转自：拉萨发布 近日 市场监管总局 发布最新召回通告 本次召回活动是在国家市场监督管理总局启动缺陷调查情况下开展的。受调查影响，北京奔驰汽车有限公司将通过授权经销商为受影响的车辆更换 高压电池，以消除安全隐患。 北京奔驰汽车有限公司召回部分国产EQA和EQB汽车 日前，北京奔驰汽车有限公司根据《缺陷汽车产品召回管理条例》和《缺陷汽车产品召回管理条例实施办法》的要求，向国家市场监督管理总局备 案了召回计划。 召回编号S2026M0026I：自2026年6月25日起，召回生产日期在2021年4月1日至2024年3月12日期间的部分国产EQA和EQB汽车，共计19481辆。 本次召回范围内的部分车辆，由于高压电池生产工艺波动导致电池可靠性下降，且现有的电池管理系统软件的控制策略可能造成这些电池单体承受 过大载荷，增加其内部短路的风险，可能导致车辆起火事故，存在安全隐患。 一起来看 ↓↓↓ 为了确保用车安全，在更换高压电池前，建议用户将车辆的充电上限设定为不超过80%，并将车辆停放在室外。 本次召回为2025年3月28日发布的《北京奔驰汽车有限公司召回部分国产EQA和EQB汽车》的再次召回，并扩大了召回范围。 东风汽 ...

Core Viewpoint - Beijing Automotive's stock performance has been weak due to declining earnings, intensified industry competition, and market sentiment [1] Group 1: Earnings Performance - The company issued a profit warning on February 10, 2026, expecting a net profit attributable to shareholders for 2025 to be between 110 million to 130 million yuan, representing a significant decline of 86.4% to 88.5% year-on-year [2] - The decline in earnings is primarily attributed to increased industry competition, lower-than-expected sales, and higher investments in new models and channels to promote the "Three-Year Leap Action" [2] - The Q3 2025 financial report indicated a staggering 98.35% year-on-year drop in net profit attributable to shareholders, reflecting ongoing pressure on profitability [2] Group 2: Industry Policy and Environment - The Chinese automotive industry is experiencing fierce price wars, with a rapid transition to new energy vehicles [3] - In 2025, Beijing Automotive achieved a sales volume of 1.07 million units for its self-owned brands, a year-on-year increase of 5.6%, but the sales of its joint venture, Beijing Benz, fell by 14%, while the net profit of the Mercedes-Benz Group dropped by 56%, negatively impacting overall profitability [3] - The company's capacity utilization rate has plummeted to around 15%, with some factories facing adjustments, raising concerns about asset efficiency in the market [3] Group 3: Stock and Capital Performance - As of February 12, 2026, Beijing Automotive's stock price was reported at 1.79 HKD, with a cumulative decline of 5.79% over the past 20 days, underperforming the Hang Seng Index, which fell by 0.87% during the same period [4] - On that day, there was a net capital outflow of 2.97 million HKD, with a net outflow of 1.95 million HKD from major funds, indicating a rise in short-term risk-averse sentiment [4] - Technically, the stock price is below all key moving averages (e.g., the 60-day moving average at 1.943 HKD), and the KDJ indicator is in the oversold range, reflecting a weak market condition [4] Group 4: Industry and Risk Analysis - Despite the launch of a vehicle trade-in subsidy of up to 20,000 yuan in Beijing in February 2026, the industry faces challenges in transitioning from "policy-driven" to "product-driven" growth [5] - The market is increasingly focused on the substantial improvement of companies' profitability, while Beijing Automotive has not shown a clear turning point in its short-term performance [5]

