Group 1 - Chery Automobile launched its IPO on the Hong Kong Stock Exchange on September 17, with a share price range of HKD 27.75 to HKD 30.75, aiming to raise up to HKD 91.45 billion, potentially reaching HKD 105.17 billion if the over-allotment option is fully exercised [1] - The IPO plans to issue 297 million H-shares, representing 5.16% of the total shares post-issue, with 90% allocated for international offering and 10% for public offering, along with a 15% over-allotment option [1] - Thirteen cornerstone investors have committed to the IPO, with total subscriptions amounting to approximately HKD 45.73 billion, including significant investments from various funds and companies [1] Group 2 - The net proceeds from the IPO will primarily be used for R&D of various passenger car models, enhancing core technology capabilities, expanding overseas markets, upgrading production facilities in Wuhu, Anhui, and for general corporate purposes [2] - Chery Automobile is the second-largest independent passenger car brand in China and the eleventh largest globally, with a projected growth of over 25% in both electric and fuel vehicle sales in 2024 compared to 2023 [2] - The company has five brands, including Chery, Jetour, Exeed, iCAR, and Zhijie, each catering to different customer needs and preferences [2] Group 3 - Since 2003, Chery Automobile has been the top exporter of passenger cars among independent brands in China, with over 13 million vehicles sold globally across more than 100 countries and regions by August 2025 [3] - In 2024, Chery is expected to lead in sales among Chinese independent brands in Europe, South America, and the Middle East and North Africa, and rank second in North America and Asia (excluding China) [3] - The company's revenue for 2022, 2023, and 2024 is projected to be CNY 92.62 billion, CNY 163.20 billion, and CNY 269.90 billion, respectively, with net profits of CNY 5.81 billion, CNY 10.44 billion, and CNY 14.33 billion [3]
奇瑞汽车将于9月25日上市13家基石投资者认购近46亿港元