Lantu, the electric‑vehicle arm under Dongfeng, has received all required pre‑listing regulatory approvals and secured conditional consent from the Hong Kong Stock Exchange, bringing an across‑the‑board Hong Kong listing within reach. Beijing’s securities regulator completed a formal filing for the company in late January, and the filing is valid for 12 months from January 22, clearing a key procedural hurdle for an overseas debut by introduction.
The flotation will take place by way of introduction rather than a new share sale, and sits inside a two‑step corporate reshuffle that will delist Dongfeng Group Co. (0489.HK) through privatization. First, Dongfeng Group will distribute its 79.67% holding in Lantu pro rata to its shareholders so that Lantu can appear on the Hong Kong market on an as‑is basis; second, a domestic Dongfeng subsidiary will absorb Dongfeng Group in a transaction designed to consolidate control and effect a full privatization of the listed parent.
Operationally Lantu says it is expanding product lines across pure‑battery and extended‑range segments, with launches such as the Lantu Taishan, a refreshed FREE+, and new models slated for 2026, and reports that it delivered 150,200 vehicles in 2025. The company also points to an improving earnings trajectory: Lantu posted its first quarterly profit in Q4 2024 and widened net profits to ¥479 million in January–July 2025, signalling a shift from scale‑chasing to margin recovery.
The transaction and listing carry both symbolic and practical significance. If completed, Lantu would be the first new‑energy vehicle maker directly associated with a centrally owned enterprise (央企) to list in Hong Kong, offering a branding and governance moment for state‑backed EV plays. But the route chosen—listing by introduction plus parent privatization—limits immediate capital raising, leaves valuation to market appetite for existing stock, and exposes minority holders and regulators to a complex squeeze‑out and corporate‑governance narrative amid fierce competition in China’s EV market.