汽车行业周报：文远知行正式登陆纳斯达克，上海出台针对国四柴油车的淘汰置换补贴政策

Investment Rating - The automotive industry maintains an "Outperform" rating [1] Core Insights - WeRide officially listed on NASDAQ, becoming the first global autonomous driving company to go public [2][7] - Shanghai introduced a subsidy policy for the replacement of National IV diesel vehicles, providing incentives for owners of specific vehicle types to scrap their old vehicles [2][7] - Geely is set to launch its next-generation Raytheon Super Electric Hybrid technology, achieving a fuel consumption of only 2.62L per 100km under extreme conditions, with a range of 2390km [2][7] - CATL released a new hybrid battery with over 400km pure electric range and 4C fast charging capabilities [2][7] - The first domestic solid-state lithium battery production line has commenced operations, with a design capacity of 200MWh, sufficient to meet the charging needs of approximately 200,000 two-wheelers [2][7] - The Ministry of Industry and Information Technology is promoting the development of new energy vehicles in rural areas and battery swap models [2][7] - The U.S. is finalizing a $1.7 billion subsidy for electric vehicle transformation [2][7] - Tesla reiterated plans to launch a more affordable model by mid-2025, aiming for a price below $30,000 [2][7] - Great Wall Motors announced the Hi4-Z off-road platform with over 200km pure electric range [2][7] - Changan Automobile aims for annual sales of 5 million vehicles by 2030, with 30% from overseas markets [2][7] - In August, U.S. electric vehicle registrations increased by 18% year-on-year, reaching 111,952 units [2][7] Market Performance - The A-share automotive sector outperformed the market, with a weekly increase of 3.37% compared to the 0.79% rise in the CSI 300 index [3][9] - The passenger vehicle sector saw a 3.05% increase, led by Geely and Haima [3][9] - The commercial vehicle sector increased by 0.53%, with *ST Hanma and ST Shuguang leading the gains [3][9] - The automotive parts sector rose by 3.43%, with Tongxin Transmission and Jiuling Technology leading the way [3][9] Valuation Trends - The price-to-earnings (PE) ratios for the passenger vehicle, commercial vehicle, and automotive parts sectors have all increased [14][15] New Vehicle Releases - New models include Mazda EZ-6, Jietu Shanhai T1, smart 5, and Xiaomi SU7 Ultra, with launch dates ranging from October 26 to October 29, 2024 [17]