Core Viewpoint - The Chinese mainland's "dual carbon" goals are driving the rapid growth of the new energy heavy truck industry, with a significant increase in sales and market penetration, indicating a shift from policy-driven to market-driven dynamics [1] Group 1: Industry Trends - By November 2025, cumulative sales of new energy heavy trucks reached 185,800 units, with a year-on-year increase of 178% in November alone, marking a penetration rate exceeding 30% for the first time [1] - The continuation of national subsidies until 2026 is expected to inject strong support into the industry [1] Group 2: Company Overview - 德银天下 (Deutsche Bank Tianxia) has established a comprehensive ecosystem covering the entire lifecycle of commercial vehicles through logistics, financial services, and data services [1] - The company reported a 200% year-on-year growth in supply chain business incubation, with overall vehicle sales driven by the large-scale application of new energy vehicles increasing by 111% [1] Group 3: Strategic Initiatives - The company has signed contracts for integrated new energy vehicles and charging stations, creating a closed-loop service network for sales, charging, and operations [2] - A strategic cooperation agreement with 永青集团 (Yongqing Group) aims to provide intelligent capacity management solutions in Indonesia, expanding the company's international presence [2] Group 4: Growth Potential - 德银天下 is positioned to benefit from the high demand in the new energy heavy truck sector, supported by industry policy benefits, a comprehensive ecosystem, and international expansion opportunities [3] - The company is recommended for investment during the current valuation window, with a potential for long-term price appreciation [3]
国策加持产业链布局 德银天下可吼