潍柴动力 20250622 摘要 预计 2025 年重卡行业总量将增至 95-100 万台，受益于 318 政策落地 和天然气重卡渗透率提升，油价上涨驱动客户接受度提高，新能源重卡 渗透率预计达 30%。 潍柴动力一季度受益于大缸径等新业务，市占率提升，归母净利润同比 增长超 20%；二季度业绩或承压，但全年业绩仍值得期待，未来战略聚 焦新能源、数字化和后市场。 潍柴动力积极布局新能源汽车领域，与比亚迪合作生产弗迪电池，推进 电池包、电驱电控产品落地，旨在补足新能源渗透率提升带来的销量压 制。 潍柴动力通过推动天然气重卡渗透率、扩大大缸径产品市占率、加速数 据中心交付、优化出口产品结构等措施应对行业挑战，实现长期发展目 标。 2024 年下半年，潍柴动力通过产品降本增效，推出新的天然气系列和 传统油车产品，毛利率显著提升，预计随着经营稳定，市盈率将继续提 升。 Q&A 潍柴动力在商用车市场的表现如何？未来的行业趋势是什么？ 潍柴动力在商用车市场表现良好，尤其是在内需方面，从今年 4 月开始，5 月 终端增长达 17%。尽管俄罗斯市场存在压力，但越南和中东等国家的需求增长 迅速。预计今年行业总量将从去年 90 ...

汽车行业由前市场与后市场共同构成，前市场主导整车制造与销售，后市场则涵盖维修保养等关键环节。 近年来，随着全球汽车保有量持续增长、平均车龄逐步攀升，汽车后市场作为产业链中高附加值的环节， 其价值份额正不断扩大。在此趋势下，国内汽车维修保养设备龙头企业上海巴兰仕汽车检测设备股份有限 公司（简称"巴兰仕"）迎来资本化关键节点，将于6月20日在北交所首发上会。 汽车维修保养设备的最终用户为分散全球各地的汽车4S店、汽车维修保养店等，广泛的营销网络对于设备 制造商至关重要。针对此需求， 巴兰仕建立了遍布国内各省市和国外100多个的国家和地区的营销网络 ， 积累了优质的客户资源。在国内，公司的经销商覆盖全国大多数省、自治区和直辖市，用户包括理想汽 车、比亚迪汽车、长城汽车等知名整车厂商（含旗下4S店），包括途虎养车、天猫养车、京东养车等大型 连锁汽车维修保养店，也包括中国石油、美孚、壳牌等知名油品公司。在国外，公司产品远销欧洲、南美 洲、北美洲、非洲、亚洲其他国家等100多个国家和地区，主要通过贴牌制造的方式与各国当地的主要品牌 商建立了长期稳定的合作关系。 技术引擎驱动产品多元，品牌势能释放盈利潜能 聚焦汽车维保设备 ...

近期，又有一家汽车产业链的公司迎来IPO进展。 格隆汇获悉，北交所上市委员会定于2025年6月20日召开2025年第11次审议会议，审议上海巴兰仕汽车检测 设备股份有限公司（简称"巴兰仕"）的首发事项，保荐人为国金证券股份有限公司。 01 65岁董事长带着小23岁老板娘，专注于汽修设备领域 巴兰仕成立于2005年1月7日，总部位于上海市嘉定区。公司2023年3月在新三板挂牌，2024年5月调整至创新 层。 截至2025年5月30日，蔡喜林、孙丽娜夫妇为公司的共同实际控制人，二人通过直接及间接的方式合计控制 公司46.66%的股份。 蔡喜林1959年2月出生，中国国籍，有匈牙利永久居留权，大专学历。他曾在江西省湖口工具厂、珠海大众 电业有限公司、珠海国际贸易展览（集团）有限公司、珠海市海大工贸公司、中山市科盛机械有限公司等处 任职。目前，蔡喜林在巴兰仕任董事长兼总经理。 孙丽娜1982年6月出生，中国国籍，有匈牙利永久居留权，硕士学历。她曾任广州汇峰机械有限公司海外销 售经理、广州浦力机械有限公司总经理、广州晶佳汽车设备有限公司执行董事兼总经理等职务。2022年8月 至今，孙丽娜任公司副总经理。 巴兰仕专注于汽 ...

