Corporate Announcements - Jiangnan Water received a stake increase from Lian'an Life, reaching 5.03% of total shares [3] - Yingboer plans to transfer 100% equity of Zhuhai Dingyuan for 239 million yuan to optimize asset structure [4] - Chengbang Co. experienced a five-day stock price surge, diverging from its fundamentals, with a warning about market risks [5] - Weimais intends to invest 190 million yuan in its subsidiary for a new electric drive assembly project, expected to take 12 months [6] - Fosun Pharma's subsidiary received EU GMP certification for its production facilities, marking a significant compliance achievement [7] Performance Highlights - Foton Motor reported a 150.96% year-on-year increase in new energy vehicle sales for the first half of the year, totaling 50,142 units [9] - Meinuohua expects a net profit increase of 142.84% to 174.52% for the first half of 2025, driven by revenue growth and improved gross margins [10] - Madi Technology anticipates a net profit of 25 to 27 million yuan for the first half of 2025, marking a turnaround from a loss of 76.33 million yuan in the previous year [11] Major Contracts - Dash Intelligent signed a contract for an intelligent project worth 11.88 million yuan, representing 0.37% of its 2024 revenue [13] - Jinyi Industrial won a bid for a 335 million yuan materials procurement project for the Nanjing-Huaian intercity railway [14] Share Buybacks - Kweichow Moutai repurchased 72,000 shares in June, totaling 1.02 billion yuan, with a cumulative buyback of 3.38 million shares amounting to 5.202 billion yuan [16] - Feiwo Technology plans to repurchase shares worth 25 to 50 million yuan for equity incentives, with a maximum price of 43.44 yuan per share [17] Shareholding Changes - Renfu Pharmaceutical's shareholder,招商生科, plans to increase its stake by 1% to 2% within six months, with a price cap of 25.53 yuan per share [19] Financing Activities - CITIC Securities received approval to issue up to 20 billion yuan in perpetual subordinated bonds [21]

注：1.本表为销售快报数据，具体数据以定期报告数据为准。2.福田戴姆勒与福田康明斯是 50：50 的合资公司。福戴重型货车 6 月销量 7919 辆，1-6 月累计销量 47976 辆，累计同比 56.32%；福康发动机 6 月销量 14238 台，1-6 月累计销量 90996 台，累计同比 8.71%。3.新能源汽车包括纯电动汽车、氢燃料电池汽车、插电 式混合动力汽车。4.商用车数据含非完整车辆，轻型货车数据含微型货车。 北汽福田汽车股份有限公司 董 事 会 二〇二五年七月二日 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。 北汽福田汽车股份有限公司 2025 年 6 月份各产品产销数据快报如下： | | | | | | 销 量（辆） | | | | | 产 量（辆） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 产品类型 | 本月数 | 去年同 | 本年累计 | 去年累计 | 累计同比 ...

福田汽车（600166）公告，2025年6月新能源汽车销量为8290辆，去年同期为4344辆。1-6月累计销量达 5.01万辆，去年同期约2万辆。 ...

Group 1 - The Moroccan automotive market is transitioning towards electric vehicles (EVs) due to the arrival of Tesla, influx of Chinese brands, and the rise of hybrid vehicles, but faces challenges related to infrastructure and logistics maturity [1] - Currently, Morocco has approximately 1,500 charging stations, with only 10% being DC fast chargers, while most are AC chargers that take 4 to 8 hours to charge [1] - The Moroccan government offers VAT exemptions for EV sales but has not introduced purchase subsidies or other direct financial incentives, making EVs less affordable for average households [1] Group 2 - Chinese automotive brands, previously viewed as technologically inferior, are reshaping their image in Morocco with companies like BYD, Geely, and Changan offering competitive hybrid and electric products [2] - The demand for new vehicles in Morocco is growing, with new vehicle registrations expected to increase by 36% by May 2025 compared to the previous year, driven by a booming tourism sector [2] - Despite the growth in new vehicle registrations, traditional fuel vehicles still dominate the market, accounting for approximately 75% of the total [2]

