1月9日，智能汽车ETF（159889）盘中涨超1.7%，产业趋势与政策进展受关注。 招商证券指出，2026年是智能驾驶和Robotaxi产业爆发之年，产业趋势将持续受到市场关注。英伟达发 布开源VLA模型Alpamayo 1，标志着物理AI的"ChatGPT时刻"到来，无人出租车将成为首批受益领域。 行业进展方面，Waymo 2025年周单量突破45万单，特斯拉Robotaxi在奥斯汀扩大运营，FSD有望验证L2 到L4渐进路线的成功；小马智行在广州实现单车盈利转正，文远知行在阿联酋获得全无人驾驶商业许 可。政策层面，L3准入许可和自动驾驶交规测试国标立项显示法规进展提速，预计后续将加速推进。 智能驾驶产业链迎来密集催化，头部车企加码智能驾驶的决心将进一步加强。 智能汽车ETF（159889）跟踪的是CS智汽车指数（930721），该指数从A股市场中选取涉及智能驾驶、 车联网等领域的上市公司证券作为指数样本，覆盖从硬件到软件的全产业链。指数成分股在电子、计算 机、汽车等行业分布较为集中，能够综合反映智能汽车相关产业的整体表现。 （文章来源：每日经济新闻） ...

1月6日午后智驾板块"起飞"，智能汽车ETF（159889）上涨4.16%。 消息面上，1月5日，英伟达CEO黄仁勋在拉斯维加斯举行的CES展会上发布了Alpamayo平台，使汽 车能够在真实世界中进行"推理"。黄仁勋表示，首款搭载英伟达技术的汽车将于第一季度在美国上路。 英伟达此次发布的Alpamayo家族整合了三大基础支柱：开源模型、仿真框架和数据集，构建了一个完 整的开放生态系统供任何汽车开发者或研究团队使用。 其中，Alpamayo 1是业界首个为自动驾驶研究社区设计的思维链推理VLA模型，该模型通过类人思 维方式处理复杂驾驶场景，旨在打造能在意外情况下"思考"解决方案的车辆，例如交通信号灯故障等场 景。为解决自动驾驶长尾问题提供新路径，加速安全的自动驾驶技术开发。 根据方正证券，英伟达AIpamayo将率先搭载于2025Q2欧洲上市的奔驰CLA车型，并计划登陆美国 市场。NV基于自身技术构建的全球L4级自动驾驶与Robotaxi生态系统全景同步亮相，合作商包括国内 各大软件商、主机厂，以及Tier1零部件厂商。此外，千里智驾和吉利汽车也在CES发布其全新的辅助驾 驶品牌G-ASD，据悉已搭载于极氪、 ...

Market Overview - The A-share market continues its "opening red" trend, with the Shanghai Composite Index reaching a ten-year high. All three major indices closed higher, with the Shanghai Composite Index gaining 1.5%, the Shenzhen Component Index up 1.4%, and the ChiNext Index increasing by 0.75% [1] - The trading volume in the Shanghai and Shenzhen markets reached 2.81 trillion yuan, an increase of 260.2 billion yuan compared to the previous trading day. The market saw over a hundred stocks hitting the daily limit for two consecutive days, with high interest in sectors such as intelligent driving, commercial aerospace, and brain-computer interfaces [1] Intelligent Driving Sector - The intelligent driving concept was active today, with the Intelligent Automobile ETF rising by 4.16%. The industry is expected to see breakthroughs due to technological advancements and the implementation of policies and regulations. The Ministry of Industry and Information Technology has conditionally approved L3 product applications from two car manufacturers, marking a new phase of commercialization for intelligent driving in China [2] - At the CES 2026 conference, NVIDIA's CEO announced new AI inference technology for intelligent driving and a partnership with Mercedes to produce autonomous vehicles. Companies like Qianli Zhijia and Geely also launched new assisted driving brands at CES, indicating significant advancements in the sector [2] Chemical Industry - The chemical industry is expected to see improvements in supply-demand dynamics as supply-side reforms deepen and carbon peak initiatives progress. The Shaanxi Development and Reform Commission has proposed increasing electricity prices for high-energy-consuming products, which could raise costs for industries like chlor-alkali and calcium carbide, potentially leading to the exit of high-cost facilities [3] - The current "14th Five-Year Plan" is crucial for advancing carbon peak goals, with measures being implemented to control energy consumption, including the elimination of preferential electricity prices for high-energy-consuming products and the phasing out of chemical facilities over 20 years old. Investors are advised to pay attention to opportunities in leading chemical ETFs [3] Gold Market - The rising tensions in South America are increasing global uncertainty, which may enhance the safe-haven appeal of gold in the short term. In the medium to long term, loose liquidity and de-dollarization are expected to support gold prices. The long-term investment value of gold is viewed positively, with recommendations for investors to consider gold fund ETFs during market pullbacks to lower costs [3] - Central banks remain significant buyers of gold, and despite substantial increases in holdings over the past three years, the amount held is still relatively low compared to historical geopolitical turning points. Surveys indicate a continued moderate increase in gold purchases by central banks [3]

