嵐圖汽車科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：7489） 自願公告 2026年3月交付更新資料 本公告乃由嵐圖汽車科技股份有限公司（「本公司」或「嵐圖汽車」）自願作出。 本公司於2026年3月交付新車15,019輛，同比增長50.1%，環比增長79.7%；2026年至今交 付新車33,892輛，同比增長30.2%。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 VOYAH AUTOMOTIVE TECHNOLOGY CO., LTD. 1 科技企業，形成了全棧自研、領先一代的創新實力，打造了嵐圖FREE、夢想家、追光、 知音、泰山五大車型，產品線全面覆蓋轎車、SUV及MPV三大細分市場，是中國首個達 成30萬輛規模的央國企高端新能源品牌。 承董事會命 嵐圖汽車科技股份有限公司 董事長兼執行董事 盧放 中國武漢，2026年4月1日 2026年3月10日，嵐圖夢想家迎來第20萬輛下線，冠軍版車型同步推出。2026年3 ...

Core Viewpoint - Lantu Automotive has officially listed on the Hong Kong Stock Exchange, becoming the first high-end new energy vehicle company under a central state-owned enterprise, with an opening price of 7.5 HKD per share and a market capitalization exceeding 25 billion HKD [5][10]. Company Background - Lantu Automotive was established in 2021, backed by Dongfeng Motor Corporation, aiming to create a high-end autonomous brand after previous attempts with the Dongfeng A9 model were unsuccessful [6][10]. - The CEO, Lu Fang, has extensive experience in the automotive industry, having worked nearly 20 years at FAW Volkswagen before joining Dongfeng [6][7]. Product Development and Sales - Lantu launched its first mass-produced model, the Lantu FREE, in 2021, which saw monthly sales grow from 408 units to 1,139 units within four months [7]. - The company has since introduced several models, including the Lantu Dreamer MPV and has completed significant financing rounds, including a 4.55 billion RMB A round in 2022, the largest first-round financing in China's new energy vehicle sector at that time [9][10]. Financial Performance - Lantu's projected sales for 2023, 2024, and 2025 are 50,285 units, 80,116 units, and 150,169 units respectively, with a compound annual growth rate of 72.8% from 2023 to 2025 [13]. - Revenue forecasts for the same years are 12.75 billion RMB, 19.36 billion RMB, and 34.86 billion RMB, with a projected net profit of 1.02 billion RMB in 2025 after losses in the previous years [14]. Market Position and Competition - The company acknowledges the intense competition in China's new energy vehicle market and is actively seeking partnerships, such as a strategic cooperation agreement with Huawei for smart driving and software development [15]. - The automotive landscape in Wuhan, where Lantu is based, is rapidly evolving, with significant contributions to China's new energy vehicle production, accounting for over 3% of the national output [15][16]. Industry Trends - The article highlights a broader trend of traditional automakers launching new energy brands, with several companies, including Changan and SAIC, also preparing for IPOs and securing substantial funding [17][18]. - The competitive landscape is described as increasingly brutal, with many players expected to exit the market, leading to a consolidation phase similar to that seen in other industries [19].

Group 1 - Lantu Automotive is set to list its H-shares on the Hong Kong Stock Exchange on March 19, following a swift four-month approval process [2][3][4] - The company, founded in 2021 and headquartered in Wuhan, focuses on high-end electric vehicles and has achieved a valuation exceeding HKD 41 billion [4][6] - The listing is expected to enhance Lantu's financing channels and strengthen its high-end brand image, thereby improving its competitiveness in the global market [5] Group 2 - Lantu Automotive achieved profitability in 2025, with a net profit of CNY 1.02 billion, driven by a significant increase in vehicle sales [8][7] - The company's gross margin improved from 14.2% in 2023 to 20.9% in 2025, positioning it among the leading electric vehicle manufacturers [10] - The sales volume for Lantu's "Dreamer" series, a high-end MPV, is projected to reach 76,045 units in 2025, contributing significantly to revenue [15][26] Group 3 - Lantu's production facility in Wuhan has an annual capacity of 150,000 vehicles, with utilization rates exceeding 100% in late 2025 [20][21] - The company plans to expand its product offerings to include SUVs and sedans, targeting a price range of CNY 200,000 to CNY 500,000 [22] - The sales forecast for various models in 2025 includes 44,249 units for the FREE series and 20,382 units for the Zhi Yin series [26] Group 4 - Lantu has filed for 1,874 authorized patents and has 5,405 patents pending, focusing on smart connectivity, assisted driving, and vehicle safety [29] - The company has established an employee incentive program to retain talent, with 402 employees receiving stock options by mid-2025 [29][31] - Lantu aims to leverage partnerships, such as integrating Huawei's advanced driving and cabin technologies into its vehicles [32]

