Chery 2026 H1 Revenue RMB143.28 Billion, Net Profit RMB9.02 Billion

In the first half of 2026, Chery Automobile achieved operating revenue of RMB143.28 billion, up 1.2% year on year. Gross profit reached RMB23.04 billion, up 25.1%, with the gross margin improving by 3.1 percentage points to 16.1%. The overall gross margin for passenger vehicles rose from 12.4% to 15.6%. Net profit for the period was RMB9.02 billion, corresponding to a net margin of 6.3%. During the same period, the national automobile manufacturing industry's operating revenue profit margin was 3.8%, while the average profit margin for domestic vehicle manufacturing was about 1.5%.

As of the end of the first half, Chery's cash and cash equivalents stood at RMB63.42 billion, up 35.1% from the end of 2025. Bank loans and other borrowings fell from RMB15.92 billion to RMB10.00 billion, a decline of 37.2%. Financial expenses dropped from RMB1.45 billion to RMB549 million, down 62.1%. In 2026, Chery ranked first among Chinese self-owned brands in all five core studies published by J. D. Power. In June, Chery became the third Asian board member of the International Automotive Task Force (IATF). To date, 71 Chery models have received various global five-star safety certifications.

In the first half of 2026, Chery's overseas revenue reached RMB98.97 billion, up 51% year on year. From January to June, the Chery Group exported a total of 943,800 vehicles, up 71.5% year on year, with monthly exports of 148,000, 177,000, 181,000 and 191,000 units from March to June respectively. European sales more than doubled in the first half, and the brand ranked second overall in the UK market. Chery currently operates 12 major production bases globally, including three overseas bases, with sales and service networks covering Europe, South America, Africa, the Middle East and other regions.

In the new energy vehicle (NEV) segment, the Chery Group sold 475,200 NEVs in the first half of 2026, up 32.3% year on year, with monthly sales exceeding 100,000 units for three consecutive months and wholesale volume ranking among the top three in the industry. Among newly launched models in the first half, NEVs accounted for more than 90%, covering a price range from RMB50,000 to RMB500,000. NEV business revenue reached RMB59.28 billion, up 63.8% year on year, representing 41.4% of total revenue, an increase of nearly 16 percentage points year on year. The NEV gross margin was 12.8%, up 7.6 percentage points year on year.

In the first half of 2026, Chery's research and development expenditure was RMB6.67 billion, up 28.3% year on year. The company has formed a five-brand matrix: Chery, Jetour, Exeed, iCAR and Luxeed. In March, Chery unveiled its energy strategy, including Rhino battery technology, a green smart energy ecosystem and the Global Power Battery Safety White Paper. The company plans to expand its dedicated solid-state battery team to more than 1,200 people within two years, with over 90% holding master's or doctoral degrees, and cumulative special R&D funding exceeding RMB10 billion. The Falcon intelligent assisted driving system, based on an end-to-end large model architecture, achieved a 99.7% confidence score in the 'spatiotemporal memory algorithm' certification by TÜV Rheinland. In the first half, the company became the first to pass the E4 EU UN/ECE R171 safety management system audit.

Chery said it will continue to broaden its product lineup and drive brand elevation in the second half of the year, intensify R&D on new technologies to accelerate the electric and intelligent transformation, and further consolidate its global advantages through the implementation of its globalization strategy.