Group 1 - The domestic internal combustion engine industry is expected to exceed 80 million units in production and over 2.9 billion kilowatts in total power by 2024, with a growth rate of over 10% in the first four months of this year, resulting in a total output value of approximately 600 billion yuan [4] - The National VI emission standards have been a focal point for the industry, with the National VII standards set to be completed by December 2026, aiming for a 50% reduction in VOC emissions for light vehicles and the introduction of a collaborative control mechanism [5][8] - The development of carbon-neutral fuels and efficient engines is gaining traction, with a consensus in the automotive industry that a diversified technological approach is necessary for low-carbon and zero-carbon development [6] Group 2 - The competition to improve engine thermal efficiency is becoming a trend in the industry, although it is not the only indicator of engine advancement, as overall vehicle fuel economy is influenced by various factors [11] - The development of hydrogen internal combustion engines is seen as a viable path to near-zero carbon emissions, with Delphi focusing on mid-pressure hydrogen injection technology for light vehicles and non-road machinery [18][20] - The low-altitude economy is emerging as a significant growth engine, with a market expected to grow rapidly, particularly in urban air mobility and logistics, where hybrid power systems are seen as a key solution to overcome electric vehicle limitations [21][24] Group 3 - The development of high-end V-type turbocharged direct injection engines by FAW Hongqi has reached international advanced levels, indicating significant progress in the domestic engine sector [28] - The industry is encouraged to adopt a global perspective in the development of engines and power systems, particularly in high-power and large-displacement engines, as part of China's strategy to expand its automotive market internationally [30]

Core Viewpoint - Guangxi Yuchai Machinery Group Co., Ltd. (Yuchai) is committed to innovation and green development, showcasing its technological strength and determination to lead in the energy transition through the launch of five new energy products at the National Science Workers' Day event [2][3][18] Group 1: New Product Launch - Yuchai introduced five new energy power products covering various sectors including automotive, engineering machinery, shipping, and emerging low-altitude economy [3][5] - The YCK06H hydrogen range extender is the first commercial application of hydrogen range extender technology in China, achieving zero carbon emissions and designed for urban public transport and short-distance cargo vehicles [5] - The YCY30N gas range extender is tailored for medium and heavy-duty trucks, providing high power while significantly reducing fuel consumption and operational costs [5] - The YCK16LM methanol hybrid powertrain is designed for harsh mining conditions, featuring patented corrosion-resistant technology and a 45% reduction in fuel costs compared to diesel engines [5] Group 2: Technological Advancements - Yuchai is actively preparing for the upcoming National VII emission standards, collaborating with national environmental authorities and OEMs to develop testing prototypes [9] - The company has conducted extensive research to predict potential emission limits and analyze the impact of various technological routes on total cost of ownership (TCO) for users [9] - Yuchai emphasizes a diversified fuel technology approach, exploring economic solutions in the commercial vehicle sector, including hybrid systems that combine traditional engines with new energy sources [9][10] Group 3: Commitment to Innovation - Yuchai views technological innovation as fundamental to its survival and development, maintaining high R&D investment and achieving significant recognition in the industry [13][18] - The company has become a leading brand in the hybrid commercial vehicle sector, transitioning from user hesitation to active collaboration, particularly in non-road and natural gas range extender fields [13][18] - Yuchai aims to become a world-class independent power system supplier, focusing on technological breakthroughs and accelerating the transformation of research outcomes [16][18]

中金研究 近年来，国内外头部云计算厂商持续加码AI基建。大缸径发动机是数据中心备用电源柴油发电机组的核心零部件，技术门槛较高，国产化率较低。 我 们认为，当下AIDC建设需求高增，数据中心用柴油发电机组及大缸径发动机迎来量价齐升机遇，全产业链国产替代已成趋势，建议关注自主品牌大缸 径发动机厂商及其供应链厂商。 点击小程序查看报告原文 Abstract 大缸径发动机高壁垒高价值，市场规模广阔。 围绕核心部件气缸，发动机具备缸径、行程、缸数、排量等物理参数，直接影响发动机的动力性与经济性 表现。一般而言，发动机缸径越大、排量越高、马力越大，对应着结构更加复杂、技术难度越高、价值量越大。大缸径发动机是指排量在16L及以上、功 率在550kW及以上且缸径在150mm及以上的发动机，主要用在发电、船舶、工业领域，系高技术壁垒、高价值量的发动机产品。我们测算得到大缸径发动 机2023年全球规模超千亿元人民币。 乘AIDC基建东风，大缸径柴油发动机需求高增。 大缸径发动机是数据中心备用电源柴油发电机组的核心部件，决定柴油发电机组的核心功率。我们产业 链调研得到大缸径发动机占柴油发电机组BOM成本约70-80%。受AI驱动下 ...

