Core Viewpoint - The news discusses the denial of rumors regarding the merger of Jiangling Ford into Changan Ford, emphasizing the ongoing strategic adjustments and profitability improvements of Ford in the Chinese market [2][3][6]. Group 1: Company Statements - Jiangling Motors stated that it has no plans for asset restructuring or integration, aiming to maintain competitiveness and enhance operational efficiency with its partners [2][3]. - Ford China reiterated its commitment to building a sustainable sales service network and improving overall profitability through collaboration with joint venture partners and dealers [3][6]. Group 2: Financial Performance - Ford achieved a net profit of approximately $600 million (about 44.09 billion RMB) in the Chinese market for 2024, marking its first profitability in China in seven years [2][7]. - Jiangling Ford's sales reached nearly 50,000 units, while Changan Ford's sales rebounded to 247,000 units in 2024 [7]. Group 3: Historical Context and Partnerships - Jiangling Motors has been collaborating with Ford since 1995, with Ford holding a 32% stake in Jiangling as of 2024, making it the second-largest shareholder [4][5]. - The partnership has evolved over the years, with Jiangling Ford focusing on off-road SUVs and pickup trucks, while Changan Ford specializes in sedans and urban SUVs [5]. Group 4: Market Challenges and Strategic Changes - Ford's sales in China peaked in 2016 but faced significant declines, particularly after a misstep with the three-cylinder engine in 2019, leading to a loss of $572 million in 2022 [6]. - Under the leadership of Wu Shengbo, Ford China has undergone significant reforms, shifting focus to high-margin vehicles and expanding export operations, with 168,000 units expected to be exported in 2024 [6][7]. Group 5: Future Outlook - Ford is working on electrification but has been slower in this transition compared to competitors, with plans to develop new electric models in response to consumer demand for off-road electric vehicles [7].

Core Viewpoint - Jiangling Motors denies rumors of merging Jiangling Ford with Changan Ford, stating no asset restructuring plans are in place [2] Group 1: Company Operations - Jiangling Motors has been collaborating with Ford since 1995, initially producing light passenger vehicles, and has since transitioned to passenger vehicles with the introduction of SUVs and MPVs [2] - Jiangling Ford focuses on the SUV and pickup market, while Changan Ford targets traditional passenger vehicles, creating a complementary product offering for Ford in China [3] Group 2: Market Performance - Ford's sales in China have significantly declined from nearly 1.27 million units in 2016 to 467,000 units in 2023, a drop of 63% [3] - Despite Jiangling Ford's denial of a merger, Ford is undergoing major adjustments in China, including focusing on core businesses and accelerating electrification [3][4] - In 2022, Jiangling Ford's passenger vehicle sales were 48,000 units, projected to decline to 39,000 units in 2023 and 35,000 units in 2024 [5] Group 3: Financial Performance - Ford reported a profit of approximately $600 million (around 4.3 billion RMB) in China last year, marking its first profit in seven years [4] - Changan Ford's sales increased by 5.97% year-on-year last year, but faced a 16.43% decline in the first five months of this year [5]