This week's market: April 27 to April 30MostrecentpowerballnumbersAuto parts rose by 1.Mostrecentpowerballnumbers.58%, commercial passenger cars fell 1.89%, passenger vehicles fell 2.87%, commercial trucks fell 3.68%, and the CSI 300 index rose 0.56%. Industry level: 1) Tesla FSD accelerates, and the new model is expected to launch in 2025: on April 28, Musk's visit to China is intended to promote Tesla'sMostrecentpowerballnumbersThe fully autopilot (FSD) system was launched in China, and then Tesla APP showed that the FSD was changed from "to be launched later" to "to be launched soon". In addition, Tesla's new model is expected to go on sale in 2025. 2) BYD Dynasty launched a preferential car purchase policy, with a subsidy of up to 18000 yuan: a few days ago, in response to the call of the national car trade-in action, BYD launched a preferential car purchase policy for its various models, with replacement subsidies up to 18000 yuan. including state subsidies up to 10000 yuan and BYD subsidies up to 8000 yuan. Company level: 1) BYD: BYD released 2024Q1 results on April 29. During the reporting period, the company had revenue of 124.94 billion yuan, year-on-year + 3.97%, and net profit of 4.569 billion yuan, + 10.62% compared with the same period last year. 2) Cyrus: on April 29, the company released its annual report of 2023 and quarterly report of 2024, with revenue of 35.842 billion yuan in 2023, + 5.09% year on year, and net profit of-2.45 billion yuan, 36.07% compared with the same period last year. 2024Q1's revenue was 26.561 billion yuan, year-on-year + 421.76%, month-on-month + 38.61%, and its mother's net profit was 220 million yuan, from negative to positive. Investment advice: 1) Tesla FSD into China and accelerated promotion of new models, and the introduction of a trade-in policy, the relevant industrial chains and low-and middle-end models are expected to benefit: domestic Tesla FSD may be landed in the near future, in addition, Tesla confirmed that entry-level models will be put on sale in 2025, or significantly increase Tesla's global production and sales, which is good for the performance of the industrial chain. In addition, recently, the policy of trade-in has been introduced, and the scope of subsidy is limited to more than 6-year-old new energy passenger cars with emission standards of three or less in scrapped countries, which is good for price-sensitive, medium-and low-end brands. 2) the sales base gradually rose in the same period last year, focusing on the follow-up sales performance: there is a significant correlation between the trend of the automobile sector and the year-on-year base of sales. Due to the expiration of purchase tax concessions and new energy subsidy policies at the end of 2022, sales were low in early 2023 and reached an all-time high of 1.777 million in April 2023. 3) the automobile plate has a clear upward momentum in half a year.MostrecentpowerballnumbersContinue to be bullish on the dimensional performance of the automobile sector for more than half a year, and supporting policies for various localities and automobile companies have been introduced one after another, despite the withdrawal of funds from a small number of game policies, short-term weekly data fluctuations and short-term shocks caused by the high base from May to June last year. However, the expectation of medium-and long-term repair of the automotive sector is clear, multiple policies stimulate superimposed economic recovery, and Tesla's industrial chain in China is repaired. We are still optimistic about the automotive sector shock upward in the second quarter, and continue to rise in the third and fourth quarters, the industry leader is expected to achieve excess performance. Related target: whole vehicle: BYD, Changan Automobile, SAIC, Cyrus, BAIC Blue Valley, Dongfeng Group, Xiaopeng Automobile. Spare parts: Fuyao Glass, Baolong Technology, Huguang shares, Songyuan shares, Dolly Technology, Eckerty, Top Group, Silver Wheel shares, Xinquan shares, Desai Xiwei, etc. Risk tips: passenger car sales, new energy vehicle sales, policy stimulus effect is not as expected. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.