Group 1 - The core viewpoint of the news is that 中集车辆 (China International Marine Containers) is experiencing a decline in both revenue and net profit, alongside low financing and margin trading levels, indicating potential challenges in its financial performance [1][2][3] Group 2 - As of January 30, 中集车辆's stock price decreased by 0.72%, with a trading volume of 121 million yuan [1] - The financing buy-in amount on January 30 was 15.14 million yuan, while the financing repayment was 9.27 million yuan, resulting in a net financing buy of 5.87 million yuan [1] - The total financing and margin trading balance for 中集车辆 reached 199 million yuan, which is 1.41% of its circulating market value, indicating a low level compared to the past year [1] - On the same day, 中集车辆 had no shares repaid in margin trading, with 6,000 shares sold, amounting to 58,300 yuan, and a margin balance of 223,600 yuan, also at a low level [1] - The company was established on August 29, 1996, and listed on July 8, 2021, focusing on the production of semi-trailers, special vehicle superstructures, and refrigerated truck bodies [1] - The main business revenue composition includes 80.61% from global semi-trailers, 17.14% from superstructures, chassis, and tractors, and 2.25% from other sources [1] Group 3 - As of September 30, 中集车辆 had 29,800 shareholders, a decrease of 16.07% from the previous period, while the average circulating shares per person increased by 19.17% to 48,786 shares [2] - For the period from January to September 2025, 中集车辆 reported operating revenue of 15.01 billion yuan, a year-on-year decrease of 5.13%, and a net profit attributable to shareholders of 622 million yuan, down 26.23% year-on-year [2] - Since its A-share listing, 中集车辆 has distributed a total of 2.664 billion yuan in dividends, with 1.655 billion yuan distributed over the past three years [3] - As of September 30, 2025, 大成高鑫股票A (000628) was the sixth largest circulating shareholder of 中集车辆, holding 25.06 million shares, a decrease of 5.03 million shares from the previous period [3]

证券研究报告 证券分析师 ：黄细里 执业证书编号：S0600520010001 联系邮箱：huangxl@dwzq.com.cn 2026年2月1日 请务必阅读正文之后的免责声明部分 板块最新观点 整车主线周报： 本周商用载货车表现较好，长城发布业绩预告 2 （ ◼ 乘用车观点更新：短期来看，行业补贴政策已落地，看好观望需求转化下26Q1乘用车景气度复苏，坚定看好乘 用车板块。全年维度来看：国内选抗波动+出口选确定性。国内关注高端电动化赛道中对政策扰动不敏感的个股 江淮汽车，以及高端化有望放量的吉利汽车/长城汽车/北汽蓝谷/赛力斯/理想等；出口主线优先配置海外体系 成熟、执行能力已验证的头部车企，优选比亚迪/长城汽车/奇瑞汽车，以及零跑/小鹏/上汽集团/长安汽车等。 ◼ 重卡观点更新：回顾2025：2025年，25年全年批发114.4万，同比+26.8%，内销79.9万，同比+32.8%，出 口34.1万，同比+17.2%，全年内销及出口超市场年初预期。25年初国四及以下营运重卡保有量69万辆，估算 25年底淘汰至45-50万辆，25年全年淘汰21万辆，25年全年内销政策拉动+自然需求回升共振。展望2026： ...

Core Viewpoint - The article highlights the strategic collaboration between CIMC Vehicles, Shaanxi Heavy Duty Automobile, and Chongzuo Urban Construction Logistics to advance intelligent logistics and promote the development of a new energy logistics ecosystem in Guangxi, China [1][5][10]. Group 1: Event Overview - The "South Border New Journey, Smart Connection to ASEAN" event marked the opening of the world's first EV-RT experience center by CIMC Vehicles, aimed at enhancing high-quality development in intelligent logistics [1][11]. - Key leaders from CIMC Vehicles, Shaanxi Heavy Duty Automobile, and Chongzuo Urban Construction Logistics attended the event, emphasizing the deepening of their strategic cooperation [1][5][20]. Group 2: Strategic Collaboration - The partnership signifies a further deepening of strategic cooperation in cross-border transport logistics, guiding the technological, unmanned, and intelligent transformation of logistics in Chongzuo [5][6]. - Shaanxi Heavy Duty Automobile is focusing on innovation, establishing a smart driving technology platform to support unmanned and intelligent transport solutions [10][15]. Group 3: EV-RT Experience Center - The EV-RT experience center serves as a milestone for CIMC Vehicles in embracing the electric vehicle wave, allowing customers to experience the full chain of solutions from vehicle to operation services [11][18]. - The center aims to shift the industry from product competition to ecological collaboration, showcasing the EV-RT ecosystem [18][31]. Group 4: Orders and Deliveries - During the event, Chongzuo Urban Construction Logistics and Guangxi Guiyue Logistics signed an order for 30 integrated new energy tractors, while 20 new energy powder tankers were delivered, supporting the construction of a green logistics system [21][22]. - The event also included a technical partnership award ceremony and the appointment of the global chief experience officer for EV-RT, further solidifying the collaboration [26][30].

