Group 1 - Wanxiang Qianchao and Lianang Micro both hit the daily limit up [1] - Dayang Electric and Heertai previously reached the daily limit up [1] - Wave Optoelectronics, Sanhua Intelligent Control, and Junsheng Electronics also experienced a rise [1]

Domestic News - The Ministry of Industry and Information Technology and four other departments have issued a plan for the steel industry, targeting an average annual growth of around 4% in value added over the next two years, focusing on quality upgrades in major steel-consuming industries such as automotive and machinery [2] - In August, the retail sales of new energy passenger vehicles increased by 7.5% year-on-year, with a penetration rate of 55.2%, indicating a steady growth in the consumption market [3] - The State Administration for Market Regulation has revised and published national standards for urban public transport and car rental services, which will take effect on November 1, emphasizing the verification of rental operators and vehicles [4] - Since the beginning of the 14th Five-Year Plan, the cumulative insurance coverage for motor vehicles has exceeded 1.6 billion instances, marking a 40% increase compared to the previous five-year period [5] International News - In the first 20 days of September, South Korea's automobile export value increased by 14.9% year-on-year, reaching $3.42 billion, despite an overall export decline due to new U.S. tariff policies [6] - Belgium's exports of passenger cars to the U.S. plummeted by 45% from May to July, contributing to a trade deficit of €2.2 billion with the U.S. during this period [7] - Porsche announced a significant adjustment to its electric platform development timeline, extending the market lifecycle of existing internal combustion engine models while introducing new models [8] Company News - China FAW Group Corporation is in the public announcement period for its acquisition of a stake in Shenzhen Zhuoyu Technology Co., which specializes in advanced driver-assistance systems (ADAS) [9] - Geely Automobile issued 24,000 ordinary shares due to the exercise of stock options under its plan adopted in April 2023 [10] - Li Xiang, CEO of Li Auto, clarified that there is no model named "Li Xiang i7," addressing public inquiries about the vehicle [11] - CATL signed a strategic cooperation agreement with the People's Government of Milin City, focusing on new energy projects and zero-carbon industries [12] - WeRide partnered with Grab to launch the Ai.R autonomous driving service in Singapore, marking the first such service in residential areas [13]

Market Overview - On September 22, the Shanghai Composite Index rose by 0.22%, the CSI 300 increased by 0.46%, the STAR 50 surged by 3.38%, the CSI 1000 climbed by 0.69%, the ChiNext Index went up by 0.55%, while the Hang Seng Index fell by 0.76% [4] - The best-performing sectors on September 22 were electronics (+3.71%), computers (+1.7%), non-ferrous metals (+0.98%), machinery equipment (+0.86%), and non-bank financials (+0.81%). The worst-performing sectors included social services (-2.04%), beauty and personal care (-1.36%), retail (-1.31%), food and beverage (-1.21%), and construction decoration (-1.07%) [4] - The total trading volume for the A-share market on September 22 was 21,425 billion yuan, with a net inflow of 12.736 billion Hong Kong dollars from southbound funds [4] Company Analysis - The report focuses on Junsheng Electronics (600699), which operates in the robotics and automotive Tier 1 sectors. The company announced a new large order with a total lifecycle order value of approximately 15 billion yuan [5] - The new order is expected to enhance the company's performance, indicating a recovery in profitability and potential growth in the humanoid robotics business [5] - Key catalysts for investment include accelerated mass production of humanoid robots and progress from leading overseas companies [5]

2 隔夜市场 美股三大指数集体收涨，均续创收盘新高，道指涨0.14%，纳指涨0.7%，标普500指数涨0.44%，大型科技股多数上涨，甲骨文涨超6%，苹果涨超4%，英伟 达涨近4%收创纪录新高，亚马逊、Meta、博通跌超1%；贵金属、消费电子、半导体设备与材料涨幅居前，GoPro涨超18%，康特科技、黄金资源涨超5%， LG Display涨超3%，阿斯麦、科磊、泛美白银涨超2%。纳斯达克中国金龙指数跌0.96%，中概股多数下跌，蔚来跌超6%，京东跌超3%，名创优品跌超 2%，理想汽车、哔哩哔哩跌超1%，世纪互联涨超4%，爱奇艺涨超3%。 每经编辑｜张喜威 王晓波 √2025欧亚经济论坛将于9月23日至2! 2 2025中国电力企业数智化大会暨数智 行业高质量发展论坛将于9月23日至25| 3 鸿蒙智行秋季新品发布会将于9月23E 4 美国9月Markit制造业PMI初值将公布 1 何立峰会见美国国会众议员代表团 中共中央政治局委员、国务院副总理何立峰9月22日下午在人民大会堂会见美国国会众议员代表团史密斯一行。何立峰表示，9月19日，习近平主席与特朗普 总统通话，达成重要共识，为下阶段中美关系稳定发展作出战 ...

