Core Viewpoint - The domestic tractor market experienced a mixed performance in May 2025, with a notable decline in sales during the peak season, indicating a "旺季不旺" (not strong peak season) situation [1][2]. Group 1: Market Performance - In May 2025, the actual sales of tractors reached 33,300 units, a month-on-month decrease of 7% but a year-on-year increase of 15%, with a total increase of over 4,200 units compared to May 2024 [4][5]. - The overall heavy truck market saw sales of 63,100 units in May, reflecting an 18% year-on-year growth, while the tractor market's growth rate lagged behind by 3 percentage points [5][7]. - Cumulatively, from January to May 2025, tractor sales increased by 13% year-on-year, with a total of 154,100 units sold [21][23]. Group 2: Market Share and Rankings - In May 2025, the top ten tractor manufacturers accounted for 96.43% of the market share, with the leading company, FAW Jiefang, holding a market share of 22.24% [18][19]. - The top five companies collectively held over 80% of the market share, indicating a significant competitive advantage [19]. - The rankings of the top manufacturers remained consistent from April to May, with FAW Jiefang and China National Heavy Duty Truck Corporation leading the market [11][19]. Group 3: Company Performance - FAW Jiefang sold 7,398 units in May, maintaining the top position, while China National Heavy Duty Truck Corporation sold 5,990 units, ranking second [11][18]. - Companies like XCMG, SANY, and Yuncheng saw substantial growth, with sales increasing by 276%, 302%, and 107% respectively [15][27]. - The performance of the top twelve companies showed that nine achieved sales growth in May, while two experienced declines [15][27]. Group 4: New Energy Vehicles - The share of new energy tractors reached nearly 30% in the first five months of 2025, with significant growth in pure electric tractors, which saw a year-on-year increase of 304% [30][32]. - The market for diesel tractors saw a slight increase of 0.4%, while natural gas tractors experienced a decline of 17% [30][32]. - The top five tractor manufacturers have all introduced new energy models, with some companies like XCMG and SANY having over 98% of their sales coming from new energy vehicles [32][34].

证券代码：600166 证券简称：福田汽车 编号：临2025一046 北汽福田汽车股份有限公司 关于调整相关高级管理人员的公告 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。 一、高级管理人员离任情况 （一）提前离任的基本情况 ■ （二）离任对公司的影响 巩海东同志不存在应当履行而未履行的承诺事项，并已按照公司相关规定做好交接工作，其离任副总经 理职务不会影响公司的正常经营；巩海东同志本次不再担任公司副总经理职务后，除了其所兼任的外派 董监事职务尚需逐步有序办理退出与变更手续以外，将不在公司担任其他职务。 二、高级管理人员聘任情况 （一）董事会会议召开情况 2025年6月11日，公司以电子邮件和专人送达的方式，向全体董事发出了关于召开通讯董事会的通知以 及《关于调整巩海东同志副总经理职务、聘任刘旭光同志及孙京同志为副总经理的议案》。本次会议以 通讯表决的方式召开，应出席董事11名，实际出席董事11名。会议的召集召开符合《公司法》和《公司 章程》的规定。 （二）董事会会议审议情况 公司董事会提名委员会召开了会议，对该议案发表了同意 ...

证券代码：600166 证券简称：福田汽车 编号：临 2025—046 北汽福田汽车股份有限公司 关于调整相关高级管理人员的公告 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。 一、高级管理人员离任情况 （一）提前离任的基本情况 | 姓名 | 离任职 | 离任时间 | | 原定任期 | | 离任原 | 是否继续在 上市公司及 | 具体职务 （如适 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 务 | | | 到期日 | | 因 | 其控股子公 | 用） | 毕的公开 | | | | | | | | | 司任职 | | 承诺 | | 巩海东 | 副总经 | 2025 6 | 年 | 2025 年 | 11 | 工作调整 | 否 | - | 否 | | | 理 | 月 23 | 日 | 月 14 | 日 | | | | | （二）离任对公司的影响 （一）巩海东同志不再担任北汽福田汽车股份有限公司副总经理职务。 （二）聘任 ...

证券代码：600166 证券简称：福田汽车 编号：临 2025—047 北汽福田汽车股份有限公司 关于调整职工代表董事的公告 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。 一、董事离任情况 （一）提前离任的基本情况 | 姓名 | 离任职 | | | 原定任期 | | 离任原 | 是否继续在 上市公司及 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 务 | 离任时间 | | 到期日 | | 因 | 其控股子公 | （如适 用） | 毕的公开 | | | | | | | | | 司任职 | | 承诺 | | 巩海东 | 职工代 | 2025 | 年 6 | 2025 年 11 | | 工作调整 | 否 | - | 否 | | | 表董事 | 月 | 23 日 | 月 14 | 日 | | | | | （二）离任对公司的影响 根据《公司法》《公司章程》等有关规定，巩海东同志离任未导致公司董事会成员低 于法定 ...

