CHANGAN AUTOMOBILE-B(000625)2023-10-31 10:28Sales Performance - In the first three quarters of 2023, Changan Automobile sold 1.87 million vehicles, a year-on-year increase of 11.2%, outperforming the industry by 3 percentage points [1][2]. - The company achieved operating revenue of CNY 108.206 billion, representing a year-on-year growth of 26.8% [1][2]. - The net profit attributable to shareholders reached CNY 9.882 billion, with a year-on-year increase of 43.2% [1]. Strategic Initiatives - Changan Automobile is committed to the "New Automobile New Ecology" strategy, focusing on the development of smart vehicles and services to meet user demands in the digital age [2]. - The company has set an annual target of producing and selling 2.53 million vehicles in 2023, which is a year-on-year growth of 7.8% [2]. - The launch of the Avita 12 electric vehicle is imminent, supporting the rapid increase in electric vehicle sales [2]. Brand Positioning - Changan has two differentiated brands: Changan Qiyuan, targeting family-oriented consumers, and Deep Blue, aimed at tech-savvy younger demographics [4][5]. - The Deep Blue SL03 and S7 models have achieved cumulative deliveries of over 80,000 and 30,000 units, respectively, setting new records for domestic brands [3][5]. Financial Outlook - The company reported a significant increase in non-recurring profit in Q3 2023, contributing to a positive outlook for Q4 sales [2][3]. - Changan holds CNY 60 billion in cash, raising questions about potential stock buybacks or shareholding increases to enhance market value [4][6]. Investor Relations - As of October 31, 2023, the total number of ordinary shareholders was 547,561 [6]. - The company emphasizes the importance of maintaining investor confidence amidst market fluctuations influenced by macro policies and industry cycles [3][4].