汽车行业周观点：优选港股整车龙头；持续看好低空经济，重点关注整机环节

Investment Rating - The report maintains a "Strong Buy" rating for the automotive sector, indicating that the industry is expected to outperform the market benchmark by more than 5% over the next 6 to 12 months [2][13]. Core Insights - The automotive sector is experiencing a mixed market performance, with a focus on leading vehicle manufacturers and niche segments that extend their business boundaries [2]. - Recent data shows a significant increase in vehicle retail and wholesale, with retail sales up 16% year-on-year and wholesale sales up 25% year-on-year for the first 20 days of October [2]. - The report highlights the collaboration between Zeekr and Waymo for autonomous vehicles, with initial deliveries for testing in the U.S. expected to ramp up next year [2]. - Tesla's third-quarter results exceeded expectations, with projections for a 20%-30% increase in sales next year and plans for mass production of the Cybercab by 2026 [2]. - The report emphasizes the importance of the low-altitude economy, with significant investments and projects being initiated, including a procurement plan for 2,000 mainline aircraft and 20,000 branch aircraft by Shandong Highway Group [10]. Summary by Sections Automotive Sector - The automotive index rose by 3.51% this week, ranking 13th out of 31 sectors [2]. - Key players recommended include Geely and Li Auto in Hong Kong, and BYD and Jianghuai in A-shares, due to strong sales data and upcoming product cycles [2][4]. - The report suggests a cautious approach towards traditional auto parts manufacturers but remains optimistic about those involved in new technologies like autonomous driving and robotics [2]. Robotics Sector - The robotics index increased by 3.14%, with notable developments in humanoid robots and their applications [5]. - The report indicates a strong consensus on the long-term growth of the robotics industry, although practical applications are still awaited [6]. - Recommended companies in the robotics sector include Sanhua Intelligent Control and Beite Technology [8]. Low-altitude Economy - The low-altitude economy index surged by 8.61%, with significant government initiatives and investments in the sector [9]. - The report highlights the potential for growth in low-altitude aircraft and related technologies, with key events and projects expected to drive further development [10]. - Recommended companies in this sector include WanFeng Aviation and ZhongShen Power, focusing on eVTOL and drone engines [10].