以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 一汽解放回复：尊敬的投资者您好，公司股价表现受宏观环境、行业周期、市场情绪等多重因素综合影 响。公司高度重视市值管理工作，已建立长效机制，通过优化产品结构、强化成本管控等举措改善经营 质量，持续加强与市场的沟通，努力提升核心竞争力与市场认同度。感谢您对公司的关注。 证券之星消息，一汽解放(000800)01月14日在投资者关系平台上答复投资者关心的问题。 投资者提问：今天沪指创10年历史新高。而贵公司目前连连去年最低点的股价都没收复，今天在板块仍 然排名倒数，贵公司资本运作部和市值管理相关责任人究竟有没有能力做好本职工作？连续五年都做不 好，为何还不换人管理？ ...

Core Viewpoint - The company has made significant advancements in hydrogen energy vehicles, achieving batch sales and demonstrating operational capabilities in major urban areas, despite previous investor concerns regarding R&D expenditures and losses [2]. Group 1: Company Developments - The company has successfully achieved batch sales of hydrogen heavy trucks in five major urban clusters and hydrogen-rich regions [2]. - The company has completed the demonstration operation of China's first liquid hydrogen heavy truck, with a range exceeding 1000 kilometers, setting a domestic record for endurance [2]. - The self-developed heavy-duty hydrogen engine has been demonstrated in operations exceeding 20,000 kilometers [2]. Group 2: Future Plans - The company plans to continue integrating research, operation, and manufacturing in the hydrogen energy vehicle sector [2].

Group 1 - The commercial vehicle sector experienced a decline of 0.83% on January 14, with Jinlong Automobile leading the drop [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] - Key stocks in the commercial vehicle sector showed varying performance, with Jinlong Automobile closing at 18.20, down 2.41% [1] Group 2 - The net inflow of main funds in the commercial vehicle sector was 126 million yuan, while retail investors saw a net outflow of 149 million yuan [1] - Jianghuai Automobile had a significant net inflow of 65.08 million yuan from main funds, but a net outflow of 5.36 million yuan from retail investors [2] - Jinlong Automobile also saw a net inflow of 40.11 million yuan from main funds, with a notable net outflow of 36.38 million yuan from retail investors [2]

Core Viewpoint - The heavy truck industry in China experienced a significant increase in influence and activity in December 2025, with major brands showcasing their achievements and future goals through various events and partnerships [4][6][20]. Group 1: Heavy Truck Influence Index - The "Heavy Truck First Influence Index" total score for nine major domestic heavy truck brands reached 2320 points in December 2025, an increase of 4.5% from November and 2.2% year-on-year [1][2]. - The index reflects a positive end to the year and sets an optimistic tone for the upcoming year [4]. Group 2: Key Events and Achievements - FAW Jiefang held multiple significant events, including participation in the 19th International Auto Exhibition in Colombia, where they secured 60 intent orders, and the launch of their 2026 Global Partner Conference in Chengdu, unveiling new products and setting ambitious sales targets for 2026 [9][10]. - China National Heavy Duty Truck Group (CNHTC) signed a strategic agreement for 500 heavy trucks and hosted their 2026 Partner Conference, aiming for a sales target of 340,000 units in 2026 [12]. - Dongfeng Commercial Vehicle's 2026 Partner Conference showcased nearly 60 new models and set a sales target of 176,000 units for 2026, with a notable increase in their new energy vehicle sales [14]. Group 3: Rankings and Market Performance - The December 2025 "Heavy Truck First Influence Index" rankings were led by FAW Jiefang with a total score of 618, followed by CNHTC with 494, and Dongfeng Commercial Vehicle with 324 [15]. - Other notable performers included Dongfeng Liuzhou and Shaanxi Automobile, both of which demonstrated strong market presence and growth [16][18]. Group 4: Industry Trends and Future Outlook - The heavy truck market in December highlighted the competitive dynamics among leading brands, with a focus on technological innovation, market expansion, and enhanced user services [20]. - The industry is expected to accelerate towards efficiency, intelligence, and sustainability in the coming years, driven by the competitive strategies of these major players [20].

