1月12日，宇通客车跌2.65%，截至发稿，报31.61元/股，成交7.84亿元，换手率1.12%，总市值699.83亿 元。宇通客车股价已经连续5天下跌，区间累计跌幅5.75%。 资料显示，宇通客车股份有限公司位于河南省郑州市管城回族区宇通路6号，成立日期1997年1月8日， 上市日期1997年5月8日，公司主营业务涉及客车的研发、生产和销售;客车零部件的研发、生产和销 售。主营业务收入构成为：客车制造分部94.41%，对外贸易分部32.14%，其他分部12.13%，客运分部 0.07%。 从基金十大重仓股角度 鹏华致远成长混合A（011471）基金经理为赵乃凡。 截至发稿，赵乃凡累计任职时间1年215天，现任基金资产总规模9313.39万元，任职期间最佳基金回报 26.1%， 任职期间最差基金回报24.52%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，鹏华基金旗下1只基金重仓宇通客车。鹏华致远成长混合A（011471）三季度减持3.11万股， 持有股 ...

Core Viewpoint - The rapid growth of the new energy heavy truck market in China is driven by policy support, cost advantages, and expanding application scenarios, with sales expected to continue increasing significantly by 2025 [5][6][7]. Market Dynamics - In the first 11 months of 2025, cumulative sales of new energy heavy trucks exceeded 180,000 units, representing a nearly twofold year-on-year increase, with a market penetration rate reaching 20% [5]. - The market focus has shifted from traditional fuel trucks to new energy vehicles, with significant sales growth reported by manufacturers [6]. Application Scenarios - New energy heavy trucks are increasingly being used in diverse applications beyond fixed routes, including logistics for various goods and long-distance transportation within 500 kilometers [6][7]. - The penetration rate of new energy heavy trucks in short-distance transportation scenarios has reached 74% [7]. Cost Advantages - The cost per kilometer for new energy heavy trucks is approximately 1 yuan, compared to 2.5-3 yuan for diesel trucks, leading to substantial savings in operational costs [7]. - Policies such as subsidies for replacing old vehicles with new energy trucks are enhancing the financial attractiveness of these vehicles [7]. Infrastructure Development - The establishment of charging stations and battery swap stations along logistics routes has improved refueling efficiency, with rapid charging capabilities being implemented [8]. - The government is actively promoting the development of infrastructure to support the scaling of new energy transportation [10]. Challenges and Future Outlook - Current limitations include the need for new energy heavy trucks to expand their use in medium to long-distance transportation and improve the network of charging facilities [9]. - The Ministry of Transport is committed to promoting the large-scale development of new energy transportation equipment, with a focus on supporting the transition to low-emission vehicles [10][11]. - Companies are increasing their R&D efforts and collaborating with academic and industry partners to advance technology in the new energy heavy truck sector [11].

Core Viewpoint - The "Light Truck First Influence Index" for December 2025 shows a total score of 1408, reflecting a 4.3% increase from November 2025 but a 2.3% decrease compared to December 2024 [1]. Group 1: Influence Index Rankings - The top three brands in the "Light Truck First Influence Index" for December 2025 are Jianghuai 1 Card (298 points), Dongfeng Light Truck (261 points), and FAW Jiefang Light Truck (206 points) [2][12]. - Jianghuai 1 Card maintains its position as the leader, while Jiangling Light Truck and YuTong Light Truck have improved their rankings to fifth and ninth, respectively [12][17]. Group 2: Key Events and Developments - December 2025 saw significant industry events, including annual meetings and product launches, contributing to the increase in the influence index [3][19]. - Jianghuai 1 Card's annual meeting highlighted its success in the new energy light truck sector, with sales of high-end models exceeding 20,000 units and a 20% increase in wide-body model sales [6]. - Dongfeng Light Truck's annual meeting focused on long-term development and improving operational quality [8]. - FAW Jiefang's global partner conference emphasized deepening global cooperation and enhancing brand narrative [9]. - China National Heavy Duty Truck launched two new models aimed at addressing operational cost and range anxiety issues [9][17]. - YuTong Light Truck delivered multiple new energy refrigerated trucks, showcasing its commitment to smart and efficient cold chain logistics [11][12]. Group 3: Market Trends and Insights - The overall market for light trucks is experiencing a transformation, with a focus on new energy vehicles and digital marketing strategies [6][19]. - The competitive landscape remains stable, with established brands maintaining their positions while new entrants and innovations are emerging [12][19].

