由于张小帆在商用车领域有着丰富的经历，有行业人士分析认为，加入一汽后其将分管中国一汽的商用 车事业。 2025年，中国一汽商用车业务表现良好。一汽解放全年销售整车突破28万辆，同比增长10.3%。在2025 年12月举行的2026全球合作伙伴大会上，一汽解放透露，2026年整车销量目标为32万辆，同比增长 14%；其中，新能源车销量7.5万辆，海外整车销量8万辆。 记者 王帅国 1月28日，中国一汽发布消息称，近日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，张小帆任公司党委常委、副总经理。 此前张小帆在东风集团任职，由此，中国一汽高管队伍中迎来了第三位来自东风系的人员。其他两位分 别是中国一汽现任董事长、党委书记邱现东和党委常委、副总经理、高级工程师陈彬。 同时，张小帆的到来也补全了中国一汽新一届领导班子最后一个空位。现在，中国一汽新一届领导班子 九位常务委员分别为：邱现东；董事、总经理、党委副书记刘亦功；董事、党委副书记梁贵友；党委常 委、中央纪委国家监委驻中国一汽纪检监察组组长孙继光；党委常委、总会计师方世力；党委常委、副 总经理、正高级工程师吴碧磊；陈彬；党委 ...

Group 1: Company Performance - In 2025, China's heavy truck market total sales reached 1.145 million units, a year-on-year increase of 27% [3] - The company maintained a strong growth trend in production and sales compared to the previous year, with a healthy order backlog [3] - The company continues to hold a leading market share in the heavy truck industry due to enhanced product competitiveness and effective market expansion [3] Group 2: Subsidiary Operations - The axle company, a subsidiary with 51% ownership, benefits from stable market demand and revenue due to close cooperation with the group's vehicle production units [3] - The aftermarket company, a wholly-owned subsidiary, focuses on providing services related to parts, oil products, and after-sales support, maintaining robust operations and profitability [3] Group 3: Dividend Policy - The company prioritizes shareholder returns and has consistently increased its dividend payout ratio over the past five years, continuing cash dividends in the mid-term for 2025 [3][4] - Future dividend policies will consider factors such as capital structure, operational performance, funding needs, and development plans, aiming for a steady increase in cash dividends when conditions allow [4] Group 4: Export Performance - The company's export operations are primarily conducted through its international subsidiary, which has maintained the industry’s leading position for 21 consecutive years [5] - The export business continues to grow steadily, covering over 150 countries and regions, with a focus on markets in Africa, Southeast Asia, Central Asia, and the Middle East [5] Group 5: New Energy Heavy Trucks - In 2025, the domestic sales of new energy heavy trucks reached 231,100 units, a year-on-year increase of 182%, with the company outperforming the industry in sales growth [6] - The new energy heavy truck sector is experiencing strong growth driven by policy support and technological innovation, with the company committed to enhancing product competitiveness and market responsiveness [6] Group 6: Natural Gas Heavy Trucks - In 2025, the total sales of natural gas heavy trucks reached 198,700 units, a year-on-year increase of 12%, with December sales showing a 31% increase [7][8] - The company remains optimistic about the natural gas heavy truck market and plans to enhance product competitiveness while executing long-term strategic layouts [8]

1月28日，以"携手远程 四海共赢"为主题，150台远程星瀚G超级电动牵引车在上海圆满交付。此次交付的车辆将投入上海港集装箱运 输、干线运输等场景，通过装备升级和成本优化，助力上海四赢物流拓展全国绿色运力网络，打造零碳物流新标杆。 远程新能源商用车集团副总裁郭磊在致辞中表示，上海四赢物流作为物流行业的标杆企业，近年来紧跟国家"双碳"战略，前瞻布局绿色 物流赛道，为行业低碳转型和可持续发展树立了先行范本。 上海四赢物流董事长龚杰良强调，携手远程合作，源于对产品硬实力与服务软实力的双重信赖。随着业务的成长，远程新能源重卡的超 长续航、高效补能与智能管理优势，完美契合运输需求，为构建辐射全国的网络注入绿色动能。 活动现场，双方签署200台新能源重卡订单。至此，双方累计合作规模已达400余台。远程新能源商用车集团副总裁郭磊、上海四赢物 流董事长龚杰良等领导及嘉宾出席仪式，见证这一双方合作迈向规模化新阶段的重要时刻。 连续复购彰显实力 助力客户拓展全国业务 安全与舒适性方面，得益于底置电池布局，整车重心更低，行驶更稳定，兼容驾驶室碰撞后移技术，免除后背电池挤压撞击风险。双碰 撞预警、胎压监测、疲劳监测以及国际品质EBS ...

