Chery Automobile Co., Ltd. (Chery Auto) reported consolidated revenue of RMB 143.28 billion for the six months ended 30 June 2026, edging up 1.2% year on year. The modest top-line growth was driven by stronger overseas sales and higher component demand, offsetting flat domestic vehicle volume.

Gross profit jumped 25.1% to RMB 23.04 billion, lifting the gross margin to 16.1% from 13.0% a year earlier. The improvement reflected a richer product mix, particularly higher-margin exports and increased sales of new-energy vehicles (NEVs). NEV revenue reached RMB 59.28 billion, accounting for 41.4% of passenger-vehicle sales versus 25.6% in the prior-year period.

Despite better margins, profit for the period slipped 9.0% to RMB 9.02 billion as other income fell 27.1% to RMB 6.03 billion, largely due to lower foreign-exchange gains, while research and development spending rose 28.3% to RMB 6.67 billion. Basic earnings per share declined to RMB 1.47 from RMB 1.77.

Operating cash inflow strengthened to RMB 37.76 billion (H1 2025: RMB 14.00 billion), underpinning a cash and cash equivalents balance of RMB 63.42 billion at end-June. Net current assets totaled RMB 5.74 billion, down 40.6% as trade and bills payables expanded to RMB 145.67 billion. The gearing ratio stood at 81.7%, up 1.3 percentage points from year-end 2025.

Capital expenditure was RMB 2.54 billion, focused on capacity expansion for overseas demand. Inventories rose 30.2% to RMB 47.85 billion, reflecting higher finished-goods stock for export markets. Bank loans and other borrowings fell to RMB 10.00 billion, while lease liabilities increased to RMB 4.66 billion.

The board did not declare an interim dividend. No material post-balance-sheet events or contingent liabilities were noted.