从技术变革看，新能源、数智化技术应用将重塑汽车产业格 局。下一代电池正成为产业竞争制高点，产业化进程加快。 新能源只是序章，数智新汽车才是真正的未来，5G、芯片等 技术群突破，推动汽车产业向数智化快速转型，重塑研产供 销运全价值链。商业模式、产品形态、营销模式、生产方式 等，都会呈现新生态。未来的新汽车将拥有类人架构、人类 智慧和超人能力。从前瞻布局看，低空经济是风口，陆海空 一体化出行生态成大势所趋。未来，飞行汽车将在产品端、 系统端、运营端孕育一个新的、庞大的生态网络。 三、请问公司在新能源领域有何规划？ 答：公司将持续以阿维塔、深蓝汽车、长安启源三大新 能源品牌为依托，构建竞争优势。产品方面，未来 5 年，面 向全球推出六座中大型 SUV、MPV 等 50 款全新数智产品。坚 定不移打造全球化大单品，打造 5 款以上 30 万台级产品， 以绝对量的领先拉动整个上下游伙伴的高质量发展。技术方 面，加快完成下一代电池装车验证，2030 年实现量产。 四、请问公司在数智化领域有何规划？ 证券代码：000625、200625 证券简称：长安汽车、长安 B 重庆长安汽车股份有限公司投资者关系活动记录表 编号：20 ...

长安汽车 000625.SZ 公司研究 | 动态跟踪 | | 1 周 | 1 月 | 3 月 | 12 月 | | --- | --- | --- | --- | --- | | 绝对表现% | -1.88 | -9.32 | -7.72 | -9.51 | | 相对表现% | -1.55 | -5.2 | -4.2 | -24.01 | | 沪深 300% | -0.33 | -4.12 | -3.52 | 14.5 | | 姜雪晴 | jiangxueqing@orientsec.com.cn | | --- | --- | | | 执业证书编号：S0860512060001 | | 袁俊轩 | yuanjunxuan@orientsec.com.cn | | | 执业证书编号：S0860523070005 | | 自主新能源车实现同环比较高增长 | 2024-11-17 | | --- | --- | | 毛利率环比改善，预计 4 季度深蓝及阿维 | 2024-11-11 | | 塔销量将继续提升 | | | 整体销量环比增长，自主品牌海外持续较 | 2024-10-12 | | 高增长 | | 202 ...

证券代码：000625(200625) 证券简称：长安汽车（长安 B） 公告编号：2025-03 重庆长安汽车股份有限公司 关于召开 2025 年第一次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重庆长安汽车股份有限公司 2025 年第一次临时股东大会定于 2025 年 2 月 14 日以现场投票和网络投票相结合的方式召开，现将有关事项通知如下： 一、召开会议的基本情况 1．股东大会届次：重庆长安汽车股份有限公司 2025 年第一次临时股东大会。 2．股东大会的召集人：公司董事会。 3．会议召开的合法、合规性：公司第九届董事会第三十二次会议审议通过了 《关于择期召开公司股东大会的议案》，董事会授权董事长决定股东大会召开时 间、地点、议程等具体事宜。本次股东大会相关事宜由董事长确定，召开程序符 合《公司法》和《公司章程》的有关规定。 4．会议召开的日期、时间 现场会议召开时间：2025 年 2 月 14 日下午 3:00 开始。 网络投票时间：2025 年 2 月 14 日。其中，通过深圳证券交易所交易系统进 行网络投票的具体时间为 20 ...

重庆长安汽车股份有限公司 2025 年第一次临时股东大会资料 2025 年 2 月 14 日 重庆长安汽车股份有限公司 2025 年第一次临时股东大会会议议程 一、现场会议时间 2025 年 2 月 14 日下午 3:00 开始 二、会议地点 重庆市江北区东升门路 61 号金融城 2 号 T2 栋长安汽车 会议室 三、参加会议人员 本公司股东或代理人，公司董事、监事及高级管理人员、 公司聘请的见证律师及其他有关人员。 5.现场表决及投票 四、会议议程 6.统计现场表决票/股东自由交流 7.宣读现场表决结果 8.询问股东对表决结果有无异议 1.主持人致欢迎辞 2.审议股东大会议案 3.股东审议及质询 4.推选计票人及监票人 9.股东大会决议签字 重庆长安汽车股份有限公司 2025 年 2 月 14 日 目 录 | 一、关于公司符合向特定对象发行 A 股股票条件的议案 2 | | | --- | --- | | 二、关于公司 2024 年度向特定对象发行 A 股股票涉及关联 | | | 交易的议案 | 3 | | 三、关于公司 2024 年度向特定对象发行 A 股股票方案的议 | | | 案 | 4 | | 四、 ...

