乌鲁木齐市公共交通集团有限公司 200 辆新能源公交车采购项目中标结果公示 (招标编号: SJX-2025-332) 一、中标人信息: 标段(包)[001]乌鲁木齐市公共交通集团有限公司 200 辆新能源公交车采购项目标段一: 中标人:新疆客车厂有限公司 标段(包)[002]乌鲁木齐市公共交通集团有限公司 200 辆新能源公交车采购项目标段二: 中标人:新疆客车厂有限公司 中标价格:3165 万元 二、其他: 7月10日，乌鲁木齐市公共交通集团有限公司200辆新能源公交车采购项目中标结果公示发 布。公示显示，标段一和标段二中标人均为新疆客车厂有限公司，中标价格分别为17850万元 和3165万元。 本招标项目的监督部门为乌鲁木齐市公共交通集团有限公司 纪检。 四、联系方式 招 标 人:乌鲁木齐市公共交通集团有限公司 电子邮件: / 标段(包)[001]标段一:购置 170 辆 10.5 米低入口配电度数 300 度纯电动城市公交大客 车: 中标人:新疆客车厂有限公司 | 中标价格:17850 万元 标段(包)[002]标段二:购置 30 辆 10.5 米低入口配电度数 300 度纯电动城市公交大客车: 中标人 ...

证券研究报告 东吴证券晨会纪要 东吴证券晨会纪要 2025-07-09 宏观策略 [Table_MacroStrategy] 海外周报 20250706：6 月超预期非农令市场降息预期延后至 9 月 核心观点：本周美越贸易协议与对华芯片设计软件出口限制解除提振市 场情绪，美股上涨；而经济数据的走强令美债利率随降息预期降温而大幅 上行，10 年期美债利率全周升 6.89bps 至 4.346%。本周美国"软数据" PMI 调查超预期，ISM 服务业 PMI 重回荣枯线之上。而周五公布的"硬 数据"美国 6 月非农就业再度超预期，失业率也有所回落，市场对此解 读偏乐观，7 月降息预期被彻底打消。此外本周特朗普《大美丽法案》 （OBBB）正式签署落地，债务上限进一步提高 5 万亿美元至 41 万亿美 元。由于《大美丽法案》带来的赤字增加预期已被市场关注许久，因此 OBBB 的落地或意味着"买预期、卖现实"的交易进入后半程。短期看， 30 年美债利率或 10s30s 期限利差的上行或因此告一段落。 风险提示： 特朗普政策超预期；美联储降息幅度过大引发通胀反弹甚至失控；美联储 维持高利率水平时间过长，引发金融系统流动性 ...

Core Insights - The launch of Yutong's high-end S series model, Tianyu S12, represents a significant response to the booming high-end tourism market in China, showcasing the company's integration of global resources in research and development [2][11] - The global tourism market is projected to reach 14.2 billion trips and $6.1 trillion in revenue in 2024, indicating a strong recovery and a shift towards high-end travel experiences [3] - High-end tourism is experiencing a structural transformation, with consumers willing to pay a premium for quality experiences, leading to a demand for upgraded travel products and services [3][12] Industry Trends - The high-end tourism market has surpassed $1.7 trillion, growing at a rate of 23.4%, reflecting a shift from price-sensitive to experience-oriented consumption [3] - There is a growing need for high-quality travel tools, as high-end travelers believe that the quality of transportation directly impacts their overall satisfaction [4] - The current bus market lacks sufficient high-end models and service standards, highlighting the need for a new product standard system in the industry [4][11] Yutong's Strategic Positioning - Yutong aims to address market demands by establishing a new product standard system, focusing on four key elements: excellent experience, beautiful design, superior operation, and high quality [4][11] - The Tianyu S12 is designed to meet the needs of high-end tourism and business reception, offering customized solutions for various scenarios [7][12] - Yutong's competitive edge is reinforced by 102 patented technologies, setting new industry benchmarks in terms of vehicle specifications and user experience [7][8] Product Features and Innovations - The Tianyu S12 features advanced technologies such as an active remote pre-purification system, zero-gravity seats, and a dedicated navigation system tailored for buses, enhancing passenger comfort and safety [8][9] - The vehicle's design includes a spacious interior, high visibility, and a long service life, which collectively redefine high-end bus standards [7][8] - Yutong's cloud platform, "Anruitong," provides intelligent operational support, optimizing maintenance and monitoring for improved efficiency [9][12] Market Impact and Future Outlook - The introduction of the Tianyu S12 signifies a pivotal moment in the evolution of China's bus manufacturing industry, aligning with global standards and enhancing competitiveness [11][12] - Yutong is transitioning from a hardware supplier to a comprehensive solution provider, fostering collaboration with tourism and transportation sectors to enhance the overall travel experience [12] - The company's commitment to innovation and quality is expected to drive further growth in the high-end travel market, establishing new benchmarks for the industry [12]

