HK Stock Market Move | CHERY AUTO (09973) rises over 3%; Q3 net profit attributable to shareholders increases both year-on-year and quarter-on-quarter; institutions expect exports to support steady improvement in the company's profitability.

CHERY AUTO (09973) rose over 3%, up 2.62% as of press time at HK$23.54, with turnover of HK$57.4432 million. On the news front, on October 30, CHERY AUTO released its Q3 2026 results. A CICC research report noted that CHERY AUTO's Q3 results were in line with the bank's expectations. In 3Q26, the company's operating revenue was RMB97.954 billion, up 33.76% year-on-year and up 26.54% quarter-on-quarter; net profit attributable to shareholders was RMB5.396 billion, up 15.79% year-on-year and up 22.72% quarter-on-quarter. In 3Q26, the company's gross margin was 16.3%, up 1.2ppt year-on-year and up 0.2ppt quarter-on-quarter. CICC believes this performance was particularly outstanding against the backdrop of persistent raw material cost pressure in Q3 and quarter-on-quarter gross margin declines at most automakers, with scale growth and structural improvement offsetting the above pressures. CICC also said that CHERY AUTO recently released its "Yaoguang 2035 Technology Strategy," continuously improving its electrification and intelligent technology layout to support medium- and long-term product competitiveness enhancement. Looking ahead to 4Q26, exports are expected to support steady improvement in the company's profitability; the company guides for 20% growth in sales volume and profit in 2027 and plans to accelerate localized construction in the EU and promote domestic and international organizational synergy, which is expected to improve operating efficiency and better respond to trade policy changes.