Core Viewpoint - The release of the "Guidelines for Compliance with Pricing Behavior in the Automotive Industry (Draft for Comments)" aims to regulate pricing practices in the automotive sector, addressing issues such as price wars and ensuring fair competition [1][2]. Group 1: Regulatory Framework - The draft consists of five chapters and twenty-eight articles, establishing a comprehensive pricing behavior regulation system covering the entire automotive supply chain [3]. - Automotive manufacturers are required to develop pricing strategies based on production costs and market demand, ensuring compliance across all sales and financial service channels [3]. - The guidelines explicitly prohibit unfair pricing practices such as selling below cost and price collusion, aiming to shift competition from price-based to technology, service, and value-based [3]. Group 2: Impact on Automotive Sales - Automotive sales enterprises must operate with integrity, ensuring transparent pricing and avoiding misleading pricing tactics [4]. - The guidelines emphasize the importance of "clear pricing" and prohibit practices that lead to prices below procurement costs [4]. - The release of the draft is seen as a significant step by regulatory authorities to address industry pain points and enhance market order [4][5]. Group 3: Industry Challenges - The automotive market has been experiencing intense price competition, with over 200 models reportedly undergoing price reductions in 2024 [6]. - The profit margin in China's automotive manufacturing has declined from 7.8% in 2017 to 4.4% in 2024, indicating a troubling trend for the industry [7]. - More than 52.6% of automotive dealers reported losses in the first half of 2025, with 74.4% experiencing price inversions, highlighting the unsustainable nature of current market conditions [7]. Group 4: Industry Response - Major automotive companies like BYD, Xpeng Motors, and BAIC Group have committed to enhancing their pricing management and compliance systems in response to the draft [8]. - These companies emphasize the importance of adhering to transparent pricing principles and ensuring consumer rights are protected [8]. - Industry leaders stress the need for collaboration among regulatory bodies, industry associations, companies, and consumers to effectively implement the new guidelines [9].

12月12日，国家市场监督管理总局发布《汽车行业价格行为合规指南（征求意见稿）》（以下简称《征求意见稿》），对于 汽车生产、销售企业给予了明确、具体、全面的指导和提示，避免企业在经营活动中某些具体行为触及法律红线。 国家市场监督管理总局在《征求意见稿》起草说明中也指出，实践中，汽车生产销售领域存在价格标示不规范、价格欺诈、 价格串通、非理性竞争等行为，严重扰乱了市场秩序，侵害了消费者和经营者的合法权益，不利于汽车行业高质量发展。 《征求意见稿》发布后，比亚迪、小鹏汽车、北汽集团等车企纷纷发声。"我们承诺，将严格落实规范价格竞争行为的要求， 保障消费者的利益，坚决杜绝任何形式的价格欺诈和不正当竞争行为。"比亚迪方面称。 聚焦价格行为关键环节，企业经营须坚守底线 《征求意见稿》共五章二十八条，从汽车生产企业价格行为、汽车销售企业价格行为、制度建设等方面，系统构建了覆盖汽 车全产业链的价格行为规范体系。 图片来源：国家市场监督管理总局官网 中国汽车流通协会副会长王都在接受《每日经济新闻》记者采访时表示，《征求意见稿》的发布，将对汽车行业因"内卷 式"竞争引发的无序价格战起到遏制作用。"'内卷式'竞争让产业的健康度下 ...

