Core Viewpoint - China Changan Automobile Group has established itself as a significant player in the automotive industry, aiming to become a world-class automotive brand through strategic restructuring and ambitious growth targets [1][3]. Group 1: Company Overview - China Changan Automobile Group has a registered capital of 20 billion yuan and total assets exceeding 300 billion yuan, integrating resources from 117 subsidiaries [1]. - The company is headquartered in Chongqing and employs approximately 110,000 people, covering the entire automotive industry chain, including vehicle manufacturing, parts, and financial logistics [3]. Group 2: Financial Performance - In the first half of 2023, the group achieved a revenue of 146.9 billion yuan and sold 1.355 million vehicles, marking an 8-year high, with 452,000 of those being new energy vehicles, representing a year-on-year growth of 49.1% [3]. - The annual targets include total sales of 3 million vehicles, 1 million new energy vehicles, and revenue of 355 billion yuan [3]. Group 3: Strategic Goals - By 2030, the company aims for a production and sales scale of 5 million vehicles, with new energy vehicles accounting for over 60% and overseas sales exceeding 30% [3]. - The company has introduced the "Five New Changan" development path, focusing on new missions, strategies, automotive innovations, ecological construction, and service enhancements [4]. Group 4: Technological Advancements - The company plans to invest over 200 billion yuan in R&D over the next decade, emphasizing core technologies such as intelligent driving and advanced battery systems [4]. - The debut of the new model, Deep Blue L06, features the world's first 3-nanometer automotive-grade cockpit chip, enhancing capabilities for multi-screen interaction and AI services [6]. Group 5: Brand Development - Changan is building a comprehensive new energy product line centered around three brands: Avita, Deep Blue, and Qiyuan, with plans to launch over 50 new models in the next five years [4]. - Avita focuses on high-end intelligent electric vehicles, while Deep Blue targets the mid-to-high-end mainstream new energy market, offering products priced between 150,000 and 300,000 yuan [4].

Group 1: Company Overview - China Changan Automobile Group was officially established on July 29, marking the first central enterprise headquartered in Chongqing, with a registered capital of 20 billion yuan and total assets of 308.7 billion yuan [2][4] - The group is formed from Changan Automobile Co., Ltd., Changan Automobile Technology Group, and several financial subsidiaries, encompassing 117 subsidiaries and a diverse business scope including vehicle manufacturing, sales, finance, and logistics [2][4] - In the first half of the year, the group reported a revenue of 146.9 billion yuan, with vehicle sales reaching 1.355 million units, the highest in nearly eight years, and a projected annual revenue of 355 billion yuan [2][4] Group 2: Strategic Vision and Goals - The chairman, Zhu Huarong, emphasized the mission to build a world-class automobile brand, aiming for a production and sales scale of 5 million vehicles by 2030, with over 60% being new energy vehicles [2][3] - The group plans to invest over 200 billion yuan in the new automotive sector over the next decade, establishing a technology innovation team of over 10,000 people [3][5] - Future product launches will include over 50 new energy models, with a focus on creating a comprehensive brand matrix and advancing in cutting-edge technologies such as AI and quantum computing [3][5] Group 3: Industry Impact and Development - The establishment of China Changan Automobile Group is seen as a significant step in enhancing the competitiveness of China's automotive industry and optimizing state-owned capital layout [4][5] - The group aims to integrate resources effectively to navigate market competition and enhance its core capabilities, contributing to the high-quality development of the intelligent connected new energy vehicle industry [5][6] - The strategic initiatives include the "Shangri-La" plan for new energy, the "Beidou Tianshu" plan for intelligence, and the "Haina Baichuan" plan for globalization, focusing on building three major brands: Avita, Deep Blue, and Changan [5][6]

Core Viewpoint - The establishment of China Changan Automobile Group Co., Ltd. (referred to as "New Changan") marks a significant step in the automotive industry, aiming to become a world-class automotive group with global competitiveness and independent core technologies [2][6]. Group 1: Company Overview - New Changan was officially established with a registered capital of 20 billion yuan, making it the third automotive central enterprise in China, surpassing Dongfeng Motor Group's 15.6 billion yuan but below FAW Group's 35.4 billion yuan [2]. - The company has 117 subsidiaries, total assets of 308.7 billion yuan, and approximately 110,000 employees, with business operations covering complete vehicles, components, finance, and motorcycles [2]. - The company aims to achieve a production and sales scale of 5 million vehicles by 2030, with over 60% of sales coming from new energy vehicles and over 30% from overseas markets [5][6]. Group 2: Strategic Goals and Plans - New Changan plans to accelerate its "Shangri-La" new energy initiative, "Beidou" intelligent initiative, and "Haina Baichuan" globalization initiative, while developing three major brands: Avita, Deep Blue, and Changan [5]. - The company will invest 200 billion yuan in the new energy sector over the next decade and expand its technology innovation team by 10,000 people [5]. - The 2025 sales target is set at 3 million vehicles, including 1 million new energy vehicles, with a focus on five key areas: traffic, new products, internationalization, innovation, and mechanisms [6]. Group 3: Market Position and Competition - New Changan is entering a competitive automotive market, particularly in the new energy and intelligent connected vehicle sectors, where it faces challenges from both state-owned enterprises and market-competitive companies [6][7]. - The establishment of New Changan is seen as a necessary move to enhance the pace of development in the new energy vehicle sector, which has lagged behind some market players [7]. - The company is committed to fostering strategic partnerships with global automotive and ICT companies to leverage resources and enhance market competitiveness [3][4]. Group 4: Future Outlook - New Changan aims to embody the philosophy of "striving for excellence and setting an example," focusing on high-quality development in China's automotive industry [8]. - The company will prioritize innovation in key technologies such as power batteries, automotive chips, and intelligent driving to create high-performance products that meet market demands [8].

