On the evening of February 4th, Chongqing Changan Automobile Company Limited (000625) announced that, based on firm confidence in the company's strategic development prospects and intrinsic value, and to actively safeguard corporate value and shareholder rights, optimize the capital structure, and enhance earnings per share, it is currently planning a share repurchase initiative. This plan is formulated in conjunction with the company's present financial status and future operational plans.
The repurchase will be executed via the Shenzhen Stock Exchange trading system using a centralized competitive bidding method. The implementation period will commence from the date the shareholders' meeting approves the final repurchase plan and will not exceed 12 months. The maximum repurchase price will not exceed 150% of the average trading price of the company's shares over the 30 trading days preceding the board of directors' resolution approving the repurchase plan.
The total funds planned for the repurchase are set at no less than 1 billion yuan (inclusive) and no more than 2 billion yuan (inclusive). Specifically, the plan allocates no less than 700 million yuan (inclusive) and no more than 1.4 billion yuan (inclusive) for repurchasing A-shares, and no less than 300 million yuan (inclusive) and no more than 600 million yuan (inclusive) for repurchasing B-shares. The intended use of the repurchased shares is to reduce the company's registered capital.
Since the beginning of 2026, Changan Automobile's stock price has generally experienced a downward trend. On February 2nd, the company's share price hit a low of 11 yuan per share, marking a multi-year low. However, in 2025, Changan Automobile achieved significant growth in the production and sales of its new energy vehicles (NEVs).
According to a recently disclosed production and sales report, the company's total cumulative production for the full year of 2025 reached 2,766,302 units, a year-on-year increase of 5.36%. Within this figure, NEV production was 1,118,022 units, surging 53.73% compared to the previous year. Total annual sales reached 2,913,042 units, up 8.54% year-on-year, with NEV sales accounting for 1,109,979 units, representing a 51.1% increase.
In a recent investor relations activity announcement, Changan Automobile also revealed its action plan for the "16th Five-Year Plan" period. The company will continue to deeply advance its three major initiatives, accelerating its transformation into an intelligent and low-carbon mobility technology company and aiming to build a world-class automotive brand.
The company targets achieving cumulative sales of 40 million units for its Chinese brands by around 2028. By 2030, it aims for annual production and sales to exceed 5 million units, with new energy vehicles comprising over 60% of the total and overseas sales accounting for more than 35%, thereby entering the global top 10 automotive brands.
The company stated that 2026 is a critical juncture for initiating the "16th Five-Year Plan." It will adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, anchor its full-year sales targets, and resolutely fight the "opening battle." Specifically, for 2026, the overall sales target is 3.3 million units, a 13.3% year-on-year increase. This includes an NEV sales target of 1.4 million units, up 26.2% year-on-year, and an overseas sales target of 750,000 units, a 17.7% increase.
Regarding specific operational work, Changan Automobile indicated that in 2026, it will focus on recently launched models such as the Qiyuan A06, Q05, and Shenlan L06, striving to build them into major product successes. The company plans to launch a cumulative total of 43 new models over the next three years. By category, this includes 13 sedans, 20 SUVs, 1 MPV, 3 pickup trucks, and 6 commercial vehicles. By powertrain type, there will be 8 fuel-efficient vehicles (ICE+HEV) and 35 new energy vehicles.
In the domestic market, the strategy involves forming core product matrices for each brand. The company will accelerate the layout of next-generation products to fill gaps in market segments, solidify the product foundation for sales growth over the next three years, and achieve a comprehensive, all-category market layout by 2028.
For overseas markets, the focus is on accelerating global expansion. The plan is to launch a cumulative total of 26 new models over the next three years, covering over 140 countries and regions for both left-hand and right-hand drive markets.
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