Chery Automobile Reports First Three Quarters Financial Data; Qi Shilong Says Domestic NEV Profitability Gap Expected to Be Closed by 2027

On October 30, Chery Automobile released its unaudited financial data for the nine months ended September 30, 2026. In the first three quarters, the company achieved revenue of RMB 241.234 billion, up 12.29% year on year; gross profit of RMB 39.004 billion, up 32.38% year on year, with gross margin rising to 16.17%; profit for the period of RMB 14.595 billion, with a net profit margin of 6.05%; and profit attributable to owners of the company of RMB 13.963 billion. At noon on October 31, Qi Shilong, Executive Vice President of Chery Automobile Co., Ltd., and Jin Yibo, spokesperson for Chery Holding Group, spoke with the media after the release of the third-quarter financial report. When asked about the timeline for breaking even in the domestic new energy vehicle business, Qi Shilong said Chery is adjusting its product structure and will rely on the introduction of next-generation technologies. He said he hopes some high-end brands will move upmarket, such as Zhijie, which needs to gradually scale up to offset substantial R&D investment. Qi Shilong disclosed that from the perspective of economies of scale, it is expected that around 2027, or in the second half of 2027, the company will be able to shore up the profitability shortfall in its domestic new energy vehicle business.