Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced the incentive income for executives of central enterprises for the 2022-2024 term, which consists of annual salary and term incentive income, with the latter being distributed every three years [1][3]. Group 1: Incentive Income Overview - A total of 87 central enterprises have disclosed their incentive income for the 2022-2024 term [3]. - Notable executives and their respective incentive incomes include: - Jie Houliang, Chairman of China National Petroleum Corporation, with an incentive income of 86.21 million RMB [3]. - Ma Yongsheng, Chairman of Sinopec, with an incentive income of 84.81 million RMB [5]. - Wang Dongjin, Chairman of CNOOC, with an incentive income of 86.06 million RMB [7]. - Zhang Wei, Chairman of State Grid Corporation, with an incentive income of 78.17 million RMB [10]. - Meng Zhenping, Chairman of China Southern Power Grid, with an incentive income of 83.54 million RMB [11]. Group 2: Additional Executive Incentive Incomes - Other notable executives include: - Wen Shugang, Chairman of China Huaneng Group, with an incentive income of 63.47 million RMB [12]. - Zou Lei, Chairman of China Datang Corporation, with an incentive income of 80.02 million RMB [14]. - Liu Mingsheng, Chairman of State Power Investment Corporation, with an incentive income of 26.02 million RMB [16]. - Wang Xiangming, Chairman of China Resources Group, with an incentive income of 82.44 million RMB [36]. - Miao Jianmin, Chairman of China Merchants Group, with an incentive income of 85.08 million RMB [34].

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 東風汽車集團股份有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00489 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,828,982,000 | RMB | | | 1 RMB | | 2,828,982,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 2,828,982,000 | RMB | | | 1 RMB | | 2,828,982,000 | II. ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced the incentive income for executives of central enterprises for the 2022-2024 term, with a total of 87 enterprises disclosing their incentive income figures. Group 1: Incentive Income Overview - The total incentive income for central enterprise executives consists of annual salary and term incentive income, with the latter being distributed every three years [1]. - Notable figures include: - Jiao Houliang, Chairman of China National Petroleum Corporation, with an incentive income of 86.21 million RMB for the 2022-2024 term [1]. - Ma Yongsheng, Chairman of Sinopec, with an incentive income of 84.81 million RMB [3]. - Wang Dongjin, Chairman of China National Offshore Oil Corporation, with an incentive income of 86.06 million RMB [4]. Group 2: Specific Executive Incentive Income - Zhang Wei, Chairman of the National Oil and Gas Pipeline Group, has an incentive income of 78.17 million RMB [6]. - Meng Zhenping, Chairman of China Southern Power Grid, has an incentive income of 83.54 million RMB [8]. - Temperature of incentive income varies across different enterprises, with some executives like Liu Mingsheng from China Power Investment Corporation receiving 26.02 million RMB for the 2022-2024 term [13]. Group 3: Additional Notable Executives - Chen Zhongyue, Chairman of China Unicom, has an incentive income of 80.49 million RMB [17]. - Xu Peng, from China First Automobile Group, has an incentive income of 82.54 million RMB [23]. - Wang Xianming, Chairman of China Resources Group, has an incentive income of 82.44 million RMB [54].

2月3日，国务院国资委网站披露了所监管的80多家中央企业负责人2022-2024年任期激励收入。 两大汽车央企中，中国一汽的董事长邱现东先后任董事、党委副书记，和董事长、党委书记，任期激励收入为82.54万元。 | | | | 姓名 | 职务 | 任职起止时间 | 2022-2024年任期激励收入 | | --- | --- | --- | --- | | 邱现东 | 董事长、党委书记 | 2023年8月-至今 | 82. 54 | | | 董事、总经理、党委副书记 | 2020年7月-2023年8月 | | 东风汽车集团的董事长杨青任董事、总经理、党委副书记期间激励收入为34.25万元，任董事长、党委书记期间激励收入24.47万元。 | 姓名 | 职务 | 任职起止时间 | 2022-2024 年任期激励收入 | | --- | --- | --- | --- | | | 竺延风 董事长、党委书记 | 2022 年 1月-2023 年 3 月 | 24. 47 | | 杨青 | 董事长、党委书记 | 2023年10月-2024年12月 | 24. 47 | | 杨青 | 董事、总经理、党委副书记 | 202 ...

