Group 1 - The automotive production in Zhejiang reached 896,000 units in the first half of the year, representing a year-on-year growth of 18.3%, ranking 7th nationwide [1] - New energy vehicle production totaled 510,000 units, with a significant year-on-year increase of 58.4%, maintaining the 4th position in national production since April [1] - The automotive manufacturing industry's added value grew by 17.6% year-on-year, surpassing the provincial industrial average by 10 percentage points [1] Group 2 - Geely Holding Group and Leap Motor are key players in Zhejiang's vehicle production, with Geely's total sales reaching 1.93 million units, a 30% increase year-on-year [2] - Leap Motor delivered 220,000 units in the first half of the year, achieving a record high of 48,006 units in June, marking a year-on-year growth of over 138% [2] - Zhejiang aims to support leading automotive enterprises like Geely and Leap Motor to exceed 2 million units in total automotive production, with new energy vehicle production surpassing 1.2 million units and a penetration rate exceeding 55% [2]

Group 1: Chinese Automotive Industry Expansion - The second China Brand Automotive Overseas Exhibition opened in Santiago, Chile, showcasing over ten Chinese automotive brands, including Chery, Foton, and Xpeng [1] - Chile's Deputy Minister of Transport, Jorge Daza, stated that China is a key strategic partner in green transportation, with approximately 4,400 Chinese-made electric buses expected to operate in the Santiago metropolitan area by early 2026 [1] - Over 40% of the newly certified electric vehicle models in Chile from January 2024 to May 2025 will be from China [1] Group 2: Technological Advancements and Partnerships - SAIC Motor Corporation received new licenses for intelligent connected vehicle demonstration operations, becoming the only company to hold both passenger and commercial vehicle licenses in Shanghai [1] - Tesla's third-generation robot is set to enter the Chinese consumer market, with plans for mass production of 1 million units within five years, starting in 2026 [1] Group 3: Product Launches and Market Expansion - Li Auto's founder and CEO, Li Xiang, officially joined Douyin, gaining over 80,000 followers on the first day, with a live broadcast scheduled for July 29 [2] - BYD launched the new pure electric compact SUV, Yuan UP, in Kuala Lumpur, Malaysia, and is expanding its service network to over 30 locations [5] - Avita's new 5G smart factory was officially established in Chongqing, aiming for full digitalization of the manufacturing process and achieving 100% automation [6][7] Group 4: Industry Innovations - Tesla showcased its latest innovations, including smart electric vehicles and the Robotaxi service, at the World Artificial Intelligence Conference, with plans to further implement its smart driving system in China and Europe by 2025 [4] - The Robotaxi service is based on a visual architecture and trained neural networks using data from millions of vehicles, allowing for rapid deployment in new regions [4]