Group 1: Strategic Goals - The company aims to achieve a total sales volume of 5 million vehicles by 2030, with 3.5 million being new energy vehicles and 30% of sales coming from overseas markets [1] - The strategic layout includes the "13335" plan, which encompasses 1 innovation plan, 3 sub-plans (new energy, intelligence, globalization), 3 major brands (Changan, Deep Blue, Avita), and 5 overseas markets [1] Group 2: Overseas Market Plans - In 2025, the company plans to launch the Rayong factory in Southeast Asia, marking the entry into the 2.0 phase of its globalization strategy [2] - The company will hold a brand launch event in Europe and establish a subsidiary in Brazil for the South American market [2] - The company will implement KD projects in the CIS region, including Kazakhstan and Uzbekistan [2] Group 3: New Energy Initiatives - Over the next 5 years, the company plans to introduce 50 new smart products, including six large SUVs and MPVs [3] - The goal is to create over 5 models with a production target of 300,000 units each, driving high-quality development across the supply chain [3] - The company aims to achieve mass production of the next-generation battery by 2030 [3] Group 4: Digitalization and Technology - The company is focused on advancing its smart chassis and distributed electric drive technologies, aiming to become an industry leader in high-level intelligent driving by 2027 [4] - Future plans include the development of flying cars and humanoid robots, contributing to a new multi-dimensional transportation ecosystem [4] Group 5: Market Insights - The global automotive market is projected to approach 100 million units by 2025 and exceed 108 million units by 2030 [5] - China's automotive sales are expected to surpass 32 million units in 2025 and exceed 35 million units by 2030 [6] - The penetration rate of new energy vehicles is expected to increase, with a projected ratio of EV, XEV, and ICE vehicles reaching 4:4:2 in the next 3-5 years [6]

Group 1: Global Expansion Plans - The company will implement the "Sea of Stars" global strategy, focusing on long-termism and localism, while adhering to ESG principles [2] - In 2025, the company plans to launch the following initiatives: production at the Southeast Asia factory, a brand launch in Europe, KD projects in the CIS region, establishment of a subsidiary in Brazil, and full introduction of three brands in the Middle East and Africa [2] - Seven teams will be organized to conduct in-depth market research across five major global regions to support the global strategy [2] Group 2: Strategic Goals - The company is on its third entrepreneurial journey, continuously optimizing its strategic plan, now at version 8.0, with a focus on the "13335" strategic layout [3] - By 2030, the overall sales target is set at 5 million vehicles, with 3.5 million in new energy vehicles and 30% of sales from overseas markets [3] Group 3: New Energy Initiatives - The company will leverage its three new energy brands to build competitive advantages, planning to launch 50 new smart products over the next five years [3] - The goal is to produce over five models with sales exceeding 300,000 units each, driving high-quality development across the supply chain [3] Group 4: Digitalization and Technology - The company aims to achieve breakthroughs in key technologies, including smart chassis and distributed electric drive systems, with a target to lead in advanced driving technology by 2027 [3] - Future plans include advancing in flying cars and humanoid robots to create a new ecosystem for transportation [3] Group 5: Commercial Vehicle Strategy - The commercial vehicle segment, led by Changan Kaicheng, will focus on low-carbon smart logistics and new energy pickups, with a sales target of 600,000 units by 2030 [4] - The strategy includes three business models: vehicle R&D and sales, external platform and technology output, and smart logistics ecosystem services [4]

Group 1 - The core viewpoint of the article is that Changan Automobile is optimistic about the growth of the global automotive market, predicting a total market size of nearly 100 million vehicles by 2025 and over 108 million by 2030, with steady growth in China's automotive sales [1] - Changan Automobile expects China's vehicle sales to exceed 32 million by 2025 and surpass 35 million by 2030, indicating a stable growth trajectory [1] - The company emphasizes that the penetration rate of new energy vehicles will continue to rise, and a multi-power structure will coexist in the long term [1] Group 2 - Changan Automobile believes that technological transformation, particularly in new energy and digital intelligence, will reshape the automotive industry landscape, with next-generation batteries becoming a competitive focal point [1] - The company asserts that the future of the automotive industry will involve a new ecosystem in business models, product forms, marketing strategies, and production methods, driven by advancements in technologies such as 5G and chips [1] - The rise of low-altitude economy and integrated transportation across land, sea, and air is expected to become a significant trend [1] Group 3 - Regarding overseas markets, Changan Automobile plans to accelerate its global expansion, with specific goals set for 2025, including the launch of the Southeast Asia Rayong factory and entry into the European market [2] - The company aims to establish a subsidiary in Brazil and fully introduce its brands CHANGAN, DEEPAL, and AVATR in the Middle East and Africa by 2025 [2] - By 2030, Changan's overall sales target is set at 5 million vehicles, with 3.5 million being new energy vehicles and 30% of total sales coming from overseas markets [2]

