Core Viewpoint - Chery Automobile has successfully completed its long-awaited IPO, with subscription dates from September 17 to 22 on the Hong Kong Stock Exchange, marking a significant milestone for the company after 21 years of efforts [3][10]. Group 1: Company Overview - Chery Automobile Co., Ltd. was founded in 1997 and is headquartered in Wuhu, China, producing both fuel and new energy vehicles, with a market presence in over 100 countries and regions [3]. - In 2024, Chery is projected to sell 2.6039 million vehicles, with exports exceeding 1.1445 million units, maintaining its position as the top Chinese brand in passenger car exports for 22 consecutive years [5]. Group 2: Financial Performance - Chery's revenue for 2022, 2023, and 2024 is expected to be RMB 92.618 billion, RMB 163.205 billion, and RMB 269.897 billion, respectively, with net profits of RMB 5.806 billion, RMB 10.444 billion, and RMB 14.334 billion for the same years [6][7]. - The first quarter of 2025 shows a revenue of RMB 68.223 billion, representing a year-on-year growth of 24.25%, and a net profit of RMB 4.726 billion, reflecting a significant increase of 90.87% [6]. Group 3: Market Position and Valuation - Chery is ranked first among the top twenty global passenger car companies, with a notable year-on-year growth of 49.4% in revenue for 2024 [5]. - The company has a low valuation, with a maximum expected price-to-earnings ratio of no more than 10 times, indicating a significant discount compared to industry peers [10].
【港股IPO】奇瑞汽车，21年7次冲击IPO，入场费3106港元