Group 1 - The company has recently launched several new products, including the fourth-generation Yidong, fourth-generation CS55PLUS, Changan Qiyuan A06, and the all-new Q05 [1] - The company aims to continuously develop new technologies to ensure user safety and accelerate its entry into emerging industries such as humanoid robots and flying cars [1] - The company targets to release its first manned flying car product by 2026 and achieve mass production and delivery by 2028, focusing on market expansion and commercialization in low-altitude tourism, road rescue, high-rise firefighting, and energy operations [1] Group 2 - As of now, the company has fully implemented a payment scheme based on "payment calculated from the delivery date + ten days collection," fulfilling its commitment to a 60-day payment term [1] - The company has developed a standardized and efficient payment process for supplier payments [1]

Core Insights - Changan Automobile is actively engaging with various investment institutions to discuss its new product launches, emerging industry plans, intelligent branding, overseas market strategies, and supplier payment practices [1] Group 1: New Product Launches - Changan has recently launched multiple new products, including the fourth-generation Yidong on September 7 and the upcoming fourth-generation CS55PLUS [2] - The Changan Qiyuan brand showcased two new models, A06 and Q05, at the Fifth Technology Ecology Conference, with Q05 featuring a 506 km electric range and advanced technologies [2] - Deep Blue Automotive introduced the new Deep Blue S07 for pre-sale and launched the S09 super long-range version, along with the L06 model featuring a 3nm automotive-grade chip [2] Group 2: Emerging Industry Layout - Changan is accelerating its entry into emerging industries such as humanoid robots and flying cars, aiming to release its first manned flying car by 2026 and achieve mass production by 2028 [3] - The company is also exploring applications in the unmanned commercial sector, including autonomous cleaning vehicles and agricultural machinery [3] Group 3: Intelligent Mobility - The "Tianshu Intelligent Driving" initiative aims to provide users with a safe and intelligent travel experience, utilizing core technologies in driving assistance, cabin, and chassis [4] - Key features include real-time risk recognition and adaptive responses through data accumulation, as well as advanced cabin systems integrating AI technology [4] Group 4: Overseas Market Expansion - Changan is implementing a global strategy called "Haina Baichuan," with an overseas production capacity target of 460,000 units by year-end [5] - The company plans to expand into five major regional markets, including Southeast Asia, Europe, Central and South America, the Middle East and Africa, and Eurasia, with goals to enter the world's top 10 brands in sales [5] Group 5: Supplier Payment Practices - Changan has committed to a 60-day payment term for suppliers, aligning with the initiative to standardize supplier payment practices in the automotive industry [6]

Group 1 - The company announced the release of several new products, including the fourth-generation Yidong, fourth-generation CS55PLUS, Changan Qiyuan A06, and the all-new Q05 [1] - The company plans to continue developing new technologies, focusing on user safety, and accelerating its entry into emerging industries such as humanoid robots and flying cars [1] - Changan Automobile has implemented an innovative payment scheme, "payment calculated from the delivery date + ten days collection," and has fulfilled its commitment to a 60-day payment term while establishing an efficient payment process for suppliers [1]

Product Launches - Changan Automobile has recently launched multiple new products, including the fourth-generation Yidong and CS55PLUS, with the latter expected to officially launch within the year [2] - The A06 and Q05 models were showcased at the fifth Technology Ecology Conference, with the A06 featuring advanced driving assistance and the Q05 offering a range of 506 km on a single charge [2][3] - The new Deep Blue S07 was unveiled on September 8, with pre-sales starting, while the S09 model has officially launched [3] - The 2026 Avita 07 model has received over 10,000 pre-orders within 24 hours of its announcement [3] Future Industry Planning - Changan plans to develop humanoid robots and flying cars, aiming to release its first manned flying car by 2026 and achieve mass production by 2028 [3] - The company is exploring unmanned commercial vehicles, including cleaning robots and agricultural machinery [3] Intelligent Brand Development - The "Tianshu Smart Driving" brand aims to provide safe and intelligent travel solutions, utilizing advanced technology for real-time risk assessment and driving assistance [3][4] - The Tianshu cockpit features AI integration for enhanced user interaction, sound systems, and health monitoring [4] Global Market Expansion - Changan is accelerating its global "Sea of Stars" plan, with over 28 brand launch events held in Europe and the Middle East Africa in the past year [6] - The company has established over 14,000 global channel outlets and plans to increase overseas production capacity to 460,000 vehicles by the end of the year [7] - Specific regional goals include entering the top 10 global brands in Southeast Asia and South America by 2027 and 2026, respectively [7] Supplier Payment Commitment - Changan has committed to a 60-day payment term for suppliers, supporting the efficient flow of funds for small and medium enterprises [6][8] - The company has implemented a standardized payment process to ensure compliance with this commitment [8]

