【文/观察者网 阮佳琪】 距离7月9日所谓"对等关税"谈判截止日不足一周，当地时间7月2日，美国总统特朗普宣布，已与越南达成贸易协议。他在社 媒发文称，越南所有对美出口商品将面临至少20%关税，同时对美国"完全开放市场"。 新税率远低于特朗普4月最初宣布的关税税率46%。港媒《南华早报》3日报道称，这份贸易协议结束了三个月来的不确定 性，也让一些在越中资企业松了口气。 越南分析师与商界人士对《南华早报》表示，在美越协议达成后，大多数中国出口商可能会继续在越南运营。因为在企业看 来，最终关税税率水平在可控范围内。 在越南北部经营纸板箱印刷厂的中国商家彭先生（音译）告诉港媒，关税谈判结果比他的预期要好，自己的企业应该可以继 续在越南运作下去。 彭先生说，2018年特朗普在首届总统任期对中国征收关税后，他的许多客户开始向东南亚转移，于是他也从中国广东迁至越 南第三大城市海防市。 在投资2000万元人民币建立新工厂后，去年彭先生的公司终于开始盈利。过去的三个月里，由于担心46%的关税生效，美国 客户纷纷提前下单，订单量激增。 "由于特朗普的政策，我已经投入了大量资金搬迁到越南，就算他把关税提到46%，我也不会再搬了， ...

Summary of TaoTao Vehicle's Conference Call Company Overview - **Company**: TaoTao Vehicle - **Industry**: Electric vehicles, specifically golf carts, all-terrain vehicles (ATVs), and robotics Key Points and Arguments Financial Performance - **Q2 Performance**: TaoTao Vehicle's Q2 performance exceeded expectations, primarily driven by golf cart sales, with all-terrain vehicles and off-road vehicles also performing well. Electric bicycles are expected to grow due to tariff impacts, with clients like Walmart potentially shifting orders to Chinese manufacturers [2][5][6] - **Sales Growth**: Sales revenue increased by approximately 20% in the first half of 2025, with net profit growth expected to outpace revenue growth due to high margins on golf carts [3][10] - **Golf Cart Sales**: Approximately 10,000 golf carts were sold in Q2, with an average price of around 43,000 to 44,000 yuan [12][23] Market Dynamics - **Tariff Impact**: The introduction of anti-dumping tariffs has led to a drastic decline in exports of golf carts from China to the U.S., with a drop of 80-90%. This has created opportunities for companies with overseas production capabilities [13][14] - **U.S. Market Strategy**: The company has established a localized operation in the U.S. and has a significant team, enhancing brand and channel advantages. Inventory levels are healthy, with no immediate impact from tariffs expected [7][8][36] Product Performance - **Product Categories**: Besides golf carts, all-terrain vehicles and off-road vehicles showed good performance, while electric bicycles are anticipated to grow due to shifting orders from major clients [5][6][9] - **Regional Performance**: In non-U.S. markets, all-terrain vehicles have seen over 20% annual growth, while electric scooters in Europe have faced declines [9][28] Robotics Business - **Development Plans**: The company is accelerating its robotics business, establishing a smart technology company in Shanghai to develop humanoid robots and autonomous vehicles. Collaborations with TSKL focus on efficient research and data collection, with expectations for revenue generation by 2026 [11][20][22] Competitive Landscape - **Market Positioning**: TaoTao Vehicle differentiates itself through its established brand, localized operations, and extensive sales channels in North America. The company aims to capture a significant market share in the golf cart segment, targeting sales of over 100,000 units in the coming years [15][18][30] - **Challenges in Europe**: The company faces challenges in the European market due to high anti-dumping taxes and competition from low-priced Chinese manufacturers [32][28] Future Outlook - **Growth Projections**: The company anticipates continued growth, with a long-term goal of achieving a market share of 20-30% in the golf cart segment. The natural growth rate of the golf cart market is estimated at 8-10% annually [16][18] - **Investment in Robotics**: Future investments in robotics are expected to increase operational costs, but the company is prepared to manage these expenses based on market conditions [22][19] Supply Chain and Production - **Production Strategy**: The company has divided its production capabilities, with Vietnam and Thailand serving the U.S. market and China focusing on non-U.S. markets. This strategy is aimed at mitigating tariff impacts [24][25] Conclusion - **Core Competitiveness**: TaoTao Vehicle's core competitiveness lies in its established brand, localized operations, and global supply chain, positioning it as a significant player in the electric vehicle market [38][39]

