Gelonghui July 5, Soochow Securities Research News pointed out that FAW Liberation (000800.SZ) commercial vehicles cover the entire industry chain, the core focus on heavy card power, and the intelligent building system is complete. Since 2020, the company's commercial vehicle owner business gross profit margin has remained stable at about 10%, and continues to promote cost control, reduce costs and increase efficiency. In the future, with the recovery of the industry, the performance is expected to increase at a high growth rate. The company's product / technology / supply chain / channel layout is perfect, and the strong background casts a solid leading position. In addition, the company actively expand overseas markets, layout of more than 80 countries & 300 distributors, to help truck products continue to expand outward. In view of the company's commercial vehicle industry chain coverage, the continued development of new energy, performance is expected to increase, that the company should enjoy a higher valuation premium, the first coverage, given a "buy" rating.