本文源自：金融界 作者：行情君 7月29日，玉柴国际(CYD)盘中上涨2.12%，截至22:10，报23.62美元/股，成交56.86万美元，总市值8.86 亿美元。 财务数据显示，截至2024年12月31日，玉柴国际收入总额191.34亿人民币，同比增长6.02%；归母净利 润3.23亿人民币，同比增长13.15%。 资料显示，中国玉柴国际有限公司(CYI)是一家成立于1993年4月29日的百慕大控股公司。CYI是总部位 于新加坡的丰隆亚洲有限公司 的子公司。公司在中国开展业务并在纽约证券交易所上市。集团主要经 营的子公司广西玉柴机械有限公司(" GYMCL")是中国最大的发动机制造商之一。GYMCL位于中国南 部的广西壮族自治区玉林市,从事各种轻型、中型和重型发动机的制造、组装和销售,适用于卡车、客 车、乘用车、建筑设备、海洋和农业应用。GYMCL还为柴油发电机生产发动机。GYMCL生产的发动 机范围从柴油到天然气和混合动力发动机。GYMCL通过其区域销售办事处和授权的客户服务中心,将其 发动机直接分销给原设备制造商和零售商,并在中国各地提供维修和改装服务。 ...

中证报中证网讯（记者 张鹏飞）近日，记者从山东重工获悉，该集团2025上半年业绩向好，旗下潍柴 数据中心发电机组销量同比增664%。 据悉，大缸径发动机技术壁垒极高，长期被国际巨头垄断。山东重工旗下潍柴动力（000338）敏锐地洞 察到全球数据中心市场的巨大潜力，果断决策、提前布局，组建顶尖的专业团队，潜心攻关十余年，实 现"从0到1"的突破，并先后推出M33、M55全新平台大缸径高速发动机，持续升级产品谱系与结构，精 准满足行业对更高功率密度的需求，填补国内技术空白。山东重工瞄准全球产业链高端，优化市场布 局，为传统产业发展寻找"新质"动能，开辟了第二增长曲线。 在高效协同方面，山东重工充分发挥"大集团"资源优势，建立了从销售、研发、采购到交付的全链条联 合作战模式，确保高效协同资源，数据中心机组月产能提升200%。建立周二、周四数据中心订单评审 会，第一时间破解交付梗阻。通过优化生产组织、数字化改造等，将交货周期压缩75%，全力满足客户 需求。墨西哥客户从签约到交付仅用2个月，较国际品牌10个月周期实现超越。更创造27天交付16台定 制数据中心机组的纪录——从技术对接、方案分解到整机试车验收，以"一客户一 ...

Core Viewpoint - Weichai Power (02338) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Summary by Categories Company Actions - The company plans to repurchase 769,900 A-shares at a total cost of RMB 11.7417 million [1] - The buyback price range is set between RMB 15.23 and RMB 15.27 per share [1] Financial Implications - The total expenditure for the buyback reflects the company's strategy to enhance shareholder value [1]

潍柴动力（000338）(02338)发布公告，于2025年7月29日该公司斥资人民币1174.17万元回购76.99万股A 股，回购价格为每股人民币15.23-15.27元。 ...

Group 1 - The company Weichai Power (02338.HK) announced a share buyback plan, intending to repurchase 769,900 A-shares at a total cost of 11.7417 million RMB [1] - The buyback price per share is set between 15.23 and 15.27 RMB [1]

Group 1 - UBS downgraded Weichai Power's rating from Buy to Neutral, while raising the target price from HKD 18.2 to HKD 18.5 [1] - Weichai Power's stock price has increased by 50% year-to-date, outperforming the Hang Seng Index, and is approaching UBS's previous target price [1] - The current price reflects positive outlooks on data center engine demand and improved investment sentiment driven by equipment replacement subsidies [1] Group 2 - UBS has reduced its earnings forecasts for Weichai Power for 2025 to 2027 by 2% to 5% due to ongoing weakness in traditional engine business impacted by electric truck penetration [1] - The company’s large-bore engines are in a structural growth phase driven by data center demand, with profits expected to rise from RMB 800 million in 2024 to nearly RMB 3 billion by 2027, indicating a compound annual growth rate of 50% over three years [1] - Overall, UBS anticipates a compound annual growth rate of 9% for the company's earnings from 2024 to 2027 [1]

