智通财经网·2025-08-26 01:16Group 1 - The core viewpoint of the report is that Dongfeng Group's projected revenue for 2025 is 28.8 billion RMB, with a corresponding sales forecast of 120,000 units, leading to a valuation of Lantu at 34.6 billion RMB, equating to a per-share value of 3.66 HKD [1] - The new target price for Lantu is set at 10.3 HKD, representing a 73% upside from the pre-suspension share price of 5.97 HKD, indicating a positive market reaction expected post-resumption [1] - The report highlights several proposed transactions by Dongfeng Group, including the distribution of existing shares of Lantu and a cash privatization offer for the remaining business, with a total cash payment of 14.68 billion RMB required for the privatization [1] Group 2 - The transaction is viewed as a win-win for all parties involved, as Dongfeng Motor Group (DMG) has been undervalued and the H-share listing has lost its financing function [2] - Independent H-share shareholders will receive 6.68 HKD in cash and an additional 0.3552608 shares of Lantu, providing substantial returns [2] - For Lantu, the share distribution and introduction listing will broaden external financing channels more effectively and at a lower cost compared to traditional IPOs [2] - The controlling shareholder aims to consolidate resources and focus on the development of new energy vehicles by delisting non-Lantu businesses, addressing long-term valuation discount issues [2]