On December 12, a research report released by CITIC Securities indicated that there is a substantial likelihood that the automotive industry's old-for-new car replacement policy will persist into 2026. Nevertheless, the industry might still face a phase of demand overdraft during the first quarter. The report advises investors to concentrate on Chinese enterprises boasting global competitiveness and to stay abreast of emerging industry trends. Investment avenues anticipated to excel in the first half of 2026 encompass the following:

• Firstly, leading passenger and commercial vehicle firms with consistently thriving overseas operations and significant profit elasticity.
• Secondly, investment prospects in top-tier intelligent driving companies, their upstream industrial chains, and L4-level autonomous driving firms, spurred by the swift adoption of autonomous driving technologies.
• Thirdly, the ongoing trend in the humanoid robot industry is expected to provide a dual boost to the performance and valuation of related sectors. It is advisable to keep an eye on core component companies that are upstream suppliers to humanoid robot firms like Tesla.