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Chery AutomobileChina's #1 vehicle exporter; HKEX-listed multi-brand auto group with rapidly growing NEV business
Revenue (2025)
300.29B CNY
+11.3%
Net Profit (2025)
19.51B CNY
+36.1%
Net Margin (2025)
6.5%
from 5.3%
Total Vehicles Sold (2025, group)
2.81M
+8% Y/Y
Passenger Vehicle Sales (2025, listco)
2.63M
+14.6%
NEV Sales (2025)
~904K
+54.9%
Vehicles Exported (2025)
1.34M
+17-33% (per source)
NEV Revenue (2025)
98.02B CNY
+66.3%
Overseas Revenue (2025)
157.42B CNY
+56% (52.4% of total)
EV Gross Margin (2025)
8.8%
expanding
HKEX IPO Valuation (Sep 2025)
~$23B
Total raised: Publicly traded (HKEX: 09973)
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Hong Kong IPO | Sep 25, 2025 | ~HK$9.145B (~US$1.2B) | ~$23B (post-IPO) | Hillhouse CapitalGreenwoods Asset Management11 additional cornerstone investors |
| Brand / Model Line | Powertrain | Target Market | Notes |
|---|---|---|---|
| Chery (Main Brand) | ICE / PHEV / BEV | Mass market domestic & export | Tiggo SUV lineup; Fulwin and Chery New Energy sub-brands for PHEV/BEV |
| EXEED | ICE / PHEV | Premium domestic & intl | Premium sub-brand competing with foreign JVs |
| iCar / iCaur | BEV | Youth / urban | Pure-electric sub-brand for younger buyers (boxy electric SUVs) |
| Jetour | ICE / PHEV / BEV | Off-road SUV | Includes Zongheng sub-brand for luxury off-road SUVs |
| Luxeed (with Huawei) | BEV / EREV | Premium domestic | Co-developed under Huawei HIMA alliance |
| JAECOO | ICE / PHEV | Global SUV market | Export-focused off-road/SUV brand |
| OMODA | ICE / PHEV / BEV | Global compact/crossover | Export-focused compact brand |
| Lepas / Exlantix / Aiqar | BEV / PHEV | Export | Newer export-focused sub-brands launched 2024-2025 |
Harmony Intelligent Mobility Alliance (HIMA) member; co-develops Luxeed line; smart driving and smart cockpit collaboration
Long-running Changshu manufacturing JV producing JLR vehicles for China
Battery supply partnership for NEV lineup
Local assembly plants in Thailand, Indonesia, Malaysia, Vietnam, Philippines
CKD/SKD assembly operations for Central Asian markets
Among 13 cornerstone investors anchoring HKEX IPO
Established in Wuhu, Anhui province as a state-owned automaker
Began exporting vehicles to Syria, marking the start of international expansion
Files for Hong Kong listing
Lists on HKEX as 09973 at HK$30.75/share, raising ~$1.2B; opens 11% above issue. Largest global auto IPO of 2025
Group full-year sales of 2.81M vehicles; exports 1.34M; NEV sales 904K (+54.9% Y/Y)
Cumulative export volume reaches ~5.85M units, the highest cumulative export tally among Chinese automakers
Chery enters/maintains a position on Fortune Global 500 list
Deepens cooperation under Huawei's Harmony Intelligent Mobility Alliance, including the Luxeed co-branded line
Offers mass-market to premium EVs via Omoda, Jaecoo, Exeed, and Jetour brands with a strong focus on exports. Privately held but one of China's top vehicle exporters with 2.6M+ total annual sales in 2024 and ~580K NEV deliveries (industry estimate). Targets emerging markets across the Middle East, Southeast Asia, and South America with affordable, feature-rich EVs. Chery was founded in 1997, is headquartered in Wuhu, Anhui, China and employs ~80,000 (group).
Chery has raised Publicly traded (HKEX: 09973) in total, based on the funding rounds Sterling tracks.
Sterling groups Chery in the Electric Vehicles sector, alongside Geely (GELYF), SAIC Motor (600104.SS), Volkswagen Group (VWAGY), Hyundai Motor Group (HYMTF), BMW Group (BMW.DE) and Stellantis (STLA).
If you are researching Chery, also look at Geely (GELYF), SAIC Motor (600104.SS) and Volkswagen Group (VWAGY). You can compare all of them side by side or browse the full Electric Vehicles sector on Sterling.