Core Viewpoint - The article discusses the release of the "Guidelines for Compliance of Pricing Behavior in the Automotive Industry" by the State Administration for Market Regulation, aimed at establishing clear pricing compliance standards for automotive manufacturers and sales enterprises [3][4]. Group 1: Guidelines Overview - The guidelines consist of five chapters and 28 articles, detailing pricing behavior norms for automotive manufacturers, covering aspects from vehicle production to parts, pricing strategies, and sales practices [4]. - The guidelines emphasize the need for automotive sales enterprises to adhere to pricing behavior requirements, particularly in new car sales, addressing issues like lack of clear pricing and false promotions [4]. - The guidelines encourage the establishment of internal compliance management systems within automotive production and sales enterprises to prevent pricing violations from the source [4]. Group 2: Industry Response - Several automotive companies, including BYD, have expressed support for the guidelines, stating that they provide clear guidance for maintaining fair competition and protecting consumer rights [6][8]. - BYD commits to optimizing its pricing management and compliance systems in line with the guidelines, ensuring consumer interests are safeguarded and preventing any form of price fraud [8][9]. - Xpeng Motors also plans to use the guidelines as a reference to enhance transparency and compliance in its pricing and sales processes, ensuring adherence to clear pricing principles [11]. - BAIC Group has announced its support for the guidelines, emphasizing its commitment to lawful operations and the establishment of a comprehensive pricing compliance management system [11]. Group 3: Industry Association Insights - The China Association of Automobile Manufacturers (CAAM) has interpreted the guidelines, stating that legal and compliant operations are essential for businesses [14]. - CAAM highlights the importance of developing robust internal pricing compliance mechanisms to avoid brand damage and customer loss due to pricing violations, thereby fostering a trustworthy business image [14]. - The association encourages automotive manufacturers to focus on brand, product, and service quality while maintaining a fair competitive environment to promote healthy industry development [14].

Core Viewpoint - The National Market Supervision Administration released the "Guidelines for Compliance of Pricing Behavior in the Automotive Industry (Draft for Comments)", aiming to regulate pricing behaviors of automotive manufacturers and prevent unfair competition practices [2][3]. Group 1: Pricing Behavior Regulations - The guidelines consist of five chapters and 28 articles, focusing on detailing pricing behavior norms for automotive manufacturers, clarifying pricing behavior requirements for sales enterprises, and guiding the establishment of internal compliance management systems [3]. - It emphasizes full-process price management, requiring a comprehensive pricing management system covering vehicle sales and financial services [3]. - The guidelines prohibit price discrimination among operators under the same transaction conditions and ban price collusion between manufacturers and parts suppliers [3]. Group 2: Sales Enterprise Requirements - The guidelines address issues in new car sales, such as improper pricing and false promotions, mandating accurate price displays and clear promotional rules [4]. - It specifies that promotional rules, terms, and conditions must be prominently displayed, and misleading pricing practices are strictly prohibited [4]. - A risk warning mechanism is encouraged to alert consumers about significantly low prices, ensuring transparency in service charges [4]. Group 3: Internal Compliance Management - The guidelines encourage automotive enterprises to establish a systematic internal pricing compliance management framework to prevent pricing violations from the source [5]. - It outlines six core mechanisms for internal compliance, including price decision-making and risk prevention [5]. - Companies are required to clarify internal responsibilities and update their systems in response to legal and policy changes to ensure effective implementation [5]. Group 4: Industry Response - The China Automotive Industry Association and the China Automobile Circulation Association responded positively, stating that the guidelines provide clear guidance to avoid legal risks and promote compliance [5][6]. - Industry organizations highlighted the importance of collaboration among manufacturers, dealers, regulatory bodies, and consumers to ensure effective execution of the guidelines [6]. - Major automotive companies like BYD, BAIC Group, and Xpeng Motors expressed their commitment to optimizing pricing management and compliance systems in line with the guidelines [6][7].