Core Insights - Lantu Automotive has received principal approval for its Hong Kong listing, completing all preliminary regulatory processes, which confirms the certainty of its listing [2] - The company submitted its prospectus to the Hong Kong Stock Exchange on October 2 last year and completed compliance preparations in just four months, setting a high-efficiency example for state-owned enterprises in the new energy sector [2] - Lantu has rapidly developed over the past year, launching several models and establishing a comprehensive product matrix covering high-end SUVs, MPVs, and sedans, with significant sales and quality advantages [2] Financial Performance - In Q4 2024, Lantu achieved its first quarterly profit, which expanded to 479 million yuan from January to July 2025, marking it as a rare profitable new energy vehicle company before its IPO [3] - The listing is expected to broaden Lantu's financing channels and optimize its capital structure, providing financial support for technology development, capacity expansion, and global layout, thus aiding its transition to a new stage of high-quality development [3] Product Development - Lantu plans to launch four new models in 2026, all equipped with L3-level intelligent driving assistance hardware, including the Lantu Taisan Ultra, which is set to be the first commercially produced vehicle designed with L3 architecture [2]

Core Viewpoint - The "Ticket to Travel Hubei" initiative aims to stimulate cultural and tourism consumption in Hubei Province by offering over 30 million yuan in benefits to tourists, enhancing their experience and boosting the local economy [1] Group 1: Activity Overview - The initiative, running from February 3 to March 31, provides a total of over 30 million yuan in cultural and tourism consumption benefits, with individual tourists eligible for up to 125,350 yuan in rewards [1] - The program is centered around the "Hubei You Li HB GIFTS" WeChat mini-program, integrating various tourism resources and offering four types of benefits to create a win-win situation for tourists, merchants, and the market [1] Group 2: Benefit Packages - Four major benefit packages are designed to cover the entire consumption chain for tourists, including pre-trip, during the trip, and post-trip scenarios [2] - The "Welcoming Package" targets tourists from outside Hubei, offering a chance to win prizes by uploading travel tickets, with benefits including discounts on scenic spots, hotel cashback, and rental car discounts [2] - The "Universal Package" is available to all tourists in Hubei, providing exclusive benefits from over 30 well-known local attractions and businesses upon uploading consumption receipts [2] - The "Limited-Time Package" offers free tickets to popular attractions and special discounts on unique tourism products, creating excitement for public participation [2] Group 3: Special Draws and Incentives - A "New Year Koi" grand prize will be drawn at key times and at the end of the event, including a "Free Meal Package" for 100 lucky tourists who have received hotel benefits, with a maximum value of 5,000 yuan [3] - Tourists who upload consumption receipts totaling over 2,000 yuan will have the chance to win a high-end electric vehicle, further encouraging deeper engagement and spending during their visit [3] Group 4: Long-term Implementation - The initiative will be normalized, expanding participation to include various groups, with specific ticket requirements for the "Welcoming Package" and other benefits available to all tourists [4] - The Hubei Tourism Association is inviting local quality tourism merchants to participate, with clear registration criteria to ensure integrity and authenticity in the program [4] - Merchants interested in joining must apply by March 1, 2026, to be included in the consumption voucher program, enhancing the diversity and effectiveness of the initiative [4]

