智能驾驶加速落地，机器人赛道高热 | 投研报告

Core Insights - The automotive industry in China shows stable retail performance for passenger vehicles, with a total of 1.776 million units sold from September 1-27, remaining flat year-on-year and increasing by 12% month-on-month. Cumulatively, 16.54 million units have been sold this year, reflecting an 8% year-on-year growth [2][3] - The new energy vehicle (NEV) sector continues to grow, with 1.039 million units sold from September 1-27, marking a 9% year-on-year increase and a 17% month-on-month increase, achieving a penetration rate of 58.5%. Year-to-date sales reached 8.609 million units, up 24% year-on-year [2][3] Passenger Vehicles - Retail sales of passenger vehicles from September 1-27 totaled 1.776 million units, showing no change year-on-year and a 12% increase month-on-month. Year-to-date sales stand at 16.54 million units, up 8% year-on-year [2][3] - Key companies in this sector include BYD, Geely, Xpeng, Li Auto, Changan, and Leap Motor [3] New Energy Vehicles - NEV retail sales for the same period reached 1.039 million units, with a year-on-year growth of 9% and a month-on-month growth of 17%, resulting in a cumulative total of 8.609 million units sold this year, which is a 24% increase year-on-year [2][3] - Relevant companies include BYD, Geely, Xinquan, Xingyu, Doli Technology, Chuanhuan Technology, and Wuxi Zhenhua [3] Smart Vehicles - Significant advancements in smart vehicles were noted on September 29, including the global launch of L4.5 autonomous driving technology by Jiushi Intelligent, which achieved three major breakthroughs. Huawei announced that its QianKun intelligent driving system has been installed in over 1 million vehicles, with a cumulative assisted driving mileage exceeding 5 billion kilometers [4] - The opening of 879 kilometers of road rights for autonomous vehicles in Zigong and the participation of Chinese companies in autonomous driving tests in Dubai highlight the industry's move towards full commercialization [4] - Key players include Seres, Xpeng, and Li Auto for vehicles, and Hesai Technology, Supcon, Horizon Robotics, and others for components [4] Heavy Trucks - The heavy truck market in China continues to experience high growth, with wholesale sales reaching 105,000 units in September, reflecting a 15% month-on-month increase and an 82% year-on-year increase. Cumulative sales have surpassed 821,000 units, with a 20% year-on-year growth [5] - Relevant companies include Weichai Power, China National Heavy Duty Truck Group, and Foton Motor [5] Robotics - In the robotics sector, Tesla showcased its AI-driven "Optimus" robot, improving action fluidity by nearly 40%. Additionally, a report indicated that global financing for humanoid robots reached 11.108 billion yuan in September, marking a 105.7% increase and a new high for the year [6] - Key companies in this field include Top Group, Sanhua Intelligent Controls, Aikodi, and others [6]