Core Viewpoint - In December 2025, China's new energy heavy truck sales reached a record high, totaling 231,100 units for the year, representing a year-on-year growth of 182% [1]. Group 1: December Sales Performance - In December 2025, domestic new energy heavy trucks sold 45,300 units, a year-on-year increase of 198%. The breakdown includes 40,800 pure electric trucks, 4,202 fuel cell trucks, and 284 hybrid trucks, with respective month-on-month growth rates of 50%, 610%, and 139% [2]. - Fuel cell and hybrid heavy trucks showed significant year-on-year growth compared to November, where fuel cell trucks and hybrid trucks had growth rates of 20% and 31%, respectively [2]. - The strong performance in December indicates that the surge in new energy heavy trucks is not solely driven by pure electric models but is a comprehensive market boom [2]. Group 2: Market Presence of Fuel Cell and Hybrid Trucks - Throughout 2025, the presence of fuel cell and hybrid heavy trucks was relatively weak, with notable months being March, September, and November, where their market shares were 4.71%, 2.34%, and 2.12%, respectively [4]. - In December, the market share of fuel cell trucks increased to 9.28%, while hybrid trucks maintained a low share of 0.63% [5]. Group 3: Annual Sales and Market Share - For the entire year of 2025, fuel cell and hybrid heavy trucks accounted for 3.15% and 0.55% of the new energy heavy truck market, respectively, totaling 3.7%, with pure electric models making up the remaining 96.3% [7]. - The hybrid heavy truck market saw a total sales volume of 1,274 units, reflecting a year-on-year growth of 145%, although this growth rate was lower than the overall new energy heavy truck market [10][14]. - The leading company in the hybrid heavy truck market was YuanCheng, with 777 units sold, capturing a market share of 61.0%, an increase of 8.7 percentage points from 2024 [16].

蓝海华腾公告称，预计2025年归属于上市公司股东的净利润为4700万元至5500万元，同比增长 69.85%-98.76%；扣非净利润为4688.75万元至5488.75万元，同比增长128.42%-167.39%。上年同期，公 司归母净利润为2767.20万元，扣非净利润为2052.72万元。业绩增长得益于下游新能源重卡需求增长， 公司新能源汽车板块取得较好增长。预计非经常性损益对净利润的影响约为11.25万元。本次业绩预告 未经审计。 ...

被公认技术门槛高、商业化挑战大的硬核赛道，也总有玩家能够逆周期成长—— 2026年初，自动驾驶赛道第一笔投资落地：卡车新势力DeepWay深向，刚刚官宣完成Pre-IPO轮融资，总额11.77亿元。 DeepWay深向成立时间也就5年，但一直被VC、产业方投资人持续看好下注，Pre-IPO扩充多轮，即将冲刺港交所。 据透露，DeepWay深向目前已经越过"独角兽企业"10亿美元的门槛。 5年间，DeepWay深向靠卖新能源重卡实现年营收数十亿元；加速度更加不容忽视，刚刚过去的2025年单季度交付量就超过2024全年—— 但投资人看好的，不仅是卖车的业绩，毕竟这一逻辑还无法支撑DeepWay深向公开道路场景下的"自动驾驶卡车第一股"的估值和潜力。 正向定义打造新能源重卡，当年百度商用车领域唯一获授权使用百度Apollo技术、新能源重卡三电全栈自研……穿透DeepWay深向身上众多标签，这名自 动驾驶卡车玩家，被看重的到底是什么？ Pre-IPO，谁在"上车"DeepWay深向？ 本轮融资的投资方，包含了普华资本、ABC Impact（淡马锡旗下投资公司）、欣旺达、前海淏天、瀚棠置业、临沂国科、长兴创强基金、山东 ...

