Chery Automobile, another Chinese state-owned car manufacturer, was reported last week to be preparing a $1 billion listing on the Hong Kong Exchange. They’re hoping to raise at least 9.1 billion Hong Kong dollars (approximately $1.2 billion). If successful, this offering will be the largest by any auto company this year in Hong Kong. Such an issue would be a historic accomplishment for the brand.
The company’s decision to pursue this listing comes at a time when Chery is preparing to exit its largest foreign market, which is currently under sanctions. Chery is currently in the process of reassessing their international goals. It appears that the company was hit by the recent sanctions, although the particular market continues to be publicly unknown. As an example of this strategic turn, the automaker plans to shutter its dealership in Saint Petersburg, Russia.
Photo documentation of this Chery dealership in Saint Petersburg, pictured in September 2024, supplied by Reuters. This installation documentation offers a glimpse into Chery’s historical presence within the Russian market. After the unexpected escalation of the geopolitics, they could no longer operate in that space.
Chery Automobile has set up adjacent bases in Hong Kong and Tokyo. This ambitious move not only solidifies its global ambitions, but it’s strategic interests in markets across the globe. The company is hoping on a Hong Kong Exchange listing. This shift is intended to improve its resiliency in the face of fierce global competition.
The report detailing Chery’s plans was authored by Loretta Chen and Kenji Kawase and was initially published on September 17, 2025, at 11:14 JST. It was later updated on the same day at 14:41 JST, reflecting the dynamic nature of corporate strategies in response to shifting economic landscapes.