这则视频引发了网友热议，"被弹到的无辜车主怎么想""你车上快爆炸的电池岂不是弹到我的车底下了"。 网友评论。评论区截图 新京报贝壳财经讯（记者林子）电动车在碰撞时电池容易爆炸，将电池弹出车外是否就能安全了？9月22日，针对网上流传的相关视频，均胜电子 方面回应新京报贝壳财经记者称，公司与中国碰撞维修技术中心不存在任何形式的合作开发协议，该技术与公司无关。 近期，网上流传着一则视频显示，中国汽车碰撞维修技术研究中心联合均胜电子推出"电池弹射技术"并做了实车演示，该技术能在电池热失控时在 1秒钟之内快速将电池弹出，实现车电分离。 网传视频中，即将爆炸的电池正在弹出。视频截图 9月22日，新京报贝壳财经记者多方搜索中国汽车碰撞维修技术研究中心，均未能查到确切信息。有媒体报道称，该中心背后为麦特集团。麦特集 团官网显示，公司属于中国汽车后市场行业，旗下拥有威力狮、奔腾、MAXIMA等自主品牌，是中国汽车维修行业协会常务理事单位、中国汽车保 修设备行业协会副会长单位、中国汽车流通协会副会长单位。 9月22日，新京报记者拨打麦特集团总部电话，未能接通。 企查查显示，麦特集团的法定代表人为盖方。中国汽车维修行业协会官网显示 ...

Investment Rating - The automotive industry is rated as "Outperform" compared to the market index [3][11]. Core Insights - The automotive sector experienced a weekly increase of 2.95%, outperforming the Shanghai Composite Index, which declined by 0.44% [3][5]. - Tesla's strategic shift towards AI and robotics, particularly with the launch of the AI5 chip, is expected to significantly enhance productivity and drive future growth [3]. - The report highlights the emergence of a concentrated market structure in smart vehicles, driven by leading companies leveraging AI and computational power [3]. Summary by Sections Industry Performance - The A-share automotive sector index closed at 8,106.5 points, ranking 4th out of 31 sectors [3][5]. - The top-performing sub-sectors included automotive parts (+4.29%) and passenger vehicles (+1.89%), while commercial vehicles saw a decline of 0.98% [3][7]. Stock Performance - The top five A-share stocks in the automotive sector this week were: - Junsheng Electronics (+44.25%) - Shanzi Gaoke (+39.71%) - Kaiter Co. (+33.76%) - Kebo Da (+32.17%) - Wanxiang Qianchao (+31.93%) [3][8]. - In the Hong Kong market, the top performers included: - Dechang Motor Holdings (+40.61%) - NIO (+21.88%) - Nexperia (+18.73%) [3][9]. Strategic Developments - Tesla's "Macro Plan 4.0" focuses on AI and robotics, with expectations that 80% of its future value will come from the Optimus robot [3]. - The AI5 chip, produced using TSMC's 3nm technology, boasts a performance increase of 3-5 times over its predecessor, with significant enhancements in memory and processing capabilities [3]. - The report suggests that the shift towards smart vehicles will create increased demand for testing and inspection services, highlighting opportunities for companies like China Automotive Research [3].

