Core Viewpoint - The automotive service sector experienced a significant increase of 3.78% on January 6, with Altr leading the gains, while the Shanghai Composite Index rose by 1.5% and the Shenzhen Component Index increased by 1.4% [1] Group 1: Market Performance - The closing price of Altr was 10.93, reflecting a rise of 10.63% with a trading volume of 480,400 shares and a transaction value of 511 million yuan [1] - China Automotive Research closed at 17.81, up by 6.58%, with a trading volume of 221,900 shares and a transaction value of 389 million yuan [1] - The automotive service sector saw a net inflow of 62.91 million yuan from main funds, while retail investors experienced a net outflow of 47.15 million yuan [1] Group 2: Fund Flow Analysis - China Automotive Research had a main fund net outflow of 35.89 million yuan, with retail investors also showing a net outflow of 14.86 million yuan [2] - Altr recorded a main fund net inflow of 12.60 million yuan, while retail investors had a net inflow of 3.18 million yuan [2] - Shanghai Material Trade saw a main fund net inflow of 5.97 million yuan, but retail investors faced a net outflow of 5.22 million yuan [2]

Market Overview - The automotive service sector increased by 0.28% on January 5, with Altec leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] Stock Performance - Altec (300825) closed at 9.88, up 2.07% with a trading volume of 96,100 shares and a turnover of 94.11 million yuan [1] - Other notable stocks include: - China Automotive Research (601965) at 16.71, up 0.66% [1] - Transportation Shares (600676) at 5.94, up 1.02% [1] - Xiamen Xinda (000701) at 6.50, down 1.07% [2] Capital Flow - The automotive service sector saw a net inflow of 8.24 million yuan from institutional investors and a net inflow of 14.68 million yuan from speculative funds, while retail investors experienced a net outflow of 22.92 million yuan [2] - Altec (300825) had a net inflow of 11.51 million yuan from institutional investors, representing 12.24% of its total trading [3] - Other stocks with significant capital flow include: - National Machinery Automotive (600335) with a net inflow of 5.82 million yuan [3] - Transportation Shares (600676) with a net inflow of 5.38 million yuan [3]

Core Viewpoint - The automotive service sector experienced a slight increase of 0.32% on December 31, with 德众汽车 leading the gains, while the overall market indices showed mixed results [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1]. - The automotive service sector stocks showed varied performance, with 德众汽车 closing at 6.85, up 4.58%, and 中国汽研 closing at 16.60, down 1.13% [1][2]. Group 2: Stock Details - 德众汽车 led the sector with a trading volume of 110,200 shares and a transaction value of 76.58 million yuan [1]. - 阿尔特 and 国机汽车 also showed positive performance, with closing prices of 9.68 (up 2.00%) and 6.51 (up 1.88%) respectively [1][2]. Group 3: Capital Flow - The automotive service sector saw a net outflow of 32.04 million yuan from institutional investors, while retail investors contributed a net inflow of 38.74 million yuan [2]. - Individual stock capital flows indicated that 国机汽车 had a net inflow of 5.33 million yuan from institutional investors, while 德众汽车 had a net inflow of 4.99 million yuan [3].

