GUOTAI HAITONG SECURITIES·2026-02-08 11:05Investment Rating - The report maintains an "Overweight" rating for the automotive industry [4][16]. Core Insights - The new Li Auto L9 Livis is leading a new phase in steer-by-wire chassis technology, which is expected to drive upgrades in related component manufacturers [2][15]. - The report highlights a significant growth in demand for AIDC power generation equipment and recommends Weichai Power for its diversified layout in diesel, gas generator sets, and SOFC [16]. - The liquid cooling technology is identified as a promising area for automotive components, with a recommendation for Silver Wheel Holdings [16]. - The report anticipates rapid growth in passenger vehicle exports to Europe under carbon reduction policies, recommending XPeng Motors and SAIC Motor [16]. - The smart driving industry chain is expected to benefit from advancements in L3 testing, with recommendations for Nexperia and China Automotive Technology & Research Center [16]. - The humanoid robot sector is highlighted, recommending Delta Electronics and Ningbo Huaxiang based on long-term strategic capabilities [16]. Summary by Sections Industry Weekly Market Review - The automotive index remained flat over the week, while the new energy vehicle index increased by 2% [2][7]. - Over the past month, the automotive index decreased by 1%, and the new energy vehicle index fell by 2% [8][9]. New Li Auto L9 Livis - The L9 Livis features a fully steer-by-wire chassis, including steer-by-wire, four-wheel steering, and electric mechanical brakes (EMB), priced at 559,800 yuan [15]. - The vehicle is equipped with 2560 TOPS computing power and an 800V fully independent active suspension system, marking a significant evolution from "human-driven" to "human-machine co-driving" [15]. Investment Strategy and Recommendations - The report suggests maintaining an "Overweight" rating and provides specific stock recommendations based on various growth areas within the automotive sector [16][17]. - Key recommended stocks include Weichai Power, Silver Wheel Holdings, XPeng Motors, SAIC Motor, Nexperia, and Delta Electronics [16][17].