Zhongxin Jiandou: Commercial vehicle configurations, passenger car market stabilization, and physical AI layout are all coming at the right time.

CITIC Construction Investment pointed out that at the current time, the January production and sales data of automobiles are being released one after another. Passenger cars are under some pressure on a month-on-month basis, while heavy trucks and buses are better than expected. The commercial vehicle market outlook and performance expectations are relatively favorable. The development of the automotive intelligence and robotics sectors around events such as Tesla's progress is the focus of trading. Catalysts are expected to intensify around March, including: the comprehensive entry of FSD into China, the formal release of Optimus V3, robot performances at the Spring Festival Gala, and the mass production of Cybercab. It is currently recommended to actively layout in these areas.