Group 1 - The company announced the adjustment of senior management personnel, specifically the departure of Gong Haidong from the position of Vice General Manager and the appointment of Liu Xuguang and Sun Jing as new Vice General Managers [2][4][5][6] - Gong Haidong's departure will not affect the company's normal operations, and he has completed the necessary handover procedures [2][4][13] - The board of directors held a meeting on June 11, 2025, to discuss the personnel changes, with all 11 directors present and voting unanimously in favor of the adjustments [3][4] Group 2 - Liu Xuguang, born in November 1985, has held various positions within the company, including Marketing Strategy Director and Deputy General Manager, and is currently the Functional Vice President [9] - Sun Jing, born in June 1984, has served as the Human Resources Department Director and is currently the Functional Vice President, with a background in human resources management [10] - The company expressed gratitude for Gong Haidong's contributions since joining in 2005, acknowledging his diligent work during his tenure [7][14] Group 3 - The company also announced the election of Li Qinghua as the employee representative director, replacing Gong Haidong, with Li currently serving as Vice General Manager and Financial Head [14][15] - Li Qinghua has extensive experience in financial management and is qualified to serve as a director [14][15]

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 ...

Market Overview - The market for new energy light trucks continues to rise significantly, with May sales reaching 17,180 units, a year-on-year increase of 75%, and a penetration rate of 26.09% [6][7] - From January to May 2025, the top-selling company was Yuan Cheng with 16,228 units sold, while Guangdong province had the highest sales proportion [6] Company Developments - Foton's Aoling New Energy product matrix was launched, focusing on addressing logistics users' pain points such as complex purchasing processes and maintenance response times [22] - Jianghuai delivered 100 units of its new energy cold chain vehicles to Xuelan Dairy, ensuring fresh and stable quality during transportation [27] - Chery's Zero Meter light truck introduced a new version with enhanced battery technology, promising longer battery life and reduced energy consumption [28] - Dongfeng Liuzhou's new energy heavy-duty truck, based on an 800V high-voltage platform, features a maximum power of 1,209 horsepower and supports super-fast charging [29] Policy and Regulation - The Ministry of Industry and Information Technology released guidelines to promote low-energy and low-emission measuring instruments, supporting the green and low-carbon transition in manufacturing [5][17] - Hunan Province's three-year action plan for hydrogen energy development emphasizes coordinated layout and innovation-driven applications [9] Industry Data - The top 10 companies in new energy light truck sales from January to May 2025 show significant growth, with some models experiencing over 500% year-on-year increases [6][7] - The penetration rate of new energy light trucks has increased from 24.85% to 26.09% in 2025 [6] Technological Innovations - Dongsoft and CATL's subsidiary collaborated to promote the efficient implementation of intelligent skateboard chassis control platforms [4] - The introduction of new sensor tires by Pirelli aims to monitor road conditions in real-time, assisting road management departments [4]

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 ...

内容概要：新能源冷藏车是以电力、氢能等清洁能源为动力源，搭载制冷机组和隔热车厢的专用运输车 辆，相较于传统燃油冷藏车，其核心优势在于零排放、低噪音和显著降低运营成本。近年来，在"双 碳"战略持续推进、政策持续加码、下游冷链物流行业蓬勃发展、电池等关键技术不断进步，叠加基础 设施加速完善等多重因素驱动下，我国新能源冷藏车行业实现迅猛发展。数据显示，2024年，我国新能 源冷藏车销量已从2019年的332辆快速攀升至21368辆，五年间实现了超过64倍的增长规模，年均复合增 长率更是达到惊人的130%。 相关上市企业：福田汽车（600166）；宇通客车（600066）等 相关企业：重庆军通汽车有限责任公司；陕西汽车控股集团有限公司；江西吉利新能源商用车有限公 司；山东唐骏欧铃汽车制造有限公司；河南勤帆新能源集团有限公司；深圳赛迪新能源物流有限公司； 深圳汇车新能源汽车服务有限公司；荆州市楚泰新能源科技有限公司等 关键词：产业链；新能源冷藏车销量；冷藏车保有量；竞争格局；重点企业；发展趋势 一、行业概况 新能源冷藏车是以电力、氢能等清洁能源为动力源，搭载制冷机组和隔热车厢的专用运输车辆，按照动 力类型的不同，可分为 ...

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 ...