What was intended as a daring marketing stunt turned into a public relations disaster.

CHERY AUTO's (HK:09973) attempt to drive up the 999-step "Heavenly Ladder" at Tianmen Mountain scenic area has backfired spectacularly. The ill-conceived promotional event, which ended in failure on November 12, sparked widespread criticism online, with netizens showing little sympathy for the automaker. While the company may have aimed to showcase its vehicles' capabilities, the stunt raised serious questions about corporate responsibility and public safety.

To its credit, CHERY AUTO issued a swift apology in the early hours following the incident, acknowledging its "insufficient risk assessment." For an automaker, risk management and safety should be paramount—factors that directly reflect on brand credibility. If the company learns from this misstep, the episode could serve as a valuable lesson.

Notably, CHERY AUTO, a long-established Chinese automaker, recently completed its Hong Kong IPO on September 25 after two previous attempts, achieving a market capitalization exceeding HK$170 billion. During its listing, the company secured backing from 13 cornerstone investors including Hillhouse and景林, who placed their trust in CHERY's "steady development" pledge. However, as a major listed entity, the company's responsibility threshold should be far higher.

The fallout was immediate: CHERY's shares fell over 3% on November 13, dipping below their IPO price of HK$30.75. Investors may now be questioning whether the company's actions align with their expectations.

The incident recalls a recent viral interview with renowned investor Duan Yongping, who emphasized that investing in stocks means investing in businesses—not trading ticker symbols. Corporate culture, often shaped by founders, plays a decisive role in long-term value. While this episode may not define CHERY's culture, public perception matters. For consumers and investors alike, such stunts risk being interpreted as reflective of corporate priorities.

Though no casualties occurred, CHERY has pledged to repair damaged facilities at Tianmen Mountain. Yet, while "fixing guardrails" may be straightforward, rebuilding investor confidence could prove a far steeper climb.