Hua Er Jie Jian Wen·2025-11-17 06:31Core Viewpoint - Geely Automobile reported significant growth in both sales and profits for Q3 2025, with total sales increasing by 43% to 761,000 units and revenue rising by 27% to RMB 89.192 billion, indicating strong performance in both fuel and new energy vehicles [1][3][5]. Financial Performance - In Q3 2025, Geely's revenue reached RMB 89.2 billion, marking a historical high and a 15% increase from the previous quarter [5]. - The net profit attributable to the parent company was RMB 3.8 billion, reflecting a 59% year-on-year increase [5]. - The total gross profit for Q3 was RMB 14.8 billion, with an 11% quarter-on-quarter growth [5]. Sales and Delivery - Zeekr, Geely's premium electric vehicle brand, delivered approximately 140,000 units in Q3 2025, a 13% increase year-on-year, generating revenue of about RMB 31.6 billion [6]. - As of the end of October, Geely has achieved a cumulative sales volume of 2.477 million units for the year, reaching 82.6% of its annual target of 3 million units [1]. Cost Management and Profitability - The company attributed its profit growth to scale effects, cost control, and brand integration synergies, with net profit growth outpacing revenue growth [3]. - Adjusted net profit for the first nine months of the year was RMB 10.62 billion, a 59% increase year-on-year when excluding one-time items from the previous year [3]. Accounting Changes - Geely has changed its accounting policy effective January 1, 2025, from the "purchase method" to the "equity method" for joint control entities, impacting the way acquisitions are recorded and necessitating restatement of prior financial results [8]. - This change aims to enhance financial reporting transparency and align with international practices, affecting the financial data comparison for 2024 [8].