GEELY AUTO(HK:00175) 晚点LatePost·2025-11-03 08:26Core Insights - Geely Galaxy is experiencing significant sales growth, with nearly 1 million units expected to be sold this year, leading to an optimistic outlook for next year's sales [3][6][9]. Production Capacity and Strategy - The transformation of the former SAIC-GM Beisheng factory in Shenyang is underway to supplement Geely Galaxy's production capacity due to current constraints [4][10]. - Geely's production capacity in China exceeds 3 million units, with over 50% allocated to new energy vehicles [10]. - The company is focusing on internal upgrades and resource reallocation rather than building new factories, as stated by Geely's leadership [13][17]. Sales Performance - In October, Geely Galaxy sold 127,000 vehicles, marking a 101% year-on-year increase and achieving its annual sales target ahead of schedule [6][9]. - The Galaxy series, initially launched as a product line, has seen a resurgence in sales due to competitive pricing and product features, with a projected annual sales of 494,000 units in 2024, an increase of nearly 80% [6][8]. Competitive Positioning - Geely Galaxy's strategy involves competing with BYD's models by offering "affordable prices and superior configurations," exemplified by the Galaxy Star Wish, which has become a best-seller in its segment [8][9]. - The Galaxy series has expanded its product matrix with new models like the Galaxy A7 and M9, which have quickly gained traction in the market [9][12]. International Expansion - Geely's exports of new energy vehicles surged by 214% in the first nine months of the year, with significant growth in Europe and Latin America [15][16]. - The company is adopting a multi-brand strategy in international markets, with plans to establish around 50 stores in the UK by 2025 [16][17]. - Geely is exploring local production options in international markets, including a partnership with Renault in Brazil to utilize existing production capacity [17][18].