关怀每一个人

关爱每一辆车

Care for every person

Care for every vehicle

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Company Profile公司简介

Dongfeng Motor Group Company Limited (hereinafter referred to as “Dongfeng Motor Group”) was listed on the Stock Exchange on 7 December 2005. Dongfeng Motor Group has a full range of commercial vehicles, passenger cars, military vehicles, new energy vehicles, key automotive components and parts, automotive equipment, travel services, and vehicle finance. The domestic business is mainly located in more than 20 cities in China, including Wuhan, Shiyan, Xiangyang, Guangzhou, Liuzhou, Zhengzhou, Chengdu, Chongqing and Dalian. Dongfeng Motor Group has built an overseas research and development base in Sweden, has acquired a stake in Stellantis Group, and has developed global cooperation and synergy with more than 10 international vehicle and parts enterprises, and its products are sold to more than 80 countries worldwide. In 2022, the total vehicle sales of the Group reached 2.4645 million units, ranking third among domestic automobile manufacturers, with a market share of 9.17%. As of December 31, 2022, Dongfeng Motor Group has a vehicle production capacity of approximately 3.850 million, occupying a leading position in the industry.

Dongfeng Motor Group is a leading commercial vehicle manufacturer with complete commercial vehicle industry chain layout and excellent product characteristics. The Company carries out commercial vehicle businesses through its holding subsidiaries, such as Dongfeng Commercial Vehicle Co., Ltd., Dongfeng Special Commercial Vehicle Co., Ltd. and Dongfeng Liuzhou Motor Co., Ltd.. Dongfeng Motor Group’s passenger vehicle product line is complete, and has long been a leader in the domestic automobile industry with a wide range of market influence and high brand awareness. It mainly carries out passenger vehicle business through its branch Dongfeng Passenger Vehicle Company, holding subsidiary Dongfeng Liuzhou Motor Co., Ltd., joint ventures Dongfeng Motor Co., Ltd., Dongfeng Honda Co., Ltd. Dongfeng Motor Group has completed the strategic layout of new energy vehicle brands, platforms, products, key components and core technology resources in the field of automatic new energy vehicles, forming a brand layout covering the luxury (M HERO brand), high-end (VOYAH brand), mid- range (AEOLUS band), economical (Nano Box) and various sectors.

Dongfeng Motor Group’s auto finance business has a good development momentum in recent years. It has realized the online operation of the whole business process, and its supporting role for the vehicle business is increasingly strengthened. It mainly carries out retail financial business, dealer inventory financing business, corporate financial business and aftermarket service through its holding subsidiaries Dongfeng Auto Finance Co.,Ltd, Dongfeng Motor Finance Co., Ltd. Dongfeng Nissan Auto Finance Co., Ltd., Dongfeng Nissan Financial Leasing Co., Ltd.

In recent years, the Group has been creating a “source of original technology” around new energy power systems and smart vehicles, further improve in-depth technological innovation that enables to make new breakthrough in the fields of automobile chips, battery and software engineering, and enhance the capability of industry chains that is independent, safe and controllable. The Group will promote the rapid development of the independent business and the upward of the Dongfeng brand.

DOONGFENG MOTOR GROUP CO., LTD.
  • Voyah Automobile Technology Co., Ltd.
  • Mengshi Automobile Technology Co., Ltd.
  • Dongfeng Passenger Vehicle Company
  • Dongfeng Commercial Vehicle Co., Ltd.
  • Dongfeng Liuzhou Motor Co., Ltd.
  • Dongfeng Special Commercial Vehicle Co., Ltd.
  • Dongfeng Automobile Co., Ltd.
  • Dongfeng Motor Co., Ltd. (DFL)
  • Dongfeng Peugeot Citroën Automobile Co., Ltd.
  • Dongfeng Honda Automobile Co., Ltd.
  • Dongfeng Changxing Technology Co., Ltd
  • Zhixin Technology Co., Ltd.
  • eGT New Energy Automotive Co., Ltd.
  • Dongchuang Zilian (Wuhan) New Energy Technology Co. Ltd.
  • Dongfeng Motor Finance Co., Ltd.
  • Dongfeng Honda Engine Co., Ltd.
  • Dongfeng Honda Auto Parts Co., Ltd.
  • China Dongfeng Motor Industry Imp. & Exp. Co., Ltd.
  • Dongfeng Research & Development Center (Branch)
  • Dongfeng Zhuolian Automobile Service Co., Ltd.
  • Other subsidiaries
Information联系我们
  • REGISTERED NAME