Core Viewpoint - Yutong Bus has launched its first high-end highway passenger bus, the Tianyu S12, in response to the evolving trends in tourism consumption and diversified travel demands, indicating a strategic shift towards high-end models despite a shrinking market for traditional buses [2][3]. Industry Trends - The market for highway passenger buses has been compressed due to changes in travel methods, leading to a decline in their status as the preferred choice for intercity and provincial travel [2]. - The demand and positioning of large buses have transformed, now serving as important facilitators for consumption upgrades and tourism expansion rather than merely transporting passengers from point A to point B [2]. Product Features - The Tianyu S12 exceeds national standards for large high-level buses and features industry-leading performance in air purification and structural longevity [3]. - 86% of the 114 key performance indicators of the Tianyu S12 align with those of top international high-end buses, showcasing its competitive edge in energy consumption, interior space, and aesthetics [3]. Design Philosophy - The design of the Tianyu S12 integrates Eastern aesthetics with global technology, drawing inspiration from traditional Chinese elements such as Ming-style furniture and ancient architecture [4]. - The vehicle's design team meticulously selected colors from over 1,000 options, simulating various lighting conditions to ensure optimal visual appeal, reflecting a commitment to high-end design [4]. Market Positioning - The launch of the Tianyu S12 aligns with the current phase of China's tourism industry, which is transitioning from rapid recovery to prosperous development, highlighting consumer aspirations for enhanced travel experiences [2]. - The emphasis on aesthetic design and high-end features in the Tianyu S12 sets a precedent for the future of China's bus industry, suggesting a potential for greater recognition on the international stage [5].

(招标编号: SJX-2025-332) 公示结束时间: 2025 年 07 月 09 日 一、评标情况 标段(包)[001]鸟鲁木齐市公共交通集团有限公司 200 赖新能源公交车采购项目标段一： 1、中标候选人基本情况 中标候选人第１名:新疆客车厂有限公司,投标报价:17850万元,质量:合格,工 期/交货期/服务期:55天; 7月4日，乌鲁木齐市公共交通集团有限公司200辆新能源公交车采购项目中标候选人公示发 布。标段1为170 辆10.5米低入口配电度数300度纯电动城市公交大客车，中标候选人前三名 依次为新疆客车厂有限公司、宇通客车股份有限公司和扬州亚星客车股份有限公司。 标段2为30 辆10.5米低入口配电度数300度纯电动城市公交大客车，中标候选人前三名依次 为新疆客车厂有限公司、中车时代电动汽车股份有限公司和宇通客车股份有限公司。可见，两 标段中标候选人第一名均为新疆客车厂有限公司，其对应两标段投标报价分别为17850万元和 3165万元，投标总报价为21015万元。 乌鲁木齐市公共交通集团有限公司 200 辆新能源公交车采购项目中标候选人公 示 标段(包)[002]鸟鲁木齐市公共交通集团有限公 ...

Group 1 - The event organized by the Henan Securities Regulatory Bureau aimed to enhance the governance and compliance practices of listed companies in Henan, with Yutong Bus as a model company [1][2] - The event included a visit to Yutong Bus's brand experience center and its new energy bus assembly workshop, showcasing the company's commitment to quality and innovation in the bus manufacturing industry [1] - Over 50 participants, including secretaries of boards from 42 listed companies and media representatives, attended the event to learn from Yutong's practices [1] Group 2 - Yutong Bus's secretary shared insights on governance and compliance, covering five key areas: information disclosure, corporate governance, investor relations, public opinion management, and capital operations [2] - The sharing session utilized various tools such as tables, checklists, manuals, and Q&A databases to simplify legal requirements into actionable processes [2] - The Henan Listed Companies Association emphasized the role of leading companies in enhancing governance and compliance, and plans to continue organizing similar events to improve the overall operational standards of listed companies in Henan [2]

金龙汽车（600686）公告，2025年6月客车销售量为4283辆，同比下降9.83%。1-6月累计客车销售量为 22510辆，同比下降1.88%。 ...