Core Viewpoint - In the first half of 2025, Cummins has achieved steady growth in the commercial vehicle engine industry in China, showcasing its leading technology and strategic partnerships, while celebrating its 50th anniversary in the Chinese market [1][5][6]. Group 1: Sales Performance - In the first half of 2025, Cummins' sales in China showed steady growth, with the multi-cylinder diesel engine sales reaching 2.1541 million units, a year-on-year increase of 3.84% [2]. - Dongfeng Cummins performed exceptionally well, selling 113,100 units, a year-on-year increase of 11.08%, outperforming the overall market growth [2][4]. Group 2: 50th Anniversary Celebration - On June 16, 2025, Cummins celebrated its 50th anniversary in China, marking its journey that began in 1975 and establishing itself as one of the first multinational companies to set up operations in China [6][8]. Group 3: Strategic Partnerships - In the first half of 2025, Cummins formed strategic partnerships with several companies, including Great Wall Motors and Chery Commercial Vehicles, focusing on the development of hybrid powertrains and efficient logistics solutions [9][12][13]. Group 4: Major Deliveries - Cummins secured significant contracts, including the delivery of 1,050 units of Dongfeng Liuzhou's乘龙H7 equipped with Cummins' 13L engine to YTO Express, demonstrating its strong market competitiveness [15][17]. Group 5: Technological Showcases - At the Bauma exhibition in Germany, Cummins showcased its new generation 15-liter non-road engine and other advanced technologies, highlighting its commitment to energy transition and emissions upgrades [19][21]. Group 6: Zero Carbon Initiatives - On March 25, 2025, Cummins launched 50 zero-carbon projects aimed at supporting Chinese customers in achieving carbon neutrality, covering various areas such as R&D and production operations [22][25]. Group 7: New Product Launches - Cummins introduced the new B7.2 medium-duty diesel engine, part of its B series platform, which will be globally developed and expected to be produced in North America by 2027 [26][29]. Group 8: Milestones and Awards - On March 24, 2025, Chongqing Cummins celebrated the production of its 330,000th engine, further solidifying its position in the high-power engine sector [30]. - Cummins received multiple industry awards, including recognition for its diversity, equity, and inclusion efforts, enhancing its market reputation [34][35][38].

Group 1: Overview of Companies Participating in the Expo - The eighth China International Import Expo (CIIE) is approaching, with foreign companies in the Shanghai Free Trade Zone looking forward to this annual event [1] - Austrian company Plansee Group, a leader in refractory metals and advanced materials, has established its core manufacturing and R&D hub in Shanghai, generating nearly 1 billion RMB in annual revenue since its production began in 2013 [1][3] - Shanghai Wärtsilä Zhenyao Engine Co., Ltd., a joint venture established in 2005, has seen significant success from participating in previous expos, securing bulk orders for dual-fuel engines shortly after the last event [4] Group 2: Investment and Development Projects - Plansee's third-phase factory project in the Lingang New Area, with an investment of 130 million RMB, is expected to produce over 20 million semiconductor-related electronic components annually and create over 100 new jobs [1][3] - The Argentine Commodity Bonded Display and Trading Center, established in collaboration with various Argentine entities, aims to promote Argentine products in China, expanding from a few to dozens of participating companies [7][8] Group 3: Commitment to the Chinese Market - Companies like Wärtsilä Zhenyao express a strong commitment to the Shanghai market, citing regional advantages and supportive policies as key factors for continued investment and R&D efforts [4] - Mitsui Sumitomo Insurance has been participating in the expo for six consecutive years, emphasizing the importance of the Lingang area for their operations in China [8][9]

康明斯公司日前宣布，自2025年8月1日起，康明斯中国零部件事业部总经理柴永全擢升康明 斯副总裁。凭借深厚的技术专长、卓越的战略眼光以及对人才发展的坚定承诺，柴永全为推动 康明斯中国业务的持续增长发挥了重要作用。 柴永全在中国零部件业务的战略规划中发挥了至关重要的作用，通过优化组织架构，推动人才 发展，高效整合现有资源，实现了效率与效能的双重提升。他带领团队不仅取得了卓越的运营 绩效，还深化了与本地合作伙伴的关系，践行公司 "零碳目标"战略，推动当前及未来业务增 长。他深度参与并积极推行适应中国市场需求的产品开发战略（Fit for market），推出满足 最新道路及非道路排放法规要求的后处理解决方案，助力零部件业务在华实现创纪录的营收。 此外，通过与北汽福田和卓品智能建立合资企业，进一步拓展康明斯的业务版图，巩固公司在 核心技术和零排放技术领域的领先地位。 柴永全于2005年加入康明斯，拥有超过20年的跨职能管理经验，先后在康明斯美国及中国多 地担任重要领导岗位。早期历任产品前沿技术控制工程师、重型发动机燃烧性能与排放工程 师、康明斯排放处理系统系统集成性能负责人；2013年回到中国后，先后担任康明斯排放 ...

Core Viewpoint - The release of China's first diesel engine oil D1 standard marks a significant step towards breaking foreign monopolies and establishing an independent standard in the industry, with Weichai Power playing a crucial role in its development [1][3][7]. Group 1: Industry Background - China is the world's largest producer and seller of engines, yet it has long relied on the American API system for diesel engine oil standards, which has hindered the industry's independent development [3]. - In 2016, the China Internal Combustion Engine Society, along with Weichai and 42 other organizations, formed the "Engine Lubricating Oil China Standard Development Innovation Alliance" to break foreign technological monopolies [3]. Group 2: Technical Contributions - Weichai invested nearly 100 technical experts over nearly ten years to develop the D1 standard, using its WP13 engine as a core testing platform [4][8]. - The testing data indicated that the new standard allows for an oil change interval of up to 120,000 kilometers, a 100% increase compared to previous standards, significantly reducing user costs [4]. Group 3: Collaborative Efforts - Weichai collaborated with the China Automotive Research and Testing Center to develop the WP13 evaluation method, leading to the implementation of four industry standards and participation in drafting eight supporting specifications [6]. Group 4: Future Implications - The D1 standard not only enhances the competitiveness of Weichai engines but also promotes upgrades across the entire industry chain, with potential benefits for future emissions standards (National VI and VII) [7]. - The promotion of the D1 standard is expected to accelerate the Chinese diesel engine oil industry's transition away from foreign dependency, moving towards high-quality development [7].