Chery Automobile
China's #1 vehicle exporter; HKEX-listed multi-brand auto group with rapidly growing NEV business
CHERYWuhu, Anhui, China~80,000 (group)Founded 1997Publicly traded (HKEX: 09973) raisedwww.cheryinternational.com
SectorsElectric Vehicles
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
Funding History
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 |
Product Specifications
| 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 |
Partnerships & Investors
HuaweiTechnology / Co-Brand
Harmony Intelligent Mobility Alliance (HIMA) member; co-develops Luxeed line; smart driving and smart cockpit collaboration
Jaguar Land Rover (Chery Jaguar Land Rover)Joint Venture
Long-running Changshu manufacturing JV producing JLR vehicles for China
CATLSupply Chain
Battery supply partnership for NEV lineup
ASEAN Local PartnersManufacturing JV
Local assembly plants in Thailand, Indonesia, Malaysia, Vietnam, Philippines
Kazakhstan PartnersManufacturing JV
CKD/SKD assembly operations for Central Asian markets
Hillhouse Capital / GreenwoodsCornerstone IPO Investor
Among 13 cornerstone investors anchoring HKEX IPO
Key Milestones
1997
Company Founded
Established in Wuhu, Anhui province as a state-owned automaker
2001
First Export
Began exporting vehicles to Syria, marking the start of international expansion
Jul 2024
HKEX IPO Filing
Files for Hong Kong listing
Sep 25, 2025
Hong Kong IPO Debut
Lists on HKEX as 09973 at HK$30.75/share, raising ~$1.2B; opens 11% above issue. Largest global auto IPO of 2025
2025
Record Sales Year
Group full-year sales of 2.81M vehicles; exports 1.34M; NEV sales 904K (+54.9% Y/Y)
2025
Cumulative Exports >5.85M
Cumulative export volume reaches ~5.85M units, the highest cumulative export tally among Chinese automakers
2025
Fortune Global 500
Chery enters/maintains a position on Fortune Global 500 list
2025
Huawei HIMA Partnership
Deepens cooperation under Huawei's Harmony Intelligent Mobility Alliance, including the Luxeed co-branded line