资料显示，宇通客车股份有限公司位于河南省郑州市管城回族区宇通路6号，成立日期1997年1月8日， 上市日期1997年5月8日，公司主营业务涉及客车的研发、生产和销售;客车零部件的研发、生产和销 售。主营业务收入构成为：客车制造分部94.41%，对外贸易分部32.14%，其他分部12.13%，客运分部 0.07%。 2月26日，宇通客车跌5.07%，截至发稿，报29.56元/股，成交7.28亿元，换手率1.09%，总市值654.44亿 元。 华泰柏瑞沪深300ETF（510300）成立日期2012年5月4日，最新规模4222.58亿。今年以来收益2.44%， 同类排名4224/5572；近一年收益23.84%，同类排名2653/4311；成立以来收益121.46%。 华泰柏瑞创新升级混合A（000566）成立日期2014年5月6日，最新规模3.17亿。今年以来收益10.22%， 同类排名2205/8887；近一年收益29.48%，同类排名3460/8134；成立以来收益355.01%。 华泰柏瑞创新升级混合A（000566）基金经理为刘腾飞。 截至发稿，刘腾飞累计任职时间130天，现任基金资产总规模4.7亿元， ...

2月25日，安凯客车（000868）（000868）公告，持股5%以上股东安徽省投资集团（下称"省投资集 团"）在2025年11月27日至2026年2月24日通过集中竞价交易减持219.71万股，占公司总股本的0.23%。 粗略估算后，省投资集团本次减持金额约1105.14万元。 | 股东名称 | 减持方式 | 减持期间 | 减持均价 | 减排股值 | 减排比例 | | --- | --- | --- | --- | --- | --- | | | | | (元/股) | (股) | (%) | | 安徽省投资 | 集中竞价交易 | 2025年11月27日 | 5.03 | 2, 197, 100 | 0. 23% | | 集团控股有 | | =2026年2月24日 | | | | | 限公司 | 合計 | | 5.03 | 2, 197, 100 | 0. 23% | 值得注意的是，省投资集团在短短半年的时间内已实施两次减持，累计套现约6592万元。2025年8月26 日至2025年9月15日，省投资集团减持了939.51万股，占公司总股本的1%，减持金额约5486.74万元。 | 股东名称 | 减持方式 ...

Core Insights - The domestic commercial vehicle market is expected to see strong growth in 2025, driven by the rise of new energy vehicles (NEVs) and vehicle scrapping policies [1][5] - January 2023 saw a significant increase in commercial vehicle sales, reaching 200,000 units, a 19% year-on-year increase, although down 34% month-on-month [1][5] - The penetration rate of NEVs in commercial vehicles is projected to reach 29% in 2025, up from 20% in 2024, indicating a robust growth trend [1][11] Commercial Vehicle Market Analysis - In January 2023, commercial vehicle sales reached 200,000 units, marking a 19% increase year-on-year and a new high for January in recent years [1][5] - The total commercial vehicle sales for 2025 are projected to be 3.1 million units, reflecting a 9% year-on-year growth [5][4] - The market has shown a recovery from previous years' declines, with 2023-2024 sales stabilizing around 2.85 million units [5] New Energy Commercial Vehicle Sales - The sales of new energy commercial vehicles reached 91,000 units in 2025, representing a 57% year-on-year increase [7][9] - In January 2026, new energy commercial vehicle sales are expected to hit 50,000 units, a 63% increase year-on-year [7][9] - The penetration rate of new energy vehicles in commercial vehicles is projected to be 26% in January 2026, up 7 percentage points from the previous year [11][9] New Energy Vehicle Penetration Rate - The penetration rate of new energy commercial vehicles was around 3% from 2019 to 2021, increasing to 9% in 2022 and 11% in 2023 [11] - By 2024, the penetration rate is expected to reach 20%, and 29% by 2025, indicating a strong upward trend [11][1] - In January 2026, the penetration rate for new energy vehicles in trucks is projected to be 21%, while for buses it is expected to be 54% [13][11] Market Structure and Competition - The commercial vehicle market is primarily supported by light and heavy truck manufacturers, with companies like Foton, Wuling, and Sinotruk leading in sales [14] - Heavy trucks have shown significant improvement in sales due to subsidy policies, with electric heavy trucks gaining traction [16][15] - The light truck market is also seeing strong performance, particularly in the Southwest and Northwest regions, with increasing penetration of new energy vehicles [17][18]

