Chongqing Lifan Holding Co Ltd plans to list on the mainland stock market by the end of the year, company chairman Yin Mingshan said.

Yin said an auditor's report will be released for the IPO in the next two months.

Chongqing Lifan, which makes motorcycles and low-end vehicles, plans to list on the A-share market, and has yet to secure a listing approval from the China Securities and Exchange Commission, he said.

He said the company plans to raise funds for its expansion by listing shares on the exchange and possibly a bond issue.

'We are afraid we do not have enough capital to support our fast development,' Yin said.

He said, however, Chongqing Lifan has support from the state development bank for expanding into the western regions and from state import and export banks for its international expansion.

He also said the company plans to start manufacturing in Africa next year as part of its strategy to focus on developing countries that are less competitive than China.

Chongqing Lifan's plant in Moscow is already making cars and expects an annual output of 10,000 to 15,000 units.

By 2015 the company plans to produce 400,000 to 500,000 vehicles, with an investment of 4-5 bln yuan, Yin added.