Core Viewpoint - Ankai Bus (000868.SZ) announced that its major shareholder, Anhui Investment Group, plans to reduce its stake in the company by selling up to 9.3951 million shares, which represents no more than 1% of the total share capital [1] Summary by Sections - **Shareholder Information** - Anhui Investment Group holds 59,850,231 shares, accounting for 6.37% of Ankai Bus's total share capital [1] - **Reduction Plan** - The reduction plan will be executed through centralized bidding within 90 natural days after the announcement, starting 15 trading days from the disclosure date [1]

Group 1 - Ankai Bus announced a share reduction plan by its major shareholder, Anhui Investment Group, which holds approximately 59.85 million shares (6.37% of total shares) [1] - The shareholder plans to reduce up to 9.3951 million shares within 90 natural days after the disclosure of the reduction plan [1] - For the first half of 2025, Ankai Bus's revenue composition is entirely from the manufacturing sector, accounting for 100% [1] Group 2 - Ankai Bus has a market capitalization of 5.1 billion yuan [2]

安徽安凯汽车股份有限公司 关于持股 5%以上股东减持计划的预披露公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 特别提示： 安徽安凯汽车股份有限公司（以下简称"公司"）于近日收到公司持股 5% 以上股东安徽省投资集团控股有限公司（以下简称"省投资集团"）《关于实施 安凯客车股份减持计划的告知函》，省投资集团持有公司 59,850,231 股（占公 司总股本的 6.37%），其计划自本次减持计划预披露公告之日起 15 个交易日后 的 90 个自然日内，以集中竞价方式减持本公司股份不超过 939.51 万股（即不超 过公司总股本的 1%）。现将有关情况公告如下： 证券代码：000868 证券简称：安凯客车 公告编号：2025-050 一、股东的基本情况 1、股东名称 本次计划减持股东名称为安徽省投资集团控股有限公司。 2、股东持股数量及比例 截至本公告日，省投资集团持有本公司股份总数量 59,850,231 股，占公司 总股本的比例为 6.37%，为公司持股 5%以上股东。 二、本次减持计划的主要内容 1、减持原因：经 ...

人民财讯11月5日电，安凯客车（000868）11月5日公告，持股6.37%的股东安徽省投资集团控股有限公 司(简称"省投资集团")计划以集中竞价方式减持本公司股份不超过939.51万股(即不超过公司总股本的 1%)。 ...

Core Viewpoint - The announcement indicates that the major shareholder, Provincial Investment Group, plans to reduce its stake in Ankai Bus Co., Ltd. due to operational needs, without affecting the company's control [1] Group 1 - Provincial Investment Group holds 59.8502 million shares, representing 6.37% of the total share capital of Ankai Bus [1] - The planned reduction involves selling up to 9.3951 million shares, which is no more than 1% of the total share capital, through centralized bidding within 90 days after the pre-disclosure announcement [1] - The shares to be sold are sourced from a previous agreement transfer, and the reduction will not lead to a change in the company's control [1]

Market Overview - The commercial vehicle sector experienced a decline of 0.51% on November 5, with Hanma Technology leading the drop [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Stock Performance - Notable gainers in the commercial vehicle sector included: - Zhongshun Vehicles (301039) with a closing price of 9.75, up 4.50% and a trading volume of 237,900 shares [1] - Jinlong Automobile (600686) closed at 15.95, up 2.44% with a trading volume of 385,000 shares [1] - Shuguang Co. (600303) closed at 3.96, up 2.06% with a trading volume of 250,100 shares [1] - Conversely, Hanma Technology (600375) led the decline with a closing price of 7.63, down 3.05% and a trading volume of 768,700 shares [2] - Other notable decliners included: - Jianghuai Automobile (600418) down 2.15% to 47.70 [2] - Zhongtong Bus (000957) down 0.60% to 11.67 [2] Capital Flow - The commercial vehicle sector saw a net outflow of 287 million yuan from institutional investors, while retail investors contributed a net inflow of 286 million yuan [2] - The sector's overall capital flow indicated a mixed sentiment among different investor types [2] Detailed Capital Flow Analysis - Key stocks and their capital flow: - Jinlong Automobile (600686) had a net inflow of 72.80 million yuan from institutional investors, while retail investors saw a net outflow of 74.83 million yuan [3] - Hanma Technology (600375) experienced a net outflow of 22.53 million yuan from institutional investors [3] - Other stocks like Foton Motor (600166) and Dongfeng Motor (600006) also showed significant net outflows from institutional investors [3]