Group 1: Heavy Truck Market Outlook - In 2025, the heavy truck wholesale sales are expected to reach 1.144 million units, representing a year-on-year increase of 26.8% driven by the "old-for-new" policy, with domestic sales projected at 799,000 units (+32.7%) and exports at 341,000 units (+17.4%) [1] - The heavy truck industry is entering a new upward cycle after three years of decline, with strong demand from non-Russian regions such as the Middle East and Southeast Asia becoming key growth drivers [2] - The proportion of diesel heavy trucks is declining, while natural gas heavy trucks are expected to maintain stable growth, and new energy heavy trucks are anticipated to lead sales growth [2] Group 2: Bus Market Outlook - The bus industry is entering a new cycle characterized by "domestic demand stabilization and high export growth," with wholesale sales of large and medium buses projected at 122,000 units in 2025, a year-on-year increase of 5.1% [3] - Domestic sales of large and medium buses are expected to be 65,000 units (-10.6%), while exports are projected at 59,000 units (+34.6%), with strong performance in the new energy bus segment [3] - In 2026, the bus market is expected to see continued domestic demand growth, with wholesale sales projected at 146,000 units (+20.0%) and exports at 78,000 units (+32.0%), driven by the "old-for-new" policy and increasing penetration of new energy buses in overseas markets [4]

Core Viewpoint - The commercial vehicle industry in China is experiencing a strong recovery, with significant growth in both domestic demand and exports, driven by supportive policies and market resilience [1][3]. Group 1: Market Performance - In 2025, the total sales of commercial vehicles reached 4.3 million units, marking an 11% year-on-year increase [1]. - The heavy truck market achieved cumulative sales of 1.145 million units in 2025, a remarkable 27% increase, making it a core engine for the industry's recovery [3]. - Light trucks also performed well, with sales surpassing 2 million units, reaching 2.024 million, a 6.5% increase year-on-year [3]. - The bus sector sold 574,000 units, reflecting a 12.3% growth, with exports exceeding 150,000 units, a nearly 20% increase [3]. - The overall export of commercial vehicles entered the "million vehicle club" for the first time, totaling 1.06 million units, a 17% increase [3]. Group 2: New Energy Vehicles - Sales of new energy heavy trucks reached 231,100 units, with a penetration rate exceeding 50% for the first time in December [3]. - New energy light trucks sold nearly 180,000 units, with a December penetration rate of 42% [3]. Group 3: January 2026 Performance - In January 2026, commercial vehicle sales totaled 359,000 units, a 23.5% year-on-year increase [6]. - Heavy truck sales reached 105,000 units, up 46% year-on-year, while medium truck sales were 14,000 units, a 32.6% increase [6]. - Light truck sales, including pickups, were 160,000 units, an 8.5% increase, and micro trucks saw a significant rise of 93.4% to 45,000 units [6]. - Bus sales reached 8,000 units, reflecting an 18.7% growth, and exports for January were 93,000 units, a 23.6% increase [6]. Group 4: Future Outlook - The commercial vehicle industry is expected to maintain a positive trajectory in 2026, supported by government policies aimed at promoting green consumption and high-quality development [6][8].

证券日报网讯2月13日，宇通客车（600066）在互动平台回答投资者提问时表示，公司坚持通过持续的 技术创新、卓越的产品品质和完善的售后服务等，不断提升品牌影响力。 ...

（文章来源：证券日报） 证券日报网讯 2月13日，宇通客车在互动平台回答投资者提问时表示，公司在海外市场拥有超400家授 权服务网点，平均服务半径120公里，覆盖海外全部目标市场，并在哈萨克斯坦、智利、坦桑尼亚等建 设自营站，提升宇通品牌形象，为客户提供优质服务。公司在卡塔尔、墨西哥、阿联酋、法国、巴拿马 等国家自建了40余个海外配件库，授权近80个配件经销商，并推进配件全过程透明化管理，为终端客户 提供便捷、高效的配件供应。公司在海外市场布局近800名服务人员，深入客户经营、运营过程中开展 服务工作，做好客户服务及车辆保障工作。 ...

证券日报网讯 2月13日，宇通客车在互动平台回答投资者提问时表示，公司在新兴市场持续关注当地经 济发展与客户需求变化，通过提供适配的产品与解决方案满足市场需要。 （文章来源：证券日报） ...

证券日报网讯2月13日，宇通客车（600066）在互动平台回答投资者提问时表示，利用技术和产业链优 势，公司已在哈萨克斯坦、巴基斯坦、埃塞俄比亚、马来西亚等十余个国家和地区通过KD组装方式进 行本土化合作，实现由"产品输出"走向"技术输出和品牌授权"的业务模式升级。 ...

证券日报网讯2月13日，宇通客车（600066）在互动平台回答投资者提问时表示，公司已建立完善的客 户服务与应急响应机制，坚持"不把市场当试验场，要把试验场做市场"的质量管理理念，产品验证标准 严格。 ...