图为活动现场 强强联合，共建智能物流新生态 本次合作不仅标志着中集车辆、陕重汽、崇左城建三方在跨境运输物流领域战略合作的进一步深化，更 为广西崇左公水联运科技化、无人化、智能化运输指引了新的方向。 转自：中集车辆 【新华企业资讯1月30日】1月29日，由中集车辆（集团）股份有限公司（股票代码：301039.SZ）、陕 西重型汽车有限公司（以下简称"陕重汽"）和崇左市城建物流有限责任公司（以下简称"崇左城建物 流"）联合筹办的"南疆启新程 智联向东盟｜中集•陕汽&崇左城建物流移动能源与无人智驾生态发布 会"在广西崇左港隆重举行。活动中，中集车辆全球首家EV-RT体验中心正式开业，成为推动智能物流 高质量发展的重要举措，引发行业广泛关注。 崇左城建集团党委书记、董事长尹泉，中集车辆集团助理总裁舒磊，陕重汽销售公司副总经理田明，崇 左交投公司董事、总经理刘驾宇，崇左交投公司常务副总经理、城建物流公司董事兼总经理李艳香，中 集车辆汉诺威计划执行总监刘啸峰等领导出席活动，共同见证三方战略合作的深化与新能源智能物流生 态的落地。 李艳香在致辞中表示，作为广西物流行业绿色转型企业，崇左城建物流通过技术赋能、开放合作，向无 ...

崇左城建集团党委书记、董事长尹泉，中集车辆集团助理总裁舒磊，陕重汽销售公司副总经理田明，崇左交投公司董事、总经理刘驾 宇，崇左交投公司常务副总经理、城建物流公司董事兼总经理李艳香，中集车辆汉诺威计划执行总监刘啸峰等领导出席活动，共同见证 三方战略合作的深化与新能源智能物流生态的落地。 中集车辆助理总裁舒磊在致辞中指出，作为纯电动商用车领域的探索者，中集车辆EV-RT体验中心的开业是公司拥抱纯电动化浪潮的重 要里程碑。客户在EV-RT体验中心不仅可以直观了解 EV-RT 系列产品的技术优势，还能沉浸式体验从整车、补能到运营服务的全链条 解决方案。 本次合作不仅标志着中集车辆、陕重汽、崇左城建三方在跨境运输物流领域战略合作的进一步深化，更为广西崇左公水联运科技化、无 人化、智能化运输指引了新的方向。 崇左交投公司常务副总经理、城建物流公司董事兼总经理李艳香在致辞中表示，作为广西物流行业绿色转型企业，崇左城建物流通过技 术赋能、开放合作，向无人化、智能化革新，积极构建现代物流体系，为崇左物流高质量发展贡献力量。 活动现场 强强联合，共建智能物流新生态 1月29日，由中集车辆(集团)股份有限公司（以下简称"中集车辆" ...

Core Insights - The Chinese refrigerated truck industry is experiencing a significant increase in bidding events, primarily focused on product procurement [1][3]. Group 1: Bidding Events Overview - The majority of bidding events in the Chinese refrigerated truck industry are centered around product procurement [1]. - As of December 2025, the number of bidding events is projected to reach approximately 3,873, up from 2,993 in 2024, indicating a steady annual increase from 2020 to 2024 [3]. - The bidding amounts are predominantly concentrated below 200,000, with 1,969 events (about 34% of total events) falling within this range [6]. Group 2: Demand and Participants - Government-related entities, including party and government agencies, represent a significant portion of the bidding participants, with a combined total of 5,224 and 4,653 events, accounting for over 60% of the total bidding events [8]. - The bidding events are concentrated in economically developed coastal provinces such as Guangdong, Zhejiang, and Jiangsu, with additional activity noted in Sichuan and Xinjiang [10].

