Huachuang Securities·2025-04-22 06:02Investment Rating - The industry investment rating is "Recommended," indicating an expected increase in the industry index by more than 5% over the next 3-6 months compared to the benchmark index [19]. Core Insights - The report highlights the launch of new electric vehicle models, including the Xiaopeng X9 and the Denza N9, which are positioned to enhance market competition in the electric vehicle sector [6]. - The report emphasizes the importance of power batteries in electric vehicles, suggesting a focus on companies involved in battery production and related materials [6]. - The report provides detailed specifications of new vehicle models, including pricing, power output, and range, showcasing advancements in technology and design [6]. Industry Overview - The industry consists of 299 listed companies with a total market capitalization of approximately 46,881.73 billion and a circulating market value of about 41,202.87 billion [2]. - The absolute performance of the industry over the past 12 months shows a growth of 3.9%, while the relative performance indicates a decline of 3.0% compared to the benchmark index [3]. Recent Developments - The Ministry of Industry and Information Technology announced the public disclosure of new energy vehicle models, with 218 enterprises submitting 578 models for approval, including 498 pure electric models [6]. - Xiaopeng X9 is priced between 359,800 to 419,800 yuan, featuring a maximum range of 740 kilometers with a 105 kWh battery [6]. - Denza N9 offers a comprehensive range of 1302 kilometers and includes advanced driving assistance features [6]. - Wuling Hongguang has introduced a range-extended version, providing options for fuel, range-extended, and pure electric powertrains [6].