Sinotruk (Hong Kong) Limited 中 國 重 汽（ 香 港 ）有 限 公 司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code 股份代號: 03808) NOTIFICATION LETTER 30 September 2025 Dear non-registered holder(s), Notification of Publication of Corporation Communication of the following document(s): 2025 Interim Report Please be informed that both the English and Chinese versions of the above corporate communication are now available on the Company's website at www.sinotruk.com (the "Website Version") and the ...

Sinotruk (Hong Kong) Limited 中 國 重 汽（ 香 港 ）有 限 公 司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code 股份代號: 03808) NOTIFICATION LETTER 30 September 2025 Dear registered shareholder(s), Notification of Publication of Corporation Communication of the following document(s): 2025 Interim Report Please be informed that both the English and Chinese versions of the above corporate communication are now available on the Company's website at www.sinotruk.com (the "Website Version") and the ...

Contents 目錄 | 2 | Financial Figures | 財務數據 | | --- | --- | --- | | 3 | Definitions | 釋義 | | 8 | Corporate Information | 企業資料 | | 12 | The Group | 集團概況 | | 14 | Shareholder Information | 股東資料 | | 17 | Management Discussion and Analysis | 管理層討論與分析 | | 58 | Other Information | 其他資料 | | 84 | Report on Review of Interim Financial Report | 中期財務報告的審閱報告 | | 86 | Consolidated Statement of Profit or Loss | 綜合損益表 | | 87 | Consolidated Statement of Comprehensive Income | 綜合全面收益表 | | 88 | Consolidated Statement of Finan ...

2025年8月份，我国新能源重卡市场继续保持高位，整体销量接近1.8万辆。 今年以来，新能源重卡市场最重要的"存在"自然是占比最大的纯电动重卡。不过，即便是"存在感"比纯电动重卡弱了许多，2025年燃 料电池重卡和混合动力重卡也有各自的看点和亮点。 请看第一商用车网的分析报道。 氢能重卡遭遇"5连降"，混动重卡同比增长145% 根据第一商用车网掌握的最新数据，2025年8月份，国内新能源重卡共计销售1.78万辆（注：本文数据来源为交强险实销口径，不含出 口和军车，下同），同比增长182%，其中纯电动、燃料电池和混动动力（包括柴油混合动力、甲醇混合动力和天然气混合动力，下 同）车型分别销售1.75万辆、162辆和76辆，环比分别增长7%、-31%和-12%，同比分别增长208%、-72%和145%，燃料电池重 卡连续五个月遭遇同比下降，混合动力重卡同比虽实现增长，但同比增速低于新能源重卡市场整体增速，继续跑输新能源重卡市场"大 盘"。 根据第一商用车网的观察，混合动力重卡和氢燃料电池重卡今年的"存在感"都不强。上图可见，今年1-8月，除了3月份、6月份和7月 份燃料电池重卡能被一眼看见（3月份、6月份和7月份燃 ...

Group 1: AI Sector Analysis - Recent weakness in AI stocks is attributed to concerns over the industry's "internal cycle," with Nvidia's $100 billion investment in OpenAI raising questions about the nature of the transaction [3] - Despite short-term pullbacks, the long-term fundamentals of AI remain strong, as evidenced by Micron Technology's 46% revenue growth driven by AI demand and optimistic guidance for the next quarter [3] - Wells Fargo strategists emphasize that AI investments are still in the early stages, suggesting that current market corrections may present opportunities for long-term investors to acquire quality AI stocks [3] Group 2: Chinese Concept Stocks Highlight - While the overall US market is down, the Chinese autonomous driving sector is experiencing growth, with Pony.ai receiving a target price increase from Goldman Sachs due to its Robotaxi services being commercialized in major cities [4] - WeRide has been included in the Nasdaq Golden Dragon Index, which is expected to attract more investment interest, reflecting China's rapid advancements in Level 4 autonomous driving technology [4] - NIO has seen strong orders for its L90 and ES8 models, leading Citigroup to raise its target price, while Futu Holdings has been reaffirmed with an "overweight" rating by JPMorgan, indicating a shift in investment focus towards companies with tangible technology and performance support [4] Group 3: Market Risks and Opportunities - The market faces two immediate challenges: upcoming PCE inflation and unemployment claims data, which could influence the Federal Reserve's interest rate decisions if inflation rebounds [5] - There is a risk of government shutdown due to budget negotiations, which could delay the release of non-farm payroll reports and increase market volatility [6] - For long-term investors, current market fluctuations may help identify strong companies, with a focus on AI hardware leaders like Micron and Nvidia, as well as Chinese autonomous driving firms like Pony.ai and WeRide, which are benefiting from the global trend towards smart technology [7] Group 4: Conclusion on Market Sentiment - The recent decline in the US stock market is viewed as a sign of a return to rationality from previous market exuberance, rather than a disaster [8] - The core of long-term investment lies in capturing the certainty of industrial upgrades, as the AI revolution and commercialization of autonomous driving are unlikely to be derailed by short-term market fluctuations [8]

