HK Stock Market Move | CHERY AUTO (09973) fell more than 7% after its performance announcement. Net profit in the first quarter fell by 10% year-on-year, and revenue decreased by 3.45%.

CHERY AUTO (09973) fell over 7% in early trading, dropping 6.6% to HK$28.88 at the time of writing, with a turnover of HK$1.89 billion. On the news front, on the evening of April 28, CHERY AUTO announced that in the first quarter of 2026, it achieved revenue of 65.87 billion yuan, a decrease of 3.45% year-on-year; the net profit attributable to the parent company was 4.17 billion yuan, a decrease of 10.32% year-on-year. During the period, gross profit was 10.56 billion yuan, a year-on-year increase of 24.9%, but research and development expenses increased to 2.85 billion yuan, sales and distribution expenses increased to 2.7 billion yuan, and other expenses increased to 980 million yuan.