Core Viewpoint - The automotive maintenance and repair equipment industry is experiencing unprecedented growth opportunities, with Shanghai Balanshi Automotive Testing Equipment Co., Ltd. (referred to as "Balanshi") demonstrating strong development momentum through robust performance growth, deep R&D capabilities, and comprehensive competitive advantages [1][2]. Financial Performance - Balanshi's main business revenue has shown steady growth from 635.59 million yuan in 2022 to 786.86 million yuan in 2023, and is projected to reach 1,046.92 million yuan in 2024, with a year-on-year growth of 23.80% in 2023 and an anticipated increase of 33.05% in 2024 [2]. - The company's main business revenue consistently accounts for over 98% of total revenue, highlighting its strategic focus on core operations [2]. - The expected revenue for the first half of 2025 is projected to be between 513.00 million yuan and 530.00 million yuan, indicating stable profit growth [2]. Industry Outlook - The automotive maintenance and repair equipment industry is entering a golden development period, with China's passenger car maintenance market reaching approximately 1.1 trillion yuan in 2023 and expected to grow to 1.3476 trillion yuan by 2025, reflecting a compound annual growth rate of 6.50% from 2020 to 2025 [3]. - The growth is driven by the increasing global vehicle ownership, particularly the rapid adoption of new energy vehicles, and the aging vehicle structure leading to higher maintenance frequency and costs [3]. Competitive Advantages - Balanshi has established a comprehensive competitive advantage through years of industry experience, including a strong R&D team with 226 domestic and international patents and 18 software copyrights as of the end of 2024 [4][5]. - The company has introduced innovative products such as battery lifts and automatic car washes, aligning with the trends in new energy vehicles [4]. - Balanshi's brand influence is significant, with its products recognized as famous trademarks and well-regarded in both domestic and international markets [4]. Manufacturing and Management - The company adheres to high standards in production, continuously improving efficiency and product quality through automation and digital transformation [5]. - Balanshi's products have received multiple international certifications, demonstrating its leading quality control capabilities [5]. - The management team, equipped with rich industry experience and market insight, plays a crucial role in navigating opportunities during transformations [5]. Future Development - Balanshi plans to increase R&D investment, particularly in new energy vehicle maintenance equipment and intelligent products, to maintain its technological leadership [7]. - The company aims to expand its international market share while enhancing operational efficiency through lean production and digital management [7]. - As the automotive industry shifts towards electrification and intelligence, Balanshi is positioned to seize opportunities in the upcoming technological revolution [7].

运维由辅 助走向 C 位 根据曾云帆的演讲报告，可以看到，2025年，随着新型储能产业由政策襁褓向市场造血转型，以精细化运营、高效安全运维为主的储能后市场从辅 助职能跃升为价值创造主力。这一变革背后是政策、行业发展、市场需求以及技术迭代四大核心引擎作用的结果： 行家说储能 步入2025年年中，我们或许需要换一种视野来看储能行业了。 曾经依赖抢装扩产、只盯着装机量的市场，必须直面核心命题：如何将重资产转化为可持续收益引擎， 从"拼命建"转向"聪明管"。未来，谁率先完 成这场蜕变，或许就将手握改写行业游戏规则的金钥匙。 6月10日，在行家说储能联合光亚法兰克福主办的"2025年全球用户侧储能产业价值峰会暨应用示范展"上，联盛新能源集团市场总监曾云帆以《事 须即行不可迟，储能运维正当时》为题，从智能运维角度，以联盛新能源集团优得运维（以下简称为优得运维）为例，重点解读储能后市场时代的 运维密码。 同期，联盛新能源集团带着用户侧储能一站式解决方案亮相展会，引起广泛关注。此次展会上，联盛新能源集团透露，目前储能项目开发容量累计 近1GWh，储能项目运维规模累计近2GWh，拥有100+家县市级运维服务中心，并凭借丰富的投 ...

Core Viewpoint - A robust consumer rights protection mechanism is essential for the long-term healthy development of the industry, ensuring that technological advancements in the electric vehicle sector align with consumer rights protection [1][2][3] Group 1: Industry Challenges - The rapid growth of China's electric vehicle industry has led to some companies and dealers exiting the market, resulting in inadequate after-sales service for consumers [1] - Recent bankruptcies of companies like Nezha and WM Motors have left consumers facing difficulties in vehicle maintenance and insurance [1][2] - The existing regulations, such as the "Automobile Sales Management Measures," require suppliers to ensure at least 10 years of parts supply and after-sales service, but the reality often leads to a "responsibility vacuum" for consumers [1][2] Group 2: Proposed Solutions - Establishing a "post-sale responsibility fund" for car companies could help cover maintenance and parts supply for consumers after a company goes bankrupt [2] - Improving the interchangeability of key components in vehicle production standards could reduce maintenance costs and difficulties [2] - Regulatory bodies should create guidelines for software service quality and data security to ensure proper data handling and service continuity in case of company closures [2] Group 3: Market Opportunities - The challenges faced by consumers after car companies exit the market also present business opportunities, particularly in the after-sales service sector [3] - Allowing authorized companies to sell original parts to independent repair shops can enhance competition and provide consumers with more cost-effective service options [3] - Developing a third-party after-sales certification system can create a more open and efficient automotive aftermarket ecosystem, benefiting consumer rights and stimulating growth in the electric vehicle sector [3]

