New stock news: Chongqing Sokon Industry Group Stock (601127.SH) has gone through a hearing at the Hong Kong Stock Exchange. Last year, the net profit attributable to the parent company was 5.9 billion yuan, turning losses into profits for the first time.

According to the disclosure of the Hong Kong Stock Exchange on October 13th, Chongqing Sokon Industry Group Stock Co., Ltd. (hereinafter referred to as Chongqing Sokon Industry Group Stock) (601127.SH) underwent a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC and China Galaxy International as its joint sponsors. According to a Frost Sullivan report, the company is the fourth in the world to achieve profitability as a new energy vehicle company. The prospectus shows that Chongqing Sokon Industry Group Stock is a technology-based company with new energy vehicles as its core business, covering the research and development, manufacturing, sales, and service of new energy vehicles and core products such as the three electric systems. With nearly 40 years of industry experience and operational optimization, the company has achieved multiple business milestones. In 1986, Chongqing Sokon Industry Group Stock embarked on its first venture in the spring and shock absorber business, expanding into the motorcycle business. In 2003, Chongqing Sokon Industry Group Stock took advantage of the rise of independent brand automobiles and entered the vehicle manufacturing field in a joint venture with Dongfeng Motor. In 2016, Chongqing Sokon Industry Group Stock fully transitioned to the new energy vehicle field, releasing the WENJIE brand in 2021 and launching a series of models. As of now, Chongqing Sokon Industry Group Stock has successfully launched four models under the WENJIE brand: the WENJIE M5, WENJIE M7, WENJIE M8, and WENJIE M9. The WENJIE M5 set the record for the fastest single-vehicle delivery volume exceeding 10,000 units in its first year on the market. The WENJIE M7 became the best-selling independent brand model in the Chinese market at the 300,000 RMB level, with a delivery volume of about 200,000 units in 2024. The WENJIE M9 became the sales champion among 500,000 RMB level models in the Chinese market, with a delivery volume exceeding 150,000 units in 2024. Additionally, the WENJIE M8 released by Chongqing Sokon Industry Group Stock in April 2025 also gained market popularity, breaking 30,000 units in sales within 24 hours of its official launch. According to a Frost Sullivan report, the WENJIE brand topped the new energy vehicle word-of-mouth list with an 82% NPS net recommendation value in the second half of 2024, and the total delivery volume of the WENJIE brand reached 387,100 units in 2024, a year-on-year growth of 268%. Chongqing Sokon Industry Group Stock's "super factory" and digitalized supply chain system ensure the high-quality and agile delivery of WENJIE series products and support the WENJIE M9 in achieving a production volume of over 150,000 units within 10 months of its listing. The company places a high emphasis on quality control, and the market quality performance of the WENJIE series products has become an industry benchmark. According to a Frost Sullivan report, the WENJIE brand has been ranked first in new energy vehicle brand new car quality performance for three consecutive years. In terms of revenue, the revenue of Chongqing Sokon Industry Group Stock increased by 5.1% from 341 billion RMB in 2022 to 358 billion RMB in 2023; in 2024, the revenue increased by 305.5% to 1.451 trillion RMB, mainly due to the growth in car sales. In 2024, Chongqing Sokon Industry Group Stock's new energy vehicle sales volume reached 426,900 units, an increase of 182.84% compared to 2023. As for net profit, in 2022 and 2023, Chongqing Sokon Industry Group Stock recorded losses of 5.2 billion RMB and 4.2 billion RMB respectively. In 2024, it recorded a profit of 4.7 billion RMB, mainly due to technological advancement, innovation, and increased product sales. In 2022 and 2023, it recorded net losses attributable to shareholders of 3.8 billion RMB and 2.4 billion RMB respectively, while in 2024, it recorded net profits of 5.9 billion RMB.