Group 1 - Chery Automobile successfully listed on the Hong Kong Stock Exchange, becoming the largest IPO of a car company in the market this year, with an opening price of HKD 34.2 per share, up 11.22% from the issue price [1][2] - The IPO raised approximately HKD 9.145 billion, with a total issuance of 297 million H-shares at an issue price of HKD 30.75 per share, marking a significant milestone after multiple attempts since 2004 [2][3] - The company aims to accelerate its electrification, intelligence, and global expansion strategies following its listing [2] Group 2 - 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 [3] - In Q1 2025, Chery reported a revenue of CNY 68.223 billion and a net profit of CNY 4.726 billion, reflecting a year-on-year growth of 90.9% [3] - The company is expected to lead in passenger car sales growth, with a projected 49.4% increase in 2024, outperforming other major global car manufacturers [3] Group 3 - The listing of Chery has prompted other major Chinese automotive brands, such as BYD, Great Wall Motors, and Geely, to also consider going public in Hong Kong, enhancing the market's vitality [4] - Following Chery's IPO, other companies like Avita Technology and Lantu Motors are planning to submit their listing applications, indicating a trend of increased activity in the Hong Kong automotive sector [5] - Analysts predict that the automotive sector will experience a high growth phase, supported by policies encouraging vehicle upgrades and a favorable market environment [6]
千亿汽车巨头奇瑞港交所敲锣
Mei Ri Shang Bao·2025-09-25 23:04