Chery will go public in 2008

Despite what some analysts thought, Chery Automobile will make its initial public offering in 2008 instead of 2007. The reason for this is the low profit made in 2006, due to the massive expansion in other markets and the research done in this time. Chery will probably do its IPO in both the A-share market from China and on the Hong Kong market.
According to Yin Tongyao, the Chery profit will rise greatly in the 2006-2008 period. Since Chery is one of the few chinese auto companies that don't just rely on foreign models, and design their own instead, I see a great future ahead of them, and hopefully they'll make it to number 1 in China soon enough. While Chery currently makes around 350,000 cars per year, its capacity will go to around 600,000 in 2008, and thats another good reason not to rush with the IPO. I'm sure the foreign investment funds will jump at the opportunity to buy and maybe control Chery, so why not wait a bit longer and increase the value of the stock.