On February 6, the stock indexes of the two cities rose strongly, with the Shanghai Composite Index rising by more than 3%, the Shenzhen Component Index and the ChiNext Index soaring by more than 6%, and the Beijing Stock Exchange 50 Index rising by more than 9%; The turnover of the two cities exceeded 900 billion yuan, and the net northbound funds exceeded 12 billion yuan.
Most of the industry sectors closed up, energy metals, biological products, non-metallic materials, electronic chemicals, semiconductors, medical equipment, photovoltaic equipment sectors rose first, decoration and decoration, real estate services, engineering consulting services, and education sectors fell first. According to China.com, on February 6, Sheng Qiuping, vice minister of commerce, said at a press conference that the Ministry of Commerce will introduce highly targeted policy measures to stimulate potential consumption. Stabilize and expand traditional consumption, deepen the transformation of automobile consumption from purchase management to use management, promote the high-quality development of the automotive aftermarket, and boost bulk consumption such as new energy vehicles and home appliances. Shengang** said that the auto sector will still have a beta effect in 2024, and it is recommended to pay attention to high-quality companies in the sector with good fundamentals at this stage, with extremely high cost performance after the valuation switch, and actively layout the beginning of the year**; Guohai believes that the medium-term change trend of the automotive industry remains unchanged, which will drive the medium and long-term growth of high-quality automotive targets; Minsheng ** pointed out that the singularity of automotive intelligence has arrived, and the incubation opportunities for independent technology output are optimistic, and high-quality independent car companies with relatively leading intelligent layout, product cycle and brand cycle are upward. 
Shengang**: The auto sector will still have a beta effect in 2024
In 2023, China's automobile exports will be 4.91 million units, a year-on-year increase of 58%, maintaining rapid growth, and it is expected to continue the trend in 2024. In 2023, the sales volume of self-owned brand passenger cars will be 14.6 million, a year-on-year increase of 24%, and the market share will be 56%, an increase of 6% year-on-year1. The market share of domestic brands is expected to increase steadily due to the high sales of new energy vehicles and the expectation of domestic substitution. Based on the above two points, the automotive sector will still have a beta effect in 2024. It is recommended to pay attention to high-quality companies in the sector with good fundamentals at this stage, which have extremely high cost performance after the valuation switch, and actively layout the beginning of the year. In the field of complete vehicles, it is recommended to pay attention to BYD, Li Automobile, Changan Automobile, Geely Automobile and other parts fields, and it is recommended to pay attention to Desay SV, Yinlun Co., Ltd., Tuopu Group, Joyson Electronics, Baolong Technology, iKedi, etc. Guohai**: The medium-term trend of change in the automotive industry remains unchanged
The medium-term change trend of the automotive industry remains unchanged, which will drive the medium- and long-term growth of high-quality automotive targets. Electrification: There is still room for improvement in domestic energy penetration; Intelligent: High-end intelligent driving is expected to enter a large-scale cycle in 2024; High-end: the structure of the independent brand is upgraded, and the product coverage is moved upward; Globalization: Domestic automakers are entering a period of overseas expansion, and overseas bases for high-quality domestic parts will gradually enter the harvest period in 2024. Technological changes, structural upgrading, and overseas expansion in the automotive industry are still in rapid change, and high-quality automotive companies are expected to continue to grow in the new round of industrial changes from a medium and long-term perspective. It is recommended to pay attention to: Changan Automobile, Yinlun shares, BYD, etc.
People's livelihood**: The singularity of automotive intelligence has arrived
The singularity of automotive intelligence has arrived, and independent technology output incubation opportunities. Intelligent capabilities will become an important factor in the competition of car companies. With the inflection point of Tesla's FSD usage rate, the implementation of urban assisted driving by independent new forces has accelerated and Xpeng has opened a new business model. Judging that intelligent driving is gradually ushering in the triple inflection point of technology, user acceptance and business model, we are optimistic about high-quality independent car companies with relatively leading intelligent layout and upward product cycle and brand cycle. Open source**: new energy vehiclesThe investment cost performance of the sector is highlighted
At present, the PB valuation of the new energy vehicle sector (CSI Smart Electric Vehicle Index) is only 267 times. Located in the last 10 years 52The 8% quantile, superimposed domestic and foreign policies from the dimensions of protecting energy and promoting the development of intelligent driving technology, vigorously supports the development of the new energy vehicle industry, considering the continuous improvement of the prosperity of the new energy vehicle sector, the investment cost performance of the current sector is highlighted.
Hua Chuang**: China's auto exports remain booming
Overseas auto sales in the fourth quarter of 2023 increased by nearly double digits year-on-year, reflecting the recovery of the economy, and the slight sequential increase was in line with seasonality. China's auto exports remain high, and the growth momentum of the global market continues but slows down. In the short term, China's export-oriented parts enterprises still have the advantages of cost performance and service in their respective segments, and the medium and long-term overseas growth logic will bring a new growth curve to some companies. It is recommended to pay attention to the new car situation after the Spring Festival. Soochow**: The total amount is stable and risingVehicle electrification continues to permeate2024 is the year of the implementation of electric intelligent switching of automobiles, and it is also the year of full export rollout. 1. The total amount has risen steadily, electrification has continued to penetrate, upstream costs have decreased and the new selling point of intelligent driving has driven the acceleration of gasoline-electric switching; 2. The pattern of new energy vehicle companies continues to deduce the direction of "multi-strong", and the tail elimination is accelerated: the software-led intelligent driving transformation puts forward higher requirements for the "data closed-loop" capabilities of car companies, and the competition situation puts forward higher requirements for the iterative efficiency of the "closed-loop operation" of car companies, and the elimination competition is accelerated; 3. Intelligent driving and export are the two key directions, intelligent iteration accelerates the elimination of the industry, and global exports open up long-term growth space. (This article does not constitute any investment advice, and investors act accordingly at their own risk.) The market is risky, and investors need to be cautious. )
Article**: Oriental Wealth Research Center).