Zhi Tong Cai Jing·2025-08-14 04:18Core Viewpoint - Geely Automobile reported strong mid-year results for the six months ending June 30, 2025, with significant increases in revenue and vehicle sales, particularly in the new energy vehicle (NEV) segment, indicating robust growth and market positioning in both domestic and international markets [1][2] Group 1: Financial Performance - Revenue reached 150.285 billion RMB, a year-on-year increase of 26.51% [1] - Gross profit was 24.719 billion RMB, up 24.41% year-on-year [1] - Net profit attributable to shareholders was 9.29 billion RMB, with basic earnings per share at 0.9218 RMB [1] Group 2: Sales Performance - Total vehicle sales reached 1,409,180 units, a substantial year-on-year growth of 47% [1] - NEV sales amounted to 725,151 units, representing a 126% increase year-on-year, accounting for 51.5% of total sales [1] - Sales of fuel vehicles, plug-in hybrids, and pure electric vehicles were 684,029 units, 214,348 units, and 510,803 units, respectively, with year-on-year growth rates of 8%, 61%, and 173% [1] Group 3: Market Positioning - In the Chinese market, total sales reached 1,225,066 units, a significant year-on-year increase of 62%, with a market share of 11.2%, ranking second among domestic brands [1] - NEV sales in China were 684,693 units, making up 55.9% of the Chinese market sales, surpassing the market penetration rate of 50.4% [1] - Export sales totaled 184,114 units, a decrease of 8% year-on-year, while NEV export sales surged by 146% to 40,458 units, constituting 22% of total exports [1] Group 4: Strategic Adjustments - Based on strong performance, the company raised its full-year sales target from 2.71 million to 3 million units [2] - The Geely Galaxy brand has seen strong growth in the mainstream NEV market, increasing its share in the company's sales structure [2] - Despite increased competition and a rise in NEV sales, the company maintained a stable gross margin of 16.4%, with a slight year-on-year decrease of 0.3 percentage points [2] Group 5: Cost Management - Distribution and sales expenses rose by 6.4% to 8.38 billion RMB, primarily for NEV brand channel development and marketing activities [2] - The increase in expenses was offset by strict cost control and synergies from integration, leading to a 1 percentage point decrease in the ratio of distribution and sales expenses to revenue, indicating improved resource efficiency [2]