FOTON(SH:600166)2024-09-10 07:44Group 1: Market Outlook and Trends - The market for new energy heavy trucks has been expanding since its introduction in 2021, with increasing sales and penetration rates [1] - The "dual carbon" policy has led to a consensus on energy conservation and emission reduction, driving the trend towards electrification in heavy trucks [1] - In 2024, the government will continue to promote industry development through pilot programs, including carbon peak trials and electric vehicle demonstration cities [1] Group 2: Technological Developments - In May 2024, a guideline was released by 17 departments, outlining five major application scenarios for integrated vehicle-road-cloud technology [2] - The company plans to equip its new heavy truck platform, launching in 2025, with T-BOX technology to support vehicle-road-cloud integration [1] - The company is focusing on commercializing vehicle-road-cloud technology and collaborating with local authorities for data integration [2] Group 3: Financial Performance and Shareholder Returns - The company currently does not meet the conditions for dividend distribution due to negative retained earnings [2] - From 2019 to 2024, the company completed three share buyback phases, totaling approximately 280 million shares, with about 65% for cancellation and 35% for employee stock plans [2] - The company emphasizes market value management and plans to enhance long-term incentive mechanisms, potentially including share buybacks and stock options [2]