New energy vehicle industry profitability inflection point may emerge, Yifang Intelligent Vehicle ETF rises 1.32%

As of 10:10 AM on March 13, the Shanghai Composite Index increased by 0.02%, the Shenzhen Component Index rose by 0.36%, and the ChiNext Index gained 0.56%. In the ETF sector, Smart Automotive ETF E Fund (516590) increased by 1.32%, with constituent stock Putailai (603659.SH) hitting the daily limit. BTR (920185.BJ), Hunan Youneng (301358.SZ), and Ningjie Co., Ltd. (002812.SZ) rose over 5%. Additionally, Fulin Precision (300432.SZ), Tianqi Lithium (002466.SZ), Zhongkuang Resources (002738.SZ), Ganfeng Lithium (002460.SZ), Tinci Materials (002709.SZ), and China Baoan (000009.SZ) also saw gains.

In news, NIO released its Q4 2025 financial report, achieving its first quarterly profit, with a Non-GAAP net profit attributable to shareholders of 730 million yuan. This milestone boosted market expectations for a turning point in profitability and fundamental improvement in the new energy vehicle industry, serving as a key catalyst for positive sentiment in the sector.

Bank of China Securities stated that by 2026, high-level autonomous driving is expected to develop into an independent growth track, unaffected by pressure on vehicle sales. Currently, high-level autonomous driving technology is progressing through iterative upgrades and entering a stable mass production phase. Continued policy support also safeguards industry growth, with the industrial chain gradually improving from top to bottom. As the era of autonomous driving equality begins, companies specializing in third-party autonomous driving systems and cost-effective autonomous driving solutions are expected to benefit.

Everbright Securities pointed out that high-level autonomous driving may reach a commercialization inflection point, while humanoid robots still await event-driven catalysts: Autonomous driving: 1) It is expected that autonomous driving will become one of the features in passenger cars, with ongoing optimism about increased penetration of L2+ systems driving related component shipments; 2) The commercialization of L3 and above autonomous driving is expected to accelerate by 2026, with opportunities for increased sales of detection and alert systems, as well as integrated driving assistance data recording systems (DSSCDA). Related testing agencies are also expected to benefit; 3) Focus on the application of L4 unmanned mining trucks and logistics vehicles in commercial scenarios. Humanoid robots: impressive appearances at the Spring Festival Gala, with Tesla (TSLA.US) and Xpeng indicating mass production targets for 2026. We believe humanoid robots will remain a key investment theme in 2026, with short-term catalysts expected from Tesla’s V3 release, and attention to domestic supply chains, domestic AI chips and algorithms, and technological breakthroughs.

Guolian Minsheng Securities noted that various regions are gradually launching 2026 old-for-new subsidy programs, which may stabilize and boost automobile sales.

Smart Automotive ETF E Fund (516590) is comprehensively positioning itself to capitalize on opportunities in the automotive intelligence and electrification industries.