2月3日，国务院国资委网站披露了所监管的80多家中央企业负责人2022-2024年任期激励收入。两大汽 车央企中，中国一汽的董事长邱现东先后任董事、党委副书记，和董事长、党委书记，任期激励收入为 82.54万元。东风汽车集团的董事长杨青任董事、总经理、党委副书记期间激励收入为34.25万元，任董 事长、党委书记期间激励收入24.47万元。 （文章来源：第一财经） 按照中央企业负责人薪酬管理有关规定，中央企业负责人薪酬总收入由年度薪酬和任期激励收入构成， 其中，任期激励收入每三年发放一次。 ...

Core Insights - Dongfeng Motor Corporation is focusing on technology autonomy and high-quality transformation, with 2026 designated as the "Year of Technology Realization" [1] - The company aims to achieve a total sales target of 3.25 million vehicles in 2026, including 1.7 million new energy vehicles and 600,000 exports [3] Technology Development - Dongfeng's R&D investment intensity is projected to reach 7.9% in 2025, significantly above the industry average, supporting technological innovation [1] - The company has made breakthroughs in core components, including the mass production of the automotive-grade high-end MCU chip DF30 and a 67% localization rate for chips in its self-owned brand vehicles [1] - The Maher hybrid engine has achieved a thermal efficiency of over 48%, set to be widely applied in new energy vehicles launched in 2026 [1] Intelligent Systems - The "T200" intelligent driving system will be widely adopted in main models by 2026, offering L2+ level assistance for highways and urban roads [2] - The commercial vehicle sector is also advancing, with over 70 new energy models planned for release in 2025, including hydrogen fuel and hybrid vehicles [2] - The D600 strategic product platform has been established, featuring over 50 base models and more than 200 extended models, with an 80% modularization rate [2] Sales and Market Strategy - Dongfeng's product matrix covers high-end, mainstream, and niche markets, with specific strategies for each segment [3] - The company plans to launch 8 new models under the Dongfeng Yipai brand and 15 new or upgraded products under Dongfeng Fengshen from 2026 to 2028 [3] - The commercial vehicle segment targets a sales volume of 131,000 units in 2025, with a 34% increase to 176,000 units in 2026 [4] Organizational Reforms - Dongfeng will enhance the autonomy of frontline business units and improve incentive mechanisms to boost market responsiveness and operational efficiency [5] - The company aims to inject strong momentum into the high-quality development of the Chinese automotive industry through technology, brand, and reform initiatives [5]

Group 1: Overall Market Performance - In January 2026, major domestic automotive groups reported strong sales performance, with several companies achieving year-on-year growth in sales [2][5][19] - SAIC Motor Corporation sold 327,413 vehicles in January, marking a 23.9% increase year-on-year [5] - Geely Automobile's sales reached 270,167 units, a 1% increase year-on-year, with a 14% month-on-month growth [8] Group 2: Brand-Specific Performance - SAIC's self-owned brands accounted for 65.3% of total sales, with a 39.6% increase in sales of self-owned brands [5] - Geely's new energy vehicle sales reached 124,252 units, representing 46% of total sales, with a year-on-year growth of approximately 3% [8][9] - BYD's total new energy vehicle sales were 210,051 units, a decline of 30.11% year-on-year, but overseas sales surged by 51.47% [12] Group 3: Export and Overseas Market Growth - Chery Group maintained its position as the top exporter of Chinese automobiles, with exports reaching 119,605 units, a year-on-year increase of 48.1% [15] - SAIC's overseas sales reached 105,000 units, a 51.7% increase year-on-year, highlighting the growing importance of international markets [6] - BYD's overseas market expansion is becoming a significant growth driver, with nearly half of its total sales coming from exports [12] Group 4: Future Outlook and Strategies - Geely plans to launch 1-2 new products each quarter in 2026, aiming for an annual sales target of 3.45 million units [9] - GAC Group has set ambitious overseas sales targets for 2026, aiming for 250,000 units, with a goal of reaching 100,000 units in the Asia-Pacific market by 2027 [19] - Dongfeng Motor plans to introduce five new models in 2026 to support its growth in the new energy sector [24]