Group 1 - The National Market Supervision Administration has drafted the "Guidelines for Compliance of Pricing Behavior in the Automotive Industry" to standardize pricing practices in the automotive sector and is currently seeking public feedback [1][21] - The guidelines consist of five chapters and 28 articles, outlining principles, requirements, and specific pricing behavior norms for automotive manufacturers and sales enterprises [3][21] - The guidelines encourage industry associations to enhance self-discipline and promote compliance in pricing practices [3] Group 2 - The guidelines specify that automotive manufacturers must implement comprehensive pricing management covering all aspects from vehicle sales to financial services [3][21] - It emphasizes the need for clear and transparent promotional and pricing behaviors, including well-defined rebate policies and respect for dealers' pricing autonomy [4][21] - The guidelines also detail the prohibition of unfair pricing practices, such as price discrimination and collusion among manufacturers and parts suppliers [6][21] Group 3 - Automotive sales enterprises are required to ensure clear pricing, avoiding misleading promotions and ensuring that all pricing information is accurately displayed [8][22] - The guidelines mandate that sales enterprises must not engage in deceptive pricing practices, such as false advertising or misleading comparisons [11][22] - A risk warning mechanism is encouraged to alert consumers about significant price reductions and associated risks [12][22] Group 4 - The guidelines advocate for the establishment of internal compliance management systems within automotive companies to prevent pricing violations [15][21] - It outlines six core mechanisms for internal compliance, including pricing decision-making and risk prevention [17][21] - Continuous improvement and execution of compliance measures are emphasized to adapt to legal and policy changes [18][21] Group 5 - Major automotive companies like BYD, BAIC Group, and XPeng Motors have expressed strong support for the guidelines, committing to enhance their pricing management and compliance systems [23][24][27] - These companies aim to ensure fair competition, transparency in pricing, and protection of consumer rights while fostering a collaborative industry environment [24][27]

2025年12月11日，北汽福田汽车股份有限公司（证券代码：600166，以下简称"福田汽车"）2025年第八 次临时股东会及五届九次职工代表大会相继召开，公司第十届董事会成员正式出炉，标志着其公司治理 结构完成新一轮关键换届。 根据表决结果，股东会选举产生新一届董事会的非独立董事与独立董事。常瑞、武锡斌、吴骥、顾鑫、 王学权、王德成6人当选为非独立董事；叶盛基、李亚、刘亭立、黎韦清4人当选为独立董事。此外，根 据职工代表大会决议，蔡恩禹当选为第十届董事会职工代表董事。至此，由11名董事组成的福田汽车第 十届董事会正式组建完毕。 2025年12月11日，北汽福田汽车股份有限公司（证券代码：600166，以下简称"福田汽车"）2025年第八 次临时股东会及五届九次职工代表大会相继召开，公司第十届董事会成员正式出炉，标志着其公司治理 结构完成新一轮关键换届。 根据表决结果，股东会选举产生新一届董事会的非独立董事与独立董事。常瑞、武锡斌、吴骥、顾鑫、 王学权、王德成6人当选为非独立董事；叶盛基、李亚、刘亭立、黎韦清4人当选为独立董事。此外，根 据职工代表大会决议，蔡恩禹当选为第十届董事会职工代表董事。至此，由11名 ...

Core Viewpoint - In November 2025, the heavy truck market in China experienced a significant year-on-year increase of 65%, achieving the highest monthly sales of the year, surpassing the traditional peak months of September and October [1][12]. Sales Performance - Heavy truck sales reached 113,200 units in November, marking a 65% increase year-on-year and a 7% increase month-on-month [2][5]. - Cumulatively, from January to November 2025, heavy truck sales totaled 1,042,300 units, representing a 27% increase compared to the same period last year [5][9]. Market Trends - The heavy truck market has shown a consistent upward trend, with November marking the eighth consecutive month of sales growth [2][7]. - The average monthly sales for the year 2025 stand at approximately 94,600 units, significantly higher than the averages of 2024 and 2023 [5]. Competitive Landscape - The top five companies in the heavy truck market accounted for 87.78% of the total sales in November, with significant contributions from major players such as Heavy Truck and Jiefang [7][11]. - Notable sales figures for November include Heavy Truck at 28,800 units and Jiefang at 23,800 units, both exceeding 20,000 units [7][10]. Year-on-Year Growth - All top ten companies in the heavy truck market reported year-on-year growth in November, with some companies like Foton and Xugong achieving growth rates exceeding 100% [8][10]. - The market concentration has increased, with the top ten companies holding a combined market share of 97.54% [11].

