时序更替，新元肇启。2025年，面对商用车行业深度调整与激烈竞争，一汽解放坚定以布 局应变局，以创新求突破，以转型谋发展，以卓越的市场表现实现"跑赢自己、跑赢行 业"的双重突破。 市场表现出彩：问鼎巅峰、实至名归 这一年，"解放"品牌价值突破1450亿，连续十四年行业第一。此外，服务满意度行业第 一，荣获2025年中国汽车维修行业协会表彰，实现了市场、品牌、服务三重领先。 产业布局出彩：生态完善、全域协同 这一年，一汽解放产业布局出彩，加速"南北呼应、全域覆盖"的战略布局，多个整车和总 成工厂项目、新型科技公司相继落地，智能制造水平行业领先，产业生态越发完善。 9月，一汽解放无锡研发基地建成使用，成为中国一汽和一汽解放在长三角的创新中心，强 化了一汽解放全球研发布局以及技术创新体系，全面提升一汽解放整车核心竞争力，推动更 多前沿项目落地。 12月，一汽解放佛山分公司新工厂正式投产，这座集智能化、绿色化、柔性化于一体的数 字化标杆工厂，填补了一汽解放在南方新能源商用车生产基地的空白，具备轻、中、重型传 统与新能源车型混动生产能力，将提升一汽解放对华南及周边市场的响应速度和服务能力。 科技创新出彩：产品焕新，技术 ...

Core Viewpoint - The third quarter performance of FAW Jiefang (000800.SZ) shows significant recovery, with substantial increases in revenue and net profit compared to previous periods [2][3]. Financial Performance - In Q3, FAW Jiefang achieved operating revenue of 15.917 billion yuan, a year-on-year increase of 77.91% and a quarter-on-quarter increase of 15.87% [2]. - The net profit attributable to shareholders reached 352 million yuan, marking a year-on-year increase of 525.14% and a quarter-on-quarter increase of 3850.76% [2]. - The gross profit margin for Q3 was 7.15%, up 2.09 percentage points from the previous quarter, while the net profit margin was 2.3%, up 2.26 percentage points [2]. Market Performance - In September, FAW Jiefang's traditional heavy-duty truck sales reached 13,700 units, capturing a market share of 25.7%, while new energy heavy-duty truck sales were 3,800 units with a market share of 17.6% [4]. - For the first three quarters of 2025, FAW Jiefang's total operating revenue was 43.996 billion yuan, with net profit of 372 million yuan, indicating that Q3 accounted for 36.18% of revenue and 94.6% of net profit for the year [3]. Strategic Developments - FAW Jiefang plans to accelerate breakthroughs in its new energy business, aiming for a significant increase in the market share of new energy products [6][8]. - The company has set ambitious goals for the next five years, including transitioning to green low-carbon energy, expanding internationally, and integrating traditional manufacturing with new energy and smart technologies [8]. Industry Context - The commercial vehicle market in China is experiencing a recovery, with significant growth in sales driven by government policies and infrastructure projects [7]. - The penetration rate of new energy vehicles in the commercial vehicle sector is expected to rise further as infrastructure improves and costs decrease [8].