CCYD(600148) Zheng Quan Shi Bao Wang·2025-01-09 07:03Group 1 - The automotive industry chain stocks experienced active trading on January 9, with several companies hitting the daily limit up, including Chunxing Precision, Feilong Co., and Xusheng Group [1] - The State Council announced that fuel vehicles meeting the National IV emission standards will be included in the scrapping and updating subsidy program, which is expected to significantly boost demand in the automotive sector by 2025 [1] - According to estimates from the China Automobile Dealers Association, the number of National IV passenger cars in circulation exceeds 70 million, a substantial increase compared to approximately 16 million for National III and earlier models [1] Group 2 - Ping An Securities predicts that the early clarification of the 2025 vehicle trade-in policy will have a stronger impact on automotive sales compared to 2024, especially with the increased subsidy for new energy buses [2] - The report recommends several companies in the new energy vehicle sector, including Seres, Li Auto, Great Wall Motors, Geely, Xiaopeng Motors, Changan Automobile, and BYD, as well as suggesting attention to Xiaomi Group and Leap Motor [2] - In the commercial vehicle sector, the expansion of subsidies for operational trucks and increased support for new energy buses are expected to have a positive effect, with recommendations for Yutong Bus and Weichai Power, and attention to China National Heavy Duty Truck [2]