证券代码：600006 证券简称：东风股份 公告编号：2026--002 东风汽车股份有限公司 2025 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 业绩预告的具体适用情形：净利润为负值。 经财务部门初步测算，预计 2025 年年度实现归属于母公司所有 者的净利润-48,000 万元到-39,000 万元，将出现亏损。 预计 2025 年度实现归属于母公司所有者的扣除非经常性损益的 净利润-93,000 万元到-84,000 万元。 东风汽车股份有限公司（以下简称"公司"） 预计 2025 年年 度实现归属于母公司所有者的净利润-48,000 万元到-39,000 万元。 公司预计 2025 年度实现归属于母公司所有者的扣除非经常性 损益的净利润-93,000 万元到-84,000 万元。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 （三）以上业绩预告数据仅为初步核算数据，未经注册会计师审 计。 二、上年同 ...

Core Viewpoint - Dongfeng Motor's annual performance forecast indicates a significant expected net loss for 2025, driven by intensified competition in the light commercial vehicle market and challenges in transitioning from traditional fuel to new energy vehicles [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of between -480 million and -390 million yuan for the year 2025 [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -930 million and -840 million yuan [1] Group 2: Reasons for Performance Change - The primary reasons for the performance decline include ongoing competition in the light commercial vehicle market, leading to sales pressure and a decrease in overall gross margin [1] - The company is in a critical phase of transitioning from traditional fuel to new energy, prompting adjustments in operational pace, marketing changes, inventory reduction, and retail expansion, which have increased channel support [1] - A reassessment of the collection situation for certain receivables, based on accounting prudence, has led to additional provisions for credit impairment on receivables [1] Group 3: Strategic Measures - The company plans to increase investment in research and development in new energy and intelligent driving technologies, enhance channel construction and expansion, and build a customer-centric value marketing system to mitigate short-term adverse impacts [1] Group 4: Non-Operating Gains and Losses - For the year 2025, the impact of non-recurring gains and losses on the net profit attributable to the parent company is expected to decrease compared to the previous year, primarily due to a reduction in government subsidies received [1]

Core Viewpoint - Dongfeng Motor Corporation (600006) expects a net profit loss attributable to shareholders of the parent company between 390 million to 480 million yuan for the year 2025, compared to a net profit of 29.16 million yuan in the same period last year [1] Group 1: Financial Performance - The company anticipates a significant decline in net profit for 2025, projecting a loss of 390 million to 480 million yuan [1] - In the previous year, the company reported a net profit of 29.16 million yuan, indicating a substantial year-over-year change [1] Group 2: Market Conditions - The competitive landscape in the light commercial vehicle market continues to intensify, putting pressure on the company's product sales [1] - Overall gross profit margin has declined, reflecting the challenges faced in the current market environment [1]

在上述十 家 企 业 中， 与 2024 年相比，东风公司和广汽集团销量呈不同程度下降，其他企业销量均呈不 同程度增长 。 来源： 中汽协会行业信息部 据中国汽车工业协会统计 分 析 ， 2 025 年，汽车销量排名前十位的企业（集团）共销售 2887.6 万辆，占 汽车销售总量的 83.9% 。 ...

Group 1 - The commercial vehicle sector saw a slight increase of 0.14% on January 22, with Jinlong Automobile leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - Jinlong Automobile's stock price rose by 8.82% to 21.97, with a trading volume of 513,200 shares and a transaction value of 1.087 billion yuan [1] Group 2 - The commercial vehicle sector experienced a net outflow of 5.1958 million yuan from institutional investors, while retail investors saw a net outflow of 24.388 million yuan [3] - Retail investors contributed a net inflow of 29.5837 million yuan, indicating a mixed sentiment among different investor types [3] - The individual stock performance showed varied results, with Jinlong Automobile having a net inflow of 71.1658 million yuan from institutional investors, while Foton Motor and other stocks experienced net outflows [4]

