2025 年 7 月 10 日 | 沈嘉婕 | | | --- | --- | | H70455@capital.com.tw | | | 目标价(港币) | 22 | 公司基本资讯 | 产业别 | | 汽车 | | --- | --- | --- | | H 股价(2025/07/9) | | 17.00 | | 恒生指数(2025/07/9) | | 23,892.3 | | 股价 12 个月高/低 | | 19.97/7.33 | | 总发行股数(百万) | | 10,084.17 | | H 股数(百万) | | 10,084.17 | | H 市值(亿元) | | 1,352.41 | | | | Proper Glory | | 主要股东 | | Holding | | | | Inc.(25.24%) | | 每股净值(元) | | 8.71 | | 股价/账面净值 | | 1.95 | | 一个月 | 三个月 一年 | | | 股价涨跌(%) -1.11% | 29.11% 97.11% | | 近期评等 | 出刊日期 | 前日收盘 | 评等 | | --- | --- | --- | | 2 ...

北汽福田在产品布局上堪称全方位、多层次。今年以来，其新能源新品导入速度及迭代频率不断加快，成为行业新能源化的先行军。尤其是在新能源重卡领 域，欧曼银河9底部换电、星翼侧挂纯电/背挂换电等产品组合的推出，有力地拉动了欧曼新能源销量的快速增长。上半年，新能源重卡以300.6%的增速领跑 行业，重卡出口同比增长135.7%。欧曼银河系列更是以"让中国重卡重新定义世界标准"为目标，通过打造差异化产品矩阵，实现了公路、工程场景全覆盖， 国内外市场全覆盖，以及油、电、氢、气、混全能源覆盖。该系列产品可适应未来5—10年国内外法规标准要求，满足未来全球高效物流升级需求，为行业 发展树立了新的标杆。 【环球网科技综合报道】2025年，商用车行业正深陷一场波澜壮阔的绿色变革浪潮之中。随着绿色物流与高效运输需求的与日俱增，以及全国多地积极推进 氢能高速路网的铺设，新能源商用车的发展迎来了前所未有的机遇与挑战。在这场激烈的变革中，北汽福田凭借技术研发的深厚底蕴、产品落地的迅猛速度 以及市场反应的高度灵敏度，在新能源赛道上展现出体系化的强大进攻态势，成为行业瞩目的焦点。 上半年，北汽福田交出了一份令人瞩目的成绩单。其整体销量超过32 ...

转自：北京日报客户端 6月12日，以"新汽车·新征程"为主题的2025国际汽车及供应链博览会（香港）（简称"香港车博会"）在 亚洲国际展览馆开幕。本届香港车博会由中国汽车工业协会、香港中国企业协会、中国港澳台侨和平发 展总会、香港中华厂商联合会和凤凰卫视联合举办。此次香港车博会，是中国内地汽车企业境外车展参 与度最高的一次展会，相比往届不仅规模更大，内容也更加丰富，吸引力更强。作为中国汽车行业骨干 力量、首都新质生产力和智能制造的代表，北汽集团携北汽国际和北汽福田亮相，带来4个自主乘商品 牌的多款产品和创新科技，高水平展示中国智能网联新能源汽车的发展成果。 近年来，北汽集团加速国际化发展步伐，打出一套包括海外业务体系搭建、全球研发中心布局、收购国 际零部件企业、融入戴姆勒全球供应链、北京现代整车出口、北汽南非工厂等在内的国际化发展"组合 拳"，积极融入高水平对外开放格局。 目前，北汽集团在全球6地设有研发和设计中心，拥有海外工厂41座，产品已覆盖全球130余个国家和地 区，海外销量累计超120万辆。其中，作为北汽集团自主乘用车品牌国际化发展的主平台，北汽国际可 售产品资源达到30多个系列车型型谱；北汽福田连续 ...

