Core Viewpoint - Morgan Stanley has raised the revenue forecast for Dongfeng Group (00489) for the fiscal year 2025 by 15%, driven by recent sales trends and management guidance, with sales volume expected to reach 150,000 units [1] Group 1: Revenue and Sales Forecast - The sales volume estimate has been adjusted to 150,000 units for 2025, reflecting a positive outlook based on management's guidance [1] - The average selling price has increased by 7% according to the report for the first seven months of 2025 [1] Group 2: Management Insights - Key points from the management meeting indicate that most existing models will be upgraded in 2025, supporting the sales target of 150,000 units and maintaining stable average selling prices [1] - Management aims for a year-on-year sales growth of 50% to 80% in 2026, benefiting from the launch of a new six-seat SUV in 2025 and additional SUV/MPV models in 2026 [1] Group 3: Production Capacity and Technology - New production capacity set to be released in the first half of 2026 will assist in achieving the sales targets [1] - Lantu will enhance revenue through external technical support, although there is currently no clear timeline for an IPO [1]

Core Viewpoint - Morgan Stanley has raised the revenue forecast for Dongfeng Group (00489) for the fiscal year 2025 by 15%, driven by recent sales trends and management guidance, with sales volume expected to reach 150,000 units [1] Group 1: Revenue and Sales Forecast - The sales volume estimate has been increased to 150,000 units for 2025 [1] - The average selling price has increased by 7% based on the report for the first seven months of 2025 [1] - The target price has been adjusted from HKD 10.65 to HKD 11.24, maintaining an "Overweight" rating [1] Group 2: Management Insights and Future Plans - Key points from the management meeting indicate that most existing models will be upgraded in 2025, supporting the sales target of 150,000 units and stable average selling prices [1] - Management aims for a year-on-year sales growth of 50% to 80% in 2026, benefiting from the launch of a new six-seat SUV in 2025 and SUV/MPV models in 2026 [1] - New production capacity to be released in the first half of 2026 will assist in achieving sales targets [1] Group 3: External Support and Market Position - Lantu will enhance revenue through external technical support, although there is currently no clear timeline for an IPO [1]

Core Viewpoint - Morgan Stanley has raised Dongfeng Motor Group's revenue forecast for the fiscal year 2025 by 15%, driven by recent sales trends and management guidance, with sales expectations adjusted to 150,000 units [1] Group 1: Revenue and Sales Forecast - The average selling price has increased by 7% based on the report for the first seven months of 2025 [1] - The target price for Dongfeng Motor Group has been increased from HKD 10.65 to HKD 11.24, with a rating of "Overweight" [1] Group 2: Management Insights - Key points from the management meeting indicate that most existing models will be upgraded by 2025, supporting the sales target of 150,000 units and stable average selling prices [1] - Management aims for a year-on-year sales growth of 50% to 80% by 2026, benefiting from the launch of a new six-seat SUV in 2025 and SUV/MPV models in 2026 [1] Group 3: Production Capacity and Technology - New production capacity to be released in the first half of 2026 will assist in achieving sales targets [1] - Lantu will enhance revenue through external technical support, although there is currently no clear timeline for an IPO [1]