Zhongtai Securities(SH:600918) 智通财经网·2025-07-25 03:00Group 1 - The core viewpoint is that the domestic automotive market is expected to see a significant increase in the share of strong independent brands, with an annual growth range of 8-14% [1] - The report highlights that 60-70% of mainstream listed auto parts companies are expected to enter the robotics sector, driven by the high degree of technological synergy between vehicles and robotics [1] - The report indicates that the total number of new vehicle registrations for the week of July 14-20 was 399,000, which is below the weekly threshold of 400,000, showing a year-on-year increase of 9% and a month-on-month increase of 8.1% [1] Group 2 - The report expresses a positive outlook for the automotive and smart driving investment opportunities for the year, particularly focusing on strong independent brands and the robotics supply chain [2] - It notes that while there is a consensus on a short-term industry off-season, the potential for order reversals in the automotive sector remains high, suggesting continued focus on investment opportunities in 2025 [3] - Key stocks to watch include strong independent brands such as Xiaomi, Leap Motor, Xpeng, BYD, and others, with specific attention to their product cycles and market positioning [4] Group 3 - The annual strategy emphasizes the acceleration of domestic replacement and overseas capacity, along with the universalization of smart driving and the extension into robotics, favoring strong independent brands [5] - The report anticipates that the global replacement and platform extension capabilities will be key growth areas for 2025 [5]