- Chery's Hong Kong listing brought Gotion about RMB 1.7 billion in gains.
- Gotion holds a 1.66% stake in Chery and is one of the automaker's core suppliers.
Gotion High-tech (SZSE: 002074) projects its 2025 net income to more than double, driven by changes in the value of its stake in Chery Auto (HKG: 9973) following the latter's stock listing.
The Chinese battery giant said in a Friday announcement that net income attributable to shareholders is projected to reach RMB 2.5 billion ($360 million) to RMB 3 billion in 2025, representing a year-on-year increase of 107.16% to 148.59%.
Chery's Hong Kong listing generated about RMB 1.7 billion in gains for Gotion from changes in the fair value of its stake in the automaker, classified as non-recurring gains.
Chery's September 25, 2025, Hong Kong listing marked the largest automotive IPO (initial public offering) on the Hong Kong stock market last year.
The automaker raised HK$9.14 billion ($1.17 billion) through its Hong Kong IPO and currently has a market capitalization of HK$165 billion.
Gotion holds a 1.66% stake in Chery through one of its subsidiaries, according to Chery's prospectus.
The battery maker is one of Chery's core suppliers for its electric vehicle (EV) business, powering the automaker's premium model series including the Sterra and Fulwin.
After excluding non-recurring gains and losses, Gotion expects its 2025 net income to range between RMB 350 million and RMB 450 million, representing a year-on-year increase of 33.31% to 71.40%.
Benefiting from rapid growth in new energy vehicle (NEV) and energy storage demand, sales of the company's next-generation high-energy-density lithium iron phosphate (LFP) battery products have surged, Gotion said.
Gotion ranks among China's largest battery manufacturers, with EV battery installations reaching 43.44 GWh in 2025 and a 5.65% market share, making it the fourth-largest player, according to data from the China Automotive Battery Innovation Alliance (CABIA).
| Company | Installations (GWh) | Market share (%) | Share vs 2024 |
|---|---|---|---|
| CATL | 333.57 | 43.42% | -1.67 |
| BYD | 165.77 | 21.58% | -3.17 |
| CALB | 53.61 | 6.98% | +0.29 |
| Gotion High-tech | 43.44 | 5.65% | +1.07 |
| Eve Energy | 31.61 | 4.11% | +0.69 |
| Sunwoda | 24.35 | 3.17% | +0.28 |
| Svolt Energy | 20.71 | 2.70% | -0.49 |
| Rept Battero Energy | 19.50 | 2.54% | +0.31 |
| Zenergy | 15.93 | 2.07% | +0.27 |
| Energee | 15.08 | 1.96% | +0.26 |
| LG Energy Solution | 13.75 | 1.79% | +0.39 |
| Yinpai Battery | 6.29 | 0.82% | +0.41 |
| Cornex | 5.39 | 0.70% | +0.56 |
| Yuanhang Genlead | 4.30 | 0.56% | +0.54 |
| Do-Fluoride | 4.30 | 0.56% | -0.01 |
($1 = RMB 6.9493, $1 = HK$ 7.8077)
