在城市的深夜街头，或是偏远地区的呼救声中，救护车承载着生命的希望，扮演着至关重要的 角色。它不仅是运输工具，更是移动的生命保障空间。江铃福特全顺 T8 救护车，凭借可靠的 安全防护与出色性能，为每一次救援任务提供有力支持，将守护生命的责任落到实处。 针对急救场景优化的智能安全配置，为行车增添更多保障。L2.5 级 ADAS 驾驶辅助系统集成 17 项智能功能，在高速行驶时维持车道稳定，紧急情况下及时制动，减轻医护人员驾驶负 担；双电机 EPB/Autohold 自动驻车系统，即便在超过常规道路坡度的路段也能可靠驻停， 确保患者上下车时的平稳性。国内领先的 9.3 版本 ESP 系统涵盖 25 项子功能，全程护航车 辆行驶，让急救路途更安心。 安全，生命守护的坚实根基 救护车的核心职责在于守护生命，全顺 T8 在安全设计上细致入微。车身选用上海宝钢冷轧钢 材，高强度钢占比达 65%，关键部位采用 68 处航母级硼钢，能在碰撞时有效缓冲冲击，为 车内人员筑牢安全屏障。其顶压测试标准高于行业平均水平，即使面对复杂路况带来的意外冲 击，也能最大程度保障舱内安全。 动力，争分夺秒的有力支撑 在急救现场，时间就是生命。全 ...

格隆汇8月8日｜中信建投研报表示，近期第三批"以旧换新"国补已陆续下发地方，乘用车板块消费景气 有望改善，26-27年新能源车购置税由免征调整为减半征收。当前新能源车免征购置税3万元，26-27年 将调整为减半征收(即从减免最高3万元下调为1.5万元)，购置税减免退坡，beta上行在即，叠加反内 卷，利好当前产品周期"弱转强"的30万元价位带品牌；L2智驾国标或落地在即，板块密集催化下产业趋 势进一步强化；商用车内需修复和非俄海外出口景气度上行带来龙头公司上半年业绩连续超预期，稳健 低估值属性仍为防御型资金青睐。 ...

Group 1 - The recent issuance of the third batch of "trade-in for new" national subsidies is expected to improve consumer sentiment in the passenger vehicle sector [1] - From 2026 to 2027, the exemption of purchase tax for new energy vehicles will be adjusted from full exemption to a 50% reduction, decreasing the maximum tax exemption from 30,000 yuan to 15,000 yuan [1] - The reduction in purchase tax exemptions is anticipated to lead to an upward beta, benefiting brands in the 300,000 yuan price range as the product cycle shifts from weak to strong [1] Group 2 - The imminent implementation of L2 autonomous driving national standards is expected to further strengthen industry trends [1] - The recovery of domestic demand for commercial vehicles and the increase in overseas exports (excluding Russia) have led to leading companies exceeding performance expectations in the first half of the year [1] - The stable low valuation attributes of these leading companies continue to attract defensive capital [1]

Group 1: Automotive Sector - The recent issuance of the third batch of "old-for-new" national subsidies is expected to improve consumer sentiment in the passenger vehicle sector [1][2] - From 2026 to 2027, the exemption of purchase tax for new energy vehicles will be adjusted from a full exemption of 30,000 yuan to a half exemption of 15,000 yuan, indicating a reduction in tax incentives [1][2] - The adjustment in purchase tax is anticipated to lead to an upward beta, benefiting brands in the 300,000 yuan price range as the product cycle shifts from weak to strong [1][2] - The L2 autonomous driving national standard is expected to be implemented soon, further strengthening industry trends amid concentrated catalysts [1][2] - The recovery of domestic demand in commercial vehicles and the rising export sentiment outside of Russia have led to strong performance from leading companies in the first half of the year, making them attractive to defensive funds due to their stable low valuation [1][2] Group 2: Intelligent Driving Sector - The L4 autonomous driving industry is approaching a turning point in terms of costs and technology, with ongoing evolution in technology iterations, industry structure, and new business models [2] - The upcoming release of the L2 strong standard consultation draft signifies national endorsement, making intelligence a quantifiable brand strength [2] - Focus is recommended on the intelligent testing segment and the L3-L4 autonomous driving operation sector [2] Group 3: Robotics Sector - The robotics sector has shown significant strength since mid-July, although recent weeks have seen some volatility and differentiation among individual stocks [3] - The sector remains in a strong event-driven and industry trend reinforcement phase, with high market attention due to events like the WAIC conference and the upcoming WRC [3] - Quality stocks with alpha potential, particularly those entering the Tesla supply chain or representing technological iteration directions, are recommended for fund allocation [3] Group 4: Bus and Heavy Truck Sector - The Q2 performance surge in the bus and heavy truck sectors is primarily driven by increased exports of heavy trucks and large/mid-sized buses [3] - With domestic subsidies accelerating since May, the fundamentals of these two core sectors remain strong, and growth rates are expected to rise further in Q3 due to a low base [3] - Core stocks in these sectors are currently in an important allocation window [3]

