Core Insights - The report highlights the acceleration of industrial upgrades and the expansion of the automotive industry into international markets, particularly focusing on smart and electric vehicles [1][3]. Smart Vehicles - Tesla's Full Self-Driving (FSD) feature is expected to enter the Chinese market, with the city Navigation on Autopilot (NOA) becoming a standard for advanced driving [4]. - The penetration rate of city NOA is projected to reach 12.2% by 2025, indicating rapid industry growth and benefiting related component manufacturers [4]. - The year 2025 is marked as the beginning of the Robotaxi era, with significant advancements from companies like Waymo and Tesla, creating vast market potential [4]. - New models and popular vehicles are expected to drive sales, with notable launches from brands like AITO and Xiaomi, indicating strong consumer interest [4]. New Energy Vehicles - The report forecasts that sales of new energy vehicles (NEVs) will reach 15.85 million units in 2025, with a penetration rate of 55% [4]. - In the first half of 2025, NEV sales reached 6.937 million units, a year-on-year increase of 40.3%, driven by supply chain improvements and favorable policies [4]. - The global expansion of Chinese automakers is anticipated to contribute significantly to industry growth, leveraging competitive advantages in cost and production capacity [4]. Commercial Vehicles - Heavy-duty truck sales are expected to reach 1.02 million units in 2025, supported by policies encouraging the replacement of older vehicles [4]. - The bus sector is also projected to grow, with sales of 526,000 units in 2024, reflecting a 6.9% increase year-on-year [4]. - The commercial vehicle market is benefiting from the renewal of old vehicles and the export of new energy buses [4]. Two-Wheelers - The electric two-wheeler segment is poised for growth due to favorable policies and the transition to new standards, with production expected to increase significantly [4]. - Motorcycle exports are also on the rise, with a 25% increase in the first half of 2025, driven by demand for larger displacement models [4]. Market Performance - The automotive sector has shown resilience, with a cumulative increase of 8.22% in the first half of 2025, outperforming other industries [7][22]. - The report notes a strong performance in commercial vehicles, with significant growth in both sales and exports [7][23]. Policy Support - The Chinese government continues to implement policies that support the automotive industry's transition to smart and electric vehicles, enhancing the overall market environment [57][59]. - Various initiatives are in place to promote the adoption of intelligent driving technologies and improve safety standards [58][60]. Investment Opportunities - The report identifies key investment targets across various segments, including smart vehicles, new energy vehicles, commercial vehicles, and two-wheelers, highlighting companies like BYD, Changan, and Aima Technology as potential beneficiaries of industry trends [6].

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 的 股 份 有 限 公 司） （股 份 代 號：2338） 海外監管公告 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則第13.10B條 而 作 出。 茲載列濰柴動力股份有限公司（「本公司」）在深圳證券交易所網站刊登日期為 二 零 二 五 年 七 月 十 八 日 的 公 告，僅 供 參 閱。中 文 公 告 的 全 文 刊 登 於 聯 交 所 及 本 公 司 網 站。 承董事會命 董事長 馬常海 中國山東濰坊 二零二五年七月十八日 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 ...

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 的 股 份 有 限 公 司） （股 份 代 號：2338） 海外監管公告 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則第13.10B條 而 作 出。 茲載列濰柴動力股份有限公司（「本公司」）在深圳證券交易所網站刊登日期為 二 零 二 五 年 七 月 十 八 日 的 公 告，僅 供 參 閱。中 文 公 告 的 全 文 刊 登 於 聯 交 所 及 本 公 司 網 站。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 承董事會命 董事長 馬常海 中國山東濰坊 二零二五年七月十八日 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、 ...