Core Viewpoint - The automotive safety industry is transitioning towards digitalization and precision, with a focus on developing a series of human digital models that cover multiple physical characteristics and scenarios. The China Automotive Engineering Research Institute (CAERI) has led the development of the first series of Chinese anthropometric digital models (AC-HUMs), which now includes the release of a 5th percentile female digital model available for free trial across the industry, marking a significant advancement in safety protection for all genders in vehicles [1][12]. Group 1: Model Development - The AC-HUMs 05F model is based on multimodal medical imaging data (CT/MRI/X-Ray) from Chinese female volunteers and has undergone dual calibration to ensure geometric standardization and anatomical accuracy, providing more precise safety protection for female road users [6][12]. - The AC-HUMs model family was developed using entirely Chinese anthropometric data, ensuring that the model parameters are representative of the Chinese population, thus achieving the goal of "Chinese data defining Chinese models" [12]. Group 2: Technical and Validation Framework - The development process involved collaboration with experts from eight top universities in China, focusing on segment-specific modeling and technical challenges, with CAERI overseeing the project and validation of the full-body model [12]. - A comprehensive validation system was implemented, including 42 segment-level and 23 full-body biological realism validation tests, alongside real-world accident data for accident reconstruction verification, ensuring the model's biological realism and practical engineering value [12]. Group 3: Industry Collaboration and Innovation - CAERI established a collaborative platform called the Human Model Joint Application and Innovation Center, aimed at promoting model development and establishing evaluation application standards, which has hosted 13 industry seminars and made 15 presentations at international conferences [14]. - The center plans to form a virtual evaluation research group with international human modeling experts by 2025 to foster continuous innovation and collaboration within the industry [14]. Group 4: Model Trial Application Process - Interested parties can apply for a trial of the model by downloading and completing the application form, which must be stamped by the organization and sent via email to CAERI for review [18][19]. - Initial applicants are required to sign a confidentiality agreement before receiving the model and user manual, with the trial period available from now until February 6, 2026, for a maximum duration of three months [21].

Core Viewpoint - The automotive service sector experienced a decline of 0.77% on December 30, with Xiamen Xinda leading the drop. The Shanghai Composite Index closed at 3965.12, down 0.0%, while the Shenzhen Component Index rose by 0.49% to 13604.07 [1]. Group 1: Market Performance - The automotive service sector's stocks showed mixed performance, with notable declines in several companies, including Xiamen Xinda, which fell by 2.63% to a closing price of 6.67 [2]. - The trading volume for Xiamen Xinda was 274,700 shares, with a transaction value of 185 million yuan [2]. - Other companies like China Automotive Research and Shanghai Material Trade also saw declines of 0.30% and 1.85%, respectively [1][2]. Group 2: Capital Flow - The automotive service sector saw a net outflow of 39.61 million yuan from institutional investors, while retail investors contributed a net inflow of 54.81 million yuan [2]. - The capital flow data indicates that North Bus Media had a net inflow of 7.96 million yuan from institutional investors, while China Automotive Research experienced a net outflow of 8.99 million yuan [3]. - The overall trend shows that retail investors are more active in the sector, as evidenced by their net inflow compared to the outflows from institutional and speculative investors [2][3].

Group 1 - The core viewpoint of the article highlights that China Automotive Engineering Research Institute Co., Ltd. has applied for a patent for a method and system to improve the accuracy of aerodynamic drag coefficient testing for modified prototype vehicles [1] Group 2 - The patent application, published as CN121234822A, was filed on October 2025 and focuses on enhancing the precision of aerodynamic testing through a series of analytical and validation processes [1] - The company, established in 2001 and located in Chongqing, has a registered capital of 1,004.18 million RMB and is primarily engaged in professional technical services [2] - China Automotive Engineering Research Institute has invested in 38 companies, participated in 5,000 bidding projects, and holds 2,072 patents along with 378 trademark registrations [2]

Core Insights - The China Automotive Engineering Research Institute (China Automotive Research) recently held a conference in Chongqing to release the "2025 Intelligent Chassis Pioneer Plan" testing research results, including the "2025 Intelligent Chassis Testing Research Report" and eight group standards for intelligent chassis testing [1] - The intelligent chassis report presents performance metrics of various vehicle models in scenarios such as emergency obstacle avoidance and slippery road conditions, marking a shift from conceptual understanding to data-driven, performance-comparable evaluations [1] - The release of the eight group standards, developed in collaboration with multiple organizations, addresses dynamic response, safety redundancy, and comfort experience, providing a scientific and standardized reference for key scenario testing of intelligent chassis [1] Industry Standards and Future Planning - The 2026 Testing Technology Planning emphasizes the continuous optimization of the testing framework based on existing systems, closely tracking technological trends and expanding the depth of testing in extreme scenarios and complex conditions [2] - The planning aims to drive the synchronous iteration of testing standards and technological research and development through more forward-looking, detailed, and future-oriented evaluation dimensions [2]