当前，客车行业，尤其是客旅出行场景高端化趋势已不可逆转。那么，宇通如何做到精准"把 脉"，更好地向高端化迈步？ 近日，宇通客车发布了全新高端S系列首款作品——天域S12。作为国内客车行业高端化的标 杆与旗舰车型，天域S12是宇通整合全球优质资源、融合数十年造车智慧的突破之作，也是作 为客车领军企业对道路客运行业时代需求的深切回应。 发布会后，第一商用车网等行业媒体对宇通客车高端化路线的布局进行了深度了解。在公转 航、公转铁等竞争下，宇通又该如何顶住行业压力，实现细分场景全新突破？ 客旅高端化趋势尽显，宇通精准布局 相关数据显示，2024年，国内出游人次达56.15亿，接近历史最高水平；旅游总收入更是达 5.75万亿元，人均单次出游花费1024元，同比增长1.9%。同时，小包团、定制团、自由行等 新兴旅游模式的热度也在不断攀升，民众对旅游出行的多样化、个性化和品质化需求也在逐渐 增多。 可见，当前国内客旅行业已经快速迈向高端化新阶段。对此，作为国内客车行业的领军企业与 代表品牌，宇通前瞻性预判到了市场对高端化的需求，并早早在高端化场景中进行了布局。 第一商用车网了解到，2002年初，宇通客车就打造了ZK6120 ...

联合研究丨组合推荐 [Table_Title] 大消费行业 2025 年 7 月金股推荐 %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 长江大消费九大优势行业（农业、零售、社服、汽车、纺服、轻工、食品、家电、医药）2025 年 7 月重点推荐金股。 分析师及联系人 [Table_Author] 陈佳 李锦 赵刚 SAC：S0490513080003 SAC：S0490514080004 SAC：S0490517020001 SFC：BQT624 SFC：BUV258 SFC：BUX176 高伊楠 于旭辉 蔡方羿 SAC：S0490517060001 SAC：S0490518020002 SAC：S0490516060001 SFC：BUW101 SFC：BUU942 SFC：BUV463 董思远 陈亮 彭英骐 SAC：S0490517070016 SAC：S0490517070017 SAC：S0490524030005 SFC：BQK487 SFC：BUW408 SFC：BUZ392 请阅读最后评级说明和重要声明 2 / 11 ...

Core Viewpoint - The automotive industry shows resilience in its fundamentals, with AI growth style stocks outperforming expectations in H1 2025. The performance of various sub-sectors aligns with expectations, although some areas fell short. The automotive robotics sector performed the best, followed by passenger vehicles, two-wheelers, and heavy trucks, while dividend styles lagged behind AI growth styles [2][8]. Summary by Sections H1 2025 Automotive Industry Review - The automotive sector's fundamentals remained strong, with the "old-for-new" policy effectively supporting the market. Overall performance met expectations, with some sub-sectors underperforming. The automotive robotics sector led in stock performance, followed by passenger vehicles, two-wheelers, and heavy trucks, while dividend styles underperformed compared to AI growth styles [2][8]. H2 2025 Stock Selection Strategy - The automotive industry is at a crossroads, reminiscent of 2011 and 2018. The end of the electric vehicle (EV) boom is approaching, while the smart vehicle sector is emerging. Commercial vehicles and two-wheelers are seen as promising investment areas. The strategy focuses on identifying cyclical alpha stocks and embracing the next industrial trends of smart technology and robotics [3][8]. H2 2025 Key Stock Adjustments - The focus will shift to increasing the weight of dividend and quality stocks. Recommended stocks include: - Dividend & Quality: Yutong Bus, China National Heavy Duty Truck, Chunfeng Power, and parts suppliers like Fuyao Glass and Xingyu Co. - AI Growth: Xpeng Motors, Li Auto, Huawei (Seres and SAIC), and parts suppliers like Horizon Robotics and Top Group [4][8]. 2025 Automotive Sector Outlook - Key assumptions include the continuation of the "old-for-new" policy and no escalation in trade war risks. - Passenger Vehicles: Total domestic sales forecasted at 23.66 million units (up 3.9% YoY), with new energy vehicle sales at 14.32 million units (up 33% YoY). - Heavy Trucks: Domestic sales expected at 700,000 units (up 16.3% YoY). - Buses: Domestic sales forecasted at 87,600 units (up 20% YoY). - Motorcycles: Domestic sales expected at 4.46 million units (down 4% YoY) [5][8].