CHANGAN AUTOMOBILE-B(SZ:000625) 汽车琰究·2025-11-04 14:53Core Viewpoint - The company is experiencing significant growth in wholesale sales, particularly in its self-owned and new energy vehicle brands, indicating a successful transition towards electric and intelligent vehicles [2][3][4]. Group 1: Sales Performance - In October, the group's wholesale sales reached 278,000 units, a year-on-year increase of 11.0% and a month-on-month increase of 4.6% [2]. - Cumulatively, from January to October, the total wholesale sales amounted to 2.374 million units, reflecting a year-on-year growth of 10.1% [2]. - The self-owned brand's wholesale sales in October were 237,000 units, up 11.3% year-on-year and 4.9% month-on-month [3]. Group 2: New Energy Vehicle Growth - The company's new energy vehicle wholesale sales in October reached 119,000 units, marking a year-on-year increase of 36.1% and a month-on-month increase of 15.0% [3]. - From January to October, cumulative new energy vehicle sales totaled 869,000 units, representing a year-on-year growth of 60.6% [3]. Group 3: Brand Performance - The Deep Blue brand sold 37,000 units in October, a year-on-year increase of 28.1% and a month-on-month increase of 9.4% [3]. - The Avita brand achieved sales of 13,506 units in October, up 34.3% year-on-year and 22.5% month-on-month [3]. Group 4: Future Outlook - The company aims for a sales target of 3 million units by 2025, with new energy vehicle sales targeted at 1 million units [3]. - Upcoming models such as the Deep Blue L06 and others are expected to enhance the company's product lineup and support its transition to electric vehicles [4]. Group 5: Corporate Developments - The establishment of a new group under Changan Automobile aims to integrate resources and enhance operational efficiency, with plans for future innovations including humanoid robots and flying cars [5]. - The new group's strategy focuses on building a globally competitive automotive brand with core technologies [5]. Group 6: Financial Projections - Revenue projections for 2025-2027 are estimated at 189.6 billion, 209.5 billion, and 233.5 billion yuan respectively, with corresponding net profits of 6.31 billion, 8.16 billion, and 10.94 billion yuan [6][7]. - The expected earnings per share (EPS) for the same period are projected to be 0.64, 0.82, and 1.10 yuan, indicating a positive growth trajectory [6][7].