Summary of TaoTao Vehicle's Conference Call Company Overview - **Company**: TaoTao Vehicle - **Industry**: Electric and Specialty Vehicles Key Points Financial Performance - **Significant Profit Growth**: In the first half of 2025, net profit growth significantly outpaced revenue growth, primarily due to a substantial increase in high-margin golf cart sales and effective cost control [2][4] - **Revenue Drivers**: The growth in net profit was attributed to continuous sales growth, particularly in golf carts, which have a higher unit price and margin [4] Product Performance - **Golf Carts**: Golf carts were the standout product in the first half of 2025, with a notable increase in sales volume and pricing adjustments of approximately $400-$500 per unit [2][6] - **Other Products**: All-terrain vehicles (ATVs) and off-road vehicles showed stable sales, while electric products like balance scooters and skateboards faced production capacity constraints and slight declines in sales [2][6] - **Production Capacity**: The company is enhancing production capacity in its Vietnam factory to meet U.S. market demand [2][6] Market Dynamics - **Export Challenges**: Chinese golf cart exports to the U.S. have significantly declined due to anti-dumping and countervailing duties, with market share being captured by manufacturers from Fujian and Zhejiang [2][8] - **Competitive Landscape**: Major competitors in the U.S. market include Easy Go, Club Car, and Yamaha, with TaoTao focusing on both on-course and off-course markets [3][9] Strategic Initiatives - **Market Share Goals**: The company aims to capture 20%-30% of the U.S. market share, which has an estimated 600,000 units in circulation, with plans to increase production capacity to approximately 100,000 units per factory [3][9] - **Product Development**: Future investments will focus on brand building and product R&D, including smart golf carts, humanoid robots, and autonomous vehicles [2][7][10] Future Outlook - **Growth Projections**: The company expects significant growth in the all-terrain vehicle segment with the introduction of new models (350cc and 550cc) in 2026 [5][15] - **Production Strategy**: The Vietnam and Thailand factories will primarily serve the U.S. market, while the Chinese factory will cater to other regions [16] Financial Policies - **Dividend Policy**: The company maintains a high dividend payout policy, with potential adjustments based on significant capital expenditures [17] - **Performance Expectations**: The company anticipates that the second half of 2025 will perform at least as well as the first half, driven by seasonal demand during holidays [18] Research and Development - **Technological Advancements**: The company is exploring advancements in humanoid robots and autonomous vehicles, with ongoing collaborations for technology upgrades [10][11][13] Additional Insights - **Market Positioning**: The company is strategically positioned to leverage its inventory and market share gained in 2024 to improve its competitive stance in the U.S. market [8][9] This summary encapsulates the key insights from the conference call, highlighting the company's financial performance, product dynamics, market strategies, and future outlook.

公司为全地形车、摩托车领域的龙头企业，公司专注于大排量水冷动力技术这一核心竞争力，自主研发 了国内第一款650cc 大排量街车、国内第一款800cc 大排量全地形越野车等产品，2005 年开始全球化布 局，目前公司布局全球产能，已有泰国、墨西哥工厂，公司摩托车、四轮车产品表现良好，尤其二轮车 外销持续贡献较高增速，此外公司以独立品牌极核切入高端电动自行车领域，实现快速增长。2024 年 公司营收体量达到150.38 亿元。 新兴市场国家主导了二轮车的消费需求。全球摩托车市场主要品牌为日系、印度等摩托车品牌，而东南 亚及印度地区是全球最大的摩托车消费市场之一, 印尼、越南、泰国是核心市场，保有量分别高达7000 万、4500万和2400 万辆左右。 投资建议：公司产品矩阵系列完善，国内国外/两轮四轮齐布局，综合预计公司2025-2027 归母净利润 18.06、22.10、26.58 亿元，对应当前18x/15x/12x PE，给予推荐评级。 风险提示：关税波动风险，汇率波动风险，大排量需求提升不及预期 摩托车业务的成长逻辑主要为外销和大排量增长。公司在国内玩乐类大排量摩托车细分市场建立了显著 的竞争优势，在2 ...

