| | | | 產 量（輛） | | | | | 銷 | 量（輛） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 單 位 | | | 月度同比 | | 累計同比 | | | 月度同比 | | | 累計同比 | | | 本月數 | 去年同期 | 增減 | 本年累計 | 去年累計 | 增減 本月數 | 去年同期 | 增減 | 本年累計 | 去年累計 | 增減 | | | | | （%） | | | （%） | | （%） | | | （%） | | 廣汽本田汽車 有限公司 | 33,555 | 34,421 | -2.52% | 249,267 | 292,530 | -14.79% | 32,808 35,130 | -6.61% | 223,905 | 309,169 | -27.58% | | 廣汽豐田汽車 有限公司 | 81,459 | 65,242 | 24.86% | 550,593 | 518,468 | 6.20% | 76,500 72,278 | 5.84% | 543,183 ...

Core Insights - BYD reported a decline in September production and sales of new energy vehicles (NEVs), with production at 405,554 units, down 8.05% year-on-year, and sales at 396,270 units, down 5.52% year-on-year [2][3] Production Summary - September production of NEVs was 405,554 units, compared to 441,052 units in the same month last year, resulting in a year-to-date production of 3,213,569 units, which is a 16.40% increase from 2,760,910 units last year [3] - Passenger vehicle production in September was 402,008 units, down 8.47% year-on-year, with a year-to-date production of 3,171,466 units, reflecting a 15.35% increase [3] - Pure electric vehicle production in September reached 204,838 units, a 20.31% increase year-on-year, with a cumulative production of 1,578,176 units, up 34.56% [4] - Plug-in hybrid vehicle production in September was 197,170 units, down 26.67% year-on-year, with a year-to-date production of 1,593,290 units, showing a slight increase of 1.06% [4] - Commercial vehicle production in September was 3,546 units, a significant increase of 94.30% year-on-year, with a cumulative production of 42,103 units, up 266.94% [5] Sales Summary - September sales of NEVs totaled 396,270 units, down 5.52% year-on-year, with year-to-date sales at 3,260,146 units, an 18.64% increase from 2,747,875 units last year [2][3] - Passenger vehicle sales in September were 393,060 units, down 5.88% year-on-year, with a cumulative sales figure of 3,218,862 units, reflecting a 17.63% increase [3] - Pure electric vehicle sales in September reached 205,050 units, a 24.34% increase year-on-year, with cumulative sales of 1,605,903 units, up 37.31% [4] - Plug-in hybrid vehicle sales in September were 188,010 units, down 25.66% year-on-year, with a year-to-date sales figure of 1,612,959 units, showing a 2.94% increase [4] - Commercial vehicle sales in September totaled 3,210 units, a 75.97% increase year-on-year, with cumulative sales of 41,284 units, up 259.80% [5] Export and Battery Installation - In September, BYD exported a total of 71,256 NEVs [5] - The total installed capacity of power batteries and energy storage batteries in September was approximately 23.2 GWh, with a cumulative installed capacity of about 203.251 GWh for 2025 [5]

证券代码：600166 证券简称：福田汽车 编号：临2025—077 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 北汽福田汽车股份有限公司2025年9月份各产品产销数据快报如下： 董 事 会 二〇二五年十月八日 注：1.本表为销售快报数据，具体数据以定期报告数据为准。2.福田戴姆勒与福田康明斯是50：50的合 资公司。福戴重型货车9月销量9925辆，1-9月累计销量74965辆，累计同比73.90%；福康发动机9月销量 15410台，1-9月累计销量133944台，累计同比12.98%。3.新能源汽车包括纯电动汽车、氢燃料电池汽 车、插电式混合动力汽车。4.商用车数据含非完整车辆，轻型货车数据含微型货车。 北汽福田汽车股份有限公司 ...

