CHERY AUTO (09973) fell more than 7% during the morning session. By the time of writing, the stock was down 6.6%, trading at HKD 28.88 with a turnover of HKD 189 million. The movement follows the company's announcement on the evening of April 28th detailing its first-quarter 2026 financial results. The report showed revenue of RMB 65.87 billion, a decrease of 3.45% compared to the same period last year. Profit attributable to owners of the parent company was RMB 4.17 billion, down 10.32% year-on-year. During the period, gross profit rose by 24.9% to RMB 10.56 billion. However, research and development expenses increased to RMB 2.85 billion, sales and distribution expenses rose to RMB 2.7 billion, and other expenses climbed to RMB 980 million.