【周观点】重申汽车行业价格行为监管，继续看好汽车板块

Investment Highlights - The automotive sector has shown positive performance this week, with the SW motorcycle and other segments leading with a gain of 1.7% [4][13] - The top five stocks covered this week include Chunfeng Power, Xusheng Group, Great Wall Motors, Hengshuai Co., and Desay SV [4][13] Industry Core Changes - On December 12, 2025, the State Administration for Market Regulation released the "Guidelines for Compliance with Pricing Behavior in the Automotive Industry (Draft for Comments)" [6][13] - The Central Economic Work Conference was held to optimize the implementation of the "Two New" policies [6][13] - Longxin General announced a partnership with Zhiyuan Robotics, focusing on industrial manufacturing and intelligent mobility, aiming to accelerate the development of L2 and L3 product lines [6][13] - Hezhima Intelligent and Yuanrong Qixing have reached a deep cooperation agreement to promote the mass production of advanced driver assistance technologies [6][13] - WeRide and Uber announced a partnership with the Dubai Roads and Transport Authority (RTA) to officially launch Robotaxi services through the Uber app in Dubai [6][13] Current Automotive Sector Configuration - The automotive industry is perceived to be at a new crossroads, with the electric vehicle (EV) boom nearing its end and the intelligent vehicle sector entering a phase of innovation [9][14] - Three main investment opportunities are identified: - AI Intelligent Vehicle Main Line: Focus on Robotaxi and Robovan, with key players including Tesla, Xiaopeng Motors, and Horizon Robotics [9][14] - Upstream Supply Chain Key Stocks: Include B-end vehicle OEMs like BAIC Blue Valley and GAC Group, as well as core suppliers in testing, chips, and sensors [9][14] - AI Robotics Main Line: Focus on selected components from companies like Top Group and Junsheng Electronics [9][14] Market Performance Overview - The automotive sector ranked 9th in A-shares and 14th in Hong Kong this week, with motorcycles and other segments performing the best [18][21] - The overall automotive sector has shown stability, with the SW motorcycle and other segments leading in performance [21][28]