Core Viewpoint - Changan Automobile is actively engaging in product launches, sales growth, and strategic planning for future industries and global expansion, showcasing a strong commitment to innovation and market penetration [1][2][3][4][5][6]. Product Launches - Changan has recently intensified its product launch schedule, with the fourth-generation Yidong officially launched on September 7 and the fourth-generation CS55PLUS expected to be released by the end of the year [2]. - The Changan Qiyuan brand introduced two new models, A06 and Q05, at the Fifth Technology Ecology Conference, with the Q05 featuring a 506 km electric range and advanced technologies [2]. Sales Performance - In August 2025, Changan sold 234,000 vehicles, marking a 25% year-on-year increase, with total sales from January to August reaching 1.8 million units, up 6.4% [3]. - The company's new energy vehicle sales for the same period totaled 621,000 units, reflecting a significant 55.9% increase year-on-year [3]. Intelligent Driving Solutions - Changan's "Tianshu Intelligent Driving" brand aims to provide extreme safety and intelligent travel solutions, utilizing advanced technologies in driving assistance, cabin experience, and chassis systems [4]. Future Industry Layout - Changan is exploring new technologies in humanoid robots and unmanned commercial vehicles, with plans to mass-produce humanoid automotive robots by 2028 [5]. Global Expansion Strategy - Changan is accelerating its global "Haina Baichuan" plan, having established a presence in over 100 countries and planning to open 20 overseas factories, with a target production capacity of 460,000 units by the end of the year [6].

Product Launches - The company has recently launched multiple new products, including the fourth-generation Yidong and CS55PLUS, with the latter expected to officially launch by the end of the year [1] - The Changan Q05 and A06 models were showcased at the fifth Technology Ecology Conference, featuring advanced technologies such as 3C fast charging and a pure electric range of 506 km [1] - The Deep Blue S07 and S09 models were also introduced, with the S07 now available for pre-sale and the S09 officially launched [1][2] Sales Performance - In August 2025, the company achieved sales of 234,000 vehicles, a year-on-year increase of 25%, with cumulative sales from January to August reaching 1.8 million vehicles, up 6.4% [3] - Cumulative sales of self-owned brands from January to August reached 1.525 million vehicles, a growth of 8.0%, while new energy vehicles saw a significant increase of 55.9% with 621,000 units sold [3] - The Changan Q07 model sold 13,698 units in August, maintaining a monthly sales volume of over 10,000 units [3] Intelligent Driving Solutions - The company introduced the "Tianshu Intelligent Driving" brand, focusing on providing safe and intelligent travel solutions [3] - Key technologies include the Tianshu driving assistance system, which utilizes extensive data to enhance predictive driving capabilities [3] - The Tianshu cockpit aims to create a more humanized and intelligent environment, integrating AI technology for a seamless user experience [5] Future Industry Planning - The company plans to explore new technologies in humanoid robots and flying cars, with a goal to mass-produce humanoid automotive robots by 2028 and launch the first manned flying car by 2026 [7][8] - In the unmanned commercial sector, the company is looking into applications for cleaning vehicles, agricultural machinery, and exoskeletons [8] Global Expansion Strategy - The company is accelerating its global "Sea of Stars" plan, aiming for localized production and brand operations in five major overseas regions [8][9] - The company has held 28 brand launch events in Europe and the Middle East and has established a presence in over 100 countries with more than 14,000 global channel outlets [8] - By the end of the year, the company expects to have a total overseas production capacity of 460,000 vehicles, with plans for 20 overseas factories [9]

Core Viewpoint - Changan Automobile emphasizes user choice between fuel and electric vehicles, with the launch of the fourth-generation Yidong showcasing their commitment to both segments [1][5]. Group 1: Product Launch and Features - The fourth-generation Yidong was officially launched on September 7, with three models priced between 87,900 to 99,900 yuan, and a promotional price starting at 72,900 yuan [3]. - The vehicle features the latest Tian Shu intelligent system, aiming to enhance the intelligence, fuel efficiency, and reliability of fuel vehicles [3][5]. - Yidong has sold over 1.9 million units globally since its debut in 2012, maintaining a strong presence in the A-segment market [3]. Group 2: Market Position and Strategy - Despite the growing dominance of electric vehicles, Changan believes that 35% of users will continue to prefer fuel vehicles, indicating a balanced market approach [5]. - The company aims to provide diverse power options to users, addressing practical concerns such as charging infrastructure and range anxiety [5]. - The fourth-generation Yidong is designed to be a global benchmark for intelligent family sedans, featuring advanced design and safety elements [5][9]. Group 3: Technical Specifications - The fourth-generation Yidong has dimensions of 4785mm in length, 1840mm in width, and 1450mm in height, with a wheelbase of 2765mm, providing ample interior space [7]. - It is equipped with a 500Bar ultra-high-pressure direct injection engine, delivering a peak torque of 310 Nm and a maximum power of 141 kW, capable of achieving 1000 km on a single tank [9]. - Safety features include a high-strength body structure, six airbags, and a 540° panoramic camera system, ensuring comprehensive protection for occupants [9].