Core Viewpoint - Changan Automobile plans to expand its global presence by 2025, marking a significant step in its globalization strategy with multiple initiatives across various regions [1] Group 1: Overseas Market Expansion - The company will commence production at its Rayong factory in Southeast Asia, officially entering the 2.0 phase of its globalization strategy [1] - A brand launch event will be held in Europe, marking Changan's official entry into the European market [1] - The KD project in the CIS region, including countries like Kazakhstan and Uzbekistan, will officially commence production [1] - Establishment of a subsidiary in Brazil will be completed for operations in South America [1] - The full introduction of the CHANGAN, DEEPAL, and AVATR brands will be achieved in the Middle East and Africa [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The report highlights significant developments in the company's operations, particularly in the electric vehicle sector, with a focus on achieving ambitious sales targets and expanding global presence [4][5] - The company aims for total sales of 3 million vehicles in 2025, with a specific target of 1 million in new energy vehicles and 1 million in overseas sales [4] - The report emphasizes the company's strong performance in 2024, with a notable increase in sales of its self-owned brands and new energy vehicles [4] Summary by Sections Financial Performance - The company's main revenue for 2023 is projected at 151.3 billion, with a growth rate of 25% [4] - The net profit attributable to the parent company for 2023 is estimated at 11.3 billion, reflecting a significant increase from previous years [4] - The gross profit margin is expected to stabilize around 17% for the upcoming years [4] Sales and Production - In December 2024, the company reported wholesale sales of 250,700 vehicles, marking a year-on-year increase of 16.55% [4] - The total cumulative wholesale sales for 2024 reached 2.6838 million vehicles, a year-on-year growth of 14.79% [4] - The company achieved a new energy vehicle sales target close to 750,000 units for 2024, with a penetration rate of 45.92% [4] Strategic Initiatives - The company plans to launch 13 new energy products in 2025, including models equipped with advanced technologies [4] - The report outlines the company's strategy to enhance its international footprint, focusing on markets in Southeast Asia, Europe, and Latin America [4] - Collaborations with key partners like Huawei and CATL are expected to deepen, supporting the company's transition to electric and smart vehicles [4]

Investment Rating - The report maintains a "Recommended" rating for the company [6]. Core Views - The company is expected to accelerate its transition to electric vehicles in 2025, with a sales target of 3 million units and 1 million units for new energy vehicles [2][3]. - The company has shown significant growth in its new energy vehicle sales, with a year-on-year increase of 52.8% in 2024 [2]. - The company plans to launch several new models, including the Avita 06 and Deep Blue S09, to enhance its product lineup and support its electric transformation [3]. Summary by Sections Sales Performance - In December, the company's wholesale sales reached 251,000 units, a year-on-year increase of 16.6% and a month-on-month decrease of 9.6% [1]. - For the entire year of 2024, total sales were 2.684 million units, up 5.1% year-on-year [1]. New Energy Vehicle Growth - The company’s self-owned passenger vehicle sales in December were 150,000 units, a year-on-year increase of 32.0% [2]. - The total sales of self-owned new energy vehicles in 2024 reached 735,000 units, reflecting a significant year-on-year growth of 52.8% [2]. Global Expansion - The company’s overseas sales in 2024 totaled 536,000 units, marking a year-on-year increase of 53.0% [4]. - Plans for 2025 include establishing 8 new operating entities and 16 logistics nodes overseas, aiming to enhance global market presence [4]. Financial Forecast - Revenue projections for 2024, 2025, and 2026 are estimated at 163.0 billion, 188.6 billion, and 212.1 billion yuan respectively [5]. - The net profit for the same years is forecasted to be 6.1 billion, 8.2 billion, and 10.8 billion yuan respectively [5]. Valuation Metrics - The report provides earnings per share (EPS) estimates of 0.61, 0.83, and 1.09 yuan for 2024, 2025, and 2026 respectively [5]. - The price-to-earnings (PE) ratios are projected to be 21, 15, and 12 for the same years [5].