Dongfeng Motor Rus (Dongfeng in Russia)

Performance indicators

2024: Revenue growth by 32% to 10.85 billion rubles

At the end of 2024, the Russian subsidiary of the Chinese automotive company Dongfeng (Dongfeng Motor Rus LLC) recorded revenue of 10.85 billion rubles. This is 32.7% more than in the previous year, when 8.17 billion rubles were received. Such data are reflected in the financial statements, which TAdviser reviewed in early August 2025.

The cost of sales on an annualized basis increased by one and a half times - from 6.84 billion rubles to 10.27 billion rubles. Other revenues approximately doubled, reaching 59.88 million rubles against 29.07 million rubles in 2023. At the same time, other expenses soared six times - from 521.4 million rubles to 3.15 billion rubles. Commercial costs decreased from 254.13 million rubles to 181.68 million rubles, that is, by 28.5%. Management expenses are not specified in the accounting documentation.

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Фото: Bloomberg

Revenues from the sale of products, goods, works and services rose by 144%, reaching 19.62 billion rubles against 8.04 billion rubles in 2023. Payments to suppliers (contractors) for raw materials, materials, works and services fell by 84.5% - from 5.6 billion rubles to 869.63 million rubles. Expenses in connection with the remuneration of employees increased by 47.5% - from 48.1 million rubles to 70.95 million rubles. Under the article "other payments" there was an increase of 370.4% with a final result of 15.74 billion rubles against 3.35 billion rubles in 2023.

Gross profit decreased by 56.6% - from 1.34 billion rubles in 2023 to 579.12 million rubles in 2024. Profit from sales fell from 1.08 billion rubles to 397.45 million rubles (minus 63.3%). In 2024, the company suffered net losses in the amount of 1.83 billion rubles, while a year earlier it showed a net profit of 471.84 million rubles. Accounts payable as of December 31, 2024 amounted to 9.78 billion rubles against 2.44 billion rubles a year earlier.^[1]

2023: Revenue growth by 5 times to 8.2 billion rubles

The revenue of the official representative office of the Chinese automaker Dongfeng in Russia in 2023 reached 8.2 billion rubles, which is 5.1 times more than a year earlier (1.61 billion rubles). Net profit of Dongfeng Motor Rus LLC during this time rose by 53%, to 472 million rubles. The company released such data in February 2024.

According to Interfax, citing the financial statements of Dongfeng Motor Rus LLC, in 2023 the cost of sales jumped almost sevenfold, above 6.8 billion rubles. Commercial expenses increased 1.9 times to 254 million rubles. The company's gross profit amounted to more than 1.3 billion rubles.

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Фото: Dongfeng Russia

The total debt of the Russian subsidiary Dongfeng by the end of 2023 increased by 82.4% compared to the same period in 2022 - up to 2.6 billion rubles. In particular, short-term liabilities jumped almost 14 times to 2.5 billion rubles due to an increase in accounts payable by more than 2.4 billion rubles. The distributor's long-term liabilities, on the contrary, decreased to 103 million rubles from 1.2 billion rubles at the beginning of 2023.

From the materials of Dongfeng Motor Rus LLC, it also follows that in 2023 the company purchased cars and spare parts worth 4 billion rubles. Its main debtor was Motorinvest (has an agreement on the distribution of Dongfeng cars on the Russian market), whose debt for the received cars at the end of 2023 amounted to 234 million rubles. In general, in 2023, receivables from the Russian representative office of Dongfeng increased by 80% and amounted to 609 million rubles.

By the end of 2023, Dongfeng products in Russia were represented mainly by models of the premium brand of Voyah. According to the manufacturer's own data, Voyah took first place in sales of electric vehicles and hybrid cars in the premium segment in Russia.^[2]

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