- Chery's net income grew 34.6% year-on-year to 19.02 billion yuan ($2.77 billion) in 2025.
- The automaker's overall gross margin expanded to 13.8% in 2025, edging up from 13.5% in 2024.
Chery Automobile's net income jumped 34.6% year-on-year to 19.02 billion yuan ($2.77 billion) in 2025, according to its financial report released Wednesday.
The robust bottom-line result was primarily driven by a record global delivery of 2,631,381 vehicles, representing an 8% increase from 2024.
The company's total revenue for 2025 grew by 11.3% to 300.29 billion yuan.
Despite facing fierce domestic market competition in its core passenger vehicle segment, Chery's overall gross margin expanded to 13.8% in 2025, slightly up from 13.5% in 2024.
However, as the revenue contribution from new energy vehicles (NEVs) continued to rise, the gross margin for the core passenger vehicle business contracted to 12.8% in 2025 from 13.2% in 2024.
The profit margins currently generated by these emerging NEV products remain significantly lower than those enjoyed by the company's traditional combustion-engine vehicle business.
To support growing global product demand, Chery substantially increased its annual capital expenditure in 2025 to expand production capacity.
The company's selling and distribution expenses jumped 32.6% during the year, reflecting highly aggressive marketing campaigns undertaken by management.
In addition, annual research and development costs climbed 23.8% as the company ramped up R&D investments for future new models.
In terms of sales performance across sub-brands, the emerging Luxeed and iCar brands recorded the fastest growth rates within the group during the year.
Luxeed sold 90,493 vehicles in 2025, a 56% year-on-year increase, while iCar sold 96,989 vehicles, up 47% year-on-year.
In contrast, the premium Exeed brand experienced a 15% annual sales decline to 120,369 vehicles during the year.
($1 = 6.8774 yuan)