Group 1 - The State Intellectual Property Office of China has granted a patent to China First Automobile Works Co., Ltd. for a "method, device, equipment, and medium for detecting unfastened seat belts," with the authorization announcement number CN119037332B and an application date of September 2024 [1] - China First Automobile Works Co., Ltd. was established in 2011, located in Changchun, and primarily engages in the automotive manufacturing industry, with a registered capital of 7.8 billion RMB [1] - The company has invested in 31 enterprises, participated in 5,000 bidding projects, holds 264 trademark registrations, and has 5,000 patent registrations, along with 385 administrative licenses [1] Group 2 - FAW (Nanjing) Technology Development Co., Ltd. was established in 2020, located in Nanjing, and primarily focuses on software and information technology services, with a registered capital of 50 million RMB [1] - The company has participated in 18 bidding projects, holds 9 trademark registrations, has 543 patent registrations, and possesses 6 administrative licenses [1]

Group 1 - The commercial vehicle sector experienced a decline of 0.69% on January 12, with Yutong Bus leading the drop [1][3] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] - Major stocks in the commercial vehicle sector showed varied performance, with Jinlong Automobile increasing by 2.51% and Yutong Bus decreasing by 2.65% [1][3] Group 2 - The net outflow of main funds in the commercial vehicle sector was 505 million yuan, while retail investors saw a net inflow of 314 million yuan [3][4] - The trading volume for major stocks included 248,600 shares for Yutong Bus and 578,000 shares for Jianghuai Automobile, with transaction amounts of 784 million yuan and 2.851 billion yuan respectively [3][4] - The fund flow analysis indicated that retail investors had a significant net inflow in several stocks, including Jiangling Motors, which saw a net inflow of 11.05% [4]

Core Insights - The report focuses on the market demand and investment planning for the cold chain vehicle industry in China, highlighting key players and their revenue performance [1][12]. Group 1: Industry Overview - The cold chain vehicle industry in China has limited companies primarily engaged in this sector, but the supply chain is extensive [1]. - Major listed companies in the cold chain vehicle manufacturing segment include CIMC Vehicles, Foton Motor, Dongfeng Motor, FAW Jiefang, and China National Heavy Duty Truck [1]. Group 2: Company Summaries - Foton Motor has the highest registered capital and the most bidding information among cold chain vehicle companies [12]. - Jiangling Motors, established the earliest, focuses on light commercial vehicles [12]. - CIMC Vehicles leads in semi-trailer production globally [14]. Group 3: Revenue Performance - In the first three quarters of 2025, Foton Motor reported a revenue of 454.49 billion, while FAW Jiefang and Jianghuai Automobile reported revenues of 439.96 billion and 308.73 billion, respectively [17]. - CIMC Vehicles achieved the highest gross margin at 15.17% among the listed companies [14]. Group 4: Product and Business Strategies - Foton Motor is advancing pure electric refrigerated vehicles and has delivered its first batch of cold chain vehicles [18]. - FAW Jiefang focuses on long-distance cold chain vehicles, promoting the JH6 model [18]. - Jianghuai Automobile is developing a range of refrigerated vehicles to cover various lengths and applications [18]. - CIMC Vehicles is exploring the development of new energy semi-trailers for the North American market [18].

