60页深度|奇瑞汽车：全球化+智能化，自主品牌先驱再进化【国信汽车】

Core Viewpoint - Chery Automobile, founded in 1997, has nearly 30 years of history and is entering a new era in 2025 with significant advancements in its electric vehicle (EV) and international business strategies [2][4]. Company Overview - Chery has a rich historical foundation, with rapid revenue growth and stable profitability in recent years. The company operates under five major brands: Chery, Jetour, iCAR, Exeed, and Zhijie, along with two overseas brands, Omoda and Jaecoo. It has extensive production capacity both domestically and internationally [3][50]. Development Stages - The company's development can be divided into five phases: 1. Layout and Investment Period (1997-2004) 2. Rapid Development Period (2005-2010) 3. Brand Accumulation Period (2011-2017) 4. Multi-Brand Restructuring Period (2018-2020) 5. Hybrid/Intelligent Transformation Period (2021-2024) [5][59]. Financial Performance - In the first three quarters of 2025, Chery achieved revenue of 214.83 billion yuan, a year-on-year increase of 17.94%, and a net profit of 14.365 billion yuan, up 28.19% [23][43]. - The company’s total sales volume reached 2.5157 million units in 2024, a 42.89% increase year-on-year, with overseas sales exceeding 1 million units for the first time [20][28]. Domestic Market Strategy - Chery's hybrid products are experiencing rapid growth, with a clear sub-brand strategy. The A9L model is expected to significantly boost the company's performance in the hybrid segment starting in the second half of 2025 [6][7]. - The company is focusing on enhancing the quality of its electric vehicle offerings, with a notable increase in the penetration rate of its hybrid products [7][32]. International Market Strategy - Chery has been expanding its international presence systematically, with plans for local production in multiple regions. By 2025, the company aims to deepen its overseas production capabilities, particularly in Southeast Asia and Europe [8][9]. - The company has transitioned from primarily exporting fuel vehicles to a comprehensive, ecosystem-based international strategy [9][56]. Brand Positioning - Chery's brand matrix includes: - Chery: Targeting family users with a focus on safety and quality. - Jetour: Catering to family travel and outdoor enthusiasts. - Exeed: Aiming at performance-oriented users. - iCAR: Targeting tech-savvy younger consumers. - Zhijie: Focusing on intelligent and high-performance vehicles [50][51][54]. Production Capacity - Chery has a robust domestic production capacity, primarily located in Wuhu, Anhui, with additional facilities in Henan, Liaoning, and Inner Mongolia. This allows the company to meet both domestic and international demand [56][57]. - The company is actively expanding its overseas production capabilities, with multiple production bases in Southeast Asia, Central Asia, South Asia, Europe, North Africa, and South America [56][57].