Financial Data and Key Metrics Changes - The operating profit for the third quarter was JPY 591.5 billion, achieving record high unit sales, operating profit, and operating margin [2][4] - Operating cash flow after R&D adjustment was JPY 1,855.8 billion, consistent with the same period last year [3] - The forecast for operating profit for the fiscal year ending March 2026 remains at JPY 550 billion, with profit for the year unchanged at JPY 300 billion [5][10] Business Segment Data and Key Metrics Changes - Motorcycle operations achieved a profit of JPY 446.5 billion, up by JPY 44.8 billion year-on-year, driven by solid sales in India and Brazil [8] - Automobile operations reported losses of JPY 166.4 billion, down by JPY 569 billion year-on-year, primarily due to semiconductor supply shortages and one-time EV-related expenses [8][9] - Power products business sold 2.507 million units, with incremental sales in Europe but a decline in Asia [6] Market Data and Key Metrics Changes - Cumulative global unit sales for motorcycles reached 16.44 million units, with significant increases in India, Pakistan, and Brazil [6] - Automobile unit sales were 2.561 million, reflecting a decline mainly in Asia, particularly China [6] - The forecast for motorcycle sales is maintained at 21.3 million units, while automobile sales remain at 3.34 million units [4][10] Company Strategy and Development Direction - The company aims to enhance its competitive strength by reviewing strategies in response to stagnated EV market growth and intensified competition from emerging OEMs [12][14] - Plans include settling losses related to EVs in North America and launching next-generation hybrid systems [14][15] - The company emphasizes a balanced business portfolio across motorcycles and finance to maintain cash flow and a sound balance sheet [15] Management Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as the stagnation of the EV market, protectionism, and supply chain risks [12][14] - The company expects profit growth due to yen depreciation but recognizes the need for incentives in the competitive Asian automobile market [3][12] - Future strategies will be communicated in the upcoming fiscal year, focusing on product features and cost competitiveness [14] Other Important Information - The forecast for full-year dividends is set at 70 JPY per share, unchanged from previous forecasts [5] - The company plans to cancel 747 million treasury stocks as part of its shareholder return strategy [5] Q&A Session Summary Question: Full year outlook and automobile profitability - Management indicated that the fourth quarter may incur higher expenses but expects positive impacts from tariffs and motorcycle sales in Vietnam [20][21] - Concerns about BEV profitability and potential expenses related to negotiations with GM were raised [21][26] Question: EV market trends and mid-term strategies - Management acknowledged the need to revisit EV strategies due to negative demand environments and competition from local manufacturers in China [30][31] Question: Semiconductor supply issues - Management confirmed that they are taking steps to prevent future semiconductor shortages and are closely monitoring supply chain risks [32][39] Question: Tariff impacts and automobile sales strategies - Management explained the reduction in tariff impacts and outlined strategies to improve sales in North America and Japan, focusing on hybrid models [41][43] Question: Rare earth metals supply concerns - Management acknowledged reliance on China for rare earth metals and discussed strategies for securing inventory and applying for export permissions [47][50]

Group 1 - India will reduce tariffs on luxury cars from up to 110% to 30% under a temporary trade agreement with the US, while maintaining high tariffs on electric vehicles, including those from Tesla [1][3] - The US will lower tariffs on Indian goods from 50% to 18% as part of the agreement, with the implementation of these tariff reductions expected after a formal agreement is signed in March [1] - The agreement contrasts with India's previous deal with the EU, where it agreed to reduce tariffs on more car models to 10%, including some concessions for electric vehicles [4] Group 2 - Tesla faces challenges in the Indian market due to high tariffs, with the starting price of the Model Y reaching nearly $70,000, leading to unsold inventory and a significant discount being offered to clear stock [3] - Despite initial interest, Tesla's sales in India have been disappointing, with only 227 registrations for the year and a large portion of exported vehicles remaining unsold [3]

一名官员透露，根据一项临时贸易协定，印度将把美国高端汽车的进口关税从最高 110% 下调至 30%， 并取消哈雷 - 戴维森摩托车的关税，但不会对电动汽车做出关税让步，这一举措显然将特斯拉排除在 外。 周五，美印两国发布了一份临时协议框架，朝着达成更广泛的贸易协定又迈进了一步。此前数日，美国 总统特朗普称，作为印度停止购买俄罗斯石油的交换条件，美国将把对印度出口商品的关税从 50% 降 至 18%。 一位印度政府官员表示，根据该协议，发动机排量 3000 立方厘米以上的传统内燃机汽车，其关税将在 10 年内逐步降至 30%。 特斯拉无缘关税下调 该官员还补充称，电动汽车被排除在协议之外，这使得特斯拉失去了以低关税进入印度市场的机会 —— 这一决定无视了埃隆・马斯克的核心诉求，他此前就多次批评印度的高关税政策。 这一立场与印度向欧盟提供的更广泛汽车市场准入条件形成鲜明对比。印度与欧盟达成协议，对包括部 分电动汽车在内的更多类型汽车大幅下调关税，最终部分车型关税可降至 10%。 印度是仅次于美国和中国的全球第三大汽车市场，长期以来一直对本土汽车产业实施高度保护，其汽车 进口关税高达 70%-110%。 一位印度政 ...