该协会首席执行官迈克·霍斯表示，8月通常是汽车行业的"淡季"，但今年的情况更为复 杂。英国政府应加快落实新的工业战略和产业举措，以支持汽车产业在就业、经济和贸易 中继续发挥关键作用。 英国8月汽车产量创下自1 9 56年以来同期最低水平。 英国汽车制造商和贸易商协会25日发布数据显示，英国8月汽车产量创下自1 9 5 6年以来同 期最低水平，海外市场需求疲软和关税壁垒等为影响主因。 数据显示，当月英国汽车总产量约为3.87万辆，同比下降18.2%。其中，轿车产量约为 3 . 7万辆，同比下降1 0 . 2%；商用车仅生产1 6 2 1辆，同比骤降7 3 . 2%。 当月，电动车型成为罕有亮点，混合动力、插电式混合动力和纯电动轿车产量约达1.68万 辆，同比增长4 0 . 9%，几乎占轿车总产量的一半。 分析指出，8月数据反映出产业调整和海外市场需求放缓的双重压力，对欧盟市场的出口 受到需求疲软和监管趋严影响，对美国市场的出口则继续承压于关税壁垒和贸易摩擦。 来源：新华社 End 欢迎分享给你的朋友！ 出品 | 中国能源报（c n e n e rg y） 责编丨李慧颖 ...

当月，电动车型成为罕有亮点，混合动力、插电式混合动力和纯电动轿车产量约达1.68万辆，同比增长 40.9%，几乎占轿车总产量的一半。 分析指出，8月数据反映出产业调整和海外市场需求放缓的双重压力，对欧盟市场的出口受到需求疲软 和监管趋严影响，对美国市场的出口则继续承压于关税壁垒和贸易摩擦。 英国汽车制造商和贸易商协会25日发布数据显示，英国8月汽车产量创下自1956年以来同期最低水平， 海外市场需求疲软和关税壁垒等为影响主因。 该协会首席执行官迈克·霍斯表示，8月通常是汽车行业的"淡季"，但今年的情况更为复杂。英国政府应 加快落实新的工业战略和产业举措，以支持汽车产业在就业、经济和贸易中继续发挥关键作用。 数据显示，当月英国汽车总产量约为3.87万辆，同比下降18.2%。其中，轿车产量约为3.7万辆，同比下 降10.2%；商用车仅生产1621辆，同比骤降73.2%。 （文章来源：新华社） ...

9月25日，江淮汽车盘中上涨2.01%，截至09:39，报52.29元/股，成交5.18亿元，换手率0.46%，总市值 1142.02亿元。 江淮汽车今年以来股价涨39.44%，近5个交易日跌5.27%，近20日涨2.15%，近60日涨29.30%。 资金流向方面，主力资金净流入2185.88万元，特大单买入1.39亿元，占比26.82%，卖出1.24亿元，占比 23.95%；大单买入1.28亿元，占比24.71%，卖出1.21亿元，占比23.36%。 今年以来江淮汽车已经1次登上龙虎榜，最近一次登上龙虎榜为6月3日，当日龙虎榜净买入-5.42亿元； 买入总计4.77亿元 ，占总成交额比9.90%；卖出总计10.19亿元 ，占总成交额比21.14%。 截至6月30日，江淮汽车股东户数14.14万，较上期减少42.00%；人均流通股15449股，较上期增加 72.41%。2025年1月-6月，江淮汽车实现营业收入193.97亿元，同比减少9.10%；归母净利润-7.73亿元， 同比减少356.89%。 资料显示，安徽江淮汽车集团股份有限公司位于安徽省合肥市东流路176号，成立日期1999年9月30日， 上市日期 ...

Group 1 - The core viewpoint of the article highlights the performance of the passenger car market in China, indicating a stable retail trend in September 2025 compared to previous years, with a slight year-on-year growth [1][5] - From September 1 to 21, 2025, the national retail sales of passenger cars reached 1.191 million units, a year-on-year increase of 1% and an 8% increase compared to the previous month [1][5] - The cumulative retail sales for the year reached 15.955 million units, reflecting a 9% year-on-year growth [1][5] Group 2 - The retail sales of new energy vehicles from September 1 to 21, 2025, amounted to 697,000 units, marking a 10% year-on-year increase and an 11% increase from the previous month [1][5] - The penetration rate of new energy vehicles in the passenger car market reached 58.5%, with cumulative retail sales for the year at 8.267 million units, a 24% year-on-year increase [1][5] - The article notes that the market is entering the traditional peak season of "Golden September and Silver October," with various local subsidies encouraging consumer purchases [5] Group 3 - The wholesale performance of passenger cars from September 1 to 21, 2025, showed 1.307 million units sold, a 0% year-on-year change and a 16% increase from the previous month [9] - Cumulative wholesale sales for the year reached 19.349 million units, reflecting a 12% year-on-year growth [9] - The article discusses the cautious approach of manufacturers in increasing domestic sales while maintaining price stability and reducing dealer inventory pressure [9]

