汽车行业周报：全新问界M724小时小订突破15万台，吉利汽车合并极氪获股东高票通过-20250909

Investment Rating - The report maintains a "Recommended" rating for the automotive industry [1] Core Insights - The automotive industry is experiencing a shift towards high-end and intelligent upgrades, supported by the continuation of vehicle replacement policies in 2025, which are expected to bolster automotive consumption [9][19] - The report highlights significant developments such as the launch of the new Wanjie M7, which achieved over 150,000 orders within 24 hours of its reservation opening, and the merger of Geely Auto with Zeekr, which received a 95.14% approval from shareholders [6][7][17] - The report emphasizes the potential benefits for companies with quality offerings priced above 300,000 yuan, recommending companies like Li Auto, Geely, BYD, and Great Wall Motors [9][19] Summary by Sections Recent Developments - The new Wanjie M7 was officially opened for reservations on September 5, with a starting price of 288,000 yuan, featuring advanced driving systems and a range of over 1300 kilometers for the extended range version [6][16] - Geely's merger with Zeekr marks a strategic move to enhance resource integration and market coverage across various segments, including fuel, pure electric, and hybrid vehicles [7][17] - The new models from Leap Motor, Lafa5 and B10, are set to debut at the Munich International Auto Show, aiming to expand their global market presence [8][18] Market Performance - The automotive sector underperformed compared to the Shanghai Composite Index during the week of September 1 to September 5, with the automotive index declining by 1.3% [20] - The report notes that the overall market sentiment is supported by the vehicle replacement policy, which is expected to drive sales upward [19] Recommendations - The report suggests focusing on companies that are positioned to benefit from the high-end market transition, including Li Auto, JAC Motors, and Geely [9][19] - It also highlights the potential for high-level intelligent driving technologies to penetrate the market more widely, recommending companies like XPeng Motors and Desay SV [9][19]