Chery Automobile net profit drops 11.7 pc to 8.57 billion yuan

Chinese car maker Chery Automobile’s (9973) performance for the first half of 2026 saw moderate revenue growth but weaker profit, as net profit plunged 11.7 percent to 8.57 billion yuan (HK$9.99 billion) in the period. 

No interim dividend was declared. 

As of June 30, the largest Chinese auto exporter gross profit jumped 25.1 percent to 23.04 billion yuan, driven by the company’s expansion in overseas markets.

Revenue reached 143.28 billion yuan, a slight increase of 1.2 percent. 

Revenue from the sale of gasoline-powered vehicles dropped by 24.8 percent year-on-year to 69.51 billion yuan, accounting for 48.5 percent of total revenue; whereas revenue from the sale of new energy vehicles leapt 63.8 percent to 58.28 billion yuan.

Revenue from the sale of automotive components and parts rose slightly by 3.8 percent to 10.04 billion yuan, driven by derived demand for related components driven by rapid growth in overseas passenger vehicle sales.

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