DFAC(SH:600006) Cai Jing Wang·2026-01-06 08:29Core Viewpoint - Dongfeng Motor has outlined its "14th Five-Year" development strategy and key tasks for 2026 during its recent work conference, while also summarizing its achievements from 2025 and the "13th Five-Year" period [1]. Group 1: Sales and Market Performance - In 2025, Dongfeng's total sales reached 1.04 million units of new energy vehicles (NEVs), marking a 21% year-on-year increase, with a penetration rate up by 7 percentage points [2]. - The company aims for a total sales target of 3.25 million units in 2026, including 1.7 million NEVs and 600,000 units for export [2][6]. Group 2: Product Development and Innovation - Dongfeng's product lineup for its self-owned NEV brands expanded in 2025, featuring flagship models from Lantu and new products from Yipai and other brands [3]. - The company made significant advancements in hybrid, pure electric, and hydrogen technologies, achieving a thermal efficiency of over 48% for its Mahle hybrid engine and progressing in solid-state battery development [5]. Group 3: Strategic Initiatives and Partnerships - Dongfeng is transitioning its joint ventures towards new models, with the launch of new energy models from Dongfeng Nissan and upgrades in intelligent products [5]. - The company has established strategic partnerships with tech firms like Tencent and Huawei to enhance its "car-internet" integration and smart technology applications [5][8]. Group 4: Organizational and Operational Enhancements - Since 2025, Dongfeng has implemented reforms in organizational structure, process mechanisms, and supply chain collaboration to improve operational efficiency and profitability [8]. - The company plans to strengthen its global business layout, particularly in Europe and Southeast Asia, to drive growth through localized production and marketing networks [8].