Qianfang Technology (002373): Qianfang operator’s Zhilian Automobile Demonstration Zone won national recognition

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Qianfang Technology (002373): Qianfang operator’s Zhilian Automobile Demonstration Zone won national recognition

Investment Highlights: Event: On September 15th, the news webcast reported “Beijing Haidian: New service models to help innovation and development”, which specifically mentioned the case of government-enterprise cooperation between Qianfang Technology and the Haidian District Government to build an autonomous driving innovation demonstration zone.

Whether this type of smart car is safe to go on the road must go through simulation tests, and in a closed test field, open the test road, and run a step-by-step test process of driving in the demonstration area.

On January 18, 2016, the Ministry of Industry and Information Technology, the People’s Government of Beijing Municipality, and the People’s Government of Hebei Province signed the Ministry-Provincial Cooperation Framework Agreement on “Broadband Mobile Internet-based Smart Cars and Smart Transportation Demonstration Applications” to jointly build a national smart carAnd smart transportation (Beijing-Ji) demonstration area.

The 夜来香体验网 National Intelligent Vehicle and Intelligent Transportation (Beijing and Hebei) Demonstration Area includes two closed test sites (Yizhuang Base and Haidian Base), and a total of 44 open test roads for 124 highways in 4 districts (Shunyi District 11).

2 kilometers to Haidian District 19.

4 highway, Beijing Economic Development Zone 74.

4 kilometers, Fangshan District 18 kilometers), three 100 square kilometers operation demonstration zones (5G car networking and autonomous driving demonstration zone in Economic Development Zone, Zhongguancun autonomous driving innovation demonstration zone in Haidian District, and Shunyi Intelligent Vehicle Connected Ecological Innovation Demonstration Zone).
The Haidian Autonomous Driving Innovation Demonstration Zone in the news webcast report is one of the three 100-square-kilometer 北京桑拿洗浴保健 demonstration zones, namely the Zhongguancun Autonomous Driving Innovation Demonstration Zone in Haidian District.

The National Intelligent Vehicle and Intelligent Transportation (Beijing-Jiji) Demonstration Zone adopts a joint government-enterprise joint venture model, while the construction and operation subject is an industrial joint innovation center established and established by Qianfang as the initiator.

There are a total of 9 national-level closed test demonstration areas supported by the Ministry of Industry and Information Technology and other ministries in the country. Qianfang led the construction and operation of the National Intelligent Vehicle and Intelligent Transportation (Beijing-Jijiang) Demonstration Area.

The national state-level closed test field widely adopts the model of government-enterprise joint venture or independent construction and operation by government departments.

Among them, the government-enterprise joint venture model consists of government departments as the competent unit and construction and operation by the enterprise. As a third-party service agency for road testing of autonomous vehicles, the enterprise is fully responsible for autonomous vehicle application, on-site review, and daily supervision.Vehicle costs for testing in closed test areas.

Typical representatives of the government-enterprise joint venture model are Beijing Demonstration Zone by Qianfang Technology, Changsha Demonstration Zone by Future Science and Technology Corporation, Shanghai Demonstration Zone by Shanghai International Automobile City (Group) Co., Ltd .; Independent Government Operation Modes such as Wuxi National Intelligent TransportationThe comprehensive test base is constructed and operated by the Institute of Transportation Management Science of the Ministry of Public Security.

Thousands of parties are benefiting from the deterministic benefit of the intelligent and serial “road-end” intelligent serialization in the connected car industry chain.

In addition to participating in the construction and operation of the above-mentioned national intelligent connected car test zone, Qianfang Technology’s connections in the industrial chain are mainly connected vehicle terminal devices RSU and OBU, cloud control management platforms (collecting road and vehicle data and summary calculations), and margins.Computing platform (MEC) three parts.

Among them, Qianfang Technology started with traffic informatization and has a “platformized” gene, which has obvious advantages in the cloud control management platform. At present, the connected car terminal equipment track has been “crowded” many times, and it is expected that it will enter various stages and various suppliers.The competition will be mainly customer resources rather than technical capabilities. If it is finally determined that the highway company and the government will fund the construction, it will be beneficial to Qianfang. After Ali has invested in Qianfang, the two sides will launch in-depth cooperation on edge computing platforms.Fang will also further increase personnel and R & D investment in edge computing.

Maintain profit forecast and overweight rating.

The EPS for 2019/2020/2021 is predicted to be 0.

61 yuan / 0.

74 yuan / 0.

88 yuan, the current sustainable corresponding PE is 31 times / 26 times / 22 times, and maintain the “overweight” level.