Core Insights - July exports exceeded expectations with a year-on-year growth of 7.2%, up from 5.9% in the previous month, driven by competitive advantages in supply chains and manufacturing sectors such as machinery, automobiles, and integrated circuits [16][24]. - The report highlights improvements in export growth rates to emerging markets, including Africa, ASEAN, Vietnam, and India, while exports to developed regions like the EU and Canada also showed positive trends [18][24]. Industry Observations Export Performance - The export growth rate for July was 7.2%, significantly higher than the market expectation of 5.8%, with imports also increasing to a year-on-year growth of 4.1% [16]. - The three-month rolling year-on-year growth rate for exports decreased from 6.23% to 5.93%, indicating a slight slowdown despite the strong monthly performance [16]. Manufacturing and Technology - The semiconductor sales growth rate for June showed a narrowing year-on-year increase, while July saw an expansion in the import and export amounts of integrated circuits [5][29]. - The report notes that the prices in the photovoltaic industry, including components and battery cells, have increased, reflecting a positive trend in the midstream manufacturing sector [14][27]. Consumer Demand - The report indicates a mixed performance in consumer goods, with ticket sales for films increasing while retail sales for home appliances showed a decline [27]. - The prices of agricultural products, such as fresh milk and sugar, remained stable, while pork prices held steady, indicating a stable demand in the agricultural sector [27]. Resource Products - Industrial metal prices generally increased, with copper, aluminum, and zinc prices rising, while coal prices also showed an upward trend [14][27]. - The report highlights a decrease in the price index for cement and glass, indicating a potential slowdown in construction-related demand [14][27]. Financial and Real Estate Sector - The report notes a decline in the turnover rate and daily trading volume in the A-share market, alongside a decrease in land transaction premium rates and housing transaction areas [14][27]. - The monetary market saw a net injection, with SHIBOR rates declining across various terms, reflecting a more accommodative monetary policy environment [14][27]. Public Utilities - The average daily power generation of key power plants showed a year-on-year increase over 12 weeks, indicating a stable demand for electricity [14][27]. - Natural gas prices in China have decreased, aligning with a broader trend of declining energy prices globally [14][27].

Domestic News - Xiaopeng Motors shifts its design philosophy to prioritize aesthetics, committing an annual investment of 2 billion yuan to enhance vehicle design [6] - NIO has launched 11 battery swap stations along the G318 Sichuan-Tibet line, with plans to establish a total of 15 stations [7] - Leap Motor has deepened its battery collaboration with CATL, supplying self-developed battery packs to over five new energy commercial vehicle clients [8] - Li Auto has opened 67 new supercharging stations across various provinces in China during the last week of July 2025 [9] - WeRide has increased its registered capital from 3 billion to 3.5 billion yuan, marking a 17% growth [10] - Huawei has published a patent for a vehicle platooning method aimed at enhancing the safety of intelligent driving [11] - Cao Cao Mobility is exploring the tokenization of real-world assets and stablecoin payments in collaboration with a licensed financial institution [12] - FAW Hongqi plans to launch its first flying car product by 2029, with a goal for commercial passenger flight by 2035 [13][14] International News - The UK automotive market saw a 5% year-on-year decline in new car registrations in July, although plug-in hybrid and electric vehicle registrations increased by 33% and 9.1%, respectively [14] - General Motors and Hyundai are collaborating to develop five new models targeting the Central and South American markets, with an expected annual sales of over 800,000 units [15] - Faurecia and EVE Energy have achieved the global mass production of a 12V lithium battery management system, set to launch in European luxury passenger vehicles [16] - BMW is set to globally debut its new generation model, the BMW iX3, at the 2025 Munich Auto Show [18] Commercial Vehicles - GAC's self-developed heavy-duty truck battery has successfully passed the stringent new national standard certification for electric vehicle batteries [19] - Remote's "Alcohol-Hydrogen + Electric" series solutions for new energy heavy-duty trucks were unveiled, promoting full-scenario applications in the industry [20] - Xiamen Golden Dragon's overseas bus sales reached nearly 6,000 units in the first half of 2025, marking a 60% increase year-on-year [21] - Suzhou Golden Dragon has delivered its L4 level autonomous driving bus for testing in Hangzhou, showcasing advancements in intelligent transportation [22]

Core Viewpoint - The article emphasizes the enduring spirit of "self-reliance, excellence, innovation, unity, and dedication to the country and the people," which has motivated Dongfeng Liuzhou Motor (柳汽) for 71 years in its journey towards high-quality development in the automotive industry [1][5]. Group 1 - Dongfeng Liuzhou Motor has achieved numerous successes and faced many challenges over its 71-year history [1][5]. - The company's spirit encourages perseverance in both favorable and adverse conditions [5]. - The focus is on advancing from being a major automotive nation to becoming a strong automotive nation [1][5].

