港股汽车股盘初走强，蔚来汽车(09866.HK)、小鹏汽车(09868.HK)涨超7%，吉利汽车(00175.HK)涨超 4%，零跑汽车(09863.HK)、北京汽车(01958.HK)等跟涨。 ...

Core Viewpoint - The article emphasizes the importance of identifying and sustaining stock price trends for successful short-term investing, highlighting Geely Automobile Holdings Ltd. (GELYY) as a strong candidate for trend investors due to its recent performance and positive fundamentals [1][4]. Group 1: Stock Performance - Geely Automobile Holdings Ltd. has experienced a solid price increase of 20.4% over the past 12 weeks, indicating strong investor interest [4]. - The stock has also seen a price increase of 2.5% over the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, GELYY is trading at 87.2% of its 52-week high-low range, indicating a potential breakout opportunity [5]. Group 2: Fundamental Strength - GELYY holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, underscoring the potential for strong performance [7]. Group 3: Investment Strategy - The article suggests utilizing the "Recent Price Strength" screen to identify stocks like GELYY that are on an upward trend supported by strong fundamentals [3]. - Investors are encouraged to explore over 45 Zacks Premium Screens tailored to different investing styles to find potential winning stocks [8]. - The Zacks Research Wizard tool is recommended for backtesting stock-picking strategies to ensure past profitability [9].

Summary of Geely Automobile Holdings 4Q24 Earnings Call Company Overview - **Company**: Geely Automobile Holdings - **Industry**: China Autos & Shared Mobility - **Date of Call**: March 20, 2025 Key Takeaways Industry and Company Performance - Geely aims for a sales volume of **2.71 million vehicles** in 2025, representing a **24.5% year-over-year increase** [2] - The company targets **1.5 million NEV (New Energy Vehicle) sales**, which is a **69% year-over-year increase**, with plans to launch **ten new models** in 2025 [9] Product Development - The new model cycle includes **2 additional SUVs and 2 additional sedans**, covering segments from A0 to B+ class [2] - All new models will feature the **Qianli Haohan autonomous driving (AD) system** [2] - Geely is committed to internal combustion engine (ICE) development while integrating AD functions [2] International Expansion - Geely targets **467,000 overseas sales**, a **15% year-over-year increase**, aiming to become the top Chinese brand in the Middle East and among the top three in Eastern Europe [3] - The company anticipates **100% year-over-year volume growth** in the Asia-Pacific and Latin America regions [3] - By leveraging partnerships with Volvo, Geely plans to expand its **4S channels** from **46 to 150** by year-end [3] Technological Advancements - Geely has developed a comprehensive **AI capability** for autonomous driving, smart cockpits, and related technologies, accumulating **10 billion kilometers** of real driving data [4] - The company boasts **23.5 EFLOPS** of computing power across its ecosystem partners, enhancing AD training and AI features [4] - ZEEKR, a subsidiary, plans to launch **door-to-door autonomous driving functions** in April [4] Financial Outlook - Profitability is expected to improve with a **16.5% gross profit margin (GPM)** in 2025, up from **15.9% in 2024**, driven by a better product mix and cost reduction efforts [9] - Geely has **Rmb 40 billion** in cash as of December 2024, indicating no immediate fundraising plans [9] Risks and Challenges - Potential risks include a slowdown in domestic vehicle demand and expanding losses in NEV businesses due to price competition [12] - Competition and protectionism may hinder overseas sales growth [12] Market Position - Current stock rating for Geely is **Overweight** with a price target of **HK$21.00** [6] - The stock closed at **HK$17.98** on March 19, 2025, with a market capitalization of **Rmb 168.26 billion** [6] Conclusion Geely Automobile Holdings is positioning itself for significant growth in 2025 through new model launches, international expansion, and technological advancements in autonomous driving. The company is optimistic about profitability improvements while being mindful of potential market risks.

March 20, 2025 06:08 AM GMT Geely Automobile Holdings | Asia Pacific 4Q in line - Higher GPM and disposal gain offset higher opex Reaction to earnings Unchanged In-line Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Geely reported 4Q24 earnings of Rmb3.6bn, growing 36% QoQ and 45% YoY, in line with our expectations, where higher GPM and a one-off disposal gain of Rmb1.6bn offset higher opex. Ful ...

