Core Viewpoint - The export performance of China's bus industry in the first four months of 2025 shows significant growth, with a total of 21,447 buses exported, marking a year-on-year increase of 30.81% compared to the same period last year [1][12]. Group 1: Overall Export Performance - In April 2025, a total of 5,736 buses were exported, achieving a year-on-year growth of 26.71% [1][5]. - Since January 2024, China's bus exports have experienced 16 consecutive months of year-on-year growth, indicating a sustained strong market momentum [1][5]. Group 2: Segment Performance - In April 2025, the export figures for different bus types were as follows: large buses 3,218 (down 1.8%), medium buses 965 (up 40.67%), and light buses 1,553 (up 175.35%) [5][6]. - The significant increase in light bus exports is attributed to a low base in the previous year, where only 564 units were exported [5][6]. Group 3: Functional Attributes - In April 2025, the export volumes by function were: seat buses 3,345 (up 18.03%), public buses 1,751 (up 9.44%), school buses 51 (down 30.14%), and other buses 589 (up 2,845%) [7][9]. - The seat bus segment continues to show consistent growth, while public buses have rebounded after a brief decline earlier in the year [7][8]. Group 4: Company Performance - The top five companies in bus exports from January to April 2025 were Xiamen Golden Dragon, Xiamen King Long, Yutong, Zhongtong, and Suzhou King Long Haige, with Xiamen Golden Dragon leading the market [12][13]. - Xiamen Golden Dragon and Xiamen King Long both exported around 3,000 units, with a narrowing gap in their export volumes [12][13]. Group 5: Market Dynamics - The competition among the top companies is intensifying, with notable performances from Ankai and BYD, both of which have shown significant year-on-year growth [12][15]. - The overall bus export market is characterized by a "steady improvement with structural differentiation," indicating varying performance across different segments [10][31].

证券代码：000868 证券简称：安凯客车 公告编号：2025-024 安徽安凯汽车股份有限公司 关于 2025 年 4 月份产销情况的自愿性信息披露公告 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。 截至 2025 年 4 月份产销快报数据如下： 单位：辆 | 品 目 | 2025 | 年 | 4 月 | | 本年累计 | 累计数量较去年同期 增减比率 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 产量 | | | | 680 | 2495 | | 25.25% | | 其中：大型客车 | | | | 486 | 1186 | | 125.05% | | 中型客车 | | | | 123 | 899 | | 28.61% | | 轻型客车 | | | | 71 | 410 | | -46.48% | | 销量 | | | | 606 | 2200 | | 20.68% | | 其中：大型客车 | | | | 288 | 872 | | 68.67% | ...

Group 1 - The core point of the article is that Ankai Bus (000868) has reported production and sales figures for the year, indicating a positive growth trend in both areas [1] - As of April 2025, the company's production reached 680 units, with a cumulative production of 2,495 units for the year, reflecting a year-on-year increase of 25.25% [1] - In April, the sales volume was 606 units, with a cumulative sales figure of 2,200 units for the year, showing a year-on-year growth of 20.68% [1]

Group 1 - The core viewpoint of the article highlights that Ankai Bus (000868) reported a revenue of 658 million yuan in the first quarter of 2025, reflecting a year-on-year growth of 14.84% [1] - The net profit for the same period was 4.37 million yuan, which represents a year-on-year decline of 9.95% [1]

