距离升级新央企仅134天，中国长安汽车（000625）集团再迎里程碑事件。12月10日，随着一辆阿维塔 12四激光版在重庆阿维塔数智工厂缓缓驶下生产线，中国长安正式迎来第3000万辆中国品牌汽车下线的 历史性时刻。 恰逢"十四五"收官在即，"十五五"新篇待启的关键节点，这座西部汽车重镇诞生的里程碑，不仅标志着 中国长安成为最快达成这一成就的汽车企业，更为中国从"汽车大国"迈向"汽车强国"的征程增添了时代 注脚。 "从1984年长安第一辆汽车下线，第一个1000万辆用了30年，第二个1000万辆缩至7年，如今第三个1000 万辆仅用4年半，中国长安一直在自主创新的道路上上下求索。"中国长安汽车党委书记、董事长朱华荣 表示，立足新起点，中国长安力争到2030年实现产销500万辆，其中新能源占比超60%，海外占比超 30%。 三次创业铸根基，长安将安全刻进品牌基因 中国长安达成中国品牌汽车3000万辆的成就，有力印证坚持自主创新与关键核心技术自研，是我国汽车 产业高质量发展的坚定路径。这3000万辆，不只是中国长安汽车向上发展中的新里程（002219）碑，更 是中国工业提质增效、迈向高质量发展的生动诠释，向世界展示 ...

2025年12月10日，随着一辆阿维塔12四激光版在重庆阿维塔数智工厂驶下生产线，中国长安正式迎来了第3000万辆中国品牌汽车的下线。 过去的41年里面，长安汽车历经3次创业，从1984年开启"军转民"的第一次创业，2003年开启"商转乘"的第二次创业，2017年朝着高端化、智能化、绿色化 方向进发，发布第三次创业——创新创业计划，明确向智能低碳出行科技公司转型的发展目标。 2014年，长安汽车实现首个1000万辆，用时30年。2021年，突破第二个1000万辆，用时7年，为自主品牌崛起写下了坚实注脚；2025年，完成跨越第三个 1000万辆仅用了4年半时间，同时也成为最快达成中国品牌3000万辆的汽车企业。 今年9月，肩负"新央企"使命，中国长安汽车发布"新长安·新安全——天枢智能"品牌，把安全从物理防护，延伸到行车、健康、心理、隐私全维度。该企业 坚持将每年营业收入的5%用于投入研发，已构建起"六国十地"全球研发布局，拥有来自全球31个国家和地区2.4万余人的技术研发团队，并在16大领域，建 成覆盖三电、智驾、NVH等领域的200余个实验室。 中国长安汽车还构建了五大品牌矩阵。其中，阿维塔定位"原创、智能 ...

Group 1: Business Performance - In the first three quarters of 2025, Changan Automobile achieved a total sales volume of 2.066 million vehicles, representing an 8.5% year-on-year increase [1] - New energy vehicle sales reached 724,000 units, showing a significant growth of 59.7% compared to the previous year, outperforming the industry average [1] - Overseas exports totaled 465,000 vehicles, marking a 10.7% increase year-on-year [1] - The company reported a revenue of 42.236 billion CNY in Q3, a year-on-year growth of 23.36%, and a total revenue of 114.927 billion CNY for the first three quarters, reflecting a 3.6% increase [1] - The gross profit margin improved by 0.6 percentage points year-on-year, with a quarterly gross margin increase of 0.49 percentage points [1] Group 2: Future Industry Planning - Changan plans to develop humanoid robots in collaboration with leading partners, focusing on core technologies such as "brain," "energy," and "drive" [2] - The company aims to launch a flying car product by 2030, targeting commercial operation [2] - Exploration of unmanned commercial vehicles, including cleaning robots and agricultural machinery, is underway [2] Group 3: Strategic Plans - Changan is accelerating its transformation into a smart low-carbon mobility technology company, implementing three major strategic plans [2] - The "Shangri-La" plan for new energy aims to create three global smart energy brands: Avita, Deep Blue, and Changan Qiyuan, with a total of 724,000 new energy vehicles sold from January to September 2025 [2] - Significant investments in R&D amounting to 61 billion CNY over the past five years, with a global R&D team of over 24,000 people [3] Group 4: Product Launches - Upcoming products include the Changan Qiyuan A06, featuring advanced driving assistance and a spacious design, set to launch soon [4] - The Deep Blue L06 will be the first to feature a 3nm automotive-grade chip and advanced driving assistance systems [4] - The Avita 12 will be available in both pure electric and range-extended versions, catering to diverse user needs [4] Group 5: Strategic Partnerships - A strategic cooperation agreement was signed with JD Group on October 15, 2025, to explore smart logistics vehicles and intelligent operation systems [4] - The partnership aims to enhance logistics efficiency through customized smart logistics vehicles, leveraging Changan's vehicle capabilities and JD's logistics technology [4] - Future collaborations will include joint marketing efforts and exploring new sales models for commercial vehicles [4]

