Core Insights - Chery Automobile is the only company among the top 20 global passenger car manufacturers to achieve over 30% sales growth in both traditional and new energy vehicles in the nine months ending last September [1] - Chery has submitted an IPO application in Hong Kong, which is expected to be one of the largest IPOs in the region this year [1] - The company has seen significant growth, becoming the second largest independent passenger car brand in China and the eleventh largest globally, with a sales increase of 51.8% to 1.54 million vehicles in the first nine months of last year [2] Financial Performance - In the first nine months of 2024, Chery's revenue grew by 67.7% year-on-year, reaching 182 billion RMB, while net profit increased by 58.5% to 11.3 billion RMB [2] - The company has multiple brands under its umbrella, including Chery, Jetour, Exeed, iCAR, and Zhijie [2] Global Expansion - Chery is expanding its global market presence, with assembly operations in Malaysia and new joint venture production bases being established in Vietnam and Thailand [2] - The funds raised from the IPO will be used for overseas expansion, development of new high-tech vehicle models, and upgrading production lines at its headquarters in Wuhu [2] Company Background - Founded in 1997, Chery is one of China's major passenger car manufacturers and one of the earliest exporters of automobiles from China [2] - The company entered the Middle Eastern market in 2001 and achieved a milestone of exporting over 1,000 vehicles in 2004 [2]
新闻概要:乘用车龙头奇瑞汽车递表港交所香港IPO
BambooWorks·2025-03-03 00:34