每经记者｜黄辛旭 董天意 每经编辑｜裴健如 惊魂一刻！高速行驶中的车辆竟遭远程"劫持"？一场新型科技犯罪引发了广泛关注。 近日，深圳市龙岗区人民法院审结一起利用远程控制技术实施的"劫车"案件。该案件发生于今年年初， 车主林某驾驶二手奔驰车的过程中，车辆突发异常，数次在高速和主干道上强制熄火。而这场危机的幕 后黑手竟是车辆的前车主赖某，其通过远程操控技术，不仅试图盗回已售车辆，更在车主驾车途中实施 恶意干扰。 行驶中可以遥控熄火？这让不少网友担心，如果自己买的是二手车，且前车主还有数字钥匙，能够远程 启动和熄火，自己和车辆的安危岂不是被他人掌控。还有网友强调："买二手车一定要把前车主的信息 全部注销。" 对此，梅赛德斯-奔驰方面回应称："梅赛德斯-奔驰品牌车辆的所有远程控制功能均须通过车辆信息与 车主个人信息匹配，并通过车主本人授权及严格后台认证后才可激活使用。车辆在静止状态下，原厂配 置的远程遥控功能仅可实现车门解锁、发动机预启动、空调预启动等远程操作。而预启动车辆只有在检 测到物理钥匙或经授权的数字钥匙后，才能实现上路行驶。车辆在行驶状态下，原厂配置的所有远程遥 控功能均不可使用。所以，行驶中的奔驰车辆无法 ...

东风E-TRUCK概念皮卡则基于东风滑板底盘平台打造，融合800V高压系统与线控底盘等先进技 术，定位于国内首个"多维生活平台"概念皮卡。该车采用"一体多维"设计理念，兼具货运、载人、越 野、露营、聚会等多场景使用功能，打破传统皮卡单一用途的设计思路，探索智能皮卡多元化发展方 向。 近年来，东风汽车在设计领域屡获国际权威奖项。此前，东风奕派eπ007原型车曾获得2024红点概 念设计奖，东风猛士917摘得2024年欧特克设计与制造大奖，5款"东风造"产品获得2024国际CMF设计 奖，其中东风eπ2024概念车更获得至尊金奖。今年，东风猛士两款概念车型还同时获得了2025年德国iF 设计奖。 为进一步提升全球设计研发能力，东风汽车正加快全球造型设计中心建设，投资5.2亿元的新设计 中心即将投入使用，总建筑面积约4.85万平方米，将覆盖乘用车、商用车等全品类车型的造型开发。目 前，东风汽车已在武汉、上海设有设计中心，并计划在德国、日本布局分中心，形成"三国四地"全球设 计协同格局，进一步夯实中国汽车设计的国际竞争力。 长江日报讯（记者汪甦 通讯员程伟）近日，2025年德国红点设计奖评选结果揭晓，东风汽车旗下 两 ...