Core Insights - DeepWay has completed a Pre-IPO financing round of 1.177 billion yuan, led by PwC Capital, with participation from multiple investors [1] - The funds will primarily be used for the operation and development of the company's core business [2] - DeepWay aims to transition from policy-driven to market-driven growth in the new energy heavy truck sector, with significant market potential projected [2] Company Overview - Founded in July 2020, DeepWay's core shareholder is Baidu, with its CEO being the founder of logistics company Lion Bridge Group [2] - The company has launched three models of new energy heavy trucks and is the exclusive partner of Baidu's intelligent driving technology in the commercial vehicle sector [2] - DeepWay has completed four rounds of financing, totaling over 3.1 billion yuan [2] Market Dynamics - The new energy heavy truck market is experiencing explosive growth, with total sales reaching 231,100 units in 2025, a year-on-year increase of 182% and a market penetration rate of 28.89% [2] - Industry forecasts predict that the penetration rate of new energy heavy trucks will reach 35% by 2026 and exceed 50% by 2030, with the market size expected to surpass 250 billion yuan [2] Competitive Landscape - The industry participants are categorized into two groups: traditional companies like China National Heavy Duty Truck Group and FAW Jiefang, which are transitioning to new energy, and new energy heavy truck "new forces" like DeepWay [2] - DeepWay differentiates itself by focusing on a forward-thinking design philosophy and has achieved self-research in key components [3] Technological Advancements - DeepWay has delivered approximately 6,400 new energy heavy trucks as of June 2025 and is advancing the large-scale application of its auxiliary driving systems [3] - The company employs a subscription model for its intelligent driving services, with increasing rates of subscription for its latest models equipped with L2-level auxiliary driving hardware [3] - DeepWay is conducting tests for autonomous driving in various regions and aims for large-scale deployment of intelligent convoy systems [3] Investment Perspectives - Investors recognize DeepWay's systematic advantages in intelligent driving, emphasizing the integration of vehicle and driving technology for high reliability and safety [4] - The company is seen as a potential leader in the future of intelligent road freight due to its unique strategic path and strong technological barriers [4] - DeepWay's mission aligns with investor goals of reducing emissions and decarbonizing the freight sector through innovative electric and intelligent technologies [5]

2025年，我国新能源重卡市场火爆异常，月销量屡创新高，全年销量超过23万辆，同比暴涨182%。 这其中，哪些细分市场贡献最大？占比近7成的充电重卡无疑是最重要的存在之一，而在充电重卡市场连续多年称霸的三一重卡又是其 中最主要的贡献者和推动者。 请看第一商用车网的分析解读。 要说充电重卡，就绕不开与充电重卡互为补充的换电重卡。根据第一商用车网掌握的数据，2022年是换电重卡人气最旺的一年，当年充 电重卡与换电重卡销量比约为45：55（注：指纯电动重卡销量中充电/换电比），这也是迄今唯一一次换电重卡占比超过充电重卡。之 后三年，充电重卡占比逐年上升，2023年-2025年，充电/换电重卡销量比分别为52:48、63:37以及70:30。而无论充电重卡与换电重 卡占比如何此消彼长，充电重卡市场都只有一个冠军——三一重卡。 2025全年销超3万辆，连续四年份额超20%摘冠 对新能源重卡行业稍微有些了解的人应该都知道，近两年随着动力电池技术的进步以及超快充技术的普及，充电重卡的适用场景越来越 广，各重卡主机厂，包括前两年"押宝"换电重卡的企业纷纷加大对充电重卡（尤其是大电量重卡）的投入，市场竞争的激烈程度较前两 年早 ...

