CMBI issued a research report stating that the announcement released by Beijing Economic and Information Bureau regarding the "Beijing Autonomous Driving Vehicle Regulations (Draft for Solicitation of Opinions)" promotes investment sentiment in autonomous driving-related targets. The bank analyzed Baidu's "Apollo Go" and believes that continued penetration of the Group's fully self-driving business may significantly improve the UE of its business unit economic model. Future hardware costs can be further reduced, ride distances per order can be increased and subsidy optimization achieved, and coverage of cloud driving personnel can be expanded and optimized, all of which are expected to promote further UE improvement. The report mentioned that in April of this year, more than 70% of the Carrots Run business in Wuhan was completed by fully unmanned vehicles. Management is expected to achieve the predetermined target of break-even by the end of 2024. Although the commercialization of autonomous driving is affected by different policies in different cities, regulatory guidelines at the city level are becoming clearer and encouraging the further acceleration of the development of the autonomous driving industry. Companies that have accumulated technology and effective data are expected to continue to benefit. CMBI maintains a target price of $183 and a buy rating for the Group.