上市企业：潍柴动力（000338）,动力新科（600841）,全柴动力（600218）,宗申动力（001696）,云内动 力（000903）,航发动力（600893）,隆鑫通用（603766）,广汽集团（601238） 相关报告：智研咨询发布的《2026-2032年中国汽车用天然气发动机行业市场运行态势及发展战略研究 报告》 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年12月中国发动机产量为2.3亿千瓦，同比下降6.7%；2025年1-12月中 国发动机累计产量为25.2亿千瓦，累计增长5.1%。 2020-2025年中国发动机产量统计图 ...

2026年伊始，商用车行业高层人事变动浪潮延续去年势头，一汽解放、陕汽控股、东风股份和潍柴动力等企业密集调整核心领导层。 中国一汽：张小帆任党委常委、副总经理！ 近日，中国第一汽车集团有限公司召开会议，宣布领导班子成员任职决定：根据中央组织部关于集团公司领导班子成员任职通知，张小帆 同志任中国第一汽车集团有限公司党委常委、副总经理。相关职务任免，按有关法律规定办理。 公开资料显示，张小帆生于1970年，历任东风股份总经理助理、东风特种商用车有限公司副总经理、东风汽车集团有限公司（党委、董事 会）办公室主任、东风商用车总经理、东风汽车集团股份有限公司商用车事业部副总经理等职务。2025年4月，张小帆升任东风汽车集团 股份有限公司商用车事业部总经理，后兼任东风商用车董事长与东风股份董事长。 此外，2026年1月23日，中国一汽旗下子公司一汽解放集团股份有限公司发布关于公司董事会秘书辞职的公告。公告显示，一汽解放集团 股份有限公司（以下简称"公司"）董事会近日收到公司董事会秘书王建勋的书面辞职报告。王建勋因工作调整原因，申请辞去公司董事会 秘书的职务（其原定任期至公司第十届董事会届满之日止），辞职后仍在公司担任其他 ...

Core Viewpoint - The company expects a negative net profit for the fiscal year 2025 due to challenges in the commercial vehicle engine market, including increased penetration of new energy vehicles and intensified competition [1]. Financial Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an anticipated negative net profit [1]. - The company has communicated with its accounting firm regarding the performance forecast, and there are no discrepancies between the company and the accounting firm [1]. Reasons for Performance Changes - In 2025, the company faces ongoing challenges in the commercial vehicle engine market, leading to pressure on traditional business scale and profit margins [2]. - To capture market share, the company continues to invest heavily in research and development, which, combined with a high debt ratio from consecutive losses, results in significant financial burdens [1][2]. - The company has implemented various measures to improve operational quality, including optimizing product structure and managing costs, which have led to a reduction in losses compared to the previous year [2].

Core Viewpoint - ST Yundong (000903.SZ) expects a net profit attributable to shareholders of the listed company to be between -950 million yuan and -800 million yuan for 2025, indicating ongoing financial challenges due to increased competition and rising penetration of new energy in the commercial vehicle engine market [1] Financial Performance - The company anticipates a net profit excluding non-recurring gains and losses to be between -960 million yuan and -810 million yuan for 2025 [1] - The company's financial burden is exacerbated by a high debt-to-asset ratio due to consecutive losses, leading to significant financial expenses that the operating profit cannot cover [1] Business Challenges - The traditional business scale and profit margins continue to face pressure from the increasing penetration of new energy and intensified market competition [1] Strategic Initiatives - To capture market share, the company is maintaining high levels of R&D investment [1] - The company is implementing measures to improve operational quality, including optimizing product structure and promoting domestic supply chain alternatives, which have led to an increase in the gross profit margin per engine compared to the same period last year [1] - Management is enforcing refined management practices, strict implementation of flexible budgeting, and comprehensive cost control, resulting in a year-on-year decrease in period expenses [1] Emerging Business Development - New business areas such as unmanned logistics vehicles and intelligent rubber cutting machines are gradually contributing to incremental growth [1] - The company is steadily expanding its overseas market through technology exports and service network development [1] Overall Improvement - The overall operational status of the company has improved, with the loss margin narrowing compared to the same period last year due to the comprehensive implementation of the aforementioned measures [1]

Financial Performance - The company expects a net profit in the range of -950,000 to -800,000 CNY for the year 2025, compared to a loss of 1,217,127.6 CNY in the same period last year[4] - The basic earnings per share are projected to be between -0.49 and -0.42 CNY, an improvement from -0.63 CNY in the previous year[4] - The accuracy of the performance forecast is subject to uncertainties related to asset impairment provisions, which will be assessed by professional evaluation and auditing agencies[8] - The financial data presented is preliminary and will be finalized in the upcoming 2025 annual report[9] Market Challenges - The company faces challenges in the commercial vehicle engine market due to increasing penetration of new energy vehicles and intensified competition, impacting traditional business scale and profitability[6] R&D and Operational Improvements - The company has maintained high R&D investment to capture market share, despite a high debt ratio and significant financial costs due to continuous losses[6] - Measures taken to improve operational quality include optimizing product structure and implementing domestic supply chain substitutions, leading to an increase in gross margin per engine compared to last year[7] - The company has implemented refined management practices, resulting in a year-on-year decrease in period expenses and improved efficiency in inventory and accounts receivable management[7] Revenue Growth - Emerging businesses such as unmanned logistics vehicles and intelligent rubber cutting machines are gradually contributing to revenue growth[7] - The company has achieved steady expansion in overseas markets through technology exports and service network development[7]

