Core Viewpoint - Chery Automobile's chairman, Yin Tongyue, openly criticized the company's own practices during the 2025 China Automotive Forum, admitting that Chery tends to follow others in both good and bad actions, raising questions about the company's integrity and strategy in the competitive automotive market [2][4]. Group 1: Smart Driving Promotion - Chery has been accused of promoting its smart driving technology in defiance of government regulations, with Yin claiming that Chery is the leader in smart driving despite the Ministry of Industry and Information Technology's (MIIT) warnings against exaggerated claims [4]. - The company has faced challenges in its smart technology development, leading to the consolidation of its subsidiaries into a unified "Chery Smart Center" to improve efficiency, indicating that progress has not met expectations [4][5]. Group 2: Price Wars and Competition - Despite publicly opposing "price wars" and "involution" in the automotive industry, Chery has engaged in aggressive pricing strategies, offering significant discounts on over 30 models, with price reductions reaching up to 55,000 yuan [5][6]. - Chery's executives have made contradictory statements regarding price competition, with one acknowledging that such competition has provided opportunities for Chinese brands, highlighting the complexity of the market dynamics [8]. Group 3: Negative Comments on Competitors - Chery's marketing executive publicly disparaged a competitor's vehicle, calling it "junk," which led to backlash and forced the company to issue a statement condemning such behavior as against company policy [9][10]. - The incident reflects a broader issue within the company regarding public relations and competitive conduct, prompting internal actions against the responsible parties [9]. Group 4: Subsidy Reduction - Chery faced a reduction of over 140 million yuan in government subsidies due to non-compliance with documentation requirements during the 2016-2020 period, raising concerns about the company's operational practices [10]. - The company defended itself by stating that the documentation requirements were not in place during the sales period, indicating a potential misalignment between regulatory expectations and operational realities [10].

Group 1: US-China Trade Relations - The US and China recognize the importance of bilateral economic relations for both countries and the global economy [3] - Both parties commit to modifying tariffs on each other's goods, with a significant reduction of tariffs planned by May 14, 2025 [3][4] - The US will suspend 24% of tariffs on Chinese goods for the first 90 days, while retaining 10% of the tariffs, and will cancel additional tariffs as specified [3] - China will similarly suspend 24% of tariffs on US goods for the first 90 days and cancel other tariffs as outlined [3] Group 2: Market Reactions - Following the positive developments in US-China trade negotiations, major US stock indices saw significant gains, with the Nasdaq rising over 4% [7] - Large tech stocks experienced substantial increases, with Apple up over 6% and Amazon rising over 7% [9] - Chinese stocks also surged, with the Nasdaq Golden Dragon China Index increasing by over 5% and several Chinese companies seeing gains of 8% or more [9] Group 3: Corporate Responses - Changjiang Holdings responded to shareholder inquiries regarding a port transaction, emphasizing that the transaction will comply with all legal and regulatory requirements [5][6] - The company clarified that the completion of the transaction depends on various conditions, including necessary approvals and absence of legal prohibitions [6]

Group 1 - The core viewpoint of the article highlights the competitive tension between Chery and Geely, particularly following negative comments made by Chery's marketing executive about Geely's new car, the Galaxy Star 8 [1][2]. - Geely's Galaxy Star 8, a mid-to-high-end hybrid sedan, was launched on May 9, with a price range of 115,800 to 155,800 yuan, and is noted for its competitive pricing and features, putting pressure on rival models [1]. - Chery's upcoming model, the Wind Cloud A9, is expected to be priced around 100,000 yuan and will directly compete with the Galaxy Star 8, indicating a significant market rivalry [1]. Group 2 - Following the controversy, Chery's executive, Yao Fei, disbanded the related social media group and made his account private, reflecting the backlash from the comments made [2]. - The article mentions that both Chery and Geely have not yet issued official responses regarding the incident, suggesting ongoing tension in the competitive landscape [2].

Core Viewpoint - The core philosophy of Chery's marketing emphasizes that "products are the ship, and marketing is the sail," highlighting the importance of product quality and user experience over mere marketing tactics [1][4]. Group 1: Product and Marketing Strategy - Chery's marketing strategy is focused on returning to product quality and user experience, asserting that marketing should authentically reflect issues rather than relying on short-term effects [4]. - The "Old Ox Culture" of Chery promotes long-term value and continuous iteration, aiming to create high-quality, cost-effective products that resonate with consumers [4]. - The younger consumer demographic is less sensitive to brand reputation and more focused on the balance of price and quality, necessitating that Chery provides products that meet these expectations [4]. Group 2: Product Launch and International Presence - At the Shanghai Auto Show, Chery showcased 53 new models across its five brands, demonstrating significant product launch capabilities [6]. - Chery's participation in international events has increased, with over 5,000 overseas guests expected at the 2025 Shanghai Auto Show, indicating a strong push towards global market engagement [6][7]. - The company aims to enhance the global perception of Chinese automobiles, allowing international audiences to experience the diversity and quality of Chinese automotive products [7].

