Dissemination Of Corporate Communications
Pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Company disseminates and publishes Corporate Communications to the shareholders of the Company by electronic means. The details of the arrangement can be downloaded through the following links：
-Arrangement on Electronic Dissemination of Corporate Communications
"Corporate Communication" means any document issued or to be issued by the Company for the information or action by any of its shareholders, including but not limited to directors' reports and annual accounts together with auditors' reports, interim reports, notices of meetings, listing documents, circular and proxy form.
The application form for registered shareholders and non-registered shareholders of the Company to select the method of receiving Corporate Communications and/or request printed copies can be downloaded through the following links:
At the same time, shareholders can also download the above notification letter from the "HKEXNews" website of The Stock Exchange of Hong Kong
If the shareholder has provided his or her valid email address, the shareholder will receive an email notification each time the Company publishes Corporate Communication. If shareholders wish to receive Corporate Communications in printed form, please fill in and submit the above application form to the Company's share registrar, or send an email to dfmg.ecom@computershare.com.hk specifying the shareholder's name, address and request to receive the Corporate Communications in printed form. Please note that instruction to receive future Corporate Communications in printed form will be valid for one year from the receipt date of the shareholder's instruction.
News
Chairman's Statement
Dear Shareholders,
On behalf of the Board of the Company, I extend sincere gratitude to our shareholders, customers, partners, and all colleagues for their long-standing support! The year 2024 marks a pivotal phase of accelerated transformation for China’s automotive industry and a critical year for the Company to seize opportunities and deepen its strategic evolution.
Over the past year, the global automotive sector continued to face complex challenges. The dual drivers of growth – new energy vehicles (NEVs) and overseas markets – have become increasingly prominent, reshaping the competitive landscape. Against this backdrop, The Company has steadfastly adhered to its strategy of “technologydriven innovation and open collaboration”, leveraging innovation to synergize the development of its proprietary brands, NEV business, and global expansion, thereby achieving steady improvements in operational quality.
In 2024, China’s automotive sales grew by 4.5% in a market where demand diversified and competition intensified. NEVs and overseas opportunities emerged as core growth drivers, surging by 35.5% and 19.3% year-on-year (YoY), respectively. NEV penetration reached 40.9%, while sales of proprietary passenger vehicles rose 23.1% YoY. Non-premium joint venture (JV) brands and internal combustion engine (ICE) vehicle sales continued to decline.
The Company proactively adapted to industry shifts by accelerating business optimization, structural adjustments, and technological innovation, driving transformative upgrades and high-quality growth. Despite intensifying competition and margin pressures, the Company achieved remarkable operational improvements: rapid growth of proprietary brands, NEVs, and overseas operations; robust technological innovation; and a successful turnaround from losses to profitability in business performance.
During the reporting period, the Company sold approximately 1.8959 million vehicles, marking a year-on-year decrease of 9.2%. Notably, domestic passenger vehicle sales demonstrated strong growth in both volume and profitability, with approximately 438,900 units sold–representing a 26.4% year-on-year increase–while gross margin improved by 8.4 percentage points compared to the same period last year. Commercial vehicle (CV) sales reached approximately 351,800 units, reflecting a 2.4% increase year-on-year. NEV sales totaled approximately 394,600 units, up 13.4% year-on-year, with NEV sales accounting for a higher proportion of total Group sales (an increase of 4.1 percentage points compared to the prior-year period). Meanwhile, JV operations were actively engaged in transformation and development, strengthening shareholder strategic synergy and accelerating product upgrading. However, impacted by the continued decline in market share in the non-premium JV market, JV sales registered 1.1052 million units. Overseas exports surged to approximately 195,200 units, a 15.5% year-on-year increase, propelling overall sales to a new record level.
