Huaxin Securities·2025-06-04 10:23Investment Rating - The report maintains a "Buy" rating for the automotive industry, with a focus on humanoid robots and related technologies [5][44]. Core Insights - The development of Tesla's Optimus humanoid robot is expected to advance significantly, with plans for it to be sent to Mars by the end of 2026, potentially validating its practical applications [4]. - The report emphasizes the importance of key components such as lead screws, dexterous hands, and assemblies in the humanoid robot sector, recommending specific companies for investment [6][44]. Summary by Sections Market Performance and Valuation - The CITIC Automotive Index fell by 4.3%, underperforming the broader market by 3.2 percentage points, with passenger vehicles down by 8.9% [14][15]. - The automotive industry PE (TTM) stands at 30.8, while the PB is at 2.8, indicating a high valuation relative to historical levels [26]. Industry Data Tracking and Commentary - Retail sales of passenger vehicles in May showed a mixed performance, with a year-on-year decline of 11% in the first week but a 30% increase in the second week [35]. - The report notes that the automotive market is supported by government consumption promotion policies and a vibrant spring auto show [35][36]. Recommended Companies and Profit Forecasts - Key companies recommended include: - Shuanglin Co., Ltd. (300100.SZ) with a projected EPS of 1.24 for 2024 and a "Buy" rating [46]. - Redik (300652.SZ) with a projected EPS of 1.22 for 2024 and a "Buy" rating [46]. - Jianghuai Automobile (600418.SH) with a projected EPS of 0.12 for 2024 and a "Buy" rating [46]. - The report highlights investment opportunities in companies involved in the production of lead screws, linear joint assemblies, and sensors [5][44]. Industry News and Developments - GAC has begun selling cars in Brazil and plans to establish a local factory by the end of 2026 [51][52]. - Chinese automotive brands saw a 79% increase in sales in Europe in April, indicating strong market growth [53].