Market Overview - The automotive sector experienced a growth of +3.08%, with motorcycles and others being the best-performing sub-sector at +6.9% [1][2] - The Shanghai Composite Index (CSI 300) rose by +2.37% during the same period, placing the automotive sector 9th among 31 primary industries [1][2] - The performance of various sub-sectors includes: automotive parts +3.53%, passenger vehicles +2.11%, commercial vehicles +1.29%, and automotive services -1.35% [1][2] Company Performance - The top five companies in terms of growth are: Feilong Co. (+39.06%), Tenglong Co. (+35.05%), Shentong Technology (+28.95%), Huami New Materials (+28.25%), and Chuanhuan Technology (+27.58%) [2] - The bottom five companies are: Jianshe Industry (-7.33%), Xiling Power (-6.65%), Shenda Co. (-6.4%), Huapei Power (-4.85%), and Guansheng Co. (-4.74%) [2] Sales Data - In July, total automotive sales reached 2.593 million units, a year-on-year increase of +14.7% but a month-on-month decrease of -10.7% [2] - Domestic sales accounted for 2.018 million units, up +12.6% year-on-year, while exports were 575,000 units, reflecting a +22.6% increase [2] - New energy vehicle (NEV) sales reached 1.262 million units, a +27.4% increase, making up 48.7% of total automotive sales [2] - NEV exports were 225,000 units, showing a year-on-year growth of 120% [2] Corporate Developments - GAC Group approved a capital increase of 600 million yuan for GAC Aion to acquire a 71.43% stake in Huawang Automotive [3] - Geely Auto reported a revenue of 150.3 billion yuan for H1 2025, a +27% increase year-on-year, with a net profit of 9.29 billion yuan and a gross margin of 16.4% [3] - BAIC Blue Valley reported a net loss of 2.308 billion yuan for H1 2025, despite a revenue increase of +154.38% to 9.517 billion yuan [3] Strategic Partnerships - XPeng Motors and Volkswagen Group expanded their collaboration on electronic and electrical architecture technology, aiming for integration across various vehicle platforms [4] Investment Recommendations - Companies involved in intelligent vehicle technology and those with potential for overseas sales are recommended for investment, including BAIC Blue Valley, Great Wall Motors, and others [5]
7月汽车销量+14.7%，小鹏汽车与大众汽车集团扩大电子电气架构技术合作 | 投研报告