Tesla(US:TSLA) Shanghai Aijian Securities·2025-07-29 13:34Investment Rating - The automotive industry is rated as "Outperform the Market" [3][15]. Core Insights - The automotive sector experienced a weekly increase of 1.03%, with the A-share automotive index closing at 7,219.3 points, ranking 25th out of 31 sectors [3][7]. - Tesla's revenue for the first half of 2025 was $41.83 billion, a year-on-year decrease of 10.6%, with a net profit of $1.58 billion, down 43.3% year-on-year [3][6]. - The report highlights the potential growth of Robotaxi and Optimus, which could significantly enhance Tesla's valuation [3][4]. Summary by Sections Market Performance - The A-share automotive sector's weekly performance was +1.03%, with sub-sectors such as commercial vehicles (+4.26%) and automotive services (+1.69%) leading the gains [3][9]. - Top-performing stocks in the A-share automotive sector included Fosa Technology (+28.03%) and Tianpu Shares (+23.73%) [3][10]. Tesla Financials - Tesla's Q2 2025 revenue was $22.50 billion, showing a month-on-month increase of 16.35% but a year-on-year decrease of 11.78% [6]. - The gross profit for Q2 2025 was $3.88 billion, with a gross margin of 17.24%, indicating a stabilization after previous declines [6]. Market Dynamics - The report notes that Tesla's production for 2025 is projected at 773,000 vehicles, with deliveries at 721,000, primarily affected by weak demand in Europe and the U.S. [3][4]. - The Chinese market showed stability, with Tesla's wholesale sales in June 2025 reaching 71,599 units, marking a 0.8% year-on-year increase [3][4]. Future Growth Drivers - The report emphasizes the acceleration of AI-driven growth for Tesla, particularly through Full Self-Driving (FSD) and Robotaxi services, which are expected to expand significantly in the coming years [3][4]. - Optimus, Tesla's humanoid robot, is set to launch prototypes by October 2025, with mass production targeted for early 2026, potentially transforming labor dynamics [3][4]. Investment Recommendations - The report suggests focusing on leading smart vehicle companies like Xiaomi Group, Xpeng Motors, and Li Auto, which are expected to establish user experience barriers [4]. - It also highlights the rise of domestic supply chains transitioning from single component suppliers to integrated smart component system providers, recommending attention to companies like Baolong Technology [4].