国家市场监督管理总局 日前发布最新召回信息 捷豹路虎（中国） 投资有限公司召回 部分进口路虎揽胜、 揽胜运动版系列汽车 捷豹路虎（中国）投资有限公司根据《缺陷汽车产品召回管理条例》和《缺陷汽车产品召回管理条例实 施办法》的要求，向国家市场监督管理总局备案了召回计划。 召回编号S2026M0012V：自即日起，召回2025年8月27日至2025年8月29日期间生产的部分进口2025款 路虎揽胜、揽胜运动版汽车，共计16辆。 本次召回范围内的车辆，由于生产装配问题，变速箱换挡控制模块内的挡位指示灯可能无法正常点亮， 造成驾驶员无法识别车辆挡位状态，增加事故风险，存在安全隐患。 捷豹路虎（中国）投资有限公司将通过电话、短信等方式通知有关用户此次召回事宜。相关用户可拨打 路虎品牌客户服务热线：400-820-0187进行咨询。 捷豹路虎（中国）投资有限公司将为召回范围内车辆免费更换变速箱换挡控制模块，以消除安全隐患。 梅赛德斯-奔驰（中国） 汽车销售有限公司和 北京奔驰汽车有限公司 召回部分进口和国产汽车 梅赛德斯-奔驰（中国）汽车销售有限公司和北京奔驰汽车有限公司根据《缺陷汽车产品召回管理条 例》和《缺陷汽车产品召 ...

Core Viewpoint - The Chongqing Market Supervision Administration is enhancing intellectual property enforcement to support high-quality development and create a favorable business environment in Chongqing [1]. Group 1: Key Initiatives - Focus on key sectors for systematic governance, strengthening the protection of the entire industrial chain for advantageous industries such as automotive and motorcycle manufacturing, with 75 cases of automotive parts infringement investigated and 910 sets of infringing motorcycle parts intercepted [4] - Emphasis on consumer safety by conducting extensive enforcement actions in sectors like food, home appliances, and children's toys, resulting in 745 related cases being handled [4] - Addressing the rampant sale of infringing goods in the internet sector by establishing a joint anti-counterfeiting mechanism with major logistics companies, leading to the seizure of over 60,000 infringing items valued at over 20 million yuan [4] Group 2: Collaborative Efforts - Strengthening multi-dimensional collaboration and full-chain crackdown by establishing over 20 grassroots cooperation mechanisms with market supervision departments in neighboring regions, protecting renowned brands like Wuliangye and Fuling Pickles [4] - Enhancing coordination with law enforcement and judicial bodies, successfully investigating a cross-border counterfeit luxury goods case involving over 300 million yuan, and dismantling 23 illegal operations [4] - Collaborating with intellectual property courts to implement a dual approach of "enforcement + mediation," helping companies recover over one million yuan in damages and significantly reducing the cost of rights protection [4] Group 3: Proactive Enforcement - Promoting a shift in enforcement philosophy from "post-event investigation" to "prevention, regulation during the process, and improvement afterward," by establishing a directory of 477 well-known brands and geographical indication products [5] - Creating a government-enterprise cooperation platform and conducting tailored research for companies like "Yongchuan Douzhi" and "Youfu Food" to identify risks of infringement [5] - Innovating a "penalty + service" model that incorporates post-case follow-ups into mandatory procedures, guiding industries like shoemaking back to a brand cultivation-focused development path [5]

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12月长铃集团长春摩托车工业有限公司摩托车产 量为12763辆，同比增长5.72%，销量为12763辆，同比增长5.72%，产销率为100%，无积压库存；2025 年1-12月长铃集团长春摩托车工业有限公司摩托车产量为172680辆，产量累计同比增长80.67%，2025年 1-12月长铃集团长春摩托车工业有限公司销量为172680辆，销量累计同比增长80.67%。 近一年长铃集团长春摩托车工业有限公司摩托车产销情况统计图 数据来源：中国汽车 ...

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12月雅迪科技集团有限公司摩托车产量为70080 辆，同比下降14.27%，销量为57274辆，同比下降28.48%，产销率为81.73%，积压12806辆；2025年1- 12月雅迪科技集团有限公司摩托车产量为991064辆，产量累计同比下滑26.82%，2025年1-12月雅迪科技 集团有限公司销量为921062辆，销量累计同比下滑35.57%。 近一年雅迪科技集团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 ...

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12月台州市王野机车有限责任公司摩托车产量为 15848辆，同比下降16.44%，销量为15848辆，同比下降16.44%，产销率为100%，无积压库存；2025年 1-12月台州市王野机车有限责任公司摩托车产量为138278辆，产量累计同比下滑7.84%，2025年1-12月 台州市王野机车有限责任公司销量为138278辆，销量累计同比下滑7.84%。 近一年台州市王野机车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 ...

近一年西藏新珠峰摩托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12月西藏新珠峰摩托车有限公司摩托车产量为 4920辆，同比增长17.96%，销量 ...

2025年第八批产品质量监督抽查结果汇总表 中国质量新闻网讯 据山东省临沂市市场监督管理局网站消息，近日，临沂市市场监督管理局公布2025年摩托车、电动自行车乘员头盔产品质量市级监督抽 查结果（第八批）。本次共抽查摩托车、电动自行车乘员头盔产品15批次，其中，生产环节3批次，销售环节7批次，网售环节5批次。 本次抽查依据GB 811-2022《摩托车、电动自行车乘员头盔》等标准的要求，对摩托车、电动自行车乘员头盔产品的结构-结构组成、结构-佩戴装置、性能- 视野、性能-护目镜（耐磨性）、性能-佩戴装置强度、性能-吸收碰撞能量、标志、标识等项目进行了检验。 抽查未发现不合格项目。 | | | | | | 抽 | | | | | 综 | 不合格 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 序 | 产品名称 | 产品 | 受检单位名称 | 统一社会信用代码 | 样 标称生产单位 | 生产日期/批号 | 商标 | 规格型号 | 检验单位 | 合 | 项目 | | 号 | | 分类 | | | 领 | | | ...