New Stock News | Chery Automobile confirms it will IPO this year. Specific information will be announced gradually.

According to media reports, on January 10, a Chery spokesperson stated that Chery automobiles will go public in 2025, and specific information will be announced gradually. As for whether they will be listed on the Hong Kong Stock Exchange, they did not comment. Public information shows that Chery has actually been planning to go public for many years. In 2007, the Chairman of Chery Holdings Group Co., Ltd. (hereinafter referred to as "Chery Holdings"), Yin Tongyue, publicly stated that Chery will soon be listed on the domestic capital market. However, due to a series of internal and external reasons, several attempts to go public have been unsuccessful. Recently, there have been reports that Chery Holdings has recently obtained a round of equity financing, which may pave the way for its IPO. Data shows that the investors of this equity financing are Qingdao City Construction Group, IDG Capital, and Huoyan Investment. Chery's website shows that the company was established in 1997 and sells brands such as Tiggo and Arrizo in China and overseas. The company has been seeking to expand its global production facilities, including in Europe. In Vietnam, the company plans to start construction on a $800 million factory project before the end of 2025. In terms of performance, Chery Group disclosed that as of the end of September 2024, Chery has sold a total of 244,534 vehicles, a 28.6% increase compared to the previous year, with exports accounting for 109,000 vehicles, a 20.6% increase.