香港汽车ETF（520720）涨超2.4%，政策与智能化升级支撑行业预期

Group 1 - The core viewpoint is that the automotive industry is experiencing a shift with initial gains followed by declines in whole vehicle stocks, while investment in auto parts is becoming more active, particularly in AI-driven driving opportunities [1] - The report highlights optimism for companies with high ownership of advanced intelligent driving vehicles, suggesting that their valuations are likely to increase [1] - Key suppliers of intelligent driving technology and companies with global competitiveness in the auto parts sector are identified as worthy of attention [1] Group 2 - The acceleration of AI intelligent driving technology is noted, with L3 commercial deployment expected to begin, supported by clear policy approvals for L3 vehicle production [1] - Huawei's release of a high-speed L3 commercial solution is anticipated to enable L3 commercial use by 2025, which could reshape vehicle valuations significantly [1] - Companies and tech firms with closed-loop intelligent driving capabilities are expected to have greater potential for business model transformation [1] Group 3 - The Hong Kong Automotive ETF (520720) tracks the Hong Kong Stock Connect Automotive Index (931239), which includes listed companies involved in vehicle manufacturing, parts, and intelligent driving [1] - This index reflects the overall performance of automotive-related listed companies and is characterized by high R&D investment and growth potential, with over 60% weight in the whole vehicle sector [1] - The Hong Kong Automotive ETF (520720) can be traded directly through A-share accounts, addressing the investment tool accessibility issue for ordinary investors [1]