"好饭不怕晚"。5月下旬，工信部发布了第395批新车公示。这批公示为行业带来了哪些牵引 车重磅车型？各家企业有何新动作？牵引车市场正呈现出哪些新风向呢？ 下面请看第一商用车网报道。 首先来看第395批公示牵引车整体申报情况。此次，第395批新车公示牵引车方面申报了39款 新品，相比上一批公示减少了11款，相比第393批和第392批各自多十余款，比1月发布的第 391批仅减少1款。整体来看，牵引车申报数量比较可观，这在一定程度上体现出了企业对牵 引车市场发展潜力的看好。 从细分车型来看，新能源和国六牵引车新车数量严重分化。新能源牵引车申报31款，包括换电 14款、充电12款、插电混动3款和燃料电池2款；国六牵引车8款，包括燃气车5款和柴油3 款。本批公示中，换电牵引车超过充电牵引车数量，成为本批公示中牵引车领域单一车型申报 最多的车型。而此前从去年11月起，已有连续6批公示，充电牵引车新车数量超过换电牵引 车。本批公示换电牵引车申报数量创下近7个批次最高。 同时也可看到，插电混动牵引车市场正在崛起。今年从第392批起，已连续四个月有插电混动 牵引车新车申报公示，一汽解放、中国重汽、远程新能源商用车都在力推，本批 ...

2025年5月25日，以"银河闪耀、冀动未来"为主题的欧曼银河百城千店河北区域上市发布会在石家庄举行。作为布局华北市场的战略支点，欧曼银河重卡不 仅深度契合河北物流行业对高效、智能、可靠运输装备的迫切需求，更以多项产品优势重新定义了区域重卡价值标准，为华北地区智慧物流枢纽建设、大宗 货物运输、城乡敏捷配送等多元场景提供了全维度解决方案。活动现场再掀签约热潮，累计斩获177台订单，彰显了欧曼银河在河北市场的强大号召力。 欧曼银河9：智慧重卡，开启智能物流新时代 河北省作为全国智能物流发展的前沿地区，对车辆的网联化、智能化、安全性提出了前所未有的高标准要求。基于创新智慧架构，欧曼银河 9重卡的智能功 能涵盖行车驾驶、娱乐休息、车辆管理三大场景，让驾驶员能轻松掌控车辆，每一趟运输都充满科技感，也为中国智能重卡树立了新标杆。 在行车驾驶场景中，欧曼银河9构建全场景智能守护体系：高速公路可实现预见性巡航，通过高精度地图预调车速挡位，降低燃油消耗；自适应巡航可在拥 堵路段自行跟车启停，结合车道居中保持与车道内微避障，减少车道偏离风险。安全层面，盲区监测预警与高清全景环视消除视野死角，前向碰撞预警+紧 急碰撞可预判风险并触 ...

Core Viewpoint - The company reported a significant decline in revenue and net profit for 2024, with a focus on improving profitability and advancing its new energy strategy while maintaining its leading position in the commercial vehicle market [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 47.7 billion yuan, a year-on-year decrease of 15.0%, and a net profit attributable to shareholders of 0.08 billion yuan, down 91.1% year-on-year [1]. - For Q4 2024, revenue was 11.94 billion yuan, a decrease of 9.3% year-on-year but an increase of 1.2% quarter-on-quarter; the net profit attributable to shareholders was -0.35 billion yuan, a decline of 391.2% year-on-year and 2052.2% quarter-on-quarter [1][2]. - The gross margin for 2024 was 12.6%, up 1.3 percentage points year-on-year, while the net profit margin was 0.2%, down 1.5 percentage points year-on-year [2]. Market Position and Strategy - The company maintained its leading position in the commercial vehicle sector, achieving total sales of 614,000 units in 2024, a decrease of 2.7% year-on-year, with a market share of 15.9%, up 0.2 percentage points [3]. - New energy vehicle sales reached 54,000 units, a growth of 35% year-on-year, with a market share increase of 0.4 percentage points [3]. - The company is advancing its new energy strategy, focusing on the development of core technologies and products, including the launch of various new energy models across different market segments [3]. International Expansion - In 2024, the company exported 153,000 vehicles, a year-on-year increase of 17.3%, maintaining a market share of 17% in the commercial vehicle export sector [4]. - The company has made significant progress in international markets, particularly in the Americas and Southeast Asia, and has achieved breakthroughs in high-end markets such as Europe and Japan [4]. - The company is implementing a dual-brand strategy for overseas markets, optimizing its management structure to support its heavy-duty truck business [4].

