Zhong Guo Neng Yuan Wang·2025-11-12 02:39Core Insights - The SW automotive sector saw a decline in public fund holdings in Q3 2025, shifting from overweight to underweight status [2][4] - The total market value of public funds heavily invested in the SW automotive sector was 103.978 billion, down 15.41% quarter-on-quarter and 20.64% year-on-year [2][3] - The sector's market value accounted for 3.13% of the total market value of public fund holdings in A-shares, a decrease of 1.62 percentage points quarter-on-quarter and 1.47 percentage points year-on-year [2][3] Fund Holdings Analysis - The SW automotive sector ranked 9th among 31 Shenwan primary industries in terms of fund holding market value, but its underweight ratio ranked 23rd, indicating a relatively low allocation [2][3] - The concentration of holdings in the top stocks continued to decline, with the combined market value of the top 5, 10, and 20 stocks at 33.579 billion, 55.063 billion, and 78.900 billion respectively, showing a quarter-on-quarter decrease in concentration [2][3] Stock Performance - Among the top ten stocks held, only BYD experienced a slight decline, while the others saw price increases, with Zhejiang Rongtai rising over 100% [3][4] - In the automotive parts sector, the top five stocks by holding market value included Fuyao Glass, New Spring, Top Group, Zhejiang Rongtai, and Sailun Tire, with mixed changes in holdings [3][4] - In the passenger vehicle sector, SAIC Motor received significant increases in holdings, while BYD and others faced reductions [3][4] Investment Recommendations - The automotive parts and passenger vehicle sectors are highlighted as key areas of focus for fund institutions in Q3 2025 [4] - The domestic market is expected to benefit from policies supporting equipment upgrades and trade-in programs, presenting growth opportunities for the automotive industry [4] - The export growth momentum is anticipated to continue due to China's competitive pricing and ongoing improvements in technology and services [4]