Core Viewpoint - Lantu Automotive launched the Lantu Taishan SUV, marking a significant entry into the high-end electric vehicle market, which is shifting from scale expansion to value cultivation in China [1][2] Product Launch and Market Positioning - The Lantu Taishan is available in four versions: Max, Max+, Ultra, and Black Warrior, targeting the high-end SUV segment, which has been dominated by foreign brands [1] - Lantu aims to become the first Chinese high-end electric vehicle brand to mass-produce SUVs, MPVs, and sedans, with the Taishan seen as a key product to set industry benchmarks [1][2] Sales Performance - Lantu FREE+ saw a 500% year-on-year sales increase in October, ranking among the top three in the 200,000 to 300,000 yuan hybrid SUV market [2] - The new Lantu Zhiyin topped the sales chart for pure electric vehicles in the 200,000 yuan category in September, while the Lantu Dreamer remains a leader in the high-end electric MPV segment [2] Technical Specifications - The Lantu Taishan features an 800V super hybrid system, with a standard 65 kWh battery from CATL, offering a pure electric range of 350 km and a combined range exceeding 1400 km [2] - It supports 5C peak charging, allowing 20% to 80% charging in just 12 minutes, and has a dual-motor intelligent all-wheel-drive system with a total power output of 380 kW and torque of 705 N·m, achieving 0-100 km/h in 5.2 seconds [2] Intelligent Features - The vehicle employs Huawei's ADS4 four-laser solution for comprehensive environmental perception and enhanced emergency response capabilities [3] - The integration of HarmonyOS and voice models allows for rapid human-machine interaction with a response time of 0.8 seconds [3] Chassis and Safety Innovations - Lantu Taishan is the first Chinese brand vehicle to feature a three-chamber air suspension, enhancing stability and urban maneuverability [3] - The vehicle's safety is reinforced with a 2200 MPa door ring, having undergone extensive crash testing to ensure high passive safety standards [3] Strategic Focus - Lantu emphasizes independent control of core technologies to drive industry chain upgrades, ensuring product quality and contributing to breakthroughs in key automotive technologies [4] - The brand integrates Chinese cultural elements into its design and actively engages with users to align product offerings with consumer needs [5] Market Expansion and Global Strategy - Lantu has established a sales network covering 148 cities with 407 stores, including a flagship experience center in Wuhan [5] - The company is expanding into international markets, including the Middle East and Europe, with plans to adapt products for local preferences [5] Future Outlook - Lantu submitted its listing application to the Hong Kong Stock Exchange, signaling a new phase of capital empowerment and global development opportunities [5]

● 龚梦泽 熊永红 11月18日，岚图汽车在深圳以"争峰"为主题举办岚图泰山上市发布会，这款大六座SUV正式推出Max 版、Max+版、Ultra版及黑武士版四大版型。当前中国新能源汽车产业正从规模扩张转向价值深耕。此 前售价40万元以上的高端汽车市场曾长期被海外品牌主导，如今自主品牌加速突破，大六座SUV作为家 庭消费升级与商务需求的交叉赛道，更是成为各品牌必争的战略高地。其中，理想、问界等品牌通过精 准定位实现销量跃升。在此背景下，岚图泰山的入场被视作高端新能源汽车品牌向核心细分市场发起冲 击的关键动作。 在智能化方面，该车型采用华为乾崑智驾ADS4四激光方案，可实现对周围环境的全维度感知，预判和 处理紧急情况的能力更强，而鸿蒙座舱5与语音大模型的组合，让人机交互响应速度快至0.8秒，支持四 音区精准识别。 在中国品牌颇有建树的底盘技术方面，岚图泰山的突破同样显著。作为首个搭载三腔空气悬架的中国品 牌车型，配合双向16°后轮转向系统与EDC魔毯功能，让车长5.23米、轴距3120毫米的大型SUV转弯半 径仅为5.4米，兼顾稳定性与城市通勤灵活性。"我们强调的不是技术堆砌，而是用户体验，比如三腔空 悬高度可 ...

