Changan Automobile Achieves Milestone as Independent Central Enterprise

On July 30, during Changan Automobile Group's first media communication event, Chairman Zhu Huarong expressed his joy by stating, "I see plenty of opportunities." The rapid preparation from announcement to establishment in just 56 days highlights the hard work that led to today's results, making it difficult to fully share the mixed emotions involved, yet this sentiment is highly contagious. Born with a mission, Changan has rooted itself in the civilian car market amid challenges. Lacking technology, they sought partnerships through sincerity, and when unable to secure joint ventures with leading multinational automakers, they ventured into independent research and development. Faced with developmental bottlenecks, they reformed and promoted talent, consistently battling against the odds throughout their century-long journey. This reorganization, which led to their establishment as an independent central enterprise, once again proves Changan's adeptness at turning adversity into opportunity. Changan has successfully carved out a chance for independent development, establishing itself as the first central enterprise headquarters in Chongqing and the third central enterprise in the automotive industry, aiming to create a world-class automotive group with global competitiveness and core autonomous technologies. Reflecting on the past hundred days, Changan's transformation from being underestimated to publicly conveying confidence during performance briefings, and ultimately upgrading to a central enterprise, is an unforgettable experience for those involved. The journey is filled with hope and dreams, and more behind-the-scenes stories may gradually reveal themselves as Changan continues to achieve new milestones. To understand how Changan managed this turnaround, it's essential to grasp the character of the company: tenacious, daring, and ambitious. Changan employees exhibit a relentless drive, always appearing energetic and openly expressing their aspirations for success. In February 2022, Changan announced a significant personnel reshuffle, dismissing all general managers and mid-to-senior-level management to optimize hiring, affecting 39 departments. This transformation saw the appointment of the first post-80s vice president, Wang Hui, with several others following suit. By early this year, there were five vice presidents from the post-80s generation. The youngest, Deng Chenghao, born in 1986, became the general manager of Deep Blue Automotive at 35, and later a vice president at 37. Deep Blue launched its first model, the SL03, in July 2022, achieving over 10,000 deliveries in just six months; its second model, the S7, also reached over 10,000 deliveries within 40 days of its launch in June 2023. Deep Blue has become a champion in new energy vehicle sales among central enterprises, achieving key performance indicators like profitability. The company exhibited a spirit of overcoming adversity, driven by employee motivation and effective incentive mechanisms. Zhu Huarong's remarks at the media meeting about the overwhelming resources available to Changan captured the essence of their journey. Changan's growth from small to large was seizing the opportunity of cars entering households, and its transition from large to strong was achieved through its own efforts. Even amidst the new energy revolution, Changan promptly launched three major brands: Avita, Deep Blue, and Changan Qiyuan. Each brand has carved its niche without overlap, allowing them to thrive independently. In the first half of this year, Changan reported revenues of 146.9 billion yuan and vehicle sales of 1.355 million, a near eight-year high. They aim to reach total sales of 3 million vehicles, including 1 million in new energy sales, with projected annual revenues of 355 billion yuan. Today, Changan has successfully navigated one of its toughest challenges. The opportunity has once again been bestowed upon those who are prepared, and Changan has been preparing for over a hundred years for this momentous occasion.