On March 19, VOYAH Automotive Technology Co., Ltd., the premium new energy vehicle division of Dongfeng Motor Corporation, made a significant entry into the Hong Kong Stock Exchange under the stock code 07489.HK. This milestone marks the first listing of a state-owned Chinese company's premium electric vehicle on this exchange.
The listing was executed through an introduction method, which does not involve the issuance of new shares or the raising of fresh capital. Instead, it provides the brand with its own stock market presence and enhances its visibility among international investors. A total of 885,381,529 H shares were listed on Hong Kong's main market.
Dongfeng Motor celebrated this achievement on its official channels, emphasizing the significance: "A step forward, together. VOYAH is officially listed on the Hong Kong Stock Exchange (07489.HK), opening a new chapter in its global expansion. Driven by innovation and a vision of smart mobility, VOYAH continues to grow."
This stock market debut is part of a broader corporate restructuring. As VOYAH carved out its own financial market space, Dongfeng Motor Group completed its delisting from Hong Kong. The parent company's last trading day was March 10, and shareholders received 0.3552608 VOYAH shares for each Dongfeng share, plus HKD 6.68 in cash.
From its listing application in October 2025 to its March 2026 debut, VOYAH navigated the complex approval process in less than six months.
Impressive Growth and Market Performance
VOYAH's debut was underpinned by robust financial figures. From 2023 to 2025, sales surged from around 50,300 units to 150,200 units, achieving a compound annual growth rate of 72.8%. In 2025, for the first time, VOYAH reached a net profit of RMB 1.020 billion, with a gross margin of 20.9%.
Delivery statistics from HKEX further highlight this success: in March 2026, the brand delivered 15,806 vehicles, a 20.5% increase from March 2025. The VOYAH FREE led the charge with 8,952 units, followed by the VOYAH DREAMER with 5,391 and the VOYAH PASSION with 1,463. First-quarter cumulative deliveries hit 38,392 units, up 11.8% year-over-year.
Innovative Launch and Cuban Expansion
Just days before the stock debut, VOYAH unveiled its flagship SUV, the Tai Shan Ultra, the world's first mass-produced vehicle equipped with a 896-line imaging LiDAR capable of detecting obstacles as small as 30 centimeters from 162 meters away. The special "Black Knight" edition launched at a price of RMB 509,900.
In Cuba, Dongfeng Cuba represents the brand, offering models like the Voyah Free+ hybrid SUV (starting at €44,900) and the seven-seat Voyah Dream PHEV (starting at €64,900). Concurrently, Dongfeng Cuba announced the development of 11 new electric charging stations across the island in collaboration with the Ministry of Transport. These will operate independently of the national grid, utilizing their own photovoltaic systems.
Dongfeng's push in the electric vehicle market is also evident in its latest technological advancements: in partnership with Huawei, Dongfeng unveiled the Yijing X9 and Epicland X9 SUVs, showcasing the group's commitment to high-level smart mobility.
Lu Fang, VOYAH's president, outlined the company's future plans following the listing: "We will continue to pursue high-quality and long-term development, providing our users with excellent products and services."
VOYAH's Market Impact and Future Plans
What is the significance of VOYAH's listing on the Hong Kong Stock Exchange?
VOYAH's listing is significant as it marks the first premium electric vehicle brand from a state-owned Chinese company to be listed on the Hong Kong Stock Exchange. This provides the brand with greater visibility and presence in the international investment community.
How has VOYAH's sales performance been in recent years?
VOYAH's sales have shown impressive growth, increasing from approximately 50,300 units in 2023 to 150,200 units in 2025. This represents a compound annual growth rate of 72.8%, and the brand achieved profitability with a net profit of RMB 1.020 billion in 2025.
What technological advancements has VOYAH recently introduced?
VOYAH recently launched the Tai Shan Ultra SUV, featuring the world's first mass-produced vehicle equipped with 896-line imaging LiDAR, capable of detecting small obstacles from distances of up to 162 meters. This highlights their commitment to cutting-edge smart mobility solutions.