DFAC(SH:600006) Chang Jiang Shang Bao·2025-07-15 23:16Core Viewpoint - Hubei province is actively transforming its automotive industry to achieve high-quality development, setting ambitious "double million" targets for 2025, which include producing and selling 1 million new energy vehicles (NEVs) by Dongfeng Motor and reaching an annual production of 1 million "Hubei-made" NEVs [1][2]. Group 1: Industry Development - Hubei has 25 vehicle manufacturers and over 2,400 auto parts companies, with a total automotive production capacity nearing 4 million units. The automotive industry in Hubei is expected to exceed 1 trillion yuan in revenue by 2024 [2][4]. - The province has established over 300 companies in the new energy and intelligent connected vehicle sectors, with 19 NEV manufacturers and a production capacity of 1.75 million NEVs [2][4]. Group 2: Dongfeng Motor's Role - Dongfeng Motor, as the leading automotive enterprise in Hubei, has achieved an 83% penetration rate of new energy in its passenger vehicles. The company is focusing on technological innovation and has maintained an R&D investment intensity of around 8% [3][4]. - In 2024, Dongfeng Motor delivered 2.55 million vehicles, a 4.5% increase year-on-year, with NEV sales reaching 860,000 units, marking a 64.4% growth, significantly outpacing the industry average [3][4]. Group 3: Future Investments and Innovations - Dongfeng Motor plans to invest over 60 billion yuan in the next three years, launching 30 new passenger NEV models and 14 new commercial vehicle models to strengthen its core competitiveness in the evolving market [5]. - The company has established a robust supply chain with over 1,000 first-tier suppliers, making the region one of the most comprehensive and innovative automotive parts bases in China [4].