Voyah Automotive Lists in Hong Kong, Launches Advanced Intelligent Driving System

Dongfeng’s electric vehicle unit, Voyah, marked a significant week by debuting on the Hong Kong Stock Exchange and simultaneously launching its flagship Taishan Ultra SUV, featuring a cutting-edge intelligent driving system. The listing positions Voyah as the first high-end new energy vehicle stock from a central state-owned enterprise in Hong Kong.

Hong Kong Stock Exchange Listing

Voyah commenced trading on the Hong Kong Stock Exchange (stock code 07489) on March 19, 2026, through an introduction listing, meaning no new shares were issued and no capital was immediately raised [CNevPost]. As of press time, the stock experienced a 6.4% decrease in early trading, reaching HK$7.02 per share, resulting in a market capitalization of HK$26 billion (approximately $3.3 billion) [CNevPost]. This move represents a key step in the market-oriented transformation for the state-owned new energy brand and establishes a platform for connecting with global capital [Gasgoo].

Taishan Ultra: A Leap in Intelligent Driving

Alongside the listing, Voyah initiated deliveries of the Taishan Ultra, a six-seat SUV equipped with a Level 3 intelligent driving system. This system boasts a four-LiDAR matrix and 34 fusion perception sensors, including an 896-line dual-optical-path image-grade LiDAR – currently the highest specification in mass production [Gasgoo]. The LiDAR’s high resolution enables long-distance detection of small obstacles and irregular targets, enhancing safety.

Public Testing and Validation

The Taishan Ultra’s capabilities were demonstrated through public extreme scenario testing, broadcast live by CCTV. The vehicle autonomously managed deceleration, avoidance, pulling over, and emergency braking in simulated situations involving sudden obstacles, obstructed visibility, and driver incapacitation [Gasgoo]. Actor Hu Jun participated in the testing and immediately ordered a personalized Black Knight edition of the vehicle.

Financial Performance and Growth

Voyah achieved a net income of 1.02 billion yuan ($148 million) in 2025, demonstrating profitability [CNevPost]. Revenue increased from 12.75 billion yuan in 2023 to 34.86 billion yuan in 2025, with vehicle sales growing from 50,285 units to 150,169 units, representing a compound annual growth rate (CAGR) of 73% [CNevPost]. The company’s gross margin stabilized at 20.9% [CNevPost].

Technological Advancement and Patent Portfolio

As of December 31, 2025, Voyah held 1,874 granted patents and had 5,405 patent applications pending, indicating a rapid pace of innovation in the new energy sector [Gasgoo]. The company ranked among the top 10 in China for authorized independent invention patents in the auto industry in 2025, leading among secondary subsidiaries of central state-owned enterprises [Gasgoo].

Looking Ahead

Voyah’s dual focus on technological advancement and capital market positioning signifies a shift within the domestic new energy industry towards technology and value competition. The company’s approach of validating technology, gaining market acceptance, and securing capital support provides a potential model for the global expansion of Chinese premium new energy brands.