汽车行业跟踪：上汽申请“尚界”商标，2024客车出口再创新高

Investment Rating - The investment rating for the automotive industry is "Positive" [2] Core Insights - The establishment of Anhui Zhijie New Energy Company with a registered capital of 1 billion RMB, fully controlled by Chery Automobile Co., Ltd [7] - Tesla's Cybercab is expected to start production in 2026, with vehicle business anticipated to recover in 2025, and a projected 50% year-on-year growth in power generation and storage business by 2025 [7] - SAIC has applied for trademarks such as "Shangjie" [7] - Xiaomi's automobile deliveries exceeded 20,000 units in January 2025, with a target of 300,000 units for the entire year [7] - Jiangqi Group's collaboration with Huawei has successfully launched the first product, Zun Jie S800, with further models in development [7] - Geely Automobile Group plans to launch two new hybrid models this year, featuring flexible energy modes [8] - In 2024, China's bus exports reached a record high of 61,820 units, a year-on-year increase of 41.1% [8] - Zhongtong Bus's net profit for 2024 is projected to exceed 290 million RMB, marking a year-on-year increase of 320% [9] Market Performance - During the week of January 27-31, the A-share automotive sector underperformed the broader market, with a decline of 1.05% compared to a 0.41% drop in the CSI 300 index [11] - The passenger vehicle sector's PE ratio slightly decreased, while the commercial vehicle and automotive parts sectors also saw declines in their PE ratios [17][19][20] Recommendations - The report suggests focusing on leading automakers such as BYD, Great Wall Motors, and others for potential investment opportunities [3] - In the commercial vehicle sector, companies like China National Heavy Duty Truck Group and FAW Liberation are highlighted for attention [3] - For automotive parts, companies such as Daimay Co., General Co., and others are recommended for consideration [3]