Group 1 - The 2025 World Artificial Intelligence Conference opened in Shanghai, focusing on the theme "Intelligent Era, Common Progress" and featuring a forum on AI-enabled autonomous driving innovation [1] - A new batch of intelligent connected vehicle demonstration operation licenses was issued, with 5 consortiums and 8 companies, including Shanghai Jinjiang Taxi Service Co., Ltd. and Shanghai Youdao Zhitu Technology Co., Ltd., receiving approval [1] - The issuance of these licenses marks a new phase of normalization and scaling in Shanghai's intelligent connected vehicle demonstration operations, further promoting the large-scale commercialization of L4 autonomous driving technology [1][3] Group 2 - SAIC Group received dual licenses for both passenger and commercial vehicles, making it the only company in the industry to achieve this status [2] - SAIC Zhiji's Robotaxi has accumulated over 300,000 orders and millions of kilometers in autonomous driving, with plans to launch a dedicated L4 Robotaxi route from Shanghai International Tourism Resort to Pudong International Airport [2] - SAIC Youdao Zhitu's new license will pioneer L4 autonomous driving commercial operations in the domestic cargo sector, with over 500,000 standard containers already handled by its intelligent heavy trucks [2] Group 3 - Pony.ai received a new batch of intelligent connected vehicle demonstration operation licenses, establishing a significant commercial network for autonomous driving across major cities [3] - Pony.ai plans to collaborate with Shanghai Jinjiang Group to gradually open autonomous driving services in key areas of Pudong New District [3] - The new licenses signify a strategic leap from "road testing" to "scale operation" for autonomous driving in Shanghai, enhancing the commercialization of L4 technology [3] Group 4 - Shanghai's automotive industry is robust, with a projected output value of 703.5 billion yuan in 2024 and a cumulative promotion of 1.645 million new energy vehicles, leading globally among cities [4] - The city has gathered 9 vehicle manufacturers and over 600 parts suppliers, employing more than 150,000 high-end talents [4] - To accelerate the development of a leading area for high-level autonomous driving, Shanghai plans to deploy 500 data-collecting ride-hailing vehicles, expecting to gather over 10 million clips of data this year [4] Group 5 - The "Mosu Zhixing" action plan for Shanghai's high-level autonomous driving leading area was released, aiming to establish a global leading zone by 2027 [5] - The plan targets achieving over 6 million passenger trips and 800,000 standard containers in L4 autonomous driving, with over 5,000 kilometers of open roads covering an area of 2,000 square kilometers by 2027 [5] - The initiative emphasizes multi-scenario applications, multi-platform support, and multi-ecosystem cultivation to accelerate the development of high-level autonomous driving [5]

Core Viewpoint - The report emphasizes the importance of actively increasing positions in the computer sector, particularly focusing on the changes in the intelligent connected vehicle industry, as market risk appetite continues to rise and the AI and domestic production landscape shows positive trends [2][3]. Group 1: Investment Strategy - The recommendation is to continue and actively increase positions in the computer sector, as the public fund's overweight ratio for this sector is currently at -1.74%, indicating a decrease of 0.1 percentage points from the end of Q1 2025 [2]. - There is a strong emphasis on reallocating investments towards AI applications and domestic AI chips, with global leaders like Nvidia and Microsoft reaching new highs, and domestic agents accelerating their deployment [2]. - The report draws parallels with Palantir's trajectory, suggesting that the launch of the AIP platform has significantly boosted its market valuation, indicating potential for similar growth in domestic AI chip companies [2]. Group 2: Intelligent Connected Vehicles - The report highlights the recent issuance of new operational licenses for intelligent connected vehicles in Shanghai, marking a significant step towards normalizing and scaling the demonstration operations in this sector [4]. - The operational licenses cover various scenarios, including smart transportation, trunk logistics, and last-mile delivery, indicating a broadening scope for intelligent connected vehicles [4]. - The report suggests a focus on related investment targets within the intelligent connected vehicle industry as it enters a new phase of development [4]. Group 3: Industry Tracking - The second chapter of the report provides a deep dive into the "Xinchuang" (信创) industry, noting that demand is accelerating and the ecosystem is continuously thriving [5].

Investment Rating - The report maintains a "Recommended" rating for the automotive industry, indicating a positive outlook for the sector's fundamentals and expectations for the industry index to outperform the benchmark index [5]. Core Insights - The automotive industry experienced an overall increase of 1.2% from July 20 to July 26, with significant developments in smart connected vehicles as Shanghai issued new operational licenses for several companies [1][9]. - Key new vehicle launches include the Wanjie M8 electric version with a starting price of 378,000 yuan, and the Li Auto i8, expected to be priced between 350,000 and 400,000 yuan, set to launch on July 29 [1][32]. Market Performance Overview - The automotive sector's performance was positive, with the CS automotive index rising by 1.2%, while the broader market indices also showed gains, with the Shanghai A index up by 1.7% and the Shenzhen A index up by 2.2% [2][10]. - Among the automotive sub-sectors, commercial vehicles saw the most significant weekly increase of 4.3%, while automotive services and motorcycles also experienced notable gains [13]. Individual Stock Performance - Notable stock performances included Fucai Technology (+28.0%), Tianpu Co. (+23.7%), and Shenchi Electromechanical (+22.8%), while Shanghai Wumao (-18.1%) and Jiuling Technology (-10.5%) faced declines [3][18]. - Coverage of key stocks showed similar trends, with Shenchi Electromechanical leading the gains at +22.8%, followed by Guansheng Co. (+15.6%) and Jianghuai Automobile (+9.3%) [21]. Recent Industry Developments - The report highlights the rapid expansion of Li Auto's charging network, which has surpassed 2,900 stations, indicating a strong commitment to infrastructure development [27]. - Tesla reported a decline in Q2 revenue and net profit, with total revenue dropping 12% year-on-year to $22.5 billion, primarily due to decreased vehicle sales [29]. - Longhua Automobile achieved record Q2 results, with total revenue reaching 52.348 billion yuan, a year-on-year increase of 7.78% [30].

