Core Insights - Changan Automobile reported a total vehicle sales of 2.913 million units in 2025, marking an 8.54% year-on-year increase and achieving the highest sales in nearly nine years, with six consecutive years of positive growth [1] - The company's new energy vehicle (NEV) sales surpassed 1 million units for the first time, with a total of 1.109 million units sold in 2025, reflecting a 51% year-on-year growth [4] - The overseas market also showed strong performance, with sales reaching 637,000 units, an 18.9% increase year-on-year, contributing significantly to overall growth [4] Group 1: Sales Performance - In December 2025, Changan sold 254,800 vehicles, a 1.66% increase year-on-year [1] - The NEV segment achieved record sales with contributions from three brands: Changan Qiyuan (411,000 units), Deep Blue Auto (333,000 units), and Avita (120,000 units) [4] - The company has established a solid foundation for steady sales growth through a comprehensive brand matrix covering mainstream markets [3][4] Group 2: Strategic Initiatives - The establishment of the new central enterprise on July 29, 2025, has empowered Changan to accelerate its strategic initiatives in new energy, intelligence, and globalization [3] - Changan's technological innovations, including the "Golden Bell" battery and the SDA platform architecture, have enhanced product competitiveness and driven sales growth [4] - The "Haina Baichuan" plan has facilitated significant global expansion, with the completion of nine overseas factories and plans for 20 more in countries like Brazil and Indonesia [5] Group 3: Future Outlook - Changan aims to strengthen its core technological innovation and deepen the development of its five-brand matrix, targeting a production and sales goal of 5 million units by 2030 [5] - The company is committed to contributing to China's transition from a major automotive nation to a strong automotive nation through high-quality development [5]

Core Viewpoint - In a highly competitive automotive market in 2025, Changan Automobile (000625) has demonstrated robust performance with record-breaking achievements, showcasing strong momentum in high-quality development and strategic resilience [1]. Sales Performance - Changan Automobile achieved total sales of 2.913 million units in 2025, marking an 8.5% year-on-year increase and reaching the highest sales level in nearly nine years, with six consecutive years of positive growth [8][10]. - The company celebrated the milestone of producing its 30 millionth vehicle, achieving this in just 4.5 years from the 20 million mark, highlighting the "Changan speed" [8]. New Energy Vehicle (NEV) Growth - The NEV segment surpassed 1.1 million units sold in 2025, representing a 51% year-on-year increase, placing Changan among the top players in the "million sales club" for NEVs [10]. - The three NEV brands—Avita, Deep Blue, and Changan Qiyuan—contributed significantly to this growth, with Avita achieving sales of over 120,000 units, Deep Blue reaching 333,000 units, and Changan Qiyuan selling 411,000 units [10][11][12]. Global Market Expansion - Changan's overseas sales reached 637,000 units in 2025, an 18.9% increase year-on-year, establishing a new historical high and demonstrating strong global competitiveness [12]. - The company has made significant strides in its global strategy, including the establishment of nine overseas factories and plans for 20 more in countries like Brazil and Indonesia, enhancing its global footprint [12][13]. Strategic Initiatives - The establishment of the new central enterprise on July 29 has empowered Changan to accelerate its three major plans: "Shangri-La" for NEVs, "Beidou Tianshu" for smart technology, and "Haina Baichuan" for globalization, creating a solid foundation for steady sales growth [8][9]. - Changan is committed to technological innovation, with advancements in battery technology and smart driving systems, positioning itself as a leader in the L3 autonomous driving segment [9][11]. Future Outlook - Looking ahead, Changan aims to strengthen its core technological capabilities, deepen the development of its five-brand matrix, and expand its global presence, targeting a production and sales goal of 5 million units by 2030 [13].

Core Viewpoint - The company has achieved comprehensive coverage in the "three electric" fields, including battery systems, electric drive systems, and electric control systems, showcasing significant technological advancements in these areas [1]. Group 1: Battery Systems - The company has successfully developed the "Golden Bell" battery, which features long life, true safety, ultra-high efficiency, and fast charging capabilities [1]. Group 2: Electric Drive Systems - The company has launched the industry's first mass-produced multi-in-one electric drive system, achieving a maximum operational efficiency greater than 94% [1]. - The new Blue Whale powertrain introduces an industry-first integrated plug-in and range-extended technology [1]. Group 3: Electric Control Systems - The company has unveiled the industry's first "seven-in-one" cross-domain integrated SVDC, which enhances overall performance by 70% [1].