    Dongfeng Motor Group Company Limited

  • PRINCIPAL PLACE OF BUSINESS IN THE PRC

    special No. 1 Dongfeng Road Wuhan Economic and Technology Development Zone
    Wuhan,Hubei 430056 PRC

  • REGISTERED ADDRESS

    special No. 1 Dongfeng Road Wuhan Economic and Technology Development Zone
    Wuhan,Hubei 430056 PRC

  • PRINCIPAL PLACE OF BUSINESS IN HONG KONG

    Level 54, Hopewell Centre, 183 Queen’s Road East,Hong Kong

  • H SHARE STOCK CODE

    000489

  • EMAIL

    DFGIR@DFMC.COM.CN

  • COMPANY WEBSITE

    www.dfmg.com.cn

  • CONTACT NUMBER

    027-84285002   027-84285439

  • Vision

    东风愿景

    A centenary Dongfeng with sustainable development

  • Vision

    东风愿景

    An internationalized Dongfeng with global competitiveness

  • Vision

    东风愿景

    An Innovative Dongfeng capable of independent development.

  • Operating

    经营理念

    Care for every person

  • Operating

    经营理念

    Care for every vehicle

Chairman's Statement董事长致辞

Dear Shareholders,

On behalf of the Board of Directors, I hereby present the 2023 annual report of Dongfeng Motor Groupfor your review.

In 2023, facing the complex situation of accelerated market demand differentiation, deepening competition pattern and increasing challenges, the Group adhered to the main line of transformation and development, and made every effort to promote the transformation from relying on joint ventures to equal emphasis on both joint ventures and independent development, and from focus on fuel-powered vehicles to a balance between energy-saving vehicles and new energy vehicles. The progress met the expectations of transformation and further strengthened the foundation for corporate development.

In 2023, approximately 2,088,200 units of vehicles were sold in this period, representing year-on-year decrease of 15.3%; sales of independent brand passenger cars reached 347,400 units, a decrease of 30.2% year-on-year; sales of commercial vehicles reached approximately 343,400 units, an increase of 10.3% year-on-year. The Group's sales of new energy vehicles in this period were approximately 348,000 units, accounting for an increase of 2.7 percentage points in the Group's sales, of which, sales of high-end brand VOYAH exceeded 50,000, an increase of 159.1% year-on-year. Due to the continued decline in market share of non-luxury joint venture passenger cars, the Group's joint venture business achieved sales of 1.3974 million units, of which, Dongfeng Nissan's sales decreased by 21.5% year-on-year and Dongfeng Honda's sales decreased by 8.5% year-on-year. The Group's overseas export business maintained a good growth momentum, with export sales of 169,100 units, an increase of 14.3% year-on-year, achieving the best level in history.

In this period, the Group achieved sales revenue of RMB 99.315 billion, with a net loss attributable to shareholders of listed companies of RMB3.996 billion. As of the end of 2023, the Group has abundant cash reserves, amounting to more than RMB100 billion. The Group continuously optimize asset structure and operational efficiency. The asset-liability ratio for this period was 51.7%, with a stable asset-liability structure. Operating cash flow increased by RMB1.991 billion year-on-year, with an operating cash ratio of 8.61%, steadily increasing operating cash flow.

In the face of a very severe situation, the Group focused on the overall goals of the "14th Five-Year Plan" and the Three-Year Action Plan for "Transition Action of technological innovation", and deepened reform and innovation, accelerating the pace of transformation and upgrading in new energy. We comprehensively completed the layout of new energy brands, platforms, products, and core resources, achieving new development in fields such as independent new energy vehicles, control of key core technologies, and deepening reforms, and forming a strategic layout that is significantly better than the era of traditional fuel vehicles.