Core Insights - The rapid growth of the independent aftermarket for electric vehicles (EVs) is anticipated as over 3.5 million EVs will exit their warranty period by 2025, leading to a surge in demand for components related to the three electric systems (battery, motor, and control system) [1][2] - The current after-sales market for EVs is estimated to reach 300 billion yuan by 2025, but faces challenges such as high repair costs, insufficient authorized service points, and limited capabilities in the maintenance and testing of the three electric systems [1][2][3] Market Dynamics - The number of EVs in China is projected to exceed 50 million by 2025, with the number of vehicles out of warranty increasing from 1.36 million in 2024 to 3.5 million in 2025 [2] - The current workforce in the EV repair sector is less than 100,000, highlighting a significant shortage of skilled technicians, with a gap of over 80% expected in 2025 [2][3] Repair Challenges - Third-party repair shops face significant difficulties in servicing EVs due to the proprietary nature of the technology and lack of standardized parts in the secondary market [2][3] - The absence of a unified assessment standard for the three electric systems results in repair costs being dictated by the manufacturers, complicating the pricing landscape for consumers [4] Regulatory Environment - Recent policy measures aim to enhance the supply channels for EV repair parts and encourage manufacturers to open up technology for better economic viability in battery repairs [5] - The emergence of third-party testing services and platforms is expected to benefit the independent repair market for out-of-warranty EVs [5] Data Sharing and Collaboration - Breaking down "information silos" and achieving data sharing among manufacturers is crucial for the sustainable development of the EV aftermarket [6] - Utilizing big data to assess the remaining lifespan of the three electric systems and the residual value of used vehicles can enhance service offerings and consumer trust [6]

康力电梯分析师会议 调研日期：2025年06月04日 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 调研行业：专用设备 参与调研的机构：高盛中国、Goldman Sachs、Hel Ved Capital、招商基金、JP Morgan等 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击 ...

作者丨高飞 1 历久弥新，老字号展现新活力 中策橡胶在轮胎行业中堪称中流砥柱，其发展脉络承载着深厚的历史积淀，公司的前身可追溯至 1958 年创立的杭州海潮橡胶厂。自诞生之初，中策橡胶便锚定目标，矢志不渝地为全球消费者打造高品质、 高性能且兼具环保节能特性的多元化轮胎产品。历经岁月淬炼，如今的中策橡胶已发展成为国内外市场 中销售规模名列前茅的轮胎制造巨头。 在中国橡胶工业协会发布的 "2024 年度中国轮胎企业排行榜" 中，中策橡胶位列榜首，彰显了其在国内 轮胎行业的龙头地位。同时，名列美国《轮胎商业》杂志《2024 全球年度轮胎报告》评选的全球轮胎 制造企业前十强，也是其国际竞争力的有力证明。 近年来，中策橡胶在发展道路上不断突破创新，凭借技术创新、结构优化、智能制造、品牌提升和国际 化发展等多维度战略，持续提升在全球行业的排名与知名度。公司品牌矩阵强大，"朝阳""好运""威 狮""全诺""雅度""金冠""WEST LAKE""GOODRIDE""CHAO YANG""TRAZANO" 等众多品牌，不仅在 国内市场家喻户晓，在国际舞台上也颇具知名度。其中，"朝阳" 商标更是凭借卓越品质，被国家工商 总局认定 ...

证券代码：002367 证券简称：康力电梯 企的开发力度，通过优化代理商政策和加强核心代理商开拓， 提升代理销售占比；对于逾期应收账款，积极与客户磋商还款 安排，包括以房抵债等多种形式降低损失。2024 年公司销售回 款率 125.91%，截止期末公司应收账款余额较期初下降 1.96%。 康力电梯股份有限公司投资者关系活动记录表 编号：2025-003 | 投 资 者 关 系 活 | √特定对象调研 □分析师会议 | | --- | --- | | 动类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参 与 单 位 名 称 | 高盛中国：杜茜 | | 及人员姓名 | Goldman Sachs:Daniela Costa | | | Hel Ved Capital：杨阳 | | | 招商基金：王奇超 | | | JP Morgan：陈炳宏 | | | 3W Fund: 刘昊聪 | | | 磐泽资产：熊威明 | | | 等机构代表共 14 位 | | 时间 | 2025 年 6 月 4 日 | | 地点 | 公司会议室 | | 上 市 ...