Investment Rating - The report maintains an "Outperform" rating for the heavy truck industry [7] Core Insights - The report focuses on the upgrade of the heavy truck industry chain driven by the mandatory installation of Beidou systems and the digitalization of insurance, with significant policy support expected to generate large-scale installation demand [4][11] - The heavy truck market is entering a structural recovery phase, with a year-on-year sales growth of 5.8% in the first half of 2025, indicating a gradual recovery trend since February [8][22] - The integration of Beidou technology is expected to enhance operational efficiency and data monetization, creating a sustainable business model from policy-driven installation to data value realization [30][38] Summary by Sections 1. Beidou Positioning and Heavy Truck Industry Upgrade - The mandatory installation of Beidou systems is transforming vehicle management from manual experience to real-time data, supporting dynamic scheduling and safety improvements [15] - The heavy truck market is experiencing a recovery with increasing concentration among leading companies, driven by demand recovery and policy support [16][24] - The new Beidou terminal solutions offer significant advantages in cost, precision, and safety, becoming the mainstream choice for heavy trucks [30][35] 2. Heavy Truck Insurance Challenges and Digital Solutions - The heavy truck insurance market faces a supply-demand imbalance, with high accident risks leading to reduced underwriting by insurance companies [9][44] - Digital transformation is essential for the heavy truck insurance market, leveraging high-frequency data from Beidou terminals to enhance risk management and pricing accuracy [10][42] - The report suggests a shift towards a usage-based insurance (UBI) model, which could improve risk assessment and reduce claims costs [53][57] 3. Investment Recommendations - The heavy truck industry is poised for structural opportunities driven by the dual forces of mandatory Beidou installation and insurance digitalization, with leading companies like Weichai Power and China National Heavy Duty Truck Group expected to benefit [11][61] - The report emphasizes the importance of companies that actively promote the large-scale application of Beidou technology, highlighting their potential for data monetization and enhanced operational efficiency [11][61]

证券之星消息，8月6日商用车板块较上一交易日下跌0.47%，曙光股份领跌。当日上证指数报收于 3633.99，上涨0.45%。深证成指报收于11177.78，上涨0.64%。商用车板块个股涨跌见下表： 从资金流向上来看，当日商用车板块主力资金净流出3.82亿元，游资资金净流入1.72亿元，散户资金净流 入2.11亿元。商用车板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600375 | 汉马科技 | 7.12 | 2.74% | 53.35万 | | 3.74亿 | | 000800 | 一汽解放 | 7.07 | 0.71% | 11.05万 | | 7770.88万 | | 000951 | 中国重汽 | 18.29 | 0.44% | 8.29万 | | 1.51亿 | | 000868 | 安凯客车 | 5.90 | 0.34% | 1 17.28万 | | 1.02亿 | | 600006 | 东风股份 | 7.34 | 0.14% | 23 ...

Market Performance - The three major stock indices rose collectively, with the North Stock 50 Index increasing by over 1% and more than 3,300 stocks in the market showing gains [1] - As of the market close, the Shanghai Composite Index rose by 0.45% to 3,633.99 points, the Shenzhen Component Index increased by 0.64% to 11,177.78 points, and the ChiNext Index gained 0.66% to 2,358.95 points [1] - The North Stock 50 Index saw a rise of 1.58%, with total trading volume across the Shanghai, Shenzhen, and North Stock markets reaching 1.7595 trillion yuan [1] Sector Performance - The pharmaceutical and tourism sectors experienced declines, while the military, automotive, coal, and semiconductor sectors saw significant gains [1] - Active concepts included humanoid robots, industrial mother machines, and liquid-cooled servers [1] Investment Insights - According to Everbright Securities, the current market trend may exhibit characteristics of "rotating supplementary gains," with a focus on sectors that are likely to benefit from this trend [1] - Key areas of interest in the first-level industry include machinery and electrical equipment, while second-level industries to watch are engineering machinery, chemical fibers, automation equipment, and commercial vehicles [1] - Long-term focus areas include consumption, technological self-reliance, and dividend stocks, with specific attention to policy subsidies, service and new consumption trends in the consumption sector, and AI, robotics, semiconductors, and military sectors in technology [1] Future Outlook - The market is expected to enter the next phase of an upward trend in the second half of the year, with potential to break through the phase high points of the second half of 2024 [1] - The market style in August is anticipated to lean towards cyclical sectors, with a focus on home appliances, non-bank financials, and electrical equipment [1]