点击蓝字 关注我们 乘联分会&科瑞咨询联合发布 新能源商用车周报 (总第0108期 2025年6月第3周) ▌自录 CONTENTS 僵）行业数据 · 市场：市场：新能源轻卡保持大幅上升 供应链 政策法规 倍耐力：倍耐力推出新型传感器轮胎：可实时监测路况，辅助提 醒路政部门修路 众钠能源：东软睿驰携手宁德时代子公司时代智能，推动智能滑 板底盘域控平台高效落地 · 工业和信息化部发布关于制造业计量创新发展的意见 文件明确,将制造业计量与工业绿色低碳安全同步推进,全面 推广低能耗、低排放的计量器具和标准物质，广泛推行电子证 书，促进绿色低碳转型。引导仪器仪表企业建设绿色生产线, 开展能源和污染物全过程动态监测、精准控制和优化管理，提 升资源利用水平。研究碳计量技术,探索"可测量、可报告、 可核查"的碳计量体系，为国家碳排放统计核算体系的建立和 完善提供支撑。 娄底市人大常委会发布《娄底市电动汽车充电设施管理规定》 . 文件指出，本市行政区域内电动汽车充电设施（以下简称充电 设施）的规划建设、运营服务等相关管理活动适用本规定。供 电企业应当加强充电设施配套电网建设与改造，满足充电设施 电力需求，为充电设施接入电网提 ...

Investment Rating - The report maintains a "Buy" rating for the automotive sector [1] Core Views - The continuation of the "old-for-new" subsidy policy is expected to support automotive consumption, leading to a positive outlook for the automotive sector [7][17] - The completion of 2,500 5C supercharging stations by Li Auto indicates strong infrastructure development, surpassing Tesla's charging network in China [3][13] - The launch of the Li Auto i6, a pure electric SUV, is anticipated in September 2025, showcasing advancements in electric vehicle technology [4][14] Summary by Sections Recent Developments - Li Auto has completed its goal of building 2,500 5C supercharging stations, with the latest located at Shanghai Disneyland, featuring a design of three groups of dual-gun 5C charging piles [3][13] - The i6 model has been officially announced and is set to launch in September 2025, featuring a pure electric architecture and various powertrain options [4][14] - The "old-for-new" subsidy policy will continue, with central funding expected to be distributed in batches, totaling 3 trillion yuan for the year [5][15] Market Performance - The automotive sector underperformed compared to the Shanghai Composite Index, with a weekly decline of 2.6% from June 16 to June 20, 2025 [18] - The performance of individual stocks varied, with Li Auto experiencing a decline of 7.1% during the same period [18][23] Investment Recommendations - The report recommends several companies poised to benefit from the current market conditions, including Li Auto, BYD, and Great Wall Motors, among others [7][17] - It highlights the potential for high-end vehicle manufacturers to gain from the ongoing shift towards premium offerings in the automotive market [7][17]

Core Viewpoint - The new energy heavy truck market has seen significant growth, with a year-on-year increase of 190% in May 2025, and sales have consistently exceeded 15,000 units for three consecutive months, indicating a strong upward trend in the sector [1][5]. Market Performance - In May 2025, the domestic new energy heavy truck market sold a total of 15,100 units, a month-on-month decrease of 5% but a year-on-year increase of 190% [5]. - Pure electric heavy trucks accounted for 98.99% of total sales, with sales of 15,000 units, showing a slight increase from the previous month [5]. - The sales of battery swap heavy trucks reached 4,806 units in May, reflecting a year-on-year growth of 145%, although the growth rate has slowed compared to previous months [5][19]. Segment Analysis - The battery swap heavy truck segment has seen a market share of 32.15% in May, which is a slight increase from the previous month but a decrease of over 9 percentage points compared to the same period last year [7]. - From January to May 2025, the battery swap heavy truck segment sold a total of 19,400 units, representing a year-on-year increase of 139% [19][21]. - The main types of battery swap heavy trucks sold were tractor trucks and dump trucks, accounting for 85.14% and 12.92% of sales, respectively [12][25]. Company Performance - Foton led the sales in May with 1,089 units, followed closely by XCMG with 1,054 units, indicating strong competition among leading manufacturers [15][17]. - Seven out of the top ten companies in the battery swap heavy truck market achieved over 100% year-on-year growth, with notable increases from Foton, Dongfeng, and XCMG [17][23]. - The market share of leading companies such as XCMG, Foton, and China National Heavy Duty Truck Group has increased, with Foton's market share rising by 7.58 percentage points compared to the previous year [23]. Future Outlook - The battery swap heavy truck market is expected to continue its growth trajectory, although it has not yet outpaced the overall new energy heavy truck market growth [33]. - The competitive landscape remains intense, particularly in the battery swap tractor truck segment, where major players are vying for market leadership [27].