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 的 股 份 有 限 公 司） （股 份 代 號：2338） 公 告 調整以集中競價交易方式回購A股股份的回購價 茲提述濰柴動力股份有限公司（「本公司」）日期為二零二五年四月九日及二零 二 五 年 四 月 二 十 九 日 的 公 告、本 公 司 日 期 為 二 零 二 五 年 四 月 三 十 日 的 通 函 以 及 本 公 司 日 期 為 二 零 二 五 年 五 月 二 十 日 的 投 票 結 果 公 告，內 容 有 關 以 集 中 競 價交易方式回購A股 股 份。除 非 文 義 另 有 所 指，否 則 本 公 告 所 用 詞 彙 與 上 述 公 告 及 通 函 所 界 定 者 具 有 相 同 涵 義。 誠如本公司日期為二零二五年四 ...

Group 1: Engine and Data Center Business Development - The M series large-bore engines have seen significant production and sales growth in 2025, particularly for data center engines, driven by strong industry demand [1] - The company aims to leverage its technological performance, production capacity, and delivery efficiency to achieve its annual sales targets and expand into strategic high-end markets [1] Group 2: Heavy Truck Industry Outlook - In the first half of 2025, China's heavy truck market recorded cumulative sales of approximately 539,000 units, a year-on-year increase of about 7%, with exports reaching around 156,000 units, up about 3% [2] - The heavy truck market is expected to improve gradually, supported by the implementation of vehicle replacement policies, with June sales showing a year-on-year growth of 37% and a month-on-month increase of 10% [2] Group 3: Dividend Policy and Shareholder Returns - The company plans to maintain a cash dividend and share buyback strategy, with a projected dividend payout ratio of 55% for the full year of 2024, and cumulative dividends since listing nearing 35 billion yuan [2] - A share buyback plan of 1 billion yuan is set for 2025 to enhance investor satisfaction, while the company will continue to balance development needs and shareholder interests [2]

Core Viewpoint - Weichai Power Co., Ltd. has announced its 2024 dividend distribution plan, which includes a cash dividend of RMB 3.47 per 10 shares (tax included) for shareholders, while shares held in the company's repurchase account will not participate in the dividend distribution [1][4][5]. Dividend Distribution Plan - The total share capital of the company is 8,715,671,296 shares, from which 9,041,375 shares held in the repurchase account are excluded, resulting in 8,706,629,921 shares eligible for dividend distribution [1][4]. - The actual cash dividend amount for A shares is calculated as RMB 2,346,965,702.58, based on the formula: (6,772,631,296 shares - 9,041,375 shares) × 0.347 RMB/share [2][9]. - The cash dividend per share, after considering the total share capital, is RMB 0.3465367 (tax included) [2][9]. Tax Implications - For A-share shareholders who are QFII and RQFII, the actual cash dividend after tax is RMB 3.123 per 10 shares [5][7]. - Individual A-share shareholders holding shares for more than one year are exempt from personal income tax, while those holding for one year or less will have taxes calculated upon transfer of shares [6][7]. Record and Ex-Dividend Dates - The record date for dividend distribution is set for July 24, 2025, after the close of trading on the Shenzhen Stock Exchange [8]. Consultation Information - For inquiries regarding the dividend distribution, shareholders can contact the Capital Operations Department of Weichai Power Co., Ltd. at the provided address and phone numbers [10].

证券代码：000338 证券简称：潍柴动力 公告编号：2025-054 潍柴动力股份有限公司关于 2024 年度分红派息实施后调整 回购公司部分 A 股股份价格上限的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 部分A股股份的报告书》。 二、2024年度分红派息方案实施情况 公司2024年度分红派息方案为：本公司现有总股本8,715,671,296股， 扣除本公司通过回购专用证券账户持有的股份9,041,375股，对本公司现有 可 予 分 配 股 份 8,706,629,921 股 （ 其 中 A 股 6,763,589,921 股 ， H 股 1,943,040,000股）之股东，每10股派发现金红利人民币3.47元（含税）， 不送红股、不以公积金转增股本。 1．调整前回购价格上限：不超过人民币23.57元/股 2．调整后回购价格上限：不超过人民币23.22元/股 3．回购价格上限调整生效日期：2025年7月25日（2024年度分红派息 除权除息日） 一、回购公司部分A股股份事项概述 潍柴动力股份有限公司（下称"公司"或"本公司"）于2025年4月 ...