The Group established comprehensive brand layout. In the luxury car market, we have positioned ourselves in the luxury electric off-road brand Dongfeng M HERO, and the first product, M HERO 917, achieved a transaction price of around RMB700,000 and has sold over a thousand units since its launch in September last year. In the high-end car market, Dongfeng VOYAH has completed three rounds of product iteration, with a transaction price of around RMB300,000, and sales volume in 2023 have exceeded 50,000 units. For the mainstream consumer market, Dongfeng eπ's first model, eπ007, was put into mass production and launched to market on March 14 this year. In the entry-level market, the first model of Dongfeng Nammi, the Nammi 01, started deliveries in January this year.

Through continuous innovation, we provided strong support for the transformation of new energy. We have built three major platforms for independent passenger cars: the M TECH Luxury Offroad Architecture, the Dongfeng Quantum Architecture, and the DSMA energy-saving Architecture. In the fields of green energy and intelligence, we have independently mastered technologies and resources such as the "three core e-components", electronic and electrical architecture, automotive-grade chips, independent controllers, intelligent driving, and fuel cells. We have increased our investment in technology, and the number of new invention patents authorized by the Company remains the highest in the industry.

Committed to promoting institutional and mechanism reforms that are in line with our transformation and upgrading. We have been accelerating the implementation of the three-year transformation and upgrading plan, unwaveringly strengthening and optimizing Dongfeng's independent business and new energy vehicles. We have carried out the “PV Transition Action” to manage the three major brands of Dongfeng Fengshen, Dongfeng eπ, and Dongfeng Nammi in an integrated manner, and pool the resources of the Group to develop the independent new energy passenger vehicle business. We have implemented the “R&D Transition Action” and established a research and development institute to build a "1+n" research and development system, focusing on the transformation and upgrading of new energy, deeply integrating the group's research and development system and resources, and comprehensively enhancing research and development efficiency. Furthermore, we have implemented the "CV Transition Action" for Dongfeng's commercial vehicle business and established a commercial vehicle business unit to operate the commercial vehicle business in an integrated manner across the Group, concentrate superior resources, help boost the commercial vehicle business to fully compete in the new energy era, and create a world-class commercial vehicle enterprise.

The implementation of these measures has achieved significant progress. From January to February this year, the Group sold 331,000 units of vehicles, an increase of 26.2%, achieving a "good start". Looking ahead, the Group will anchor the goals and tasks of the new mid-term business plan. We will strengthen our mission of "striving for first place and being a good national team", and make every effort to achieve transformation and breakthroughs, surpassing and leaping forward, and promoting new and greater progress in the Company's operations, in order to assist all shareholders in achieving value appreciation.

Finally, on behalf of the board of directors, I would like to express my sincere gratitude to all shareholders for their continued support and contribution.

Yang Qing

Wuhan, the PRC

28 March 2024

Governance Structure公司管治架构

The Company’s corporate governance structure involves the shareholders’ general meetings,the Board of Directors and special committees,the Supervisory Committee,the management and employees,each of which plays an important role in the governance of the Company.

List Of Directors董事会成员名单

EXECUTIVE DIRECTORS

Mr. Yang QingMr. You Zheng

INDEPENDENT NON-EXECUTIVE DIRECTORS

Mr. Leung Wai Lap, PhilipMr. Zong QingshengMr. Hu Yiguang

Audit and Risk Management Committee

Mr. Leung Wai Lap, Philip(Committee Convenor)Mr. Zong QingshengMr. Hu Yiguang

Remuneration Committee

Mr. Zong Qingsheng(Committee Convenor)Mr. Yang QingMr. Hu Yiguang

Nomination Committee

Mr. Zong Qingsheng (Committee Convenor)Mr. Yang QingMr. Leung Wai Lap, Philip

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