Ge Long Hui·2025-10-29 09:56Group 1 - The core viewpoint of the report indicates that the passenger car market shows positive data during the "Golden September and Silver October" period, but market expectations are becoming dull. The focus remains on high-end, intelligent, and overseas expansion trends [1] - The commercial vehicle sector benefits from subsidy implementation and increased exports, with significant characteristics of low valuation and high prosperity. Leading companies are expected to experience a "Davis Double" effect [1] - The progress and mid-term expectations of the humanoid robot industry chain remain optimistic. The "14th Five-Year Plan" emphasizes technological self-reliance and new productivity development, suggesting that AI-related industries, represented by humanoid robots, are likely to benefit and continue to show value before the realization of industry trends [1]