汽车行业定期报告：比亚迪与华为合作，成都车展开幕

Investment Rating - The industry is rated as "Outperforming the Market" [3][55]. Core Insights - BYD has signed a smart driving cooperation agreement with Huawei, with the first product being the upcoming Fangchengbao B8 model, which will feature Huawei's ADS 3.0 technology [2][7]. - The Chengdu International Auto Show, which opened on August 30, 2024, showcases over 1,600 vehicles and is expected to boost market confidence and consumer demand as the traditional sales peak season approaches [2][7]. - The automotive sector has shown resilience, outperforming the CSI 300 index by 2.9 percentage points during the week of August 26 to August 30, 2024 [8][11]. Summary by Sections Weekly Highlights - BYD's collaboration with Huawei aims to enhance its smart driving capabilities, addressing its previous shortcomings in this area [2][7]. - The Chengdu Auto Show is a significant event for the automotive industry, featuring new energy vehicles and marking a pivotal moment for market dynamics [2][7]. Market Performance - From August 26 to August 30, 2024, the automotive sector increased by 2.7%, while the CSI 300 index decreased by 0.2%, indicating strong relative performance [8][11]. - Year-to-date, the automotive sector has decreased by 8.6%, ranking 10th among 31 sectors [8][11]. Key Industry Data - Retail sales of passenger vehicles from August 1 to 25 reached 1.305 million units, a 5% increase year-on-year, with new energy vehicle sales growing by 48% [21][22]. - Wholesale sales of passenger vehicles during the same period were 1.267 million units, a 2% decrease year-on-year, while new energy vehicle wholesale sales increased by 24% [21][22]. Industry News - BYD reported a net profit of 13.63 billion yuan for the first half of 2024, a 24% increase year-on-year, driven by growth in its automotive and related products segment [39]. - Li Auto's second-quarter revenue was 31.7 billion yuan, reflecting a 10.6% year-on-year increase, while its adjusted net profit decreased by 44.9% [40]. - Great Wall Motors reported a significant net profit increase of 419.99% for the first half of 2024, reaching 7.079 billion yuan [44].