Group 1 - Hong Kong automotive stocks rose against the trend, with XPeng Motors leading with a peak increase of over 8%, followed by Chery with over 5%, and NIO with nearly 3% [1] - According to a report by CICC, the transformation of China's automotive industry towards electric and intelligent vehicles is nearly complete, with expectations for the penetration rate of new energy vehicles in China to exceed 50% by 2025 [1] - By 2030, it is anticipated that Chinese domestic brands will achieve a production scale of nearly 30 million vehicles globally, with several companies potentially producing over 5 million vehicles annually [1] Group 2 - XPeng Motors announced its official entry into five European markets: Switzerland, Austria, Hungary, Slovenia, and Croatia, and signed a quantum security technology cooperation agreement with Alibaba Cloud [1] - Chery has achieved several significant milestones this year, including being the top exporter of Chinese automobiles, leading in SUV market share, and having the fastest growth in the Fortune Global 500 rankings [1] - BYD is intensifying its efforts to expand into the German market, the largest automotive market in Europe, by hiring senior executives to strengthen its operations [1]

Group 1: Chery Automobile's IPO - Chery Automobile officially listed on the Hong Kong Stock Exchange on September 25, 2023, marking the largest IPO for a car company in Hong Kong this year [1] - The IPO price was set at HKD 30.75 per share, raising approximately HKD 9.145 billion [1] - Revenue is projected to grow from CNY 92.618 billion in 2022 to CNY 269.897 billion in 2024, with a compound annual growth rate (CAGR) of 70.7%, while net profit is expected to rise from CNY 5.806 billion to CNY 14.334 billion, with a CAGR of 57.1% [1] Group 2: Shandong Gold International's Listing - Shandong Gold International submitted its prospectus to the Hong Kong Stock Exchange, aiming for a main board listing [2] - The company is recognized as one of China's leading gold producers, focusing on the exploration and mining of gold, silver, lead, and zinc [2] - It is noted for having the strongest profitability and cost-effectiveness among listed gold companies in China, with a projected net profit growth of 48.43% year-on-year for the first half of 2025 [2] Group 3: Shuanglin Technology's IPO - Shuanglin Technology has filed for an IPO on the Hong Kong Stock Exchange, with CITIC Securities and GF Securities as joint sponsors [3] - The company specializes in manufacturing intelligent components for automotive drive systems and is the second-largest global supplier of horizontal drive mechanisms (HDM) for automotive seats, holding a 15.1% market share [3] - The funds raised from the IPO are expected to support overseas capacity expansion and technological research and development [3] Group 4: Baiaosaitu's A-Share Issuance Approval - Baiaosaitu received approval from the Shanghai Stock Exchange for its A-share issuance and listing on the Sci-Tech Innovation Board [4] - The company plans to issue up to 99.8496 million A-shares, with proceeds aimed at enhancing early drug research services, antibody drug development, and clinical research projects [4] - Baiaosaitu has shown significant revenue growth and has turned profitable, leveraging its proprietary antibody platform [4]

Core Viewpoint - Chery Automobile's IPO on September 25, 2023, in Hong Kong was highly anticipated, reflecting strong market interest and confidence in the company's future growth potential [1][3]. Group 1: IPO Performance - Chery's stock opened at HKD 34.2 per share, an increase of 11.22% from the issue price, with an intraday high exceeding 13% [1]. - The closing price was HKD 31.92, representing a 3.8% increase from the issue price, and the market capitalization briefly surpassed HKD 200 billion [1][3]. Group 2: Investor Interest - The IPO saw significant investor demand, with the Hong Kong public offering being oversubscribed by 308.18 times, indicating strong confidence in the company's prospects [3]. - Notable cornerstone investors included Hillhouse HHLR, Shanghai Jinglin, Huangshan State-owned Assets Supervision and Administration Commission, and Horizon Robotics, collectively subscribing to a substantial portion of the offering [3]. Group 3: Financial Performance and Future Plans - Chery's revenue is projected to grow from CNY 92.618 billion in 2022 to CNY 269.897 billion in 2024, with net profit expected to rise from CNY 5.806 billion to CNY 14.334 billion, showcasing robust profitability [3]. - The funds raised from the IPO will primarily be allocated to the development of new energy vehicles, advanced technologies such as intelligent driving, and further expansion into overseas markets [3]. - Chery has maintained its position as the top exporter of Chinese self-owned brand passenger vehicles for 22 consecutive years, with 546,000 units exported in the first half of 2025, highlighting its strong international presence [3].

