On July 11, Guolonghui reported that CMB International published a research report indicating that the announcement issued by the Beijing Economic and Information Bureau to solicit opinions on the Beijing Autonomous Driving Car Regulations has boosted investment sentiment in the autonomous driving related symbols market. The bank analyzed Baidu's Apollo Go and believed that the sustained penetration of the group's fully unmanned autonomous driving business may significantly improve the unit economics (UE) of the business. In the future, hardware costs will further decrease, the distance per order will increase, and subsidies optimization, and the coverage range of cloud-based driving personnel will be expanded to promote further improvement of UE.

The report mentioned that with 70% of Wuhan Apollo Go orders completed by fully unmanned vehicles in April this year, the management is expected to achieve its target of a balanced profit and loss at the end of 2024. The bank believes that although the commercialization of autonomous driving is affected by regional policies, the pace of promotion may vary, but regulatory guidelines at the city level are becoming clearer, which will help further accelerate the development of the autonomous driving industry. Companies that have accumulated technology and effective data are expected to benefit continuously. The bank maintains a target price of $183 and a "buy" rating on the group.