CIMC Vehicles Update - 20260730

English summary

### CIMC Vehicles Update - 20260730 Time: 2026-07-30 09:56:32 Content: North American trailer demand expected to rebound. Previously, North American trailer sales declined for three consecutive years, with Wabash, a trailer-focused company, posting Q1 26 revenue only about 40% of its peak. North American logistics demand is stable, with natural trailer replacement demand. U.S. trailer orders in May were 2.5x YoY, but cancellation rates were high. Industry sales in Q2 26 remained around 17,000 units, improving sequentially. Continued growth in exports to emerging markets. In line with heavy truck exports, CIMC Vehicles' trailers are highly competitive in emerging markets, with a potential to maintain 30% compound growth. Domestic trailers & upper bodies continue to improve. On July 14, domestic trailers mandated EBS (similar to passenger car one-box), raising industry entry barriers and shifting share to leaders like CIMC. Additionally, the special vehicle industry's sales are only 1/4 of the peak, and upper bodies are expected to recover with the special vehicle market, with new energy heavy truck replacement also promoting upper bodies. ...