Core Viewpoint - Yutong Bus (600066) emphasizes its commitment to high-quality development driven by technological and product innovation, focusing on key technologies in electric drive, control, and battery systems [1] Group 1: Technological Innovation - The company adopts a "lowest total lifecycle cost" development philosophy to enhance its product offerings [1] - Yutong is making breakthroughs in various technological fields, including efficient electric drive systems, high-safety and reliable control systems, multi-scenario fuel cell power systems, and intelligent connected technologies [1] - The company aims to independently master core technologies related to electrification, intelligent networking, safety, energy efficiency, and comfort [1] Group 2: Product Development - The advancements in technology support the research and development layout of the entire range of bus products [1]

证券日报网讯1月9日，宇通客车（600066）在互动平台回答投资者提问时表示，根据公司2024年年度报 告，公司国内业务毛利率为19.37%，海外业务毛利率为28.46%。未来，公司将继续做好主业，抓住国 内外市场拓展机会，持续巩固行业领先地位。 ...

Investment Rating - The report maintains an "Overweight" rating for the automotive industry, indicating an expectation that the industry index will outperform the market index by more than 10% over the next six months [2][38]. Core Insights - The automotive sector has shown a recent upward trend, with the Shenwan Automotive Index rising by 3.52% over the past two weeks, outperforming the CSI 300 Index by 1.47 percentage points [4][11]. - The report highlights the implementation of a new vehicle scrappage and replacement policy for 2026, which includes subsidies for purchasing new energy vehicles and fuel-efficient cars, aimed at boosting consumer confidence and sales [33][34]. - The report notes a significant decline in retail sales of passenger vehicles in December 2025, with a year-on-year decrease of 13%, indicating a cautious market sentiment as consumers await new subsidy policies [21][34]. Summary by Sections Automotive Industry Trends and Valuation Review - As of January 8, 2026, the Shenwan Automotive Index has increased by 1.49% since the beginning of the year, ranking 23rd among 31 industries [11][12]. - The automotive sub-sectors have also experienced growth, with the automotive parts sector rising by 4.66% and the motorcycle and other sectors increasing by 2.44% [13][14]. Industry Data Tracking - Raw material prices have seen increases, with steel prices up by 0.70%, aluminum by 6.95%, and lithium carbonate by 16.88% as of January 8, 2026 [18][19]. Industry News - The Ministry of Industry and Information Technology has initiated testing and safety evaluations for smart connected vehicles equipped with autonomous driving features [20]. - The Ministry of Commerce projects that 17.67 million vehicles will be scrapped from 2024 to 2025, with an annual growth rate of 45.8% [22]. Corporate News - Xiaomi's new electric vehicle, the SU7, is expected to launch in April 2026 [26]. - Desay SV plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence [28]. - Hesai Technology has been selected by NVIDIA as a lidar partner for its autonomous driving platform [30]. Investment Recommendations - The report suggests focusing on companies like BYD and Seres, which are expanding their overseas markets and benefiting from the increasing penetration of smart driving technologies [33][35].

Core Viewpoint - The commercial vehicle sector experienced a slight increase of 0.41% on January 9, with Jianghuai Automobile leading the gains. The Shanghai Composite Index rose by 0.92%, while the Shenzhen Component Index increased by 1.15% [1]. Group 1: Market Performance - Jianghuai Automobile closed at 50.53, up by 1.16% with a trading volume of 507,700 shares [1]. - Foton Motor and China National Heavy Duty Truck both saw increases of 0.69% and 0.54%, closing at 2.91 and 16.89 respectively [1]. - The overall trading volume for the commercial vehicle sector was significant, with Foton Motor achieving a transaction value of 294 million [1]. Group 2: Fund Flow Analysis - The commercial vehicle sector saw a net outflow of 80.51 million from institutional investors, while retail investors contributed a net inflow of 31.18 million [2]. - Among individual stocks, Zhongshun Vehicle had a net inflow of 12.14 million from institutional investors, while it faced a net outflow of 1.44 million from speculative funds [3]. - China National Heavy Duty Truck experienced a net inflow of 2.94 million from speculative funds, despite a net outflow of 3.27 million from retail investors [3].

