On January 16th, 2024, the Changan Automobile Global Partner Conference, with the theme of "Joining Hands and Moving Forward towards a New Paradigm," was successfully held in Chongqing, China. At the conference, Zhu Huarong, chairman of Changan Automobile, summarized the past year's accomplishments in varied areas, announced the latest strategic layout in 2024, and envisioned the future development trend with global partners.
In 2023, Changan Automobile maintained a steady growth momentum. The market size has witnessed gradual expansion, with the company's traditional automotive market share reaching 7.8%, ranking first among independent brands. The annual sales exceeded 2.553 million vehicles, and the sales of domestic brands increased by 11.9% year-on-year; Overseas sales increased by 43.9% year-on-year; New energy vehicles have demonstrated rapid growths, with sales rising by 69.2% year-on-year. In terms of operating revenue, Changan Automobile's operating revenue in 2023 surpassed 24 billion yuan, a year-on-year increase of 12.8%. Besides, the cash flow also increased by 369.6%, setting a historic high. Regarding strategic cooperation, in 2023, Changan Automobile collaborated with advantageous enterprises and actively explored business boundaries. It reached multiple agreements with NIO Automobile and Ganfeng Lithium Industry; cooperated with CATL to establish CATL-Changan Power Battery Company; struck strategic cooperation deals with Huawei, Tencent, China Mobile, and in particular, advanced the process to establish a new joint venture with Huawei which focuses on R&D, production, and sales of automobile intelligent systems.
Furthermore, 2023 was in fact the first year for Changan Automobile to embark on its globalization strategy. In 2023, Changan Automobile officially launched the so-called "All Rivers Run into Sea" plan, focusing on promoting the "1+5+2" global layout. Its products have been exported to 63 countries and regions around the world, and its sales ranked among the top Chinese brands in countries such as Russia, Saudi Arabia, Chile, and Mexico. While putting in real effort to build and optimize the global operating system, Changan Automobile was simultaneously promoting localized operations. It has launched the first overseas new energy base in Thailand, established three local companies and a localized operation team. These moves all suggested that Changan Automobile's global blueprint was gradually translating into tangible results, marking a brand-new chapter.
Ushering into 2024, facing a more competitive market and embracing opportunities and challenges, Changan Automobile maintains a positive outlook, stays determined, and sets feasible corporate objectives. The sales target for 2024 is 2.8 million vehicles, including 2.204 million vehicles sold in the independent sector, 0.75 million vehicles sold in new energy, and 0.48 million vehicles sold overseas; The sales target for 2025 is 3.5-4 million vehicles, including 2.8-3 million vehicles for the independent sector, 1.2 million vehicles for new energy, and 0.7 million vehicles for overseas sales; By 2030, the company's overall sales target is 5 million vehicles, setting to develop into a world-class automotive enterprise.
China boasts necessary foundation and capacity to build world-class automobile brands, generating tremendous opportunities for enterprises to set global strategic layouts. In the future, Changan Automobile will increase inputs into oversea markets, build manufacturing bases in Europe, America and other places, further expand overseas markets, and improve the global production capacity layout. At the same time, via collaboration with global partners, it will encourage innovation, upgrade technology, shift to an intelligent, green and low-carbon paradigm, and eventually grow into a top-tier brand.