8月25日上午9:00 - 10:00，一汽解放集团股份有限公司在公司会议室接待了汇丰晋信基金、华泰自营、 高盛全球等33家机构的调研。公司总经理助理杨丽、董事会秘书王建勋参与接待。此次投资者活动关系 类别为"其他"。 点击查看公告原文>> 公司管理层先简要介绍公司情况，随后与投资者展开交流，具体内容如下： 1.公司情况：2025年上半 年，一汽解放国内中重卡市场终端份额行业第一，实现营业收入280.79亿元，同比减少23.00%；归属于 母公司净利润0.20亿元，同比减少96.12%。海外市场除东欧大区外，东南亚、西亚、西北非等大区同比 大幅增长。新能源产销量上半年同比大增，转型初见成效。同时，公司重点提升后市场、金融等利润增 长点。 2.以旧换新政策及天然气重卡：以旧换新政策将带来增量订单，国四置换居多，也为天然气重卡 置换带来增量。公司通过信息系统挖掘客户及走访经销商推广政策。天然气中重卡销量受油气价差波动 影响，预计后续政策出台将支撑需求，7月起公司销量同比增长。 3.新能源业务盈利：上半年新能源业 务同比增幅大，处于上量攻坚阶段，单车有边际贡献。随着市场需求扩展，客户向散户渗透，特别是中 长途运输散 ...

证券代码：000800 证券简称：一汽解放 一汽解放集团股份有限公司投资者关系活动记录表 编号：2025-005 3、公司加速深化拓展国际业务，请展望国际市场趋势，以及公司 出口业务的结构和目标。 答：公司在非洲、东南亚、拉美等区域实现销量快速增长，海外出 口向市场均衡方面发展。未来公司在海外业务方面将采取以下措施：一 是加快对于潜力市场的布局；二是聚焦在"一带一路"项目有布局的央 国企单位进行业务拓展；三是强化海外业务的服务和金融支持的拓展， 并根据海外市场的独特需求，开发更适合本地化的产品。 4、请介绍公司后市场业务的开展情况。 答：公司的后市场业务将为公司带来新的业务增量。公司的产品在 国内市场保有量较大；未来公司的后市场业务可为用户提供更多的配 件、油品等，能够为客户安全、经济地使用车辆提供更多的产品和服务， 并有望进一步提升公司的利润水平。 | 投资者关系活动 | □特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | ☑ | 其他 | | 参与单位名称及 | 汇丰晋信基金、华泰自营、 ...

根据山东省工业和信息化厅数据，2025年上半年，山东新能源汽车产量53.2万辆、同比增长107.1%，居 全国第四位，较去年提升5个位次。按照《山东省新能源汽车产业高质量发展行动计划》，到今年年底，山 东将力争实现5000亿元产业规模，产业链供应链稳定性和竞争力显著增强。 整车制造稳步推进 山东省工业和信息化厅装备产业处处长贺强介绍，山东新能源 汽车产业主要有产业链齐全、龙头企业带动显著、产业布局持 续优化、研发创新能力稳步提升等4个特点。 作者： 王惠 封图：图虫创意 2025年8月20日下午，山东省政府新闻办召开"产业链上的山东好品牌"系列现场记者见面会——"链"出新 能源专场。山东重工集团中国重汽济南卡车股份有限公司（下称"中国重汽济南卡车制造公司"）、山东魏 桥新能源汽车科技集团有限公司（下称"魏桥新能源汽车"）、特来电新能源股份有限公司（下称"特来 电"）、山东丰元锂能科技有限公司（下称"丰元锂能"）4家企业齐聚，介绍山东打造国家新能源汽车重要 基地情况。 山东省工业和信息化厅装备产业处处长贺强对经济观察报记者表示，上述4家企业精准覆盖产业链上中下 游，是山东新能源汽车产业实力的缩影：上游丰元锂能深 ...

