奇瑞汽车赴港IPO再递表：一季度利润增超90%至47亿元

Core Viewpoint - Chery Automobile has submitted its IPO application to the Hong Kong Stock Exchange, reporting a significant profit increase of over 90% in the first quarter of 2025, reaching 4.726 billion RMB [2][3]. Financial Performance - In Q1 2025, Chery Automobile achieved revenue of 68.223 billion RMB, a year-on-year increase of approximately 24.25%, with a profit of 4.726 billion RMB, reflecting a growth of 90.87% [2][3]. - Revenue and profit projections for 2022 to 2024 are as follows: - 2022: Revenue 92.618 billion RMB, Profit 5.806 billion RMB - 2023: Revenue 163.205 billion RMB, Profit 10.444 billion RMB - 2024: Revenue 269.897 billion RMB, Profit 14.334 billion RMB [3]. Debt and Financial Health - Chery's debt-to-asset ratio is significantly higher than the industry average, with figures of 93.1% in 2022, 91.9% in 2023, 87.9% in 2024, and 87.7% in Q1 2025, although a steady decline is observed [4]. Business Overview - Chery Automobile, established over 28 years ago, is headquartered in Wuhu, China, and has evolved from its origins as Anhui Automotive Parts Co., Ltd. to a publicly listed company [4]. - The company offers a diverse range of passenger vehicles, including both fuel and new energy vehicles, catering to the changing demands of domestic and international markets [5]. Sales Performance - In the first half of the year, Chery reported sales of 1.26 million vehicles, a year-on-year increase of 14.5%, with 550,000 units exported and nearly 360,000 units being new energy vehicles [5]. Shareholder Structure - Following a restructuring to flatten the shareholding structure and enhance liquidity, the major shareholders remain the same, with Wuhu Investment Holding, management, and employee shareholding platform, and Luxshare holding 21.17%, 18.25%, and 16.83% respectively [6][8].