CITIC Securities pointed out that with the upcoming launch of the extended-range version of the M8 and S9, the attention paid to Huawei's vehicles has increased. The subsequent vehicle sector will enter a period of intensive new vehicle releases and order catalysis. At the same time, the subsidies for the replacement of old commercial vehicles with new ones have exceeded expectations, and the configuration value of commercial vehicles is emphasized. At present, robots are undergoing iterative processes in technology, mass production, and applications. The industry trend has not changed. Robots are still the intersection of this round of technological and AI changes, and callbacks are still buying opportunities. At the same time, on March 29, the relevant person in charge of the State-owned Assets Supervision and Administration Commission of the State Council stated at the China Electric Vehicle Hundred People Forum that the next step will be to carry out a strategic reorganization of central enterprises in the whole vehicle industry to create a world-class automobile group with global competitiveness, independent core technologies, and leading the intelligent network transformation.