| | 本报告期 | 上年同期 | | 本报告期 比上年同 | | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 期增减 | | | | | | 调整后 | | 营业收入 | 28.078.705.058.07 | 35.602.292.639.46 | 36.465.688.621.29 | -23.00% | | (元) | | | | | | 归属于上市公 司股东的净利 | 19.655.810.39 | 478.251.870.50 | 506,807,530.06 | -96.12% | | 润(元) | | | | | | 归属于上市公 司股东的扣除 非经常性损益 | -376,637,639.18 | 283.875.823.95 | 283.875.823.95 | -232.68% | | 的净利润 | | | | | | (元) | | | | | | 经营活动产生 的现金流量净 | 7.635.289.020.71 | 4.240.930.055.62 | 4.420.911.705.11 | 72.71% | | 额(元) | | | ...

点击蓝字 关注我们 政策法规 市场洞察 企业监测 东风柳汽：乘龙载货车新能源，专为快递快运、冷链及配件 运输等场景打造 (总第0117期 2025年8月第3周) 乘联分会&科瑞咨询联合发布 新能源商用车周报 ■目录 CONTENTS 交通运输部：《新一轮农村公路提升行动 方案》发布,利好快递物流 多地货车报废补贴生变：沪川渝推行新政, 内蒙古全区暂停 广东省交通厅：提升电动汽车维修经营管 . 理工作水平 1-7月国内新能源重卡自卸车同比增长71.2%, 渗透率达34.7% 纯电动为主流路线，占比超95％ · 新能源重卡自卸车销量集中在西南区域, 广州、 • 昆明等是市场增量主力 徐工、三一持续保持领先地位，市场竞争加剧 . 江淮汽车：推出三款电动商用车，正式进军印尼市场 森萨塔科技：推出多组合高效接触器，实现 400V/800V电 动汽车无缝充电兼容 政策法规 交通运输部:《新一轮农村公路提升行动方案》发布,利好快递物流 近日，交通运输部、财政部、自然资源部印发《新一轮农村公路提升行动方案》，部署实施新一轮农村公路提升行动的相关工作，着力解决农 村公路技术等级偏低、路网质量不高、管理养护跟不上等突出问题，持续 ...

7月份，国内牵引车终端销量同比大增32%，收获 "4连增"。7月过后，2025年牵引车累计销 量同比增长20%，较去年同期净增长约3.8万辆。 请看第一商用车网的分析报道。 2025年7月份，牵引车终端市场仍然没有企业销量破万，解放以8373辆蝉联月榜第一；重汽 和福田分别销售5964辆和5527辆，排名2、3位；东风和陕汽排名月榜第4、5位，销量均超 4000辆，分别达到4544辆和4253辆。 7月实销3.5万辆，环比下降8%，同比增长32% 根据第一商用车网最新掌握的终端销量数据，2025年7月份，国内牵引车实销3.50万辆（交 强险口径，不含出口和军品，下同），环比今年6月份下降8%，同比增长32%，同比增速较 上月（+49%）有所缩窄，比去年7月份多销售约8400辆。7月份，重卡整体实销同比增长 39%，牵引车32%的同比增速比重卡整体增速低7个百分点，跑输重卡市场"大盘"。 2025年7月份，牵引车市场3.50万辆的销量在整个重卡市场终端销量的占比约为54.41%，较 上月（54.97%）略微下滑，比2024年全年占比（53.10%）高1.31个百分点。从数字上看， 3.50万辆的月销量并不高，7 ...

Group 1 - The company, Funeng Technology, has received a project designation notification from a leading domestic new energy commercial vehicle customer, indicating that supply will begin in 2026 based on the customer's sales forecast and arrangements [4][5]. - The project model will utilize lithium iron phosphate batteries designed based on the SPS (Super Punch Solution) battery solution, which signifies an increase in market recognition for the company's SPS battery products [5]. - This notification marks a further breakthrough for the company's SPS lithium iron phosphate batteries in the new energy commercial vehicle sector [5].

