Investment Rating - The report maintains a "Strong Buy" investment rating for Yutong Bus [3][5]. Core Views - Yutong Bus has shown significant growth in June sales, with a total of 5,919 vehicles sold, representing a 24.8% increase year-on-year. Cumulative sales for the first half of 2025 reached 21,321 vehicles, up 3.7% [1]. - The domestic market is benefiting from the "old-for-new" policy in the public transport sector, which has increased subsidies for replacing old electric buses to 80,000 yuan per vehicle, further driving demand [1]. - The company has made substantial inroads into overseas markets, with total sales exceeding 10,000 vehicles in Central Asia and nearly 6,000 units in Europe, supported by strong technological capabilities and after-sales service [2]. - Yutong Bus is optimizing its product layout in line with industry trends, focusing on electrification, intelligent connectivity, and high-end products, which positions the company well for future growth [2]. Financial Summary - The projected net profits for Yutong Bus from 2025 to 2027 are estimated at 4.691 billion yuan, 5.274 billion yuan, and 6.069 billion yuan respectively, indicating a robust growth trajectory [3][4]. - The total revenue for 2025 is expected to reach 42.614 billion yuan, with a year-on-year growth of 15% [4]. - The company's return on equity (ROE) is projected to be 32.0% in 2025, reflecting strong profitability [14].

点 击 蓝 字 关 注 我 们 本文全文共 4726 字，阅读全文约需 15 分钟 目录 国内新闻 1.广州发布智能网联新能源汽车三年计划 2.河南率先明确车贷利率上限 年化不得超过6% 3.吉利汽车获得ISO与PAS8800安全认证 4.业务独立 中国长安汽车集团更名为辰致汽车 5.阿里云推PAI-TurboX优化自动驾驶训练 6.特斯拉已开始从中国向印度运输首批车辆 7.哈啰宣布进军Robotaxi赛道 8.赣锋锂业在芜湖投资成立新能源科技公司 国外新闻 1.5月欧洲汽车销量同比微增1.3% 2.特斯拉在美国得州推出自动驾驶出租车 3.电气化车型5月在欧洲的销量继续攀升 4. 丰田汽车7月将在美国涨价 商用车 1. 重汽HOWO轻卡CNG产品首发盛典圆满举行 2. 福田卡文新能源获12亿增资 3. 苇渡科技Windrose获多家银行授信 国内新闻 1 广州发布智能网联新能源汽车三年计划 时间:2025.6.24 来源:第一电动网 近日，广州市人民政府办公厅印发《广州市推动智能网联新能源汽车产业发展三年行动计划》，旨在推 动汽车产业转型升级，目标到2027年培育2—3家新能源汽车年产量超50万辆的汽车企业， ...

Group 1 - The UITP Summit 2025 in Hamburg showcased the achievements of China's new energy bus industry, with Suzhou King Long's FENCER f1 Integral EV making a significant impression [1] - The UITP Summit set a new record with over 50,000 square meters of exhibition space, attracting over 400 exhibitors from more than 110 countries and over 10,000 professional visitors [1] Group 2 - Suzhou King Long's participation marked its fourth appearance at the UITP, engaging with operators and media from various countries to discuss technological advancements [2] - Key discussions included future development directions and collaboration opportunities in the global public transport sector, emphasizing King Long's technological accumulation in the new energy field [2] - The company highlighted its achievements in hydrogen energy buses during a presentation at the summit, indicating a focus on future developments in this area [2] Group 3 - The FENCER f1 Integral EV, a star model of King Long, was first unveiled at the 2023 Busworld in Belgium and features a design inspired by fencing, combining elegance and tactical flexibility [3] - The vehicle is equipped with a 440 kWh battery, advanced ADAS systems, and is designed to operate efficiently in extreme weather conditions, enhancing passenger and driver experience [3] - The FENCER f1's design includes a spacious interior and low noise levels, contributing to a comfortable riding environment while reducing maintenance costs and improving operational efficiency [3] Group 4 - The FENCER f1 has gained traction in the European market, with multiple orders delivered in cities across Germany, Sweden, the UK, and Poland, as well as a significant order of 450 units in Chile [4] - The launch of the FENCER f1 Integral EV represents a major breakthrough for King Long in the new energy sector and is a key initiative towards achieving zero emissions in public transport [4] - King Long aims to deepen its presence in the European market, leveraging innovative technology and high-quality products to contribute to the green development of the global public transport industry [4]

Group 1 - The procurement results for electric buses in Shanxi Wutai Mountain indicate that Shanxi Ruihong Trading Co., Ltd. won the bid for 20 electric buses with a bid price of 14.6 million yuan [1][2][4] - The second and third bidders were Shanxi Shengshi Yitong Engineering Machinery Co., Ltd. with a bid of 14.9 million yuan and Shanxi Hangzhi Shuo Trading Co., Ltd. with a bid of 14.4 million yuan, respectively [2][4] - The delivery period for the buses is set to be completed within 40 working days after the contract is signed [2][4] Group 2 - The procurement project by Xiyu Tourism Development Co., Ltd. resulted in Zhongtong Bus Holding Co., Ltd. winning the bid for 20 electric passenger buses at a price of 15.936 million yuan [7] - The supply deadline for these buses is within 30 calendar days after the contract is signed [7] Group 3 - The public transport procurement project in Pujiang County awarded the contract to Pujiang Kaihe Automobile Sales Service Co., Ltd. for 25 electric buses at a total contract amount of 16.875 million yuan [10][11] - The unit price for each bus is 675,000 yuan, and the delivery must be completed within 50 days after receiving the bid notification [11][12]