证券研究报告 港股通 中国重汽 (3808 HK) 聚力开门红，出口拓宽成长路 2026 年 1 月 29 日│中国香港 商用车 进入 26 年，公司全力冲刺"开门红"，为新一年的销量增长打下坚实基础。 展望 26 年，行业端受益于两新政策快速衔接（内销）和亚非拉地区重点突 破（出口），我们看好重卡行业保持高景气度。公司作为头部重卡企业或率 先受益，维持"买入"评级。 25 年交出亮眼答卷，26 年"开局即冲刺" 王立献* 研究员 SAC No. S0570525020001 wanglixian@htsc.com +(86) 755 8249 2388 2025 年，中国重汽集团整车销量突破 44 万辆，其中重卡销量 30 万辆，不 仅连续 4 年销量稳居国内重卡行业第一公司，更成为全球重卡销量龙头。我 们认为公司取得亮眼成绩，主要原因系：①强大生产制造能力支撑；②国内 市场充分受益于两新政策范围扩大（扩大至国四）和快速衔接；③海外市场 的持续耕耘（12 月与哈萨克斯坦卡拉干达州州长举行会见并签约）。进入 26 年，集团召开"新征程·谋新篇·势夺首季开门红"的生产经营大会。 我们认为该会议为公司 Q1 开门 ...

证券之星消息，1月29日商用车板块较上一交易日上涨0.61%，江淮汽车领涨。当日上证指数报收于 4157.98，上涨0.16%。深证成指报收于14300.08，下跌0.3%。商用车板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600418 江淮汽车 | | 7.07亿 | 16.67% | -2.26 Z | -5.32% | -4.82 Z | -11.36% | | 600303 曙光股份 | | 323.72万 | 5.03% | -198.05万 | -3.08% | -125.67万 | -1.95% | | 000868 安凯客车 | | -429.67万 | -8.17% | 463.96万 | 8.82% | -34.28万 | -0.65% | | 301039 中集车辆 | | -565.85万 | -3.06% | 801.93万 | 4.34% | -236.08万 | ...

转自：前瞻产业研究院 以下数据及分析来自于前瞻产业研究院冷藏车研究小组发布的《中国冷藏车行业市场需求前景与投资规 划分析报告》 行业主要上市公司：中集车辆(301039)、中国重汽(000951)、福田汽车(600166)、东风汽车(600006)、江 淮汽车(600418)、江铃汽车(000550)、一汽解放(000800)、动力新科(600841)等 本文核心数据：冷藏车企业数量、冷藏车区域规模 中国冷藏车企业注册区域集中在山东省 截至2025年12月，中国冷藏车相关企业注册区域主要集中在山东省，注册企业累计7000余家，其次为河 北省，注册企业6000余家。 从区域市场冷藏车流入情况来看，2025前三季度华东地区冷藏车销量最高，为16042辆，占全国销量的 27.87%。华中和西南地区紧随其后，销量分别为10163辆和9240辆，占比分别为17.66%和16.06%。 注：统计时间截至2025年12月5日，下同。 冷藏车行业代表性企业集中于长三角区域 从代表性企业分布情况来看，我国冷藏车代表企业分布在广东、江苏、浙江、山东等东部沿海省份，总 体来看企业集中于长三角区域。 华东地区冷藏车销量最高 广东省冷 ...

Group 1 - The commercial vehicle sector experienced a decline of 0.27% on January 28, with Jinlong Automobile leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] - Key stocks in the commercial vehicle sector showed varied performance, with China National Heavy Duty Truck rising by 3.71% and Jinlong Automobile falling by 5.29% [2] Group 2 - The net outflow of main funds in the commercial vehicle sector was 73.19 million yuan, while retail investors saw a net inflow of 230 million yuan [2] - The trading volume and turnover for major stocks in the sector varied, with Jianghuai Automobile achieving a turnover of 2.859 billion yuan [1][2] - Detailed fund flow analysis indicated that several companies, including Dongfeng Motor and Ankai Bus, experienced significant net outflows from main funds [3]