近日，北汽福田汽车股份有限公司发布关于控股子公司卡文新能源增资扩股的进展公告，公告 宣布其控股子公司北京卡文新能源汽车有限公司（下称 "卡文新能源"）于6月19日完成 Pre- A 轮融资，与8家增资方签署《增资协议》，增资总额达120877.3万元，新增注册资本 80584.8668万元。 为满足业务发展与资金需求，卡文新能源通过非公开协议增资和北京产权交易所公开挂牌增资 的方式开展Pre-A轮融资。此次参与增资的包括3家非公开协议增资方，即福田汽车、博世 （上海）创业投资有限公司、海南星辉海纳投资合伙企业（有限合伙）；以及5家公开挂牌增 资方，分别为上海博原嘉成创业投资合伙企业（有限合伙）、博原怡成（淄博）股权投资合伙 企业（有限合伙）、武汉博原丰成创业投资合伙企业（有限合伙）、北京市绿色能源和低碳产 业投资基金（有限合伙）、安鹏绿色（北京）能源产业投资基金（有限合伙）。增资价格确定 为1.50元 / 注册资本，新增注册资本80584.8668万元，增资完成后，福田汽车仍保持对卡 文新能源的控股地位。 公告详细披露了各增资方出资情况。福田汽车以货币出资75800万元，认缴新增注册资本 50,533.333 ...

Core Viewpoint - The natural gas heavy truck market in China has experienced a significant decline in sales, with a year-on-year decrease of 34% in May 2025, marking the third consecutive month of decline, indicating a challenging market environment for the industry [2][6][10]. Sales Performance - In March and April 2025, the natural gas heavy truck market saw year-on-year declines of 26% and 35%, respectively, leading to a total sales volume of 14,000 units in May, which is a 34% decrease compared to the same month last year [2][6][10]. - The overall heavy truck market sold 63,100 units in May, showing an 18% year-on-year increase, while the natural gas heavy truck segment lagged behind, capturing only 22.10% of the market share in May, down from 24.86% in April [10][24]. Market Trends - The first five months of 2025 saw a cumulative sales volume of 78,000 units for natural gas heavy trucks, reflecting a 16% year-on-year decline, with a notable decrease of 14,600 units compared to the same period last year [29][33]. - The market share of natural gas heavy trucks has decreased from 36.47% in the same period last year to 27.33% in 2025 [10][33]. Regional Analysis - Sales distribution across regions remains uneven, with Hebei, Shanxi, Henan, Shandong, and Xinjiang accounting for a significant portion of the sales, with Hebei alone contributing nearly 15% [16][18]. - Some regions, such as Xinjiang, Sichuan, Inner Mongolia, Gansu, Chongqing, Jilin, and Beijing, have shown growth in sales during the first five months of 2025, while major provinces like Hebei and Shanxi have experienced declines [18]. Company Performance - In May 2025, the top-selling companies in the natural gas heavy truck market included FAW Jiefang, Dongfeng, and China National Heavy Duty Truck, with sales of 3,382, 2,966, and 2,963 units, respectively [20][22]. - Among the top ten companies, five experienced sales growth, while eight saw declines, with the most significant drop being 86% for one company [24][27]. Price Influence - Natural gas prices have remained relatively stable, averaging around 4,400 yuan/ton in January and February, rising to nearly 4,600 yuan/ton in March and April, before decreasing to approximately 4,500 yuan/ton in May [13][14]. - The narrowing price gap between natural gas and diesel, with diesel prices dropping below 6.5 yuan/L in many northern regions, has diminished the competitive advantage of natural gas heavy trucks [14].

证券代码：600166 证券简称：福田汽车 编号：临 2025—045 北汽福田汽车股份有限公司 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： （以下简称"博原嘉成"）、博原怡成（淄博）股权投资合伙企业（有 限合伙） （以下简称"博原怡成"）、武汉博原丰成创业投资合伙企业（有限合伙） （以 下简称"博原丰成"）、北京市绿色能源和低碳产业投资基金（有限合伙）（简称"绿 色能源基金"）、安鹏绿色（北京）能源产业投资基金（有限合伙）（以下简称"安鹏 基金"）共同签署了《增资协议》，增资价格为 1.50 元/注册资本（保留两位小数）， 增资总额 120,877.3 万元，新增注册资本 80,584.8668 万元。本次增资完成后，公司 仍为卡文新能源的控股股东。 一、本次增资扩股的进展情况 《证 券日报》披露的相关公告（公告编号：临 2024-095、临 2025-005 号）。 卡文新能源 Pre-A 轮融资包括非公开协议增资和北京产权交易所公开挂牌增资两部 分，2025 年 6 月 19 日，卡文新能源与 3 家非 ...