汽车行业周报：吉利星舰7、蔚来ET9等领携12月重点新车

Industry Investment Rating - The industry rating is "Outperform" (maintained) [5] Core Views - The automotive industry is expected to see a recovery in demand due to policy and supply-side efforts, with the central government promoting car replacement policies [2] - The supply side is strong, with new models from companies like Xiaomi, BYD, and others driving market activity [2] - Intelligent vehicle penetration is expected to increase with the launch of new models from NIO, Zeekr, and others, alongside advancements in domestic manufacturers' pure vision and end-to-end large models [2] Key New Models in December 2024 - Five new energy vehicle models are set to launch in December 2024, including the Geely StarShip 7, Lynk & Co Z20, and Hongqi Tiangong 08 in the SUV market, and the Chery Fengyun A8L C-DM and NIO ET9 in the sedan market [1][7] - NIO's third brand, Firefly, will debut its first model on December 21, targeting the high-end small car market and planning to expand into Europe [1][13] Market Performance - The A-share automotive sector rose by 3.56% from December 2 to December 6, outperforming the CSI 300 index (+1.44%) [15] - Sub-sectors such as auto parts (+3.64%), auto services (+6.46%), and motorcycles (+3.87%) showed strong performance [15] - Top gainers in the sector included JianShe Industrial (+61.11%) and Yunnei Power (+54.72%), while the biggest losers were Shanghai Wulian (-8.60%) and Shanghai Yanpu (-6.19%) [16] Company Performance Highlights - BYD reported cumulative sales of 3.76 million vehicles in 2024, a 40.02% YoY increase, with overseas sales of 30,977 new energy vehicles in November [26] - Great Wall Motor sold 127,394 vehicles in November, with overseas sales reaching 43,186 units [25] - SAIC Group sold 478,767 vehicles in November, with new energy vehicle sales up 16.06% YoY [31] Industry Trends and News - Canada announced an EV R&D funding plan to accelerate the transition to electric vehicles [46] - BYD plans to start EV production in Brazil by March 2025, targeting a capacity of 150,000 vehicles by the end of 2025 [47] - Norway's pure EV penetration rate reached 93.6% in November 2024, indicating a near-complete transition to EVs [47] - The EU announced additional funding of €2 billion for EV battery manufacturing projects, aiming to support a competitive and sustainable European battery industry [52] Key Investment Recommendations - The report highlights opportunities in the Chery supply chain and recommends companies in lightweighting, chassis control, lighting, and cabin systems [3] - Key stock picks include Ruihong Mould, Top Group, Bethel, IKD, and Huada Technology, among others [4]