承董事會命 董事長 馬常海 中 國，二 零 二 五 年 八 月 十 九 日 於本公告刊發之日，本公司執行董事為馬常海先生、王德成先生、黃維彪先生、 孫 少 軍 先 生、袁 宏 明 先 生 及 馬 旭 耀 先 生；本 公 司 非 執 行 董 事 為 張 良 富 先 生、 Richard Robinson Smith先生及Michael Martin Macht先 生；本 公 司 獨 立 非 執 行 董 事 為 蔣 彥 女 士、遲 德 強 先 生、趙 福 全 先 生、徐 兵 先 生 及 陶 化 安 先 生。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部份內容而產生或因依賴該等內容而引起的任何損失承擔任何責任。 濰柴動力股份有限公司 WEICHAI POWER CO., LTD. （於 中 華 人 民 共 和 國 註 冊 成 立 之 股 份 有 限 公 司） （股 份 代 號：2338） 董事會會議通告 濰柴動力股份有限公司（「本公司」）宣 佈，本 公 司 ...

Core Viewpoint - In July, domestic heavy truck sales reached 85,000 units, representing a year-on-year increase of 46% but a month-on-month decline of 13% [1][2]. Sales Performance - Cumulative sales of domestic heavy trucks from January to July totaled 624,000 units, showing an 11% year-on-year growth [1][2]. - The sales structure indicates that in July, the proportions of semi-trailer trucks, cargo trucks, and incomplete vehicles in the overall heavy truck sales were 50.1%, 28.0%, and 21.9% respectively, compared to 51.9%, 25.3%, and 22.7% in 2024 [2]. - In July, semi-trailer truck sales were 43,000 units (up 29% year-on-year, down 12% month-on-month), while heavy cargo truck sales were 25,000 units (up 83% year-on-year, down 11% month-on-month) [2]. - Heavy incomplete vehicle sales in July reached 17,000 units, marking a 50% year-on-year increase but a month-on-month decline of 18% [2]. Natural Gas Heavy Trucks - In July, domestic natural gas heavy truck sales were 12,000 units, down 7% year-on-year and 3% month-on-month [3]. - Cumulative sales of natural gas heavy trucks from January to July were 100,000 units, reflecting a 14% year-on-year decline [3]. - The penetration rates for natural gas in heavy trucks and semi-trailer trucks were 14% and 27% respectively in July [3]. New Energy Heavy Trucks - In July, domestic new energy heavy truck sales reached 13,000 units, showing a significant year-on-year increase of 159% but a month-on-month decline of 10% [3]. - Cumulative sales of new energy heavy trucks from January to July were 88,000 units, representing a 172% year-on-year growth [3]. - The penetration rate for new energy heavy trucks was 16% in July, with a cumulative rate of 14% for the first seven months [3]. Investment Strategy and Recommendations - With economic recovery and the introduction of the "old-for-new" policy for heavy trucks in 2025, domestic heavy truck sales are expected to gradually rebound, with a forecast of 1.067 million units in 2025, an 18% year-on-year increase [4]. - The technology for domestic new energy heavy trucks has matured, and costs have decreased rapidly, indicating significant potential for penetration rate growth, expected to reach 15% by 2025 [4]. - The heavy truck industry still has growth potential, driven by domestic recovery and continuous export growth [4]. - Recommended stocks include Weichai Power (000338.SZ), China National Heavy Duty Truck Group (000951.SZ, 03808), CIMC Vehicles (301039.SZ), and Foton Motor (600166.SH), with FAW Jiefang (000800.SZ) identified as a beneficiary [4].

