Jing Ji Guan Cha Wang·2025-10-30 06:40Core Insights - Chery Automobile's recent Hong Kong IPO has positively influenced its supply chain, particularly benefiting Guoxuan High-Tech, which reported significant revenue and profit growth in its latest earnings report [2][3]. Financial Performance - Guoxuan High-Tech achieved approximately 10.11 billion yuan in revenue for Q3 2025, marking a year-on-year increase of 20.68%, with a net profit of about 2.17 billion yuan, up 1434.42% [2]. - For the first three quarters, Guoxuan High-Tech's revenue reached approximately 29.51 billion yuan, a 17.21% increase year-on-year, while net profit was around 2.53 billion yuan, reflecting a 514.35% growth [2]. - The substantial profit increase is attributed to the fair value changes from Chery's IPO, contributing approximately 2.44 billion yuan in Q3 and 2.44 billion yuan in the first three quarters [2]. Strategic Partnerships - Guoxuan High-Tech holds a 1.57% stake in Chery and has been a core battery supplier since 2012, providing batteries for various Chery brands [3]. - In 2022, Guoxuan High-Tech accounted for 43.4% of Chery's battery supply, maintaining its position as the largest battery supplier in the first half of 2023 [3]. Other Stakeholders - Luxshare Precision holds a 15.96% stake in Chery, valued at approximately 30.33 billion yuan, with a significant unrealized gain since its initial investment [4]. - CATL holds a 2.99% stake in Chery and reported strong financial performance in Q3, with revenues of about 104.19 billion yuan and a net profit of approximately 18.55 billion yuan [5][6]. Collaborative Efforts - CATL and Chery have established a comprehensive strategic partnership since 2022, focusing on battery supply, technology development, and joint branding [6]. - The collaboration includes the development of a joint battery brand and plans for standardized battery swapping solutions for various vehicle types [6]. Impact on Supply Chain - Other suppliers, such as Huada Technology, are also expected to benefit from Chery's IPO, anticipating increased orders and enhanced brand value due to Chery's expansion [6].