2024 年度 A 股分红派息实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 证券代码：000338 证券简称：潍柴动力 公告编号：2025-053 潍柴动力股份有限公司 特别提示： 潍柴动力股份有限公司（下称"公司"或"本公司"）2024 年 度分红派息方案披露至实施期间，实施了部分 A 股股份回购。根据 《中华人民共和国公司法》（下称"《公司法》"）《深圳证券交易 所上市公司自律监管指引第 9 号——回购股份》等相关规定，本公司 通过回购专用证券账户持有的 9,041,375 股 A 股股份不享有利润分配 的权利。本公司本次分红派息按"分配比例不变"原则对分配总额进 行相应调整，即以现有总股本 8,715,671,296 股扣除回购专用证券账 户中已回购股份 9,041,375 股后的可予分配股份 8,706,629,921 股（其 中 A 股 6,763,589,921 股，H 股 1,943,040,000 股）为基数，每 10 股 派发现金红利人民币 3.47 元（含税），不送红股、不以公积金转增 股本。 因本公司回购专用证券账户中的 A ...

Core Viewpoint - The rapid growth of the new energy heavy truck industry, with Shandong Heavy Industry Group reporting a 242% year-on-year increase in new energy heavy truck sales to 24,000 units in the first half of 2025, highlights the company's strong technological foundation and product matrix in the new energy sector [1]. Group 1: Technological Advancements - Shandong Heavy Industry's Weichai Power provides comprehensive power solutions for new energy vehicles, with over 100 battery products ranging from 2-1000 kWh, more than 30 motor products with power from 60-600 kW, and over 20 electronic control products rated at 100-350 kW [1]. - The company has developed a robust product matrix covering all scenarios and technical routes, including electric, hybrid, and hydrogen fuel technologies, with China National Heavy Duty Truck achieving full series coverage in new energy products [2]. - Shaanxi Automobile's revolutionary new energy 2.0 products feature fully autonomous three-electric systems, setting new industry benchmarks for vehicle economy and reliability [4]. Group 2: Market Performance and Expansion - Shandong Heavy Industry has successfully addressed the core pain points of range anxiety in new energy commercial vehicles, achieving significant weight reduction and improved range through innovations like the dual-motor two-speed electric drive bridge [6]. - The company's new energy products are gaining traction both domestically and internationally, with notable achievements including the delivery of 200 new energy light trucks in Shanghai and a record order of 895 pure electric buses to Chile [6]. - The establishment of a 50 GWh new energy power industry park in Weichai (Yantai) signifies the company's commitment to advancing its new energy business and driving a green transformation in the industry [7].

Group 1 - The domestic heavy truck market has shown overall growth with a cumulative sales volume of 539,000 units in the first half of the year, representing a year-on-year increase of approximately 7% [1] - The sales of new energy heavy trucks reached 79,200 units in the first half of the year, marking a significant year-on-year growth of 186%, with a market penetration rate of 26.03% in June, setting a new monthly record [1][5] - The heavy truck market is experiencing a continuous increase in prosperity, with June sales reaching 92,000 units, a year-on-year growth of 29%, and actual registrations at 64,000 units, up 36% year-on-year [2] Group 2 - The "old-for-new" policy for trucks has been extended to 2025, including the replacement of National IV standard heavy trucks, which is expected to drive significant replacement activity in the market [3] - The sales of natural gas heavy trucks have declined by 16% year-on-year in the first five months, with June sales dropping below 13,000 units due to various market pressures [3] - The inclusion of natural gas heavy trucks in the "old-for-new" policy is expected to stimulate market activity and facilitate the replacement of older vehicles [4] Group 3 - The new energy heavy truck market is experiencing rapid growth, with significant improvements in sales and market penetration, driven by policy support and technological innovation [5][6] - Companies are focusing on the development of new energy ecosystems as a new profit growth point, adapting to stricter environmental requirements and evolving energy structures [6] - The heavy truck market is projected to exceed one million units in total sales by 2025, with estimates suggesting a total of 1.05 million units sold [4]