Chery Automobile Submits An IPO Application to The Stock Exchange of Hong Kong
On February 28th, according to The Stock Exchange of Hong Kong documents, Chery Automobile Co., Ltd. has now submitted its listing application to The Stock Exchange of Hong Kong.
In January this year, Chery Automobile‘s parent company, Chery Holdings Group Co., Ltd., obtained a share financing, which may pave the way for the former’s IPO. The investors in this equity financing are Qingdao City Construction Investment Group, IDG Capital, and Huoyan Investment.
Chery Automobile is one of the few remaining unlisted automobile manufacturers in China and is also one of China’s largest automobile exporters. This is also the most important asset of Chery Holdings, which is also engaged in financial services and real estate among other businesses.
According to official information from Chery, Chery sold 2.6039 million vehicles in 2024, an increase of 38.4% year-on-year, setting a new historical sales record. Among them, exports exceeded 1.14 million vehicles with a year-on-year growth rate of 21.4%, creating a new record for Chinese car companies’ exports and ranking first among Chinese brand passenger car exports for 22 consecutive years.
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