采埃孚集团（ZF Friedrichshafen AG）的债务压力正得到一定缓解，原因是电动汽车转型步伐放缓，提 振了变速箱等关键零部件的需求。 采埃孚首席财务官米夏埃尔・弗里克（Michael Frick）在采访中表示，公司从优先聚焦电动汽车的路 线，转向同时为纯电、混动和燃油车供应零部件，这一战略调整将有助于改善公司财务状况。这家为福 特、大众和BMWYY>宝马供货的德国零部件厂商，已从更有利的再融资成本中受益。 "我们在驱动技术方面确立了新的战略方向。"弗里克称，"我们认为，过去两年经历的利率与信用利差 上升只是阶段性现象。" 作为全球第三大汽车零部件制造商，根据采埃孚9月发布的最新财报，截至2030年底，公司面临逾130亿 欧元（约153亿美元）的再融资义务，持续走高的利率令其承压。财务困境叠加营业利润率下滑，已促 使该公司计划裁员约1.4万人，其中包括电动汽车部门。 责任编辑：陈钰嘉 电动化转型节奏放缓，令行业内多数企业措手不及。Stellantis集团本月也加入福特、通用汽车的行列， 宣布计提222亿欧元的资产减值与相关开支，主要与电动汽车战略调整有关，其中包括推迟多款车型上 市。 责任编辑：陈钰 ...

最被看好的越南，这些年确实接了不少来自中国的订单，苹果、三星都在那建了工厂，出口额也一路上涨。可美国人慢慢发现，越南根本撑不起大规模工业 化的架子。这个国家太小，能源和土地都不够用，一到枯水期就限电，2023年一次电力短缺，就让好几家外资工厂停摆，芯片交付延误了好几周；更关键的 是，越南没有完整的产业链，生产手机、家电的核心零部件，比如芯片、屏幕、电池，还是得从中国进口，说白了就是个"组装厂"，根本算不上真正的工业 化国家。 刚开始，美国上下都信心满满，觉得只要加征关税、施压企业，制造业转移就是顺理成章的事。毕竟在他们眼里，中国能成为"世界工厂"，靠的不过是廉价 劳动力，只要把订单转移到其他劳动力更便宜的国家，就能轻松复制第二个、第三个"中国"。可现实狠狠打了他们的脸，那些被寄予厚望的"接盘国"，一个 个都掉了链子。 再看印度，有着14亿人口，按理说劳动力资源比中国还充足，美国企业也扎堆去那投资，富士康就花了大价钱在印度建工厂。可实际情况却是，工厂建了好 几年，产能始终上不去，土地征用要扯皮、工会纠纷不断，工人的纪律性和协作能力也跟不上，很多精密零部件根本生产不出来。富士康为了保证生产，只 能靠柴油发电机供电 ...

南财智讯2月9日电，山推股份在投资者关系活动中表示，公司零部件产品主要包括履带底盘件及传动部 件：履带底盘件包括履带总成、"四轮"（即托轮、链轮、支重轮和引导轮）及张紧装置总成、整体底盘 总成等3大类别产品；传动部件包括变矩器和变速箱，变矩器产品涵盖20余个型号、100多种规格，变速 箱产品包括定轴式和行星式两大类产品。 ...

投资者关系活动记录表 山推工程机械股份有限公司 | | 【请在您选择的方式的"（ ）"中打"√"，下同】 | | --- | --- | | （ | √）特定对象调研 （ ）分析师会议 | | 投资者关系活动 （ | ）媒体采访 （ ）业绩说明会 | | 类别 （ | ）新闻发布会 （ ）路演活动 | | （ | √）现场参观 | | （ | ）其他 （请文字说明其他活动内容） | | | 财通证券:郭亚新 | | 参与单位名称及 | 泓德基金:李昕阳 | | 人员姓名 | 景领投资:王胜 | | | 爱建证券资管:李致远 | | 时间 2026 年 | 2 月 9 日 | | 地点 | 山推股份办公楼 201 会议室 | | 上市公司接待 肖尧、董建军 | | | 人员姓名 | | | | 一、互动交流 | | | 1、公司零部件业务情况： | | | 公司零部件产品主要包括履带底盘件及传动部件：履带底盘件 | | 投资者关系活动 | 包括履带总成、"四轮"（即托轮、链轮、支重轮和引导轮）及张 | | 主要内容介绍 | 紧装置总成、整体底盘总成等 3 大类别产品；传动部件包括变矩器 | | | 和变速箱，变 ...

