On the morning of September 25, Chery Automobile Co., Ltd. (stock code: 9973.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange. As the largest automotive IPO in Hong Kong so far in 2025 by deal size, Chery's listing marks a new phase in its entry into international capital markets.

"This Hong Kong listing is an important step for Chery into international capital markets and a fresh starting point to shoulder greater responsibilities and embrace a larger mission," said Chairman Yin Tongyue. He added that Chery's future pursuit will go beyond commercial success to include contributions to social value. Leveraging capital, Chery will accelerate technological innovation, deepen its global layout, and continue strengthening its core automotive business. At the same time, it will actively nurture more outstanding enterprises, helping them transform and go public to inject sustained vitality into the industry ecosystem. Chery aspires to become an "innovation-driven, globally trusted leader in intelligent mobility ecosystems," contributing further to the high-quality development of China's automotive industry.

Since its founding in 1997, Chery has been committed to driving industry innovation and expanding in international markets. According to Frost & Sullivan data, in 2024 Chery's passenger car sales grew 49.4% year-on-year, ranking first among the top 20 global passenger car companies for growth; it was the only company among the top 20 global passenger car makers to register over 25% year‑on‑year increases in new energy vehicle sales, fuel vehicle sales, China market sales and overseas sales. Among China’s top ten passenger car makers, Chery ranked first in China for growth rates in both fuel vehicle and new energy vehicle sales. Regarding Chery's most notable globalization strength, since 2003, Chery has been the top exporter among China’s independent-brand passenger car makers for 22 consecutive years. In 2024, Chery ranked first among China's independent-brand passenger car makers in sales in Europe, South America and the Middle East & North Africa, and ranked second in sales in North America and Asia (excluding China).

Chery has a clear strategic plan for post‑listing development. According to the prospectus, the proceeds from this listing will be mainly used for five purposes: 35% for R&D of different passenger car models and versions to further expand the product portfolio; 25% for R&D of next‑generation vehicles and advanced technologies to enhance core technical capabilities; 20% for expanding overseas markets and implementing globalization strategies; 10% for upgrading the company’s production facilities in Wuhu, Anhui; and 10% for working capital and general corporate purposes.

This fundraising plan reflects Chery’s strategic priorities: increasing R&D investment—particularly in new energy and intelligent technologies—and accelerating global expansion to consolidate its position as China’s leading independent-brand exporter.

From humble beginnings in a small grass-roofed house to becoming a Fortune Global 500 company, this independent auto brand that started in Wuhu has finally emerged on the international capital stage. With the Hong Kong listing, Chery Automobile is poised to open a new chapter in its development.

Source: anhuinews.com