DFAC(SH:600006) Zhong Guo Jing Ying Bao·2026-01-14 09:06Core Viewpoint - Dongfeng Motor emphasizes its commitment to safety and user value in the automotive industry, positioning itself as a leading partner in green intelligent mobility services [1][2]. Group 1: Strategic Goals and Market Position - Dongfeng Motor aims to achieve over 1 million sales of new energy vehicles by 2025, with a year-on-year growth of 21% and a penetration rate increase of 7 percentage points [1]. - The company targets overall sales of 3.25 million vehicles by 2026, including 1.7 million new energy vehicles and 600,000 vehicle exports [1][8]. - Dongfeng Motor's self-owned brand sales are expected to exceed 1.5 million units, with a year-on-year growth of over 9% and a market share of over 60% [1]. Group 2: Technological Innovation and Product Development - Dongfeng Motor is focusing on integrating technology and innovation to enhance user experience, with plans to launch the "Tianyuan Intelligent" technology brand by 2025 [3]. - The company has developed L2.9 level urban NOA core algorithms and is conducting demonstration operations for L4 level intelligent driving across 15 provinces and 35 cities [3]. - The introduction of luxury electric off-road vehicles and intelligent SUVs aims to provide users with enhanced driving experiences [2]. Group 3: Market Trends and Consumer Behavior - The Chinese automotive market is projected to see a retail sales volume of approximately 23.74 million vehicles in 2025, with new energy vehicles accounting for 12.81 million units, reflecting a year-on-year growth of 17.6% [6]. - The "old-for-new" vehicle replacement policy has significantly boosted consumer demand, with over one-third of total sales attributed to this initiative [6]. - Technological advancements in battery performance and driving assistance systems are encouraging consumers to upgrade their vehicles [6]. Group 4: Financial Performance and Future Challenges - Dongfeng Motor anticipates a 30% increase in operating efficiency by 2025, with profitability in its self-owned new energy passenger vehicles turning around [7]. - The company is preparing for a new competitive landscape starting in 2026, with the introduction of a 5% vehicle purchase tax, which may increase consumer costs [7]. - Dongfeng Motor plans to enhance its operational management and risk defense mechanisms while pursuing digital transformation across its value chain [7][8].