Chang Jiang Shang Bao·2025-05-15 23:17Core Viewpoint - Geely Automobile has reported record quarterly performance for Q1 2023, with significant increases in revenue and net profit, driven by strong sales growth and effective cost management [2][3]. Financial Performance - The company achieved a revenue of 72.495 billion yuan, a year-on-year increase of approximately 25% [2][3]. - The net profit attributable to shareholders reached 5.672 billion yuan, marking a substantial year-on-year growth of 264% [2][3]. - Q1 sales volume reached 703,800 units, a 48% increase compared to the same period last year [3]. - The gross margin and net margin improved to 15.78% and 8.10%, respectively, reflecting increases of 2.12 percentage points and 5.42 percentage points year-on-year [6]. Sales and Product Performance - The sales of the Galaxy brand surged by 214% year-on-year, contributing significantly to overall sales growth [3]. - The company sold 238,500 pure electric vehicles, representing a year-on-year increase of 181%, and 100,700 plug-in hybrid vehicles, up 70% [3]. - In April 2023, Geely's sales continued to grow, reaching 153,300 units, a 53% increase year-on-year [6]. Cost Management - Distribution and sales expenses decreased by 12.05% to 3.635 billion yuan, while administrative expenses slightly reduced by 2.01% [4]. - The cost of sales increased to 61.058 billion yuan, a 24.28% rise, but this growth rate was lower than that of revenue [5]. Strategic Developments - Geely aims to achieve a sales target of 2.71 million units for 2025, a 25% increase from 2024, with specific targets for various brands [7]. - The company is in the process of privatizing Zeekr, aiming to consolidate its assets and enhance competitiveness in the passenger vehicle market [8][9]. - A significant management restructuring has occurred, with An Conghui appointed as the CEO of Geely Holding Group [10].