For every 3 yuan earned, 2 comes from overseas! Chery's first-half revenue reached 143.2 billion yuan, with foreign markets contributing 70%.

Chery Automobile released its interim results for 2026 today.

The data shows that revenue for the first half reached RMB 143.28 billion, up 1.2% year-on-year; overseas market revenue hit RMB 98.968 billion, surging 51% year-on-year, accounting for nearly 70% of total revenue—meaning for every RMB 3 earned, roughly RMB 2 comes from foreign buyers.

In terms of sales, the Chery Group sold a cumulative 1.3575 million vehicles in the first half, up 7.7% year-on-year, setting a new record for the same period; among them, Hong Kong-listed Chery Automobile sold 1.275 million vehicles.

By structure, new energy vehicles sold 475,000 units cumulatively, up 32.3% year-on-year, with monthly sales exceeding 100,000 for three consecutive months and wholesale volume ranking among the top three in the industry; exports reached 943,800 units, up 71.5% year-on-year, meaning two out of every three vehicles sold were shipped overseas.

Beyond strong sales, Chery Automobile's earnings quality is also improving. Gross profit for the first half reached RMB 23.044 billion, up 25.1% year-on-year, with gross margin rising from 13% to 16.1%. Profit for the period was RMB 9.016 billion, net profit attributable to shareholders was RMB 8.567 billion, and net profit margin stood at 6.3%.

This figure is quite impressive within the industry. According to data from the National Bureau of Statistics, the operating profit margin for the national auto manufacturing industry in the first half was only 3.8%, and the average profit margin for the vehicle manufacturing segment under CAAM's metrics was only around 1.5%. Chery achieved four times that of domestic automakers.

In terms of market layout, overseas has become Chery's core base, with Europe emerging as a new growth driver. From January to May, Chery sold 139,000 vehicles in Europe, up more than twofold year-on-year. In the UK market, it ranked second across all brands for three consecutive months, and the JAECOO 7 once clinched the monthly sales crown across the entire market.

Another highlight is the simultaneous improvement in revenue structure. New energy business revenue in the first half reached RMB 59.284 billion, up 63.8% year-on-year, with its share of total revenue rising from 25.6% to 41.4%.

On the financial side, cash and cash equivalents at period-end stood at RMB 63.419 billion, up 35.1% from the end of 2025. R&D expenditure was RMB 6.672 billion, up 28.3% year-on-year, primarily directed toward electrification, assisted driving, and smart cockpits.

However, due to increased sales and R&D spending, Chery's net profit attributable to shareholders declined year-on-year in the first half. Additionally, sales of its two premium brands, Exeed and Luxeed, fell 44.9% and 56.9% respectively in the first half, indicating that premium positioning remains a weak point.