汽车行业周观点（0805~0811）：重视汽零和人形机器人的左侧布局机会

Investment Rating - The automotive sector is rated as "Buy" for blue-chip or elastic stocks due to the current low valuation of auto parts [1][2]. Core Insights - The automotive sector has seen a decline in sales, with July retail sales of narrow passenger cars at 1.72 million units, down 2.8% year-on-year and 2.6% month-on-month. Wholesale sales were 1.965 million units, down 4.9% year-on-year and 9.4% month-on-month [1]. - The report suggests that the current low valuation of auto parts presents a good long-term left-side investment opportunity, despite the weak market sentiment [1][2]. - The report highlights specific companies to watch, including BYD, Jianghuai Automobile, and Ideal Auto, with a focus on their potential for recovery and growth [1][2]. Automotive Sector Summary - Recent market performance shows a 3.23% decline in the Shenwan Automotive Index, ranking 27th out of 31 sectors [1]. - The report emphasizes the importance of monitoring the automotive parts sector, which is currently at historical low valuations, and suggests focusing on blue-chip or elastic stocks [1][2]. - The report notes that while the overall market sentiment is weak, certain stocks like Fuyao Glass have shown resilience, indicating a potential for recovery [1]. Human-Robot Interaction Summary - The Wind Robotics Index has decreased by 3.29%, with the sector ranking 208th out of 308 [3]. - The report mentions the release of Figure AI's second-generation robot, Figure 02, which has been tested at BMW's Spartanburg plant, indicating progress in commercialization [5]. - The report suggests that the market is currently desensitized to initial demonstrations of robotic capabilities, and true market attractiveness will depend on efficiency improvements and cost reductions in robotic applications [6]. Investment Strategy - The report recommends tracking core stocks in the robotics sector, particularly those with significant market capitalization and those involved in sensor breakthroughs [7]. - For the low-altitude economy sector, the report advises caution due to dissipating thematic sentiment and suggests waiting for the next industrial catalyst [9].