Core Viewpoint - Chery Automobile officially listed on the Hong Kong Stock Exchange on September 25, 2023, achieving a market capitalization of HKD 184.09 billion, making it the largest IPO in the Hong Kong automotive sector for the year [1]. Summary by Category Company Performance - Chery's stock price opened at HKD 30.75 per share and closed at HKD 31.92, reflecting a 3.80% increase on its first trading day, with an intraday rise exceeding 10% [1]. - The total market capitalization of Chery Automobile reached HKD 184.09 billion, surpassing competitors such as Xpeng Motors, Great Wall Motors, and NIO, ranking fourth among Hong Kong-listed automotive companies [1]. Market Position - Following the listing, Chery's market capitalization positioned it just below Geely Automobile, which has a market cap of HKD 186.686 billion, and above Xpeng Motors (HKD 164.817 billion) and Great Wall Motors (HKD 140.691 billion) [1][2]. - The top three automotive companies by market capitalization in Hong Kong are BYD (HKD 986.481 billion), Li Auto (HKD 218.370 billion), and Geely Automobile (HKD 186.686 billion) [2].

Core Viewpoint - Chery Automobile Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, marking a significant milestone as the largest IPO for an automotive company in Hong Kong since 2025, and indicating its entry into the international capital market [2][4]. Summary by Sections IPO Details - Chery's IPO involved a global offering of 297 million H-shares at an issue price of HKD 30.75 per share, raising approximately HKD 9.145 billion [4]. - The listing attracted 13 cornerstone investors, including notable institutions such as Hillhouse Capital and Jinglin Asset, reflecting strong confidence in the company's future [4]. - On the first trading day, Chery's shares opened at HKD 34.2, representing an increase of 11.22% from the issue price [4]. Leadership Statements - Chairman Yin Tongyue expressed gratitude to various stakeholders during the listing celebration, emphasizing the collective support that has driven Chery's growth from humble beginnings to a publicly listed company [6][9]. - He highlighted that the IPO represents a new starting point for Chery, aiming not only for commercial success but also for social value contributions [9]. Future Strategy and Growth - Chery plans to leverage capital to accelerate technological innovation and enhance its global presence, with a commitment to becoming a leader in the intelligent mobility ecosystem [9]. - The company aims to foster the growth of other enterprises, contributing to the vitality of the industry ecosystem [9]. Performance Metrics - Since its establishment in 1997, Chery has focused on industry innovation and international market penetration. It is projected that Chery's passenger vehicle sales will grow by 49.4% year-on-year in 2024, leading among the top twenty global passenger car companies [9][10]. - Chery has maintained its position as the top exporter of passenger vehicles among Chinese brands for 22 consecutive years, with strong sales in Europe, South America, and the Middle East [10]. Fund Utilization - The funds raised from the IPO will be allocated as follows: 35% for developing various passenger vehicle models, 25% for next-generation vehicles and advanced technologies, 20% for expanding overseas markets, 10% for enhancing production facilities in Wuhu, and 10% for working capital [11]. - This funding strategy reflects Chery's focus on increasing R&D investment, particularly in new energy and smart technologies, while solidifying its status as a leading exporter [11]. Financial Growth - Chery's revenue is projected to grow from CNY 92.618 billion in 2022 to CNY 269.897 billion in 2024, with net profit increasing from CNY 5.806 billion to CNY 14.334 billion during the same period [11]. - In Q1 2025, Chery reported revenue of CNY 68.223 billion and a net profit of CNY 4.726 billion, reflecting a substantial year-on-year growth of 90.9% [11]. Market Positioning - The successful listing on the Hong Kong Stock Exchange provides Chery with a long-term capital channel, enabling it to seize opportunities in the global automotive industry transformation and strive to enter the ranks of world-class brands [12].

