上市企业：旗滨集团（601636）,南玻Ａ（000012）,金晶科技（600586）,凯盛新能（600876）,耀皮玻璃 （600819）,山东药玻（600529）,亚玛顿（002623）,福耀玻璃（600660） 相关报告：智研咨询发布的《2026-2032年中国平板玻璃行业市场供需态势及前景战略研判报告》 根据国家统计局数据显示：2025年12月中国平板玻璃产量为8829万重量箱，同比增长3.4%；2025年1-12 月中国平板玻璃累计产量为97591万重量箱，累计下降3%。 2020-2025年中国平板玻璃产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

2020-2025年中国夹层玻璃产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：旗滨集团（601636）,南玻Ａ（000012）,福耀玻璃（600660）,金晶科技（600586）,凯盛新能 （600876）,耀皮玻璃（600819）,山东药玻（600529）,亚玛顿（002623） 相关报告：智研咨询发布的《2026-2032年中国夹层玻璃行业市场现状调查及发展趋向研判报告》 根据国家统计局数据显示：2025年12月中国夹层玻璃产量为1556万平方米，同比下降7.1%；2025年1-12 月中国夹层玻璃累计产量为16422.8万平方米，累计增长2.7%。 ...

[Table_Page] 深度分析|汽车 证券研究报告 [Table_Title] 汽车行业 25 年四季度末公募基金超配汽车行业 0.62pct [Table_Summary] 核心观点： [Table_Grade] 行业评级 买入 前次评级 买入 报告日期 2026-01-29 [分析师： Table_Author]张力月 SAC 执证号：S0260524040004 021-38003727 zhangliyue@gf.com.cn 分析师： 闫俊刚 SAC 执证号：S0260516010001 021-38003682 yanjungang@gf.com.cn 分析师： 陈飞彤 SAC 执证号：S0260524040002 SFC CE No. BWZ819 021-38003726 gfchenfeitong@gf.com.cn 分析师： 周伟 SAC 执证号：S0260522090001 021-38003684 gfzhwei@gf.com.cn 分析师： 罗英 SAC 执证号：S0260525110001 0755-82557403 shluoying@gf.com.cn -10% -2% 6 ...

Group 1 - The core point of the news is that Fuyao Glass conducted a block trade on January 28, with a total of 355,800 shares traded, amounting to 20.9946 million yuan, which represents 1.47% of the total trading volume for that day [1] - The transaction price was 59 yuan per share, which is a discount of 5.01% compared to the market closing price of 62.11 yuan [1]

Group 1 - The automotive parts sector experienced a decline of 1.21% on January 28, with Weitang Industrial leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] - Notable gainers in the automotive parts sector included Liangyu Co., which rose by 10.00% to a closing price of 131.67, and Qingdao Double Star, which increased by 9.95% to 6.74 [1] Group 2 - Weitang Industrial saw a significant drop of 13.00%, closing at 19.88, with a trading volume of 378,800 shares and a transaction value of 779 million [2] - The automotive parts sector experienced a net outflow of 3.574 billion in main funds, while retail investors saw a net inflow of 2.824 billion [2] - The top net inflows from retail investors included Qingdao Double Star with 92.09 million, while significant outflows were noted in companies like Feilong Co. with a net outflow of 158 million [3]

分析师 1: 各位尊敬的投资者，大家晚上好！非常感谢大家在这个周一晚上黄金时间段拨冗参加我们 国新汽车团队组织的这个汽车 2026 年的策略汇报其实这也不能说是我们这个年度策略的 一个汇报，因为我们其实针对一个 2026 年，就是去年 25 年 11 月写的这个年度策略，做 了一个补充的这个策略专题。对 20 年，就 2005 年到 2025 年的 20 年汽车行情，还有汽 车增速做了一个复盘。然后有定量也有定性的这个分析，包括对 26 年做了一个展望，所 以这次的会议，首先我们是会快速地过一下我们这个策略复盘的这个要点，得到了一些什 么结论？ 第三个就是我们也复盘了一下 2018 年，因为 2026 年哦，在我们看来其实跟 2018 年有 点相似，因为 2018 年也是一个就是补贴政策，各种政策退出的一个年份。然后汽车行业， 也出现了首年的这个销量下滑，那是 2018 年发生的事情。然后 2026 年，我们觉得也是 有销量下行的压力的。其实政策也退出。那对比 2018 年，其实汽车板块是在 2018 年的 6，6 月份开始出现销量的下滑，但是汽车行情是 3 月份就开始跌了。然后到 11 到 10 月 份的时 ...