Core Viewpoint - The 2025 World Artificial Intelligence Conference (WAIC) emphasizes the rapid development and integration of AI technologies into various sectors, highlighting the need for global cooperation and governance in AI to ensure its benefits are widely shared and risks are managed effectively [3][4]. Group 1: Conference Overview - The conference opened on July 26, 2025, in Shanghai, themed "Intelligent Era, Shared Future," featuring five main segments: forums, exhibitions, competitions, application experiences, and innovation incubation [1]. - The exhibition area exceeded 70,000 square meters for the first time, attracting over 800 companies and showcasing more than 3,000 cutting-edge exhibits, marking the largest scale in the event's history [1]. Group 2: Government and Policy Insights - Premier Li Qiang highlighted the explosive growth of AI technologies and the importance of policy support and talent cultivation to develop safe and reliable products [3]. - He emphasized the deep integration of AI with the real economy, which is becoming a new engine for economic growth and permeating various aspects of social life [3]. Group 3: Recommendations for AI Development - Li Qiang proposed three key recommendations: 1. Focus on inclusivity and sharing the benefits of AI development with more countries and groups, particularly in the Global South [4]. 2. Emphasize innovation cooperation to achieve more breakthroughs in AI technology through collaborative research and development [4]. 3. Prioritize joint governance to ensure AI ultimately benefits humanity, advocating for a global governance framework and rules [4]. Group 4: AI Innovations and Products - The conference showcased numerous innovative products, including: - Zhiyuan Robotics presented its humanoid robots capable of performing various tasks, demonstrating their full-stack intelligence capabilities [13]. - Alibaba unveiled its self-developed AI glasses, "Quark AI Glasses," integrating various functionalities and expected to launch within the year [14]. - Huawei introduced the Ascend 384 Super Node, which features high bandwidth and low latency for AI model training and inference [15]. - Honor launched the MagicGUI, a self-developed multimodal perception model, achieving industry-leading performance in several tasks [16]. - Huakun Zhenyu released an all-in-one AI solution supporting various open-source models, catering to different budget ranges [17]. - The "Panshi Scientific Foundation Model," developed by the Chinese Academy of Sciences, was introduced to support scientific tasks with advanced capabilities [18]. Group 5: Autonomous Driving Developments - The conference featured a forum on AI-enabled autonomous driving, where the first batch of "intelligent connected vehicle demonstration operation licenses" was issued in Shanghai, marking a new phase in the normalization and scaling of autonomous vehicle operations [9][10]. - The Shanghai government outlined a plan to achieve significant milestones in autonomous driving by 2027, including over 600 million passenger trips and 80,000 TEUs of cargo [10].

《科创板日报》记者获悉，在第八届世界人工智能大会（WAIC）上，上海新一批智能网联汽车示范 运营牌照今日正式发放，小马易行科技（上海）有限公司、百度智行科技（上海）有限公司、赛可 智能科技（上海）有限公司等成为首批获准企业。 其中，小马智行将联合上海锦江集团旗下锦江出租，以浦东金桥和花木核心区域为起点，逐步向公 众开放自动驾驶出行服务。乘客可在相关运营范围内，一键呼叫Robotaxi。 随着浦东新区第三批自动驾驶测试道路的开放，上海市累计开放测试道路里程已突破2700公里，范 围覆盖包括部分内环范围的中心城区。 ...

