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<IPO>Chery Auto Applies for HK Listing; 1-3Q24 Profit RMB11.3B
Chery Automobile filed for a listing in Hong Kong, with CICC, Huatai Securities and GF Securities (Hong Kong) acting as joint sponsors. For the nine months ending September 2024, C...
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<IPO>Chery Auto Applies for HK Listing; 1-3Q24 Profit RMB11.3B
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Chery Automobile filed for a listing in Hong Kong, with CICC, Huatai Securities and GF Securities (Hong Kong) acting as joint sponsors.

For the nine months ending September 2024, Chery reported annual sales surpassing 1.54 million vehicles, with revenue climbing 67% to RMB182.154 billion and profit rising 58% to RMB11.312 billion.

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The company plans to allocate the proceeds from the listing to R&D of various passenger car models and versions, next-generation vehicles, and advanced technologies to bolster core technical capabilities.

Funds will also support overseas market expansion and a global strategy, upgrades to production facilities in Wuhu, Anhui, as well as working capital and general corporate purposes.

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