Core Insights - Chery held the 2025 Global Innovation Conference in Wuhu, showcasing its technological breakthroughs in electrification, connectivity, and intelligence, with a strategic vision of "global co-research, sharing, and symbiosis" [1][3] Technology Achievements - Chery displayed multiple technological achievements, including the Kunpeng Tianqing engine, which improves thermal efficiency to 48%, indicating ongoing investment in combustion systems and thermal management [4] - The Ark Amphibious System-equipped Zongheng G700 successfully crossed the Yangtze River, demonstrating capabilities in extreme conditions, although its application in regular passenger vehicles is limited [4] - In the field of intelligence, Chery adopted a dual approach by showcasing its self-developed Falcon Intelligent Driving model and integrating Huawei's ADS4 system for end-to-end urban NOA functionality [4] Strategic Transformation - Chery's Chairman, Yin Tongyue, emphasized the transition to a technology-driven enterprise, with international expansion as a key focus, noting that overseas revenue is approaching half of total earnings [5] - As of September 2025, Chery exported 137,624 vehicles, a 26.2% year-on-year increase, and has been the largest domestic car exporter in China since 2003 [6] Market Dynamics - In 2024, Chery led the Chinese automotive industry in exports to Russia, with 325,000 vehicles sold, a 47% increase [7] - However, Chery's sales in Russia saw a 13.7% decline in July, indicating potential market saturation and challenges due to geopolitical factors [7] - Chery is adjusting its global strategy by planning to reduce operations in Russia and shift focus to markets in Europe and South America, facing competition from domestic rivals like SAIC and BYD [8] Industry Competition - The Chinese automotive industry is experiencing increased competition in overseas markets, with exports reaching 3.083 million vehicles in the first half of 2025, a 10.4% increase [11] - SAIC's MG brand and BYD are making significant strides in Europe and other emerging markets, with BYD's sales in the first half of 2025 surpassing the total for 2024, reflecting a growth rate of 130% [11]

Core Insights - The 2025 Chery Global Innovation Conference, themed "Innovation. Leading the World," showcased Chery's latest achievements in electrification, connectivity, intelligence, and sharing [1] - Chery Group has achieved five historical breakthroughs in sales scale, new energy, exports, brand, and capital markets [1] - As of the end of September, Chery Group has over 17.72 million global users, with more than 5.43 million overseas users [1] - Chery Automobile was listed on the Hong Kong Stock Exchange on September 25 [1] Group 1 - Chery launched a collaborative innovation center and established a strategic alliance with Kaiyang Laboratory to bridge the gap between industry, academia, and research [1] - The conference introduced over 10 globally leading technologies, including the Flying Fish chassis and the Kunpeng Tianqing engine, which has a thermal efficiency of 48%, potentially leading hybrid vehicles into a new era of fuel consumption [1] - Chery currently operates 16 overseas KD factories, 8 major R&D centers, and employs over 30,000 R&D personnel, with plans to establish 26 additional overseas R&D centers in the future [1] Group 2 - The company has initiated over 4,000 Spark projects, building a global technology innovation system to support the Chinese automotive industry in becoming a global leader [1] - Chery aims to usher in a new era of Chinese automotive technology on the global stage [1]

Core Insights - Chery Automobile held its 2025 Global Innovation Conference in Wuhu, Anhui, marking its first major event post-IPO and showcasing its commitment to innovation and global expansion [1][3] Group 1: Innovation and Technology - The conference highlighted Chery's advancements in electrification, connectivity, intelligence, and sharing, including the debut of its humanoid robot "Mo Yin" and a self-developed all-solid-state battery module with an energy density of 600Wh/kg [3] - Chery's Chairman, Yin Tongyue, emphasized the importance of quality over quantity, stating that "quality is more important than sales, and innovation is more important than profit" [3][5] - Chery has established a global innovation ecosystem focusing on technology, culture, and management innovation, aiming to enhance product quality and operational management [5][6] Group 2: Global Expansion and Market Strategy - Chery is adapting to global markets, recognizing challenges such as brand localization and quality issues that can harm the overall image of Chinese brands [5][6] - The company aims to increase its overseas revenue, which is already approaching half of its total, and plans to establish 26 overseas R&D centers to enhance local market competitiveness [6][10] - Chery's global innovation strategy includes a focus on sustainable development and compliance with local regulations, ensuring that the company can meet diverse market demands [5][10] Group 3: Research and Development - Chery operates over 300 "Yao Guang" laboratories, tackling more than 500 significant projects across five core technology areas, including electric and intelligent vehicles [7][9] - The company has initiated collaborations with over 100 top global universities to drive original innovation and has identified over 4,000 cutting-edge topics through its "Kailiang" laboratory [9][10] - Chery's R&D efforts are supported by a team of 30,000 internal researchers and over 50,000 external experts, ensuring continuous innovation and patent generation [10]

Core Insights - Chery held the 2025 Global Innovation Conference in Wuhu, showcasing its latest achievements in electrification, connectivity, intelligence, and sharing, emphasizing its global competitiveness and future vision driven by innovation [1][6]. Group 1: Event Overview - The conference featured prominent guests, including academicians from various international institutions, leaders from automotive associations, and executives from industry partners [3]. - Chery aims to establish itself as a global high-tech ecological group that is favored and trusted by users [4]. Group 2: Achievements and Market Position - Chery reported significant historical breakthroughs in five areas: sales scale, new energy, exports, brand recognition, and capital market performance, with over 17.72 million global users, including more than 5.43 million overseas users [6]. - The company emphasizes sustainable globalization, focusing on user affordability, reliable quality, and sustainable development to reshape the image of Chinese automobiles [8]. Group 3: Technological Innovations - Chery introduced its "Yaoguang" technology strategy, which encompasses five major technological fields, including electrification and AI, aiming to enhance its global innovation system [13][14]. - Key technological advancements include the launch of the Kunpeng Tianqing engine with a 48% thermal efficiency, surpassing the industry standard of 38%-45% [16]. - The company unveiled the Flying Fish chassis and the Ark amphibious system, showcasing innovations in electric drive and safety technology [18][28]. Group 4: Global Expansion and R&D - Chery plans to establish 26 overseas R&D centers in the coming years to enhance local market competitiveness and meet regulatory requirements [32]. - The newly established Global Technology Innovation Center will include multiple overseas research institutes, aiming to create a collaborative innovation network with over 30,000 R&D personnel [34].

