汽车行业研究周报：构筑AI汽车体系，小鹏汽车多箭齐发

Investment Rating - The report maintains an "Overweight" rating for the automotive industry [4]. Core Insights - The automotive industry is experiencing a rebound due to economic normalization and supportive policies, with expectations for continued growth in production and sales [13]. - The report highlights the advancements in AI technology by Xiaopeng Motors, showcasing their AI automotive ecosystem, which includes AI cars, robots, and flying cars [1][7]. - Xiaopeng's new technologies include the Kunpeng Super Electric System, Turing AI Driving System, and Tianji AIOS, focusing on electric power, intelligent driving, and smart cabins [1][8]. Summary by Sections 1. AI Automotive Ecosystem - Xiaopeng Motors recently held an "AI Technology Day" in Guangzhou, unveiling their AI ecosystem and new technological advancements [1][7]. - The Kunpeng Super Electric System features an 800V high-voltage platform, 5C supercharging AI battery, and a noise-reducing range extender [9]. - The Turing AI Driving System utilizes AI large models and self-developed chips, achieving significant functionality verification in a short time [10][11]. - Tianji AIOS supports real-time multilingual conversations and is powered by dual self-developed chips [11]. 2. Investment Strategy and Focus - The report suggests focusing on undervalued leading companies in the automotive sector, particularly those with stable performance and advantages in electric and intelligent vehicles [2][13]. - Key companies to watch include BYD, Li Auto, and top component manufacturers like Huayu Automotive and Fuyao Glass [2][13]. - The report emphasizes the potential of domestic substitution opportunities and the positive impact of strong automakers on core components [13][14]. 3. Market Review - The automotive sector saw a weekly increase of 7.29%, outperforming the Shanghai Composite Index and other major indices [3][15]. - The report lists the top-performing stocks in the automotive sector, including Jun Chuang Technology and Wang Cheng Technology, while also noting the underperformers [3][15].