Core Viewpoint - The commercial vehicle sector is experiencing a significant performance surge in Q3 2025, with major companies reporting substantial revenue and profit increases after a challenging first half of the year [1][2]. Group 1: Commercial Vehicle Performance - Ten listed commercial vehicle companies reported total revenue exceeding 124.4 billion yuan and net profit over 5.8 billion yuan in Q3 2025 [1]. - Weichai Power led the industry with revenue of 57.42 billion yuan and a net profit of 3.23 billion yuan [1]. - Eighty percent of commercial vehicle companies saw significant increases in both revenue and net profit in Q3 compared to the previous half [1]. Group 2: Heavy Truck Sales Growth - Heavy truck sales in Q3 showed remarkable growth, with monthly sales of 84,900 units in July, 88,000 units in August, and 105,000 units in September, representing year-on-year increases of 45.6%, 41%, and 82% respectively [1][2]. - Major heavy truck manufacturers, including FAW Jiefang and Foton Motor, reported revenues exceeding 15 billion yuan and net profits over 300 million yuan in Q3 [2]. Group 3: Policy and Market Drivers - Government policies supporting the commercial vehicle sector, including subsidies for scrapping old vehicles and promoting natural gas and "National IV" vehicles, have stimulated market growth [3][4]. - The penetration rate of new energy vehicles in the commercial vehicle sector is rapidly increasing, contributing to market expansion, with 24,000 new energy heavy trucks sold in September alone, marking a 184% year-on-year increase for the first nine months [3]. Group 4: Bus Sector Performance - Bus companies also reported significant revenue increases, with Yutong Bus achieving 10.24 billion yuan in revenue and a net profit of 1.357 billion yuan in Q3, reflecting a 32.3% and 78.9% year-on-year increase respectively [5][6]. - King Long Motor reported a revenue of 6.002 billion yuan and a net profit increase of 1211% in Q3, driven by increased sales and enhanced export business [7].

Core Points - Ankai Bus (000868) reported that as of October 31, 2025, the total number of shareholders is 49,343 [1]

Core Viewpoint - Ankai Bus has shown fluctuations in stock performance, with a recent increase of 2.06% in share price, while the company has experienced a significant year-on-year revenue growth but a decline in net profit [1][2]. Group 1: Stock Performance - As of November 3, Ankai Bus's stock price reached 5.44 CNY per share, with a market capitalization of 5.11 billion CNY [1]. - The stock has increased by 6.67% year-to-date, but has seen a decline of 2.33% over the last five trading days and a drop of 6.69% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Ankai Bus reported a revenue of 2.446 billion CNY, reflecting a year-on-year growth of 44.37% [2]. - The company recorded a net profit attributable to shareholders of -8.658 million CNY, which is a decrease of 61.56% compared to the previous year [2]. Group 3: Shareholder Information - As of October 20, the number of shareholders for Ankai Bus was 48,400, a decrease of 1.29% from the previous period [2]. - The average number of circulating shares per shareholder increased by 1.30% to 15,140 shares [2]. - The company has distributed a total of 154 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3].

Core Insights - The commercial vehicle sector saw a rise of 0.72% on October 31, with Foton Motor leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Commercial Vehicle Sector Performance - Foton Motor (600166) closed at 3.00, up 4.17% with a trading volume of 3.89 million shares and a transaction value of 1.183 billion [1] - China National Heavy Duty Truck Group (000951) closed at 18.14, up 3.78% with a trading volume of 312,300 shares and a transaction value of 564 million [1] - King Long Motor (600686) closed at 15.14, up 2.64% with a trading volume of 808,000 shares and a transaction value of 1.253 billion [1] - Other notable performances include Shuguang Co. (600303) up 1.86% and FAW Jiefang (000800) up 1.27% [1] Fund Flow Analysis - The commercial vehicle sector experienced a net outflow of 174 million from institutional investors and 167 million from speculative funds, while retail investors saw a net inflow of 342 million [2][3] - Yutong Bus (600066) had a significant net outflow of 91.16 million from institutional investors, while retail investors contributed a net inflow of 89.92 million [3] - Jianghuai Automobile (600418) saw a net inflow of 51.86 million from institutional investors, but a net outflow of 31.11 million from retail investors [3]