Investment Rating - The report maintains a positive outlook on the automotive sector, suggesting an increase in investment weight towards automotive dividend style configuration for the second half of 2025 [3][5]. Core Insights - The automotive sector is at a crossroads, with the end of the electric vehicle (EV) dividend and the dawn of automotive intelligence. The report suggests that structural opportunities may arise in the second half of 2025 [3][5]. - The report highlights significant partnerships and collaborations, such as the upgrade of the partnership between Xiaopeng and Volkswagen, which will enhance their technology strategy across a broader market [2][3]. - The report anticipates a strong demand for passenger vehicles due to the implementation of scrapping and replacement policies, projecting a retail sales forecast of 23.8 million units in 2025, a year-on-year increase of 4.6% [50][58]. Summary by Sections Weekly Review - In the first week of August, the total number of compulsory insurance for passenger vehicles was 375,000 units, reflecting a week-on-week decrease of 18.8% but an increase of 3.6% compared to the previous month [2][49]. - The best-performing sub-sectors included motorcycles and auto parts, with respective increases of 6.9% and 3.5% [2][3]. Market Performance - The A-share automotive sector ranked 6th in performance this week, while the Hong Kong automotive sector ranked 12th [7][9]. - The report notes that the motorcycle sector continues to outperform other segments within the automotive industry [15][20]. Company Performance - Key companies such as Geely Automobile reported a quarterly revenue of 77.7 billion yuan for Q2 2025, with a year-on-year increase of 28.4% [2][3]. - The report also mentions strategic collaborations, such as Junsheng Electronics partnering with leading intelligent driving algorithm company Momenta [2][3]. Future Outlook - The report predicts that the penetration rate of new energy vehicles will reach 56.4% by 2025, with total sales of new energy passenger vehicles expected to be 1.343 million units [54][58]. - The report emphasizes the importance of domestic and international demand, forecasting a 15% growth in domestic sales and a 20% growth in export sales for 2025 [58].

Group 1 - The core viewpoint of the news is that Weichai Power Co., Ltd. has applied for a patent related to a "vibration suppression method, motor controller, and vehicle," which aims to enhance vehicle comfort by reducing operational vibrations [1] - The patent application was filed on April 2025, and the public announcement number is CN120481671A [1] - The vibration suppression method determines whether the drive motor meets suppression conditions based on the rate of change of the motor's speed, allowing for quick and accurate adjustments [1] Group 2 - Weichai Power Co., Ltd. was established in 2002 and is primarily engaged in the automotive manufacturing industry, with a registered capital of approximately 8.72 billion RMB [2] - The company has invested in 64 enterprises and participated in 5,000 bidding projects, holding 741 trademark records and 5,000 patent records [2] - Weichai New Energy Power Technology Co., Ltd., founded in 2017, focuses on the manufacturing of chemical raw materials and products, with a registered capital of approximately 1.51 billion RMB [2] - This subsidiary has invested in 2 enterprises, participated in 12 bidding projects, and holds 556 patent records [2]

Core Viewpoint - The establishment of China's first diesel engine oil D1 standard marks a significant step towards breaking the foreign monopoly in the diesel engine oil standardization field, driven by Weichai Power and supported by Shandong Heavy Industry Group [1][2][3] Industry Context - Despite being the world's largest producer of engines and vehicles, China has relied on the American API standard for diesel engine oil, which has limited the country's development and influence in this area [2] - The establishment of the "Engine Lubricating Oil China Standard Development Innovation Alliance" in 2016, involving 42 organizations including Weichai, aims to create a domestic standard that meets China's unique conditions [2][3] Company Involvement - Weichai Power, as a leading enterprise in the diesel engine industry and a core member of the alliance, has taken a proactive role in developing the D1 standard, emphasizing the importance of having an independent standard for the industry [3][4] - The company has organized a cross-departmental team of experts and collaborated with various research institutions to ensure the successful development of the D1 standard [3][4] Technical Development - The WP13 engine has been selected as the core testing platform for the D1 standard due to its performance and suitability for Chinese operating conditions [5][6] - Weichai has invested over 30 billion yuan in R&D over the past decade, with a focus on building national-level strategic technology platforms and a strong team of over 6,000 high-end R&D talents [7][8] Standardization Process - The D1 standard development process has involved nearly a hundred Weichai personnel over the past ten years, with extensive testing and data analysis to ensure the standard meets the needs of Chinese engines [8][9] - Weichai has contributed to the drafting of multiple industry standards and has supported the establishment of a non-profit third-party certification platform to break the foreign certification monopoly [9][10] Impact on the Industry - The D1 standard is expected to enhance the competitiveness of Weichai's products and improve the overall performance of diesel engines in the market, with oil change intervals increasing from 60,000 kilometers to 120,000 kilometers [10] - The successful implementation of the D1 standard will accelerate the independence of China's diesel engine oil industry from foreign standards, positioning Weichai as a key player in this transition [10]