3天前，这家全国第三家汽车央企正式成立，注册资本高达200亿元。在三大央企中，新长安的注册资本 超过东风汽车集团的156亿元，次于一汽集团的354亿元。新长安拥有117家子公司、资产总额3087亿 元、从业人数约11万人，主要经营业务涵盖汽车整车及零部件、金融、摩托车等领域。 自成立以来，外界对新长安充满着好奇。在新能源汽车年度渗透率即将突破50%的变革浪潮下，新长安 需要在原长安汽车的基础上，担负起新时代建立的汽车央企独有风貌，向"具有全球竞争力、拥有自主 核心技术的世界一流汽车集团"的目标迈进。正如国务院国资委党委书记、主任张玉卓所说，新长安要 着力打造战略先进、创新领先、治理高效、功能突出的智能网联新能源汽车头部企业，并以绿色低碳智 能产品激发新需求，助力构建现代化汽车产业体系，加快推进汽车强国建设。 打造一个新长安。 7月30日，气温逼近40℃的重庆迎来中国长安汽车集团有限公司（以下简称"新长安"）首次媒体沟通 会，8位新长安领导班子成员一齐亮相，围绕新长安发展方向、新长安与原长安汽车异同、各子品牌规 划等多个层面问题进行解答。 第三家汽车央企怎么造？ 今日，朱华荣与往常接受采访一样，快步走进会议厅落 ...

Core Insights - China Changan Automobile Group Co., Ltd. has been established as a central enterprise approved by the State Council, with a registered capital of 20 billion yuan and total assets of 308.7 billion yuan [2] - The company aims to become a world-class automobile group with global competitiveness and independent core technologies, targeting a sales volume of 3 million vehicles in 2023 and 5 million by 2030, with over 60% from new energy vehicles [2][4] Group Structure and Strategy - The establishment of China Changan Automobile involves the integration of 117 subsidiaries, including Changan Automobile and Chen Zhi Group, and is part of a broader national strategy for industrial development and globalization [2] - The company has launched three strategic plans: "Shangri-La," "Beidou Tianshu," and "Haina Baichuan," focusing on expanding overseas markets in Southeast Asia, Middle East Africa, Central and South America, Europe, and Eurasia [3] Product Development and Innovation - China Changan Automobile plans to introduce over 50 new energy products globally in the next five years, including more than seven models with sales targets of 300,000 units each [4] - The company will invest over 200 billion yuan in the new automotive sector over the next decade, establishing a technology innovation team of over 10,000 people to enhance its technological capabilities [4] Ecosystem and Collaboration - The company aims to strengthen vertical integration and horizontal expansion of its industrial ecosystem, focusing on emerging businesses such as autonomous driving, flying cars, and humanoid robots [5] - Strategic collaborations with major groups, including Haier, have been initiated to enhance resource utilization and accelerate global market expansion [5]

中金公司研报指出，7月29日，中国长安汽车集团有限公司成立，成为长安汽车新间接控股股东。中国 长安汽车集团负责人表示，新央企未来将着力打造智能汽车机器人、具身智能等新质生产力，探索海陆 空立体出行新生态，并加速全球化发展。该行认为中国长安汽车集团是首家总部落户重庆的一级央企， 其成立后我国正式形成三大央企汽车集团，顺应了国家推动央企改革、优化国有资本布局的趋势，有助 于集中资源、提升汽车产业竞争力。展望下半年，3季度启源A06（中大型轿车，搭载激光雷达）、4季 度启源紧凑级SUV、深蓝紧凑级轿车有望上市，有望带动新能源销量继续爬坡。维持"跑赢行业"评级， 维持A股的目标价15.5元，B股估值偏低、股息率高，上调B股目标价11%至5.0港元。 ...