Core Viewpoint - The "Light Truck First Influence Index" in August 2025 shows a significant decline in scores compared to both the previous month and the same month last year, indicating a downward trend in market influence among major light truck brands in China [1]. Group 1: Influence Index Scores - The total score for the "Light Truck First Influence Index" in August 2025 was 1309, a decrease of 21.8% from July 2025's score of 1674 and a 27.8% decline from August 2024's score of 1812 [1]. - The average weekly score for August indicates a consistent decline compared to both the previous month and the same month last year [1]. Group 2: Brand Rankings - The top three brands in the August 2025 "Light Truck First Influence Index" were: 1. Jianghuai 1 Card with a score of 256 2. Dongfeng Light Truck with a score of 254 3. FAW Jiefang Light Truck with a score of 212 [3][12]. - Other notable brands included China National Heavy Duty Truck HOWO at fourth with 156 points, and Foton Aoling at fifth with 123 points [3][12]. Group 3: Market Activities - Despite being a traditionally slow season, light truck sales continued to grow in August 2025, with various brands actively engaging in marketing activities [4]. - Jianghuai delivered a record 2470 units of 4.2-meter new energy box trucks to KuaYue Express, marking a significant collaboration in green logistics [5]. - Dongfeng Light Truck launched a series of promotional events, including a large-scale tour and product showcases, enhancing brand visibility [9][14]. Group 4: Brand Innovations and Collaborations - Jianghuai 1 Card held multiple solution release events across ten cities, focusing on innovative transport solutions for various market segments [13]. - China National Heavy Duty Truck HOWO promoted its new energy models and organized a fuel efficiency competition to engage customers [16]. - Qingling Light Truck signed a strategic cooperation agreement for its new electric refrigerated trucks, enhancing its position in the cold chain logistics market [18].

每经AI快讯，9月24日，港股中国重汽(03808.HK)午后涨超5%，截至发稿，涨5.13%，报22.12港元，成 交额1.37亿港元。 ...

智通财经APP获悉，中国重汽(03808)午后涨超5%，截至发稿，涨5.13%，报22.12港元，成交额1.37亿港 元。 消息面上，据第一商用车网数据，8月重卡批发销量达到约8.7万辆，同比大增约40%，环比7月上涨 2%，仅次于2020年8月的13万辆，是近八年来同期的第二高位。开源证券认为，终端重卡销量在行业传 统淡季的 8 月份的同比增速约 50%，体现了重卡销量受政策催化的敏感性，充分体现"以旧换新"政策对 重卡销量的显著拉动作用.随着金九银十的到来，以及年底政策申请时间逐步紧迫，销量将有望迎来下 一波小高潮。 中信建投指出，目前重卡补贴政策在全国范围内基本落地完毕，Q3终端需求有望继续扩张，释放批发 端销量弹性，叠加上年基数偏低，同比增速有望进一步上行。全年来看补贴有望撬动10-15万台增量， 行业年销或可达100-105万台，实现双位数增长；重汽A在海外市场借助重汽国际公司的完善网络布局 以及高效战略突破，出口有望维持较高水平。整体看，中国重汽作为行业龙头，Q3内销、出口有望共 振向上，实现业绩、估值双提升。 ...

近日，中国重汽携手越南经销商，成功举办贯穿越南六大城市的巡展活动，最终斩获超800台订单，彰显出中国重汽在越南市场的领先 地位与品牌影响力。 本次巡展不仅集中展示了重卡、工程车辆等主销产品，还通过试乘试驾、技术交流等互动活动，让客户零距离体验中国重汽产品在可靠 性与适用性等方面的卓越表现。 中国重汽在越南市场深耕多年，始终坚持以本地化战略为核心，持续优化产品矩阵与服务体系。目前，销售与售后服务网络已实现越南 全境覆盖，建有35个联保服务站点，并持续向下沉市场拓展渠道布局。配件供应体系日益完善，以高效、全面的支持保障用户运营需 求，进一步提升品牌竞争力和客户满意度。 此次活动进一步巩固了中国重汽在越南市场的优势地位，也为后续合作注入新动力。未来，中国重汽将继续深化与越南伙伴的合作，拓 展更多领域、提升合作层次，以高质量产品与服务助力越南交通运输与绿色低碳发展。 ● 15.98万元起，全球首款千扭插混皮卡来袭，江淮或搅动市场格局！ ● 年产值超20亿新能源商用车基地落地！两大巨头合资 ● 8月新能源牵引车超1.3万辆大增196%！徐工蝉联月冠 累销王座花落谁家？| 头条 ● 北汽福田乌干达组装厂投产！或重塑东非商 ...

其他车企方面，长城、重汽、赛力斯三家企业，分别以20219547万元、 19190758万元、 14517582万元的营业收入，排名榜单的135、143、190位；江铃汽车排名225位， 蔚来控股排名 封面新闻记者 张海军 就汽车行业的情况来看，今年共有14家整车企业和一家经销商集团入选，整车企业分别为比亚迪、上汽、吉利、一汽、北汽、奇瑞、广汽、东风、长城、重汽、赛力斯、江铃、蔚来、陕汽，经销 就企业排名来看，比亚迪以77710246万元的营业收入，位居整个榜单的第26位，排名汽车行业第一；上汽集团、吉利控股分别以62758995万元、57482553万元的营业收入，排名汽车行业2、 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 日前，中国企业联合会、中国企业家协会正式对外发布了2025中国企业500强榜单。据悉，该榜单以2024年企业营业收入为入围标准，入围门槛达479.60亿元，较上年提升5.79亿元。 ...