Core Viewpoint - Chery Automobile is set to list on the Hong Kong Stock Exchange on September 25, 2025, marking a significant milestone in its global expansion and technological transformation strategy, which will have a profound impact on the automotive industry landscape [1][11]. Group 1: Company Overview - Founded in 1997, Chery Automobile has evolved into a global passenger vehicle enterprise, with a complete industrial system in engine, transmission, and chassis manufacturing [2]. - Chery has sold over 13 million vehicles globally and has been the top exporter of Chinese passenger vehicles for 22 consecutive years since 2003, showcasing its strong competitiveness and brand influence in international markets [2][3]. Group 2: Financial Performance - Chery's global sales reached 2.295 million units in 2024, with a year-on-year growth of 49.4%, making it the only company among the top 20 global passenger vehicle manufacturers to achieve over 25% growth in both new energy and fuel vehicle sales [3][4]. - The company reported revenues of RMB 926.18 billion in 2022, RMB 1,632.05 billion in 2023, and projected RMB 2,698.97 billion in 2024, with a compound annual growth rate of 70.7% [4][5]. Group 3: Technological Advancements - Chery has established a comprehensive technology system focusing on key areas such as engine, transmission, electric drive, and battery safety systems, with significant investments in R&D [6][7]. - The company has increased its R&D expenditure from RMB 3.646 billion in 2022 to RMB 9.243 billion in 2024, reflecting a compound annual growth rate of 59.2% [6]. Group 4: Global Market Strategy - Chery has achieved significant sales growth in overseas markets, ranking first among Chinese brands in Europe, South America, and the Middle East, and second in North America and Asia (excluding China) [4][10]. - The company has established eight R&D centers globally and is actively localizing production to enhance competitiveness and meet local market demands [7][10]. Group 5: IPO Impact - Chery's IPO is the largest for an automotive company in recent years, raising over $1 billion, which will be used to enhance R&D, expand product offerings, and strengthen its global market presence [11]. - The successful listing is expected to attract significant capital into the Hong Kong automotive sector, boosting market activity and investor confidence [11][12].
奇瑞汽车（09973）完成IPO里程碑：全球化领航，开启科技智能转型新征程