Soochow's research report states that Tesla is expected to welcome a new growth cycle. The last round of electrification innovation dividends brought Tesla a growth cycle of 100,000 to 2 million vehicles, and this round of intelligent innovation cycle will bring Tesla to a scale of over 4 million vehicles. From 2025 to 2027, Tesla will enter a new cycle of products and production capacity, driving the high-quality companies in Tesla's industry chain with global expansion capabilities to grow together. Investment advice: Bullish on the industry chain opportunities brought by Tesla's new global product cycle. Recommended to pay attention to: Ningbo Tuopu Group - Tesla's core global strategic platform supplier, fully engaged in vehicle and robot layouts; Jiangsu Xinquan Automotive Trim - Tesla's core global interior parts supplier; Ningbo Xusheng Group - Global core lightweight supplier and robot product extension; Shanghai Daimay Automotive Interior - Global leader in sun visors, accelerating expansion of new products like ceilings; IKD Co., Ltd. - Tesla's core lightweight supplier in North America with expectations for robot business; Hengshuai Co., Ltd. - Comprehensive matching for cleaning and micro motors, accelerating pinpoint active cleaning; Huayu Automotive Systems - Tesla industry chain undervalued varieties; Zhejiang Sanhua Intelligent Controls - Tesla thermal management and robot actuator business.