Core Viewpoint - Lantu Automotive has received approval from the China Securities Regulatory Commission (CSRC) for its overseas listing in Hong Kong, marking a significant step in its listing process [1] Group 1: Listing Process - Lantu Automotive is currently in a silent period and cannot comment on the listing news [4] - The next steps after CSRC approval include Hong Kong Stock Exchange (HKEX) approval, transaction structure implementation, listing, and compliance [4] - The listing plan involves a combination of "equity distribution + absorption merger," where Dongfeng Group will distribute its 79.67% stake in Lantu to all shareholders before Lantu's introduction listing in Hong Kong [4][5] Group 2: Prerequisites for Merger - Several prerequisites must be met before the absorption merger can proceed, including approvals from the National Development and Reform Commission, Ministry of Commerce, and State Administration of Foreign Exchange [5] - Lantu Automotive has already obtained necessary approvals for the merger and the introduction listing from relevant authorities [5][6] Group 3: Financial Performance and Strategic Importance - Lantu Automotive's revenue for 2022, 2023, and 2024 is projected to be 6.052 billion, 12.750 billion, and 19.361 billion respectively, with a compound annual growth rate of 78.9% [7] - In the first seven months of 2025, Lantu's revenue reached 15.781 billion, a year-on-year increase of 90.2% [7] - The company achieved its first quarterly profit in Q4 2024 and reported a net profit of 479 million in the first seven months of 2025, becoming the fifth new energy vehicle company to achieve semi-annual profitability [7] - The listing is expected to broaden financing channels, enhance international presence, improve corporate governance, and drive Dongfeng's internationalization [7]

Core Viewpoint - Lantu Automotive has received approval from the China Securities Regulatory Commission (CSRC) for its overseas listing in Hong Kong, marking a significant step towards its public offering [1][3]. Group 1: Listing Process - Lantu Automotive will list on the Hong Kong Stock Exchange through an introduction method, while Dongfeng Group will simultaneously complete its privatization and delisting [3]. - The transaction involves a "share distribution + absorption merger" model, where Dongfeng Group will distribute 79.67% of its shares in Lantu to all shareholders before Lantu's listing [3]. - The merger agreement's progress is crucial for Lantu's listing, with several preconditions needing to be met, including approvals from government departments and the Hong Kong Stock Exchange [4]. Group 2: Company Performance - Lantu has shown rapid growth over the past year, launching multiple models and achieving a total delivery of 150,200 vehicles, reflecting an 87% year-on-year increase despite not meeting the 200,000 annual sales target [4]. - The company achieved its first quarterly profit in Q4 2024, with profits further expanding to 479 million yuan from January to July 2025 [4]. - If successful in its listing, Lantu will become the first publicly listed new energy vehicle company under a central enterprise and one of the rare profitable new energy vehicle companies before going public [4]. Group 3: Market Reaction - The capital market has shown positive signals ahead of Lantu's listing, with Dongfeng Group's stock price increasing, including a 6.79% rise on January 13 [5].

Group 1 - The core point of the news is that Dongfeng Group is moving forward with the privatization of Dongfeng Group Co., Ltd. and the listing of its subsidiary, Lantu Automotive, in Hong Kong [1][2][4] - Dongfeng Group has received necessary approvals from various government bodies for the privatization process, which is a significant step towards Lantu Automotive's listing [2][3] - Lantu Automotive plans to go public through an introduction listing, while Dongfeng Group will simultaneously complete its privatization and delisting [1][2] Group 2 - In 2025, Lantu Automotive is projected to achieve a total sales volume of 150,200 units, representing a year-on-year increase of 87.44% [1][7] - Lantu Automotive has shown strong financial performance, with a revenue increase to 15.782 billion yuan in the first seven months of 2025, a 90.2% year-on-year growth, and a net profit of 434 million yuan [6] - The company has successfully transitioned from losses in previous years to profitability, marking it as the first unlisted new energy vehicle company to achieve this milestone [6] Group 3 - Lantu Automotive has established a comprehensive product matrix, including models such as Lantu FREE, Lantu Dreamer, Lantu Pursuit, Lantu Zhiyin, and Lantu Taishan, covering SUV, MPV, and sedan categories [1][6] - The company has formed a strategic partnership with Huawei to enhance its technological capabilities, particularly in autonomous driving [8] - Lantu Automotive is on track to become the first high-end new energy brand under a central state-owned enterprise to reach a production scale of 300,000 vehicles [8]

