从安徽砖瓦厂到年入2700亿，奇瑞汽车终于敲钟了！

Core Viewpoint - Chery Automobile has successfully completed its IPO on the Hong Kong Stock Exchange, raising HKD 9.14 billion and achieving a market capitalization of nearly HKD 200 billion, marking it as the largest IPO of a car company in Hong Kong this year [3][4]. Company Background - Founded by Yin Tongyue in 1997 with a startup capital of only CNY 300,000, Chery has evolved from a struggling startup to a leading automobile manufacturer in China, ranking second among domestic passenger car brands in 2024 with sales of nearly 2.3 million vehicles and revenue of CNY 269.9 billion [3][6][11]. - Chery has maintained its position as the top exporter of Chinese automobiles for 22 consecutive years, with a significant focus on international markets since its inception [19][20]. Financial Performance - In 2024, Chery's revenue from fuel vehicles accounted for 83% of total revenue, while new energy vehicles contributed 17% [4][23]. - The company reported a net profit of CNY 14.3 billion in 2024, reflecting its strong financial health [3]. Investment and Shareholding Structure - Major shareholders include Anhui Wuhu Investment Holding and Luxshare Precision, with the latter holding a 16.83% stake as it expands into automotive manufacturing [17][18]. - The IPO proceeds will primarily be allocated to the development of new energy and intelligent vehicles, indicating a strategic shift towards electrification [4][23]. Historical Challenges and Milestones - Chery's journey to IPO has been fraught with challenges, including multiple failed attempts since 2004 due to various market and regulatory obstacles [12][14]. - The company has made significant strides in technology, including the successful development of its first engine in 1999, which laid the foundation for its vehicle manufacturing capabilities [9][11]. Market Position and Future Outlook - Chery has established a strong presence in international markets, exporting vehicles to over 100 countries and setting up manufacturing facilities in regions such as Malaysia and Brazil [20][21]. - The company is poised to capitalize on the growing demand for electric vehicles and aims to enhance its product offerings in the new energy sector [23].