DONGFENG GROUP(HK:00489) Zheng Quan Ri Bao·2025-11-10 11:43Core Insights - Lantu Automobile has achieved a significant milestone by rolling off its 300,000th vehicle, marking it as the first high-end new energy brand under a central state-owned enterprise to reach this scale, which is a crucial step towards Dongfeng Motor's goal of selling 1 million new energy vehicles annually [1][2] Group 1: Milestones and Achievements - Lantu's delivery speed has accelerated, achieving 100,000 to 200,000 vehicles in just one year, and then from 200,000 to 300,000 vehicles in only 7 months, showcasing the "Lantu speed" [2] - The cumulative production of 300,000 vehicles is a testament to Lantu's establishment in the high-end new energy vehicle market and reflects the deep integration of Dongfeng's 56 years of automotive experience with innovative capabilities [2][3] Group 2: Market Position and Growth - Lantu's sales growth rate from 2022 to 2024 is projected at a compound annual growth rate (CAGR) of 103.2%, placing it among the top three high-end new energy brands in China [3] - In the first ten months of this year, Lantu's cumulative deliveries have increased by 82% year-on-year, indicating strong market demand and growth potential [3] Group 3: Financial Performance - Lantu's gross margin has significantly improved from 8.3% in 2022 to 21.0% in 2024, and further to 21.3% in the first seven months of 2025, ranking it second in the new energy vehicle industry [3] - The company achieved its first quarterly profit in Q4 2024 and has been the fastest in the industry to reach positive operating cash flow [3] Group 4: Product Development and Innovation - The Lantu Tai Shan model represents the culmination of five years of technological development and brand spirit, designed to compete with global luxury brands [4] - The Tai Shan features advanced technology, including Huawei's ADS Ultra and a comprehensive intelligent cockpit, with a pure electric range of 350 km and a total range exceeding 1,400 km [4] - Lantu has established a robust production system utilizing digital technologies like 5G and big data, enabling efficient mixed-flow production to meet diverse market demands [6]