Changan Auto is in a hurry.

On February 9th, Changan Auto officially unveiled its intelligent strategy, the "Beidou Tianshu 2.0" plan, in Chongqing. The plan envisions the creation of "thoughtful, understanding AI digital new cars" and announces that no non-intelligent new products will be developed from this year onwards. Over the next three years, the company plans to launch 35 digital new cars.

In addition, Changan unveiled the Deep Blue S09, launched the Deep Blue S07, and upgraded the configurations of the Deep Blue S05. Today, I'd like to focus less on the content of Changan Auto's press conference and more on the timing of it.

As you can see, Changan Auto's press conference was held on February 9th, just one day before BYD's National Intelligent Driving press conference. This timing is quite strategic.

While we can't speculate about its exact purpose, this "preemptive sprint" is quite evident. On the surface, Changan Auto seems to be aiming to seize the initiative in public opinion, but in reality, it reveals the company's strategic anxiety in the midst of its intelligent transformation. The timing and content of this press conference can be described as a "face-saving and substance-seeking" survival performance. So, can such an impatient Changan Auto successfully seize the moment and eat "hot tofu"?

Changan: Hard to Stay Calm

In fact, by announcing the "Beidou Tianshu 2.0" plan 24 hours in advance and shouting the slogan of "National Intelligent Driving," Changan Auto was essentially aiming to compete for the definition of the "first year of intelligent driving."

BYD's brand momentum and influence are immense, and if it takes the lead in defining "intelligent driving for all," other automakers will find themselves in a very passive position. Changan's move attempts to use its "first voice" to counteract BYD's "late-mover technological advantage."

Why is this so important?

This has to do with Changan's sales performance. According to official data, Changan Auto's cumulative terminal sales in 2024 were 2.683 million units, an increase of 5.1% year-on-year. While this may seem decent, this growth rate ranks at the bottom among independent brands and did not meet its annual target of 2.8 million units set at the beginning of 2024.

The sales figures reflect in the financial report as well.

Previously, Changan Auto (000625.SZ) announced that in the third quarter of 2024, the company's operating revenue was 34.237 billion yuan, a year-on-year decrease of 19.85%. The net profit attributable to shareholders of the listed company was 748 million yuan, a year-on-year decrease of 66.44%. From the beginning of the year to the end of the reporting period, the company's operating revenue was 110.96 billion yuan, an increase of 2.54% year-on-year; the net profit was 3.58 billion yuan, a year-on-year decrease of 63.78%.

The main reason for these issues is the continued losses in the new energy business (such as Avatar's loss of 1.395 billion yuan in the first half of 2024) and the drag of huge investments in Deep Blue and Huawei's expectations.

Undercurrents in the Automotive Market

Competition in the automotive market has always been subtle. On the surface, everyone seems to be getting along well, but in reality, there are undercurrents.

For instance, after BYD's press conference, Huawei's Car BU Chairman Yu Chengdong was quick to respond sarcastically, remarking that "just good enough intelligent driving ≠ safe and easy to use," directly targeting BYD.

In addition, here's an interesting anecdote to share with you. It might just be a coincidence, so consider it a fun read.

I've heard several media friends complain these days that they attended Changan's "Beidou Tianshu" press conference and were quite upset.

Firstly, the venue layout for the press conference was very hasty, and most media personnel did not have seats. During the 3-hour press conference, everyone had to stand;

Secondly, the flight tickets were booked very hastily, and return tickets were not booked for the night of the press conference;

Conclusion

Frankly speaking, Changan Auto's preemptive move is a stress response to the intelligent revolution. It wants to shake off the label of being a "follower in electrification" while fearing BYD's technological siege. So, returning to the ultimate question, can an impatient Changan Auto successfully seize the moment and eat "hot tofu"? For now, it seems difficult. We can only hope that this operation doesn't end up being a case of "trying to catch a chicken and losing a handful of rice."