在西山沟村，越野赛道从田野间穿过。(超选集团供图) 黄土飞扬间，一辆辆越野车用引擎发出嘶吼，一气跃上了数米高的坡道，在赛道上飞驰；入夜后，车手 们到附近的驿站驻车休息，放松精神，为第二天的比赛做好准备……这是近日发生在北京市延庆区西山 沟村的一幕，也是北京市工商联"万企兴万村"京郊行活动为乡村带来的变化之一。 6月6日，"万企兴万村"京郊行延庆专场在北京中关村延庆园举行，吸引了百余位企业、商协会与政府部 门代表参与。如何将乡村的"沉睡资产"转变为产业发展的"活力之源"？多位企业家给出了答案。 "西山沟村有一条天然形成的越野车赛道，但开发不充分，配套也不成熟。我们要把赛道的'稀缺性'挖 掘出来，然后放大。"北京市光彩会理事、超选集团董事长江龙亮表示，过去一年来，公司不仅帮助西 山沟村修整赛道、完善配套，还通过与永宁镇共建创服中心、确立村集体保底收益、带动工商联企业联 动共建等方式，形成了利益联结机制，确保项目稳步推进。 除了天然的越野赛道，京郊乡村还有"隐藏财富"。利用延庆区地势高的良好条件，猎户座(北京)文化旅 游发展有限公司将露营、徒步与观星相结合，以位于延庆区井庄镇的山野户外运动基地为中心，串联起 周边箭 ...

Group 1 - The "Huan Ta Happy Week" event organized by Great Wall Motors in Kashgar, Xinjiang, marks a continuation of activities following the 2025 Huan Ta Rally, showcasing the company's strong performance in the rally with multiple awards in different categories [1] - Great Wall Motors' Vice General Manager Wang Chao announced China's first "Off-Road Skills Grading Standard," which, along with previously released standards, forms a comprehensive grading system assessing off-roaders' capabilities and safety across four dimensions: experience, equipment, theory, and driving [3] - The off-road skills will be categorized into four levels, from beginner to professional, with each level unlocking new skills and capabilities, and the system will also include training opportunities through an upcoming off-road route book app [3] Group 2 - Chairman Wei Jianjun emphasized the importance of safety in off-road activities and the company's goal to guide enthusiasts in enjoying off-roading safely through the newly released grading system [3] - Great Wall Motors plans to introduce more models like the V6 Cannon, which require only minor modifications to participate in competitions, aiming to lower the barriers for more people to engage in off-road activities and professional events [4]

北交所信息更新 天铭科技（836270.BJ） 2025 年 05 月 20 日 投资评级：买入（维持） | 日期 | 2025/5/20 | | --- | --- | | 当前股价(元) | 18.36 | | 一年最高最低(元) | 24.78/6.35 | | 总市值(亿元) | 19.21 | | 流通市值(亿元) | 14.89 | | 总股本(亿股) | 1.05 | | 流通股本(亿股) | 0.81 | | 近 3 个月换手率(%) | 258.55 | 诸海滨（分析师） zhuhaibin@kysec.cn 证书编号：S0790522080007 ⚫ 2024 全年营收+12.08%归母净利润+7.39%，维持"买入"评级 2024 年天铭科技实现营业收入 25,325.49 万元+12.08%；归母净利润 6,219.50 万 元+7.39%。2025Q1 天铭科技实现营收 4195.56 万元，归母净利润 936.47 万元。 考虑到天铭科技募投项目小幅延期至 2025.12.31 达到可使用状态，我们小幅下调 2025、2026 并新增 2027 盈利预测，预计 2025-2027 ...

浙江华洋赛车股份有限公司 投资者关系活动记录表 证券代码：834058 证券简称：华洋赛车 公告编号：2025-034 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 参会单位及人员：通过网络方式参加公司 2024 年年度报告业绩说明会的投 资者。 上市公司接待人员：董事长：戴继刚先生；总经理：戴鹏先生；董事会秘书： 任宇先生；财务负责人、董事：张堂忠先生；保荐代表人：朱喆先生。 三、 投资者关系活动主要内容 问题 1：公司存货期末余额 17,221.31 万元，比去年同期的 6,180.65 万元 增长 178.63%，请问大幅增加的原因？ 答：本期存货规模变化主要基于以下因素：其一，本期合并报表增加了"重 庆峻驰摩托车有限公司"和"华锐动能科技（丽水）有限公司"，两家子公司期 末存货金额 2,623 万元。其二，受国际市场环境变化影响，2024 年 4 季度，部 分海外客户 ...