In early trading on the 20th, the new energy vehicle industrial chain in Hong Kong stocks showed active performance, with GEELY AUTO leading gains by rising over 5%. CATL, Ruipu Lanjun, China National Heavy Duty Truck, Horizon Robotics, and Xifeng Group all saw increases exceeding 3%. Among popular ETFs, the CHINAAMC CSI HONG KONG STOCK CONNECT AUTOMOTIVE INDUSTRY THEMATIC ETF (520780), which focuses on Hong Kong's new energy vehicle sector, rose more than 2% during the session, with trading volume exceeding 32 million yuan.

In March, the conflict between the US, Israel, and Iran showed signs of escalation, increasing market expectations that the conflict would prolong and the Strait of Hormuz would remain blocked for an extended period. Oil prices remained in a state of high volatility. Considering the relative rigidity of crude oil supply, market analysts pointed out that even if the Middle East situation eases subsequently, oil price levels are unlikely to fall back to the pre-conflict range of $60–70 per barrel in the short to medium term.

Dongfang Securities stated that against the backdrop of rising oil price benchmarks, the cost advantage of new energy vehicles over fuel-powered vehicles will continue to widen. Due to cost considerations and energy security concerns, it is expected that countries worldwide will increasingly favor the promotion and adoption of new energy vehicles, thereby accelerating the global penetration rate of new energy vehicles. Chinese automakers, especially independent brands, possess competitive advantages in the global new energy vehicle sector and are expected to accelerate the export of new energy vehicles and capture overseas market share. Overseas markets will become a significant growth driver for Chinese independent automotive brands.

From an investment strategy perspective, Dongfang Securities indicated that certain auto parts companies with strong alpha potential are expected to withstand industry risks and achieve revenue and profit growth. The data center liquid cooling and gas power generation industrial chains, as well as auto parts and high-level autonomous driving industrial chains confirmed to enter the supporting supply chains for robots such as Tesla, Figure, Zhiyuan, and Yushu, will continue to experience catalytic growth.

For exposure to the Hong Kong Stock Connect automotive industrial chain, it is recommended to focus on the CHINAAMC CSI HONG KONG STOCK CONNECT AUTOMOTIVE INDUSTRY THEMATIC ETF (520780). The underlying index concentrates on vehicle manufacturers while also covering segments such as auto parts and industrial metals. It benefits from multiple positive factors, including strong automotive consumption momentum, accelerated implementation of L3–L4 autonomous driving, and spillover effects from robotics advancements. The ETF also holds significant positions in稀缺 Hong Kong-listed intelligent driving leaders such as XPeng, BYD, Li Auto, and GEELY AUTO.

A golden cross signal has formed in the MACD indicator, indicating favorable momentum for these stocks.