Group 1: Strategic Plans and Innovations - Changan Automobile is transforming into a smart low-carbon travel technology company, actively promoting three major strategic plans [1][2] - The "Shangri-La" plan for new energy aims for global sales of 724,000 vehicles from January to September 2025, a year-on-year increase of 59.7% [2] - Significant investments in R&D amounting to 61 billion CNY over the past five years, with a global R&D team of over 24,000 people and more than 20,000 patents [2] Group 2: Product Development and Launches - Upcoming products include the Changan Q07, which has achieved stable monthly sales of over 10,000 units, and the A06 model featuring advanced driving assistance and a spacious design [5][6] - The new Deep Blue L06 will be the first to feature a 3-nanometer automotive-grade chip and magnetic fluid suspension technology, enhancing driving experience [6] - The Avita 12 will offer both pure electric and extended-range options, set to launch on October 28, 2025 [6] Group 3: Strategic Partnerships - A strategic cooperation agreement was signed with JD Group to explore smart logistics vehicles and develop new energy autonomous models [3][4] - The partnership aims to enhance logistics efficiency through customized smart logistics vehicles and collaborative marketing efforts [4] Group 4: Global Expansion and Market Performance - Changan's overseas sales reached 465,000 units from January to September 2025, reflecting a year-on-year growth of 10.7% [2] - The company is actively participating in the development of international standards, having led or participated in the formulation of 229 standards [2]

Core Viewpoint - Changan Automobile reported a revenue increase of 23.36% in Q3, but a decline in net profit for the first three quarters, indicating mixed financial performance amid rising sales costs and strategic investments [1][2]. Financial Performance - In Q3, Changan Automobile achieved a revenue of CNY 42.24 billion, up 23.36% year-on-year, and a net profit of CNY 764 million, up 2.13% year-on-year [1][2]. - For the first three quarters, total revenue reached CNY 114.93 billion, a 3.58% increase, while net profit was CNY 30.55 billion, down 14.66% year-on-year [1][2]. - The net cash flow from operating activities showed a significant decline of 64.61% for the first three quarters [2]. Sales and Market Position - Changan Automobile's sales volume for the first nine months was 2.07 million units, reflecting an 8.46% increase, with a notable 59.72% growth in new energy vehicle sales [4]. - The company reported a 56.25% increase in sales expenses, attributed to higher service fees from increased new energy sales and promotional costs for new products [2]. Strategic Investments - Changan Automobile plans to invest CNY 250 million (24.95% stake) in a private equity fund focused on smart projects in the automotive industry and new energy initiatives [5]. - A strategic cooperation agreement was signed with JD Group to enhance collaboration across various sectors, including retail and logistics [5]. Balance Sheet and Cash Flow - As of September 30, 2025, accounts payable decreased by 38.28%, while accounts receivable increased by 112.32%, indicating a shift in financial management strategies [3]. - Government subsidies accounted for CNY 508 million in the first three quarters, with CNY 48 million recognized in Q3 [3][4]. Market Performance - As of October 24, Changan Automobile's stock price rose by 2.75% to CNY 12.72 per share, with a total market capitalization of CNY 126.11 billion [6][7].

Core Viewpoint - Changan Automobile has implemented a payment scheme that ensures a 60-day payment term for suppliers, aligning with industry standards and promoting high-quality development in the automotive sector [2] Group 1: Company Actions - As of now, Changan Automobile has fully realized its commitment to a 60-day payment term through an innovative payment scheme based on delivery dates and a ten-day collection period [2] - The company has developed a standardized and efficient payment process for supplier payments [2] - On June 10, Changan Automobile announced a unified payment term of 60 days for suppliers across its brands, including Changan Qiyuan, Changan Kaicheng, Deep Blue Automobile, and Avita [2] Group 2: Industry Context - The China Association of Automobile Manufacturers released a proposal for supplier payment norms, which was positively acknowledged by the Ministry of Industry and Information Technology [2] - The Ministry of Industry and Information Technology and the State-owned Assets Supervision and Administration Commission have made significant deployments to ensure the stability of the industrial supply chain and promote high-quality development in the automotive industry [2] - Changan Automobile's actions reflect a commitment to social responsibility and support for small and medium-sized enterprises, fostering a conducive business environment and promoting collaborative interactions within the supply chain [2]