Group 1 - The core focus of Chery's IPO is to raise funds for expanding its product lineup, enhancing core technology capabilities, and executing global strategies [1][3] - Chery submitted its IPO application to the Hong Kong Stock Exchange on February 28, 2023, and is currently in the silent period of the listing process [1][3] - The company aims to utilize the raised funds for research and development of various passenger vehicle models and to improve production facilities [1][3] Group 2 - Chery exported approximately 255,000 vehicles in the first quarter of this year, with total overseas sales reaching 1.1446 million units last year [3] - The Shanghai Auto Show 2025 highlighted Chery's internationalization efforts, with the company inviting a record 5,000 overseas guests and partners [3][4] - Chery showcased multiple brands and new models at the Shanghai Auto Show, including the all-new QQ and the瑞虎9L concept car, indicating a shift towards becoming a global technology mobility enterprise [4]

Group 1 - Chery Group showcased 53 models from its five brands, including Chery, Exeed, Jetour, iCAR, and Zhijie, at the 2025 Shanghai International Auto Show [1][3] - The new Chery QQ targets the A0 electric vehicle market, featuring a classic design and a user co-creation plan set for May [3][5] - The Fengyun A9, a C-class sedan, has received over 53,565 orders in 35 days since its blind booking, with a limited release of 5,000 founder editions [5][7] Group 2 - In Q1 2023, Chery Group achieved a record sales volume of 620,000 vehicles, with 255,000 units exported, maintaining the top position among Chinese automakers in exports [9] - Chery's chairman emphasized the company's commitment to "four modernizations": electrification, intelligence, low carbon, and internationalization, with a record 5,000 overseas guests at the auto show [9] - Chery introduced its "Land, Sea, and Air" technology system, showcasing products like the Kunpeng super hybrid system and amphibious vehicles [9]

Core Viewpoint - Chery has transformed from a "follower" to a "definer" in the global automotive industry, showcasing its technological advancements and redefining the global image of Chinese automobiles through its "Technology Going Global 3.0" strategy [4][17]. Group 1: Chery's Global Presence - The Shanghai International Auto Show attracted significant attention to Chery, with over 5,000 overseas guests and industry media representatives, highlighting the company's growing global influence [1][4]. - Chery's exhibition showcased various technological innovations, including the Kunpeng engine with a thermal efficiency of 48%, and the amphibious vehicle Jetour Zhenghong G900, demonstrating China's comprehensive technological capabilities [1][15]. Group 2: Evolution of Chery's Global Strategy - Chery's international expansion can be categorized into three phases: - Phase 1 (1.0): Product export phase, focusing on cost-effectiveness to enter international markets, with over 1 million vehicles exported from 2001 to 2010 [5][7]. - Phase 2 (2.0): Localization phase, emphasizing ecosystem development and establishing local production bases to enhance brand recognition and market share [7][8]. - Phase 3 (3.0): Technology innovation phase, where Chery transitioned from selling products to exporting technology standards, establishing a global integrated system of R&D, manufacturing, supply chain, and service [8][9]. Group 3: Technological Advancements - Chery has achieved significant technological milestones, including the launch of the Kunpeng engine, which surpasses competitors like Toyota and Volkswagen in thermal efficiency [12]. - The company has established a robust global R&D network with over 29,000 patent applications, positioning itself as a leader in automotive technology [12][15]. Group 4: Market Performance - In 2024, Chery's total sales reached 2.604 million vehicles, with exports of 1.14 million units, setting a new record for Chinese automotive exports [11]. - The brand value of Chery increased by 163%, ranking it among the top three in the Chinese automotive manufacturing industry, reflecting its enhanced market influence [10].

Core Insights - Chery Group showcased its latest technology and product matrix at the 21st Shanghai International Automobile Industry Exhibition, featuring 53 significant models across its five brands, emphasizing China's automotive evolution from "going out" to "leading the trend" [1] - The company achieved a record first-quarter sales of 620,000 units, with 255,000 vehicles exported, maintaining its position as the top Chinese carmaker in exports [2] - Chery's brand value increased by 163% to 25 billion yuan, ranking 45th in the 2024 Hurun Brand List and entering the top three in the automotive manufacturing sector [2] Product Highlights - Chery brand presented 16 models, including the new QQ, Fengyun A9, and the debut of the Tiggo 9L production concept car, showcasing a range of fuel, hybrid, and electric vehicles [1] - The Exeed brand launched the pre-sale of the 2025 model year Exeed Star Era ES electric vehicle and introduced the Exeed Star Era Tianji [1] - The Jetour brand unveiled the global debut of the Jetour Traveler Star Guardian and showcased its entire lineup of off-road vehicles [1] Strategic Focus - Chery Group is committed to the "Four Modernizations": electrification, intelligence, low carbon, and internationalization, with a focus on enhancing electric vehicle technology and safety features [2] - The company aims for higher oil-electric conversion efficiency and lower energy consumption through green design and innovative energy solutions [2] - A record 5,000 overseas guests and partners were invited to the exhibition, highlighting Chery's international outreach efforts [2]

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]