申港证券近日发布汽车行业研究周报：2025年7月全国汽车销量、库存情况等数据公 布，车企新车型持续发布，居民购车需求持续释放，汽车市场热度延续，市场表现持续向 好。新能源汽车销量增速依然保持较高水平。伴随各项刺激政策效果不断显现，汽车销量有 望继续攀升。 以下为研究报告摘要： 投资摘要： 市场回顾： 汽车板块本周涨跌幅为3.08%，在申万31个板块中位列第9位。 汽车行业本周跑赢沪深300。本周上证指数、沪深300、深证成指、创业板指的涨跌幅分 别为1.70%、2.37%、4.55%、8.58%。 每周一谈：7月新能源汽车表现亮眼 2025年7月全国汽车销量、库存情况等数据公布，车企新车型持续发布，居民购车需求 持续释放，汽车市场热度延续，市场表现持续向好。新能源汽车销量增速依然保持较高水 平。伴随各项刺激政策效果不断显现，汽车销量有望继续攀升。 总体销量：7月汽车销量为259.3万辆，同比增加14.7%。今年1-7月，汽车累计销量为 1826.9万辆，同比增长12%。 库存情况：7月汽车经销商综合库存系数为1.4，同比减少10%，环比减少4.9%。同期经 销商库存预警指数为57.2，同比减少2.2，环比增加 ...

ETF Industry News Summary Group 1: Market Performance - The three major indices experienced fluctuations and slight declines, with the Shanghai Composite Index down by 0.05%, the Shenzhen Component Index down by 0.05%, and the ChiNext Index down by 0.13% [1][5] - Several automotive sector ETFs saw gains, including the Automotive Parts ETF (562700.SH) up by 1.96%, the Automotive Accessories ETF (562260.SH) up by 1.69%, and the Automotive Components ETF (159306.SZ) up by 1.50% [1][12] - In contrast, multiple utility sector ETFs declined, with the Power ETF (561700.SH) down by 2.23%, the Green Power ETF (562550.SH) down by 2.14%, and the Power ETF (159611.SZ) down by 2.04% [1] Group 2: Automotive Sector Insights - According to Shenwan Hongyuan, the recent unveiling of numerous SUV models is expected to stimulate overall demand for mid-to-large SUVs, supported by terminal pricing policies that aid companies in achieving growth during the 5/1 sales period [1] - The automotive sector is highlighted by technological advancements, with high-level L3 automation and robotics attracting consumer interest during auto shows [1] - Export expectations have recently improved, providing valuation support for the overall components sector, indicating that future market trends will likely focus on strong brands and leading component manufacturers [1] Group 3: ETF Fee Adjustments - Multiple fund companies received notifications from index companies regarding a reduction in index usage fees, with rates adjusted to 80% of the original fee and a quarterly minimum fee cap set at no more than 20,000 yuan [3][4] - Prior to this adjustment, the usage fee rates for stock ETFs were generally 0.03% per year, while bond ETFs were at 0.02% per year [3] Group 4: ETF Category Performance - The average performance of different ETF categories was assessed, with commodity ETFs showing the best performance, averaging a gain of 0.42%, while stock strategy ETFs had the worst performance, averaging a decline of 0.33% [10] - The top-performing ETFs included the Automotive Parts ETF (562700.SH), Automotive Accessories ETF (562260.SH), and Media ETF (159805.SZ), with daily returns of 1.96%, 1.69%, and 1.65% respectively [12][13] Group 5: Trading Volume Insights - The top three ETFs by trading volume were the A500 ETF Fund (512050.SH) with 2.523 billion yuan, the CSI A500 ETF (159338.SZ) with 2.295 billion yuan, and the CSI A500 ETF Southern (159352.SZ) with 2.124 billion yuan [15][17] - In the bond ETF category, the 30-Year Treasury ETF (511090.SH) led with a trading volume of 7.215 billion yuan, followed by the Short-term Bond ETF (511360.SH) with 6.929 billion yuan [17]