汽车：吉利智驾大整合智界汽车独立运营

Investment Rating - The industry rating is "Outperform the Market" [10][85]. Core Insights - Geely Holding Group has recently integrated its internal smart driving companies and teams, merging Zeekr's smart driving team, Geely Research Institute, and the smart driving brand "Mochi Zhixing" under Chongqing Qianli Smart Driving, which was established on June 27 this year. This company will focus on smart driving algorithms, automotive-grade hardware adaptation, and scenario-based solutions to support L2-L4 level autonomous driving technology mass production [3][14]. - Chery Automobile and Huawei signed a strategic cooperation agreement for the Zhijie brand, committing over 10 billion yuan in R&D funding and forming a dedicated 5,000-person R&D team to enhance core areas such as smart driving and battery technology. The new Zhijie New Energy Company will operate independently, covering the entire chain from R&D to user services [4][15]. - The automotive sector outperformed the CSI 300 index by 1.5 percentage points, with a weekly increase of 2.7% from August 4 to August 8, 2025, and a year-to-date increase of 12.7% [17][22]. Summary by Sections Weekly Market Performance - The automotive sector increased by 2.7% from August 4 to August 8, 2025, outperforming the CSI 300 index by 1.5 percentage points. Year-to-date, the automotive sector has risen by 12.7% [17][22]. Key Industry Data - In July 2025, retail sales of passenger vehicles reached 1.834 million units, a year-on-year increase of 7%, while wholesale sales were 2.192 million units, up 12% year-on-year. New energy passenger vehicle retail sales were 1.003 million units, a 14% increase year-on-year [6][37][38]. Industry News - Pony.ai launched a Robotaxi service in Shanghai, marking a significant step in autonomous driving services. The service operates in key areas of Pudong and is available to the public through a mobile app [68]. - The China Passenger Car Association slightly raised its annual forecast for 2025, predicting a 6% increase in retail sales of passenger vehicles [68].