In 2025, revenue is expected to grow by over 10% year-on-year, with Jianghuai Automobile's business scale remaining stable and improving steadily.

On April 3, Anhui Jianghuai Automobile Group Co., Ltd. (abbreviated as “JAC”, 600418.SH) released its 2025 annual report. The report shows that in 2025, JAC Automotive faced intense industry competition head-on, and by focusing on the high-end intelligent new-energy track, deepening open cooperation, and accelerating technology implementation, it achieved effective improvement in operating performance. For the full year, operating revenue reached 46.476 billion yuan, up 10.35% year over year, demonstrating resilience in stable operations and high-quality development.

Adhering to long-termism, the Zunjie brand leads a leap in operating quality

JAC Automotive has consistently adhered to the long-term development philosophy. By partnering with Huawei to build the ultra-luxury intelligent new-energy brand “Zunjie,” it successfully achieved double breakthroughs in brand elevation and operating quality. In 2025, JAC Automotive’s phenomenal benchmark product, the Zunjie S800, was especially impressive: within 9 months of its launch, cumulative deliveries exceeded 15,000 units; for five consecutive months, it remained firmly at the top as the best-selling million-yuan luxury car, not only setting a new record for the delivery speed of domestically produced million-yuan luxury cars, but also setting a best-ever result in China for domestic brands with an NPS value (Net Promoter Score) of as high as 86, successfully establishing a new global “tech luxury” benchmark.

On the manufacturing front, the Zunjie super factory located in Hefei was selected as a national-level “intelligent manufacturing benchmarking enterprise.” Its “digital twin” factory can collect 300,000 data points per second; the commissioning cycle is shortened by more than 40%, and the manufacturing and delivery cycle is shortened by more than 20%, providing solid assurance for high-quality product delivery. On the supply chain front, JAC Automotive joined forces with more than 200 of the world’s top supply chain partners to form a “quality alliance,” jointly exploring “tech luxury” in the “unmappable” zone.

Accelerating the intelligent new-energy transition, with firm roots in traditional and innovative businesses

While fully building the Zunjie brand, JAC Automotive has continued to consolidate its advantages in traditional businesses and accelerate its transition to intelligent new energy, forming a steady business matrix for coordinated development.

In 2025, JAC Automotive’s commercial vehicle business maintained steady scale. Full-year sales increased 9.33% year over year, and light trucks remained in second place in the industry. Among them, sales of new-energy commercial vehicles grew 70.76% year over year, ranking fourth in the industry. The launch of JAC’s new flagship product, the Kunpeng ET9 for 1-ton trucks, further ushered in a new era of green and intelligent logistics.

JAC’s international business layout continued to deepen. In 2025, cumulative sales exceeded 200,000 units. Exports of mid-to-high-end light trucks remained number one in the industry, and pickup truck exports ranked second in the industry. It successfully entered high-end European markets such as Poland, where sales in five key markets surpassed 10,000 units each. In Vietnam, the joint venture JAC Automotive achieved exports ranked first among Chinese brands.

In the passenger vehicle segment, JAC Automotive promoted focused integration and transformation and upgrading, and advanced coordinated development across four product lines: MPVs, new-energy passenger vehicles, SUVs, and pickups. Pickups adhere to a “gas and electric together” product strategy, with cumulative sales exceeding 60,000 units and ranking second in the industry. Based on the DEFINE platform, two prototype vehicles—“Super Coupe DEFINE-S” and the “Intelligent Light Travel SUV DEFINE-X”—won the 2025 German Red Dot Design Concept Award.

The core driver supporting an all-around improved business outlook comes from high-intensity investment in technological innovation. In 2025, JAC Automotive’s R&D investment reached 4.179 billion yuan, up 20.64% year over year. R&D spending as a proportion of operating revenue was 8.99%. In 2025, it applied for 636 patents and received 23 awards for science and technology throughout the year. For the first time, it participated in the formulation of international standards and successfully applied for the “Anhui AI Automotive Industry Innovation Center.” During the 14th Five-Year Plan period, cumulative R&D investment has nearly reached 14 billion yuan, growing nearly 2.5 times over five years.

Deepening the open cooperation model, building a new pattern of ecosystem win-win

In terms of future industrial competition, JAC Automotive has always regarded open cooperation as a key path for enterprise development, and is committed to building a win-win ecosystem of “symbiotic development” with leading global partners.

JAC Automotive’s strategic cooperation with Huawei has gone beyond a single project; it has been comprehensively expanded into the commercial vehicle sector, and a joint venture company, Jiehua Power, has been established to deepen collaboration in intelligent components. The long-term strategic cooperation agreement signed with CATL, meanwhile, drives both sides to upgrade from a supply-and-demand relationship to an innovative alliance for joint technology research and market expansion. In addition, JAC Automotive has established strategic partnerships with seven core suppliers including Schaeffler and Shanghai Baolong, forming a model industrial ecosystem exemplifying the principle of “one vehicle connecting the full industrial chain.”

At the same time, JAC Automotive has started cooperation with Beijing Institute of Technology and Altr to jointly promote innovative breakthroughs in technologies related to flying cars and intelligent transportation.

In addition, regarding industry-university-research cooperation, JAC Automotive has teamed up with 13 academicians’ teams, including Tsinghua University, the University of Science and Technology of China, and Zhong Zhihua, to conduct cutting-edge research in areas such as single-atom catalysts and integrated die casting, among others. Some of its core technologies have already been applied in the development of products such as Zunjie.

Regarding capital operations, in 2025, JAC Automotive successfully completed 3.5 billion yuan in market-oriented financing. Its market value remained stable at around 120 billion yuan. Recognition from the capital market and the company’s own “blood-generating” capability were significantly enhanced.

Looking back on 2025, JAC Automotive not only achieved a clear improvement in operating performance, but also made systematic breakthroughs in building high-end brands, tackling core technologies, and constructing an industrial ecosystem.

Looking ahead to 2026, JAC Automotive stated that it will firmly stick to the direction of intelligent new energy development, continuously increase R&D and innovation efforts, accelerate its transformation into a “technology-oriented” company, and promote high-quality development.(Jiang Yixiao)

Massive information, precise interpretation—available in the Sina Finance APP