Core Viewpoint - The "Light Truck First Influence Index" for December 2025 shows a total score of 1408, reflecting a 4.3% increase from November 2025 but a 2.3% decrease compared to December 2024 [1]. Group 1: Influence Index Rankings - The top three brands in the "Light Truck First Influence Index" for December 2025 are Jianghuai 1 Card (298 points), Dongfeng Light Truck (261 points), and FAW Jiefang Light Truck (206 points) [2][12]. - Jianghuai 1 Card maintains its position as the leader, while Jiangling Light Truck and YuTong Light Truck have improved their rankings to fifth and ninth, respectively [12][17]. Group 2: Key Events and Developments - December 2025 saw significant industry events, including annual meetings and product launches, contributing to the increase in the influence index [3][19]. - Jianghuai 1 Card's annual meeting highlighted its success in the new energy light truck sector, with sales of high-end models exceeding 20,000 units and a 20% increase in wide-body model sales [6]. - Dongfeng Light Truck's annual meeting focused on long-term development and improving operational quality [8]. - FAW Jiefang's global partner conference emphasized deepening global cooperation and enhancing brand narrative [9]. - China National Heavy Duty Truck launched two new models aimed at addressing operational cost and range anxiety issues [9][17]. - YuTong Light Truck delivered multiple new energy refrigerated trucks, showcasing its commitment to smart and efficient cold chain logistics [11][12]. Group 3: Market Trends and Insights - The overall market for light trucks is experiencing a transformation, with a focus on new energy vehicles and digital marketing strategies [6][19]. - The competitive landscape remains stable, with established brands maintaining their positions while new entrants and innovations are emerging [12][19].

Investment Rating - The industry investment rating is "Positive" [2] Core Insights - The report highlights that in 2025, over 11.5 million vehicles will be replaced under the vehicle trade-in program, leading to a total retail of 23.744 million passenger cars, with approximately 54% being new energy vehicles [20][3] - The report indicates a projected growth in the automotive market, with a U-shaped sales trend expected for passenger vehicles in 2026, maintaining overall sales levels similar to 2025 [20] - Key companies to watch include BYD, Geely, Great Wall Motors, and others in the passenger vehicle sector, as well as major players in commercial vehicles and auto parts [3][20] Industry Performance - The A-share automotive sector underperformed the market, with a weekly increase of 2.53% compared to the 2.79% rise in the CSI 300 index, ranking 24th among A-share industries [3][9] - The report notes that the passenger vehicle segment saw a 3.8% year-on-year increase in retail sales, while new energy vehicles experienced a 17.6% growth [20] Key Industry News - The Ministry of Commerce announced that the vehicle trade-in program will exceed 11.5 million vehicles in 2025, contributing to over 1.6 trillion yuan in new car sales [20] - Geely received the largest L3 autonomous driving test license in China, covering an area of 9,224 square kilometers [20] - Baidu's autonomous driving platform, "萝卜快跑," obtained the first full unmanned testing license in Dubai, paving the way for commercial operations [20] Upstream Data Tracking - The report includes tracking of key material prices such as steel, aluminum, and lithium carbonate, which are crucial for automotive manufacturing [23][24]

Core Viewpoint - The report highlights the growth of industrial enterprises in Jilin Province, indicating a positive trend in the industrial sector with a year-on-year increase in the number of enterprises [1] Group 1: Company Information - Listed companies mentioned include Liyuan Co., Ltd. (002501), ST Jinhong (000669), Changchun Gas (600333), Quanyuan Spring (600189), Tonghua Jinma (000766), Xidian Pharmaceutical (301130), Jilin Carbon Valley (836077), Zhongyan Co., Ltd. (688716), Zhiyuan New Energy (300985), FAW Jiefang (000800), Jilin Expressway (601518), and Jilin Electric Power (000875) [1] Group 2: Industry Statistics - As of January-November 2025, the number of industrial enterprises in Jilin Province reached 3,539, an increase of 142 compared to the same period last year, representing a growth rate of 4.18% [1] - The proportion of Jilin's industrial enterprises accounts for 0.67% of the national total [1] Group 3: Research and Consulting - Zhiyan Consulting is identified as a leading industry consulting firm in China, specializing in deep industry research reports, business plans, feasibility studies, and customized services [1] - The firm emphasizes its commitment to providing comprehensive industry solutions to empower investment decisions [1]