Research Report Insights | Changjiang Securities: Reiterates 'Buy' Rating for Changan Automobile, Share Repurchase Plan Highlights Company's Growth Prospects

Gelonghui, February 12 | A research report by Changjiang Securities pointed out that Changan Automobile's repurchase plan highlights the company's development prospects and strengthens investor confidence. The repurchase plan for A-shares is no less than 700 million yuan (inclusive) and no more than 1.4 billion yuan (inclusive), while for B-shares, it is no less than 300 million yuan (inclusive) and no more than 600 million yuan (inclusive). This repurchase reflects the company’s firm confidence in its strategic development prospects and intrinsic value, while actively safeguarding the company’s value and shareholders’ rights, increasing earnings per share, and enhancing investor confidence. The company is proactively promoting autonomous driving accessibility, making forward-looking investments in robotics and flying car businesses to build future competitiveness. With a strong ability to create new products, Changan Automobile is transitioning independently, supported by electrification and intelligent technologies to enter a new phase, with rapid expansion in overseas markets. Accelerated progress in electric and intelligent transformation, combined with an expanding international presence, is driving continuous sales growth. As a newly reformed central enterprise platform, operational efficiency continues to improve. The acceleration of electric and intelligent transformation is expected to continuously boost sales performance and deliver results. It is projected that the net profit attributable to shareholders will reach 5.16 billion yuan in 2025 and 7.59 billion yuan in 2026, corresponding to a price-to-earnings (PE) ratio of 21.5x and 14.7x respectively. The “buy” rating is maintained.