Industry Insights - Foton Motor launched the Aoling new energy product matrix, addressing key pain points for logistics users such as complex purchasing processes, range anxiety, and slow maintenance response, by introducing a closed-loop ecosystem of "vehicle + pile + light + storage + load + intelligence" [3] - Jianghuai Automobile successfully conducted the first national joint debugging of the "chocolate" battery swap commercial vehicle, achieving a battery swap time of 150 seconds [4] - Yuancheng New Energy officially launched the Yuancheng Star Enjoy V7E, marking the third model in its VAN champion family, based on a new "third-generation urban new energy light vehicle platform" [6] Product Analysis - The light truck market is seeing a shift towards differentiation between large battery (above 110 kWh) and smaller battery (below 80 kWh) electric light trucks, with major sales models expected to include Yuancheng Star Wisdom and BYD T5 [9] - The small truck market is upgrading towards electric models with battery capacities above 60 kWh [11] - The micro truck market is experiencing a decline across all fuel types, with new energy penetration remaining low at only 1.2% [13] - The small electric truck market is rapidly shifting from below 60 kWh to above 60 kWh, with key sales models including Geely Yuancheng Star Wisdom F5E and Dongfeng Kaipute EV180 [14] - The light passenger vehicle market has surpassed 60% penetration for new energy, with cargo volume shifting towards 7-8 cubic meters [16] Sales Forecast - Economic factors such as insufficient domestic market demand and consumer confidence are impacting sales, with light commercial electric vehicles becoming the mainstay of the market [18] - The overall light commercial vehicle market is expected to maintain steady growth in 2025, with a projected total sales volume of 2.81 million units, reflecting a year-on-year increase of 3.1% [20]

Group 1 - BYD Commercial Vehicles signed a strategic cooperation agreement with JD Automotive on August 12, aiming to deepen collaboration in the electric commercial vehicle sector [1][3] - The penetration rate of electric commercial vehicles has increased from single digits to double digits, indicating rapid growth in the market [3] - BYD is the only commercial vehicle company that possesses the core technology of "three electrics and one core," which includes self-developed products and a comprehensive industry chain layout [3] Group 2 - JD Automotive has shown significant growth in its government and enterprise business platform and plans to promote BYD commercial vehicles in sectors such as energy and tobacco [3] - The partnership will also leverage JD Group's advantages in insurance and supply chain management to enhance the entire commercial vehicle value chain [3] - In July, BYD and JD Automotive signed another strategic cooperation agreement focusing on upgrading BYD's brand and after-sales service on JD's platform [3][4]

Domestic News - The joint statement from the China-US Stockholm Economic and Trade Talks was released, indicating a temporary suspension of tariffs on certain goods for 90 days starting August 12, 2025, while retaining a 10% tariff on the remaining goods [3] - The Ministry of Finance, the People's Bank of China, and the Financial Regulatory Bureau issued a policy for personal consumption loan interest subsidies, effective from September 1, 2025, to August 31, 2026, covering various consumer sectors [4] - In July 2025, the industrial producer price index decreased by 0.2% month-on-month, with a year-on-year decline of 3.6%, indicating a narrowing of the decline compared to previous months [5] - Jilin Province is initiating the first batch of talent pool recruitment focused on key industries such as new energy vehicles and artificial intelligence [6] - GAC Group announced the upcoming release of its new "Star Source" range extender technology aimed at addressing the long-standing issues of range-extended electric vehicles [7] - Zeekr and Geely Holding Group announced a patent for anti-motion sickness technology, enhancing the driving experience [8] - NIO's G318 Tibet charging route will be fully operational on August 16, 2025, with 15 battery swap stations along the route [9] - Huawei's Qian Kun intelligent driving system has reportedly avoided over 2.54 million potential collisions as of July 31, 2025 [10] International News - Global electric vehicle sales growth slowed to 21% in July 2025, attributed to a decline in sales momentum for plug-in hybrid vehicles in China [12] - South Korea's car imports increased by 23% in July 2025, with Tesla leading the market [13] - Tesla opened its second showroom in India in New Delhi, alongside a new supercharging station [14] - Mahindra & Mahindra is expanding its operations in South Africa, increasing production capacity to meet demand for economical vehicles [16] Commercial Vehicles - The Ouman Galaxy series heavy trucks were launched in Changchun, with significant market recognition demonstrated by 186 initial orders [17] - The 2025 Wuhan Commercial Vehicle Exhibition is scheduled for November 10-13, 2025, focusing on high-end, intelligent, and green vehicle solutions [18] - JAC's electric pickup truck, the Han Tu EV, was successfully delivered to a Singaporean airline, marking a significant step in the international market [19] - Jiangling Group's vehicle exports to Latin America increased by 32.6% year-on-year, with a total of 36,813 units exported in the first seven months of 2025 [20]

