Market Insight | CHENQI TECH Surges Over 14% as Tesla's Robotaxi Launch Nears, Company Poised with Strong Robotaxi Commercialization Potential

Zhitong
2024.10.10 07:27
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CHENQI TECH rose more than 14%, as of the time of publication, it rose by 14.71% to HKD 23.4, with a turnover of HKD 1.026 million. On October 10th, California time (October 11th Beijing time), Tesla will release a new product called "Cybercab" for Robotaxi (self-driving taxi). CITIC Securities believes that Tesla's autonomous driving technology and infrastructure are leading in the industry, with various cost-reducing technologies, which are expected to further promote industry development. The bank believes that foreign leading OEMs in intelligent driving, intelligent industry chains, and targets in the Tesla industry chain are expected to benefit from the rapid development of Robotaxi. Guotai Junan International previously pointed out that CHENQI TECH is the second largest ride-hailing platform in the Greater Bay Area in terms of trading scale market share. The company has rich industrial resources, with GAC & Tencent as the top two shareholders, providing strong support in operations and market expansion; the company ranks second in market share in the Greater Bay Area, with significant room for growth in user awareness and order volume; the company is the first in China to have a commercial Robotaxi fleet ride-hailing platform, with strong commercial potential for Robotaxi landing; compliance rate is at the forefront of the industry

According to the Wise Finance APP, CHENQI TECH (09680) surged over 14%, as of the time of publication, it rose by 14.71% to HKD 23.4 with a turnover of HKD 1.026 million.

On the news front, on October 10th, California time (October 11th Beijing time), Tesla will release a new product called "Cybercab" for Robotaxi (self-driving taxi). CITIC Securities believes that Tesla's autonomous driving technology and infrastructure are leading in the industry, with various cost-reducing technologies, which are expected to further promote industry development. The bank believes that foreign leading OEMs in intelligent driving, intelligent industry chains, and Tesla industry chain targets are expected to benefit from the rapid development of Robotaxi.

Previously, Guotai Junan International pointed out that CHENQI TECH is the second largest ride-hailing platform in the Greater Bay Area in terms of trading volume market share. The company has rich industrial resources, with Guangzhou Automobile Group & Tencent as the top two shareholders, providing strong support in operations and market expansion; the company ranks second in market share in the Greater Bay Area, with significant room for growth in user awareness and order volume; the company is the first in China to have a commercial Robotaxi fleet, with strong potential for commercial deployment of Robotaxi; compliance rate is among the industry leaders

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