Core Viewpoint - Chery Automobile Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, marking a significant milestone as the largest IPO for an automotive company in Hong Kong since 2025, and indicating its entry into the international capital market [1][2] Group 1: IPO Details - Chery's IPO involved a global offering of 297 million H-shares at an issue price of HKD 30.75 per share, raising approximately HKD 9.145 billion [1] - The stock opened at HKD 34.2 per share on the first day of trading, reflecting an increase of 11.22% from the issue price [1] - The IPO attracted 13 cornerstone investors, including notable institutions such as Hillhouse Capital and Jinglin Asset, demonstrating strong confidence in the company's future [1] Group 2: Future Strategy and Goals - The company aims to leverage capital to accelerate technological innovation, deepen global expansion, and strengthen its core automotive business while contributing to social value [2] - Chery aspires to become a leader in the intelligent mobility ecosystem, driven by innovation and global trust, contributing to the high-quality development of China's automotive industry [2] Group 3: Performance and Growth - Since its establishment in 1997, Chery has focused on industry innovation and international market penetration, with a projected 49.4% year-on-year increase in passenger car sales for 2024, ranking it among the top twenty global passenger car companies [2][3] - Chery has maintained its position as the top exporter of passenger cars among Chinese brands for 22 consecutive years, with strong sales in Europe, South America, and the Middle East [3] Group 4: Fund Utilization - The funds raised from the IPO will be allocated as follows: 35% for developing various passenger car models, 25% for next-generation vehicles and advanced technology, 20% for expanding overseas markets, 10% for enhancing production facilities in Wuhu, and 10% for working capital [4] - This funding strategy reflects Chery's focus on increasing R&D investment, particularly in new energy and smart technology, while accelerating its global expansion [4] Group 5: Financial Performance - Chery's revenue is projected to grow from CNY 92.618 billion in 2022 to CNY 269.897 billion in 2024, with net profit increasing from CNY 5.806 billion to CNY 14.334 billion [4] - In Q1 2025, the company reported revenue of CNY 68.223 billion and a net profit of CNY 4.726 billion, marking a significant year-on-year growth of 90.9% [4]

Core Viewpoint - Chery Automobile Co., Ltd. has successfully completed its IPO on the Hong Kong Stock Exchange, marking a significant milestone after 21 years of attempts, raising HKD 91.4 billion, making it the largest IPO for a car company in Hong Kong this year [1][3] Fundraising and Utilization - Chery issued approximately 297 million H-shares, with 10% allocated for public sale and 90% for international sale, including a 15% over-allotment option [3] - The net proceeds from the IPO will be allocated as follows: 35% for R&D of various passenger car models, 25% for next-generation vehicles and advanced technology, 20% for expanding overseas markets, 10% for enhancing production facilities in Wuhu, and 10% for working capital and general corporate purposes [3] Sales and Revenue Growth - Chery's global cumulative sales are projected to exceed 2.295 million units in 2024, representing a year-on-year growth of 49.4% [4] - The average selling price of Chery's passenger cars is expected to increase by 33.5% in 2024 compared to 2022, with domestic and international average selling price growth rates of 37.0% and 19.4%, respectively [4] - Chery's revenue and net profit have shown consistent growth, with revenues of CNY 926.18 billion, CNY 1,632.05 billion, CNY 2,698.97 billion, and CNY 682.23 billion for the years 2022, 2023, 2024, and Q1 2025, respectively [5] Shift to New Energy Vehicles - The revenue share from Chery's new energy vehicles is gradually increasing, with fuel vehicle revenue shares of 75.9%, 87.8%, and 69.6% from 2022 to 2024, while new energy vehicle revenue shares are 13.2%, 4.9%, and 21.9% for the same years [7] - In the first three months of 2025, revenue from fuel vehicles was CNY 429.74 billion (63% share), while revenue from new energy vehicles was CNY 186.65 billion (27.3% share) [7] Strategic Adjustments and Partnerships - Chery has made significant adjustments to its equity and organizational structure, introducing 13 cornerstone investors, which include various investment funds and asset management companies, collectively subscribing to approximately HKD 45.73 billion [8] - The company has restructured its organization into four major business units focusing on different product lines, including a partnership with Huawei to develop smart vehicles, with a planned investment of over CNY 10 billion [9] Market Context and Future Outlook - The global penetration rate of new energy vehicles is expected to rise from 23.0% in 2024 to 47.0% by 2030, indicating a strong market growth potential [6] - Chery's IPO is seen as a timely opportunity to secure funding for future development, enhancing its market position amid the rapid growth of the new energy vehicle sector [10][12]

