汽车行业周报：智能平权及ai应用外溢全产业链；吉利星舰7再燃价格战硝烟

Investment Rating - The report maintains a "Positive" investment rating for the automotive industry, highlighting the potential of smart equity and AI applications to drive revenue and profit improvements across the supply chain [1]. Core Insights - The concept of "smart equity" has gained widespread market recognition since October, with recent performances from lidar companies exemplifying this trend. The report anticipates that smart equity will significantly alter the existing supply-demand dynamics in the automotive sector [1]. - The launch of the Geely Galaxy Starship 7 has reignited price competition in the new energy vehicle segment, with a positive outlook on the new model cycle for Geely [1]. - Key companies to watch include BYD, Geely, Huawei HarmonyOS, Xiaopeng, and companies within the smart industrial chain [1]. Industry Update - Retail sales of passenger vehicles reached 633,700 units in the 48th week of 2024, representing a month-on-month increase of 8.89%. Traditional energy vehicle sales were 323,600 units (+15.20%), while new energy vehicle sales were 310,200 units (+3.00%), resulting in a new energy penetration rate of 48.9% [1]. - The price index for traditional and new energy raw materials has decreased by 0.2% over the past week and month. Shipping costs have also declined significantly, down 13.1% compared to November 29, 2024, and 17.6% compared to the previous month [1]. - The total transaction value in the automotive sector for the week was 532 billion yuan, with the automotive index rising by 3.56%, outperforming the CSI 300 index by 2.11 percentage points [1]. Market Situation Update - A total of 247 automotive stocks rose, while 43 fell. The largest gainers included JianShe Industrial (+61.1%), YunNei Power (+54.7%), and ShanZi GaoKe (+45.1%). The largest decliners were Shanghai Wumao (-8.6%), Dadi Electric (-6.6%), and Shanghai Yanpu (-6.2%) [1]. - Significant events included the cautious procurement advice from the China Association of Automobile Manufacturers regarding U.S. chips, the pre-sale of the Tank 500 Hi4-Z, and the official launch of the Geely Galaxy Starship 7 EM-i [1][4][13]. Investment Analysis Recommendations - The report recommends focusing on domestic strong alpha manufacturers such as BYD and Geely, as well as companies leading in smart technology like Huawei HarmonyOS and Xiaopeng. It also highlights component manufacturers with strong growth potential or overseas expansion capabilities, such as Fuyao Glass and New Spring [1].