DONGFENG GROUP(HK:00489) Zhong Guo Jing Ying Bao·2025-11-11 06:25Core 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 supports Dongfeng Motor's goal of achieving 1 million new energy vehicle sales this year [1][2]. Sales Performance - The timeline for Lantu's sales growth shows that it took 7 months to reach 10,000 units, 15 months to reach 100,000 units, 12 months to reach 200,000 units, and only 7 months to reach 300,000 units [1]. - From January to October 2023, Lantu's cumulative delivery volume increased by 82%, achieving a "nine consecutive months of growth" in sales [3]. Financial Performance - Lantu's gross profit margin has significantly improved from 8.3% in 2022 to 21% in 2024, with a further increase to 21.3% in the first seven months of this year, ranking second in the new energy vehicle industry [3]. - The company achieved its first quarterly profit in Q4 2024 and has already turned a profit in the first seven months of this year, making it the fastest new energy vehicle company to achieve positive operating cash flow [3]. Product Development - The Lantu Tai Shan, the fifth strategic model, is designed to compete in the full-size, high-end luxury SUV market, featuring advanced technology such as Huawei's ADS Ultra and a pure electric range of 350 km [4]. - The production facilities, including the Golden Factory and Yunfeng Factory, are operating efficiently, with an average of one vehicle rolling off the line every 63 seconds, indicating strong production and sales momentum [4]. Market Position - Lantu is positioned as a high-end smart new energy brand, leveraging Dongfeng's extensive automotive manufacturing experience and innovative capabilities to establish a unique path for high-quality development in the competitive Chinese new energy vehicle market [5].