Core Viewpoint - Weichai Power has launched its second-generation mining power products, showcasing its technological advancements and commitment to breaking international monopolies in key technologies for large mining equipment [1][4]. Group 1: Product Launch and Features - The second-generation products include the M series and H/T series, designed specifically for mining applications, emphasizing high reliability, low fuel consumption, and intelligent features [1][2]. - The M series features three platforms (M25, M33, M55) with displacement ranging from 19.6L to 87.5L and power from 522 kW to 2800 kW, compatible with various large mining equipment [2]. - The H/T series includes three flagship products (WP14T, WP15H, WP17T) that utilize advanced combustion and efficiency technologies, achieving over 10% lower fuel consumption compared to competitors [3]. Group 2: Technological Innovations - The WP17T methanol engine represents a decade of research and development, addressing industry challenges and achieving over 120 patents, aimed at enhancing the green transformation of mining power [4]. - The new products are designed to operate efficiently in high-altitude conditions and have a comprehensive overhaul cycle of 20,000 hours, showcasing their competitive advantages [2][3]. Group 3: Service and Support - Weichai has established a mining service base and a robust service network with over 5000 service stations, offering comprehensive support solutions including 24-hour assistance and specialized training programs [5]. - The company aims to create greater value for customers through tailored service policies, including free training and lifecycle solutions [5]. Group 4: Industry Engagement - The launch event included a forum discussing trends in mining intelligence, domestic substitution, and industry cooperation, highlighting Weichai's commitment to becoming a benchmark in mining power solutions [5].

Core Points - The company has approved the repurchase and cancellation of a portion of restricted stock due to unmet conditions for the second release period of the 2022 restricted stock incentive plan [1] - A total of 14,807,763 shares, accounting for 0.7595% of the company's total share capital, will be repurchased and canceled [1] - Following the completion of the repurchase, the total number of shares will change from 1,949,769,173 to a new total, which will be confirmed after the application is processed [2] Debt Creditor Notification - Creditors have 30 days from receiving the notification or 45 days from the announcement date to request debt repayment or provide guarantees [2] - Creditors must submit written requests along with relevant proof of claims to the company [2][3] - Various methods for submitting claims include in-person, mail, email, or fax, with specific documentation required based on the type of creditor [3]

Group 1: Business Layout - The company confirmed that it is not involved in industrial robotics business, except for smart logistics delivery vehicles [1] - Currently, there is no business related to drone engines, but the company has increased its investment in Kunming Yunnei Intelligent Equipment Co., which includes sales of intelligent unmanned aerial vehicles [1][2] Group 2: Performance and Financials - The company has reported a significant loss of 800 million in the fourth quarter for four consecutive years, attributed to asset impairment and provisions [2] - In 2024, the company improved the gross margin of single-engine units through technological upgrades, but the fourth-quarter loss was impacted by industry business policies and year-end asset impairment provisions [2] Group 3: Future Strategy - The company is facing challenges in the commercial vehicle market and aims to enhance management and foster emerging businesses for transformation [2] - The company is currently under investigation by the China Securities Regulatory Commission, with no results available yet [2]

证券代码：000338 证券简称：潍柴动力 公告编号：2025-035 潍柴动力股份有限公司 关于回购股份事项前十名股东和前十名无限售条件股东 持股情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 潍柴动力股份有限公司（下称"公司"）于2025年4月29日召开2025 年第四次临时董事会会议，审议通过了《关于回购公司部分A股股份方 案 的 议 案 》 ， 具 体 内 容 详 见 公 司 于 2025 年 4 月 30 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）上披露的《潍柴动力股份有限公司关于回 购公司部分A股股份的方案》。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监 管指引第9号——回购股份》等相关规定，现将公司2025年第二次临时 股东大会的股权登记日（即2025年5月13日）登记在册的前十名股东和 前十名无限售条件股东的名称、持股数量及持股比例情况公告如下： 一、股权登记日（即2025年5月13日）公司前十名股东持股情况 序号 股东名称 持股数量（股） 持股比例 中国人寿保险股份有限公司－传 ...