Core Viewpoint - The domestic internal combustion engine market showed strong annual performance in 2025, with total sales reaching 53.81 million units, a year-on-year increase of 12.76%, marking the highest sales since 2018. However, December sales experienced a slight decline due to a weak terminal market and slower supply pace [1]. Group 1: Internal Combustion Engine Sales - In December 2025, internal combustion engine sales were 4.7454 million units, a month-on-month decrease of 1.97% but a year-on-year increase of 0.98% [1]. - For the entire year of 2025, total internal combustion engine sales reached 53.81 million units, reflecting a year-on-year growth of 12.76% [1]. Group 2: Diesel Engine Sales - In December 2025, diesel engine sales were 456,300 units, with a month-on-month increase of 2.75% and a year-on-year increase of 11.62%. The total sales for the year reached 5.126 million units, up 6.8% year-on-year [4][3]. - The multi-cylinder diesel engine market also performed well, with December sales of 360,000 units, a month-on-month increase of 1.41% and a year-on-year increase of 12%. Total sales for the year reached 4.1317 million units, a year-on-year increase of 7.35% [4]. Group 3: Market Performance of Key Companies - Weichai maintained its leading position in the multi-cylinder diesel engine market with total sales of 807,300 units in 2025, achieving a year-on-year growth of 8.58% and a market share of 19.54% [8]. - Yuchai ranked second with total sales of 549,100 units, a year-on-year increase of 23.17%, and a market share of 13.29% [8]. - Yunnei Power ranked third with sales of 353,700 units, a year-on-year increase of 4.65%, holding a market share of 8.56% [8]. - In December, Weichai sold 80,500 units, achieving a month-on-month growth of 2.82%, while Yuchai and Yunnei Power sold 34,300 and 33,500 units, respectively [6]. Group 4: Strategic Partnerships - Yunnei Power and SF Express established a comprehensive strategic partnership focusing on intelligent delivery robots, with SF Express prioritizing the procurement of vehicles equipped with Yunnei Power engines [7].

Core Viewpoint - The announcement details the resignation of Li Jun, the Executive Vice President of Kunming Yunnei Power Co., Ltd., due to work adjustments, while he will continue to serve as a director and a member of the Investment and Decision-Making Advisory Committee [1]. Group 1 - The company's board received a written resignation report from Li Jun, effective immediately upon delivery to the board [1]. - Li Jun's resignation will not affect the company's normal production and operations, and he will complete the handover process according to company regulations [1]. - The company expresses gratitude for Li Jun's contributions during his tenure as Executive Vice President [1].

Core Viewpoint - The announcement details the resignation of Li Jun, the Executive Vice President of Kunming Yunnei Power Co., Ltd., due to work adjustments, while he will continue to serve as a director and a member of the Investment and Decision-Making Advisory Committee [1][2]. Group 1 - Li Jun submitted a written resignation report to the board, effective immediately upon delivery [1]. - His resignation will not impact the company's normal production and operations [1]. - Li Jun has no shareholding in the company and has fulfilled all commitments [1]. Group 2 - The board expresses gratitude for Li Jun's contributions during his tenure as Executive Vice President [1]. - The company assures that the information disclosed is true, accurate, and complete [1]. - The announcement is in compliance with relevant laws and regulations, including the Company Law and the Shenzhen Stock Exchange's self-regulatory guidelines [1].

证券代码：000903 证券简称：ST 云动 公告编号：2026-002 号 昆明云内动力股份有限公司 关于常务副总经理辞职的公告 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。 昆明云内动力股份有限公司（以下简称"公司"）董事会于近日收到常务副总经理李钧 先生的书面辞职报告，李钧先生因工作调整，申请辞去公司常务副总经理职务（其原定任期 至第七届董事会任期届满为止）。辞职后，李钧先生仍在公司担任董事及董事会下设投资与 决策咨询委员会委员职务。 根据《公司法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范 运作》等法律法规及《公司章程》的有关规定，李钧先生的辞职报告自送达公司董事会之日 起生效。截至本公告披露日，李钧先生未持有公司股份，亦不存在应履行而未履行完毕的承 诺。 李钧先生的辞职不会影响公司正常的生产经营，李钧先生将会按照公司相关规定做好离 职交接工作。李钧先生在担任公司常务副总经理期间恪尽职守、勤勉尽责，公司及公司董事 会对李钧先生在其任职期间为公司发展所作出的贡献表示衷心的感谢。 特此公告。 昆明云内动力股份有限公司 董 事 会 ...

Core Viewpoint - The report by Zhiyan Consulting highlights the growth trends in China's automotive natural gas engine industry, projecting a steady increase in engine production and emphasizing the importance of strategic development from 2026 to 2032 [1] Group 1: Industry Overview - In November 2025, China's engine production reached 240 million kilowatts, marking a year-on-year growth of 2.1% [1] - From January to November 2025, the cumulative engine production in China totaled 2.29 billion kilowatts, reflecting a cumulative growth of 6.2% [1] Group 2: Companies Involved - Listed companies in the sector include Weichai Power (000338), Dongfang New Energy (600841), Quanchai Power (600218), Zongshen Power (001696), Yunnei Power (000903), Aero Engine Corporation of China (600893), Loncin General (603766), and GAC Group (601238) [1] Group 3: Research and Consulting - Zhiyan Consulting is recognized as a leading industry consulting firm in China, providing in-depth industry research reports, business plans, feasibility studies, and customized services [1] - The firm emphasizes its commitment to delivering comprehensive industry solutions to empower investment decisions through professional insights and quality services [1]