Investment Rating - The investment rating for Foton Motor (600166.SH) is not explicitly stated in the provided documents, but the report indicates a focus on the company's strong market position and strategic initiatives [2][3]. Core Viewpoints - Foton Motor remains the leader in the commercial vehicle industry, with significant advancements in its "new energy" and "internationalization" strategies [2][3]. - In 2024, the company achieved revenue of 47.7 billion yuan, a year-on-year decrease of 15.0%, and a net profit attributable to shareholders of 0.08 billion yuan, down 91.1% year-on-year [2][3]. - The company’s gross margin improved to 12.6% in 2024, up 1.3 percentage points year-on-year, while the net profit margin was 0.2%, down 1.5 percentage points year-on-year [3]. - Foton's total sales volume for 2024 was 614,000 units, a decrease of 2.7% year-on-year, with a market share of 15.9%, an increase of 0.2 percentage points [3]. - The new energy vehicle segment saw sales of 54,000 units, a growth of 35% year-on-year, contributing to an increase in market share [3]. - The company exported 153,000 vehicles in 2024, a year-on-year increase of 17.3%, maintaining its position as the top exporter of commercial vehicles in China [3]. Summary by Sections Financial Performance - In Q4 2024, Foton reported revenue of 11.94 billion yuan, a decrease of 9.3% year-on-year, but a slight increase of 1.2% quarter-on-quarter [2][3]. - The gross margin for Q4 2024 was 12.8%, up 3.5 percentage points year-on-year, while the net profit margin was -2.9%, reflecting a significant decline [3]. Strategic Initiatives - The company is actively implementing its new energy strategy, focusing on the development of core technologies and expanding its product matrix to enhance competitiveness [3]. - Foton is also advancing its internationalization strategy, achieving notable growth in overseas markets, particularly in the Americas and Southeast Asia [3].

2025年4月23日，欧曼银河百城千店黑龙江区域上市活动在哈尔滨隆重举行。本次活动以"银河闪耀，冰锋称雄"为主题，旨在通过展示欧曼银河9、欧曼银河 7、欧曼银河5系列产品的卓越性能，与黑龙江物流行业共谋发展。活动现场气氛热烈，一举斩获68台订单，彰显了欧曼银河在黑龙江市场的认可度。近百位 领导、嘉宾、客户齐聚一堂，共同见证本次欧曼银河系列重卡在黑龙江区域的荣耀启航。 黑龙江地区的运输场景丰富多样，既有省内城市间的短途配送，也有往返于京津冀、长三角等地区的干线长途运输。在本次活动中，欧曼银河系列重卡针对 不同运输场景展现出独特优势，赢得了与会嘉宾的高度赞誉。 欧曼银河9遵循"全面规划 + 行业引领"原则，从材料体系、工艺体系、软件架构等方面进行正向开发，采用45项新材料、56项新工艺，构建了更智慧的底层 架构，以应对行业发展带来的各种挑战和机遇，尽显长途干线智慧重卡的实力。而"效能旗舰"欧曼银河7同样是高效节能的佼佼者，尤其是燃气车型凭借一 系列先进的节气科技，气耗再降8%。智能寻优EBP多种模式按需选择，实现全地形场景覆盖。这些优势在长期的干线运输过程中，能够为用户节省大量的 燃料成本，全面提高了整车在干线物 ...