综合行业周报：RoboX进展顺利，家用机器人新品密集亮相

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The automotive sector is awaiting a turning point in passenger vehicle sales, with RoboX company making steady progress [5][7] - The tools sector is seeing significant developments, including the establishment of the QuanFeng Vietnam park and exciting new products showcased at CES [6][27] Automotive Sector Summary - The Hang Seng Automotive Theme Index increased by 2.2%, outperforming the Hang Seng Index (-0.4%) and the Hang Seng Technology Index (-0.4%) [5][13] - In December 2025, the passenger vehicle market reached a new high with retail sales of 2,374.5 million units, including 1,280.9 million units of new energy vehicles, marking a 17.6% year-on-year growth [14] - January 2026 passenger vehicle sales are expected to see a slight year-on-year increase, with an estimated total market retail of around 1.8 million units [15] - New vehicle launches have been relatively quiet, with the Geely Galaxy V900 being the only notable release [19][20] - RoboX plans to deploy 100,000 fully customized Robotaxis globally by 2030, enhancing commercial operations [22] Tools Sector Summary - The establishment of the QuanFeng (Vietnam) New Energy Intelligent Manufacturing Base marks a significant step in global strategic layout [39] - At CES 2026, several innovative home robot products were showcased, including the G-Rover by Stone Technology, which features a dual-wheel leg architecture [40] - Milwaukee Tools opened a flagship experience center in the UK, enhancing strategic value and user engagement [53]