Beijing (Gasgoo)- On February 28, 2025, Chery Automobile Co., Ltd. submitted its listing application to the Stock Exchange of Hong Kong Limited. China International Capital Corporation (CICC), Huatai Securities, and GF Securities act as joint sponsors for the IPO.
According to Chery's prospectus, the company's revenue grew significantly from 92.618 billion yuan in 2022 to 163.205 billion yuan in 2023, marking a 76.2% soar. In the first nine months of 2024, Chery's revenue reached 182.154 billion yuan, surpassing the full-year 2023 revenue.
On the profit front, Chery's profit grew from 5.806 billion yuan in 2022 to 10.444 billion yuan in 2023, representing nearly 80% surge. In the first nine months of 2024, the company posted a profit of 11.312 billion yuan, with expectations to exceed its 2023 profit for the full year.
Chery plans to use the funds raised from the IPO to expand its product portfolio by developing new vehicle models and versions, invest in next-generation vehicle and advanced technology R&D, enhance global market penetration, improve production facilities, and support working capital needs.
In 2024, Chery Automobile sold 2,603,916 vehicles, setting a record high, with a 38.4% year-on-year leap. Of these, 2,030,347 units were fuel-powered vehicles, up 18.4% from the previous year, while sales of new energy vehicles soared by 232.7% to 583,569 units. Additionally, Chery exported 1,144,588 vehicles to overseas markets.