今日A股三大指数集体上涨，沪指上涨1.50%；深成指上涨1.40%；创业板指上涨0.75%；北证50指数上涨1.82%。全市场成交额达2.83万亿元，较上日有 所放量。 午后智驾板块"起飞"，智能汽车ETF（159889）大涨4.16%。 上涨驱动因素分析 消息面上，1月5日，英伟达CEO黄仁勋在拉斯维加斯举行的CES展会上发布了Alpamayo平台，使汽车能够在真实世界中进行"推理"。黄仁勋表示，首款 搭载英伟达技术的汽车将于第一季度在美国上路。英伟达此次发布的Alpamayo家族整合了三大基础支柱：开源模型、仿真框架和数据集，构建了一个完整 的开放生态系统供任何汽车开发者或研究团队使用。 政策端，工信部正式公布我国首批L3级有条件自动驾驶车型准入许可，两款分别适配城市拥堵、高速路段的车型将在北京、重庆指定区域开展上路试 点。同时，各城市Robotaxi运营范围也在不断扩大。我国L3级自动驾驶开始从测试阶段迈入商业化初期，中央层面对L3政策有了新的进展，下一阶段或是以 实现限定区域限定速度的试运营，为后续智驾商业化进程奠定了基础，2026年自动驾驶产业或迎来多个重大推进。 巨头相继入场，后续2026Q1可能 ...

风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供 参考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构 成投资建议或承诺。提及基金风险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产 品要素、风险等级及收益分配原则，选择与自身风险承受能力匹配的产品，谨慎投资。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 1月6日， 智能汽车ETF（159889）涨超1.2%。 兴业证券指出，2026年汽车以旧换新政策延续，并调整为按车价比例补贴，利好中高端车。新能源 乘用车补贴比例为车价的12%（最高2万元），燃油乘用车为10%（最高1.5万元）；置换更新新能源车 补贴8%（最高1.5万元），燃油车6%（最高1.3万元）。与2025年定额补贴相比，新政策精准挂钩车 价，高端电动车补贴金额稳定， ...

1月5日，智能汽车ETF（159889）涨超1.4%，政策与技术双轮驱动成焦点。 华龙证券指出，2026年汽车行业政策主旋律仍将以反内卷和国补延续为主。补贴方面，高层明确优 化"两新"政策实施，已有超过5个地市公开遴选以旧换新平台服务企业，深圳已明确2026年平台服务企 业遴选。反内卷方面，国家发改委强调对新能源汽车等产业加强供应链治理，保障中小企业款项支付， 营造互利共赢生态。市场层面，尽管面临新能源购置税减免退坡压力，但以旧换新补贴有望持续支撑销 量；企业层面，整治内卷式竞争将限制无序降价，车企盈利有望边际改善。行业数据显示，2025年11月 新能源乘用车零售渗透率达59.4%，L2.5及以上智驾渗透率32.19%，显示智能化、电动化趋势持续强 化。北京已发放首批L3级高速公路自动驾驶专用号牌，标志着自动驾驶进入量产应用阶段。 智能汽车ETF（159889）跟踪的是CS智汽车指数（930721），该指数从沪深市场中选取涉及终端感 知、平台应用等智能汽车相关业务的上市公司证券作为指数样本，覆盖电子、计算机、汽车等多个行 业，以全面反映中国智能汽车全产业链上市公司证券的整体表现。 风险提示：提及个股仅用于行业 ...

Group 1 - The core viewpoint is that the gradual relaxation of intelligent driving policies in China is expected to drive further growth for related companies, marking a significant step towards the commercialization of L3 autonomous driving vehicles [1] - The first batch of L3 autonomous driving vehicles in China has received approval for commercial use, with two models designed for urban congestion and highway conditions set to conduct pilot tests in designated areas of Beijing and Chongqing [1] - Tesla has initiated unmanned Robotaxi road testing in Austin, while XPeng Motors has obtained a road testing license for L3 autonomous driving and plans to launch mass-produced L4 autonomous vehicles by 2026 [1] - Guangzhou has achieved full-scale open demonstration operations for autonomous driving with safety personnel in vehicles, launching multiple demonstration operation routes [1] - China FAW plans to mass-produce solid-state batteries by 2027 for its high-end Hongqi flagship models [1] - Momenta has formed a strategic partnership with Grab to explore the integration of L4 autonomous driving capabilities into mass-produced vehicles [1] - The EU's decision to abandon the proposal to ban internal combustion engines by 2035 indicates flexibility in the policy environment [1] - These developments highlight that the smart automotive industry is experiencing a dual drive of policy support and technological breakthroughs, accelerating the commercialization process [1] Group 2 - The Smart Automotive ETF (159889) tracks the CS Smart Automotive Index (930721), which selects listed companies involved in smart driving and vehicle networking from the A-share market [2] - The CS Smart Automotive Index covers multiple industries, including electronics, computers, and automobiles, reflecting the overall performance of listed companies in the smart automotive sector [2] - The index is designed to represent the growth potential and investment value of companies related to the smart automotive industry [2]