Group 1 - Changan Automobile announced a plan for its executives and board members to increase their holdings in the company's A-shares, with a total investment of no less than 5.7 million yuan over the next six months [1] - This is the first instance of a central enterprise group’s executives collectively increasing their holdings in a subsidiary listed company, breaking the previous norm of only listed company executives participating [2] - The company aims to launch 35 new intelligent electric vehicle products over the next three years, with a focus on new energy, intelligence, and globalization as its strategic priorities [2][3] Group 2 - Changan Automobile's cumulative sales from January to July 2025 reached approximately 1.566 million units, representing a year-on-year increase of 4.1%, with overseas sales totaling about 349,000 units [2] - The company reported a significant increase in new energy vehicle sales, with a total of 531,700 units sold year-to-date, marking a year-on-year growth of 52.34% [2] - Changan Automobile's parent company, China Changan Automobile Group, achieved a total revenue of 146.9 billion yuan in the first half of the year, with production and sales reaching a near eight-year high of 1.355 million units [2]

Group 1 - Changan Automobile announced the appointment of Lan Xiangwen as Vice Chairman of the Board and the recommendation of Dong Chenrui as President of Changan Kaicheng, responsible for business and team management [2] - Dong Chenrui has 23 years of experience in the commercial vehicle sector and has held senior management positions in global companies such as Iveco, MAN, Renault, and Volvo, with insights into the Chinese market and Western management experience [2] - Changan Kaicheng has been a key player in the commercial vehicle sector for 41 years and is an important pillar of Changan Automobile's "commercial and passenger vehicle" strategy, with a product range that includes light trucks, pickups, and commercial MPVs [2] Group 2 - Changan Kaicheng is advancing Changan Automobile's third entrepreneurial plan, focusing on smart logistics and electric pickup trucks, with plans to release six new models in the next three years and to stop producing fuel vehicles by 2025 [3] - The sales target for Changan Kaicheng is to reach 600,000 units by 2030, with an expected 300,000 units in overseas sales, and a projected total sales of 221,000 units in 2024, representing a 16.5% year-on-year increase [3] - The commercial vehicle industry is rapidly transitioning towards electrification and intelligence, with increased competition from various automakers entering the commercial vehicle market [3] Group 3 - Changan Kaicheng is exploring deeper capital processes to accelerate its strategic transformation, with plans for financing and potential listing developments [4] - The company announced the completion of over 2 billion yuan in Series A financing and is initiating Series B financing [4] - Changan Kaicheng plans to develop unmanned logistics delivery vehicles based on Changan's intelligent driving technology, with small-scale production expected in 2026 [4]

Core Insights - Changan Automobile's new energy vehicle segment achieved significant growth in July, with monthly sales surpassing 80,000 units, marking a year-on-year increase of 74.05% [2] - The establishment of China Changan Automobile Group as the third state-owned automobile enterprise in China is a major event in the automotive industry [2] - The company aims to reach a production and sales target of 5 million vehicles by 2030, with new energy vehicles accounting for over 60% of sales and overseas sales exceeding 30% [2] Production and Sales Performance - In July 2025, Changan Automobile produced 195,900 vehicles, a year-on-year increase of 34.84%, and sold 210,600 vehicles, up 23.43% year-on-year [2] - From January to July 2025, the cumulative production reached 1,401,300 vehicles, a 1.59% increase year-on-year, while cumulative sales were 1,565,900 vehicles, reflecting a 4.07% year-on-year growth [2] New Energy Vehicle Growth - In July, the production of new energy vehicles reached 78,700 units, representing a year-on-year increase of 91.87% [2] - The cumulative sales of new energy vehicles in the first half of the year reached 452,000 units, showing a year-on-year growth of 49.1% [3] Strategic Goals - The strategic plan includes building a globally competitive automotive group with independent core technologies [2] - The company plans to create an open innovation ecosystem through deep internal collaboration and external industry chain development [3]

Core Insights - Changan Automobile's July sales report shows significant growth in both production and sales, particularly in the new energy vehicle (NEV) segment [1][2] - The establishment of China Changan Automobile Group marks a significant milestone as it becomes the third state-owned automobile enterprise in China [1] - The company's strategic goal is to achieve a production and sales scale of 5 million vehicles by 2030, with NEV sales accounting for over 60% [1] Group 1: Production and Sales Performance - In July 2025, Changan Automobile produced 195,900 vehicles, a year-on-year increase of 34.84%, and sold 210,600 vehicles, up 23.43% [1] - Cumulatively, from January to July 2025, the total production reached 1,401,300 vehicles, a 1.59% increase year-on-year, while total sales were 1,565,900 vehicles, reflecting a 4.07% growth [1] - The NEV segment saw a remarkable performance in July, with production reaching 78,700 units, a year-on-year increase of 91.87%, and sales surpassing 80,000 units, up 74.05% [1] Group 2: Strategic Developments - Changan Automobile held an investor briefing on July 30, where executives projected that the total production and sales of Changan's self-owned brands would exceed 30 million units this year [2] - The company aims to build an open innovation ecosystem through deep internal collaboration and external industry chain development [2] - In the first half of the year, Changan's cumulative sales reached 1,355,000 units, marking the highest figure in nearly eight years, with NEV sales at 452,000 units, a 49.1% year-on-year increase [2]