智通财经网·2026-02-05 06:47Core Viewpoint - Geely Automobile is expected to achieve net profits of 17.041 billion, 20.604 billion, and 24.318 billion RMB for the years 2025 to 2027, maintaining a target price of 20.79 RMB and 23.37 HKD, with a "Buy" rating maintained [1] Group 1: Sales Performance - In January, Geely's total sales reached 270,200 units, a year-on-year increase of 1.3%, slightly outperforming industry expectations [1] - The overall retail market for narrow passenger vehicles in January is estimated at approximately 1.8 million units, with a year-on-year growth of 0.3%, while the retail of new energy passenger vehicles is expected to be around 800,000 units, growing approximately 7.5% [1] Group 2: Strategic Developments - Geely's brand sales in January reached 217,400 units, with a month-on-month increase of 25.8%, driven by the "oil-electric dual" strategy [2] - New energy vehicle sales in January were 124,300 units, a year-on-year increase of 2.6%, while fuel vehicle sales were 145,900 units, a year-on-year increase of 0.2% and a month-on-month increase of 76.8% [2] - Geely's exports in January reached 60,500 units, a year-on-year increase of 121.2% and a month-on-month increase of 50.1%, indicating successful overseas expansion [2] Group 3: Brand Performance - The Zeekr brand achieved sales of 23,900 units in January, a year-on-year increase of 99.7%, while Lynk & Co. sold 28,900 units [3] - The Zeekr 9X has become the sales champion in the large SUV segment, while the Zeekr 009 has been the sales champion in the MPV segment for two consecutive years [3] - The upcoming Zeekr 8X aims to cover the full-size high-end SUV market and is expected to feature advanced technology [3]