HANMA TECHNOLOGY(SH:600375) Di Yi Cai Jing·2026-01-21 07:51Group 1 - The heavy-duty truck market in China is experiencing a significant recovery, with sales reaching 1.145 million units in 2025, a year-on-year increase of 27% [1] - The sales of new energy heavy-duty trucks surged to 231,100 units in 2025, marking a staggering increase of 182%, with a penetration rate exceeding 28% [1] - Diesel heavy-duty trucks' market share fell below 50% for the first time, declining by 8 percentage points compared to 2024 [1] Group 2 - Hanma Technology announced it will cease production and sales of traditional fuel vehicles in China starting in 2026, focusing entirely on new energy vehicles [1] - In 2025, Hanma Technology sold 14,005 trucks, with electric medium and heavy-duty trucks accounting for 11,449 units, a year-on-year increase of 153.46%, representing over 80% of total truck sales [1] - The company expects a revenue of 6.6 billion yuan in 2025, a 56% increase year-on-year, while the net profit attributable to shareholders is projected to be approximately -66 million yuan, reducing losses by about 1.012 billion yuan [2] Group 3 - New energy heavy-duty trucks are supported by favorable policies, including a special financial subsidy of up to 140,000 yuan for scrapping old trucks, significantly reducing the effective price of new energy trucks [2] - The implementation of stricter fuel consumption standards starting July 1, 2025, will further push the transition to new energy heavy-duty trucks [3] - The market for new energy heavy-duty trucks is expected to grow, with penetration rates projected to reach 35% in 2026 and potentially exceed 50% in 2027 [3]