Chery Automobile's Revenue Up 12% in First Three Quarters, Net Profit Attributable to Parent Down 2.8%
nashnova research
Chery Automobile (09973.HK) posted RMB 241.2 billion in revenue for the first three quarters, up 12.3% year-on-year, yet profit attributable to the parent fell 2.8% to RMB 13.96 billion — revenue is running, but profit isn't keeping pace.
How much did revenue grow, and what drove it?
First-three-quarter revenue reached RMB 241.234 billion, up 12.29% year-on-year, sustaining double-digit growth.
This means → Chery's top line is healthy; the company is selling more cars at a solid clip.
Why did profit shrink despite higher sales?
Profit attributable to the parent — the slice of net income that belongs to listed-company shareholders — came in at RMB 13.963 billion, down 2.8% year-on-year.
In plain terms = revenue rose roughly a tenth, yet the money shareholders take home actually fell. Costs or expenses ate into the gain.
This reflects margin pressure during expansion — likely from price competition, R&D spending, or overseas-push costs.
What should investors watch next?
Revenue growth and profit decline appearing together makes the "growing sales, shrinking earnings" tension hard to ignore.
This means → the question is no longer whether Chery can sell more cars, but how much it earns on each one sold.
If margins keep sliding in coming quarters, the market may reassess the stock's valuation logic.
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