截至2026年2月12日，北京汽车股价报1.79港元，近20日累计下跌5.79%，跑输恒生指数(同期跌 0.87%)。当日资金净流出297万港元，主力资金净流出195万港元，显示短期资金避险情绪升温。技术面 上，股价低于所有关键均线(如60日均线1.943港元)，KDJ指标处于超卖区间，反映弱势格局。 经济观察网北京汽车(01958.HK)近期股价表现疲软，主要受业绩下滑、行业竞争加剧及市场情绪等因素 影响。 行业与风险分析 业绩经营情况 尽管北京市于2026年2月启动最高2万元的汽车以旧换新补贴，但行业整体面临"政策驱动"向"产品驱 动"转型的挑战。市场更关注企业自身盈利能力的实质性改善，而北京汽车短期业绩未见明显拐点。 2026年2月10日，公司发布盈利预警公告，预计2025年度归母净利润为1.1亿至1.3亿元，同比大幅下降 86.4%–88.5%。业绩下滑主要因行业竞争加剧、销量未达预期，以及为推进"三年跃升行动"加大新车型 和渠道投入。此前2025年三季度财报显示，公司归母净利润同比下滑98.35%，反映盈利持续承压。 以上内容基于公开资料整理，不构成投资建议。 行业政策与环境 中国汽车行业价格战激烈 ...

Major Events - Xian Dao Intelligent (00470) received a subscription rate of 79.54 times for its public offering in Hong Kong, with a final issue price of HKD 45.8 per share [1] - Shishi Pharmaceutical Group (02005) is expected to win bids for 45 products in the national centralized procurement [1] - Gilead Sciences-B (01672) has selected the oral amylin receptor agonist peptide ASC36 for clinical development [1] - China Railway Construction (01186) recently won major projects totaling CNY 451.42 billion [1] - Shoucheng Holdings (00697) invested in Qimiao Labi through its subsidiary fund, focusing on expanding its product matrix around core intellectual property [1] - Minshi Group (00425) plans to establish a joint venture to produce aluminum body frame components [1] - Fubo Group (03738) has reached a strategic cooperation with Xinglu Technology [1] - Jin Xun Resources (03636) plans to increase capital by a total of USD 44 million for its overseas subsidiaries [1] - Changfei Optical Fiber and Cable (06869) experienced abnormal fluctuations in A-share trading, clarifying that it does not engage in CPO-related businesses [1] Operating Performance - SMIC (00981) reported Q4 revenue of USD 2.489 billion, a quarter-on-quarter increase of 4.5%, with a gross margin of 19.2% [1] - PCCW (00008) reported a loss attributable to shareholders of HKD 253 million for the fiscal year 2025, narrowing by 16% year-on-year [1] - WuXi Biologics (02269) issued a positive profit alert, expecting a year-on-year profit increase of approximately 46.3% to CNY 4.908 billion for the fiscal year 2025 [1] - Dongyue Group (00189) issued a positive profit alert, anticipating over 100% year-on-year growth in profit attributable to owners for 2025 [1] - Elephant Future Group (02309) issued a positive profit alert, expecting a mid-term profit attributable to owners of approximately HKD 178 million, reversing from a loss [1] - Sihuan Pharmaceutical (00460) issued a positive profit alert, expecting revenue of no less than CNY 2.5 billion for 2025, with a growth rate exceeding 30% compared to the previous year [1] - Beijing Automotive (01958) expects a net profit attributable to the parent company of approximately CNY 110 million to CNY 130 million for 2025, a year-on-year decrease of about 86.4% to 88.5% [1] - COFCO Joycome (01610) issued a profit warning, expecting a loss attributable to shareholders of approximately CNY 230 million to CNY 350 million, reversing from profit year-on-year [1] - New Town Development (01030) achieved a contract sales amount of approximately CNY 714 million in January, a year-on-year decrease of 29.79% [1] - Yue Yuen Industrial (00551) reported a net operating income of approximately USD 705 million in January, a year-on-year decrease of 12.5% [1] - Baoshan International (03813) reported a cumulative net operating income of CNY 1.748 billion in January, a year-on-year decline of 32.5% [1]

Core Viewpoint - The company anticipates a significant decline in net profit for the year ending December 31, 2025, projecting a net profit of approximately RMB 110 million to RMB 130 million, representing a decrease of about 86.4% to 88.5% compared to the same period in 2024 [1] Group 1: Financial Performance - The expected net profit for 2025 is between RMB 110 million and RMB 130 million [1] - This represents a substantial decrease of approximately 86.4% to 88.5% compared to the net profit for 2024 [1] Group 2: Industry Context - The automotive industry is experiencing intense competition and rapid changes in the market landscape, which has impacted the company's sales performance [1] - The company has not met its expected annual vehicle sales due to these industry challenges [1] Group 3: Strategic Initiatives - To address market changes and seize industry development opportunities, the company is implementing a three-year leap strategy [1] - The company plans to launch multiple new vehicle models and enhance its brand, while also accelerating channel development and market investment [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 北京汽車股份有限公司 BAIC MOTOR CORPORATION LIMITED* （於中華人民共和國註冊成立的股份有限公司） （股份代號：1958） 盈利預警 本公告乃由北京汽車股份有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香港聯合交易所 有限公司證券上市規則第13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部項下之內幕消息 條文而作出。 本公司董事會（「董事會」）謹此通知本公司股東及潛在投資者，根據本集團截至2025年12月31日止年 度未經審計之合併管理賬目（「管理賬」），預期本公司將錄得截至2025年12月31日止年度歸屬於本公 司權益持有人的淨利潤約為人民幣1.1億元至1.3億元，較2024年同期減少約86.4%至88.5%。 本公司認為，由於2025年度汽車行業競爭激烈，產業格局加速變革，受此影響本集團全年汽車銷量 未達預期。同時，為加快推進本公司三年躍升 ...