8月15日，2025款五菱星光S上市。这款拥有插混和纯电两种动力形式的新能源SUV，如何承载五菱向上突围的野心，构筑五菱在10万级新能源汽车市场的 地位？ 2025年初，五菱成为首家累计产销破3000万辆的中国品牌，但销量结构还存在不足，主力产品均价长期徘徊于8万元以下。星光S承载着五菱向上发展的使 命，其起售价虽然不足10万元，但较五菱产品整体均价已有明显提升，是五菱冲击主流市场的关键落子。 从价格上看，新款五菱星光S官方指导价为9.98万至12.98万元，限时置换补贴价下探至8.98万至11.98万元，全系降幅1万元。这一操作通过"高标低售"制造价 格落差，叠加各类附加权益后，用户心理价格锚点将从"10万级"降至"8万级"。 新款五菱星光S拥有很多同价位车型中罕见的配置，包括插混版130km高功率旗舰车型搭载1.5T高功率发动机，纯电版车型配备了2C快充技术，30%至80% 充电仅需20分钟，充电15分钟即可补能200km，以及搭载灵眸辅助驾驶系统，采用21个智能感知硬件及行业领先 "两段式端到端" 算法。 对于年销超过百万辆的五菱而言，新款五菱星光S可通过规模效应压降电池、智驾硬件采购成本，支撑"低价高 ...

Core Viewpoint - Weichai Power's stock price closed at 15.48 yuan on August 15, 2025, reflecting a decrease of 0.08 yuan or 0.51% from the previous trading day [1] Company Overview - Weichai Power is a leading manufacturer of automotive components and power systems in China, with its main business covering core components such as engines, transmissions, and axles [1] - The company's products are widely used in commercial vehicles, construction machinery, and agricultural equipment [1] Business Developments - On August 15, the company stated on its interactive platform that it can provide engine products for large mining equipment such as rigid mining trucks and mining excavators [1] - Weichai Power has also made advancements in low-carbon power sectors, including hybrid, pure electric, and methanol engines [1] - The company clarified that it is currently not involved in offshore semi-submersible platforms or underwater hydrogen energy development equipment [1] Financial Performance - On August 15, the net outflow of main funds was 83.03 million yuan, but there was a cumulative net inflow of 107 million yuan over the past five trading days [1]

Core Viewpoint - Weichai Power has announced its capability to provide engine products suitable for mainstream large mining equipment, including rigid mining trucks, mining excavators, and bulldozers, while also focusing on low-carbon and zero-carbon power products [1] Group 1 - The company offers a range of engine products that cater to various large mining equipment applications [1] - Weichai Power has developed low-carbon and zero-carbon power products, including hybrid, pure electric, and methanol engines [1] - The company aims to meet diverse customer needs across different application scenarios [1]

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请介绍媒体报道的公司提供深海养殖船的建造与应用 情况吧。潍柴动力高端海洋装备制造除了船用发动机外，是否还有海上半潜平台、海底氢能开发设备、 船舶系统设计等业务和服务。 潍柴动力（000338.SZ）8月15日在投资者互动平台表示，公司暂无相关业务。 ...

格隆汇8月15日丨潍柴动力(000338.SZ)在互动平台表示，公司可提供适配刚性矿卡、矿用挖掘机、矿用 推土机等主流大型矿山用设备的发动机产品，并在混动、纯电、甲醇发动机等低碳零碳矿山动力产品均 有布局，全面满足不同客户在不同应用场景下的需求。 ...