坚持"说到做到才是可靠"的宇通新能源商用车极限挑战赛，在历经极热、极寒、极高、极陡等 极限环境挑战后，正式启动第三季。这次，宇通将目光锁定客户运营环境开启极限实况运营挑 战。作为挑战赛的首站，宇通轻卡开局就丢出"王炸"，成功挑战"纯电轻卡首次驶入珠峰大本 营"，再创新纪录。 5月30日，宇通轻卡T5山地版世界屋脊配送完美收官，成为行业首个驶入珠峰大本营（海拔 5200米）的纯电轻卡品牌，以极限实际运营刷新着行业纪录，用"不破不立"的心态展现了技 术实力在身的自信。 挑战世界屋脊配送，宇通轻卡上演极限穿越 从2022年开启极限挑战IP起，宇通以实际行动不断挑战和刷新着行业新的纪录。"走别人不敢 走的路，做别人不曾做过的试验"，一直以来宇通都与极限挑战高度关联。本次挑战赛，宇通 依托行业独有的产品三层验证体系，在做好试验场测试、极限环境挑战的基础上，直面真实极 限运营工况，首站选定318川藏线直抵珠峰大本营，这不仅是宇通的冒险与拼搏精神，还是宇 通轻卡作为一款全能轻卡征服所有路况为用户实际需求考虑的职责所在。 本次极限运营挑战，宇通新能源轻卡T5山地版从四川成都出发，卡友实载货物，路经康定、 理塘、邦达、墨脱、林 ...

Group 1: Economic Cooperation - Jiangsu's imports and exports to Latin America reached 115.89 billion yuan in the first four months of this year, showing a year-on-year growth of 3.9% [1] - Jiangsu and Latin American countries are collaborating in manufacturing and industrial chain cooperation, with projects like XCMG's production base in Brazil generating over 500 million USD annually and employing nearly 1,500 local workers [2] - The cooperation between Jiangsu and Latin America in agriculture and food processing is deepening, with annual trade exceeding 800 million USD for products like soybeans and beef [4] Group 2: Energy and Resource Development - Jiangsu enterprises are optimizing resource allocation through deep cooperation in energy and mineral resource development, such as the partnership between NARI Group and Brazil's power sector to enhance grid stability [3] - The mixed ore base established between Brazil's Vale and Lianyungang Port is effectively connecting Brazil's high-quality mineral resources with China's market demand [3] Group 3: Emerging Fields and New Opportunities - Jiangsu is expanding its economic cooperation with Latin America into emerging fields like renewable energy and digital infrastructure, exemplified by the delivery of 100 electric buses to Uruguay and the successful operation of three solar power plants in Brazil with a total capacity of 21 MW [4] - The collaboration in new sectors is complemented by ongoing traditional manufacturing and agricultural partnerships, showcasing a multi-faceted approach to economic engagement [4] Group 4: Cultural and Academic Exchange - Jiangsu has been actively participating in the China-Latin America Civilizational Dialogue Forum for seven consecutive years, aiming to enhance cultural exchanges and academic partnerships between the regions [5] - The upcoming 2025 China-Latin America Civilizational Dialogue will include initiatives like the establishment of a China-Latin America University Alliance to enrich the cooperation framework [5]

点击蓝字 关注我们 乘联分会&科瑞咨询联合发布 新能源商用车周报 (总第0092期 2025年2月第4周) ▌自录 CONTENTS 企业动态 长安猎手:七包一兔,至高补贴1万元!长安猎手掀新能源皮卡 普及行动 供应链 II Vi (行业数据 · 市场:新能源商用车销量一览 宝马：宝马发布第六代电池电驱技术 Stellantis: Stellantis推出L3级自动驾驶技术STLA AutoDrive 开 启驾驶舒适新时代 《2025年能源工作指导意见》 制定年度工作指导意见是《能源规划管理办法》明确规定的- 项任务,也是能源行业统一思想、形成合力,推动能源高质量 发展的重要举措。《指导意见》提出针对性政策举措，有助于 指导各地和各有关单位进一步加快规划建设新型能源体系，合 力完成"十四五" 收官，以能源高质量发展和高水平安全助力 我国经济持续回升向好,满足人民群众日益增长的美好生活用 能需求。 海南海口:公共领域全面电动化试点新能源汽车换电模式项目 甲报中 《通知》明确：试点期内，对巡游出租车、网络预约出租车、 营运性质轻型以及中重型货车等重点公共领域车辆换电示范运 营项目给予奖励。其中：对投放换电车辆不低 ...