Guolian Minsheng Securities: AI + Automobiles Accelerate Evolution, Smart Driving & Robots & Globalization Resonate Together.

Guolian Minsheng Securities released a research report stating that looking ahead to the second half of 2026, the continuous policy of replacing old with new will provide support for demand. The firm expects wholesale sales volume in 2026 to reach 29.61 million vehicles, up 0.2% year-on-year, driving a slight increase in revenue for automotive parts companies. Overall, smart electrification parts > traditional parts, with smart electrification parts prioritizing intelligent > electric > automotive electronics, and traditional parts prioritizing interior and exterior decoration = chassis parts > tires > white bodies. Intelligent electrification is reshaping the industry, with global expansion opening up long-term opportunities for parts, favoring the autonomous & new forces industry chain + intelligent & robotic increment, and recommending focusing on the intelligent & new forces industry chain.