Financial Performance - Total vehicle sales increased by 32% to 2,176,567 units in 2024, compared to 1,648,515 units in 2023[3]. - Revenue rose by 34% to RMB 240,194,270,000 in 2024, up from RMB 179,203,592,000 in 2023[3]. - Net profit for the year surged by 240% to RMB 16,799,095,000, compared to RMB 4,935,018,000 in the previous year[5]. - Basic earnings per share increased by 219% to RMB 1.64, up from RMB 0.51 in 2023[5]. - The proposed final dividend is HKD 0.33 per share, a 50% increase from HKD 0.22 per share in 2023[4]. - The company reported a pre-tax profit of RMB 18,403,553,000, compared to RMB 4,949,942,000 in 2023[5]. - The total comprehensive income for the year amounted to RMB 16,071,111 thousand, reflecting a significant contribution from profit attributable to equity holders of RMB 16,799,095 thousand[12]. - The company reported a profit of RMB 16,487,558 thousand for the year, which is a substantial increase compared to previous periods[12]. Assets and Liabilities - Total assets increased to RMB 125,321,709,000 in 2024, compared to RMB 94,986,761,000 in 2023[8]. - Non-current assets increased to RMB 104,069,950,000 in 2024, up from RMB 78,962,781,000 in 2023[8]. - The total liabilities classified as held for sale amounted to RMB 7,885,018,000 as of December 31, 2023[131]. - The total liabilities of the Lynk & Co Group are RMB 37,170,835 thousand for 2024, compared to RMB 34,363,313 thousand in 2023[97]. - The total amount of trade receivables from related parties controlled by major shareholders increased to RMB 11,193,408,000 in 2024 from RMB 9,190,957,000 in 2023, a rise of 21.8%[104]. Cash Flow and Investments - Operating cash flow for the year was RMB 30,006,013, up 21.5% from RMB 24,649,561 in the previous year[13]. - The company reported a net increase in cash and cash equivalents of RMB 4,078,984, compared to RMB 3,433,947 in the previous year[15]. - The company incurred a loss of RMB 9,097,711 from the estimated loss of partial interests, which was not present in the previous year[13]. - The company reported a cash inflow of RMB 1,757,540,000 from the acquisition of Ningbo Passenger Vehicle, after accounting for the cash consideration paid[150]. Research and Development - Research and development expenses rose to RMB 10,419,240,000, an increase of 33% from RMB 7,809,997,000 in 2023[5]. - The revenue from research and development and related technical support services grew to RMB 7,900,108 thousand, an increase of 20% from RMB 6,591,992 thousand[42]. - The company plans to launch 9 new energy vehicle products in 2024, including models from the Galaxy, Zeekr, and Lynk & Co brands[179]. Foreign Exchange and Risk Management - The company experienced a foreign exchange loss of RMB 709,227 thousand due to the translation of overseas financial statements[12]. - The company faced significant foreign exchange losses due to currency fluctuations in emerging markets, impacting financial performance[186]. - The company has implemented a comprehensive risk management strategy to mitigate foreign exchange risks, including entering into foreign currency forward contracts[188]. Shareholder Activities - The company declared a final dividend of RMB 1,915,763 thousand for the previous year, impacting retained earnings[11]. - The total amount of transactions with owners during the year was RMB (8,802,679) thousand, highlighting significant shareholder activities[12]. - The company's authorized share capital increased from HKD 240 million (12 billion shares) to HKD 360 million (18 billion shares) as of December 31, 2024, approved at the annual general meeting on May 31, 2024[136]. Acquisitions and Joint Ventures - The company completed the acquisition of Lynk & Co, with a total consideration of RMB 9,000,000,000, which will increase its stake in the company to 51%[160]. - The company aims to reduce ongoing related party transactions and enhance operational independence through strategic acquisitions[151]. - The establishment of the joint venture Horse Powertrain was agreed upon on November 8, 2022, with contributions valued at €2,310,000,000 from the company, €1,190,000,000 from Geely, and €3,500,000,000 from Renault[86][87]. Employee and Operational Metrics - The total number of employees increased to approximately 62,000 as of December 31, 2024, compared to 60,000 a year earlier[193]. - The company has established a comprehensive AI layout, achieving a computing power of 23.5 EFLOPS and developing the first full-stack self-researched automotive AI model, which is certified by the China Academy of Information and Communications Technology[182]. Future Outlook - The company has set a sales target of 2.71 million vehicles for 2025, which is approximately a 25% increase from the total sales achieved in 2024[184]. - The group plans a capital expenditure budget of approximately RMB 15 billion for 2025, focusing on new models and smart technology development[177].

Core Viewpoint - The article emphasizes the importance of timing and sustainability in stock trends for successful short-term investing, highlighting that sound fundamentals and positive earnings revisions are crucial for maintaining momentum in stock prices [1][2]. Group 1: Stock Performance - Geely Automobile Holdings Ltd. (GELYY) has shown a solid price increase of 25.2% over the past 12 weeks, indicating strong investor interest [4]. - The stock has also increased by 20.5% over the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, GELYY is trading at 94.6% of its 52-week high-low range, indicating a potential breakout [5]. Group 2: Fundamental Strength - GELYY holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like GELYY that are on an uptrend supported by strong fundamentals [3]. - The article suggests that investors should consider other stocks that meet similar criteria and explore various Zacks Premium Screens tailored to different investing styles [8].

