Group 1: Company Overview and Market Position - The company is a global leader in the production and sales of semi-trailers and specialized vehicles, with a focus on high-end manufacturing and quality development in China's road transport equipment sector [2][3]. - The company has established a competitive advantage in the new energy vehicle sector, aiming to increase the sales proportion of new energy products [3][4]. Group 2: Sales and Profitability Strategies - The company is implementing innovative technologies and production models to enhance gross profit margins and optimize cost structures, including modular product design and centralized manufacturing [3][4]. - The "Starlink Plan" is a key initiative aimed at improving production efficiency and profitability over the next 8-10 years, with a focus on becoming an industry benchmark [3][5]. Group 3: Market Expansion and Global Strategy - The company is actively expanding into emerging markets, particularly in Southeast Asia, the Middle East, Africa, and Australia, leveraging opportunities from the Belt and Road Initiative [4][5]. - The company operates in over 40 countries and regions, with 21 "lighthouse" factories globally, emphasizing a "cross-ocean operation, local manufacturing" model [4][5]. Group 4: Financial Performance and Future Outlook - In the third quarter of 2024, the "Starlink Plan" led to a 20.14% increase in sales volume and a 21.18% increase in revenue, with significant improvements in gross profit margins [5][6]. - The company is focused on maintaining stable growth amidst macroeconomic fluctuations by continuing to implement the "Starlink Plan" [6][7]. Group 5: Investor Relations and Value Management - The company emphasizes value management through business growth, innovation, and effective communication with investors to enhance market confidence [5][7]. - Future plans include strengthening communication and transparency with investors, aligning with regulatory guidelines for value management [7].

Group 1: Investor Relations Activities - The company participated in multiple investor relations activities, including analyst meetings and roadshows, with notable events on November 26, 2024, and December 5, 2024 [2][3] - Key participants included various financial institutions such as Huafu Securities, UBS, and Zheshang Securities [2][3] Group 2: North American Business Performance - The North American business has shown recovery, with a quarter-on-quarter sales increase following the EAPA survey [3] - The overall market share in North America remains stable despite increased uncertainties in the semi-trailer market [3] Group 3: Overseas Manufacturing Capacity - As of mid-2024, the company operates 22 production plants and 18 assembly plants globally, with 5 manufacturing plants and 11 assembly plants located overseas [3] - The "cross-ocean operation, local manufacturing" model has significantly improved production efficiency and maintained steady revenue growth in overseas operations [3] Group 4: Starlink Production Services - The Starlink production service is a key component of the company's "Starlink Plan," focusing on four major business areas: financial services, trailer assistance, vehicle parks, and technology [5] - This initiative aims to enhance user experience and provide comprehensive solutions by breaking down business barriers [5] Group 5: New Energy Initiatives - The company is actively developing new energy products, including lightweight urban dump trucks and pure electric heavy-duty trucks [6] - The innovative EV-RT platform for new energy integrated trailers has been launched, achieving fuel-saving targets and receiving customer approval [6]

证券代码：301039 证券简称：中集车辆 公告编号：2024-091 中集车辆（集团）股份有限公司 关于参加 2024 年度深圳辖区上市公司集体接待日活动的 公告 二〇二四年十二月二日 特此公告。 中集车辆（集团）股份有限公司 董事会 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。 为进一步加强与投资者的互动交流，中集车辆（集团）股份有限公司（以下 简称"公司"）将参加由深圳证监局和深圳证券交易所指导、深圳上市公司协会与 深圳市全景网络有限公司联合举办的"2024年度深圳辖区上市公司集体接待日" 活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演APP，参与 本次互动交流，活动时间为2024年12月12日（周四）14:30-17:00。届时公司副总 裁兼董事会秘书毛弋女士及投资者关系团队将在线就公司业绩、公司治理、发展 战略、经营状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流， 欢迎广大投资者踊跃参与。 ...

Group 1: Investor Relations Activities - The company participated in two investor relations events: the 2025 Annual Strategy Meeting hosted by Caifeng Securities and the 2025 Annual Investment Strategy Report Meeting hosted by Haitong Securities [2] - The events took place on November 21-22, 2024, in Hangzhou and Shanghai respectively [2] - The company’s investor relations manager, Mr. Yan Wei, and Ms. Mo Shuting from the investor relations department represented the company [2] Group 2: Key Business Strategies - The "Starlink Plan" integrates resources from seven domestic semi-trailer factories, achieving a market share increase and sales growth of 20.14% with revenue up by 21.18% in Q3 2024 [3] - The "Strong Crown Rising Plan" was launched in September 2024 to restructure the production of tank vehicles, aiming for high-quality development [3] - The company is actively exploring new production service models, focusing on financial services and lifecycle support for customers [4] Group 3: European Market Performance - In the first three quarters of 2024, the European business faced challenges due to supply chain fluctuations, leading to increased delivery costs and reduced market demand [3] - The company leveraged its global supply chain management advantages to optimize product delivery cycles and expand into other overseas markets, with strong growth in Australia [3] Group 4: Industry Trends and Future Directions - The launch of the Starlink Production Service aims to optimize service processes and provide comprehensive lifecycle services from purchase to maintenance [4] - The increasing share of productive services in the industry reflects the rapid economic development and structural upgrades in China, indicating a significant future direction for the industry [4]