Core Viewpoint - The article highlights the significant growth in the export of new energy commercial vehicles, particularly electric trucks, and discusses the challenges faced by Chinese automotive companies in international markets. Policy and Regulations - The National Certification and Accreditation Administration has released new regulations for mobile power supply certification, effective from August 15, 2025, which includes a new grading system for production enterprises [8][9]. - The National Development and Reform Commission has allocated 200 billion yuan for equipment updates under the "old for new" policy, with 86.5% of the first batch of funds already distributed [10][11]. Market Insights - In the first half of 2025, the export of new energy trucks reached 43,400 units, marking a 223% year-on-year increase, with a penetration rate of 9.1% [16][20]. - South Asia and Oceania emerged as the largest export markets, with a staggering growth of 3765.3% [21][20]. - Australia was the top export destination, with sales of 16,600 units, reflecting a 3475.4% increase [23][21]. Company Monitoring - SAIC Maxus launched the 2026 Starry Pickup family, introducing the "Star Stack Platform" designed specifically for pickups [45][49]. - Modern Automotive unveiled a new hydrogen fuel cell bus with a range of 960 kilometers, enhancing its product lineup in the clean energy sector [32][37]. - Jianghuai Commercial Vehicles released the Jianghuai 1van series, targeting various operational scenarios with a comprehensive product matrix [43][44].

Core Viewpoint - The heavy truck market in China is showing signs of recovery despite the traditional off-season in July, driven by the "two new" policies, with the "Heavy Truck First Influence Index" reflecting a significant increase in brand influence scores compared to previous months and the same period last year [1][4]. Group 1: Heavy Truck Influence Index - In July 2025, the total score of the "Heavy Truck First Influence Index" for nine major heavy truck brands reached 2556 points, a 17.25% increase from June and a 20.34% increase year-on-year [1]. - The average weekly score for July showed a slight decline compared to the previous month, which is considered normal due to seasonal factors and extreme weather conditions [1]. Group 2: Brand Performance - The top three brands in the July "Heavy Truck First Influence Index" were: 1. FAW Jiefang with a score of 575 2. China National Heavy Duty Truck Group (CNHTC) with a score of 528 3. Dongfeng Commercial Vehicle with a score of 354 [2][16]. - FAW Jiefang announced investments totaling 498 million RMB in eight countries and reported a projected net profit of 22 million RMB for the first half of 2025 [6]. - China National Heavy Duty Truck Group achieved significant growth in all operational indicators and delivered 200 units of the V7-X new energy heavy truck in Chengdu [8]. Group 3: Industry Developments - Dongfeng Commercial Vehicle held various events, including a skills competition and a significant vehicle delivery for a coal transportation project, showcasing its commitment to quality and service [10][12]. - XCMG Automotive made strides in the new energy sector, establishing a strategic alliance for innovation in the new energy commercial vehicle industry [17]. - The heavy truck industry is expected to see renewed activity in August, as brands prepare for the peak season [20].

Core Viewpoint - The article highlights the rapid growth and increasing market presence of new energy VAN vehicles in the logistics and transportation industry, with various manufacturers launching innovative models to meet diverse operational needs [1][2]. Group 1: New Energy VAN Models - Jianghuai's 1van series includes three main product lines: Blue Cat (6-7 cubic meters), Van Baolu (over 8 cubic meters), and the Kara unmanned vehicle, targeting urban logistics and multi-purpose applications [4][5]. - Foton's Xiangling U7, a pure electric model, offers a spacious design and features a self-developed semi-solid-state battery with two configurations (40.18 kWh and 50.23 kWh), achieving a maximum range of 360 kilometers [7][9]. - The Farizon Super VAN series, including X-VAN and Chuan Hydrogen Super VAN, focuses on diverse market needs, offering solutions for camping, commercial use, and cost-effective ownership [11][13]. Group 2: Market Trends and Innovations - Dongfeng's Rui Lida emphasizes high cargo capacity with models like V5 (6.61 cubic meters) and V7 (7.27 cubic meters), designed for efficient loading and unloading, and features a comprehensive range of over 310 kilometers [14][16]. - Changan's Kai Cheng V919 offers eight different versions, featuring a long range of 470 kilometers and low energy consumption of 16.5 kWh per 100 kilometers, significantly reducing operational costs compared to fuel vehicles [17][20]. - Skyworth's Hongtu, a multifunctional pure electric VAN, aims to provide efficient solutions for global logistics and passenger transport, featuring a modular design and a cargo space of 14 cubic meters [21][23]. Group 3: Competitive Landscape - Foton's Tuyano X5 introduces a versatile platform compatible with fuel, pure electric, and hybrid technologies, achieving a maximum range of 520 kilometers and the lowest energy consumption in its class at 17.7 kWh per 100 kilometers [24][26].