Financial Performance - The company's operating revenue for Q1 2025 was ¥657,600,604.53, representing a 14.84% increase compared to ¥572,599,098.31 in the same period last year[5] - Net profit attributable to shareholders decreased by 9.95% to ¥4,370,290.74 from ¥4,852,943.29 year-on-year[5] - The company reported a total liability of ¥2,886,447,230.93, an increase from ¥2,712,936,633.58 year-over-year[17] - Total operating costs amounted to ¥678,900,379.05, up 14.00% from ¥595,835,275.74 in the prior period[19] - Net profit for the current period was ¥1,586,682.51, representing a growth of 15.03% from ¥1,379,771.75 in the previous period[20] - The company’s total comprehensive income for the current period was ¥1,571,290.30, compared to ¥1,283,673.84 in the previous period, indicating a significant increase[21] - Basic and diluted earnings per share remained stable at ¥0.01 for both periods[21] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, with a net outflow of ¥45,698,442.10, a 71.14% reduction from the previous year's outflow of ¥158,357,530.82[5] - Cash flow from operating activities increased to ¥714,688,852.39, compared to ¥517,259,102.35 in the previous period, reflecting a growth of 38.1%[21] - The net cash flow from operating activities was -45,698,442.10, an improvement from -158,357,530.82 in the previous period, indicating a reduction in cash outflow[22] - The ending balance of cash and cash equivalents was 372,914,366.37, up from 110,630,630.08 in the prior period, reflecting a stronger liquidity position[23] - Cash inflow from financing activities totaled 50,000,000.00, while cash outflow was 862,494.45, resulting in a net cash flow from financing activities of 49,137,505.55, a significant improvement from -878,970.84[23] - The net increase in cash and cash equivalents was -46,018,564.50, compared to -159,950,836.52 in the previous period, showing a notable reduction in cash depletion[23] Assets and Liabilities - Total assets increased by 4.87% to ¥3,794,381,984.29 compared to ¥3,618,132,655.80 at the end of the previous year[5] - Total current assets increased to RMB 2,734,408,000.47 from RMB 2,545,783,307.54, reflecting a growth of approximately 7.39%[14] - Total liabilities increased, with accounts payable rising to RMB 1,311,051,802.74 from RMB 1,234,086,409.89, reflecting a growth of about 6.22%[15] - Short-term borrowings increased by 50.00% to ¥150,114,583.33, reflecting new bank loans taken during the period[8] - Short-term borrowings rose to RMB 150,114,583.33 from RMB 100,076,388.89, an increase of approximately 49.9%[15] Inventory and Receivables - Inventory rose by 34.51% to ¥308,198,812.22, primarily due to an increase in stock[8] - Accounts receivable increased to RMB 1,055,195,422.77 from RMB 1,012,369,827.51, indicating a rise of about 4.23%[14] - Inventory increased significantly to RMB 308,198,812.22 from RMB 229,123,518.29, representing a growth of approximately 34.5%[14] Other Income and Expenses - Other income decreased by 32.67% to ¥8,906,300.47, mainly due to a reduction in VAT incentives recognized during the period[8] - The company recorded a significant increase in financial expenses, rising by 298.00% to -¥7,791,512.07, attributed to higher interest income and exchange gains[8] - Research and development expenses rose to ¥23,065,665.74, up 26.5% from ¥18,181,998.27 in the previous period[19] - Tax payments amounted to 23,353,212.34, significantly higher than 7,988,206.68 in the previous period, suggesting increased tax liabilities[22] Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 58,584[11] - The largest shareholder, Anhui Jianghuai Automobile Group Co., Ltd., holds 41.61% of shares, totaling 390,949,132 shares[11] Non-Recurring Gains and Losses - The total amount of non-recurring gains and losses for the period was ¥10,976,000.23, including government subsidies and asset disposal gains[6]

Group 1: Market Overview - The domestic bus market has been rapidly activated due to a series of favorable policies, with cumulative sales reaching 511,000 units in 2024, a year-on-year increase of 3.9% [2] - Sales of buses over 6 meters have seen a significant increase, with cumulative sales of 126,000 units in 2024, marking a year-on-year growth of 33.4%, the highest in 20 years [2] - The "old-for-new" policy is expected to continue driving growth in 2025, with first-quarter sales reaching 125,000 units, a year-on-year increase of 9.8% [2] Group 2: Company Performance - In 2024, major bus manufacturers reported positive growth in both sales and revenue, with King Long Automobile achieving over 50,000 units sold, a 19.07% increase; Yutong Bus with approximately 46,900 units, a 28.48% increase; Zhongtong Bus with 11,400 units, a 51.49% increase; and Ankai Bus with about 5,837 units, a 34.87% increase [3] - Yutong Bus reported revenue of 37.218 billion yuan in 2024, a year-on-year increase of 37.63%, with net profit rising by 126.53% to 4.116 billion yuan [3] - Ankai Bus achieved revenue of 2.735 billion yuan, a 27.43% increase, and turned a profit with a net profit of 839,200 yuan [3] Group 3: Policy Impact - The National Development and Reform Commission and the Ministry of Finance have introduced measures to support the replacement of buses over 8 years old, with subsidies of 60,000 yuan per vehicle [4] - The implementation of these policies has led to a significant increase in sales, with the total sales of 24 key companies in the new energy bus sector doubling in October and December 2024 [4] - The average subsidy for replacing old buses has been increased to 80,000 yuan, with some provinces offering even higher subsidies, such as Jiangsu's 120,000 yuan for old buses replaced with new energy buses [5] Group 4: Future Growth Drivers - The continuation of the "old-for-new" policy is expected to stimulate a new round of updates in the bus market, with a longer implementation period and stronger effects anticipated in 2025 [7] - The export market is projected to become a new growth driver, with domestic bus exports reaching a record high of 44,500 units in 2024, a 38% increase [8] - The recovery of the tourism economy is expected to significantly boost demand for tourist buses, with sales of tour buses increasing by 24.34% in 2024 [8]