8月18日10时，36台来自广东东莞的中集灯塔半挂车稳稳停靠在崇左港中心港区濑湍作业区码头。 龙门吊精准将半挂车从货船吊至货台，随即装上等候的新能源重卡——这批国内首批经新公水联运通道 出口东盟的大型机械设备，当日跨越边境，直达越南。这无缝对接的运输场景，标志着中国—东盟间新 添一条公水联运"绿色通道"，使大型机械设备出口物流成本相较传统公路运输直降20％，为中国企业出 海注入强劲竞争力。 崇左港所处的西江水系，是串联粤港澳大湾区与东盟的"国际黄金水道"。近年来，广西持续攻坚左 江航道升级工程，让这条黄金水道真正具备了"直达效应"。如今，粤港澳大湾区出口东盟的大型机械设 备，无需多次中转，可直抵崇左港。 "从东莞到越南，10天'水路＋公路'接力，比全公路运输省了不少成本。"崇左市交通投资有限公司 副总经理李艳香指着作业区里忙碌的场景介绍，这批半挂车8月8日从东莞码头启程，沿西江水系一路西 行进入崇左港，8月18日由新能源重卡转运至友谊关口岸出口，首次实现"船到港、车接货、直达关"全 程无缝衔接。 成本的"减法"里藏着竞争力的"加法"。李艳香算好这笔明白账：以往一组4台半挂车从粤港澳大湾 区经陆路运至友谊关口岸 ...

Core Viewpoint - The electrification penetration rate of commercial vehicles in China is rapidly increasing, with significant growth observed in various segments, indicating a strong trend towards electric commercial vehicles [1][3][6]. Group 1: Overall Electrification Trends - The overall electrification penetration rate for commercial vehicles reached nearly 29% in June and July, with a cumulative rate of 24.35% from January to July, up 7.7 percentage points from the same period last year [1]. - Cumulative sales of new energy commercial vehicles from January to July reached 429,000 units, a year-on-year increase of 56%, while the overall commercial vehicle sales growth was only 6.6% [1]. Group 2: Heavy-duty Trucks - The electrification penetration rate for heavy-duty trucks exceeded 25% for two consecutive months, reaching 25.89% in July, with cumulative sales of nearly 96,000 units from January to July, a 179% year-on-year increase [3]. - The cumulative penetration rate for heavy-duty trucks is close to 23%, up 13 percentage points from the same period last year [3]. Group 3: Light-duty Trucks - The electrification penetration rate for light-duty trucks (3.5-6T) surpassed 27% for two consecutive months, with sales reaching 88,000 units from January to July, a 95% year-on-year increase [6]. - The cumulative penetration rate for light-duty trucks increased to 21.95%, up 8.5 percentage points from the previous year [6]. Group 4: Pickup Trucks - The electrification rate for pickup trucks exceeded 10% in July, marking a significant increase from below 5% in previous years [9]. - Cumulative sales of pickup trucks reached 12,400 units from January to July, a 115% year-on-year increase, with a cumulative penetration rate of 7.8% [9]. Group 5: Light Buses - The electrification penetration rate for light buses is the highest among all commercial vehicle segments, reaching 59.49% from January to July, with cumulative sales of 246,000 units, a 3% year-on-year increase [12]. Group 6: Future Projections - The annual penetration rate for commercial vehicles is expected to reach 26-28% by 2025, with total sales projected to hit a record 800,000 units, a nearly 40% year-on-year increase [15]. - The heavy-duty and light-duty truck segments are expected to see total sales of 190,000 and 180,000 units, respectively, with penetration rates of around 25% and 28% [15]. - The market may face challenges in 2026 due to potential market saturation and changes in tax policies, but the long-term outlook remains positive, with expectations of a penetration rate exceeding 50% by 2030 [17].