Core Viewpoint - In 2025, FAW Jiefang continued to lead the industry in brand building and marketing promotion, achieving significant sales growth and market share, while also making strides in technology and innovation [1][4][10]. Group 1: Sales and Market Performance - FAW Jiefang's total vehicle sales exceeded 280,000 units in 2025, marking a year-on-year increase of 10.3%, maintaining positive growth for three consecutive years [4]. - The sales of medium and heavy trucks reached 255,000 units, with a domestic market share of 22.5%, solidifying its position as the industry leader [4]. - In the new energy segment, sales reached 45,000 units, representing a remarkable year-on-year increase of 185%, continuing a trend of doubling sales for three consecutive years [4]. - The company exported over 60,000 units, achieving a year-on-year growth of 5.2%, and ranked second in the industry for exports, with the highest compound growth rate [4]. Group 2: Product Innovation and Technology - FAW Jiefang launched 129 new products in 2025, significantly improving quality metrics through a "three-year quality campaign" [6]. - The company introduced advanced products such as the J6G Pro series and the "Eagle Array" series, which cater to diverse logistics scenarios [8]. - The launch of the liquid hydrogen heavy truck in December 2025 marked a significant technological achievement, demonstrating a range of over 1,000 kilometers and contributing to the commercialization of liquid hydrogen technology [10]. Group 3: Strategic Partnerships and Orders - FAW Jiefang established long-term strategic partnerships, securing significant orders such as a 3,500-unit agreement for new energy heavy trucks with Xinjiang Jiuzhou Hengchang [11]. - In April, the company achieved a record order of 10,000 units for J6L pure electric vehicles, setting a new benchmark for single-category orders in the heavy truck sector [11]. - The company continued to attract attention with large orders throughout the year, including 1,858 units from logistics companies in September and 6,000 units during a live broadcast event in November [13]. Group 4: Brand Promotion and Market Expansion - FAW Jiefang kicked off its brand promotion at the Shenzhen International Commercial Vehicle Expo, enhancing its market penetration in Southern China [15]. - The company held multiple events throughout the year to deepen its ecological layout, including the launch of the "Jiefang Green Movement" brand, which signifies a new model integrating vehicles, aftermarket, and green ecology [15]. - The year concluded with the 2026 Global Partner Conference, where FAW Jiefang set its sales targets and showcased its strategic plans, further solidifying its industry leadership [17].

Core Viewpoint - The article highlights the strong performance and market leadership of XCMG's new energy heavy trucks in 2025, emphasizing their significant sales growth and industry influence [1][3]. Sales Performance - In 2025, XCMG's new energy heavy truck sales reached 35,400 units, a substantial increase of 147% year-on-year, capturing a market share of 15.3%, thus securing the top position in the industry [3][5]. - The overall market for new energy heavy trucks saw a total sales volume of 231,100 units, reflecting a year-on-year growth of 182% [5]. Market Dominance - XCMG has established a strong market presence across various segments, including traction and dump trucks, particularly in key applications such as ports, steel mills, and construction sites [6]. - The company's vehicles are recognized for their reliability and economic benefits, leading to high customer satisfaction and repeat purchases [6]. Ecosystem and Competitive Advantage - XCMG has shifted from a product-centric approach to a customer value-driven ecosystem, providing comprehensive solutions that address the entire lifecycle of the vehicles [8]. - The company has developed a robust operational ecosystem that includes full-scene equipment, charging solutions, customized financing, and intelligent management, effectively addressing user concerns such as high initial costs and charging efficiency [8][11]. Service and Support - XCMG prioritizes service assurance as a foundation for customer operations, with a nationwide service network and a 24-hour rapid response mechanism to address operational issues promptly [9]. - The "XCMG e-Road" intelligent management platform offers real-time monitoring and proactive maintenance, enhancing fleet efficiency and customer trust [9]. Product Strength - The technical capabilities of XCMG's new energy heavy trucks are highlighted, particularly in power, economy, reliability, and safety, which are crucial for customer confidence and repeat purchases [13]. - Innovations such as a fully liquid-cooled powertrain system and advanced torque control enhance operational efficiency and safety, addressing challenges in demanding conditions [13][15]. Conclusion - XCMG has achieved consecutive annual sales leadership in the new energy heavy truck market from 2023 to 2025, reflecting its commitment to technology-driven solutions and ecosystem development [16][17]. - The company is positioned to lead the green transformation of transportation in China, leveraging its strong product technology and customer-centric approach to create value for clients [17].