Core Viewpoint - The recent issuance of new intelligent connected vehicle demonstration operation licenses in Shanghai marks a significant step towards the commercialization of L4 autonomous driving technology in China, indicating a shift towards normalized and scaled operations in the industry [6][12]. Group 1: License Issuance and Companies Involved - A new batch of intelligent connected vehicle demonstration operation licenses was issued, covering smart taxis and smart freight, with four models receiving approval [2]. - SAIC's Zhiji Auto and Youdao Zhitu received licenses, making SAIC the only company with both passenger and commercial vehicle licenses in the industry [2]. - Pony.ai also obtained a new batch of licenses, enhancing its presence in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen [9][10]. Group 2: Operational Developments - SAIC's Zhiji Auto plans to launch a trial operation of an L4 Robotaxi service connecting Shanghai International Tourism Resort to Pudong International Airport, which will be the first of its kind in the country [8]. - The cumulative orders for SAIC's Robotaxi have exceeded 300,000, with autonomous driving mileage reaching millions of kilometers [9]. - The intelligent heavy-duty trucks from SAIC's Youdao Zhitu are set to commercialize, marking the first regulatory-compliant unmanned heavy truck operations in the country [9]. Group 3: Future Plans and Goals - The "Shanghai High-Level Autonomous Driving Leading Area 'Mosu Zhixing' Action Plan" aims to establish a globally leading autonomous driving area by 2027, with a target of 6 million passenger rides and 800,000 container transports [12]. - Shanghai's automotive industry is projected to reach a production value of 703.5 billion yuan in 2024, with a cumulative promotion of 1.645 million new energy vehicles [13]. - The city plans to deploy 500 data collection ride-hailing vehicles, expecting to gather over 10 million data clips within the year [13].

同期，享道出行联合智己汽车与赛可智能宣布，上海国际旅游度假区至浦东国际机场的L4级Robotaxi专线开 启试运行，近期将向公众开放。这将是全国首个围绕顶级文旅应用场景、实现高快速路直通机场枢纽的L4级 智能网联汽车示范运营牌照发放仪式（受访者供图） 自动驾驶出行服务项目，打造上海"科技+文旅"城市新名片。 随着这条专线的贯通，上海将再次彰显全球自动驾驶创新高地的引领地位，建设全新应用场景下的服务新标 准，为中国智慧出行产业升级提供鲜活范本。 新华财经上海7月26日电（李一帆）7月26日，在世界人工智能大会AI赋能自动驾驶创新发展论坛现场，上海 正式发放了新一批智能网联汽车示范运营牌照，赛可智能、小马易行、百度智行、大众交通等成为首批获准 企业。 其中，上汽集团移动出行战略品牌享道出行联合智己汽车与赛可智能获颁首批示范运营牌照，获准向公众提 供基于法规的主驾无人出行服务。此次智能网联汽车示范运营牌照的发放，也宣告上海智慧交通商业化进入 新阶段。 2018年以来，上海以企业测试应用需求为导向，以区域交通出行特征为依托，分阶段、分批次开放自动驾驶 测试道路，打造了嘉定、临港、奉贤、金桥等四个各具特色的示范区。但这 ...

2025世界人工智能大会7月26日在上海开幕。上汽智己汽车（联合享道出行）和上汽友道智途双双获颁 上海市新一批智能网联汽车示范运营牌照，上汽集团由此成为行业唯一一家获得乘用车和商用车领 域"双牌照"的企业。据了解，目前上汽智己Robotaxi 累计订单超过30余万单，自动驾驶行程高达数百万 公里。上汽友道智途聚焦行业领先的全栈自研智驾技术，截至目前洋山港智能重卡商业运营集装箱量已 突破50万标准箱。（证券时报） ...