Group 1: Investor Relations Activities - The company organized investor relations activities from November 11 to November 15, 2024, including headquarters research and participation in various forums [2][3]. - Key participants included major financial institutions such as CITIC Securities, Citadel, and others, indicating strong interest from analysts and investors [2][3]. Group 2: Business Impact and Industry Trends - The "Old for New" policy is expected to significantly boost the demand for semi-trailers in China, supported by substantial subsidies and the establishment of a unified national market [3][4]. - The company has implemented the "Starlink Plan" to transform its domestic semi-trailer business model, aiming to enhance production efficiency and product quality [3][4]. Group 3: Standards and Safety in Transportation - The company is actively involved in setting industry standards for edible oil transportation, having published the first national standard for edible oil tank vehicles in July 2024 [4]. - The focus on high-quality tankers ensures compliance with food safety requirements, enhancing the safety of edible oil transportation [4]. Group 4: Global Operations and Strategy - The company operates 21 "lighthouse" factories globally, with a sales network covering over 40 countries, reinforcing its competitive edge in international markets [4][5]. - In the fourth quarter of 2024, the company plans to enhance its "Starlink Plan" and improve gross margins while expanding its product offerings and customer experience [5].

证券代码：301039 证券简称：中集车辆 公告编号：2024-090 中集车辆（集团）股份有限公司 关于持股 5%以上股东减持计划实施完毕的公告 二、 股东本次减持前后情况 注：上海太富、台州太富受同一主体控制，为一致行动人。 持股 5%以上股东平安资本有限责任公司－上海太富祥中股权投资基金合伙企业（有 限合伙）、平安资本有限责任公司－台州太富祥云股权投资合伙企业（有限合伙）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。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 中集车辆（集团）股份有限公司（以下简称"公司"或"本公司"）于2024年10 月10日披露了《关于持股5%以上股东减持A股股份预披露的公告》（公告编号： 2024-084），公司持股5%以上股东平安资本有限责任公司－上海太富祥中股权投 资基金合伙企业（有限合伙）（以下简称"上海太富"）、平安资本有限责任公司－ 台州太富祥云股权投资合伙企业（有限合伙）（以下简称"台州太富"）计划于上 述公告披露之日起15个交易日之后的3个月内以集中竞价交易方式合计减持本公 司A股股份不超过10,000,000股， ...

编号：2024-11 证券代码：301039 证券简称：中集车辆 | --- | --- | --- | --- | --- | |-----------------------|------------------------------|--------------------------------------------------------|-----------------------|------------------| | | | | | | | 投资者关系活 | □ 特定对象调研 | √ 分析师会议 | | | | 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 | | | | | | □ 其他 | | | | | 参与单位名称 | | 第一场：东吴证券秋季上市公司交流会 | | | | 及人员姓名 | | 东吴证券、圆信永丰、华泰保兴、摩根基金 | | | | | 第二场：中泰证券 | 2024 年秋季策略会 | | | | | 中泰证券、招银理财、圆信永丰 | | | | | 时间 | | 第一场： ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company has fully implemented the "Starlink Plan," achieving breakeven in its specialized vehicle assembly business. The sales volume of the Starlink Lighthouse Pioneer Group increased by 20.14% year-on-year, with revenue up by 21.18% [5] - The company reported a revenue of 15.823 billion yuan for the first three quarters of 2024, a year-on-year decrease of 19.14%, and a net profit attributable to shareholders of 843 million yuan, down 63.00% year-on-year [4] - The gross profit margin for the first three quarters of 2024 was 15.77%, a decrease of 3.03 percentage points year-on-year, while the company maintained good expense control [4] Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 15.823 billion yuan, down 19.14% year-on-year, and a net profit of 843 million yuan, down 63.00% year-on-year [4] - The third quarter alone saw revenue of 5.124 billion yuan, a decrease of 15.98% year-on-year, and a net profit of 280 million yuan, down 26.50% year-on-year [4] - The company expects net profits for 2024-2026 to be 1.08 billion, 1.205 billion, and 1.359 billion yuan, respectively, with corresponding P/E ratios of 18.52, 16.61, and 14.73 [6] Business Segment Performance - The specialized vehicle assembly business saw a significant year-on-year sales increase of 38.64% and revenue growth of 25.09%, achieving breakeven in the first three quarters of 2024 [5] - The North American business has resumed operations with container chassis deliveries, ranking 11th globally in the 2024 Global Trailer OEM rankings with nearly 23,500 units produced [5] - The company is actively exploring new markets and optimizing product delivery cycles in Europe and other regions, while maintaining growth in the Australian market [5]

[Table_MainInfo] 公司研究/汽车与零配件/汽车零配件 证券研究报告 中集车辆（301039）公司季报点评 2024 年 11 月 07 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-----------------------------------------------------------------|-------------| | 股票数据 | | | 11 [ Table_StockInfo 月 06 日收盘价（元） ] | 10.68 | | 52 周股价波动（元） | 7.61-13.15 | | 总股本 / 流通 A 股（百万股） | 1874/1454 | | | | | 总市值 / 流通市值（百万元） | 20016/15525 | | 相关研究 | | | [Table_ReportInfo] 《 24Q2 营收环比回升，静待北美集装箱骨架 | | | 车业务发展》 2024.08.29 | | | 《混凝土搅拌车龙头》 | 2024.06.19 | 市场表现 [Table_QuoteInfo] -24.35% - ...