从行业背景来看，当前汽车行业正处于能源转型的关键过渡期，宝马坚持"多条腿走路"的策略，既 大力推进电动化车型的研发与落地，也持续优化燃油动力与混合动力技术，确保在不同市场需求下均能 保持竞争力。而变速箱作为燃油车与混动车型的核心部件，其稳定供应直接关系到宝马相关车型的生产 交付与市场表现，此次长期合同的签署，将有效规避供应链波动风险，为宝马多动力布局的稳步推进提 供长效保障。 据悉，这份价值数十亿欧元的长期合同，涵盖了多种规格的变速箱产品，将全面配套宝马未来多年 内的燃油及混动车型生产线。双方将以此为契机，进一步深化技术协同与合作对接，结合汽车行业的发 展趋势，持续优化变速箱产品的性能与效率，助力宝马在动力技术领域保持领先优势。 对于马而言，与采埃孚的长期绑定，不仅保障了核心零部件的稳定供应，也为其成本控制与产能规 划提供了清晰指引；而对于采埃孚来说，这份长期订单将进一步巩固其在全球高端变速箱市场的地位， 提升企业的营收稳定性与市场影响力，实现双方互利共赢的良性发展。 宝马始终秉持多种动力形式同步推进的发展理念，在新能源转型持续深化的当下，燃油发动机仍将 在未来很长一段时间内扮演不可或缺的角色，而变速箱作为燃 ...

Core Viewpoint - Shenzhen Zhaoweide Run Trading Co., Ltd. has been established with a registered capital of 10 million RMB, fully owned by Shenzhen Zhaoweijidian Co., Ltd. [1] Company Information - The legal representative of Shenzhen Zhaoweide Run Trading Co., Ltd. is Xie Yanling [1] - The company is classified under the wholesale and retail industry, specifically in other wholesale sectors [1] - The registered address is located at 62 Yanhua Road, Office Building 101, Yanchuan Community, Yantian District, Shenzhen [1] - The business license allows for self-operated activities without the need for prior approval, except for projects that require legal authorization [1] Shareholding Structure - Shenzhen Zhaoweijidian Co., Ltd. holds 100% of the shares in Shenzhen Zhaoweide Run Trading Co., Ltd. [1] Business Scope - The business scope includes sales of gears and gear reducers, sales of bearings, sales of high-speed precision gear transmission devices, import and export of goods and technology, sales of electronic components and electromechanical equipment, wholesale of hardware products, sales of molds, and sales of bearings [1]

Group 1 - The core viewpoint of the article is that Jindao Technology primarily focuses on low-power gearbox products, with a small portion of its offerings in medium and high-power gearboxes [2]

