Core Viewpoint - The report highlights the growth trends in the motorcycle industry in China, particularly focusing on the production and sales data from Shandong Wuxing Vehicle Co., Ltd, indicating a positive outlook for the sector from 2025 onwards [1] Group 1: Company Performance - Shandong Wuxing Vehicle Co., Ltd produced 11,177 motorcycles in August 2025, representing a year-on-year increase of 22.77% [1] - The sales volume for the same period reached 11,594 units, showing a year-on-year growth of 20.43% [1] - The production and sales rate stood at 103.73%, with 417 units in stock clearance [1] Group 2: Industry Insights - The report titled "2026-2032 China Motorcycle Industry Market Panorama Assessment and Development Strategy Analysis" by Zhiyan Consulting provides a comprehensive analysis of the motorcycle market in China [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing tailored consulting services [1]

Core Insights - The article discusses the performance of the motorcycle industry in China, highlighting specific companies and their production and sales figures for August 2025 [1]. Company Performance - Zhejiang Huayang Motorcycle Co., Ltd. produced 6,687 motorcycles in August 2025, representing a year-on-year decrease of 10.85% [1]. - The sales volume for Zhejiang Huayang was 6,233 units, showing a significant year-on-year decline of 26.57% [1]. - The production and sales rate for the company stood at 93.21%, with an inventory backlog of 454 units [1]. Industry Overview - The data is sourced from the China Automotive Industry (Motorcycle) Production and Sales Quick Report, compiled by Zhiyan Consulting [1]. - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research reports and providing comprehensive consulting services for investment decisions [1].

Core Viewpoint - The motorcycle industry is experiencing steady growth in the mid-to-large displacement segment, with significant export acceleration and a focus on high-end domestic production [5][18]. Sales Performance - In September 2025, sales of motorcycles above 250cc reached 87,000 units, representing a year-on-year increase of 13.1% and a month-on-month increase of 2.5%. Cumulative sales from January to September totaled 761,000 units, up 32.9% year-on-year [2]. - The export of motorcycles above 250cc in September was 53,000 units, a year-on-year increase of 39.0% and a month-on-month increase of 13.6%. Cumulative exports for the first nine months reached 412,000 units, up 65.4% year-on-year [3]. - Domestic sales for September were 33,000 units, down 12.7% year-on-year and 11.2% month-on-month, with cumulative domestic sales of 350,000 units, up 8.0% year-on-year [4]. Market Structure - The growth of motorcycles with a displacement of 500cc and above is strong, with leading companies like Chuanfeng Power, Longxin General, and Qianjiang Motorcycle enhancing their export capabilities [5]. - The top three companies in the 250cc+ segment in September were Chuanfeng Power, Qianjiang Motorcycle, and Longxin General, with a combined market share of 44.2% [6]. Company Insights - Chuanfeng Power's total two-wheeler sales in September were 49,000 units, up 41.5% year-on-year, while cumulative sales for the first nine months reached 423,000 units, up 86.4% year-on-year [6]. - Qianjiang Motorcycle's sales in September were 38,000 units, down 20.9% year-on-year, with cumulative sales of 305,000 units, down 13.2% year-on-year [12]. - Longxin General's motorcycle sales in September were 130,000 units, down 22.7% year-on-year, with cumulative sales of 1.282 million units, down 3.6% year-on-year [15]. Future Outlook - The motorcycle market is expected to continue expanding, driven by new models and brands from leading companies, with a focus on high-end products and international market penetration [18]. - Chuanfeng Power plans to launch new models in the 450cc and 650cc categories, which are anticipated to boost sales [11]. - Qianjiang Motorcycle is enhancing its product definition capabilities and aims to introduce new models to stimulate growth [14].

Market Overview - The motorcycle and other sectors experienced a decline of 1.42% on October 22, with Longxin General leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Notable gainers included: - Xinlong Health (002105) with a closing price of 7.03, up 1.44% [1] - Huayang Racing (920058) at 37.23, up 1.39% [1] - Linhai Co. (600099) at 11.04, up 1.01% [1] - Significant decliners included: - Jiangkui General (603766) at 13.03, down 2.76% [2] - Ninebot (60006899) at 63.42, down 2.64% [2] - Qianjiang Motorcycle (000913) at 16.51, down 1.43% [2] Capital Flow - The motorcycle and other sectors saw a net outflow of 153 million yuan from institutional investors, while retail investors contributed a net inflow of 101 million yuan [2] - The overall capital flow indicated a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Detailed Capital Flow Analysis - Key stocks with significant capital movements included: - Zhenghe Industrial (003033) with a net inflow of over 939.58 thousand yuan from institutional investors [3] - Taotao Vehicle (301345) saw a net outflow of 1619.06 thousand yuan from institutional investors but a net inflow of 1490.25 thousand yuan from retail investors [3] - Linhai Co. (600099) experienced a net outflow of 511.14 thousand yuan from institutional investors, while retail investors contributed a net inflow of 799.08 thousand yuan [3]