Battery - Foton Motor has begun mass application of semi-solid batteries in its self-developed 24V starting lithium batteries, which are installed in its electric light trucks [2] - Beijing Chunzhi New Energy Technology Co., Ltd. launched a pilot project for electric bicycle battery swapping using all-solid-state batteries, marking the transition of its products from laboratory to commercial application [6] Materials - Zhongke Chuncui Technology successfully completed a Pre-A round of financing, which will be used to optimize new extraction agents for strategic metals and establish production projects for battery-grade lithium chloride and lithium dihydrogen phosphate [8] - Enjie Co., Ltd. announced that its subsidiary has begun mass shipments of high-purity lithium sulfide products, while another subsidiary is advancing the construction of a pilot project for solid-state electrolyte with a capacity of thousands of tons [10] - Hainan Mining signed a lithium spodumene off-take agreement with its subsidiary, ensuring that all spodumene produced from the Bukuni lithium mine project will be sold to Hainan Mining starting January 1, 2026 [11] - Yunnan Zhongke Xingcheng Graphite Co., Ltd. is set to construct a project with an annual production capacity of 100,000 tons of lithium battery anode materials, with a total investment of 2.5 billion yuan [13]

Investment Rating - The automotive industry is rated as "Overweight" with expectations of outperforming the market in the next six months [52]. Core Views - The automotive sector saw a weekly increase of 2.88%, outperforming the CSI 300 index by 0.93 percentage points during the period from June 22 to June 27, 2025 [10][41]. - Retail sales of passenger vehicles in June increased by 24% year-on-year, with a total of 1,008.6 million units sold year-to-date, reflecting an 11% increase compared to the previous year [6][42]. - The new Xiaomi YU7 SUV model launched successfully, achieving over 240,000 pre-orders within 18 hours of its release [3][42]. Summary by Sections Market Review - The automotive sector's performance for the week (June 22-27, 2025) showed a 2.88% increase, with the passenger vehicle segment rising by 0.08% and commercial vehicles by 1.01% [10][41]. - The automotive parts sector increased by 4.62%, while the automotive services sector rose by 4.27%, both outperforming the CSI 300 index [10][41]. Valuation Levels - As of June 27, 2025, the automotive industry's PE-TTM was 25.9, up by 0.72 from the previous week. The valuations for passenger vehicles, commercial vehicles, and parts were 25.37, 35.87, and 24.46 respectively [11][41]. New Vehicle Launches - A total of 28 new models were launched during the week, including the Xiaomi YU7, which is priced between 25.35 and 32.99 million yuan [38][40]. Investment Recommendations - The report suggests that the automotive sector is expected to continue its upward trend, with specific focus on the performance of electric vehicles and related technologies [41].

Domestic News - The Ministry of Industry and Information Technology is accelerating the improvement of the standard system in the fields of new energy vehicles and other green low-carbon industries, focusing on the development of standards for various technologies such as industrial microgrids and high-safety energy storage batteries [3] - Shanghai is promoting a pilot program for the import of used key components for automotive research and testing, aiming to enhance the independent R&D capabilities of local automotive companies and improve their international competitiveness [4] - Hongmeng Zhixing has established 32 new user centers in April and May, with a target of over 350 centers by 2025, enhancing its offline service network [5] - Geely has obtained the "3A" capability certification for software quality systems, becoming the first company globally to achieve this, which signifies a significant milestone in the maturity of China's intelligent and electric vehicle standards [6] - BYD has launched its flagship luxury MPV, the M9, in Mexico, marking a significant step in its expansion into the high-end new energy market [7] - Tesla has opened over 2,100 supercharging stations in China, with a total of over 11,600 supercharging piles, enhancing its charging network across various locations [8] - Pony.ai has signed a strategic cooperation framework agreement with Lingnan Holdings to explore applications of autonomous driving in tourism [9] - CATL has commenced construction of a battery joint venture in Indonesia, with an expected total battery capacity of 15 GWh, capable of powering 250,000 to 300,000 vehicles [10] International News - Morocco plans to increase electric vehicle production by 53% by the end of 2025, reaching 107,000 units, as part of its strategy to diversify export markets [11] - Volkswagen Group is investing $1 billion in Rivian as part of a larger commitment of up to $5.8 billion, aiming to acquire advanced electric architecture technology [12][13] - VinFast has officially launched its second factory in Vietnam with an initial annual capacity of 200,000 vehicles, despite facing challenges in attracting foreign buyers [14] - The UK automotive industry reported a significant decline in production, with May's output dropping 32.8% year-on-year, marking the lowest level in over 70 years [15] Commercial Vehicles - CATL's advanced battery technology has empowered the launch of the Qingling Lingkun pure electric light truck in Shenzhen, catering to the growing demand for electric commercial vehicles [16] - The Shandong Province has established a key laboratory for safety and energy efficiency in new energy commercial vehicles, focusing on technological research and industry upgrades [18] - Wuling's Yangguang model has officially adopted CATL batteries, enhancing product reliability [19] - Beiqi Foton has launched the new Truck Mate in South Africa, targeting the growing demand for high-quality commercial vehicles in the region [20][21]

