Great Wall Securities·2025-02-19 09:10Investment Rating - The investment rating for the automotive sector is "Overweight" with a focus on specific stocks such as BYD and Changan Automobile, which are rated as "Buy" or "Increase" [1][3][37]. Core Insights - The automotive sector experienced a 1.19% increase from February 10 to February 14, 2025, outperforming the CSI 300 index by 0 percentage points. The passenger vehicle segment rose by 3.71%, while commercial vehicles and buses saw declines [1][9][37]. - BYD launched its "Heavenly Eye" advanced driving system, aiming to enhance intelligent driving accessibility across its entire model range [3][37]. - The automotive industry's PE-TTM stands at 27.85, reflecting a 0.34 increase from the previous week, with passenger vehicles, commercial vehicles, and parts segments valued at 31.80, 39.43, and 23.98 respectively [2][10][37]. Summary by Sections Market Review - The automotive sector's performance from February 10 to February 14 showed a 1.19% increase, with passenger vehicles up 3.71% and commercial vehicles down 1.61% [1][9]. - The overall market performance indicated that the automotive sector is gaining traction compared to the broader market indices [1][15]. Company and Industry News - BYD's "Heavenly Eye" system was introduced, featuring three versions aimed at different vehicle lines, with the first batch of 21 models set to launch [3][37]. - Other companies like Changan and Geely are also launching new models, indicating a competitive landscape in the automotive sector [32][36]. New Vehicle Launches - A total of 38 new and updated vehicle models were launched during the week, including various models from BYD and other manufacturers [34][36]. Valuation and Price Movements - The automotive sector's PE-TTM is 27.85, with notable movements in the valuations of passenger and commercial vehicles [2][10][37]. - Raw material prices have shown fluctuations, with aluminum and copper indices increasing, while lithium carbonate prices decreased slightly [20][37].