CHANGAN AUTOMOBILE-B(SZ:000625) Zhong Guo Qi Che Bao Wang·2025-09-02 08:00Core Viewpoint - The future of the Chinese electric vehicle market is represented by companies like BYD, Tesla, and Deep Blue, with ambitions to become a leading state-owned enterprise in the sector [2][5][8]. Group 1: Global Expansion Strategy - Changan Automobile has divided its overseas market into five major regions and emphasizes the importance of global presence for success [3][4]. - Deep Blue's CEO, Deng Chenghao, spent two months in Europe to understand local markets and consumer perceptions, confirming the global competitiveness of Chinese smart electric vehicles [2][3]. - Deep Blue aims to enter 90 countries and regions this year, with a sales target of 56,000 units, and plans to challenge 380,000 units by 2030 [4][6]. Group 2: Market Position and Performance - The domestic electric vehicle market is highly competitive, with only a few companies like BYD and Tesla achieving profitability, while Deep Blue is currently operating at a loss [5][7]. - Deep Blue has seen a 71% year-on-year increase in sales in the first half of this year, with global deliveries surpassing 500,000 units [6][7]. - The company aims to achieve profitability this year, having significantly reduced losses and maintaining a good gross margin [7]. Group 3: Product Development and Innovation - Deep Blue is focused on high-quality product development, with plans to launch a series of significant models this year, targeting 500,000 units in sales [8][9]. - The company is investing heavily in R&D, with annual expenditures in the hundreds of millions, and aims to maintain technological leadership in the electric vehicle sector [7][10]. - Deep Blue's first-generation products are designed to support a market scale of 600,000 to 700,000 units, with a critical focus on the second-generation platform expected to launch between 2026 and 2028 [9][11]. Group 4: Organizational Structure and Vision - Deep Blue is characterized as a unique state-owned entrepreneurial company, combining state enterprise roots with market-oriented mechanisms [8]. - The restructuring of Changan Automobile into an independent state-owned enterprise aims to enhance its electric vehicle business, with Deep Blue positioned as a core brand [6][8]. - Deng Chenghao envisions Deep Blue as a model for state-owned enterprises in the electric vehicle sector, aspiring to achieve a sales milestone of over one million units [8][9].