According to a research report by CITIC Securities, the intelligent driving and robot sectors adjusted significantly this week. In the absence of obvious negative fundamentals, the sector's correction may be due to the realization of profit-taking funds at high stock prices. Based on the clear judgment of the industry trend, we maintain a bullish view. Intelligent driving focuses on the increase in BYD's intelligent driving version of new cars starting in March, and the supply and demand of cameras and other upstream and midstream industrial chains; robots focus on the industrial chain with performance support, high winning rate of fixed points, and expected difference targets. We are optimistic about the reshaping of the valuation of the whole vehicle and intelligent driving industry chain in 2025. The investment opportunity of the whole vehicle lies in the increase in sales and profits after intelligent empowerment. The investment opportunity of parts lies in the steady realization of the performance of hardware companies in the 1-10 stage, the valuation improvement of suppliers with new technologies + new business models in the 0-1 stage, and the direction of potential bottlenecks in the supply chain.