吉利汽车 | 9月：银河月销表现亮眼 股份回购彰显信心【民生汽车 崔琰团队】
汽车琰究·2025-10-08 14:44

Core Viewpoint - The company reported strong sales performance in September, with a total wholesale volume of 273,000 units, representing a year-on-year increase of 35.2% and a month-on-month increase of 9.2% [2][4]. Sales Performance - In September, the total wholesale volume reached 273,000 units, with a year-on-year growth of 35.2% and a month-on-month growth of 9.2% [4]. - Cumulative wholesale volume from January to September was 2.17 million units, up 45.7% year-on-year [2][4]. - New energy vehicle sales in September were 165,201 units, marking an 81.3% year-on-year increase and a 12.1% month-on-month increase, accounting for 60.5% of total sales [2][4]. - Cumulative new energy vehicle sales from January to September reached 1.168 million units, up 113.9% year-on-year [2][4]. Brand Performance - The Geely brand sold 222,000 units in September, with the Galaxy model contributing 121,000 units [2][4]. - Zeekr and Lynk & Co sold 18,257 units and 32,902 units in September, respectively, with year-on-year growth of 0.5% and 23.5% [5]. New Model Launches - The Galaxy flagship SUV model M9 was launched in September, with a promotional price range of 173,800 to 238,800 RMB, receiving over 23,000 orders within 24 hours [4]. - The Zeekr 9X, a high-end SUV, was launched on September 29, with a price range of 455,900 to 589,900 RMB, and achieved over 10,000 pre-orders within 13 minutes [5]. Share Buyback Plan - On October 6, the company announced a share buyback plan with a maximum amount of 2.3 billion HKD, demonstrating confidence in long-term development [6]. - The buyback will optimize the capital structure and enhance earnings per share [6]. Financial Projections - Revenue projections for 2025-2027 are 404.78 billion, 489.69 billion, and 572.83 billion RMB, with net profits of 16.21 billion, 22.09 billion, and 25.97 billion RMB, respectively [7][10]. - Earnings per share (EPS) are projected to be 1.61, 2.19, and 2.58 RMB for the same period [7][10]. Market Outlook - The company aims for an annual sales target of 3 million units, with a strong focus on new energy vehicles [4]. - The high-end market is expected to see accelerated growth due to new model launches and increased market share [5].