Core Insights - Chery Automobile has successfully completed its IPO on the Hong Kong Stock Exchange, raising HKD 91.4 billion, marking the largest IPO for a car company in the Hong Kong market this year [1][2] - The company plans to allocate the net proceeds from the IPO to various strategic initiatives, including R&D for new vehicle models, advanced technology, international market expansion, and facility upgrades [1][2] Financial Performance - Chery's projected global sales for 2024 are over 2.295 million units, representing a year-on-year growth of 49.4% [2] - The average selling price of Chery's passenger vehicles is expected to increase by 33.5% in 2024 compared to 2022, with domestic and international price growth rates of 37.0% and 19.4%, respectively [2] - Revenue and net profit have shown consistent growth, with revenues of CNY 926.18 billion, CNY 1,632.05 billion, CNY 2,698.97 billion, and CNY 682.23 billion for the years 2022, 2023, 2024, and Q1 2025, respectively [2] Market Position and Strategy - Chery is focusing on enhancing its capabilities in the fields of new energy and intelligent vehicles, which require significant funding for R&D [3][4] - The revenue share from Chery's new energy vehicles is gradually increasing, with projections showing a rise from 4.9% in 2023 to 21.9% in 2024 [4] Investment and Shareholder Structure - The company has introduced 13 cornerstone investors, including various investment funds and asset management companies, which reflects a broad market recognition of Chery's potential [5] - Following the IPO, Chery's major shareholders include Wuhu Investment Holding, Ruichuang, and Luxshare, indicating a diversified ownership structure [5] Organizational Changes - Chery has restructured its organizational framework to align with strategic goals, creating four business units focused on different vehicle segments [6] - The company has also partnered with Huawei to enhance its R&D capabilities, committing over CNY 10 billion to develop smart vehicle technologies [6] Historical Context - Chery's journey to IPO has spanned 21 years, with various attempts and strategic shifts along the way, including a significant restructuring in 2019 to facilitate its public offering [7][8][9] - The current market conditions for electric vehicles are favorable, providing a timely opportunity for Chery to secure funding and enhance its market position [10]

格隆汇9月25日丨奇瑞汽车(09973.HK)宣布将于2025年9月30日(星期二)举行董事会会议，以(其中包括) 审阅及批准将载于公司即将刊发的中期报告的公司及其附属公司截至2025年6月30日止六个月的中期业 绩。 ...

（股份代號：9973） 董事會會議日期 奇瑞汽車股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈將於 2025年9月30日（星期二）舉行董事會會議，以（其中包括）審閱及批准將載於本公 司即將刊發的中期報告的本公司及其附屬公司截至2025年6月30日止六個月的中 期業績。 承董事會命 奇瑞汽車股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Chery Automobile Co., Ltd. 奇瑞汽車股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 尹同躍先生 董事長 香港，2025年9月25日 於本公告日期，董事會包括執行董事尹同躍先生及張國忠先生；非執行董事王來 春女士、李晶女士、王津華先生、王孝偉先生、鮑思語先生、尹祥領先生及胡敬 源先生；獨立非執行董事商文江先生、楊棉之先生、葉盛基先生、路風先生、楊 善林先生及黎汝雄先生。 ...