Lantu Motors listed on the Hong Kong Stock Exchange: the first high-end new energy vehicle stock from central and state-owned enterprises

On March 19, Lantu Auto (07489.HK) was listed on the Main Board of the Hong Kong Stock Exchange, becoming the first high-end new energy vehicle (NEV) state-owned enterprise listed in China. On the same day, Lantu Auto’s strategic model for its Hong Kong listing—the Lantu Taishan X8—made its official debut.

Yang Qing, Chairman and Party Secretary of Dongfeng Motor Corporation, stated that promoting Lantu Auto’s listing is an effective way for Dongfeng to strengthen the management of its listed company’s market value and to promote the preservation and appreciation of state-owned assets. It is also a key measure for Dongfeng to accelerate its new energy transformation and enhance core competitiveness.

“Dongfeng Group has stepped back from the Hong Kong capital market and supported Lantu Auto to rise. This process reflects our goal of creating a new business model to ensure the preservation and appreciation of state-owned assets, which should not be undervalued in the capital market,” said Lu Fang, Chairman and Party Secretary of Lantu Auto, in an interview. He added that Lantu Auto will adopt a more open attitude to embrace the global market, accelerate the building of a world-class enterprise, and strive to become a leader in new energy vehicles.

Public data shows that as one of the fastest-growing independent NEV brands in the industry, Lantu Auto’s sales are projected to grow from 50,300 units in 2023 to 150,200 units in 2025, with a compound annual growth rate of 73%. Revenue is expected to rise from 12.75 billion yuan to 34.86 billion yuan, with a net profit attributable to the parent of 1.02 billion yuan in 2025, maintaining a gross profit margin of 20.9%.

“A good gross profit margin reflects efficiency,” Lu Fang said. “Only through self-sustaining and self-recycling can the company truly provide valuable, sustainable services to users. The purpose of a business is to create value for society, not to consume it. We must have the ability to generate our own resources and avoid always operating at a loss.”

Regarding the “14th Five-Year Plan,” Lu Fang revealed that L4 and L5 level autonomous driving and unmanned driving are future directions. The relationship between cars and software, cars and people, and cars and artificial intelligence are all areas Lantu Auto is exploring and planning for. In the era of artificial intelligence, the next generation of vehicles should be developed and led by Chinese companies. “We hope to serve global users during the ‘14th Five-Year Plan’ period.”

On the day of listing, the Lantu Taishan X8 was officially unveiled. It is known as the “largest five-seat SUV in China,” with a cabin space of 6.1 square meters, capable of accommodating 11 suitcases and 48 storage compartments simultaneously.

The Lantu Taishan X8 is the first 8-series SUV equipped with four laser radars and will debut with the latest generation Hongmeng cockpit. It offers both PHEV (plug-in hybrid electric vehicle) and EV (fully electric vehicle) versions, equipped with 65kWh and 120kWh high-capacity battery packs, respectively.

2026 is set to be a “big year” for Lantu Auto’s product lineup, with multiple new models launched in March. For the high-end SUV market, Lantu Auto held the Taishan Technology Upgrade Launch Conference on March 17, unveiling the “all-new 896-line laser radar flagship SUV,” the Lantu Taishan Ultra, which has entered mass production and delivery, and launching the Lantu Taishan Black Warrior edition. In the high-end MPV segment, Lantu Auto partnered with Huawei to create the “New Era Family Smart Flagship MPV” Dreamer Champion Edition, which was launched on March 10.