Group 1 - Jianghuai Automobile's stock price fell by 5.01% on September 23, closing at 49.69 yuan per share, with a trading volume of 3.898 billion yuan and a turnover rate of 3.50%, resulting in a total market capitalization of 108.523 billion yuan [1] - The stock has experienced a continuous decline over three days, with a cumulative drop of 9.44% during this period [1] - Jianghuai Automobile, established on September 30, 1999, and listed on August 24, 2001, is primarily engaged in the research, production, sales, and service of commercial vehicles, passenger vehicles, automotive chassis, and core automotive components [1] Group 2 - The Hongyi Yuanfang Fund holds a significant position in Jianghuai Automobile, with its fund "Hongyi Yuanfang Automotive Industry Upgrade Mixed A" (015527) owning 58,000 shares, accounting for 3.06% of the fund's net value, ranking as the tenth largest holding [2] - The fund has incurred a floating loss of approximately 152,000 yuan today, with a total floating loss of 316,100 yuan during the three-day decline [2] - The fund was established on December 16, 2022, with a current scale of 27.037 million yuan, achieving a year-to-date return of 58% and a one-year return of 92.25% [2]

Core Viewpoint - The report from Guojin Securities suggests that a bull market driven by the recovery of China's profit fundamentals may be emerging, with two main opportunities to focus on: the potential rebound of Hong Kong stocks and a shift in growth investment from technology-driven sectors to export-oriented sectors [1][4]. Group 1: Economic Context - The "preventive rate cuts" by the Federal Reserve have historically led to a "soft landing" for the U.S. economy, with GDP growth reversing downward trends and a slight decrease in unemployment rates [1]. - The Fed has slightly raised its GDP growth forecast for 2025-2027 while lowering unemployment rate predictions for 2026-2027, indicating a more stable economic outlook [1]. Group 2: Impact on Emerging Markets - The impact of U.S. rate cuts on emerging markets occurs through two main channels: alleviating currency depreciation pressures and providing more room for domestic monetary policy [2]. - If the U.S. achieves a "soft landing," emerging markets, particularly net-exporting countries like China, may benefit from increased external demand driven by U.S. capital expenditures [2]. Group 3: Export Opportunities - Historical data shows that export-oriented A-share companies have outperformed the CSI 300 index during previous rate cut cycles, indicating a potential for similar performance in the current cycle [3]. - Guojin Securities has identified 18 sub-industries that may benefit from the current "preventive rate cuts," categorized into three main types: capital goods related to investment, intermediate goods linked to manufacturing recovery, and consumer and pharmaceutical sectors with their own industry trends [3]. Group 4: Investment Recommendations - The report emphasizes that the bull market may be supported by improved operating conditions due to domestic economic adjustments and recovery in manufacturing activities following rate cuts [4]. - Recommended sectors include upstream resources (copper, aluminum, oil, gold), capital goods (engineering machinery, heavy trucks, lithium batteries, wind power equipment), and raw materials (basic chemicals, fiberglass, paper, steel) [4]. - Additionally, sectors related to domestic demand recovery, such as food and beverage, pork, tourism, and scenic spots, are expected to present opportunities as profit recovery progresses [4].

Core Viewpoint - Jianghuai Automobile's stock has experienced fluctuations, with a year-to-date increase of 44.24%, but a recent decline in trading performance [1][2]. Group 1: Stock Performance - On September 19, Jianghuai Automobile's stock price fell by 2.01%, reaching 54.09 CNY per share, with a trading volume of 1.517 billion CNY and a turnover rate of 1.27% [1]. - The company has seen a net outflow of 166 million CNY in principal funds, with large orders showing a buy of 457 million CNY and a sell of 537 million CNY [1]. - Year-to-date, the stock has risen by 44.24%, with a slight decline of 0.75% over the last five trading days [1]. Group 2: Financial Performance - For the first half of 2025, Jianghuai Automobile reported a revenue of 19.397 billion CNY, a year-on-year decrease of 9.10%, and a net profit attributable to shareholders of -773 million CNY, a significant decline of 356.89% [2]. - Cumulative cash dividends since the A-share listing amount to 2.9 billion CNY, with 45.8642 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders decreased to 141,400, while the average circulating shares per person increased by 72.41% to 15,449 shares [2]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 101 million shares, an increase of 41.079 million shares from the previous period [3].