Major Events - Xian Dao Intelligent (00470) received a subscription rate of 79.54 times for its public offering in Hong Kong, with a final issue price of HKD 45.8 per share [1] - Shishi Pharmaceutical Group (02005) is expected to win bids for 45 products in the national centralized procurement [1] - Gilead Sciences-B (01672) has selected the oral amylin receptor agonist peptide ASC36 for clinical development [1] - China Railway Construction (01186) recently won major projects totaling CNY 451.42 billion [1] - Shoucheng Holdings (00697) invested in Qimiao Labi through its subsidiary fund, focusing on expanding its product matrix around core intellectual property [1] - Minshi Group (00425) plans to establish a joint venture to produce aluminum body frame components [1] - Fubo Group (03738) has reached a strategic cooperation with Xinglu Technology [1] - Jin Xun Resources (03636) plans to increase capital by a total of USD 44 million for its overseas subsidiaries [1] - Changfei Optical Fiber and Cable (06869) experienced abnormal fluctuations in A-share trading, clarifying that it does not engage in CPO-related businesses [1] Operating Performance - SMIC (00981) reported Q4 revenue of USD 2.489 billion, a quarter-on-quarter increase of 4.5%, with a gross margin of 19.2% [1] - PCCW (00008) reported a loss attributable to shareholders of HKD 253 million for the fiscal year 2025, narrowing by 16% year-on-year [1] - WuXi Biologics (02269) issued a positive profit alert, expecting a year-on-year profit increase of approximately 46.3% to CNY 4.908 billion for the fiscal year 2025 [1] - Dongyue Group (00189) issued a positive profit alert, anticipating over 100% year-on-year growth in profit attributable to owners for 2025 [1] - Elephant Future Group (02309) issued a positive profit alert, expecting a mid-term profit attributable to owners of approximately HKD 178 million, reversing from a loss [1] - Sihuan Pharmaceutical (00460) issued a positive profit alert, expecting revenue of no less than CNY 2.5 billion for 2025, with a growth rate exceeding 30% compared to the previous year [1] - Beijing Automotive (01958) expects a net profit attributable to the parent company of approximately CNY 110 million to CNY 130 million for 2025, a year-on-year decrease of about 86.4% to 88.5% [1] - COFCO Joycome (01610) issued a profit warning, expecting a loss attributable to shareholders of approximately CNY 230 million to CNY 350 million, reversing from profit year-on-year [1] - New Town Development (01030) achieved a contract sales amount of approximately CNY 714 million in January, a year-on-year decrease of 29.79% [1] - Yue Yuen Industrial (00551) reported a net operating income of approximately USD 705 million in January, a year-on-year decrease of 12.5% [1] - Baoshan International (03813) reported a cumulative net operating income of CNY 1.748 billion in January, a year-on-year decline of 32.5% [1]

Core Viewpoint - The company anticipates a significant decline in net profit for the year ending December 31, 2025, projecting a net profit of approximately RMB 110 million to RMB 130 million, representing a decrease of about 86.4% to 88.5% compared to the same period in 2024 [1] Group 1: Financial Performance - The expected net profit for 2025 is between RMB 110 million and RMB 130 million [1] - This represents a substantial decrease of approximately 86.4% to 88.5% compared to the net profit for 2024 [1] Group 2: Industry Context - The automotive industry is experiencing intense competition and rapid changes in the market landscape, which has impacted the company's sales performance [1] - The company has not met its expected annual vehicle sales due to these industry challenges [1] Group 3: Strategic Initiatives - To address market changes and seize industry development opportunities, the company is implementing a three-year leap strategy [1] - The company plans to launch multiple new vehicle models and enhance its brand, while also accelerating channel development and market investment [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 北京汽車股份有限公司 BAIC MOTOR CORPORATION LIMITED* （於中華人民共和國註冊成立的股份有限公司） （股份代號：1958） 盈利預警 本公告乃由北京汽車股份有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香港聯合交易所 有限公司證券上市規則第13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部項下之內幕消息 條文而作出。 本公司董事會（「董事會」）謹此通知本公司股東及潛在投資者，根據本集團截至2025年12月31日止年 度未經審計之合併管理賬目（「管理賬」），預期本公司將錄得截至2025年12月31日止年度歸屬於本公 司權益持有人的淨利潤約為人民幣1.1億元至1.3億元，較2024年同期減少約86.4%至88.5%。 本公司認為，由於2025年度汽車行業競爭激烈，產業格局加速變革，受此影響本集團全年汽車銷量 未達預期。同時，為加快推進本公司三年躍升 ...