Summary of Geely Automobile Conference Call Company Overview - Geely Automobile has completed self-research on the three core components of vehicles, leading to sales growth driven by sedan models (Yuanjing, Emgrand) and SUVs (Boyue) [2][3] - The company is transitioning towards high-end markets through acquisitions (e.g., Volvo) and joint ventures (e.g., Lynk & Co), which has positively impacted sales and stock prices [2][3] Industry and Market Position - Geely Holdings Group encompasses multiple passenger car brands including Geely Automobile, Volvo, smart, and Proton, as well as commercial vehicle brands [2][6] - The company has established a full industry chain layout with subsidiaries listed in Hong Kong, including Geely Galaxy New Energy, Zeekr, Lynk & Co, and joint ventures with Renault [2][6] Key Developments and Strategies - Geely has shifted from a three-stage hybrid development to a single-stage hybrid, significantly enhancing the range of its vehicles [4] - The company has launched the Taizhou Declaration to integrate teams and adjust equity structures, strengthening collaboration in electrification and intelligence [2][5][8] - The "Geely 4.0" era is marked by strategic adjustments to promote electric and intelligent vehicle development [8][9] Financial Performance and Projections - In 2023, Geely's sales entered an upward trajectory, with significant year-on-year growth expected in 2024 [10] - The company anticipates a net profit of 10.037 billion RMB in 2025, increasing to 18 billion RMB by 2026, with a sales target of 2.17 million units in 2024 and 2.7 million in 2025 [21] Brand Performance - Geely Galaxy focuses on plug-in hybrid and pure electric vehicles, competing with BYD, and has seen strong sales performance [12] - The Zeekr brand has established a presence in the high-end electric vehicle market, with sales increasing from 70,000 units in 2022 to over 200,000 units in 2024 [13] - Lynk & Co is transitioning from a mid-to-high-end fuel vehicle brand to a mid-to-high-end new energy brand, facing short-term sales pressure but expected recovery [14] Technological Advancements - Geely has developed two main vehicle platforms: SEA and GEE, covering various energy types and enhancing cost-effectiveness [15] - The company has made significant improvements in hybrid technology, including the introduction of silicon carbide modules and optimized control technologies [17] - In the field of intelligent driving, Geely covers high, medium, and low-level solutions, emphasizing a fully self-developed system [18] AI and Smart Features - Geely is advancing in AI with the development of new AI models and collaborations with leading tech companies [20] - The company employs a dual strategy for smart cockpits, integrating self-developed operating systems with existing technologies [19] Investment Recommendation - Investment in Geely is recommended due to its strategic positioning in the vehicle model cycle, advancements in smart technology, and potential for significant changes in the AI landscape [22]

Investment Rating - The report maintains a "Buy" rating for Geely Automobile [1] Core Views - Geely Automobile is positioned to enter a new growth phase in the smart electric vehicle era, with its technology foundation and brand structure ready for expansion [7][40] - The company aims to achieve a sales target of 1 million units by 2025, supported by the launch of new models and a focus on resource integration [7][40] Summary by Sections Strategic Focus - The "Taizhou Declaration" marks a new strategic phase for Geely, emphasizing resource integration and optimization of business structures [10][14] - The company plans to enhance its competitive edge through a three-pronged transformation strategy: organizational culture, competitiveness, and management model [18] Galaxy Division - Geely aims to align with industry leaders and achieve significant scale by 2025, focusing on the mainstream new energy market [23][31] - The company has faced challenges in its transition to new energy vehicles, particularly in the plug-in hybrid segment, but is now positioned for a scale effect [23][31] Zeekr & Lynk & Co - The integration of Zeekr and Lynk & Co is aimed at enhancing brand positioning and resource sharing, with a focus on high-end luxury electric vehicles [19][21] - Both brands are expected to see significant sales growth, entering a critical period for profitability [19][21] Technology and Innovation - Geely has developed a comprehensive AI technology system for smart vehicles, with plans to enhance self-driving capabilities by 2025 [4][21] - The company is advancing its hybrid technology, with the EM-I system expected to compete effectively against rivals like BYD [32][36] Financial Projections and Investment Recommendations - The report revises profit forecasts for Geely, projecting net profits of 16.013 billion, 14.046 billion, and 18.838 billion for 2024, 2025, and 2026 respectively [4][7] - The company is expected to enter a new growth cycle as new models are launched, maintaining a "Buy" rating [7][40]

Core Insights - The collaboration between Jiyue Star and Geely Automobile Group has led to the open-source release of two multimodal large models: Step-Video-T2V for video generation and Step-Audio for voice interaction [1] Group 1: Model Performance - The Step-Video-T2V model is reported to have a leading parameter count and performance in the global open-source video generation field [1] - Step-Audio is noted as the industry's first product-level open-source voice interaction model [1]

Group 1 - Geely Automobile announced that all conditions precedent for the Lynk & Co acquisition and capital injection have been met, with the transaction completed on February 14, 2025 [1] - Following the completion of the acquisition and capital injection, Lynk & Co is now owned 49% by Ningbo Geely and 51% by Zhejiang Zeekr [1] - Lynk & Co has become an indirect non-wholly-owned subsidiary of both Zeekr and Geely [1] - The group is expected to record an unaudited revenue of approximately RMB 6.47 billion post-acquisition [1]