Core Viewpoint - In July, domestic heavy truck sales reached 85,000 units, representing a year-on-year increase of 46% but a month-on-month decline of 13% [1][2]. Sales Performance - Cumulative sales of domestic heavy trucks from January to July totaled 624,000 units, showing an 11% year-on-year growth [1][2]. - The sales structure indicates that in July, the proportions of semi-trailer trucks, cargo trucks, and incomplete vehicles in the overall heavy truck sales were 50.1%, 28.0%, and 21.9% respectively, compared to 51.9%, 25.3%, and 22.7% in 2024 [2]. - In July, semi-trailer truck sales were 43,000 units (up 29% year-on-year, down 12% month-on-month), while heavy cargo truck sales were 25,000 units (up 83% year-on-year, down 11% month-on-month) [2]. - Heavy incomplete vehicle sales in July reached 17,000 units, marking a 50% year-on-year increase but a month-on-month decline of 18% [2]. Natural Gas Heavy Trucks - In July, domestic natural gas heavy truck sales were 12,000 units, down 7% year-on-year and 3% month-on-month [3]. - Cumulative sales of natural gas heavy trucks from January to July were 100,000 units, reflecting a 14% year-on-year decline [3]. - The penetration rates for natural gas in heavy trucks and semi-trailer trucks were 14% and 27% respectively in July [3]. New Energy Heavy Trucks - In July, domestic new energy heavy truck sales reached 13,000 units, showing a significant year-on-year increase of 159% but a month-on-month decline of 10% [3]. - Cumulative sales of new energy heavy trucks from January to July were 88,000 units, representing a 172% year-on-year growth [3]. - The penetration rate for new energy heavy trucks was 16% in July, with a cumulative rate of 14% for the first seven months [3]. Investment Strategy and Recommendations - With economic recovery and the introduction of the "old-for-new" policy for heavy trucks in 2025, domestic heavy truck sales are expected to gradually rebound, with a forecast of 1.067 million units in 2025, an 18% year-on-year increase [4]. - The technology for domestic new energy heavy trucks has matured, and costs have decreased rapidly, indicating significant potential for penetration rate growth, expected to reach 15% by 2025 [4]. - The heavy truck industry still has growth potential, driven by domestic recovery and continuous export growth [4]. - Recommended stocks include Weichai Power (000338.SZ), China National Heavy Duty Truck Group (000951.SZ, 03808), CIMC Vehicles (301039.SZ), and Foton Motor (600166.SH), with FAW Jiefang (000800.SZ) identified as a beneficiary [4].

Core Insights - The new energy heavy truck market is experiencing explosive growth, with sales reaching 16,200 units in July, a year-on-year increase of 185%, and cumulative sales of 82,200 units from January to July, up 191% year-on-year [1][2] - The market's resilience is attributed to policy support, technological advancements, and economic operational benefits, making new energy commercial vehicles a significant part of the heavy truck sector [2][3] Market Penetration - The penetration rate of new energy heavy trucks is expected to nearly double, increasing from 5.69% in June 2023 to 14.82% in 2024, and reaching 26.07% by June 2025 [2] - This growth is supported by various strategic partnerships and collaborations among major players in the industry, including FAW Jiefang and China National Heavy Duty Truck Group [2][3] Policy Support - The rapid growth of new energy heavy trucks is driven by a combination of policies aimed at promoting green transportation, including subsidies for replacing old vehicles and support for the adoption of new energy trucks [3][4] - The Chinese government has set ambitious targets for the adoption of electric vehicles, aiming for them to become the mainstream in new vehicle sales by 2035 [3] Technological Advancements - Continuous improvements in battery energy density, charging infrastructure, and thermal management technologies are enhancing the appeal of new energy heavy trucks [4][5] - The lifecycle cost of new energy heavy trucks has become lower than that of traditional fuel vehicles, with potential savings of approximately 200,000 yuan per year for operators [3][4] Competitive Landscape - The market is characterized by intense competition among traditional manufacturers like FAW Jiefang and China National Heavy Duty Truck, as well as new entrants like Zero One Automotive and DeepWay [5][6] - A significant number of new energy heavy truck models are being developed, with 184 new products submitted for approval in July, indicating a robust pipeline of innovation [6] Future Outlook - Industry experts predict that the penetration rate of new energy heavy trucks could reach 50% to 60% in the coming years, driven by ongoing technological advancements and infrastructure improvements [6][7] - The focus on L4 autonomous driving technology is expected to become a key competitive factor, shifting the industry from hardware sales to service-oriented models [6][7]

