Baic Bluepark New Energy Technology

Recently, institutional investors have been conducting intensive research on A-share listed companies in the automotive industry. From July 1 to 12 p.m. on August 5, a total of 39 companies received 61 rounds of research, with over 500 institutions participating. Among them, 30 are auto parts companies. Feilong Auto Parts, Lizhong Group, and Sailun Tire hosted 99, 65, and 53 institutions respectively. Overseas expansion and global layout were frequently mentioned. Lizhong Group's Mexican plant with an annual capacity of 3.6 million aluminum alloy wheels has entered full production. Sinotruk's export sales accounted for more than half of its total in the first half of the year. BAIC BluePark plans to start KD production layout in Southeast Asia in the second half of the year. In terms of new businesses, Zhaomin Technology has developed multiple new precision components for humanoid robots. Xiling Power's harmonic reducer production line has an annual capacity of about 100,000 units. Changan Automobile has accumulated over 5 million kilometers of testing for Level 3 autonomous driving. On August 4, the mandatory national standard 'Safety Requirements for Intelligent Connected Vehicle Automated Driving Systems' was released, and is planned to be implemented on July 1, 2027.

BAIC BluePark announced that its controlling shareholder, BAIC Group, plans to increase its shareholding in the company through centralized bidding within six months from the date of the announcement, with the increase amount being no less than 50 million yuan and no more than 100 million yuan.

BAIC BluePark recently responded to the Shanghai Stock Exchange's regulatory inquiry letter regarding its 2025 annual report, explaining the significant increase in the sales share of its top five customers. In 2025, sales to the company's top five customers amounted to 15.402 billion yuan, accounting for 55.12 percent, up 20.71 percentage points from the previous year. This was mainly due to the Stelato brand's sales volume rising from 8,600 units to 42,700 units, driving a 371.98 percent year-on-year increase in sales revenue. The largest customer changed from Beijing Automotive Group to China General Technology Group. Under China General Technology Group, China Post Smart Mobility and the former China Post Putai serve as the exclusive general distributors for Stelato in mainland China, with the business later unified under China Post Smart Mobility. The actual purchasing and settlement entity is Smart Mobility, with sales reaching 12.238 billion yuan, accounting for 43.80 percent. The company stated that it has no related-party relationship with China General Technology Group. Although the Stelato brand has exclusive distribution terms, the company has the right to change channels in the event of a breach, and this does not constitute a significant dependency. The terminal sell-through rates for the top five distributors ranged from 78.52 percent to 100 percent. Smart Mobility's inventory of 1,146 vehicles is reasonable stockpiling in line with sales growth, and there were no post-period returns during the reporting period.