安徽安凯汽车股份有限公司 2024 年度业绩说明会投资者活动记录表 编号：2025-001 证券代码：000868 证券简称：安凯客车 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 类别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 □电话会议 | | | □其他： （请文字说明其他活动内容） | | 参与单位名称 | 安凯客车2024年度业绩说明会采用网络远程方式进行，面向 | | 及人员姓名 | 全体投资者 | | 时间 | 2025 年 4 月 14 日 15:30-17:00 | | 地点 | 深圳证券交易所"互动易平台"http://irm.cninfo.com.cn | | | "云访谈"栏目 | | 公司接待人员 | 主持人：安凯客车 | | | 董事长兼总经理：黄李平 | | | 财务负责人：刘恩秀 | | 姓名 | 独立董事：钱立军 | | | 董事会秘书：余刚 | | 投资者关系活动 | 1.公司本期盈利水平如何? | | | 答：尊敬的投资者您好，公司 2025 年一季度盈利水平请届 | | | 时 ...

证券代码：000868 证券简称：安凯客车 公告编号：2025-021 安徽安凯汽车股份有限公司 | 品 目 | 2025 | 年 | 3 月 | | 本年累计 | | 累计数量较去年同期 增减比率 | | --- | --- | --- | --- | --- | --- | --- | --- | | 产量 | | | | 712 | | 1815 | 28.54% | | 其中：大型客车 | | | | 249 | | 700 | 81.82% | | 中型客车 | | | | 379 | | 776 | 61.67% | | 轻型客车 | | | | 84 | | 339 | -38.03% | | 销量 | | | | 675 | | 1594 | 10.69% | | 其中：大型客车 | | | | 231 | | 584 | 80.25% | | 中型客车 | | | | 309 | | 650 | 32.11% | | 轻型客车 | | | | 135 | | 360 | -42.31% | 本表为销售快报数据，最终数据以公司定期报告数据为准。同时，提醒广 大投资者，不能以公司产销数据直接推算 ...

安徽安凯汽车股份有限公司(以下简称"公司")《2024年年度报告》已于 2025年3月25日在巨潮资讯网（www.cninfo.com.cn）披露。 为让广大投资者进一步了解公司2024年度经营情况，公司定于2025年4月14 日(星期一)15:30-17:00举行2024年度网上业绩说明会，本次年度业绩说明会将 通过深圳证券交易所提供的"互动易"平台举行，投资者可登录"互动易"平台 （http://irm.cninfo.com.cn）进入"云访谈"栏目参与本次年度业绩说明会。 出席本次年度业绩说明会的人员有：公司董事长兼总经理黄李平先生、财务 负责人刘恩秀女士、独立董事钱立军先生、董事会秘书余刚先生及其他相关工作 人员。 证券代码： 000868 证券简称： 安凯客车 公告编号：2025-022 安徽安凯汽车股份有限公司 关于举行 2024 年度网上业绩说明会的公告 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。 2025 年 4 月 8 日 为充分尊重投资者、提升交流的针对性，现就公司2024年度业绩说明会提前 向投 ...

3月31日，A股早盘弱势震荡，截至9:55，沪指跌0.12%，深成指跌0.44%，创业板指跌0.72%。 盘面上，高股息风格护盘，电力、银行等方向领涨，韶能股份涨停;汽车整车板块逆势拉升，安凯客车 涨停;黄金概念走强，恒星科技涨停。下跌方面，机器人概念股大幅走低，南方精工连续3个交易日跌 停;化工股继续调整，中毅达、红宝丽跌停;影视、游戏、计算机设备、军工、工程机械等板块跌幅居 前。 焦点个股方面，湘财股份、大智慧复牌双双涨停。消息面上，湘财股份公告拟换股吸收合并大智慧并募 集配套资金不超80亿元，股票周一复牌;大智慧同日公告，拟以1:1.27的换股比例被湘财股份吸收合并， 股票周一复牌。 展望后市，中银证券指出，总体来看，短期A股或进入震荡调整阶段，业绩确定性将会成为4月市场风 格超额收益主要抓手。 热门板块 1、汽车整车板块活跃 汽车整车板块活跃，安凯客车涨停，东风股份、中通客车、一汽解放、长安汽车等跟涨。 点评：消息面上，国务院国资委相关负责人表示，下一步将对整车央企进行战略性重组，提高产业集中 度。同时，国资委还启动实施了央企产业焕新，新能源汽车布局发展行动方案，以整车产品为突破口和 核心载体，发力布 ...