Investment Rating - The report assigns a "Buy" rating to the company, indicating a positive outlook for its stock performance in the near future [3][6]. Core Insights - The first batch of L3 autonomous driving vehicles has been approved by the Ministry of Industry and Information Technology, including the Changan Deep Blue SL03 and BAIC Arcfox Alpha S, which will conduct pilot tests in designated areas of Beijing and Chongqing [1]. - A mandatory national standard for intelligent connected vehicles will be implemented starting January 1, 2027, which is expected to significantly increase the mandatory testing items for intelligent driving, leading to higher testing costs for vehicles [2]. - The i-VISTA platform, developed by China Automotive Research, is enhancing industry influence and testing capabilities for intelligent connected vehicles, with significant investments planned for testing bases in East and South China, expected to be completed by 2026 [2]. Financial Summary - Projected revenues for the company from 2025 to 2027 are estimated at 46.60 billion, 53 billion, and 67.91 billion yuan respectively, with net profits expected to be 9.31 billion, 10.65 billion, and 14.69 billion yuan [3][4]. - The company is expected to see a revenue growth rate of 14.7% in 2024, followed by a slight decline of 0.8% in 2025, and then a recovery with growth rates of 13.7% and 28.1% in 2026 and 2027 respectively [14]. - The earnings per share are projected to increase from 0.92 yuan in 2024 to 1.46 yuan in 2027, reflecting a positive trend in profitability [4][14].

Core Viewpoint - The future of electric vehicle safety will achieve a full-chain upgrade through "pre-prediction + in-process intervention + post-tracing," utilizing solid-state batteries and intelligent driving technology to create a collaborative safety system involving "vehicle-road-cloud-people" [1][2] Group 1: Safety Technology Development - Recent advancements in automotive safety technology include self-healing solid-state batteries and the integration of active and passive intelligent driving systems, which enhance road safety [1] - The increasing adoption of intelligent door systems, particularly fully concealed door handles, is projected to exceed 10 million vehicles equipped with such features by the end of 2024 [1] Group 2: Safety Standards and Regulations - The "Automotive Door Handle Safety Technical Requirements" aims to promote rapid yet stable technological advancements while mitigating potential risks, emphasizing the need for thorough testing of electronic unlocking systems [2] - A complete safety standard chain has been established, covering "occupant survival - rapid escape - external rescue - risk isolation," providing systematic protection for road vehicles [2] - The core framework for new energy vehicle safety standards includes requirements for collision safety, overall vehicle safety, and battery safety, serving as a crucial basis for industry technological upgrades and consumer safety [2] Group 3: Future Safety Initiatives - Future initiatives will focus on four areas: basic general standards, collision safety and occupant protection, accident analysis and rescue, and safety foresight, aiming to enhance the national standard system in the collision field during the 14th Five-Year Plan period [2] - Innovations in power batteries, such as solid-state batteries and self-healing technologies, will significantly improve risks related to thermal runaway, charging safety, and collision damage [2] - Redundant architectures and collaborative defense strategies in intelligent driving will greatly enhance assisted driving capabilities, effectively reducing collision risks and lowering accident speeds [2]

证券之星消息，12月29日汽车服务板块较上一交易日下跌1.95%，中国汽研领跌。当日上证指数报收于 3965.28，上涨0.04%。深证成指报收于13537.1，下跌0.49%。汽车服务板块个股涨跌见下表： 从资金流向上来看，当日汽车服务板块主力资金净流出8593.12万元，游资资金净流出5150.81万元，散户 资金净流入1.37亿元。汽车服务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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600653 | 申博控股 | = 489.58万 | 16.30% | -189.76万 | -6.32% | -299.82万 | -9.98% | | 600386 北巴传媒 | | 333.76万 | 9.83% | 229.71万 | 6.76% | -563.46万 | -16.59% | | 600676 交运股份 | | 317.16万 | 6.11% | 28.35万 | 0.55% ...