Core Viewpoint - Hanma Technology (600375.SH) reported a significant increase in truck sales for January 2026, indicating strong growth in the market, particularly in the new energy heavy-duty truck segment [1] Group 1: Sales Performance - The total truck sales (including incomplete vehicles) for January 2026 reached 1,308 units, representing a year-on-year growth of 30.54% [1] - Among these, the sales of new energy heavy-duty trucks amounted to 1,191 units, showing a remarkable year-on-year increase of 147.1% [1]

Core Viewpoint - Hanma Technology announced significant growth in truck production and sales for January 2026, particularly in the new energy heavy-duty truck segment, indicating a strong market demand and a shift towards sustainable transportation solutions [1] Production and Sales Summary - The total production of trucks (including incomplete vehicles) reached 1,303 units, representing a year-on-year increase of 40.11% [1] - Total sales of trucks amounted to 1,308 units, showing a year-on-year growth of 30.54% [1] New Energy Heavy-Duty Trucks - Production of new energy heavy-duty trucks was 1,085 units, which is a remarkable year-on-year increase of 140.04% [1] - Sales of new energy heavy-duty trucks reached 1,191 units, reflecting a year-on-year growth of 147.10% [1] Chassis Assemblies and Alcohol-Hydrogen Power Systems - Production of chassis assemblies was 46 units, marking a significant year-on-year decline of 77.00% [1] - Sales of chassis assemblies were 27 units, which is a year-on-year decrease of 86.50% [1] - Production of alcohol-hydrogen power systems totaled 189 units, down 24.70% year-on-year [1] - Sales of alcohol-hydrogen power systems were 172 units, indicating a year-on-year decline of 58.05% [1]

Core Viewpoint - The commercial vehicle sector experienced a decline of 2.31% on February 2, with Jianghuai Automobile leading the drop, while the Shanghai Composite Index fell by 2.48% and the Shenzhen Component Index decreased by 2.69% [1] Group 1: Market Performance - The closing price of Jianghuai Automobile was 52.51, down by 4.00%, with a trading volume of 489,500 shares and a transaction value of 2.61 billion [2] - The commercial vehicle sector saw a net outflow of 182 million in main funds, while retail investors contributed a net inflow of 40.3 million [2][3] - Key stocks in the commercial vehicle sector showed varied performance, with Jinlong Automobile increasing by 3.99% to a closing price of 17.22, while other companies like China National Heavy Duty Truck and FAW Jiefang saw declines of 2.01% and 2.31% respectively [1][2] Group 2: Fund Flow Analysis - Main funds showed a net inflow of 23.30 million into Jinlong Automobile, while there was a significant outflow from China National Heavy Duty Truck amounting to 20.77 million [3] - Retail investors had a net inflow of 211.62 million into Jinlong Automobile, contrasting with outflows from other companies like Ankai Bus and Dongfeng Motor [3] - The overall sentiment in the commercial vehicle sector indicates a mixed response from different types of investors, with main funds generally withdrawing while retail investors showed some interest [2][3]

证券日报网讯1月30日，汉马科技（600375）在互动平台回答投资者提问时表示，公司的醇氢发动机除 道路应用外，还应用于船舶、发电机组、工程机械等非道路领域。 ...

Group 1 - The commercial vehicle sector experienced a decline of 0.27% on January 28, with Jinlong Automobile leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] - Key stocks in the commercial vehicle sector showed varied performance, with China National Heavy Duty Truck rising by 3.71% and Jinlong Automobile falling by 5.29% [2] Group 2 - The net outflow of main funds in the commercial vehicle sector was 73.19 million yuan, while retail investors saw a net inflow of 230 million yuan [2] - The trading volume and turnover for major stocks in the sector varied, with Jianghuai Automobile achieving a turnover of 2.859 billion yuan [1][2] - Detailed fund flow analysis indicated that several companies, including Dongfeng Motor and Ankai Bus, experienced significant net outflows from main funds [3]

