Core Insights - The launch of the Foton Motor's "Qimingxing" series of pure electric light trucks marks the first mass production of a dedicated platform for pure electric light trucks globally, reflecting strong market confidence and a shift from policy-driven to market-driven growth in China's new energy commercial vehicle industry [1][3] Group 1: Production and Market Impact - The mass production of the Qimingxing platform is a critical step in Foton's new energy strategy and signifies a transition in the commercial vehicle sector from "oil-to-electric" to "forward development" [3][6] - Foton's new energy vehicle sales reached 92,000 units from January to November 2025, a year-on-year increase of 89.1%, indicating a leading position in the industry [6] - The signing of 1,682 bulk orders at the launch event demonstrates the strong market demand for efficient and economical green logistics solutions [12][16] Group 2: Technological Advancements - The Qimingxing platform represents a revolutionary shift in design, moving away from the "oil-to-electric" approach to a fully electric power system and intelligent architecture, addressing key industry pain points such as limited space, short range, and low intelligence [9][11] - The platform's development involved over 1.7 billion yuan in R&D investment, achieving breakthroughs in five core dimensions: efficiency, intelligence, safety, comfort, and ecology [7][9] Group 3: Strategic Goals and Future Plans - Foton aims to become a world-class commercial vehicle enterprise by 2025, with the Qimingxing platform solidifying its position as the leading brand in China's commercial vehicle sector [3][6] - The company plans to produce 32,000 units and generate 3.5 billion yuan in output value by 2025, with a focus on localizing parts production and enhancing supply chain resilience [6][12] Group 4: Industry Transformation - The launch of the Qimingxing platform signifies a shift in the commercial vehicle industry from adaptive innovation to leading innovation, establishing a new technical paradigm for pure electric light trucks [11][16] - The green transformation of the logistics industry is becoming a necessity, with the Qimingxing platform expected to lower the barriers to electric vehicle adoption and accelerate the industry's transition to greener solutions [14][16]

科技赋能 重塑冬季服务新范式 来源：环球网 凛冬时节，低温、冰雪等极端天气给物流运输行业带来多重挑战，保障运输畅通与行车安全，既是关乎 经济循环高效运转的民生大事，也是交通运输行业高质量发展的重要课题。在这一背景下，以北汽福田 为代表的汽车制造企业主动扛起社会责任，将技术创新与民生保障深度融合，以持续六年的冬季服务实 践，为近320330万客户提供冬日暖心服务，为行业安全稳定运行注入温暖力量，也为企业践行社会责任 提供了生动范本。 优质的服务既需要技术的精度，也离不开人文的温度。北汽福田的冬季服务实践始终聚焦用户核心需 求，将人文关怀贯穿服务全过程，让机械保障充满民生温度。针对不同用户群体的差异化需求，推出多 样化举措，全方位提升用户用车体验。 数字化转型浪潮下，技术创新正成为破解冬季运输难题的重要支撑。北汽福田积极拥抱产业变革，持续 深化车联网、大数据等前沿技术的研发与应用，目前其自主开发的车联网系统已接入实现超330万辆车 辆的广泛接入商用车，构建起覆盖全国的智能服务网络。北汽福田将多项技术深度融入冬季服务保障体 系，打破传统"被动响应"的行业惯例，推动服务模式从"事后维修"向"事前预判"的转型升级。 极 ...

Investment Rating - The report maintains a "Positive" investment rating for the heavy truck industry [3] Core Insights - The heavy truck industry continues to show high prosperity, driven by policies encouraging vehicle replacement and increasing demand for new energy vehicles [10][51] - The report highlights three main drivers of growth: low oil and gas price differentials, a surge in new energy vehicle sales due to year-end purchasing incentives, and strong export demand, particularly from Africa [30][48][71] Summary by Sections Overall Performance - In November 2025, wholesale heavy truck sales reached 113,000 units, a year-on-year increase of 65.3% and a month-on-month increase of 6.6% [10] - Heavy truck registration sales were 77,000 units, up 34.4% year-on-year and 9.4% month-on-month [10] - Heavy truck exports totaled 34,000 units, reflecting a year-on-year increase of 38.2% but a month-on-month decrease of 8.3% [10] Key Drivers - **Oil and Gas Price Differential**: The oil and gas price differential remains low, with liquefied natural gas priced at 4,213.7 RMB/ton and diesel at 6,883.8 RMB/ton, resulting in a differential of 2,670 RMB/ton [33] - **New Energy Vehicle Surge**: The new energy heavy truck registration reached 28,000 units in November 2025, marking a 192.6% increase year-on-year and a 40.8% increase month-on-month [51] - **Export Demand**: Heavy truck exports to Africa reached 14,111 units, a significant year-on-year increase of 99.7% [76] Market Segmentation - **By Purpose**: In November 2025, logistics vehicle registration was 60,000 units, up 39.7% year-on-year, while engineering vehicle registration was 17,000 units, up 18.6% year-on-year [13][23] - **By Energy Type**: Natural gas heavy truck registrations were 19,000 units, up 70.7% year-on-year, while new energy heavy trucks accounted for 28,000 units, with a penetration rate of 36.4% [51][38] Company Performance - The top three heavy truck manufacturers in November 2025 were China National Heavy Duty Truck Group, FAW Group, and Dongfeng Motor, with sales of 29,000, 24,000, and 17,000 units respectively [13][27] - The market shares for these companies were 25.5%, 21.0%, and 15.2%, showing varying changes compared to the previous year [27] Inventory Trends - Both enterprises and channels are increasing inventory levels, with a slight rise in inventory by 0.1 thousand units for enterprises and 0.3 thousand units for channels in November 2025 [14]

12月30日，河南省商丘市豫商经济技术开发区现代装备制造产业基地，福田"启明星"新能源轻卡系列产 品正式下线。"启明星"是福田汽车历时3年、投入17亿元人民币研发的标杆产品。图为"启明星"新能源 轻卡车正式下线。李恒 摄 星"新能源轻卡车正式下线。李恒 摄 图为"启明 图为"启明 星"新能源轻卡车生产线。李恒 摄 图为"启明 星"新能源轻卡车生产线。李恒 摄 星"新能源轻卡车生产线。李恒 摄 图为"启明 星"新能源轻卡车生产线。李恒 摄 图为"启明 星"新能源轻卡车生产线。李恒 摄 图为"启明 星"新能源轻卡车生产线。李恒 摄 图为"启明 ...