Group 1 - The establishment of China Chang'an Automobile Group Co., Ltd. has been approved by the State Council, marking it as the 73rd central enterprise under the supervision of the State-owned Assets Supervision and Administration Commission (SASAC) [1][2] - The number of central enterprises under SASAC has increased to 100, reflecting a shift in state-owned enterprise reform towards professional integration and the establishment of new functional central enterprises to meet industrial upgrade demands [2] - The founding ceremony of China Chang'an Automobile Group took place in Chongqing, making it the first central enterprise headquartered in Chongqing [3] Group 2 - The new group is formed from the split of the original Equipment Group and includes 117 subsidiaries, covering various sectors such as complete vehicles, auto parts, sales, motorcycles, finance, and logistics services [3] - Following the acquisition, the indirect controlling shareholder of Chang'an Automobile has changed to China Chang'an Automobile Group, while the actual controller remains the SASAC [3] - In the first half of the year, Chang'an Automobile achieved a cumulative sales volume of 1.355 million vehicles, the highest in nearly eight years, with electric vehicle sales reaching 450,000 units, a year-on-year increase of 48.8% [3] - The company is advancing its "Beidou Tianshu 2.0" intelligent plan and has established its first overseas new energy factory, marking a breakthrough in global expansion [3] - The group aims to focus on developing smart automotive robotics and embodied intelligence, creating a comprehensive transportation ecosystem, and expanding into Southeast Asia and the Middle East and Africa [3]

Group 1 - The establishment of China Changan Automobile Group marks the third automotive central enterprise in China and the 100th central enterprise overall [2][5][7] - The registered capital of China Changan Automobile Group is 20 billion yuan, with Zhu Huarong serving as the legal representative [2][3] - The new central enterprise is formed from the split of China Ordnance Equipment Group and includes subsidiaries such as Chongqing Changan Automobile Co., Ltd. and Changan Zhixing Automobile Technology Group [3][4] Group 2 - China Changan Automobile Group aims to focus on developing intelligent automotive robots, flying cars, and integrated intelligent solutions, while also accelerating its global expansion into Southeast Asia, the Middle East, Africa, Central and South America, and Europe [6] - The group consists of 117 subsidiaries, with business operations in vehicle manufacturing, sales, financial services, and logistics [6] - The restructuring is seen as a significant step in optimizing state-owned capital layout and enhancing the competitiveness of China's automotive industry [6] Group 3 - In the first half of 2023, Changan Automobile sold 1.3553 million vehicles, with a year-on-year growth of 1.59% [10] - The company has set ambitious goals, including achieving total sales of 5 million vehicles by 2030, with 4 million from its own brand and 3 million from smart new vehicles [8][9] - Changan's overseas strategy aims for over 10 billion USD in investment and annual overseas sales of 1.2 million vehicles by 2030 [9]

据新华社电 国务院国资委29日发布公告称，经国务院批 准，组建中国长安汽车集团有限公司，由国务院国有资 产监督管理委员会代表国务院履行出资人职责，列入国 务院国有资产监督管理委员会履行出资人职责的企业名 单。 当日，中国长安汽车集团有限公司成立大会在重庆举 行，标志着首家总部落户重庆的一级央企开始挂牌运 营。 这家新央企由原兵器装备集团分立而成，拥有117家分公 司和子公司，主要经营业务有汽车整车及零部件、汽车 销售、摩托车、金融及物流服务等。中国长安汽车集团 负责人表示，新央企未来将着力打造智能汽车机器人、 具身智能等新质生产力，探索海陆空立体出行新生态，并加速全球化发展，加快开拓东南亚、中东非 洲、中南美洲、欧亚、欧洲五大区域市场。 国务院国资委网站显示，此次改革后，国务院国资委监管的中央企业数量共计100家，中国长安汽车集 团位列"央企名录"第73位。 至此，我国形成中国一汽、东风公司、中国长安汽车三大央企汽车集团，将更好助力智能网联新能源汽 车产业高质量发展，加快发展世界一流品牌。 ...

记者丨易思琳 编辑丨黄剑 江佩佩 中国第三家汽车央企正式诞生。 7月29日，中国长安汽车集团有限公司在重庆挂牌成立。这距离长安、东风两大汽车集团的重组暂停、 国务院批准兵装旗下汽车业务独立、国资委按程序下发通知，仅过去55天。 新汽车央企股权结构图曝光 29日晚，重庆长安汽车股份有限公司（000625.SZ，下称"长安汽车"）发布《关于中国兵器装备集团有 限公司重组进展暨公司控股股东变更的提示性公告》，首次披露新汽车央企成立后的股权结构图。 关于长安汽车股权方面，本次变动前，兵器装备集团合计持有长安汽车近40亿股股份（占长安汽车总股 本的 39.69%）、辰致汽车科技集团有限公司100%股权全部分立至中国长安。 公司于7月29日午间发布重组进展公告，并定于7月30日下午召开投资者说明会。截至29日收盘，长安汽 车股价报收13.27元/股，总市值为1316亿元。 目前国务院国资委网站的央企名录已经完成更新，中国长安汽车集团正式入列，序号为73。这也是继新 增的中国雅江集团之后，由国务院国资委直接管理的第100家央企。 新长安以新央企的姿态亮相，除名字、总部尘埃落定外，同一时间，新汽车集团的领导班子正式公布。 据 ...