ZONGSHEN POWER(SZ:001696) Zhong Guo Chan Ye Jing Ji Xin Xi Wang·2026-02-23 22:18Industry Overview - In January, the motorcycle industry in China experienced a strong start, with significant year-on-year and month-on-month growth in production and sales, as well as continued positive trends in foreign trade exports, achieving a monthly export volume that reached a recent high [1] Production and Sales - The total production and sales of fuel motorcycles in January were 1.6985 million and 1.7236 million units, respectively, with month-on-month increases of 1.88% and 3.97%, and year-on-year increases of 23.24% and 22.95% [3] - Electric motorcycle production and sales were 306,100 and 281,500 units, showing month-on-month declines of 9.74% and 7.45%, but year-on-year increases of 43.97% and 27.99% [3] - The total motorcycle production and sales reached 2.0046 million and 2.0051 million units, with a month-on-month production decrease of 0.08% and a sales increase of 2.2%, while year-on-year growth was 26.01% and 23.63% [3] - Domestic sales of motorcycles were 682,100 units, with a month-on-month decline of 5.78% and a year-on-year increase of 21.16% [3] Model Breakdown - Among the three major motorcycle types, the production and sales of cross-country motorcycles were 1.0475 million and 1.0526 million units, with month-on-month growth of 3.01% and 0.06%, and year-on-year growth of 17.91% and 18.85% [4] - Scooter production and sales were 528,400 and 503,900 units, with a month-on-month production decrease of 0.93% and a sales increase of 9.4%, while year-on-year growth was 37.23% and 29.03% [4] - The production and sales of step-through motorcycles were 206,300 and 229,300 units, with month-on-month growth of 0.28% and 19.71%, and year-on-year growth of 39.71% and 36.38% [4] Three-Wheeled Motorcycles - In January, the production and sales of three-wheeled motorcycles were 210,800 and 207,800 units, with month-on-month declines of 15.76% and 19.37%, but year-on-year increases of 24.18% and 17.05% [6] - The production and sales of ordinary cargo three-wheelers were 160,000 and 157,800 units, with month-on-month declines of 12.84% and 15.85%, and year-on-year growth of 15.5% and 9.66% [6] Export Performance - In January, motorcycle exports continued the high growth trend from the previous year, with export volume and value both achieving double-digit growth month-on-month and year-on-year, setting a new historical high for monthly exports [8] - The total motorcycle export volume was 1.323 million units, with a month-on-month increase of 6.86% and a year-on-year increase of 24.94%, while the export value reached $876 million, with a month-on-month increase of 6.89% and a year-on-year increase of 31.28% [9] - The export volume of two-wheeled motorcycles was 1.2633 million units, with a month-on-month increase of 7.36% and a year-on-year increase of 25.24% [9] Economic Performance - In 2022, motorcycle manufacturing enterprises achieved an industrial output value of 148.975 billion yuan, a year-on-year increase of 11.96%, and an industrial sales value of 149.321 billion yuan, a year-on-year increase of 11.41% [14] - The total operating income reached 159.03 billion yuan, a year-on-year increase of 10.73%, while total profits amounted to 12.297 billion yuan, reflecting a year-on-year increase of 34.11% [14] - The total costs of motorcycle manufacturing enterprises were 134.401 billion yuan, with various expenses also showing year-on-year increases [14]