Industry Overview - The core focus of the new energy vehicle (NEV) industry is to reshape demand and expand the market, moving away from price wars towards healthy competition based on product quality [1] - The long-term goal of this transformation is to compel companies to invest profits into research and innovation, ultimately providing consumers with higher quality products [1] - One fundamental solution to the domestic overcapacity issue is to expand into global markets, enhancing the competitiveness of Chinese brands on the international stage [1] Market Dynamics - The current adjustment in the bond market has seen Ping An's bond ETF (511030) leading in terms of controlled drawdown, with the least market discount in the past week and a relatively stable net value [1] - The data indicates that since the bond market adjustment began on August 8, 2025, various ETFs have shown different levels of performance, with specific metrics such as weekly average discount and year-to-date changes being highlighted [1]

Core Viewpoint - Lantu Motors has made significant advancements in the Chinese electric vehicle market by launching the Lanhai Smart Hybrid Technology and announcing its upcoming listing on the Hong Kong Stock Exchange, reflecting strong investor optimism [1][2][26]. Group 1: Technological Breakthrough - The Lanhai Smart Hybrid Technology addresses the common issue of range anxiety in electric vehicles by combining a 63kWh battery that offers a pure electric range of 360-410 km, significantly surpassing the 100-200 km range of current hybrid models [8][10]. - This technology also features an 800V system for ultra-fast charging, allowing the battery to charge from 20% to 80% in just 12 minutes, marking a shift towards immediate charging solutions [10]. - Lantu's approach to hybrid technology is innovative, as it is developed from a pure electric architecture rather than following the conventional path from fuel to hybrid to electric, thus enhancing performance and user experience [11][14]. Group 2: User-Centric Development - Lantu Motors emphasizes a user-driven approach, termed "listening to advice," where product iterations are based on direct user feedback, leading to significant improvements in models like the Lantu FREE+ [16][18]. - The company has implemented a transparent production system and a comprehensive service package, ensuring long-term customer satisfaction and engagement [18][22]. - Collaborations with Huawei have allowed Lantu to integrate advanced driving technologies while maintaining its unique brand identity, enhancing consumer trust and decision-making [22][24]. Group 3: Long-Term Strategy - Lantu Motors adopts a long-term perspective, focusing on sustainable growth and high-quality development rather than immediate market capture, which distinguishes it from competitors [21][23]. - The company aims to leverage its technological advancements to drive regional industrial upgrades, contributing to the transition from traditional fuel vehicles to high-tech electric solutions [25]. - With plans to expand globally by establishing sales and service networks in over 60 countries by 2030, Lantu is positioning itself for significant international growth [25][26].

Investment Rating - The report maintains a rating of "B" for the new materials sector, indicating a positive outlook for the industry [2]. Core Insights - The new materials sector has shown an upward trend, with the new materials index increasing by 1.37%, although it underperformed compared to the ChiNext index, which rose by 1.81% [2]. - The report highlights the implementation of "anti-involution" policies in the new energy vehicle industry, which are expected to enhance the profitability of companies within the supply chain [4]. - The forecast for new energy vehicle sales in 2025 is projected to reach 16 million units, representing a year-on-year growth of 24.26%, indicating sustained growth in the industry [4]. Market Performance - The new materials sector experienced a weekly increase, with notable performances in various sub-sectors: synthetic biology index up by 4.18%, semiconductor materials up by 0.81%, electronic chemicals up by 1.10%, biodegradable plastics up by 1.74%, industrial gases up by 3.16%, and battery chemicals up by 1.45% [2][16]. - The overall market performance for the week (July 14-18, 2025) showed the CSI 300 index rising by 1.09%, the Shanghai Composite Index by 0.69%, and the ChiNext index by 3.17% [12]. Price Tracking - The report provides a weekly price tracking of various chemical products, including amino acids, biodegradable plastics, industrial gases, and vitamins, indicating stable prices for many products with slight fluctuations [3][11]. - For instance, the price of valine is reported at 14,400 RMB/ton with a weekly increase of 0.35%, while arginine is at 24,500 RMB/ton with a decrease of 2.00% [3]. Investment Recommendations - The report suggests focusing on companies such as Jun Ding Da, Times New Materials, Prit, and Nanjing Julong, which are expected to benefit from the favorable policies and market conditions [5].