Core Viewpoint - The domestic natural gas heavy truck market in China has achieved a record annual sales of 198,700 units in 2025, marking a 12% year-on-year increase compared to 2024, with a notable trend of continuous growth from August to December 2025 [1][28]. Sales Performance - In December 2025, the actual sales of natural gas heavy trucks reached 12,500 units, representing a 31% year-on-year increase but a 35% decrease compared to November 2025 [3][15]. - The overall heavy truck market in December 2025 saw sales of 84,000 units, with natural gas heavy trucks accounting for 14.9% of this total, down from 25.26% in November [7][21]. Monthly Trends - The monthly sales data for the past five years indicates that January and February 2025 had the highest sales figures, while from March to July, sales were the second highest in the last five years [5]. - The months of November and December 2025 recorded the highest sales figures in the last five years for natural gas heavy trucks [5]. Price Influence - Natural gas prices in 2025 fluctuated moderately, with January and February averaging around 4,400 RMB/ton, peaking at nearly 4,600 RMB/ton in March and April, and dropping to just above 4,100 RMB/ton in December [11]. Regional Distribution - In 2025, all 31 provincial-level administrative regions in China had registered natural gas heavy trucks, with significant sales concentrated in resource-rich provinces such as Hebei, Shandong, Shanxi, and Henan [11][13]. - Hebei ranked first with a market share of 14.4%, followed by Shandong, Shanxi, and Henan, each exceeding 16,000 units sold [11]. Company Performance - In December 2025, the top five companies in natural gas heavy truck sales were: FAW Jiefang (3,500 units), China National Heavy Duty Truck Group (2,780 units), Dongfeng Motor Corporation (2,202 units), Foton Motor (1,879 units), and Shaanxi Automobile Group (1,760 units) [17][18]. - For the entire year of 2025, FAW Jiefang sold 55,300 units, maintaining a market share of 27.8%, while other companies like Dongfeng and Foton saw significant growth in their sales [24][26]. Market Share Dynamics - In 2025, five companies held over 10% market share, with FAW Jiefang and China National Heavy Duty Truck Group exceeding 20% [26]. - Compared to 2024, companies like Dongfeng and Foton saw their market shares increase by 3.3 and 3.1 percentage points, respectively, while others experienced declines [26].

Core Viewpoint - The medium truck market in China experienced a "4 consecutive increases" in December 2025, with a total sales volume of 13,400 units, marking a year-on-year growth of 15%. However, the overall annual sales for 2025 saw a decline of 2% compared to 2024, failing to end the year on a growth note [3][19]. Group 1: December Performance - In December 2025, the total sales of the truck market (including chassis and tractors) reached 361,000 units, representing a month-on-month increase of 7% and a year-on-year increase of 17% [3]. - The medium truck market sold 13,400 units in December, with a month-on-month growth of 40% and a year-on-year growth of 15%, achieving a "4 consecutive increases" [3][9]. - The medium truck market's sales in December 2025 ranked second in the last five years, with a net increase of approximately 1,700 units compared to December 2024 [5]. Group 2: Annual Performance - The cumulative sales for the medium truck market in 2025 totaled 125,100 units, ranking third in the last five years, with a year-on-year decline of 2% [5][14]. - In 2025, the average monthly sales for the medium truck market were approximately 10,300 units, with seven months exceeding 10,000 units [7]. - The cumulative sales decline of 2% in 2025 was an improvement from a 5% decline noted after November [7][14]. Group 3: Company Performance - BYD led the medium truck market in December 2025 with sales of 2,806 units, capturing a market share of 20.9%, and achieved a year-on-year growth of 493% [10][12]. - Other top performers included FAW Jiefang and Dongfeng, with sales of 2,334 and 2,323 units respectively, while Hubei Sanyuan saw a remarkable year-on-year growth of 1,601% [10][12]. - In 2025, four companies, including BYD and Sanyuan, achieved sales growth of over 100%, while two companies experienced a decline of over 10% [16]. Group 4: Market Share - The top ten companies in the medium truck market accounted for 98.9% of the total market share in December 2025, with the top five companies holding 83.3% [12]. - The cumulative market share for the top five companies in 2025 was 77.3%, with FAW Jiefang leading at 31.4% [17]. - Compared to 2024, several companies, including FAW Jiefang and BYD, saw significant increases in market share, with FAW Jiefang's share rising by 6.3 percentage points [17].

