00:00Alibaba will spin off Banma Network Technology for a listing on the Hong Kong Stock Exchange.
00:06Banma is China's biggest provider of operating technology for smart vehicles.
00:10Its systems are installed in around 2.3 million cars.
00:15Alibaba says it will continue to hold over 30% of stock following the IPO,
00:20which is aimed at boosting funding.
00:23Sir Luor is Banma's chief technology officer.
00:26Banma Network Technology actually is a spin-off from Alibaba ecosystem.
00:34And Banma and the corresponding BU under Alibaba
00:39has developed multiple technologies for auto industry for a long time.
00:45Actually, in the very beginning,
00:48Banma was developing the operating system solution for auto industry.
00:55And then, about two years ago, or like one and a half years ago,
01:00we changed our strategy.
01:02And we changed our strategy with the new strategy,
01:05AI in O and O in AI, especially for auto industry.
01:10And besides providing operating system support,
01:15we are also developing AI platform for smart cockpit in cars.
01:20Mr. Sir, can you help us understand in layman's terms how your system operates?
01:26In smart cockpit, there are three layers of services.
01:31The most foundational layer is the operating system.
01:35We need to operate the car in a reliable, secure, and efficient way.
01:40Today, we want to interact with the cars in natural voice.
01:45We do not want to touch the screen because that's not safe for driving.
01:52And we need to use voice, not just like comments.
01:56And we need to use voice in a very natural way
01:59that we can speak whatever we want in whatever way.
02:02The AI platform can call for the corresponding service to provide that service
02:08so that we will be able to do more efficient car control, navigation, entertainment,
02:16like listen to different music, and even other food from cars.
02:20So that's three different layers of what we can do in smart cockpit.
02:25And Banma has provided technologies in all three different layers.
02:29So technically, your cockpit will become smarter.
02:32When looking at the broader market, how do you assess the current landscape for smart and self-driving cars?
02:39Is there a risk of the markets being over-saturated?
02:42You have many competitors domestically and beyond Huawei, Baidu, Tencent, and Google.
02:49In China, smart cockpit technologies are developing very, very fast.
02:55And as you said, I mean, it's a pretty, I would like to say, intensive competition.
03:02And there are many major players in the market.
03:08But on the other side, I think Banma has its unique strengths.
03:12As we talked about, there are three important layers of functionalities,
03:18operating system, AI platform, and AI applications or agents.
03:23And all of them are super important to provide a great experience for car owners.
03:30Banma is strong in both three layers.
03:34And that's very unique.
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