（文章来源：证券日报） 证券日报网讯 2月27日，海马汽车在互动平台回答投资者提问时表示，公司始终秉持开放合作的态度， 积极与各方伙伴沟通寻求共赢机会。若有达到披露标准的合作事项，公司将严格按照规定及时履行信息 披露义务。 ...

（编辑 王雪儿） 证券日报网讯 2月27日，海马汽车在互动平台回答投资者提问时表示，当前，公司管理层正全力以赴推 进各项经营规划，力求以扎实的业绩回报投资者。公司2026年经营计划将在2025年年度报告中披露。 ...

（文章来源：证券日报） 证券日报网讯 2月26日，海马汽车在互动平台回答投资者提问时表示，截至2026年2月13日，公司股东 人数是182804户。 ...

格隆汇2月25日丨海马汽车(000572.SZ)在互动平台表示，公司目前没有无人驾驶出租车相关计划；公司 2026年经营计划将在2025年年度报告中披露，敬请关注；公司作为海南唯一整车企业，将积极抓住封关 机遇，助力产业发展并规划自身布局。 ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 财经频道更多独家策划、专家专栏，免费查阅>>责任编辑：十八 针对上述提问，海马汽车回应称："感谢您的提问。公司目前没有无人驾驶出租车相关计划；公司2026 年经营计划将在2025年年度报告中披露，敬请关注；公司作为海南唯一整车企业，将积极抓住封关机 遇，助力产业发展并规划自身布局。谢谢！" 有投资者在互动平台向海马汽车提问："海马汽车有计划在海南省内投放'无人驾驶出租车吗'？类似'小 马智行'如果有目前在什么阶段？什么时候开始投放？投放多少？2026年海马汽车有什么发展规划？ 2025年12月8日海南岛封关后贵司没有任何积极发的举动？股票持续下跌哦？" ...

Group 1 - The core viewpoint of the article highlights the growing interest in hydrogen fuel cell vehicles and the company's collaboration with Toyota in this sector [2][3] - The company, Haima Automobile, has launched 50 units of its hydrogen energy vehicle model 7X-H in Hainan for demonstration operations [2] - The cumulative mileage of these vehicles has exceeded 2 million kilometers, validating the reliability and safety of the product, although it is still in the demonstration phase [2]

Core Insights - The article discusses the extreme cold weather testing conducted by the Shaanxi Fast Group in Heilongjiang, China, focusing on the performance of their intelligent products in harsh winter conditions [2][5][9] Group 1: Testing Overview - The testing period lasted from December of the previous year to February, with flexibility in timing based on testing needs and data results [2] - The testing site was in Heilongjiang, with a focus on various road conditions including highways and closed test tracks [2] - The core products tested included AMT transmissions, automatic transmissions for special vehicles, hydraulic retarders, electric steering systems, and electronic braking systems (EBS) [2] Group 2: Challenges Faced - Engineers faced numerous challenges, including low-temperature cold start performance, sensor responsiveness, and fluid viscosity changes affecting system performance [3][4] - A significant incident involved a test vehicle experiencing multiple sensor failures, requiring on-site repairs in extreme conditions [3] - Another challenge was the freezing of the engine's oil lines, which was addressed using a steam heater to thaw the system [4] Group 3: Performance Results - The overall performance of the intelligent products met the expected validation goals, revealing issues that could not be replicated in laboratory conditions [5][6] - The EBS system showed remarkable reliability and responsiveness in cold conditions, maintaining performance similar to that in normal temperatures [6] - The AMT system demonstrated improved low-temperature shifting success rates due to refined software calibration [6] Group 4: System Integration and Collaboration - The testing highlighted new challenges in system integration, particularly when multiple intelligent products were used together [6] - Solutions were developed for managing braking forces to prevent wheel lock-up and maintain vehicle stability [6] Group 5: Technological Innovations - The R&D team introduced innovative solutions to address low-temperature challenges, including a comprehensive low-temperature cold start strategy for AMT [7] - The EBS system was optimized for reliability and responsiveness across various road conditions [7] Group 6: Data Utilization and Industry Impact - The testing generated vast amounts of data, which will drive software iterations and hardware design optimizations for future products [8] - The successful completion of the cold weather tests positions the company as a leader in the commercial vehicle parts industry, setting a benchmark for technological advancement [9]

