Apollo Go, an autonomous driving travel service platform, primarily operates autonomous vehicles (Robotaxi) for autonomous and even fully driverless transportation.

Apollo Go boasts China's first commercial pilot service for autonomous driving, offering multi-model services, nationwide operations, night-time passenger testing, and extensive commercial exploration. Growth capability refers to the ability of a company to continuously increase its asset size, profitability, and market share in response to changes in the market environment, reflecting its future development prospects. This article, part of the "Growth Capability" series in our Corporate Value series, selects 19 companies associated with Baidu Apollo Go as research samples, using revenue compound growth, non-GAAP net profit compound growth, operating net cash flow compound growth, and other indicators as evaluation metrics.

Data is based on historical information and does not represent future trends; it is intended for static analysis only and does not constitute investment advice.

Top 10 Companies in Terms of Growth Capability for Baidu Apollo Go:

10th: StarNet Universe

Industry Segment: Aerospace Equipment

Growth Capability: Revenue compound growth of 0.20%, non-GAAP net profit compound growth of -59.59%, operating net cash flow compound growth is negative

Earnings Forecast: Latest forecast for net profit averages 167 million yuan, with an average forecast growth rate of 209.83%

Main Products: Unmanned systems are the primary source of profit, accounting for 56.96% of profits, with a gross margin of 31.52%

Company Highlights: StarNet Universe's main business includes information perception, satellite communications, and unmanned systems. The company provides dedicated inertial navigation products for Baidu's driverless vehicles.

9th: Dongjian Technology

Industry Segment: Body Accessories and Trim Parts

Growth Capability: Revenue compound growth of 11.80%, non-GAAP net profit compound growth of 31.00%, operating net cash flow compound growth of 53.62%

Earnings Forecast: No earnings forecasts have been made by institutions for this year

Main Products: Side-mounted decorative systems are the primary source of profit, accounting for 26.38% of profits, with a gross margin of 33.04%

Company Highlights: Dongjian Technology is a technology company focused on enhancing the driving experience through automotive intelligence, safety, health, and personalized customization. The company supports Baidu in building a new generation of shared driverless vehicles.

8th: JMC Motor

Industry Segment: Commercial Trucks

Growth Capability: Revenue compound growth of -2.96%, non-GAAP net profit compound growth is negative, operating net cash flow compound growth is negative

Earnings Forecast: Latest forecast for net profit averages 1.837 billion yuan, with an average forecast growth rate of 24.52%

Main Products: Complete vehicles are the primary source of profit, accounting for 88.68% of profits, with a gross margin of 14.89%

Company Highlights: JMC Motor's main business involves the production and sale of commercial vehicles, SUVs, and related components. The sixth-generation driverless vehicle of Apollo Go was jointly developed by Baidu Apollo and JMC New Energy.

7th: GCL New Energy Technology

Industry Segment: Thermal Services

Growth Capability: Revenue compound growth of -5.37%, non-GAAP net profit compound growth of -57.91%, operating net cash flow compound growth of 3.88%

Earnings Forecast: Latest forecast for net profit averages 1.404 billion yuan, with an average forecast growth rate of 54.46%

Main Products: Electricity sales are the primary source of profit, accounting for 64.74% of profits, with a gross margin of 23.98%

Company Highlights: Baidu's sixth-generation L4 autonomous driving vehicle adopts a battery swapping mode for energy replenishment, utilizing standard battery packs and smart swapping stations from Beijing Shengneng, a subsidiary of GCL New Energy Technology.

6th: TZTEK

Industry Segment: Automation Equipment

Growth Capability: Revenue compound growth of 14.14%, non-GAAP net profit compound growth of 27.22%, operating net cash flow compound growth is negative

Earnings Forecast: Latest forecast for net profit averages 272 million yuan, with an average forecast growth rate of 26.32%

Main Products: Visual measurement equipment is the primary source of profit, accounting for 42.15% of profits, with a gross margin of 53.77%

Company Highlights: TZTEK provides domain controllers based on the NVIDIA Jetson solution for the Apollo platform.

5th: Desay SV Automotive

Industry Segment: Automotive Electronics and Electrical Systems

Growth Capability: Revenue compound growth of 51.31%, non-GAAP net profit compound growth of 33.67%, operating net cash flow compound growth of 16.34%

Earnings Forecast: Latest forecast for net profit averages 2.116 billion yuan, with an average forecast growth rate of 36.79%

Main Products: Smart cockpits are the primary source of profit, accounting for 72.63% of profits, with a gross margin of 20.58%

Company Highlights: Desay SV Automotive focuses on three major areas: smart cockpits, intelligent driving, and connected services. The company participates in the joint research and development of Baidu's BCU and DuerOS.

4th: Foryou Automotive

Industry Segment: Automotive Electronics and Electrical Systems

Growth Capability: Revenue compound growth of 26.10%, non-GAAP net profit compound growth of 30.34%, operating net cash flow compound growth of -2.92%

Earnings Forecast: Latest forecast for net profit averages 644 million yuan, with an average forecast growth rate of 38.48%

Main Products: Automotive electronics are the primary source of profit, accounting for 66.69% of profits, with a gross margin of 22.05%

Company Highlights: Foryou Automotive is primarily engaged in automotive electronics, precision die-casting, precision electronic components, and LED lighting. The company collaborates with Baidu in automotive electronics.

3rd: Jinzhong Auto Trim

Industry Segment: Body Accessories and Trim Parts

Growth Capability: Revenue compound growth of 29.87%, non-GAAP net profit compound growth of 50.00%, operating net cash flow compound growth is negative

Earnings Forecast: Latest forecast for net profit averages 135 million yuan, with an average forecast growth rate of 48.54%

Main Products: Automotive wheel hub trim pieces are the primary source of profit, accounting for 94.81% of profits, with a gross margin of 27.36%

Company Highlights: Jinzhong Auto Trim's main products include automotive wheel hub trim pieces, automotive logo trim pieces, and automotive body trim pieces. The company supplies wheel hub trim covers to Baidu Apollo vehicles.

2nd: Foton Motor

Industry Segment: Commercial Trucks

Growth Capability: Revenue compound growth of 1.02%, non-GAAP net profit compound growth is negative, operating net cash flow compound growth of -42.11%

Earnings Forecast: Latest forecast for net profit averages 1.357 billion yuan, with an average forecast growth rate of 49.26%

Main Products: Light trucks are the primary source of profit, accounting for 37.40% of profits, with a gross margin of 8.96%

Company Highlights: Foton Motor jointly developed an all-weather, multi-model L4 autonomous driving vehicle with several units, which operated in the Shougang Demonstration Park during the Beijing Winter Olympics.

1st: Kinglong Motor

Industry Segment: Commercial Passenger Vehicles

Growth Capability: Revenue compound growth of 12.17%, non-GAAP net profit compound growth is negative, operating net cash flow compound growth is negative

Earnings Forecast: Latest forecast for net profit averages 407 million yuan, with an average forecast growth rate of 441.97%

Main Products: Automobiles and body parts are the primary source of profit, accounting for 91.21% of profits, with a gross margin of 11.47%

Company Highlights: Kinglong Motor's products are primarily used in tourism passenger transport, highway passenger transport, public transport, group transportation, school buses, special passenger vehicles, and other markets. The company jointly launched an L4 autonomous driving minibus with Baidu.

The top 10 companies in terms of growth capability for Baidu Apollo Go, with their revenue compound growth, non-GAAP net profit compound growth, and operating net cash flow compound growth over the past three years: