Core Viewpoint - The article highlights the successful bid of CRRC Times Electric Vehicle Co., Ltd. for the procurement of 11-meter pure electric city buses by Baotou Public Transport Group, with a winning bid of 15.196 million yuan [1][2]. Group 1 - The procurement project involves 11-meter pure electric city buses designated for public transport in Baotou [1][2]. - The winning bid was awarded to CRRC Times Electric Vehicle Co., Ltd., indicating strong competition in the bidding process [1][2]. - The bid amount is reported to be 15.196 million yuan, showcasing the financial commitment to electric public transport solutions [1][2]. Group 2 - The announcement of the bid results was published on the China Tendering and Bidding Public Service Platform and the Inner Mongolia Tendering and Bidding Public Service Platform [2]. - The supervisory department for this project is the Baotou Public Transport Group, ensuring compliance and oversight [2].

在全球倡导绿色交通、节能减排的大背景下，新能源商用车凭借零排放、低能耗等优势，成为交通运输领域实现"双碳"目标的重要力量。有数 据显示，截至到今年5月份，新能源商用车市场表现出强劲的增长势头，其中新能源重卡累计销售了5.1万辆，同比增长195%。面对市场结构的剧烈 变化，向新能源化迈进已成为商用车行业的共识。除了整车企业在紧锣密鼓地布局新能源业务的同时，作为连接整车企业与终端用户核心纽带的经 销商也在向新能源转型。在新旧经销模式存在本质差异的前提下，那些"油转电"的卡车经销商如今过得怎么样？ 转型不仅是生存必需更是大势所趋 "今年以来，重卡市场还是没有迎来实质性改变，唯一有点起色的是新能源重卡，成为了最近这一两年中增速最快的细分市场，目前来看，抓住新能源 转型机遇或将是当下最好的选择。"在走访北京重卡市场时，北京房山的一家重卡经销商相关负责人马志军告诉《中国汽车报》记者，在政策和市场的双重 驱动下，重卡行业正经历着一场深刻的变革，曾经以传统燃油重卡销售为主业的经销商们，纷纷踏上"油转电"的转型之路。 "目前来看，虽然我们在燃油重卡市场还有着一定的份额，然而随着市场的变化和政策的推动，我们也不得不开始考虑转型新 ...

Group 1 - The 2025 China Langfang International Economic and Trade Fair (Langfang Economic Fair) opened on June 16, attracting over 550 enterprises from nearly 30 countries and regions [1] - The fair is the only professional exhibition in China focused on modern commercial logistics, with its origins dating back to 1984 [3] - The event aims to expand investment cooperation, promote trade transactions, boost consumption, and drive high-quality development in modern commercial logistics [3] Group 2 - During the fair, several key reports were released, including the "China Commercial Logistics Development Report" and the "China Cross-Border E-Commerce Annual Development Report" [3] - The fair features a 60,000 square meter exhibition area with four main sections: integrated import and export goods exhibition, smart logistics technology and equipment exhibition, new energy vehicle exhibition, and a multi-format consumer market [3] - Nearly 8,000 buyers were invited to participate, aiming to enhance consumption and facilitate production and sales connections [3] Group 3 - Chery Commercial Vehicle (Bozhou) Co., Ltd. showcased a newly launched box truck aimed at solving the "last mile" delivery issue during the fair [5] - YTO Express, one of the first domestic express companies to enter the international market, is looking to expand its overseas business through the platform provided by the fair [5]

证券研究报告 汽车周观点： 6月第1周乘用车环比-22.6%，继续看好汽车板块 证券分析师 ：黄细里 执业证书编号：S0600520010001 联系邮箱：huangxl@dwzq.com.cn 2025年6月16日 请务必阅读正文之后的免责声明部分 核心结论 注：若无特殊说明，"本周"均代表2025.6.9-2025.6.15 2 ➢本周复盘总结：六月第一周交强险35.5万辆，环比上周/上月周度-22.6%/-14.8%。 ◼ 本周细分板块涨跌幅排序:SＷ商用载货车(+10.7%) >SW摩托车及其他(+2.0%) >SW 商用载客车(+0.4%) > SW汽车（-0.8%）>SW汽车零部件(-1.6%)> SW乘用车(+2.0 %) 。本周已覆盖标的江淮汽车、春风动力、威迈斯、上汽集团、中国重汽涨幅前五。 （ ◼ 本周团队研究成果：外发AI+汽车智能化系列之十二——理想汽车核心竞争力剖析、精 锻科技、隆鑫通用、福耀玻璃专题第六篇深度。 ◼ 本周行业核心变化：1）多家车企将供应商支付账期调整至60天以内；2）地方补贴暂 停，目前基于我们统计大概补贴受影响城市占总体汽车销量比例低于10%；3）小鹏G 7亮相， ...

Core Viewpoint - Chongqing aims to establish a comprehensive electric vehicle (EV) pilot zone in the public sector by the end of this year, promoting a significant number of new energy vehicles across various categories [1][4][6]. Summary by Sections Development Goals - By the end of 2025, Chongqing plans to promote over 180,000 new energy vehicles in the public sector, with electric vehicle adoption rates exceeding 90% for public service vehicles and 80% for sanitation and postal vehicles [6][7]. - The city aims to build over 48,000 public charging stations and 240 battery swap stations, enhancing the charging infrastructure significantly [6][8]. Key Tasks - **Public Service Vehicles**: Promote 4,500 new energy public service vehicles by 2025, with a focus on government agencies leading the transition [7]. - **Urban Buses**: Target 6,500 new energy buses by 2025, encouraging innovative procurement models [7]. - **Taxis**: Promote 11,000 new energy taxis and 95,000 ride-hailing vehicles by 2025, with a focus on battery swap operations [7]. - **Sanitation Vehicles**: Aim for 300 new energy sanitation vehicles by 2025, exploring new ownership models [7]. - **Logistics Vehicles**: Promote 600 postal vehicles, 1,000 express delivery vehicles, and 60,000 urban logistics vehicles by 2025 [7]. - **Specialized Vehicles**: Target 4,000 specialized vehicles for specific scenarios, including airports and construction sites [7]. Infrastructure Development - **Intercity Charging Network**: Enhance charging infrastructure along highways and service areas, aiming for full coverage of supercharging facilities by 2025 [8]. - **Urban Charging Network**: Develop a comprehensive urban charging infrastructure, targeting over 48,000 public charging stations by 2025 [8]. - **Rural Charging Network**: Focus on building charging stations in rural areas to support the adoption of new energy vehicles [8]. Innovation in Technology and Models - Promote the application of advanced charging technologies, including high-power charging and vehicle-to-grid (V2G) capabilities [8]. - Encourage the integration of new energy vehicles with the power grid, supporting smart charging and energy management systems [8]. Support Measures - **Coordination**: The Economic Information Commission will oversee the electric vehicle initiative, ensuring collaboration among various departments [9]. - **Policy Support**: Implement financial incentives for electric vehicle adoption, including tax reductions and subsidies [9]. - **Demonstration and Promotion**: Encourage local districts to create distinctive electric vehicle pilot areas and promote awareness through events and forums [10].

公司今年 1-5 月份的产销情况良好，产销量与去年同期相比均保持增长态势，整体好于行业水平。同 时，公司产品依托重汽国际公司实现出口，目前依然保持良好态势。 截至2025年6月13日收盘，中国重汽（000951）报收于17.28元，较上周的17.76元下跌2.7%。本周，中 国重汽6月10日盘中最高价报18.15元。6月13日盘中最低价报17.17元。中国重汽当前最新总市值203.02 亿元，在商用车板块市值排名5/13，在两市A股市值排名760/5150。 本周关注点 机构调研要点 6月9日特定对象调研 公司董事会秘书张欣女士简要介绍了公司情况，并就投资者关心的问题进行了沟通和交流。主要内容如 下： 随着今年 3 月国家持续推出针对老旧运营货车"以旧换新"的新政策，天然气重卡也被纳入报废及新购补 贴范围，新的政策变化有助于加速老旧车辆的淘汰更新，对新能源和天然气重卡市场也有一定的推动作 用，促进行业向绿色、高效方向转型升级。公司将继续把握政策机遇，强化技术创新与市场开拓，推动 业务高质量发展。 根据第一商用车网数据，2025 年 1-5 月，我国新能源重卡累计销售 5.1 万辆，同比大增 195%。在政策 ...

Core Insights - The event showcased the global debut of the "methanol-hydrogen electric" technology by the company, highlighting its potential as a new engine for zero-carbon transportation in Hong Kong [2][5] Group 1: Product Launch and Features - The company introduced the U12M methanol-hydrogen electric bus, specifically designed for the Hong Kong market, featuring a range of over 700 kilometers and a large methanol tank [2] - The methanol-hydrogen electric vehicles offer advantages over traditional electric and fuel-powered vehicles, including longer range, faster refueling, and lower emissions [2] - The operational cost of the methanol-hydrogen electric vehicle is reduced by 32%-52% compared to fuel vehicles, with significant reductions in PM pollutants, carbon monoxide, and nitrogen oxides [2] Group 2: Green Methanol Ecosystem - The company is building a comprehensive green methanol ecosystem, covering carbon capture, methanol production, transportation, refueling, and vehicle integration [3] - The methanol refueling stations can be adapted from existing gasoline stations, making it a more feasible solution compared to the extensive infrastructure required for electric vehicles [3] - Collaborations with major oil companies for methanol refueling stations are already in operation, providing a practical path for energy transition in Hong Kong [3] Group 3: Additional Innovations - The company introduced a clean energy mobile power vehicle that uses methanol to generate electricity, addressing charging anxieties for electric vehicle owners [4] - Hong Kong is positioned as a leading market for methanol-hydrogen applications, with significant global orders for methanol-powered vessels already in place [4] - The company has developed the first methanol-hydrogen electric ship solution, achieving significant cost reductions and pollution decreases compared to traditional vessels [4] Group 4: Market Potential and Future Outlook - The company's presence at the auto show signifies a breakthrough in China's new energy commercial vehicle technology and aligns with Hong Kong's green transition goals [5] - With ongoing government support for carbon neutrality and green transportation, the company is poised to collaborate closely with the Hong Kong market to establish a new transportation energy system centered around green methanol [5] - The company aims to promote methanol energy globally, with Hong Kong potentially serving as a model market for future expansion [5]