Core Insights - Lantu Automobile has officially rolled out its 300,000th vehicle, achieving this milestone in just 7 months, which is crucial for Dongfeng Group's goal of selling 1 million new energy vehicles this year [1] - The company is expanding its production capacity with two factories now operating in a coordinated manner, with the Golden Factory producing 150,000 vehicles annually and the Yunfeng Factory set to double that capacity [1] - The upcoming launch of the Lantu Taishan, a flagship SUV, is anticipated to enhance the company's product lineup and market presence [1] Production and Quality Control - The Yunfeng Factory has achieved full automation in stamping and welding processes, with the rear door production line being the first fully domestically produced line in China [2] - Lantu has shifted its quality metrics from "defect count" to "Net Promoter Score (NPS)," covering the entire product, sales, and service process [2] - The local supply chain integration has improved from 20% to 30%-40%, fostering collaborative relationships with suppliers [2] Technological Collaboration and Strategy - Huawei is significantly enhancing Lantu's brand through smart technology integration, with models like Lantu FREE+ and the new Lantu Zhiyin featuring Huawei's HarmonyOS [3] - Lantu employs a dual strategy of "full-stack self-research + open collaboration" to navigate the competitive landscape of smart technology [3] - The company offers both self-developed and Huawei's solutions for its Dreamer model, with sales evenly split between the two [4] Market Position and Future Outlook - The launch of the Lantu Taishan will allow the company to cover mainstream price segments, but it faces challenges in maintaining high-quality production while increasing market share in a competitive new energy vehicle market [4] - As Lantu approaches its IPO in Hong Kong, it must demonstrate not only manufacturing capabilities but also a sustainable profit model to the capital market [4]

Core Insights - Dongfeng Motor Corporation aims to achieve a high-quality target of 1 million annual sales of new energy vehicles by the end of 2025, as highlighted in their recent promotional campaign [1][4] - The company has seen significant growth in its subsidiary, Lantu Motors, which reached a production milestone of 300,000 vehicles in just 7 months, becoming the first high-end new energy brand from a state-owned enterprise to achieve this scale [1][3] Group 1: Strategic Initiatives - Dongfeng is focusing on transforming from a traditional fuel vehicle manufacturer to a leader in new energy vehicles, emphasizing the need to break industry inertia and external skepticism [2] - The company is implementing a "three-year action plan for transformation and upgrading," which includes enhancing its brand matrix with new energy brands like Lantu, Mengshi, and Yipai [2][3] - Dongfeng is also investing in platform architecture for passenger vehicles, developing various frameworks such as M TECH, Dongfeng Quantum, and green energy DSMA [3] Group 2: Sales Performance - In October, Dongfeng sold 241,000 vehicles, marking a 16.6% year-on-year increase, with new energy vehicle sales reaching 112,000 units, a 42.17% increase [4][5] - Lantu Motors achieved a record delivery of 17,218 vehicles in October, with a cumulative year-on-year growth of 82% from January to October [5] - Mengshi and Yipai also reported significant sales growth, with Mengshi's sales increasing by 197% and Yipai's by 43.6% year-on-year for the same period [5] Group 3: Future Outlook - Dongfeng plans to continue its dual strategy of independent development and open collaboration, focusing on innovation and deepening reforms to ensure the successful implementation of its strategic goals [6] - The company aims to achieve its long-term vision of becoming a world-class enterprise by 2030 and a benchmark for international competitiveness by 2035 [6]

Core Insights - Lantu Automobile has achieved a significant milestone by rolling off its 300,000th vehicle, marking it as the first high-end new energy brand under a central state-owned enterprise to reach this scale, which supports Dongfeng Motor's goal of achieving 1 million new energy vehicle sales this year [1][2]. Sales Performance - The timeline for Lantu's sales growth shows that it took 7 months to reach 10,000 units, 15 months to reach 100,000 units, 12 months to reach 200,000 units, and only 7 months to reach 300,000 units [1]. - From January to October 2023, Lantu's cumulative delivery volume increased by 82%, achieving a "nine consecutive months of growth" in sales [3]. Financial Performance - Lantu's gross profit margin has significantly improved from 8.3% in 2022 to 21% in 2024, with a further increase to 21.3% in the first seven months of this year, ranking second in the new energy vehicle industry [3]. - The company achieved its first quarterly profit in Q4 2024 and has already turned a profit in the first seven months of this year, making it the fastest new energy vehicle company to achieve positive operating cash flow [3]. Product Development - The Lantu Tai Shan, the fifth strategic model, is designed to compete in the full-size, high-end luxury SUV market, featuring advanced technology such as Huawei's ADS Ultra and a pure electric range of 350 km [4]. - The production facilities, including the Golden Factory and Yunfeng Factory, are operating efficiently, with an average of one vehicle rolling off the line every 63 seconds, indicating strong production and sales momentum [4]. Market Position - Lantu is positioned as a high-end smart new energy brand, leveraging Dongfeng's extensive automotive manufacturing experience and innovative capabilities to establish a unique path for high-quality development in the competitive Chinese new energy vehicle market [5].