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [6] Core Insights - The automotive market is experiencing a significant shift with new energy vehicle brands showing varied sales performance, highlighting the advantages of brand recognition [1][22] - Over twenty provinces and cities in China have introduced subsidy policies to stabilize the automotive market amid downward pressure [2][26] - Internationally, Canada is opening up to cooperation with Chinese electric vehicle manufacturers, indicating a trend towards collaborative ventures in the automotive sector [3][42] Summary by Sections Market Overview - In January 2026, several new energy vehicle brands reported their delivery volumes, with significant year-on-year growth for some, such as Hongmeng Zhixing, which delivered 57,915 vehicles, a 65.6% increase [1][20] - The overall market is characterized by a "year-on-year increase, month-on-month decrease" trend, with many companies launching attractive financing options to stimulate demand [22][23] Policy Developments - The Chinese government has rolled out various consumer incentives, including trade-in and purchase subsidies, to support automotive consumption [2][26] - The Canadian government is set to announce new fuel efficiency standards and reintroduce purchase subsidies for electric vehicles, reflecting a shift in policy towards supporting the automotive industry [3][42] Investment Recommendations - The report suggests focusing on companies with strong brand recognition and systematic capabilities, as they are likely to present long-term investment opportunities [4] - The anticipated positive impact of government policies on the automotive market is highlighted, along with the potential for Chinese automotive companies to expand internationally [4]

Investment Rating - The industry investment rating is "Positive" [2] Core Insights - The report highlights the official release of the world's first mandatory safety standard for automotive door handles, which will take effect from January 1, 2027. This standard emphasizes safety in design and functionality, requiring independent mechanical release features for each side door and specific structural strength requirements [21][22] - The Ministry of Industry and Information Technology (MIIT) is accelerating the development of key standards related to driving automation and collision safety, aiming to enhance the safety and quality of the automotive industry [21] - The A-share automotive sector outperformed the broader market, with a weekly increase of 0.32%, while the CSI 300 index fell by 1.33% [3][12] Market Performance - The automotive sector's performance ranked 12th among A-share industries, with notable gains in the passenger vehicle segment led by companies like Seres and Haima [3][4] - The commercial vehicle segment saw significant increases, particularly for Jinlong Automobile and Foton Motor, while the automotive parts sector also experienced growth, with leading companies including Xingmin Zhitong and Yinlun [6][19][20] Key Industry News - Strategic partnerships and technological advancements are highlighted, such as the collaboration between Pony.ai and Moore Threads for L4 autonomous driving technology [21] - Changan Automobile's introduction of sodium-ion batteries in collaboration with CATL, aiming for multiple passenger vehicle launches this year [21] - The launch of a vehicle replacement subsidy program in Shanghai, offering an 8% subsidy for purchasing new energy vehicles [21] Upstream Data Tracking - The report includes tracking of key material prices relevant to the automotive industry, such as steel, aluminum, and lithium carbonate, which are critical for production costs [24][25]

Group 1 - Intercontinental Oil and Gas focuses on oil exploration and development, with significant operations in Kazakhstan and the Malacca Strait, benefiting from the Hainan Free Trade Port's zero-tariff policy which will reduce equipment import costs and enhance cross-border energy trade efficiency, with a projected 30% increase in trade scale over the next three years [1][34] - Jinpan Technology, a leading manufacturer of high-end power distribution equipment, will benefit from reduced raw material costs and a 15% corporate income tax reduction, enhancing profitability and enabling expansion into the ASEAN power equipment market [2][35] - Hainan Airlines, a major player in the aviation sector, expects a significant increase in passenger traffic due to the visa-free policy for 86 countries and duty-free upgrades, with projected passenger volume exceeding 80 million by 2026 [3][36] Group 2 - Junda Co., a top photovoltaic cell manufacturer, anticipates growth in its solar business due to reduced equipment costs and tax incentives, with plans to participate in Hainan's integrated wind and solar storage projects [4][37] - Caesar Travel, a comprehensive tourism service provider, expects a doubling of cross-border tourism business and a significant increase in tourist arrivals, with projections of 180 million visitors by 2026 [5][38] - Xinda A, a diversified company focusing on motorcycle manufacturing and coal mining, aims to leverage the zero-tariff policy to enhance profitability and expand into the electric vehicle market [6][39] Group 3 - ST Huluwawa, a leading pediatric pharmaceutical company, will benefit from reduced raw material costs and tax incentives, with plans to expand into the ASEAN pharmaceutical market [8][40] - Hainan Ruize, a construction industry leader, anticipates a surge in infrastructure demand with projected investments exceeding 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [9][42] - Hainan Airport, a key player in airport operations, expects a doubling of cargo business and significant passenger growth due to the visa-free policy and duty-free upgrades [10][43] Group 4 - Hainan Development, an investment platform, anticipates a substantial increase in duty-free sales, projected to exceed 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [11][45] - Hainan Highway, a major highway operator, expects a significant increase in traffic volume, projected to exceed 200 million vehicles by 2026, benefiting from the integration of tourism and real estate [20][56] - Hainan Rubber, the world's largest natural rubber producer, aims to expand its market presence in ASEAN due to favorable trade policies and tax incentives [21][57]