Investment Rating - The report maintains a "Buy" rating for the motorcycle industry, specifically recommending companies such as Chuanfeng Power, Longxin General, and Qianjiang Motorcycle [5][15]. Core Insights - The motorcycle industry is experiencing steady growth in sales, particularly in the mid-to-large displacement segment, with exports accelerating [4][5]. - The overall sales of motorcycles above 250cc reached 87,000 units in September 2025, marking a year-on-year increase of 13.1% and a cumulative sales of 761,000 units from January to September, up 32.9% year-on-year [3][4]. - The report highlights the strong performance of leading companies in the industry, with Chuanfeng Power maintaining its top position in sales [6][9]. Summary by Sections Sales Performance - In September 2025, sales of motorcycles above 125cc reached 751,000 units, a year-on-year increase of 5.5% and a month-on-month increase of 12.2% [4]. - Exports of motorcycles above 250cc in September were 53,000 units, up 39.0% year-on-year, while domestic sales were 33,000 units, down 12.7% year-on-year [4]. Market Structure - The report notes significant growth in the 500cc and above segment, with sales of 1,700 units in September, a year-on-year increase of 351.5% [5]. - The 250cc to 400cc segment saw sales of 53,000 units in September, up 3.8% year-on-year, while the 400cc to 500cc segment experienced a decline of 24.1% [5]. Competitive Landscape - The top three companies in the 250cc and above segment are Chuanfeng Power, Qianjiang Motorcycle, and Longxin General, with a combined market share of 44.2% in September [6][8]. - Chuanfeng Power's market share was 15.3% in September, while Qianjiang Motorcycle's market share was 15.0%, reflecting a year-on-year increase of 84.8% in sales [6][8]. Future Outlook - The report anticipates continued growth in the mid-to-large displacement motorcycle market, driven by new model launches and increased export activities from leading manufacturers [5][15]. - Chuanfeng Power is expected to focus on new models in the 450cc and 650cc categories, which are anticipated to boost sales significantly [11].

Core Viewpoint - Chongqing Qianli Technology Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange, marking its transformation into an "AI + Mobility" player after overcoming significant debt issues [1][2] Financial Performance - The company reported a revenue of 4.15 billion RMB for the first half of 2025, with a projected revenue of 41.49 billion RMB for the first half of 2025, indicating a significant increase [3][4] - Despite the revenue growth, the company's profitability remains a concern, with net profits of 155 million RMB in 2022, dropping to 24 million RMB in 2023, and projected losses of 680 million RMB in 2024 [4][5] - The company’s reliance on non-recurring income is notable, with government subsidies contributing 1.62 billion RMB to the net profit of 310 million RMB in the first half of 2025, indicating an operational loss exceeding 1.3 billion RMB [5][6] Transformation and Strategy - The company has positioned itself as a technology-driven entity, launching the "Qianli Smart Driving 1.0" system and plans for Robotaxi trials, although these initiatives have yet to generate revenue [6][10] - The transition from traditional manufacturing to smart driving technology is heavily supported by Geely Group, which has provided significant resources and funding for R&D [10][11] Dependency on Geely - The company exhibits a dual dependency on Geely, with revenue from Geely accounting for 39.7% in 2022, decreasing to 33.2% in the first half of 2025, while procurement from Geely remains high at 29.7% [8][9] Market Context - The listing of Qianli Technology reflects a broader trend of smart driving companies seeking funding in Hong Kong, where the market is more accommodating to unprofitable tech firms compared to A-shares [12][13] - The competitive landscape is shifting towards a concentration of market share among a few leading players, creating challenges for new entrants [13]

Market Overview - The motorcycle and other sectors increased by 0.69% compared to the previous trading day, with Xinlong Health leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - Key stocks in the motorcycle sector showed the following performance: - Xinlong Health (002105) closed at 6.93, up 2.97% with a trading volume of 81,000 shares and a turnover of 55.44 million yuan [1] - Linhai Co., Ltd. (600099) closed at 10.93, up 2.82% with a trading volume of 36,400 shares and a turnover of 39.37 million yuan [1] - Taotao Industry (301345) closed at 240.50, up 2.57% with a trading volume of 17,000 shares and a turnover of 410 million yuan [1] - Other notable stocks include Huayang Racing (920058) and Jiuyi Company (6006899), which also experienced gains [1] Capital Flow - The motorcycle and other sectors saw a net inflow of 8.76 million yuan from main funds, while retail investors contributed a net inflow of 35.90 million yuan [2] - The main funds experienced a net outflow of 44.65 million yuan from speculative funds [2] Individual Stock Capital Flow - Notable capital flows for specific stocks include: - Jiuyi Company (689009) had a net inflow of 39.18 million yuan from main funds, while speculative funds saw a net outflow of 28.45 million yuan [3] - Longxin General (603766) had a net inflow of 13.46 million yuan from main funds, with speculative funds showing a net inflow of 20.83 million yuan [3] - Taotao Industry (301345) had a net inflow of 11.56 million yuan from main funds, while retail investors experienced a net outflow [3]

近一年重庆隆鑫机车有限公司摩托车产销情况统计图 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年8月重庆隆鑫机车有限公司摩托车产量为124695 辆，同比下降24.7%，销量为117 ...

近一年重庆建设机电有限责任公司摩托车产销情况统计图 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年8月重庆建设机电有限责任公司摩托车产量为 10753辆，同比下降37.07%，销量 ...

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国汽车工业(摩托车)产销快讯数据显示：2025年8月浙江幸福摩托机械有限公司摩托车产量为 1031辆，同比下降30.67%，销量为1032辆，同比下降30.27%，产销率为100.1%，清仓1辆。 近一年浙江幸福摩托机械有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《 ...