证券之星消息，12月30日商用车板块较上一交易日上涨0.27%，金龙汽车领涨。当日上证指数报收于 3965.12，下跌0.0%。深证成指报收于13604.07，上涨0.49%。商用车板块个股涨跌见下表： 从资金流向上来看，当日商用车板块主力资金净流出9307.09万元，游资资金净流入6316.26万元，散户资 金净流入2990.83万元。商用车板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000951 | 中国車汽 | 2942.02万 | 15.66% | -126.24万 | -0.67% | -2815.78万 | -14.98% | | 600686 | 金龙汽车 | 1813.28万 | 8.16% | 2706.60万 | 12.17% | -4519.88万 | -20.33% | | 000957 | 中通客车 | 946.80万 | 8.54% | 631.50万 | ...

Group 1 - The project for purchasing 4.2-meter hydrogen energy refrigerated vehicles in Xinjie City, Hebei, has been awarded to Beiqi Foton Motor Co., Ltd. with a bid price of 25 million yuan [1][2] - The delivery period for the vehicles is set to be within 15 calendar days after the contract is signed [1][2] - The project is initiated by Beijing Xinhydrogen Technology Co., Ltd. [1][2] Group 2 - Dongfeng Special Commercial Vehicle's new leadership team has been established, outlining the development goals and strategic tasks for the 14th Five-Year Plan [6] - 200 hydrogen energy heavy trucks have been delivered to the northwest region, indicating a growing market for hydrogen-powered vehicles [6] - Weichai has sold nearly 100,000 units, with significant sales increases for Longqing and Yuchai, while gas heavy truck power sales have increased by 10% year-on-year as of November [6]

Group 1 - The Cheetah Conservation Fund (CCF) is actively involved in rescuing and treating poached cheetah cubs in the Horn of Africa [1] - Chery Group is promoting global ESG initiatives, collaborating with Discovery to support wildlife conservation efforts [1] - There is an ongoing adoption program for cheetahs, allowing individuals to adopt a cheetah named GAIA to help them return to their natural habitat [1]

Core Viewpoint - The strategic cooperation agreement between the National Centre for the Performing Arts and BAIC Group marks the beginning of a cross-industry collaboration aimed at integrating the automotive industry with cultural arts, contributing to the economic and social development of the capital [1][3]. Group 1: Strategic Cooperation Details - BAIC Group has become the "strategic partner" of the National Centre for the Performing Arts, with its luxury brand, Enjoy Car, designated as the "official vehicle" of the theatre [3]. - The collaboration will encompass various areas including technology cooperation, product showcasing, brand promotion, cultural creative development, and artistic performances [3]. Group 2: Cultural and Manufacturing Integration - The integration of culture and manufacturing is seen as a necessary trend, with both parties aiming to foster the vitality of traditional and modern Chinese culture, creating a new image of intelligent and culturally rich Chinese manufacturing [5]. - The partnership is positioned as a practical implementation of serving the modernization of the capital, aligning with the aspirations of the people for a better life [5]. Group 3: Technological Innovations and Product Development - A new audiovisual innovation laboratory named "Hall Echo" was inaugurated, focusing on creating exclusive sound systems and audiovisual solutions for BAIC's self-owned vehicle brands [7]. - BAIC Group's Enjoy Car will operate as the reception vehicle for artists and guests at the National Centre for the Performing Arts, showcasing the allure of "new luxury" in Chinese automobiles [9]. Group 4: Future Prospects and Goals - The signing ceremony is viewed as the prelude to a deeper collaboration, with BAIC Group committed to fulfilling its responsibilities as a state-owned enterprise in the capital [9]. - The company aims to leverage shared resources and create mutual value, enhancing the cultural impact of both the automotive products and the artistic offerings of the theatre [9].

证券代码：600166 证券简称：福田汽车 公告编号：2025-100 北汽福田汽车股份有限公司 (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议采取现场记名投票与网络投票相结合方式进行表决，经过半数董事推举， 本次股东会由董事蔡恩禹先生主持。本次会议的召集、召开及表决方式符合《公 司法》和《公司章程》的有关规定。 二、 议案审议情况 (一) 股东会召开的时间：2025 年 12 月 29 日 (二) 股东会召开的地点：福田汽车 106 会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (五) 公司董事和董事会秘书的列席情况 1、公司在任董事11人，列席11人（含视频方式）； 2、董事会秘书列席了本次会议； 3、部分高级管理人员列席了本次会议。 (一) 非累积投票议案 2025年第九次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 61 ...

北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.: 010-50867666 传真/Fax: 010-56916450 网址/Website: www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 北京市康达律师事务所 关于北汽福田汽车股份有限公司 2025 年第九次临时股东会的法律意见书 康达股会字【2025】第 0527 号 致：北汽福田汽车股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以下简称"《股 东会规则》"）以及《北汽福田汽车股份有限公司章程》（以下简称"《公司章程》"） 的规定，北京市康达律师事务所（以下简称"本所"）接受北 ...