Group 1: Central Enterprise Restructuring - The establishment of the new Changan Automobile Group marks a new phase in the reform of China's automotive industry, integrating 117 subsidiaries with a registered capital of 20 billion yuan and total assets of 308.7 billion yuan [1] - The strategic goal is to achieve a production and sales scale of 5 million vehicles by 2030, with over 60% of sales from new energy vehicles and over 30% from overseas markets [1] - In the first half of the year, Changan Automobile sold 1.566 million vehicles, a year-on-year increase of 4.1%, with new energy vehicle sales reaching 532,000 units, up 52.3% [1][4] Group 2: Technological Independence - Changan's R&D investment for 2024 is projected at 6.505 billion yuan, an increase of 8.79% year-on-year, with 714 patents authorized [3] - The "Shangri-La" strategy focuses on multiple powertrain technologies, including pure electric, HEV, PHEV, REV, and ICV, with significant advancements in hybrid technology [3] - The "Beidou Tianshu" plan aims to enhance smart vehicle capabilities, with a software team of 5,000-6,000 people and partnerships with leading tech companies [5] Group 3: Global Expansion - Changan's international strategy has shifted from market tactics to a core group strategy, with a focus on localizing operations in overseas markets [7] - The company plans to establish 20 overseas factories, with a production base in Thailand and a goal of 100,000 units sold overseas by 2025 [7] - In the first seven months of 2025, Changan's overseas sales reached 299,000 units, a year-on-year increase of 5.1% [8] Group 4: Conclusion and Future Outlook - Changan Automobile is seen as a successful model for state-owned enterprise transformation, aiming to become a world-class intelligent low-carbon mobility technology company [9] - The leadership is focused on adapting to market changes and understanding consumer needs, with a diverse product matrix covering various demographics [9] - The company plans to invest 200 billion yuan in R&D over the next decade, with a goal of launching over 50 new energy vehicles within five years [6][10]

Core Insights - The launch of the fourth-generation Yidong marks a significant milestone for Changan Automobile, with total sales of the Yidong series surpassing 1.9 million units, indicating strong market acceptance and brand loyalty [1][3][17] - The new model aims to set a global benchmark for family sedans, focusing on intelligent features, energy efficiency, and global expansion [1][17] Product Development - The first-generation Yidong was launched in March 2012, and over 13 years, it has undergone extensive testing, achieving 4 million kilometers, equivalent to circling the Earth 100 times, which has established its reputation for quality [3] - The fourth-generation Yidong incorporates 41 years of technological expertise from Changan, enhancing aspects such as design, cabin comfort, power, safety, and overall user experience [3][17] Design and Aesthetics - The fourth-generation Yidong features a unique design that breaks traditional family sedan norms, including a "vertical and horizontal" design DNA and an innovative sports tail wing, making it visually appealing [4][6] - It offers a sporty electric tail wing option, enhancing both warmth and individuality for the driver [6] Performance and Efficiency - The vehicle is equipped with the new Blue Whale power system, featuring a maximum power of 141 kW and peak torque of 310 N·m, while achieving fuel efficiency that allows for 1,000 kilometers on a single tank, with a cost of just 0.5 yuan per kilometer [8] - The car intelligently adjusts torque output based on various driving conditions, ensuring a smooth and comfortable ride [8] Intelligent Features - The fourth-generation Yidong includes the "Tianshu Intelligent Cockpit," which integrates advanced voice interaction and connectivity features, enhancing the user experience [10] - It supports multiple connectivity options and features a dual-screen setup, allowing seamless integration with mobile devices [10] Safety and Comfort - The vehicle is designed with a high-strength safety structure, featuring a unique "Ark Cage" and a high steel content of 77.2%, ensuring passenger safety [13][15] - With dimensions of 4785mm in length, 1840mm in width, and 1440mm in height, along with a wheelbase of 2765mm, it offers spacious rear seating and a comfortable ride experience [15] Market Positioning and Future Goals - The fourth-generation Yidong is positioned to meet diverse family needs and aims to redefine the market for economical sedans, focusing on intelligent features and energy efficiency [17] - Changan aims to achieve sales of 3 million vehicles by 2025 and 5 million by 2030, with the fourth-generation Yidong playing a crucial role in this growth strategy [18]