Core Viewpoint - Chery has established a domestic business group to streamline its brand structure and enhance operational efficiency ahead of its IPO in Hong Kong, aiming to boost investor confidence in its management and profitability [3][10]. Group 1: Organizational Changes - Chery has formed a domestic business group that includes four divisions: Xingtu, Aihui, Fengyun, and QQ, with a focus on high-end, classic, new energy, and small car products respectively [1][3]. - The Xingtu brand, previously operating independently, has been integrated into the domestic business group, with its marketing center manager now serving as the executive vice president of the Xingtu division [4][5]. Group 2: Sales Performance - The Xingtu brand has struggled to meet sales expectations, with a target of 60,000 units annually, but only achieving 51,000 units in 2022 and 125,500 units in 2023, marking a year-on-year increase of over 130% [5][6]. - The new Xingji series, launched in 2023, has not yet reached a monthly sales target of 10,000 units since its introduction [5][6]. Group 3: Financial Overview - Chery's revenue for the first three quarters of 2024 reached 182.15 billion yuan, a 67.7% increase year-on-year, with significant growth in new energy vehicle sales, which rose by 231% [14][16]. - Despite the rapid growth in new energy vehicle sales, traditional fuel vehicle sales remain the primary revenue source, accounting for 74.8% of total sales in the first three quarters of 2024 [16]. Group 4: Market Position and IPO Strategy - Chery is positioned as the second-largest independent passenger car brand in China and the eleventh globally, as per sales data [15]. - The company aims to complete its IPO by 2025, focusing on brand enhancement, internationalization, and management improvements [10][20].

Core Points - The 21st Shanghai International Automobile Industry Exhibition will take place from April 23 to May 2, 2025, at the National Exhibition and Convention Center (Shanghai) [1] - The exhibition is expected to feature over 100 new models and attract more than 906,000 visitors, surpassing the previous attendance record [3] - The event will coincide with the May Day holiday for the first time, enhancing its appeal to the public [3] Group 1: Key Exhibitors and Models - SAIC Audi A5L is set to officially launch at the exhibition, expected to be a focal point due to its youthful and sporty characteristics [6] - SAIC Volkswagen will unveil five new vehicles, including its first range-extended concept car [6] - Chery will showcase several models, including the new Chery QQ in a new energy format and the Chery "Falcon Smart Driving" intelligent solution [10] Group 2: New Energy and Luxury Brands - Hongqi will present its new energy vehicle Tian Gong 06 and the PHEV version of Hongqi H5, alongside a new generation HS7 [18] - Mercedes-Benz will highlight its Vision V concept car and the new long-wheelbase electric CLA, both making their global debuts [14] - BYD will launch the Song L concept car and the Tengshi SUPER9, which aims to compete with the Porsche 911 [25] Group 3: Emerging and Established Players - NIO will showcase the ET9 and the controversial "Firefly" model, while BMW will present the new generation driving pleasure concept car and the global debut of the BMW X3 M50 xDrive [21] - Geely will feature the Galaxy Star 8, positioned as a luxury choice in the mid-large hybrid sedan market, and the Zeekr 9X, which boasts advanced hybrid technology [18] - The exhibition will also see the debut of Xiaomi's SU7 Ultra track version, while Leap Motor will present its compact electric SUV B10 and electric sedan B01 [34] Group 4: Event Logistics - The exhibition will have a structured schedule, with media days on April 23-24, professional audience days on April 25-26, and public audience days from April 27 to May 2 [46] - Tickets will be electronic, and attendees are encouraged to purchase them in advance through the official channel [46] - Due to expected congestion around the venue, public transportation is recommended for attendees [47]