Core Viewpoint - Chery Automobile has officially launched its Hong Kong IPO process, aiming to raise funds primarily for new technology and model development, overseas market expansion, and smart manufacturing upgrades, marking a significant step in its global integration and brand internationalization [1][3]. Financial Performance - Chery's total revenue is projected to grow from RMB 92.6 billion in 2022 to RMB 269.9 billion in 2024, reflecting a compound annual growth rate (CAGR) of 70.7%. Net profit is expected to increase from RMB 5.8 billion to RMB 14.3 billion during the same period, with a CAGR of 57.1% [3]. - In 2024, Chery anticipates a revenue of RMB 269.9 billion, a year-on-year increase of 65.4%, and a net profit of RMB 14.33 billion, up 37.2% year-on-year, showcasing strong growth momentum [3]. - Chery's vehicle sales are projected to reach 2.295 million units in 2024, representing a 49.4% year-on-year increase [3]. Global Expansion - Chery has maintained its position as the top exporter of Chinese passenger cars for 22 consecutive years, with its vehicles sold in over 100 countries and regions, accumulating over 13 million units globally [3][5]. - The company has entered a new phase of globalization, termed "Overseas 3.0," establishing a comprehensive production layout both domestically and internationally, which reduces production costs and meets diverse market demands [5][9]. Brand Development - Chery has developed a brand matrix consisting of five brands: Chery, Jetour, Exeed, iCAR, and Zhijie, which contributed 91.5% of the company's total revenue in 2024, demonstrating strong brand synergy [4]. Technological Advancements - Chery has invested significantly in safety and technology, including an 18 billion RMB investment in a collision laboratory, which conducts over a thousand crash tests annually [7]. - The company has developed advanced hybrid power systems, achieving a thermal efficiency of 48% with its Kunpeng Tianqing engine, addressing industry challenges related to range anxiety and performance compromise [7][8]. Market Positioning - Chery's global network and localized operations provide a competitive edge, with overseas business contributing 37.4% of total revenue in 2024 [9]. - The company has established a robust dealer network with 2,958 outlets worldwide, enhancing its market presence and competitive barriers [9]. Future Outlook - Analysts believe Chery's investment value lies in its unique business model and sustainable growth potential, supported by over 20 years of global operational experience that is difficult for competitors to replicate [10]. - With the increasing penetration of global electric vehicles and the launch of new models and technologies, Chery is expected to maintain a high growth trajectory, particularly following the full-scale launch of localized production in Europe [10].

Core Insights - Chery Automobile successfully held the ignition ceremony for the Kunpeng Tianqing engine, achieving a thermal efficiency of 48%, marking a significant advancement in hybrid technology [2] - The Kunpeng Tianqing hybrid engine will be primarily used in Chery's HEV, PHEV, and REEV platforms, enhancing the company's growth potential in the hybrid market [2] - Chery aims to establish itself as a leader in the global hybrid vehicle sector, contributing to the advancement of China's automotive industry in the global new energy wave [2] Company Performance - In August, Chery Group sold 71,000 new energy vehicles in the domestic market, representing a year-on-year increase of 53.1% [2] - Hybrid models have become a crucial foundation for Chery's new energy vehicle sales [2] Technological Advancements - The successful ignition of the Kunpeng Tianqing engine demonstrates reliability in design, calculation, and manufacturing, marking a key step from laboratory to mass production [2] - The engine's performance sets a new benchmark for hybrid technology, reinforcing Chery's commitment to innovation in the automotive sector [2]

Core Insights - Chery showcased its innovative technologies at the 2025 Shanghai International Auto Show, featuring five brands and 53 models, including advanced vehicles like flying cars and amphibious vehicles, attracting significant international attention [2][4][5] Group 1: Technological Innovations - Chery's display included groundbreaking technologies such as the Kunpeng engine with a 48% thermal efficiency, a flying car capable of seamless land and air transitions, and an amphibious vehicle that can operate in 1.5 meters of water for 40 minutes [5][9] - The company also presented high-speed motors and hydrogen fuel cell innovations, which garnered interest from international media [7] Group 2: Global Expansion and Strategy - Chery has established a unique globalization methodology, having exported its first batch of vehicles in 2001 and now covering over 80 countries with 16 production bases [13] - In Q1 2025, Chery exported 255,000 vehicles, maintaining its position as the leading Chinese automotive exporter, with a global user base exceeding 16.3 million [13][14] - The company is implementing a "technology output + localization production + ecological co-construction" model, exemplified by its new factory in Spain [14] Group 3: Commitment to Innovation and Standards - Chery launched the world's first hybrid technology open-source plan, focusing on patent licensing, laboratory sharing, and talent development, aiming to reshape the global narrative of Chinese automotive companies [12] - The company has accumulated over 29,000 patents and has established a global R&D system, reflecting its commitment to continuous innovation [10]

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].