Investment Rating - The report maintains a "Recommended" rating for the humanoid robot industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [7]. Core Insights - The humanoid robot concept index increased by 2.97% from September 14 to September 19, 2025, outperforming the CSI 300 index by 3.41 percentage points. Year-to-date, the humanoid robot index has risen by 78.38%, surpassing the CSI 300 index by 60.54 percentage points [2][12]. - Figure AI, a leading startup in humanoid robotics, announced it raised over $1 billion in Series C funding, achieving a post-money valuation of $39 billion. This funding round was led by Parkway Venture Capital, with participation from major investors like NVIDIA and Intel Capital. This milestone is seen as crucial for the next phase of growth in humanoid robotics [5][26]. - The report highlights significant advancements in the humanoid robot sector, including strategic partnerships, technological innovations, and substantial investments, indicating a robust growth trajectory for the industry [3][21][24]. Weekly Market Review - The humanoid robot index saw the highest weekly gain from Junsheng Electronics at +44.25%, while Jiangsu Beiren experienced the largest decline at -16.18% [19][22]. - The report notes that the central enterprises have invested 8.6 trillion yuan in strategic emerging industries since the 14th Five-Year Plan, reflecting strong governmental support for the sector [21]. Key Company Announcements - TOSY Robotics has completed multiple rounds of validation for its first humanoid robot product, "Xiao Tuo," which can autonomously perform complex tasks in industrial settings [24]. - Zhongding Holdings has established strategic partnerships in the humanoid robot field, leveraging its proprietary technologies [29]. - Wanxiang Qianchao is focusing on developing key components for humanoid robots, with plans to enhance production capacity significantly by 2025 [30]. Industry News - The Ministry of Science and Technology is promoting the application of humanoid robots in various sectors, including automotive manufacturing and logistics, which is expected to lay a solid foundation for the future trillion-dollar industry [23]. - Yusheng Micro has developed Ethernet communication products suitable for robot motion control, indicating advancements in communication technology for humanoid robots [32].

Core Viewpoint - A video demonstrating a new battery ejection technology during thermal runaway in electric vehicles has gone viral, raising safety concerns and controversy regarding its implications for public safety and liability [2]. Group 1: Technology and Development - The video shows a vehicle equipped with a technology that can eject the battery 3 to 6 meters away from the car during thermal runaway, achieving separation between the vehicle and the battery [2]. - The technology was reportedly developed in collaboration with Junsheng Electronics and the "China Collision Repair Technology Center" [2]. Group 2: Company Responses and Clarifications - Junsheng Electronics (600699.SH) stated that they do not have any formal development agreement with the "China Collision Repair Technology Center" [2]. - The "China Collision Repair Technology Center" is associated with the Mate Group, which operates several automotive brands but lacks official business registration information [2]. Group 3: Industry Context - The Mate Group, established in 1992, primarily focuses on the automotive aftermarket sector [2]. - Attempts to contact the Mate Group's headquarters and Beijing branch revealed unresponsive or non-existent phone lines, raising questions about the company's operational status [2].

Core Viewpoint - A video demonstrating a new battery ejection technology for electric vehicles has gone viral, showing a vehicle capable of ejecting its battery 3 to 6 meters away during thermal runaway incidents. This technology was reportedly developed by "China Collision Repair Technology Center" in collaboration with Junsheng Electronics, although Junsheng has denied any formal partnership [3][4]. Group 1 - The viral video features a vehicle with a technology that allows the battery to be ejected during thermal runaway, enhancing safety by separating the battery from the vehicle [3]. - The technology has sparked controversy, with public reactions questioning the ethics of potentially endangering others while ensuring personal safety [4]. - Junsheng Electronics clarified that they do not have any collaboration with "China Collision Repair Technology Center," which is associated with the Mite Group, a company primarily engaged in the automotive aftermarket [4][5]. Group 2 - "China Collision Repair Technology Center" lacks any registered business information, raising questions about its legitimacy [4]. - The Mite Group, established in 1992, operates under various automotive brands but has not provided clear contact information, as attempts to reach their headquarters and branches were unsuccessful [5].

Core Viewpoint - A video demonstrating a new battery ejection technology during thermal runaway has gone viral, raising safety concerns and controversy in the automotive industry [1][2]. Group 1: Technology and Innovation - The video shows a vehicle equipped with a technology that can eject the battery 3 to 6 meters away from the car during thermal runaway, achieving separation between the vehicle and the battery [1]. - The technology was reportedly developed by "China Collision Repair Technology Center" in collaboration with Junsheng Electronics, although Junsheng Electronics later denied any formal development agreement [2]. Group 2: Company Information - "China Collision Repair Technology Center" is associated with the Mate Group, which owns several automotive brands including Welion, Bantam, and MAXIMA [2]. - The "China Collision Repair Technology Center" lacks any registered business information, raising questions about its legitimacy [2]. - The Mate Group was established in 1992 and primarily focuses on the automotive aftermarket [2].