Group 1 - The smart driving industry is expected to accelerate its development by 2025, with leading OEMs like BYD increasing their investment in smart driving, leading to a continuous rise in penetration rates [1] - In 2026, despite ongoing price competition among OEMs and pressure from subsidy reductions, there are still structural opportunities in the industry: 1) The competition landscape for smart driving chips is favorable, with significant room for domestic production rate improvement, as local manufacturers like Horizon Robotics, Black Sesame Intelligence, and Huawei have achieved mass production capabilities [1] - The overseas market is becoming an important growth driver, with low penetration rates in regions like Europe, the US, and Japan, allowing local Tier 1 and lidar companies to accelerate their international expansion based on product competitiveness [1] Group 2 - The new autonomous driving sector is witnessing breakthroughs from 0 to 1, with policies accelerating the commercialization of Robotaxi, and companies like Pony.ai are going public [1] - The commonality of technical architecture allows for the reuse of core components such as smart driving chips and sensors in the robotics field, creating industrial synergy effects [1] - The Smart Car ETF (159889) tracks the CS Smart Car Index (930721), which selects listed companies providing terminal perception and platform applications for smart cars from the Shanghai and Shenzhen markets, reflecting the overall performance of securities related to the smart car industry [1]

Market Overview - The market experienced a day of volatility with all three major indices opening lower and closing down. The Shanghai Composite Index fell by 1.11%, the Shenzhen Component by 1.51%, and the ChiNext Index by 2.1% [1][13] - The total trading volume in the Shanghai and Shenzhen markets was 1.72 trillion yuan, a decrease of 49.3 billion yuan from the previous trading day, with over 4,300 stocks declining [1][13] Macro Economic Factors - The Bank of Japan is set to discuss a potential interest rate hike from 0.5% to 0.75% during its monetary policy meeting on December 18-19, which would be the highest rate in 30 years [1][13] - Concerns about tightening liquidity and the ongoing worries regarding an AI bubble in overseas markets have contributed to market sentiment [1][13] AI and Semiconductor Sector - The semiconductor and AI-related sectors saw significant declines, particularly in communication and entrepreneurial AI stocks, likely due to weak overseas AI trading [3][15] - Despite recent downturns, there is a strong expectation for continued growth in capital expenditure in the AI sector next year, with a focus on upstream supply chain stocks in A-shares [3][15] - Communication ETF (515880) and semiconductor equipment ETF (159516) are recommended for investors looking to capitalize on domestic alternatives and AI-related opportunities [3][15][20] Automotive Sector - The smart automotive sector performed relatively well, with the smart automotive ETF (159889) rising by 0.19% [8][21] - The Ministry of Industry and Information Technology has granted approval for the first batch of L3 conditional autonomous driving vehicles, marking a significant step towards commercialization [8][21] - Tesla's advancements in L4 autonomous driving technology may serve as a benchmark for domestic players aiming to initiate similar operations [9][21] New Energy Sector - The new energy sector experienced notable declines, with the electric grid ETF (561380) down 3.13% and the photovoltaic ETF (159864) down 3.05% [11][23] - Factors contributing to this decline include external macroeconomic influences and the approaching sales off-season, leading to concerns about the sustainability of energy storage demand [11][23] - Despite the current downturn, the outlook for energy storage remains positive, with expectations of sustained demand into the first half of next year [11][24]

Group 1 - The smart automotive industry is showing a positive development trend, with Changan Automobile establishing a robotics company to drive mutual empowerment between the automotive and robotics sectors, aligning with the national "14th Five-Year Plan" [1] - The China Association of Automobile Manufacturers (CAAM) predicts that by 2025, China's automobile exports are expected to exceed 6.8 million units, and sales of new energy vehicles are projected to reach 16 million units, indicating a strong trend in industry exports and electrification [1] - Leap Motor has achieved its annual sales target of 500,000 units ahead of schedule and plans to reach 1 million units by 2026, reflecting robust market demand [1] Group 2 - The Smart Automotive ETF (159889) tracks the CS Smart Automotive Index (930721), which is compiled by China Securities Index Co., Ltd., selecting listed companies that provide key technologies and services for smart vehicles from the Shanghai and Shenzhen markets, covering the entire smart automotive industry chain [1]