Investment Rating - The industry investment rating is "Overweight," indicating an expected outperformance of the industry index relative to the benchmark by more than 5% over the next six months [23]. Core Insights - The smart automotive index increased by 2.1% this week, while the index excluding Tesla decreased by 2.3%. The index excluding complete vehicles rose by 3.3%. As of March 13, 2026, the smart automotive index PS (TTM) is 13.8x, placing it in the 91st percentile since the beginning of 2023 [2][10]. - Key developments in the industry include: 1) Jensen Huang tested NVIDIA's Alpamayo driving assistance system, achieving full autonomy during a 22-minute road test [2]. 2) WeRide and Pony.ai integrated with Tencent's ride-hailing service, allowing users to call and pay for Robotaxi services via WeChat [2]. 3) Amazon's Zoox is expanding its autonomous vehicle testing to Dallas and Phoenix, establishing an operations center in Arizona [2]. 4) Tesla is set to submit critical safety data to NHTSA, marking a significant milestone for its Full Self-Driving (FSD) technology [2]. Summary by Sections Industry Performance Review - The smart automotive index has shown a positive trend with a 2.1% increase, while the index excluding Tesla has seen a decline of 2.3%. The index excluding complete vehicles has increased by 3.3% [8][10]. Key Stock Tracking - Notable stocks in the smart automotive sector include: - Xpeng Motors (9868.HK) with a weekly increase of 19.1% - JD Logistics (2618.HK) with an increase of 8.0% - WeRide (WRD.O) with a 4.4% increase - Four-dimensional Map (002405.SZ) with a 3.3% increase - Sunny Optical Technology (2382.HK) with a 2.8% increase [13]. Investment Recommendations - The report suggests a continued positive outlook for the L4 RoboX theme in 2026, favoring B-end software companies over C-end hardware companies. Recommended stocks include: - H-shares: Xpeng Motors, Horizon Robotics, Pony.ai, WeRide, Cao Cao Mobility, and Black Sesame Intelligence - A-shares: Qianli Technology, Desay SV, and Jingwei Hirain [2].