Group 1 - The document indicates a public announcement period from February 10, 2026, to February 19, 2026 [2]

Core Points - Beijing has announced the 2026 automobile trade-in subsidy policy, which includes two types of subsidies: "scrapping and updating" and "trading and updating" [1] - The application system for the subsidies will open on February 9, 2026, at 10 AM, with eligible car buyers able to receive up to 20,000 yuan in subsidies [1] Group 1: Scrapping and Updating Subsidy - The "scrapping and updating" subsidy applies to consumers who scrap old vehicles and purchase new ones, with a subsidy of 12% of the new car's sales price for electric vehicles, capped at 20,000 yuan [1] - For fuel vehicles with an engine size of 2.0 liters or less, consumers can receive a subsidy of 10% of the new car's sales price, with a maximum of 15,000 yuan [1] Group 2: Trading and Updating Subsidy - The "trading and updating" subsidy is for consumers who sell their old cars and buy new ones, offering an 8% subsidy on the new car's sales price for those purchasing electric vehicles, with a maximum of 15,000 yuan [1] - Consumers can apply for the "trading and updating" subsidy through the Beijing Automobile Trade-in Subsidy System website or mobile applications [1] Group 3: Application Requirements - To qualify for the 2026 automobile trade-in policy, relevant documents for scrapping or transferring old cars and purchasing new ones must be obtained from January 1, 2026 [2] - The old car must be registered in the applicant's name by January 8, 2025, and each consumer can only receive one "scrapping and updating" subsidy or one "trading and updating" subsidy in 2026 [2]

Group 1 - The core viewpoint of the article is the launch of the "Old for New" vehicle subsidy program in Beijing, which aims to encourage consumers to replace old vehicles with new ones through financial incentives [1] Group 2 - The "Scrap and Update" subsidy allows consumers who scrap old vehicles and purchase new ones to receive up to 20,000 yuan, with 12% of the new vehicle's sales price as a subsidy for purchasing new energy vehicles and 10% for fuel vehicles with an engine size of 2.0 liters or less [1] - The "Trade-in Update" subsidy provides up to 15,000 yuan for consumers who sell old vehicles and buy new ones, with an 8% subsidy on the sales price for new energy vehicles [1]

Group 1 - The core viewpoint of the article is the official release of the 2026 automobile trade-in subsidy policy in Beijing, which aims to encourage consumers to replace old vehicles with new ones [1] - The subsidy program includes two types of support: "scrapping and updating" and "trading and updating" [1] - The application system for the subsidies will open on February 9 at 10 AM, allowing eligible car buyers to receive a maximum subsidy of 20,000 yuan [1]

2026年北京市汽车以旧换新补贴政策正式出炉。2月6日记者获悉，北京市正式发布《北京市2026年汽车 以旧换新补贴实施方案》，即将启动实施"报废更新"和"置换更新"两类补贴，申报系统将于2月9日10时 开放，符合条件的购车消费者可获得最高2万元的补贴支持。 其中，"报废更新"是指报废旧车、购买新车。购买新能源乘用车的消费者，可获得新车销售价格12%的 补贴，补贴金额最高2万元；购买2.0升及以下排量的燃油乘用车的，可获得新车销售价格10%的补贴， 补贴金额最高1.5万元。 申领"置换更新"补贴的消费者，可通过"北京市汽车以旧换新补贴系统"电脑端网页、"绿交车辆"小程序 或"京通"移动端"北京市消费品以旧换新专区"线上提交申请。 需要注意的是，在2026年汽车以旧换新政策中，报废或转让旧车、购置新车有关材料应自2026年1月1日 起取得，报废的旧车或售卖的旧车应于2025年1月8日前登记在申领人本人名下，且每名消费者2026年仅 能获得一次"报废更新"补贴或一次"置换更新"补贴。 此外，消费者为申领补贴购买的新能源乘用车应已纳入工业和信息化部《减免车辆购置税的新能源汽车 车型目录》，购买新车的发票和注册登记（上 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 北京汽車股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01958 | 說明 | H 股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,520,690,682 | RMB | | 1 | RMB | | 2,520,690,682 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 2,520,690,682 | RMB | | 1 | RMB | | 2,520,690,682 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 ...