Market Overview - The A-share market entered a high-level adjustment period after a rapid rise and significant increase in trading volume, with the Every Day Brand 100 Index rising by 0.33% but failing to break through the 1200-point mark [1] - Affected by regulatory counter-cyclical adjustments, major A-share indices fluctuated, with the Shanghai Composite Index falling by 0.45% to close at 4101.91 points, while the Shenzhen Component Index rose by 1.14% to 14281.08 points [2] Company Performance - Weichai Power saw the largest weekly increase among the Every Day Brand 100 Index constituents, with a rise of 14.18% and a market value increase of 22.655 billion yuan [4] - The company sold 536,000 engines in the first three quarters of 2025, with heavy truck engine sales reaching 188,000 units, including 117,000 diesel engines and 71,000 natural gas engines [4] - The heavy truck industry experienced a strong recovery, with a year-on-year growth of 43.6% in sales for the fourth quarter of 2025, indicating a continuation of robust growth [4] Technological Advancements - Weichai Power is leveraging its large-bore engine technology to enter the AI computing power infrastructure supply chain, benefiting from the ongoing demand for energy solutions in data centers [5] - The company has secured a technology licensing agreement with Xili Technology, allowing it to master core technologies in battery and fuel cell systems, enhancing its competitive edge in the SOFC (Solid Oxide Fuel Cell) market [6] - Weichai Power's new generation of high-power metal-supported commercial products has shown significant improvements in efficiency and power density, leading to partnerships with leading domestic and international companies [6] Market Strategy - The company aims to expand its market share by actively pursuing strategic customers both domestically and internationally, with a focus on enhancing product reliability and efficiency [7] - Weichai Power's strong position in the domestic and global markets is supported by a robust order backlog in the SOFC sector and ongoing collaborations with top AI firms [6]

Group 1: Company Overview and Investor Relations - The company conducted investor relations activities including site visits and meetings with representatives from various financial institutions [2][3] - Key participants included representatives from institutions such as 富国基金 (Fidelity Fund), 广发证券 (Guotai Junan Securities), and 中再资产 (China Re Asset) [2] Group 2: Gas Turbine Sales and Performance - The company signed a $106 million contract for gas turbine generator sales, equivalent to approximately ¥742 million, aimed at North American data centers and industrial power supply [3] - The success in North America is attributed to product performance, business experience, delivery capability, and comprehensive service strength [3] Group 3: Supply Chain and Strategic Partnerships - The company has established long-term partnerships with major gas turbine manufacturers like Siemens and Kawasaki Heavy Industries, enhancing its global supply chain [3][4] - The focus is on building a diversified gas turbine supply system to improve supply chain resilience and provide integrated power solutions [3] Group 4: Future Business Outlook - The company aims to deepen its involvement in three key areas: data centers, industrial energy, and new power systems, through continuous technological innovation and product iteration [4] - Plans include developing integrated solutions covering power generation, distribution, and thermal management to enhance energy system safety and efficiency [4] Group 5: Oil and Gas Engineering Services - The company emphasizes selecting high-quality oil and gas engineering projects based on profitability and cash flow criteria [5] - Successful projects include collaborations with Kuwait Oil Company and various other significant EPC projects, enhancing market recognition [5] Group 6: Natural Gas Business Development - To support the growth of its natural gas equipment business, the company has established the杰瑞天然气工业园 (Jereh Natural Gas Industrial Park) and is expanding capacity through various measures [6] - The company is also focusing on talent recruitment and training to ensure efficient operations in research, design, and manufacturing [6] Group 7: Site Visit and Facility Overview - The site visit included an introduction to the geographical layout and functional planning of the industrial park, showcasing high-end equipment manufacturing and natural gas facilities [7] - Key equipment demonstrated included fracturing equipment, cementing equipment, and gas turbine generators, highlighting the company's technological capabilities [7]

投资者提问： 国内汽车市场对进口发动机和进口变速箱需求很大，公司会利用海南加工增值政策生产进口发动机或进 口变速箱吗？谢谢。 董秘回答(海马汽车SZ000572)： 感谢您的提问。加工增值免关税政策是海南自贸港的一项核心优惠政策。公司作为海南唯一整车企业， 将抓住封关历史机遇，助力产业发展并规划自身布局。关于利用该政策开展发动机、变速箱等专用零部 件生产，属于具体的业务规划范畴，公司对各类有利于产业发展的合作始终持开放态度，并将依据公司 整体战略进行审慎评估。谢谢！查看更多董秘问答>> 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 ...