Core Viewpoint - The capital operation of "mother delisting, child listing" by Dongfeng Group and Lantu Motors represents a strategic innovation in the automotive industry, addressing valuation challenges and facilitating Lantu's independent growth in the capital market [1][2]. Group 1: Capital Strategy - Dongfeng Group's "mother delisting, child listing" strategy effectively resolves the long-standing valuation discount faced by the parent company, allowing Lantu Motors to access independent capital channels [2]. - As of July 2025, Dongfeng Group's total market value was only HKD 39.12 billion, with a price-to-book ratio of 0.25, indicating a significant undervaluation compared to its net asset level [2]. - Lantu Motors, as a high-growth brand within the Dongfeng ecosystem, achieved a delivery of 85,700 vehicles in 2024, marking a year-on-year increase of approximately 70% [2]. Group 2: Product Strength and Market Performance - Lantu Motors has established a product line covering price ranges from 200,000 to 500,000 RMB, with a strategic plan of "three categories in three years, five models in five years" [4]. - The company has seen significant success with models like the Lantu Dreamer, which has repeatedly topped monthly sales in the new energy MPV segment, and the Lantu FREE+, which received over 11,000 orders within 15 minutes of its launch [4]. - In October 2025, Lantu delivered 17,218 vehicles, achieving a historical high and a year-on-year growth of 82% from January to October [4]. Group 3: Multi-Win Strategy - The capital operation creates a win-win mechanism for all parties involved, providing small shareholders with a "cash + equity" option that offers a guaranteed return of HKD 6.68 per share while allowing them to benefit from Lantu's growth [6]. - Dongfeng Group can pursue structural reforms more flexibly, enhancing investment efficiency in the new energy and intelligent sectors [6]. - Lantu Motors will benefit from an independent board and governance structure post-listing, enabling quicker decision-making in product development and market strategies [6]. Group 4: Globalization Strategy - Lantu's listing on the Hong Kong stock market is a crucial step in its globalization strategy, having already entered the European market and sold products in 39 countries by July 2025 [8]. - The company aims to establish a presence in 60 countries by 2030, with plans to build 500 sales service outlets and achieve cumulative overseas sales of over 500,000 vehicles [8]. - Lantu plans to expand its domestic retail network to 1,000 locations by 2026, focusing on major urban areas and continuing to grow in international markets [8]. Group 5: Industry Implications - The "mother delisting, child listing" strategy not only addresses the dual challenges of valuation and transformation for traditional automakers but also serves as an innovative model combining state-owned enterprise foundations with market vitality [10]. - The approval for listing on the Hong Kong stock exchange opens up independent capital channels and initiates a new phase of globalization for Lantu Motors [10].

Group 1 - The core viewpoint of the articles highlights that the brand "Xiangjie" under Hongmeng Zhixing has emerged as a significant player in the mid-to-large vehicle and new energy vehicle market, particularly in December [1][4] - In the retail ranking for mid-to-large vehicles, Audi A6L, Mercedes-Benz E-Class, and BMW 5 Series remain the top three models, dominating the list [1] - The Xiangjie S9T has shown remarkable growth, achieving sales of 7,186 units in December, maintaining the fourth position in the sales ranking for three consecutive months, closely following the BMW 5 Series [4][6] Group 2 - The Xiangjie S9T is recognized as the best-selling model in the domestic travel car segment, contributing to the popularization of this niche market [4] - Combined sales of the Xiangjie S9T and Xiangjie S9 reached 8,815 units in December, with the S9T leading the luxury new energy vehicle segment [4][6] - The Xiangjie brand is expanding its sales network with new stores opening, which is expected to further boost sales and market presence [6]