Commodity consumption remains a vital area for stimulating consumption and benefiting livelihoods. The Ministry of Commerce will next advance pilot reforms in auto distribution and consumption.

On November 27, the market surged intraday before retreating. Organic silicon stocks led gains, while solid-state battery and consumer electronics sectors showed strength. Photovoltaic equipment also outperformed, whereas Hainan Free Trade Port, lab-grown diamonds, AI applications, and aquaculture lagged.

The anti-influenza concept continued its active trend, with 特一药业, 广济药业, and 海王生物 hitting limit-up, while 粤万年青 surged 20%. Data from Meituan’s pharmacy platform showed rising demand for flu-related medications. Since November, orders for anti-influenza drugs like baloxavir marboxil and oseltamivir phosphate surged over 100% and 85% month-on-month, respectively.

**Ministry of Commerce: Holistic Expansion of Auto Consumption** At a State Council policy briefing, Yang Ye, an official from the Ministry of Commerce, emphasized auto sector reforms. Measures include expanding used-car circulation and fostering aftermarket segments like customization, leasing, motorsports, and RV camping to drive end-to-end consumption growth.

Dongguan Securities maintains an overweight rating on autos, citing robust demand fueled by trade-in policies, extended subsidies, and surging NEV penetration (now exceeding 50%). Zhongyuan Securities projects a stable or mildly adjusted passenger vehicle market in 2026, with orderly price competition and export growth in commercial vehicles, especially light trucks and electric buses.

**Institutions Eye Oversold Stocks** Year-to-date, A-share auto stocks averaged a 38.4% gain, with 26 doubling in value. 天普股份 led with a 1076.8% surge after disclosing a takeover bid by Zhonghao Xinying in August, triggering 15 consecutive limit-ups. The company later clarified that Zhonghao Xinying is pursuing an independent IPO, dismissing rumors of a backdoor listing.

In November, 25 auto stocks received surveys from 10+ institutions. 九号公司-WD topped the list with 179 surveys, reporting strong Q4 activations and record "Double 11" sales (¥2.59B, up 68% YoY). 长安汽车 attracted 67 surveys, with its Deepal L06 model securing 20,000 orders within an hour of launch. Among surveyed stocks, 15 have corrected over 20% from yearly highs, including 豪恩汽电 and 比亚迪 (down >30%).