Chery Automobile surged 11% in its Hong Kong debut, raising $1.2 billion in a top-priced IPO.

Chery Automobile surged 11% in its Hong Kong stock market debut on September 25, 2025, after raising up to $1.2 billion in an IPO priced at the top of its range. The company, China’s largest vehicle exporter and second-biggest carmaker, issued 297 million H-shares, with proceeds to fund new vehicle development, next-generation technologies, overseas expansion, and production upgrades. Chery reported strong growth in 2024, selling over 2.29 million vehicles globally and increasing revenue to 269.9 billion yuan, while its new energy vehicle sales share rose to 27.3% in early 2025. The listing reflects growing investor confidence in China’s electric vehicle sector amid rising global demand for NEVs.