"想要跟上中国的节奏，感觉就像攀登珠穆朗玛峰一样。"福兰如此描述了他间隔八个月后的重返中国感 受。从过去三到四个月一次的访华频率，到见证中国智能汽车生态的爆发式增长，福兰深知，在这个全 球竞争最激烈的市场中，单纯的"产品导入"或"合资生产"模式早已过时。 因此，福兰明确否定了雷诺短期内重返中国销售市场的可能，理由是"竞争非常激烈"和"价格战的现 实"。 他表示，"价格战是双输的战争，既会导致车辆残值暴跌，也会损害品牌价值，最终不利于消费 者与行业发展。"这种"不逐量、重价值"的判断，与雷诺集团在欧洲市场从"追求销量"转向"追求价 值"的战略一脉相承。 来源：环球网 【环球网科技报道 记者 张阳】2026年新年第三周，雷诺集团CEO福兰（François Provost）将中国定为 年度首个海外市场走访目的地。这位与中国有着长期深厚渊源的管理者，在过去八个月的CEO任期里完 成了集团组织架构重组，再度踏上中国土地，带来的并非急功近利的市场扩张计划，而是一套经过深思 熟虑的"中国生态深耕战略"——以技术合作为纽带，成为全球技术迭代与竞争力重构的关键支点。 在竞争白热化、价格战持续的中国汽车市场中，这种"克制存在" ...

Core Viewpoint - The article discusses the recent sales situation of the HS6 vehicle, highlighting customer feedback, competitive analysis, and promotional strategies. Group 1: Vehicle Arrival and Pricing - The HS6 was first available for test drives and display in early December, with the first batch of commercial vehicles arriving on December 17, including one 220 four-wheel drive hybrid version and three 240 two-wheel drive hybrid versions [2] - The HS6 has three configurations, but the 145 two-wheel drive hybrid version priced at 178,800 yuan is currently not in production [4] Group 2: Customer Engagement and Feedback - On average, nine groups of potential customers visit the dealership daily, with one group specifically interested in the HS6. The feedback indicates that while customers appreciate the vehicle's features, they find the exterior design unappealing and the pricing relatively high with limited discounts [8] - Customers comparing the HS6 primarily consider models such as BYD Tang, Hongqi HS5, Xingyue L, and Deep Blue. The main concern remains the pricing, with interested customers seeking more discounts [11] Group 3: Competitive Advantages and Disadvantages - The HS6 offers several competitive advantages, including a lifetime warranty on the three electric systems for the first owner, safety features exceeding the 2026 national standards, standard amenities like a refrigerator and large screen, and strong battery life that has set a Guinness World Record for hybrid vehicle range [11] - Disadvantages noted include a generally average exterior design and the current pricing being too firm [13] Group 4: Customer Experience and Features - The in-car refrigerator is highlighted as a practical feature, and the driving assistance technology has shown improvements during test drives, with no significant issues reported [14] - The vehicle's autonomous parking feature has been well-received, providing emotional value to customers who find it amusing to use against parking violators [14] Group 5: Financial Policies and Recommendations - Financial options include a two-year interest-free loan of 108,800 yuan for pre-sale orders, which drops to 52,000 yuan after the official launch. The total discount of 8,000 yuan is applicable after deducting the deposit and insurance benefits [15] - It is suggested to observe the market for a while before making a purchase decision, as prices may decrease and potential upgrades could enhance the vehicle's appeal [17] Group 6: Sales Perspective - The main issue currently is the low number of customers visiting the dealership. Despite the vehicle's strong selling points, such as long range and intelligent driving features, awareness of the HS6 is low, and the manufacturer needs to increase online marketing efforts [18]

（来源：经济参考报） 产销双双突破3400万辆、产销连续17年稳居全球第一，新能源汽车新车销量占比近半、L2功能乘用车 渗透率达到64%……2025年，中国汽车产业交出了一份亮眼成绩单。 而在这些数据的背后，是技术创新持续突破，市场秩序与安全规范体系逐步完善，整体产业质量不断提 升。规模是过去的答卷，质量是未来的考卷。在政策指引下，随着电动化、智能化、网联化等的不断推 进，中国汽车产业从规模积累到质量跃升的转型正在不断深化。 交出连续17年全球第一"规模答卷" 2025年，我国汽车行业取得多方面突破。中国汽车工业协会（以下简称"中汽协"）数据显示，2025年， 我国汽车产销分别完成3453.1万辆和3440万辆，同比分别增长10.4%和9.4%，高于年初预期。 中汽协副秘书长陈士华表示，2025年，汽车行业顶住贸易保护和全球产业链重构等外部压力，克服技术 攻关难题、行业"内卷"等多重挑战，展现出强大的发展韧性和活力。加上"两新"政策加力扩围，实现平 稳过渡与有序衔接，企业新品密集上市，终端需求持续释放，全年汽车产销实现超预期增长。 具体来看，新能源汽车方面，2025年在政策利好、供给丰富和基础设施持续改善等多 ...