预计本月中下旬在港挂牌上市，募资规模至多可达 20 亿美元。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO 早知道消息， 奇瑞汽车 股份有限公司（以下简称"奇瑞"）日前通过港交所聆讯并于 9 月 7 日披露通过聆讯后的资料集，中金公司、华泰国际和广发证券（香港）担任联席保荐人。 「 IPO 早知道」获悉，奇瑞汽车预计本月中下旬在港挂牌上市，募资规模至多可达 20 亿美元。 根据弗若斯特沙利文的资料，以 2024 年全球乘用车销量计算，成立于 1997 年的 奇瑞 现已成为 中国第二大自主品牌乘用车公司和全球第十一大乘用车公司。 2024 年，奇瑞是全球前二十大乘用车公司中唯一一家新能源汽车销量、燃油车销量、中国市场销量 及海外市场销量较 2023 年均增长超过 25.0% 的乘用车公司。其中， 2024 年奇瑞乘用车销量同 比增速位居全球前二十大乘用车公司之首。 目前，奇瑞旗下拥有大众汽车品牌「奇瑞」、越野旅行汽车品牌「捷途」、科技豪华汽车品牌「星 途」、最懂年轻人的汽车品牌「 iCAR 」以及智能新能源汽车品牌「智界」五大品牌。 2024 年， 奇瑞全 ...

Core Viewpoint - Chery Automobile is making significant progress towards its Hong Kong IPO, with the China Securities Regulatory Commission approving its application for overseas issuance and "full circulation" of unlisted shares [1][2][4]. Group 1: IPO Details - Chery plans to issue up to 699 million overseas listed ordinary shares and convert 2.016 billion unlisted shares held by 18 shareholders into shares for overseas listing [1][4]. - The top five shareholders applying for full circulation include Anhui Credit Financing Guarantee Group Co., Ltd. (27.3 million shares), Wuhu Investment Holding Group Co., Ltd. (21.9 million shares), Wuhu Ruichuang Investment Co., Ltd. (21 million shares), Ningbo Meishan Bonded Port Area Wending Investment Co., Ltd. (17.2 million shares), and Qingdao Xincheng Haishun New Energy Vehicle Partnership (15.5 million shares) [4]. Group 2: Financial Performance - Chery's revenue for 2022 and 2023 was 92.618 billion and 163.205 billion respectively, with net profit increasing from 5.806 billion in 2022 to 10.444 billion in 2023, a nearly 80% increase [10]. - For the first three quarters of 2024, Chery achieved revenue of 182.154 billion, a year-on-year increase of 67.7%, and net profit of 11.312 billion, up 58.5% [10]. Group 3: Market Position and Strategy - Chery ranked first among Chinese brands in passenger car exports, with over 1.14 million units exported in 2024, marking a 21.4% increase and setting a new record for Chinese automakers [10]. - The company is focusing on electric and intelligent vehicle development, with plans to invest over 100 billion in core technology research over the next five years [12]. Group 4: Government Support - The Anhui provincial government supports Chery's IPO, with initiatives aimed at accelerating the listing process as part of its 2025 work priorities [5].

Core Viewpoint - Chery Automobile is making significant progress towards its Hong Kong IPO, with the China Securities Regulatory Commission approving its application for overseas issuance and "full circulation" of unlisted shares [1][4]. Group 1: IPO Details - Chery plans to issue up to 699 million overseas listed ordinary shares and convert 2.016 billion unlisted shares held by 18 shareholders into shares for listing on the Hong Kong Stock Exchange [1][4]. - The company submitted its listing application to the Hong Kong Stock Exchange on February 28, 2025, marking a new phase in its 20-year IPO journey [4][5]. - The top five shareholders applying for full circulation include Anhui Credit Financing Guarantee Group Co., Ltd. and Wuhu Investment Holding Group Co., Ltd., with share applications ranging from 155 million to 273 million shares [4]. Group 2: Financial Performance - Chery's revenue for 2022 and 2023 was 92.618 billion yuan and 163.205 billion yuan, respectively, with net profit increasing from 5.806 billion yuan in 2022 to 10.444 billion yuan in 2023, a nearly 80% increase [10]. - For the first three quarters of 2024, Chery achieved revenue of 182.154 billion yuan, a year-on-year growth of 67.7%, and net profit of 11.312 billion yuan, up 58.5% [10]. - In 2024, Chery sold 2.6039 million new vehicles, a 38.4% increase year-on-year, with exports exceeding 1.14 million units, marking a 21.4% growth and setting a record for Chinese automotive exports [10]. Group 3: Strategic Initiatives - Chery is focusing on electric and intelligent vehicle development, with plans to invest over 100 billion yuan in core technology research over the next five years [12]. - The company is exploring new directions such as low-altitude economy, robotics, and artificial intelligence, including a recently filed patent for a modular flying car [12]. - The funds raised from the IPO will be used for expanding product lines, enhancing core technology capabilities, and supporting global market expansion [11].