Core Viewpoint - The commercial vehicle sector experienced a rise of 2.28% on January 27, with China National Heavy Duty Truck leading the gains, while the Shanghai Composite Index increased by 0.18% and the Shenzhen Component Index rose by 0.09% [1]. Group 1: Market Performance - The commercial vehicle sector's stocks showed varied performance, with China National Heavy Duty Truck closing at 18.60, up by 5.50%, and Jianghuai Automobile at 52.90, up by 4.55% [1]. - The trading volume for Jianghuai Automobile was 703,300 shares, resulting in a transaction value of 3.682 billion yuan [1]. - Other notable performers included Yutong Bus, which rose by 3.65% to close at 32.40, and Zhongtong Bus, which increased by 1.29% to 11.79 [1]. Group 2: Capital Flow - The commercial vehicle sector saw a net inflow of 53.1984 million yuan from institutional investors, while retail investors contributed a net inflow of 78.1087 million yuan [2]. - Conversely, speculative funds experienced a net outflow of 131 million yuan [2]. - The capital flow data indicates that Jianghuai Automobile had a significant net inflow of 91.0266 million yuan from institutional investors, while Foton Motor faced a net outflow of 155.29 million yuan from speculative funds [3].

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [6] Core Insights - The automotive market is experiencing significant negative growth, with retail sales of passenger vehicles dropping by 28% year-on-year in the first half of January 2026, and wholesale sales declining by 35% [1][19] - The report emphasizes the need for supportive policies to stimulate market recovery and highlights the potential for growth in the overseas electric vehicle market due to favorable policies in countries like Canada and Germany [3][4] - The report suggests that the domestic market may rebound following the implementation of supportive policies, which could positively impact leading brands [4] Summary by Sections Market Overview - As of January 1-18, 2026, retail sales of passenger vehicles in China reached 679,000 units, a decrease of 28% compared to the same period last year, while wholesale sales totaled 740,000 units, down 35% year-on-year [1][19] - In the same period, retail sales of new energy vehicles were 312,000 units, reflecting a 16% decline year-on-year, and wholesale sales were 348,000 units, down 23% [1][19] Policy Developments - Canada announced plans to import 49,000 electric vehicles from China, significantly reducing tariffs from 100% to 6.1% [3] - Germany introduced a new subsidy program for electric vehicles, offering up to 6,000 euros to families purchasing new electric cars, effective from January 1, 2026 [3][44] - The UK government has launched a substantial subsidy program for electric trucks, with a total budget of 318 million pounds [48] Investment Opportunities - The report highlights the potential for Chinese new energy vehicles to expand into overseas markets, driven by favorable international policies [4] - It suggests that the recovery of the domestic automotive market could benefit leading brands significantly [4]

Core Viewpoint - Hanma Technology (600375) is focusing on the rapid growth of overseas heavy truck demand and plans to enhance its overseas market development and marketing system reform [1] Group 1 - The company is aware of the significant increase in overseas heavy truck demand [1] - The company intends to continue promoting the development of overseas markets [1] - The company aims to deepen the reform of its overseas marketing system [1]

人民财讯1月23日电，据"汉马科技（600375）集团"消息，1月22日，2026汉马醇氢动力绿色生态伙伴大 会在安徽马鞍山举行。大会现场，汉马科技与河南港航集团达成战略合作，与合作伙伴达成200套养殖 渔船醇氢动力系统、18套6000吨散货船醇氢动力系统、8套7200吨散货船醇氢动力系统以及1380套醇氢 动力发电机组战略签约，并发布了1000至15000T醇氢电动船舶动力系统解决方案。 ...

Group 1 - The commercial vehicle sector saw a slight increase of 0.14% on January 22, with Jinlong Automobile leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - Jinlong Automobile's stock price rose by 8.82% to 21.97, with a trading volume of 513,200 shares and a transaction value of 1.087 billion yuan [1] Group 2 - The commercial vehicle sector experienced a net outflow of 5.1958 million yuan from institutional investors, while retail investors saw a net outflow of 24.388 million yuan [3] - Retail investors contributed a net inflow of 29.5837 million yuan, indicating a mixed sentiment among different investor types [3] - The individual stock performance showed varied results, with Jinlong Automobile having a net inflow of 71.1658 million yuan from institutional investors, while Foton Motor and other stocks experienced net outflows [4]