Group 1 - The document indicates a public announcement period from February 10, 2026, to February 19, 2026 [2]

Core Points - Beijing has announced the 2026 automobile trade-in subsidy policy, which includes two types of subsidies: "scrapping and updating" and "trading and updating" [1] - The application system for the subsidies will open on February 9, 2026, at 10 AM, with eligible car buyers able to receive up to 20,000 yuan in subsidies [1] Group 1: Scrapping and Updating Subsidy - The "scrapping and updating" subsidy applies to consumers who scrap old vehicles and purchase new ones, with a subsidy of 12% of the new car's sales price for electric vehicles, capped at 20,000 yuan [1] - For fuel vehicles with an engine size of 2.0 liters or less, consumers can receive a subsidy of 10% of the new car's sales price, with a maximum of 15,000 yuan [1] Group 2: Trading and Updating Subsidy - The "trading and updating" subsidy is for consumers who sell their old cars and buy new ones, offering an 8% subsidy on the new car's sales price for those purchasing electric vehicles, with a maximum of 15,000 yuan [1] - Consumers can apply for the "trading and updating" subsidy through the Beijing Automobile Trade-in Subsidy System website or mobile applications [1] Group 3: Application Requirements - To qualify for the 2026 automobile trade-in policy, relevant documents for scrapping or transferring old cars and purchasing new ones must be obtained from January 1, 2026 [2] - The old car must be registered in the applicant's name by January 8, 2025, and each consumer can only receive one "scrapping and updating" subsidy or one "trading and updating" subsidy in 2026 [2]

Group 1 - The core viewpoint of the article is the launch of the "Old for New" vehicle subsidy program in Beijing, which aims to encourage consumers to replace old vehicles with new ones through financial incentives [1] Group 2 - The "Scrap and Update" subsidy allows consumers who scrap old vehicles and purchase new ones to receive up to 20,000 yuan, with 12% of the new vehicle's sales price as a subsidy for purchasing new energy vehicles and 10% for fuel vehicles with an engine size of 2.0 liters or less [1] - The "Trade-in Update" subsidy provides up to 15,000 yuan for consumers who sell old vehicles and buy new ones, with an 8% subsidy on the sales price for new energy vehicles [1]

Group 1 - The core viewpoint of the article is the official release of the 2026 automobile trade-in subsidy policy in Beijing, which aims to encourage consumers to replace old vehicles with new ones [1] - The subsidy program includes two types of support: "scrapping and updating" and "trading and updating" [1] - The application system for the subsidies will open on February 9 at 10 AM, allowing eligible car buyers to receive a maximum subsidy of 20,000 yuan [1]

Core Viewpoint - Beijing has officially released the 2026 automobile trade-in subsidy policy, which includes two types of subsidies: "scrapping and updating" and "trading and updating," with a maximum subsidy of 20,000 yuan for eligible consumers [1][2]. Group 1: Subsidy Details - The "scrapping and updating" subsidy offers 12% of the new car sales price for purchasing new energy vehicles, with a maximum of 20,000 yuan, and 10% for fuel vehicles with an engine size of 2.0 liters or less, capped at 15,000 yuan [1]. - The "trading and updating" subsidy provides 8% of the new car sales price for consumers who sell their old cars and purchase new energy vehicles, with a maximum of 15,000 yuan [1]. Group 2: Application Process - The application system for the subsidies will open on February 9 at 10 AM, and consumers can apply online through designated platforms [1][2]. - Consumers must ensure that the materials for scrapping or transferring old cars and purchasing new cars are obtained from January 1, 2026, and that the old cars were registered in the applicant's name by January 8, 2025 [2].