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On the evening of July 15, Shenlong Automobile Co., Ltd. held a cadre propaganda meeting, and Zheng Hongyi, head of the Organization Department of the Party Committee of Dongfeng Company, announced the decision to adjust the members of the leading group of the company: recommend Song Hanming to serve concurrently as general manager of Shenlong Automobile Co., Ltd. Chen Bin will no longer hold the post of general manager of Shenlong Automobile Co., Ltd. The appointment and removal of relevant posts shall be handled in accordance with the relevant provisions.

According to the data, Song Hanming was born in December 1970 in Jingmen, Hubei Province. He graduated from Jiangxi University of Finance and Economics in July 1996. After graduation, Song Hanming began to join Dongfeng Company, Dongfeng Commercial vehicle, Dongfeng Automobile Co., Ltd., Shenlong Automobile and other automobile companies to engage in business planning, party building, party building and mass work. He once served as vice minister and minister of the career Planning Department of Dongfeng Commercial vehicle Company. He has deep attainments in the automotive field.

In April this year, Song Hanming became party committee secretary, discipline inspection committee secretary, and trade union chairman candidate of Shenlong Automobile Co., Ltd., while Chen Bin was transferred to the party committee standing committee and deputy general manager of China first Automobile Group Co., Ltd on July 11.

Chen Bin was promoted to assistant president of Dongfeng Company in September 2020, executive deputy general manager and party committee secretary of DPCA. Half a month later, he succeeded Rothbo, an executive stationed by French shareholders, as general manager of DPCA. DPCA is facing a decline in sales as it takes over. Therefore, many people in the industry believe that Chen Bin took over DPCA in the face of danger, and under his leadership, DPCA sales have indeed increased.

Shenlong Automobile Co., Ltd. was established in May 1992, jointly funded by Dongfeng Motor and Peugeot Citroen Group, headquartered in Wuhan, Hubei Province, with two major brands Dongfeng Peugeot and Dongfeng Citroen. As a representative of French cars, DPCA has also been at the forefront of joint venture brands, reaching an all-time high with annual sales of 705000 vehicles in 2015. But after a brief highlight, DPCA sales began to fall rapidly. From 2016 to 2020, it fell by 15.2%, 36.85%, 32.89%, 55.17% and 55.74%, respectively.

It was not until September 2021, when the Dongfeng Citroen Versailles C5X went on sale, that DPCA's annual sales returned to 100000. Data show that DPCA's annual sales in 2021 and 2022 were 101000 and 127000 respectively, an increase of 100.07 per cent and 30 per cent respectively over the same period last year. But the good times did not last long. With the reshuffle of the car market, DPCA was beaten back to its original shape. In 2023, DPCA sales fell 35.81% year-on-year to 80300 units.

At present, DPCA is facing the difficult problem of electric transformation. In February last year, DPCA announced that it would fully promote electrification and will launch 9 new models and a number of modified models in the next five years, 8 of which are new energy models. At the same time, DPCA has also "slimmed down" itself. In October of the same year, Dongfeng Group signed an "Asset transfer Agreement" with DPCA. The former bought DPCA's specific land use rights, buildings and structures in Wuhan and Xiangyang, China for 1.714 billion yuan, and reached a leasing arrangement. Dongfeng Group will lease the target assets to DPCA for a term of 10 years.

Judging from the course of development, it is not too late for DPCA to enter the Chinese market, but today's DMC is not as good as it used to be. The latest figures show that DPCA sold 37700 vehicles in the first half of this year, down 14.77 per cent from a year earlier. According to Automotive Industry concern, on the one hand, the decline in sales of DPCA is related to the weak sense of presence of French cars in the domestic market, and on the other hand, DPCA has failed to adapt to the changes in the car market to promote the development of electric transformation. coupled with the slow iteration of its own product updates.

At present, DPCA has fully turned to electric, but its layout in the field of new energy vehicles is extremely limited, and so far there are no pure electric models under it. The first new energy model will not be officially put into production until 2025, and the fight in the domestic new energy field has been extremely fierce. It is not easy for DPCA, which lags far behind in the new energy era, to return to its sales peak. Based on this, Citroen Motor has also begun to accelerate its development into overseas export markets. Data show that DPCA's cumulative exports increased by 32% in the first half of the year compared with the same period last year.

Song Hanming, who newly took over the post of general manager of DPCA, said in this statement that DPCA is getting closer and closer to achieving the strategic transformation goals set by shareholders, and its responsibilities are getting heavier and heavier. We will work with team members to promote the high-quality landing of DPCA's strategic transformation. It should be noted that after Song Hanming took over the post of general manager of DPCA, in addition to helping DPCA realize the strategic transformation of electrification, "how to boost sales" is also its most urgent problem to be solved. as for whether the DPCA can regain its former days after changing the coach, it remains to be seen.

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