1月31日，2026年东风汽车媒体创享会在北京举行。会上发布的数据显示，2025年东风汽车集团有限公 司（以下简称"东风汽车"）自主品牌全年销量突破150万辆、自主销量占比超60%；新能源销量达到105 万辆，同比增长21%，转型从投入期进入收获期，迈入"规模与效益"良性循环新阶段。 基于2025年取得的成绩，东风汽车明确，2026年将推动技术从"纸面"落到"地面"，加快实现从"技术兑 现"到"价值共鸣"，锚定全年整体销量325万辆，新能源汽车销量170万辆、出口60万辆的新目标。 来源：@证券日报之声 ...

Group 1 - Dongfeng Motor Corporation has applied for a patent titled "A Redundant Control Method and System, Device, Medium Without Position Sensors," with publication number CN121425169A, and the application date is November 2025 [1] - The patent provides a method that includes obtaining RPS signals, estimating the motor's rotor angle and speed when RPS signals are invalid, and using these estimates for closed-loop control of the motor [1] - This invention effectively shields against instantaneous interference, prevents frequent functional degradation due to sensor failures, and enhances user experience by ensuring basic braking capability even after sensor failure [1] Group 2 - Dongfeng Motor Corporation, established in 2001 and located in Wuhan, primarily engages in the automotive manufacturing industry [2] - The company has a registered capital of 858,937,000 RMB and has made investments in 44 enterprises, participated in 5,000 bidding projects, and holds 5,000 patent records [2] - Additionally, the company possesses 156 administrative licenses, indicating a robust operational framework [2]

Core Insights - Dongfeng Motor Group has set ambitious sales targets for 2023, aiming for a total of 3.25 million units, a 30% increase year-on-year, with specific goals for electric vehicles and exports [1] - The company is facing challenges due to rising raw material costs and the reduction of subsidies, yet remains determined to achieve its targets [1] - Dongfeng is focusing on technological advancements and self-sufficiency, with plans to convert past investments into marketable products by 2026 [1][2] Group 1: Sales Performance - Dongfeng Yipai achieved over 21,000 deliveries in January, a 145% year-on-year increase [1] - Lantu Motors delivered 10,515 units in January, marking a 31% increase [1] - Dongfeng Fengshen also saw a 37% year-on-year growth in deliveries [1] Group 2: Strategic Goals - Dongfeng Yipai aims for a sales target of 180,000 units this year [1] - Dongfeng Fengshen targets 220,000 units, while Dongfeng Liuzhou aims for 250,000 units in the passenger vehicle sector [1] - Dongfeng Commercial Vehicles plans to achieve over 176,000 units by 2026 to regain its position as the industry leader [1] Group 3: Technological Development - Dongfeng's R&D investment is projected to reach 7.9% by 2025, with a focus on domestic chip production [2] - The DF30 chip has achieved a 67% localization rate, and new high-efficiency engines will be introduced in 2026 [2] - The integration with Huawei's technologies, including advanced driving systems and smart cockpit solutions, is a key part of Dongfeng's strategy [2][3] Group 4: Organizational Changes - Dongfeng is reforming its decision-making processes to empower frontline business units and streamline operations [4] - The company is shifting its joint venture strategy to focus on creating "Chinese standards" and "Chinese speed" in the automotive market [4] - Dongfeng aims to redefine its competitive edge in an increasingly crowded market by emphasizing cost stability and product quality [4]