Group 1: Passenger Vehicles - The report anticipates a strong performance in Q3 2025, with a projected wholesale volume of 16.25 million units, reflecting a year-on-year increase of 5% and a month-on-month increase of 21% [1] - The sales of new energy vehicles (NEVs) are expected to reach 9.3 million units, with a year-on-year growth of 23% and a month-on-month growth of 42% [1] - The market share of domestic brands is projected to increase from 62% in 2024 to 69% in 2025, driven by strong performances from BYD, Geely, and Chery [20][24] Group 2: Motorcycles and Electric Two-Wheelers - The motorcycle industry is focusing on overseas expansion, particularly in Europe, where a high growth period is expected from January to October [2] - The electric two-wheeler market is anticipated to see strong sales growth in Q3, supported by policies and a demand upgrade, with a cumulative replacement volume of 6.5 million units by May 2025 [2][12] - The report highlights that the high-end electric two-wheeler market is becoming increasingly competitive, while the mid-to-low-end market is expected to consolidate, benefiting leading companies like Aima and Yadea [2] Group 3: Auto Parts - The report notes that tariffs are accelerating the globalization of domestic auto parts companies, with a focus on capacity relocation to regions like Mexico and Southeast Asia [3] - The optimization of supplier payment terms to within 60 days is expected to improve the health of the industry chain, particularly benefiting leading auto parts suppliers [3] Group 4: Intelligent Driving and Robotics - The Robo X initiative is gaining momentum, with significant advancements in logistics cost reduction and the commercialization of Robotaxi services [4] - The report emphasizes the importance of technological iterations in the intelligent driving sector, with a notable increase in the penetration rate of high-end driving assistance features in vehicles priced below 200,000 yuan [4][19] - In the robotics sector, the investment paradigm is shifting towards companies that can deliver real orders and have a strong technological and production capacity [5]

Group 1 - The A-share market opened higher with the Shanghai Composite Index rising by 0.04% and the ChiNext Index increasing by 0.33%, driven by sectors such as controllable nuclear fusion, football concepts, and Hainan [1] - Dongwu Securities anticipates June to be a new trading starting point with a focus on the technology sector, which is expected to experience a series of catalytic events, benefiting from a weak dollar environment [1] - Key investment themes and industry trends to watch include AI edge applications (AI smartphones, AI glasses), AI large models, humanoid robots, controllable nuclear fusion, deep-sea technology, and autonomous driving [1] Group 2 - Everbright Securities predicts that the market will maintain a volatile trend in June, leaning towards defensive styles due to internal and external factors, including domestic consumption, domestic substitution, and low fund allocation [2] - The current policy environment is focused on stability, with a lower likelihood of strong economic expectations in the short term, and the market is near early April levels, suggesting limited trading enthusiasm in June [2] - The five-dimensional industry comparison framework indicates that sectors such as coal, public utilities, banking, non-bank financials, construction decoration, and oil and petrochemicals are likely to be of high interest for investors [2] Group 3 - Dongfang Securities notes that recent concerns over tariffs may temporarily suppress market sentiment, but the market is gradually becoming desensitized to these concerns [3] - The recovery in the manufacturing PMI in May indicates resilience in the domestic economic fundamentals, which is expected to provide support for the market [3] - Investment opportunities are anticipated in sectors such as aerospace and military, domestic substitution, and new consumption [3]