DONGFENG GROUP(HK:00489) Mei Ri Jing Ji Xin Wen·2025-09-25 11:06Core Insights - Lantu Automotive is accelerating its efforts to list on the Hong Kong Stock Exchange, with significant management changes indicating a new strategic direction [1][3][4] Management Changes - On September 22, Lantu Automotive completed a major personnel adjustment, with CEO Lu Fang also taking on the roles of legal representative and chairman, while former chairman You Zheng stepped down [1] - Several board members, including Qin Xuanyuan and Qin Sheng, have exited, while six new directors have been appointed, marking a significant shift in the company's governance structure [2] Strategic Implications - The management restructuring is seen as a precursor to Lantu's upcoming IPO, aligning with Dongfeng Group's transition to an "investment company" role [3] - Dongfeng Group announced it would distribute its 79.67% stake in Lantu to shareholders, facilitating Lantu's introduction to the Hong Kong market and the privatization of Dongfeng Group [3] Financial Performance - Lantu Automotive has shown strong growth, delivering 81,768 vehicles from January to August, a 92% increase year-on-year [8] - The company is nearing profitability, with a significant reduction in net losses, from a tax-adjusted loss of 14.72 billion yuan in 2023 to an expected 1.8 million yuan in 2024 [8]