AXERA (00600) saw its shares rise more than 15% before noon. As of the time of writing, the stock was up 15.59%, trading at HKD 27.88, with a turnover of HKD 113 million. The surge follows news that the company's self-developed flagship chip, the M97, designed for high-level autonomous driving applications, has recently completed production and was successfully activated. The M97 represents a core product in AXERA's strategy to advance its intelligent automotive business into the high-end segment. It is the latest generation of intelligent automotive chips, succeeding the M55H, M76H, and M57 series. The autonomous driving solutions supported by the M97 enable urban Navigate on Autopilot (NOA) functionality, with applicability extending beyond urban environments. The product lineup includes both high and low configuration options, providing comprehensive coverage for autonomous driving needs ranging from L2+ to L3 levels. In terms of specifications, the M97 is the first intelligent driving chip platform in China manufactured using a top-tier automotive-grade process. It sets a benchmark for single-chip computing power in domestically produced autonomous driving chips. The chip features a built-in, ultra-high-performance, self-developed Neural Processing Unit (NPU) capable of supporting advanced autonomous driving algorithm architectures such as VLA and World Models. It also facilitates rapid model migration and optimization to meet the long-term evolution requirements of autonomous driving algorithms. Regarding sensor integration, the M97 can interface with a wide range of multi-source sensors across all domains, supporting unified processing of signals from cameras, LiDAR, and millimeter-wave radar.