Ju Chao Zi Xun·2025-11-17 09:40Core Insights - Geely Automobile Holdings Limited reported strong overall operational performance for the third quarter of 2025, with simultaneous growth in both fuel and new energy vehicle sales, achieving multiple breakthroughs in sales, revenue, and profit [2] Financial Performance - In Q3 2025, Geely's total sales reached 761,000 units, a significant increase of 43% compared to 534,000 units in the same period of 2024 [3] - Revenue for the same period was 89.192 billion yuan, up 27% from 70.486 billion yuan year-on-year [3] - Profit attributable to shareholders was 3.82 billion yuan, a remarkable increase of 59% from 2.398 billion yuan in Q3 2024 [3] - For the first nine months of 2025, total sales reached 2.1702 million units, a 46% increase from 1.4897 million units in the same period of 2024 [3] - Cumulative revenue for the first nine months was 239.477 billion yuan, a 26% increase from 189.534 billion yuan year-on-year [3] - Profit attributable to shareholders for the first nine months was 13.11 billion yuan, slightly down from 13.213 billion yuan in 2024, but a 59% increase when excluding non-recurring factors [3] Business Integration and Growth Drivers - The strong sales growth was driven by the synergistic development of fuel and new energy vehicle businesses, enhancing profitability through scale effects, cost control, and brand integration [4] - The new accounting policy adopted on April 10, 2025, reflects the economic substance of internal restructuring, improving financial report transparency and comparability [4] - The acquisition of Lynk & Co and six target companies has strengthened Geely's direct dealership channels, reducing reliance on third-party dealers and enhancing brand influence [4] New Energy Segment Performance - Zeekr, Geely's core new energy brand, showed impressive performance in Q3 2025, with total deliveries increasing by 13% year-on-year [5] - Revenue for Zeekr reached 81.014 billion yuan, a 9.4% increase from 77.192 billion yuan in the same period of 2024 [5] - Gross margin improved to 19%, up 5.1 percentage points from 13.9% in 2024, indicating enhanced profitability [5] - Net loss for Zeekr significantly narrowed to 523 million yuan, compared to a loss of 2.375 billion yuan in the same period of 2024, reflecting improved business quality [5]