Core Insights - The new energy heavy truck market is experiencing explosive growth, with sales reaching 16,200 units in July, a year-on-year increase of 185%, and cumulative sales of 82,200 units from January to July, up 191% year-on-year [1][2] Market Growth - The penetration rate of new energy heavy trucks is expected to nearly double, increasing from 5.69% in June 2023 to 14.82% in 2024, and reaching 26.07% by June 2025 [2][3] - The rapid growth is attributed to a combination of policy support, technological advancements, and economic benefits [2][3] Policy Support - Various policies have been introduced to promote the adoption of new energy heavy trucks, including subsidies for replacing old vehicles and support for the development of a green fuel supply system [3][4] - The goal is for pure electric vehicles to become the mainstream in new vehicle sales by 2035 [3] Economic Advantages - The total lifecycle cost of new energy heavy trucks has become lower than that of traditional fuel vehicles, with potential annual savings of approximately 200,000 yuan for operators [3][4] Technological Advancements - Improvements in battery energy density, charging infrastructure, and thermal management technologies have enhanced the attractiveness of new energy heavy trucks [4][5] - Continuous iterations in core technologies are being pursued by manufacturers to strengthen product competitiveness [5][6] Competitive Landscape - The market is characterized by competition among traditional manufacturers like FAW Jiefang and China National Heavy Duty Truck Group, as well as new entrants like Zero One Auto and DeepWay [5][6] - A significant number of new energy heavy truck models are being developed, with 184 new products reported in July [6] Future Outlook - Industry experts predict that the penetration rate of new energy heavy trucks could reach 50% to 60% in the coming years, driven by ongoing technological advancements and infrastructure improvements [6][7] - The focus may shift towards L4-level autonomous driving as a key competitive factor in the market [6][7] Challenges - Despite the growth, challenges remain, including range anxiety and low refueling efficiency for long-haul operations [7][8] - The industry needs to transition from "oil-to-electric" designs to more innovative electric-centric approaches [7][8]

Core Viewpoint - The domestic new energy heavy truck market in China has shown remarkable growth in the first half of 2025, with a year-on-year average growth rate of 196% and an average monthly sales volume of 13,200 units [1]. Group 1: Market Performance - In July 2025, nearly 17,000 new energy heavy trucks were sold, marking a year-on-year increase of 152% and a market penetration rate of 25.89% [4][6]. - The overall heavy truck market sold 64,300 units in July, with new energy heavy trucks continuing to outperform the overall market with a 152% year-on-year growth [6]. - The new energy heavy truck market has achieved 30 consecutive months of year-on-year growth, indicating a strong and sustained upward trend [6]. Group 2: Sales and Market Share - By July 2025, the penetration rate of new energy heavy trucks reached 22.88% for the first seven months, significantly higher than the previous year's 9.88% [8]. - In the first seven months of 2025, a total of 96,000 new energy heavy trucks were sold, representing a year-on-year increase of 179% [21]. - Major players like XCMG, SANY, and FAW Jiefang have seen substantial sales, with XCMG and SANY each selling over 15,000 units, maintaining a market share of 16.39% and 15.68% respectively [25][23]. Group 3: Competitive Landscape - In July 2025, XCMG led the market with 2,846 units sold, followed by FAW Jiefang and SANY with 2,589 and 2,156 units respectively [13]. - The competition in the new energy heavy truck market is intensifying, with 13 companies selling over 100 units in July, and several achieving sales exceeding 1,000 units [11][16]. - The market is characterized by rapid growth, with companies like Foton and United Heavy Trucks experiencing year-on-year increases of 499% and 1,392% respectively [11]. Group 4: Regional Distribution - By July 2025, new energy heavy trucks were registered in 317 cities across China, with significant sales in cities like Shanghai, Shenzhen, and Chengdu [8]. - The growth in new energy heavy truck registrations indicates a broadening acceptance and integration of these vehicles across various regions [8]. Group 5: Future Outlook - The new energy heavy truck market is expected to continue its upward trajectory, with many companies already surpassing their total sales from the previous year [28][29]. - The ongoing demand and market expansion suggest a robust future for the new energy heavy truck sector in China [28].

Group 1 - The core viewpoint highlights the rapid development of Tianjin Port as a northern international shipping hub, exemplified by the successful launch of a new roll-on/roll-off shipping route to Peru, facilitating the export of Chinese-made electric vehicles [1][2] - By 2025, Tianjin International Shipping Center is projected to rank 18th globally in comprehensive strength, driven by the expansion of shipping routes and the implementation of various projects [2] - The port has established a comprehensive service ecosystem for new energy vehicles, including multiple battery swap stations and charging facilities, enhancing its operational efficiency and attracting leading enterprises [4] Group 2 - Tianjin Port's cold chain logistics system is crucial for maintaining the freshness of imported goods, with a rapid turnaround time for products like Chilean cherries and Argentine frozen meat, ensuring they reach the market swiftly [6] - The port's growth narrative is illustrated through various initiatives, including the opening of new shipping routes, the development of a new energy service ecosystem, and the establishment of a cold chain logistics network, all contributing to its status as a key player in the global economy [7] - The port's operations reflect a commitment to openness and development, with each shipping activity symbolizing the dynamic growth of the port and its integration into the global economic landscape [7]