编号：2025-03 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动类 | □媒体采访 ☑业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（电话会议） | | 活动参与人员 | 接待对象：网上投资者 | | | 接待人员：公司董事长、总经理杨波先生、财务总监朱国友先生、董 | | | 事会秘书翟建峰先生 | | 时间 | 2025 年 5 月 16 日 (周五) 下午 16:00-17:00 | | 地点 | 全景网"投资者关系互动平台"（https://ir.p5w.net） | | 形式 | 网络远程 | | | 公司就投资者在本次说明会中提出的问题进行了回复，问答环节 | | | 主要内容如下： | | | 1、请问贵公司有没有涉及工业机器人业务，若涉及请问是什么 | | | 业务，是否有在售产品或生产线的搭建？ | | | 您好，目前公司除智能物流配送车外，无其他机器人业务。谢谢！ | | | 2、公司发动机可以间接用于航空或者无人机相关领域吗？ | | 交流内容及具体问 | 目前公司暂无航空和无人机发动机业务， ...

Core Viewpoint - In 2024, Yunnei Power maintains a strong leading position in the diesel engine segment while actively pursuing transformation in traditional internal combustion engines and new energy strategies, focusing on technological innovation in diesel engines, hybrid systems, and hydrogen fuel cells, alongside developing emerging business projects centered on intelligent and green manufacturing to support the company's upgrade and sustainable development [1][6]. Group 1: Company Overview - Yunnei Power, established nearly sixty years ago, is a joint-stock listed company initiated by Yunnan Internal Combustion Engine Factory, with its actual controller being the Kunming State-owned Assets Supervision and Administration Commission [2]. - The company has solidified its position in the engine business, achieving breakthroughs in key core technologies, lightweight design, energy efficiency, and new product development, with its engine products reaching advanced domestic levels in economic efficiency, reliability, and environmental protection [2][4]. - As of December 31, 2024, the company holds 335 valid patents in the engine field, including 231 utility model patents, 68 design patents, and 36 invention patents [2]. Group 2: Product Performance and Revenue - In 2024, the company achieved a revenue of 4.731 billion yuan, with engine products generating 3.962 billion yuan, accounting for 83.75% of total revenue, while parts and other products contributed 556 million yuan, representing 11.74% [4]. - The company's diesel engines meet national emission standards, with series "90, 95, 100, 102" achieving National IV standards, showcasing excellent power, economy, and reliability [4]. - The company has established a production capacity of 850,000 engines annually, positioning it as a leader in the industry [5]. Group 3: Quality Management - The company operates under the IATF16949:2016 quality management system, ensuring product quality stability through rigorous control at every management stage, from raw material procurement to production and inspection [3]. - It has received numerous accolades, including being recognized as a national advanced typical enterprise for integrity and a benchmark enterprise for product and service quality [3]. Group 4: New Energy and Intelligent Manufacturing - The company is actively expanding its new energy business, focusing on hybrid, range-extended, dual-fuel, and hydrogen fuel cell products, aligning with the "dual carbon" strategy [6]. - In 2024, the company launched hybrid products in collaboration with major automotive manufacturers and is developing a comprehensive product system for fuel cells [6]. - The company is also advancing in intelligent manufacturing, with projects like smart rubber tapping machines and L4-level intelligent delivery vehicles, having received testing licenses for autonomous delivery vehicles in Kunming [7].

来源：人民日报微信公众号 "白血病复发期间的困难与不便 远非几段文字能够描述 万幸被雪覆盖的道路，终于通向春天" 近日，北京理工大学机械与车辆学院 动力工程及工程热物理专业 当时的刘泽昌就立下宏愿：用技术创新锻造国之重器！ 两年后，他以优异成绩考入北理工机械与车辆学院发动机研究所，师从刘福水教授。 刘泽昌与指导老师何旭 在发动机研究所读书期间，刘福水教授指导他攻克低温冷启动技术难关；何旭老师则通过光学诊断技术 帮他开展燃烧机理研究。 当研究渐入佳境时，刘教授确诊胃癌晚期的消息击碎平静。 2021级博士生刘泽昌 两战白血病的故事，引发关注 时间回到刘泽昌大二时，一场关于发动机设计的讲座，让他见识到刘福水教授领衔的一项突破性成果， 是如何推动我国装备动力系统实现代际跨越。 这位将一生奉献给坦克发动机事业的学者，在病床上仍坚持工作，直到生命最后时刻。 "愿我国能源与动力学科早日跻身国际一流行列！祝我国早日成为设计与制造强国！"刘福水教授用生命 践行了铁甲报国的铮铮誓言。 病榻上的刘福水在指导学生 在刘福水教授的言传身教下，刘泽昌深刻认识到国家重点领域动力装备自主创新的重要性和紧迫性—— 问题摆在面前，传统发动机在高 ...