DONGFENG GROUP(HK:00489) 21世纪经济报道·2025-09-17 13:15Core Viewpoint - Dongfeng Group is establishing a joint venture with Xiangyang State-owned Assets to focus on the research, manufacturing, and sales of smart off-road vehicles, leveraging its existing brand and technology assets [4][6]. Group 1: Joint Venture and Market Focus - The new company will utilize Dongfeng's intangible asset rights, including vehicle platforms and smart driving technologies, and will produce vehicles under the "Mans" brand, targeting the light off-road market [4][6]. - The light off-road market is experiencing significant growth, with domestic sales of boxy vehicles expected to exceed 769,000 units in 2024, growing at over three times the industry average [6]. Group 2: Strategic Partnerships and Technology Integration - Huawei plays a crucial role in this partnership, with plans for deeper collaboration in smart vehicle product development, marketing, and ecosystem services [7]. - The collaboration will involve integrating Huawei's product development and marketing methodologies with Dongfeng's existing processes to enhance innovation and efficiency [7]. Group 3: Organizational Restructuring and Market Strategy - Dongfeng Group is undergoing significant internal reforms to consolidate resources and improve efficiency, including the establishment of Dongfeng Yipai Automotive Technology Co., which integrates various brands under one management structure [8][9]. - The annual sales target for the newly formed company is set at 1.5 million vehicles, with the Yipai brand expected to contribute two-thirds of this volume [8]. Group 4: International Expansion and Future Outlook - The new company aims to accelerate the internationalization of the Mans brand, promoting Chinese smart off-road vehicles in global markets [7][9]. - Dongfeng's recent actions, including privatization and plans for Lantu Automotive's listing in Hong Kong, are seen as steps to enhance capital support and international presence [8].