Hong Kong Stocks Movement | JOYSON ELEC (00699) Surges Over 6% Intraday as L3 Autonomous Driving Takes Key Step Toward Commercialization; Company Previously Launched Autonomous Driving "Black Box"

JOYSON ELEC (00699) rose more than 6% intraday, and as of press time, it was up 4.48% at HK$17.03, with a turnover of HK$66.14 million.

On the news front, on December 15, the Ministry of Industry and Information Technology officially announced China's first batch of L3 conditional autonomous driving vehicle approvals. Two models, designed for urban congestion and highway scenarios respectively, will begin road tests in designated areas of Beijing and Chongqing, marking a critical step toward the commercialization of L3 autonomous driving in China.

The China Association of Automobile Manufacturers stated that the approval of L3 autonomous driving vehicles signifies a new phase of mass production and application for intelligent connected vehicles.

Public data shows that JOYSON ELEC is a core Tier 1 supplier in the autonomous driving sector. Its autonomous driving-related products have obtained ISO 26262 ASIL-D functional safety certification and can operate stably in extreme temperatures ranging from -40°C to 125°C, meeting stringent reliability requirements for autonomous driving across various scenarios.

Additionally, the company previously introduced the Data Storage System for Automated Driving (DSSAD), also known as the autonomous driving "black box." This system records operational data of L3 and higher-level autonomous driving systems as well as driver actions, aiding in accident investigation and liability determination while also providing data support for the iterative advancement of autonomous driving technology.