DONGFENG GROUP(00489) 每日经济新闻·2025-03-27 06:04Core Viewpoint - Dongfeng Motor Group Co., Ltd. reported a total revenue of RMB 106.197 billion for 2024, a 6.9% increase from RMB 99.383 billion in 2023, driven by growth in passenger vehicle sales, particularly in self-owned and new energy vehicles [1] Financial Performance - Total revenue for 2024: RMB 106.197 billion, up 6.9% from RMB 99.383 billion in 2023 [1] - Gross profit reached RMB 13.585 billion, a 38.2% increase from the previous year, with gross margin rising from 9.9% in 2023 to 12.8% in 2024 [4] - The company achieved a profit attributable to equity holders of RMB 0.58 billion, recovering from a loss of RMB 38.87 billion in the previous year [4] - The debt-to-asset ratio remained stable at 52.4%, indicating a healthy financial position [4] - Operating cash flow increased by 88.0%, with the operating cash ratio improving by 7.1 percentage points to 16.4% [4] Sales Performance - Total sales volume for 2024 was 1.8959 million units, a decline of 9.2% year-on-year [4] - Joint venture sales fell by 9.2%, with Dongfeng Nissan's sales down 12.7% to 631,200 units and Dongfeng Honda's sales down 29.2% to 428,200 units [4] - Self-owned vehicle sales, however, grew by 26.4% to 438,900 units, with high-end new energy brand Lantu achieving a 59.3% increase in sales to 80,100 units [4] Strategic Initiatives - The company plans to double its investment in new energy research and development, with over 60% of R&D focused on new energy and 80% on passenger vehicles [5] - By 2025, multiple new models and technologies will be launched across various brands, including Lantu's introduction of four or more new or updated models [5] - Dongfeng Nissan is set to launch five new energy models, including the first pure electric vehicle, Nissan N7 [6] - The company aims to achieve a total sales target of 3 million units in 2025, with 500,000 units planned for overseas export [6] Corporate Restructuring - There is no confirmed announcement regarding the restructuring between Dongfeng Motor and Changan Automobile, despite market speculation [7]