Investment Rating - The investment rating for the automotive and automotive parts industry is "Positive" and maintained [6]. Core Insights - The German government plans to restart the electric vehicle (EV) subsidy policy that was suspended in 2023, with a total budget of €3 billion (approximately ¥24 billion), aimed at boosting the domestic automotive industry and accelerating the green transition [2][4][18]. - The subsidy will provide between €1,500 and €6,000 for eligible low- to middle-income families purchasing new energy vehicles priced below €45,000, effective from January 1, 2026, until 2029 or until funds are exhausted [18]. - The expected impact of the subsidy is to significantly increase the penetration rate of new energy vehicles in Germany, with projections indicating that at least 500,000 vehicles will be subsidized, accounting for approximately 29.5% of the expected new energy vehicle sales in 2025 [18][21]. Summary by Sections Event Description - On January 19, the German government announced the restart of the EV subsidy policy, with a total budget of €3 billion, to enhance the penetration of new energy vehicles in the market [4][18]. Market Performance - The report indicates that the penetration rate of new energy vehicles in Germany is expected to rise significantly due to the subsidy, with a projected 84,700 new energy vehicles sold in 2025, representing a year-on-year growth of 48.3% [13][18]. - The overall new energy vehicle sales in Europe are projected to reach 3.9 million units in 2025, with a year-on-year increase of 32.7% [13][18]. Implications for Domestic Companies - The subsidy is expected to benefit domestic companies such as BYD, Leapmotor, and SAIC, as many of their models are priced below €45,000 [30]. - The increase in new energy vehicle penetration in Europe is anticipated to positively impact the performance of domestic component manufacturers and vehicle producers operating in the European market [30].

Investment Rating - The investment rating for the automotive industry is "Positive" and is maintained [9] Core Insights - In Q4 2025, the fund holding ratio in the automotive industry slightly increased to 4.35%, up by 0.02 percentage points from the previous quarter, indicating an overall overweight of 0.14% compared to the market capitalization of automotive stocks in A-shares [2][5] - The configuration ratio for automotive manufacturing decreased to 1.04%, down by 0.12 percentage points, while the configuration ratio for automotive parts increased to 3.31%, up by 0.14 percentage points [5] - The wholesale sales of passenger vehicles in Q4 2025 reached 8.846 million units, showing a year-on-year decrease of 0.3% but a quarter-on-quarter increase of 15.1% [5] Summary by Sections Market Performance - The A-share automotive sector increased by 2.15%, outperforming the CSI 300 index which decreased by 0.62% [28] - Among sub-sectors, commercial vehicle parts rose by 7.36%, while automotive sales and services fell by 5.74% [28] Fund Holdings - The top fifteen fund holdings in the automotive sector for Q4 2025 include Fuyao Glass, Slin Intelligent Drive, and Sailun Tire, with significant inflows into Slin Intelligent Drive and outflows from Jianghuai Automobile [6][17] Investment Recommendations - The report emphasizes three main investment themes: 1. Overseas expansion with recommendations for companies like Minth Group and BYD 2. High-end passenger vehicles and parts with a focus on companies like Geely and Ideal Automotive 3. Embracing AI technology with recommendations for companies like Top Group and Xpeng Motors [7][22][23]

Investment Highlights - The SW auto parts index increased by 3.85% this week, ranking second in the SW auto sector, with a year-to-date increase of 9.12% [3][14] - The latest trading day PE (TTM) for SW auto parts is at the 90.08% historical percentile, while PB (LF) is at the 83.70% historical percentile [3][38] Robotics Sector Review - The Wande Robotics Index rose by 1.38% this week, with a year-to-date increase of 7.07%, underperforming the SW auto parts sector by 2.47% [4][40] - The latest trading day PE (TTM) for Wande Robotics is at the 94.65% historical percentile, and PB (LF) is at the 96.30% historical percentile [4][45] Core Coverage Stocks Weekly Performance - Notable weekly gains include: New Coordinates +36.30%, Minshi Group +25.33%, Daimai Co. +12.57%, Top Group +11.30%, and Xusheng Group +9.87% [6][52] Major Events This Week - Elon Musk announced plans to sell Tesla's humanoid robot to the public by the end of 2027 [7][46] - Yushu announced its humanoid robot sales for 2025, exceeding 5,500 units [8][46] Investment Recommendations - For auto parts, focus on structural opportunities by selecting product-oriented companies and those entering high-value sectors to increase ASP, with a priority on establishing capacities in Europe, North America, and Southeast Asia [9][57] - In robotics, seek certainty in opportunities, particularly with the anticipated release of Optimus V3 in Q1 2026, and monitor order timelines and application developments from domestic companies like Xiaopeng, Yushu, and Zhiyuan [9][57]

证券之星消息，1月26日汽车零部件板块较上一交易日下跌3.19%，超捷股份领跌。当日上证指数报收于 4132.61，下跌0.09%。深证成指报收于14316.64，下跌0.85%。汽车零部件板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日汽车零部件板块主力资金净流出84.31亿元，游资资金净流入23.16亿元，散户资 金净流入61.15亿元。汽车零部件板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603306 | 华懋科技 | 1.36 Z | 14.04% | 298.78万 | 0.31% | -1.39 乙 | -14.35% | | 600660 | 福耀玻璃 | 1.31 Z | 9.10% | -1847.31万 | -1.28% | -1.13 Z | -7 ...