证券代码：600066 证券简称：宇通客车 编号：临2026-002 宇通客车股份有限公司 关于年度担保计划范围内担保进展的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 根据上海证券交易所相关披露要求，公司对年度担保计划 范围内的担保进展情况进行月度汇总披露。 2025 年 12 月担保事项概况 | 对控股子公司 | 被担保人名称 | | 公司全资子公司（具体如下） | | | | --- | --- | --- | --- | --- | --- | | 及控股子公司 | 2025 年 12 | 月担保发生额 | | | 26,230.57 万元 | | 之间相互提供 | 是否在前期预计额度内 | | ☑是 | □否 | | | 的担保 | 本次担保是否有反担保 | | □是 | ☑否 | | 公司全资子公司： 累计担保情况 | 对外担保逾期的累计金额（万元） | / | 截至 | 2025 | 年 | 12 | 月 | 31 | 日，公司对控股 | | --- | --- | --- | --- | ...

城乡客运一体化改革营运车辆采购项目二期- 近日，慈利县城乡客运一体化改革营运车辆采购项目（二期）中标结果正式公布。经过公开 招标及中标候选人公示程序，宇通客车股份有限公司成功中标该项目全部两个标段，中标总 金额达2443.7万元。 城乡客运一体化改革营运车辆采购项目二期-5.9米、7米级纯电动客车中标结果公告 5.9米、7米级纯电动客车中标结果公告 (招标编号:HNZJJ-202512JT-008501) 一、中标人信息: 标段(包)[001]城乡客运一体化改革营运车辆采购项目二期- 5.9米、7米级纯电动客车: 中标人:宇通客车股份有限公司 中标价格:918.9万元 二、其他: 详见附件 三、监督部门 本招标项目的监督部门为慈利县交通运输局。 招 标 人:慈利县盛达运输服务有限公司 电子邮件:/ 招标代理机构:中科高盛咨询集团有限公司 招标人或其招标代理机构主要负责人(项目负责人) 招标人或其招标代理机构:_ 地 址:慈利县金慈街道零阳西路78号12层1204室 联 系 人:周先生 电 话:15074496868 地 址:湖南省长沙市天心区友谊路413号 联 系 人:周志 电 话: 15874454533 ...

12 月销量环比大幅增长，四季度盈利提升展望乐观：12 月公司客车销量8,864 辆，同比增长2.9%、环 比增长118.4%，国内与海外市场同步迎来年末交付高峰，其中新能源出口表现预计尤为强劲，高盈利 大中客产品占比维持在84.4%的高位水平。Q4 公司实现销量1.6 万辆，同比增长2.5%、环比30.5%，预 计Q4 出口占比环比小幅提升，且欧洲新能源订单密集交付优化销售结构，叠加规模效应释放，公司单 车盈利有望进一步提升。 国内公交报废更新政策延续，公司有望持续受益：12 月30 日，国家发改委发布《推动大规模设备更新 和消费品以旧换新行动方案》，明确继续支持新能源城市公交车辆及动力电池更新，补贴标准依据 《2025 年新能源城市公交车及动力电池更新补贴实施细则》，即新能源公交单车平均补贴8 万元，动力 电池补贴4.2 万元。报废更新政策的延续实施，有望持续撬动国内存量公交替换需求释放，公司作为行 业龙头将充分受益于此。 事件：1 月5 日，公司发布2025 年12 月产销快报，实现客车销量8,864辆，同比增长2.9%、环比增长 118.4%；实现客车产量7,066 辆，同比增长2.4%、环比增长36 ...