Core Viewpoint - Chery Automobile officially listed on the Hong Kong Stock Exchange on September 25, 2023, with an initial stock price surge of over 13%, stabilizing at a 10.44% increase, valuing the company at approximately HKD 195.86 billion [1][3]. Group 1: IPO Details - Chery's IPO was priced at HKD 30.75 per share, raising a total of HKD 9.14 billion, marking it as the largest IPO for an automotive company in Hong Kong this year [3]. - The funds raised will primarily be allocated for new model and technology development, expansion into overseas markets, and upgrades to production facilities [3]. Group 2: Company Performance - Chery is one of the last major unlisted automotive manufacturers in China, having attempted to go public multiple times since 2004 without success until now [3]. - In terms of sales, Chery achieved a record high of 2.604 million vehicles sold in 2022, representing a year-on-year growth of 38.4%, with Chery Automobile alone selling 1.61 million vehicles, a 31.1% increase [3][4]. - The company aims to reach a sales target of 2 million vehicles in 2023 [3]. Group 3: Market Position and Growth - Chery was the only company among the top twenty global passenger car manufacturers to see over 25% growth in sales across electric vehicles, fuel vehicles, and both domestic and international markets in 2023 [3]. - The average monthly sales of eight of Chery's models exceeded 10,000 units last year, with electric vehicle sales increasing by over 265% and revenue from electric vehicles rising by 645% [4]. Group 4: Financial Performance - Chery's revenue is projected to grow from CNY 92.618 billion in 2022 to CNY 269.897 billion by 2024, reflecting 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% [4]. - The company's debt-to-asset ratio peaked at 93.1% in 2022 but has since decreased to 87.7% by the first quarter of 2025 [4].
奇瑞汽车上市首日一度涨超13%，成港股今年最大车企IPO