
Investment Rating - The report maintains a positive outlook on strong domestic automotive brands, emphasizing the importance of complete vehicles, intelligent driving, and robotics for the year [6][7]. Core Viewpoints - The report highlights a sustained optimism for strong domestic automotive brands, with a focus on complete vehicles, intelligent driving, and robotics as key investment areas for the year [6][7]. - Weekly core data indicates that total insurance registrations for the week of July 21-27 reached 452,000, exceeding the 400,000 threshold, with a year-on-year increase of 13% and a month-on-month increase of 13.3% [6][24]. - The report anticipates continued high growth for domestic brands in overseas markets, supported by completed production capacity and channel development across various regions [6][45]. Summary by Sections Core Viewpoints - The report emphasizes a positive outlook for strong domestic automotive brands, focusing on complete vehicles, intelligent driving, and robotics as key investment areas for the year [6][7]. - Weekly data shows that new energy vehicle insurance registrations reached 236,000, with a year-on-year increase of 21% and a penetration rate of 52.2% [6][26]. Market Tracking - The automotive sector ranked 25th in terms of weekly performance, with a weekly increase of 1% [10][14]. - The report notes that the automotive sector's valuation percentile is at 35%, indicating a relative low compared to historical data [10][14]. Industry Prosperity - The report tracks total exports for June at 480,000 units, reflecting a year-on-year increase of 28% [6][45]. - The report indicates that the market share of domestic brands has increased significantly, from 36% in January 2021 to 64% by December 2024 [35][36]. Important News - The report highlights that the overall situation for the automotive industry shows a recovery in orders, with July's fourth week seeing a slight increase in overall orders [38][41]. - The report notes that the new energy vehicle segment is expected to continue its upward trajectory, with significant contributions from brands like BYD and Geely [45][49].