远程新能源商用车全新一代纯电VAN车全球首秀，或将颠覆行业标准。 6月12日-15日，以"新汽车·新征程"为主题的2025国际汽车及供应链博览会（香港）（下文 简称"香港车展"）在香港亚洲国际博览馆举办。此次展会，远程新能源商用车携其全新一代纯 电VAN车——星享V7E重磅亮相，并完成全球首秀。 7.5方大空间+375公里长续航 远程打造VAN全新力作 此次，远程新能源商用车全新一代纯电动VAN类车型选择在中国香港首秀，是其国际化战略布 局的体现，也是有意借力香港车展链接全球合作商机，从而辐射亚太地区，助力其新能源商用 车产品的推广和品牌的国际化。 第一商用车网了解到，作为中国新能源VAN家族的又一全新力作，远程全新一代纯电动VAN星 享V7E将凭借三大优势，重新定义中系VAN市场新标准。 其一，远程星享V7E拥有7.5立方米大空间，助力用户多拉多赚。在当前竞争激烈的物流市 场，车多货少已经成为行业现状。那么，对用户来说，单趟能多拉货物便成为他们高效运营的 一大秘诀。 此次，远程全新发布的星享V7E，整车尺寸为5000mm×1820mm×1985mm，货厢内长 2870mm，内高1475mm，货厢空间更是达到 ...

Core Viewpoint - In May 2025, the heavy truck market achieved a total sales volume of approximately 88,700 units, reflecting a year-on-year growth of 14%. However, the tractor market, a significant segment of the heavy truck market, showed only a slight increase of 0.2% year-on-year, continuing to lag behind the overall market performance for three consecutive months [1][4][26]. Market Performance - The tractor market sold 43,500 units in May 2025, marking a month-on-month increase of 2% and a year-on-year increase of 0.2%. This is a recovery from a previous decline of 6% in April [3][4][10]. - Cumulatively, from January to May 2025, the tractor market recorded total sales of 221,300 units, which is a slight decrease of 3% compared to the same period last year [8][18]. Historical Trends - Over the past five years, the tractor market has exhibited a pattern of decline followed by growth in May sales. The sales volume in May 2025 ranks as the second highest in the last five years, but it is still significantly lower than the peak sales of 82,500 units in May 2021 [6][8]. Company Performance - In May 2025, China National Heavy Duty Truck Corporation (重汽) led the tractor market with sales of 11,800 units, capturing a market share of 27.14%. Other notable performers included FAW Jiefang (一汽解放) with 8,416 units and Shaanxi Automobile Group (陕汽集团) with 7,966 units [10][12]. - Among the top ten companies in the tractor market, nine experienced year-on-year sales growth, while only one company saw a decline of 26% [10][15]. Market Share Dynamics - The top ten companies in the tractor market accounted for 99.28% of total sales in May 2025, with the top five companies alone holding nearly 90% of the market share [15][23]. - The market share of the leading companies has shifted slightly, with notable increases for companies like Xugong (徐工) and Farizon (远程), which saw year-on-year growth of 178% and 121%, respectively [20][23]. Future Outlook - The heavy truck market is expected to continue evolving, with the tractor market's performance in June 2025 being closely monitored to see if it can outperform the overall heavy truck market [26].

Core Viewpoint - Toyota and Daimler Trucks have reached a business merger agreement, aiming to complete the integration of their respective truck manufacturing subsidiaries by April 2026, which is seen as a strategic response to industry challenges such as electrification and stricter emissions regulations [2][3][6]. Group 1: Merger Details - The new holding company will be jointly owned by Toyota and Daimler Trucks, each holding 25% of the shares, consistent with a previous agreement [3]. - As part of the merger, Hino Motors will issue new shares and transfer its Hamura plant to Toyota for 150 billion yen (approximately 1 billion USD) [3]. - The merger is expected to create a new company with an annual sales volume exceeding 230,000 units, positioning it as a leader in the Asian truck market [5]. Group 2: Strategic Rationale - The merger is driven by external pressures including electrification, environmental regulations, and rising costs, making it difficult for single companies to bear the financial burden alone [6]. - Internally, the complementary strengths of Hino Motors in the Asian market and Mitsubishi Fuso's technological advantages in heavy trucks and electrification will enhance operational efficiency [6]. Group 3: Market Impact - The merger will shift the companies from regional competitors to global players, with over 60% market share in Japan and 35% in Southeast Asia [7]. - The combined entity plans to invest 20 billion USD in electric truck technology over the next five years, aiming for significant advancements in battery technology and autonomous driving [7]. Group 4: Future Plans - The new company plans to go public on the Tokyo Stock Exchange by April 2026, potentially raising 50-80 billion yen for smart factory upgrades and charging infrastructure [8]. - The merger signifies a broader trend in the commercial vehicle industry towards strategic alliances, reflecting the need for resource integration and collaboration in the face of market challenges [8][9].