DONGFENG GROUP(HK:00489) Di Yi Cai Jing·2025-09-18 00:09Group 1 - The new joint venture marks an important step in the deepening cooperation between Dongfeng and Huawei, focusing on the manufacturing and sales of intelligent off-road vehicles under the Mengshi brand with a registered capital of 8.47 billion yuan [1][2] - The joint venture will utilize Dongfeng Group's intangible asset rights, including trademark rights, vehicle platform, and proprietary technology for intelligent driving, with production bases in Xiangyang, Wuhan, and Shiyan, each focusing on different vehicle types [1] - The establishment of the joint venture is expected to modernize the management and operational structure of Dongfeng Mengshi, aligning it more closely with new force brands, although there are currently no plans for an IPO [1] Group 2 - The joint venture will be structured based on market principles, establishing a flat and independent internal governance system, promoting resource sharing, and creating a new development mechanism that emphasizes government guidance, enterprise leadership, and industrial collaboration [2] - The collaboration between Dongfeng Mengshi and Huawei will deepen in areas such as intelligent automotive product development, marketing, and ecological services, entering a new model that is between the "HI" model and the "Smart Choice Car" model [2] - Huawei will open its processes and capabilities, while Dongfeng will integrate Huawei's IPD (Integrated Product Development) and IPMS (Integrated Product Marketing and Services) management methods with its existing processes for collaborative innovation [2]