Tesla(US:TSLA) Huafu Securities·2025-11-06 11:32Investment Rating - The industry rating is "Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% over the next 6 months [20]. Core Insights - Tesla's board has proposed an unprecedented compensation plan for Elon Musk, potentially worth around $1 trillion, contingent on achieving specific goals over the next 10 years [3]. - Key objectives include increasing market capitalization from approximately $1 trillion to at least $8.5 trillion, delivering a cumulative total of 20 million vehicles, deploying 1 million Robotaxis, achieving 10 million active Full Self-Driving (FSD) subscriptions, delivering 1 million Optimus robots, and increasing profits to $400 billion, which is about 24 times the expected earnings in 2024 [5][6]. - The upcoming shareholder meeting on November 6 will vote on this compensation plan, which previously received about 73% support in 2018 but was later invalidated due to procedural issues [5][6]. - If the compensation plan is approved, it could significantly impact Tesla's long-term development by stabilizing leadership, aligning incentives with long-term goals, accelerating key projects, providing capital for R&D without increasing cash expenditures, alleviating governance concerns, and boosting market sentiment [6][7]. Summary by Sections Market Dynamics - The approval of Musk's compensation plan could lead to a surge in orders and technological upgrades for companies in the Tesla supply chain and the domestic humanoid robot industry, presenting substantial investment opportunities in the capital market [7][13]. Recommendations - The report suggests monitoring the developments surrounding Musk's compensation plan and its implications for Tesla and the broader industry [8].