Core Insights - Lantu Automobile has achieved a significant milestone by rolling off its 300,000th vehicle, marking it as the first high-end new energy brand under a central state-owned enterprise to reach this scale, which is a crucial step towards Dongfeng Motor's goal of selling 1 million new energy vehicles annually [1][2] Group 1: Milestones and Achievements - Lantu's delivery speed has accelerated, achieving 100,000 to 200,000 vehicles in just one year, and then from 200,000 to 300,000 vehicles in only 7 months, showcasing the "Lantu speed" [2] - The cumulative production of 300,000 vehicles is a testament to Lantu's establishment in the high-end new energy vehicle market and reflects the deep integration of Dongfeng's 56 years of automotive experience with innovative capabilities [2][3] Group 2: Market Position and Growth - Lantu's sales growth rate from 2022 to 2024 is projected at a compound annual growth rate (CAGR) of 103.2%, placing it among the top three high-end new energy brands in China [3] - In the first ten months of this year, Lantu's cumulative deliveries have increased by 82% year-on-year, indicating strong market demand and growth potential [3] Group 3: Financial Performance - Lantu's gross margin has significantly improved from 8.3% in 2022 to 21.0% in 2024, and further to 21.3% in the first seven months of 2025, ranking it second in the new energy vehicle industry [3] - The company achieved its first quarterly profit in Q4 2024 and has been the fastest in the industry to reach positive operating cash flow [3] Group 4: Product Development and Innovation - The Lantu Tai Shan model represents the culmination of five years of technological development and brand spirit, designed to compete with global luxury brands [4] - The Tai Shan features advanced technology, including Huawei's ADS Ultra and a comprehensive intelligent cockpit, with a pure electric range of 350 km and a total range exceeding 1,400 km [4] - Lantu has established a robust production system utilizing digital technologies like 5G and big data, enabling efficient mixed-flow production to meet diverse market demands [6]

Core Insights - Lantu Motors has achieved a significant milestone by rolling out its 300,000th vehicle, making it the first high-end new energy brand under a central state-owned enterprise to reach this scale, marking a crucial point in Dongfeng Motor's goal of achieving 1 million new energy vehicle sales this year [1] - The company has demonstrated remarkable growth, achieving a compound annual growth rate of 103.2% from 2022 to 2024, ranking among the top three high-end new energy brands in China [2] - Lantu Motors has also improved its profitability, with gross margins increasing from 8.3% in 2022 to 21.0% in 2024, and further to 21.3% in the first seven months of 2025, making it the second highest in the new energy vehicle industry [2] Company Performance - Lantu Motors delivered 82% year-on-year growth in cumulative deliveries from January to October 2025, achieving a "nine consecutive months" increase [2] - The company has achieved its first quarterly profit in Q4 2024 and has been the fastest in the industry to reach positive operating cash flow [2] - The Lantu Tai Shan model features advanced technology, including Huawei's ADS Ultra and HarmonyOS, and is the first domestic model equipped with a three-chamber air suspension system, typically found in luxury vehicles [2] Production Efficiency - Lantu Motors utilizes digital technologies such as 5G, big data, and cloud computing to drive efficient production, enabling mixed-flow production of various configurations [3] - The company operates two production bases, achieving an average of one vehicle rolling off the line every 63 seconds, indicating strong production and sales momentum [3]