Core Viewpoint - The article highlights Beiqi Foton's commitment to the South African market through the launch of the new Truck Mate and showcases its successful product lineup, emphasizing the company's long-term investment strategy and localization efforts in Africa [1][4][18]. Group 1: Product Launch and Features - Beiqi Foton officially launched the new Truck Mate in Johannesburg, South Africa, focusing on core strategic models and showcasing successful products like MILER, VIEW, TUNLAND G7, and eVIEW [1][4]. - The Truck Mate features a powerful Dong'an 1.5-liter engine, designed for efficient and flexible transportation, with a cargo capacity of up to 7 cubic meters, catering to various urban delivery and trade scenarios [9][12]. - The Truck Mate inherits high-quality attributes from Foton's star products, excelling in driving smoothness, riding comfort, and overall reliability, making it a competitive choice in the market [12]. Group 2: Market Strategy and Commitment - Beiqi Foton has maintained a long-term investment approach in South Africa, steadily advancing its full product line and enhancing brand influence and customer trust [4][6]. - The company emphasizes its commitment to the African market, with a focus on local production through the KD production model, aiming to expand product lines, optimize sales and service networks, and increase R&D efforts [6][15]. - The launch of Truck Mate signifies Beiqi Foton's deepening localization strategy and its role as a key player in the development of the commercial vehicle market in South Africa and Africa [18]. Group 3: Product Matrix and Market Presence - The event showcased a strong product matrix, including the highly praised MILER series trucks, TUNLAND G7 pickups, and the eVIEW electric van, highlighting Foton's comprehensive strength and market presence in South Africa [13][18]. - The company views South Africa as a core pillar of its global strategy, having created over a thousand jobs and fostering local industry development through its "Lighthouse Plan" since 2024 [15].

6月26日，广州市交通站场建设管理中心有限公司76辆营运客车采购项目结果公告发布。公告 显示，标包5、标包6至递交投标文件截止时间止，递交投标文件的投标人不够3家，以上标包 招标失败。 标包1、标包2、标包3、标包4经过评审、推荐及确认，结果出炉： 厦门金旅中标1标包，标 的为15辆46座纯电动营运客车和5辆48座纯电动营运壳而出，中标总价为1514万元；厦门金 龙中标2标包和4标包，标的为20辆50座纯电动营运客车和16辆50座柴油营运客车，中标总价 分别为1590万元和928万元；福田汽车中标3标包，标的为15辆46座纯电动营运客车，中标 总价为1050.9万元。前四标段中标总金额为5082.9万元。 具体情况如下： 一、中标人 联系电话：020-81977069 联系地址：广州市越秀区农林下路80号冠怡大厦19楼采购单位：广州市交通站场建设管理中 心有限公司 项目联系人：邓先生 联系电话：020-81507823 联系地址：广州市黄埔区黄埔大道东884号27层 | 标包 | 货物名称 | 数量( | 中标人名称 | 中标总价 | 中标人地址 | | --- | --- | --- | --- | --- ...

Core Viewpoint - The delivery of 312 buses by Beiqi Foton to Madagascar marks a significant milestone in the cooperation between China and Africa under the Belt and Road Initiative, particularly in the green transportation sector, indicating a new phase of high-quality development in this partnership [3]. Group 1 - Beiqi Foton presented keys for 312 buses to Madagascar's President Rajoelina, highlighting the company's commitment to improving the country's transportation infrastructure and public service levels [1]. - President Rajoelina expressed gratitude for Beiqi Foton's contribution and emphasized the importance of enhancing public transportation services in Madagascar, aiming for a higher quality of life for the citizens [6]. - Beiqi Foton's Vice President Liu Guanghua stated the company's dedication to providing comprehensive service support and training local technicians to ensure the efficient operation of the buses [8]. Group 2 - Following the delivery ceremony, President Rajoelina showcased the buses to the public, expressing his admiration for their design and announcing free rides for citizens on the upcoming National Day [10]. - The buses were officially launched during Madagascar's National Day celebrations, symbolizing the operational commencement of the 312 buses and the contribution of "Chinese intelligence" to Africa's green transportation [13]. - Beiqi Foton plans to deepen its investment in Africa, focusing on innovative technology and sustainable products to provide modern transportation solutions [13].