Lu fang takes charge, lantu rushes into key stage for hong kong stock listing

Lantu Automotive has welcomed a key personnel adjustment.

According to Tianyancha information, the legal representative and chairman positions are both concurrently held by the current CEO Lu Fang, while You Zheng has stepped down. During a critical phase of accelerating the Hong Kong stock market listing and frequent new product launches, this arrangement further shortens the decision-making chain, injecting new momentum for the brand's upward breakthrough.

Lu Fang, the commander of Voyah

Lantu Automobile, as a key move in Dongfeng Motor Group's transition towards high-end and intelligent vehicles, has its development closely linked to the leadership of CEO Lu Fang.

Looking back on his work experience, Lu Fang was deeply involved in the startup phase of Lantu, leading the team to build the brand system, develop product lines, and expand market channels from scratch.

Under his leadership, Voyah not only initially made inroads into the high-end new energy market but also approached the critical point of breaking even financially, demonstrating a stable growth momentum.

The growth rate of Lantu is visually reflected in market data. From January to August 2025, Lantu Motors' cumulative delivery volume reached 81,768 units, achieving a high-speed growth of 92% year-on-year. This achievement is not accidental. Since its establishment, Lantu has successively launched several models, including the Lantu FREE, the all-new Zhi Yin, and the all-new Dreamer, covering segmented markets such as SUVs and MPVs, forming an initial product matrix.

The image source: Lantu

Entering the second half of 2025, models such as Lantu FREE+ have successively achieved market breakthroughs, while the accelerated launch of the Chasing Light L and the flagship SUV “Taishan” further demonstrates its continuous product iteration and technological reserves, injecting new momentum for the brand's upward breakthrough.

Behind this series of actions is Lu Fang's emphasis on "relying on Dongfeng Motor's 56 years of car-making heritage and technological accumulation," which is a strategic approach to effectively integrate traditional car-making experience with the new requirements of intelligence and electrification.

Lu Fang has repeatedly pointed out that Lantu carries the dual mission of Dongfeng Motor Corporation's brand elevation and exploring new development models for independent brands. This strategic positioning dictates that Lantu should not only pursue short-term sales but also establish sustainable operational capabilities and brand value. The positive changes in financial data confirm the initial success of this long-term strategy. In 2023, Lantu Auto had a post-tax net loss of 1.472 billion yuan. However, by 2024, its losses significantly narrowed, with the post-tax net loss drastically reduced to 18 million yuan, just a step away from achieving full profitability.

Notably, Voyah achieved profitability in a single quarter in the fourth quarter of last year, indicating that its operational efficiency, cost control, and profit per vehicle are undergoing substantial improvement. The year 2025 is therefore regarded internally as a critical year for achieving self-sufficiency, and the ability to sustain profitability is crucial for Voyah's long-term independent development.

At the 2025 User Night, Lu Fang summarized several key points when analyzing the driving factors behind the "Lantu Speed": Firstly, it relies on continuous product innovation and enhancement of user experience to gain recognition; secondly, it involves keen insight into user needs and market trends, and timely adjustment of strategies; lastly, it is about adhering to long-termism, not pursuing momentary hype, but solidly building systematic capabilities.

This development approach enables Voyah to maintain a relatively stable pace when facing industry challenges such as price wars and rapid technological iterations. At the same time, Lu Fang himself, as the leader of the company, holds dual roles as Chairman and CEO, reducing internal communication costs and accelerating the process from strategic formulation to execution. This is particularly important in the new car-making sector, where quick decision-making is essential.

Currently, Lantu is regarded as a relatively stable and mature brand under the Dongfeng Group, which has high expectations for it. With the gradual launch of new models, Lantu's product line will be further, and the brand will have the opportunity to enter more mainstream market segments for competition.

Key Steps Before Going Public

To advance the process of Lantu Automobile's listing on the Hong Kong Stock Exchange, Dongfeng Group and Lantu Automobile have implemented a series of strategic adjustments since August. This is to quickly connect with the capital market through an "introduction listing" while optimizing the company's governance structure and enhancing its independent operating capabilities.

On August 22, Dongfeng Motor Group officially announced that its subsidiary, Voyah Automobile, will be listed on the Hong Kong Stock Exchange by way of introduction, while Dongfeng Motor Group plans to complete privatization and delisting simultaneously. This "cage replacement for a new bird" capital operation aims to quickly establish independent financing channels for Voyah Automobile, leverage the capital market to further enhance brand influence, accelerate technology development, and international expansion.

According to the listing plan, the overall process of Lantu Automobile is divided into two core stages: first, Dongfeng Motor Group Co., Ltd. will distribute its 79.67% stake in Lantu Automobile to all shareholders proportionally, allowing Lantu to meet the conditions for listing by way of introduction; subsequently, Lantu Automobile will independently apply for listing on the Main Board of the Stock Exchange. In the second stage, Dongfeng Motor Group (Wuhan) Investment Co., Ltd. will act as the merging entity, paying equity and cash consideration to ultimately achieve full control of Dongfeng Motor Group Co., Ltd. and complete the delisting.

Through this design, Voyah can quickly complete its listing without additional financing, significantly shortening the approval time and market uncertainty required for a traditional IPO, thus gaining a competitive edge in the fiercely competitive new energy vehicle market.

This structural transformation deeply reflects the core direction of Dongfeng Group's current round of state-owned enterprise reform, which is to "liberate subsidiaries." By "weakening" the direct control of the group itself and granting market-oriented business units like Voyah greater operational autonomy and decision-making flexibility, the aim is to maximize their inherent development drive and market vitality.

For Lantu, going public is not only a recognition of brand value but also means that it needs to directly face the scrutiny and pressure of the capital market. This will compel it to further improve in areas such as corporate governance, financial transparency, and strategic planning, accelerating the development of its self-sustaining capabilities.

Image Source: Dongfeng

To meet the requirements for listing, Voyah Automobile completed its shareholding reform on September 15, with the company officially changing its name from "Voyah Automobile Technology Co., Ltd." to "Voyah Automobile Technology Co., Ltd. (joint-stock company)." The registered capital increased to 3.68 billion yuan, marking a step towards the standardization and internationalization of the company's governance structure.

On September 22, Lantu announced a major personnel adjustment: the former chairman You Zheng stepped down, with CEO Lu Fang taking over as both chairman and general manager, unifying the roles of chairman and CEO. Additionally, several directors, including Qin Xuanyuan and Feng Changjun, exited the board, while six new directors, such as Fu Bingfeng and Jiang Taotao, were added to form a new board more focused on the capital market and strategic execution.

This adjustment in personnel and governance structure not only reflects Dongfeng Group's strategy of "delegating authority and empowering" to encourage independent operation of Voyah in the context of state-owned enterprise reform but also helps reduce decision-making layers and improve management efficiency to address various challenges during the listing process.

Throughout the preparation process for its listing, Lantu Motors not only demonstrated efficiency and clear strategic intent in capital operations, but also showcased the comprehensive strength required for a mature automobile enterprise facing the capital market through governance structure adjustments, dual-driven product and technology development, and financial optimization.