Guosen Securities(SZ:002736) Mei Ri Jing Ji Xin Wen·2025-08-12 07:09Group 1 - The core viewpoint emphasizes the long-term opportunities in the smart automotive industry, focusing on the rise of domestic brands and the trend towards electric intelligence [1] - The global status of domestic automotive brands is improving, with three main types of companies involved: traditional automakers actively transforming, new force brands, and technology companies transitioning into automotive [1] - By 2025, it is expected that more vehicles will be equipped with lidar, domain controllers, and L2+ level models will enter mass production, marking the beginning of L3 high-level intelligent driving [1] Group 2 - The incremental components in the industry are developing along two main lines: data flow (sensors, domain controllers, etc.) and energy flow (power batteries, electric drive systems, etc.) [1] - The industry is transitioning from a growth phase to a maturity phase, with an expected annual compound growth rate of 2% over the next 20 years, and sales of new energy vehicles are projected to exceed 15.5 million units in 2025, representing a year-on-year growth of over 25% [1] - The Smart Automotive ETF (159889) tracks the CS Smart Automotive Index (930721), which selects listed companies involved in smart driving and vehicle networking technologies to reflect the overall performance of quality enterprises in the smart automotive sector [1]