Core Viewpoint - The heavy truck market in China experienced a significant increase in sales in November 2025, with a year-on-year growth of 65%, marking the highest monthly sales of the year and surpassing the traditional peak seasons of "Golden September and Silver October" [1][20]. Sales Performance - In November 2025, the total sales of heavy trucks reached 113,200 units, reflecting a month-on-month increase of 7% and a year-on-year increase of 65%, with the growth rate expanding by 5 percentage points compared to October 2025 [4][11]. - The average sales volume for November over the past decade was approximately 78,700 units, with only two years exceeding 100,000 units, making the November 2025 performance notably strong [4][6]. Cumulative Sales Data - From January to November 2025, cumulative heavy truck sales reached 1,042,300 units, representing a year-on-year increase of 27%, with a net increase of over 224,500 units compared to the same period last year [8][15]. - The average monthly sales for the year stood at approximately 94,600 units, significantly higher than the averages for 2024 and 2023 [8]. Market Share and Competition - In November 2025, five companies sold over 10,000 units each, with the top two companies, Heavy Truck and Liberation, selling 28,800 and 23,800 units respectively, maintaining a combined market share of 87.78% among the top five companies [11][13]. - The top ten companies accounted for 96.43% of the market share, indicating a high level of concentration within the industry [11][17]. Year-on-Year Growth of Companies - All top ten companies in the heavy truck market achieved year-on-year sales growth in November, with some companies like Foton and Xugong experiencing growth rates of 139% and 150% respectively [13][17]. - The market share of the top five companies increased to 90.30%, reflecting a strengthening of industry concentration compared to the previous year [17][18]. Future Outlook - With the strong performance in November, it is anticipated that the total heavy truck sales for 2025 will exceed 1.1 million units, with the final figures expected to be confirmed in December [20].

北汽福田汽车股份有限公司 关于对北京汽车集团财务有限公司金融业务 第三条 领导小组由公司董事长任组长，为金融业务风险防范及处置工作的 第一责任人；财务总监任副组长，其他成员包括公司董事会秘书、财务计划部、 审计部、法律部、金融管理部等部门负责人。 第四条 领导小组办公室设在财务计划部，由公司财务总监任办公室主任， 财务计划部总监任副主任,成员包括财务计划部、审计部、金融管理部等部门相 关人员。负责对财务公司的经营资质、业务和风险状况进行适时监控和评估，并 视出现的风险状况，启动应急处置预案。 第五条 领导小组及办公室成员不得隐瞒、缓报、谎报公司金融业务风险， 或者授意他人隐瞒、缓报、谎报金融业务风险。 的风险处置预案 第一章总则 第一条 为有效防范、及时控制和化解北汽福田汽车股份有限公司（以下简 称"公司"）及控股的子公司在北汽集团财务有限责任公司(以下简称"财务公司") 的金融业务风险，保证资金的安全性、流动性，特制定本应急处置预案。 第二章组织机构及职责 第六条 财务计划部应督促财务公司按时提供相关文件，关注财务公司经营 情况，并从其控股股东及成员单位或监管部门及时了解信息，做到信息监控到位， 风险防范有 ...

证券代码：600166 证券简称：福田汽车 公告编号：临 2025-094 北汽福田汽车股份有限公司关于与北京汽车集团财务有限 公司续签《金融服务协议》暨关联交易的公告 本公司董事会、全体董事及相关股东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： 北汽福田汽车股份有限公司（以下简称"公司"）拟与北京汽车集团财务有限公 司（以下简称"财务公司"）续签《金融服务协议》（以下称"协议"），就存款服务、信 贷服务、结算业务以及其他金融服务等业务达成协议。 | 每日最高存款余额 | 640,000 万元 | | --- | --- | | 每日最高贷款余额 | 550,000 万元 | | 综合授信额度 | 550,000 万元 | | 协议有效期 | 1 年 | | 存款利率范围 | 参照中国人民银行颁布的人民币存款基准利率厘定， 且不低于国内商业银行提供同期同档次存款服务所 | | | 适用的利率 | | 贷款利率范围 | 由双方按照中国人民银行不时颁布利率及现行市况 协商厘定，且贷款利率将不高于国内金融机构同期 | | | 同档次贷款 ...