（文章来源：每日经济新闻） 汽车ETF（516110）跟踪的是800汽车指数（H30015），该指数聚焦于中国汽车行业，从市场中选取涉 及整车制造、零部件供应及相关服务业务的上市公司证券作为指数样本，以反映汽车行业相关上市公司 证券的整体表现。指数覆盖新能源车、传统燃油车等细分领域，兼具行业代表性和市场敏感度特征。 华龙证券指出，汽车反内卷新政出台，行业价格乱象有望纠正。2025年12月12日，国家市场监督管理总 局发布《汽车行业价格行为合规指南（征求意见稿）》，从生产端、销售端和制度建设三方面对汽车行 业价格行为进行规范，重点禁止的行为包括采用直接或间接等各类行为使得生产端出厂价格低于生产成 本、使用欺骗性、误导性的信息提供虚假的销售价格或不明确标识价格/配置等。《指南》发布后，已 有比亚迪、北汽集团和小鹏汽车等多家车企表态积极响应。本次《指南》的发布是2025年初以来汽车行 业反内卷的重要政策拼图，有望进一步遏制不合理、不合法竞争行为，从零部件到整车厂再到经销商的 各环节盈利空间也有望迎来边际修复。 ...

汽车ETF（516110）跟踪的是800汽车指数（H30015），该指数从市场中选取涉及汽车制造及相关产业 链的上市公司证券作为指数样本，涵盖整车制造、零部件供应等业务领域，以全面反映中国汽车行业的 整体表现与发展趋势。指数风格配置兼顾价值与成长特性，具有较强的行业代表性和市场影响力。 （文章来源：每日经济新闻） 中信期货指出，10月汽车旺季产销持续，出口端维持高增长。1）乘用车：前10月乘用车零售销量1925 万辆（同比+8%），新能源车零售销量为1015辆（同比+22%），燃油车零售销量为910辆（同 比-4%），以旧换新政策持续托底内销增长；前10月乘用车出口销量为559万辆（同比+23%），新能源 乘用车出口销量为198万辆（同比+87%），出口维持高增长。2）商用车：前10月货车批发销量达302万 辆（同比+9%），10月增速符合预期；2025年前10月重卡批发销量为93万辆（同比+24%），天然气重 卡销量约为14.5万辆（同比-2%），渗透率达18%（同比-3.6pcts）。3）后续展望：2025年以旧换新政策 迎来尾声，预计2025年汽车销量为3431万辆，同比+10.2%，带动钢/铜/铝/锂 ...

Core Viewpoint - The automotive industry in China is experiencing structural growth, with significant increases in both domestic and export sales, particularly in the new energy vehicle (NEV) segment, which is driving the overall market performance [1] Industry Summary - July automotive sales increased by 14.7% year-on-year, with domestic sales up by 12.6% and exports rising by 22.6% [1] - New energy vehicle sales grew by 27.4%, accounting for 48.7% of total automotive sales, with exports seeing a remarkable increase of 120% [1] - The industry is witnessing a continuous rise in new energy penetration rates, indicating a shift towards more sustainable automotive solutions [1] Company Summary - XPeng Motors and Volkswagen Group have expanded their collaboration on electronic and electrical architecture technology, integrating jointly developed systems into Volkswagen's platforms for pure electric, fuel, and plug-in hybrid vehicles in the Chinese market [1] - The issuance of demonstration operation licenses for intelligent connected vehicles and Tesla's plans for smart assisted driving in China are accelerating the industry's move towards greater intelligence and automation [1] - The retail market for passenger vehicles saw a year-on-year increase of 6.3%, with several new models performing exceptionally well [1] ETF Summary - The automotive ETF (516110) tracks the 800 automotive index (H30015), which selects representative companies from the Chinese automotive industry, including vehicle manufacturing and parts supply, to reflect the overall performance of listed companies in the sector [1] - This index is characterized by strong industry features and market representation, providing a comprehensive view of the automotive industry's development trends [1]

Core Viewpoint - The automotive ETF (516110) has dropped over 3%, but the long-term trends of intelligent driving commercialization and electrification are progressing in parallel [1] Industry Summary - According to the latest data from the Passenger Car Association, from May 1 to May 18, the national retail sales of passenger cars reached 932,000 units, a year-on-year increase of 12%. Among these, retail sales of new energy vehicles (NEVs) were 484,000 units, achieving a penetration rate of 52% [1] - The China Association of Automobile Manufacturers reported that from January to April, the market share of domestic brand passenger cars reached 68.7%, marking a historical high. In April alone, sales increased by 23.5% year-on-year to 1.571 million units [1] - According to Kaiyuan Securities, intelligent driving is gradually moving towards commercialization, with limited operational design domains (ODD) and specific speed autonomous driving expected to achieve commercial closure first, particularly in logistics and sanitation scenarios where advantages are already evident [1] - The passenger car industry is seeing a surge in new product releases, indicating that intelligent driving features are becoming a key differentiator in competition. Retail sales of narrow passenger cars in May are expected to reach 1.85 million units, with NEV penetration exceeding half, continuing the trend of electrification in the industry [1] - The global commercialization of autonomous driving is steadily advancing, and the components sector is benefiting from domestic substitution and overseas expansion. Some companies are actively transitioning into the robotics field, which may lead to valuation premiums [1] ETF Summary - The automotive ETF (516110) tracks the 800 Automotive Index (H30015), which is compiled by China Securities Index Co., Ltd. This index focuses on the automotive industry chain and comprehensively reflects the overall performance of listed companies related to the automotive sector, showcasing distinct industry characteristics and representativeness [1]

Group 1 - The core viewpoint of the article indicates that global sales of new energy vehicles (NEVs), including Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and hydrogen fuel cell vehicles, are projected to reach 4.02 million units in Q1 2025, representing a year-on-year growth of 39% [1] - The automotive industry is expected to see a positive trend in its fundamentals in the medium term, supported by increased investments from public funds [1] - Investors are advised to focus on the automotive ETF (516110) for long-term investment opportunities, particularly during market dips [1] Group 2 - The automotive ETF (code: 516110) tracks the 800 Automotive Index (code: H30015), which includes listed companies involved in vehicle manufacturing, sales, parts production, and related services, aiming to reflect the overall market performance of China's automotive industry [1] - For investors without stock accounts, alternative options include the Guotai Zhongzheng 800 Automotive and Parts ETF Initiated Link A (012973) and Link C (012974) [1]