CMS·2025-04-20 12:01Investment Rating - The automotive industry maintains a "Recommended" investment rating, indicating a positive outlook for the sector's fundamentals and expectations for the industry index to outperform the benchmark index [5][30]. Core Insights - The automotive industry experienced an overall decline of 0.6% from April 13 to April 19, with significant new car launches ahead of the Shanghai Auto Show, including models from Zeekr, AITO, and NIO [1][2]. - Huawei and SAIC jointly launched the "Shangjie" brand, with an initial investment of 6 billion yuan and plans for a dedicated factory, aiming to introduce their first model priced between 180,000 to 250,000 yuan by mid-year [1][24]. - The automotive sector is witnessing a global expansion, with companies like BYD entering new markets in Europe and Southeast Asia, and Xpeng planning local production in Indonesia [21][23][27]. Market Performance Overview - The automotive sector's performance was mixed, with some sub-sectors like automotive services and motorcycles showing gains of 1.9% and 1.3%, while passenger vehicles and auto parts saw declines of 1.0% and 1.2% respectively [2][11]. - Notable individual stock performances included Huayang Racing (+19.4%), Jianbang Technology (+18.1%), and Jiuzhi Co. (+17.8%), while Xinquan Co. (-9.1%) and Meili Technology (-7.7%) faced significant declines [3][13]. Recent Developments - Several new models were launched, including the BYD Han L and Tang L, as well as the AITO Wenjie M8 and NIO Firefly, with prices ranging from 119,800 to 449,800 yuan [18][20]. - The industry is also seeing advancements in smart driving technology, with Xpeng aiming for L3 level autonomous driving by the end of 2025 [21]. - The establishment of the "Shangjie" brand by Huawei and SAIC is seen as a strategic move to capture a significant share of the growing market for new energy vehicles [24].