Core Viewpoint - Chery Automobile Co., Ltd. plans to issue up to 699 million overseas listed ordinary shares and convert 2.016 billion domestic unlisted shares into overseas listed shares for trading on the Hong Kong Stock Exchange [1][4] Financial Performance - Chery's revenue for the years 2022, 2023, and the first nine months of 2024 was 92.618 billion, 163.205 billion, and 182.154 billion respectively, indicating continuous growth [4] - Net profit figures for the same periods were 5.806 billion, 10.444 billion, and 11.312 billion respectively [4] Product Segmentation - Chery operates five major brands: Chery, Jetour, Exeed, iCAR, and Zhijie, with the mainstream pricing of these brands being below 200,000 yuan, except for Zhijie [4] - Fuel vehicle revenue remains a significant contributor to Chery's income, accounting for 75.9%, 87.8%, and 74.8% of total revenue in 2022, 2023, and the first nine months of 2024 respectively [4] - The revenue share from new energy vehicles was 13.2%, 4.9%, and 16.0% for the same periods [4] IPO Process - According to the Hong Kong Stock Exchange's IPO process, the validity period for submitted prospectuses is six months, after which they automatically expire if the listing hearing or process is not completed [4] - Chery's application submitted on February 28 will reach the six-month mark by August 28, necessitating timely action to avoid expiration [4]

Core Viewpoint - Chery Automobile is shifting its focus from pursuing sales volume to prioritizing quality and brand innovation, as emphasized by Chairman Yin Tongyue during the 2025 China Automotive Forum [3][4][52]. Group 1: Company Strategy - Chery is currently in a critical phase as it prepares for its IPO, with significant organizational restructuring underway to enhance brand management and operational efficiency [7][12][53]. - The company has established a "Domestic Business Group" to streamline its brand matrix and improve resource integration [11][13]. - Chery's revenue for the first nine months of 2024 is projected to exceed 250 billion, reflecting a 67.7% year-on-year growth, with a profit of 11.3 billion [25][26]. Group 2: Market Position and Performance - In the first half of 2024, Chery delivered 1.26 million vehicles, marking a 14.5% increase year-on-year, although export growth has slowed to 3.3% compared to 29.4% the previous year [44][45][46]. - The company's gross margin for passenger vehicles improved to 15.9%, up nearly 3 percentage points from the previous year, driven by increased export sales [47][48]. - As competition intensifies in both domestic and international markets, Chery aims to avoid price wars while maintaining cash flow and market share [50][52]. Group 3: Technological Integration - Chery is consolidating its smart driving initiatives by integrating subsidiaries into a newly formed "Intelligent Center," which focuses on smart cockpit and assisted driving technologies [28][29][40]. - The integration of various technological units is expected to enhance collaboration with suppliers and streamline R&D processes [39][40]. - Yin Tongyue has expressed a commitment to advancing smart driving capabilities, indicating a willingness to collaborate with external partners for technological development [41].

（原标题：奇瑞五小时"硬碰硬"测试，新老车型都将上阵） 从官方披露的过往进展看，奇瑞在安全技术领域已有二十余年研发基础：2003年成立国内首个碰撞仿真 团队，2008年奇瑞A3成为首个获得C-NCAP五星成绩的中国品牌A级车；2023年，星纪元ES获得中国品 牌首个新能源车NESTA六维电安全认证。2024年，奇瑞在其安全试验室开展的实车碰撞测试预计将超 过1500台次，密度居业内前列。 在智能化、电动化高度同质的竞争格局中，车辆安全能力的透明化展示正在成为主机厂新的差异化路 径。作为一家以工程体系和制造基础著称的传统自主品牌，奇瑞此次选择以高强度实测展示其安全技 术"硬实力"，或意在重塑市场对其整车工程能力的认知。 据介绍，活动当晚，奇瑞将在五小时内连续进行多项碰撞实测，包括正面、侧面等典型工况的"硬碰 硬"演示测试，相关内容将同步直播，以模拟真实交通事故场景。值得注意的是，此次奇瑞还将进行十 年车龄以上经典车型的碰撞验证，强调对老旧车型安全性能的历史性回溯。 安全之夜期间，试验室内部将划分为四大功能专区：安全试验场、安全档案馆、安全透视镜与安全大讲 堂。其中，安全试验场将展出奇瑞旗下奇瑞、星途、捷途、iC ...

Key takeaways: ▶ 奇瑞汽车是全球前20大乘用车公司中唯一在截至去年九月的九个月内实现传统和新能源车销售 增长超过30%的企业 奇瑞汽车股份有限公司 周五提交了香港IPO申请，公司目前是中国少数尚未上市的主要汽车制造商之一。 本次IPO预计将成为今年香港规模最大的IPO之一。 奇瑞汽车总部位于中国安徽，公司凭借其近年来快速增长的表现吸引大量投资者的青睐。根据其招股书中 的市场数据，奇瑞汽车引领着中国成为全球最大的汽车出口国浪潮，连续22年在中国品牌乘用车公司中出 口量排名第一。 此次IPO由中国领先的投行中国国际金融香港证券，以及国内同行华泰金融控股和广发证券担任联席保荐 人。 成立于1997年的奇瑞汽车是中国主要的乘用车制造商之一并且是中国最早的汽车出口商之一，奇瑞汽车早 在2001年就进入了中东市场，并在2004年实现了出口超过1,000辆的小里程碑。 About Us Bamboo Works 咏竹坊 专注于报道中概股新闻。用高质量的中英文内容帮助中国企业讲好中国股 事，触达全球投资者。 我们的报道也通过全球各大财经平台进行分发。日均触达200,000人次的全球投资者。 如需咨询，请联系 ...