Core Insights - Lantu Automotive achieved a record delivery of 17,218 vehicles in October, marking an 82% year-on-year growth from January to October, demonstrating strong growth momentum and development potential [1][6][7] Delivery Performance - In October, Lantu Automotive's delivery reached a historical high, contributing to a total of 17218 vehicles delivered [1] - The company has maintained a steady growth trend with nine consecutive months of delivery increases [1][6] Product Launches and Innovations - The flagship SUV, Lantu Taishan, is set to launch in November, targeting the luxury market with advanced features such as the Huawei QianKun intelligent driving system and a comprehensive range of over 1400 km [4] - The Lantu Zhaiguang L sedan will officially launch in December, featuring industry-leading technology and a strong market response [5] Production Capacity - To meet the growing order demand, Lantu's two production bases can produce a vehicle every 63 seconds [4] - The company is on track to reach the milestone of 300,000 vehicles produced, becoming the first central state-owned enterprise high-end new energy brand to achieve this [4][6] Market Positioning - Lantu Automotive is positioned as a high-end new energy brand, focusing on quality development and differentiation in the competitive automotive market [6][7] - The company has maintained leading positions in various segments, including the Lantu Dreamer in the high-end MPV market and the Lantu FREE+ in the mid-large SUV market [5][6] Capital Market Strategy - Lantu Automotive has submitted a listing application to the Hong Kong Stock Exchange, marking a significant step in its capital market strategy [5][6] - The dual strategy of "products + capital" is driving the company's rapid development and enhancing its competitive edge in the high-end new energy vehicle sector [7]

Core Viewpoint - Lantu Motors is experiencing significant growth, with a record delivery of 17,218 vehicles in October and an 82% year-on-year increase in cumulative deliveries from January to October, indicating strong market momentum and development potential [1][5][7] Group 1: Delivery and Growth Performance - In October, Lantu Motors achieved a historic high in vehicle deliveries, totaling 17,218 units, marking the ninth consecutive month of growth [1] - Cumulative deliveries from January to October increased by 82% year-on-year, showcasing robust growth dynamics [1][5] - The company is on track to reach a milestone of 300,000 vehicles produced, with the launch of its fifth strategic model, Lantu Taishan, expected in November [1][5] Group 2: Product Development and Market Positioning - Lantu Motors is focusing on high-quality development and user-centric strategies, with the upcoming launch of the Lantu Taishan and Lantu Chasing Light L models generating significant market anticipation [1][3] - The Lantu Taishan is positioned as a luxury flagship SUV, featuring advanced technology such as Huawei's ADS 4 and a comprehensive range of smart configurations [1] - The Lantu Chasing Light L, a luxury sedan, showcases China's technological confidence with its 800V smart hybrid technology and impressive performance metrics [3] Group 3: Production Capacity and Operational Efficiency - To meet increasing order demands, Lantu Motors is ramping up production at its Golden Factory and Yunfeng Factory, achieving a vehicle production rate of one unit every 63 seconds [5] - The company is set to celebrate the production of its 300,000th vehicle in November, marking a significant achievement as the first central state-owned high-end new energy brand to reach this milestone [5] Group 4: Capital Market Strategy - Lantu Motors has formally submitted its listing application to the Hong Kong Stock Exchange, marking a significant step in its capital market strategy [7] - The company is undergoing a comprehensive upgrade in product layout and capital operations to enhance its competitive position in the high-end new energy market [7]

Core Insights - Lantu Automotive achieved a record delivery of 17,218 vehicles in October, marking an 82% year-on-year growth from January to October, and has maintained a strong momentum with nine consecutive months of over 10,000 deliveries [1] Group 1: Product Performance - Lantu's models, including Lantu FREE+, Lantu Zhi Yin, and Lantu Dreamer, continue to lead in their respective market segments [1] - The flagship sedan, Lantu Chasing Light L, has launched in 153 cities with 500 stores nationwide, receiving strong pre-order interest [1] - The upcoming flagship SUV, Lantu Tai Shan, set to launch in November, features advanced technologies such as 800V intelligent hybrid, the first domestic three-chamber air suspension, Huawei's Qian Kun ADS 4, and HarmonyOS cockpit 5, targeting the luxury market priced at 500,000 [1] Group 2: Market and Capital Developments - Lantu has submitted its application for a Hong Kong IPO during the National Day holiday, indicating a significant step forward in its capital market process [1] - The company is set to produce its 300,000th vehicle in November, establishing itself as the first central state-owned high-end new energy brand to reach this milestone [1] - With a robust product lineup, Lantu is positioned for accelerated market growth and potential future success [1]