Core Insights - The 2026 Geely Star Wish was launched at the Geely Automotive User Conference, featuring six variants and a price range of 65,800 to 95,800 yuan [1][11] - The vehicle is equipped with advanced technologies including CATL battery cells, an 11-in-1 intelligent electric drive, and a large 70L front trunk [1][8] - The Star Wish has achieved significant sales milestones, with over 50,000 units sold in September 2023 and a cumulative sales figure exceeding 400,000 units since its launch [7][11] Product Features - The new model offers two trendy colors, "Chanson Purple" and "Cocoa Mi," and includes a long-range version with a range of 410 km [1] - The Star Wish STAR limited edition features sporty design elements and a dedicated sports kit with 19 configurations [3][6] - The vehicle's architecture is designed for global standards, providing superior driving experience and safety features, including a rear-drive layout and advanced suspension [7][8] Technological Innovations - The Star Wish is equipped with the industry's first 11-in-1 intelligent electric drive, achieving an efficiency of 89.2% and a compact size of 66L [8] - Charging efficiency is highlighted, with the ability to charge from 30% to 80% in just 21 minutes, and battery life exceeding national standards [10] - The vehicle incorporates advanced safety features, including a unique aluminum battery protection structure and enhanced visibility with a 279° panoramic view [10] Market Positioning - Geely aims to transition from producing affordable vehicles to creating intelligent premium cars, with the 2026 Star Wish reinforcing its market presence [11] - The Geely Galaxy brand has rapidly gained traction, reaching 1.45 million users and becoming the fastest brand to surpass one million sales in China's new energy sector [11] - The launch of the 2026 Star Wish is expected to further enhance its market appeal and solidify its position as a leading model in the automotive industry [11]

Core Insights - The 2026 Geely Star Wish was launched at the Geely Automotive User Conference, featuring six variants that cater to diverse user needs with high standard configurations [1][3] - The vehicle is equipped with advanced technologies including CATL battery cells, an 11-in-1 intelligent electric drive, and a large 70L front trunk, addressing user concerns about range anxiety with a new 410KM version [1][21] Pricing and User Benefits - The limited-time pricing for the 2026 Geely Star Wish ranges from 65,800 to 95,800 yuan, accompanied by eight promotional purchase benefits to enhance user experience and reduce ownership costs [3][27] Marketing and Brand Engagement - The launch event featured celebrity endorsements, including actress Cecilia Cheung and singer Richie Jen, enhancing the brand's appeal and engagement with younger consumers [5][27] Design and Aesthetics - The new model introduces two trendy colors, "Chanson Purple" and "Cocoa Rice," to meet diverse aesthetic preferences, while maintaining a classic design that emphasizes elegance and individuality [11][27] Sales Performance - Since its launch last October, the Geely Star Wish has achieved significant sales milestones, surpassing 50,000 units in September and accumulating over 400,000 units in total sales, establishing itself as a market phenomenon [10][27] Space and Comfort - The vehicle offers a spacious interior that exceeds typical A0-class standards, accommodating five adults comfortably, and includes innovative storage solutions like a 70L front trunk and various storage compartments [13][27] Driving Experience - The Geely Star Wish features a rear-drive and independent suspension architecture, providing a high-quality driving experience that surpasses competitors in terms of handling and stability [17][27] Electric Drive Technology - The vehicle is equipped with the industry's first 11-in-1 intelligent electric drive, achieving a leading efficiency of 89.2% and a compact design that maximizes trunk space [21][27] Safety Features - The Geely Star Wish incorporates advanced safety measures, including a unique aluminum battery protection structure and enhanced visibility features, ensuring comprehensive safety for occupants [23][27] Intelligent Experience - The vehicle is integrated with the Galaxy Flyme Auto intelligent cockpit system, offering advanced features and AI capabilities that enhance user interaction and convenience [26][27]

Core Insights - The 2026 Geely Star Wish was launched at the Geely Automotive User Conference, featuring six variants with high standard configurations to meet diverse user needs [1][3] - The vehicle is equipped with advanced technologies including CATL battery cells, an 11-in-1 intelligent electric drive, and a large 70L front trunk, addressing user concerns about range anxiety with a new 410KM version [1][14] Pricing and User Benefits - The limited-time pricing for the 2026 Geely Star Wish ranges from 65,800 to 95,800 yuan, accompanied by eight promotional purchase benefits to enhance user experience and reduce ownership costs [3][19] Design and Customization - The Star Wish STAR limited edition features sporty design elements and customizable color options, appealing to younger consumers seeking individuality [5][8] - New color options "Chanson Purple" and "Cocoa Rice" were introduced to cater to diverse aesthetic preferences [1][8] Sales Performance - Since its launch last year, the Geely Star Wish has achieved remarkable sales, surpassing 50,000 units in September and accumulating over 400,000 units in total, establishing itself as a market phenomenon [7][19] Vehicle Specifications - The vehicle boasts a classic design with optimized dimensions for spaciousness, allowing comfortable seating for five adults and innovative storage solutions [10][12] - It features a rear-drive and independent suspension architecture, enhancing driving dynamics and safety [12][14] Advanced Technology - The Star Wish incorporates the industry's first 11-in-1 intelligent electric drive, achieving a leading efficiency of 89.2% and a compact size of 66L [14] - The battery system supports rapid charging, reaching 30%-80% in just 21 minutes, and has undergone rigorous testing to ensure reliability [14][17] Safety Features - The vehicle is designed with comprehensive safety measures, including a unique aluminum battery protection structure and advanced side impact protection [17] - Interior materials are selected for low odor and environmental safety, ensuring passenger health [17] Intelligent Experience - The vehicle is equipped with the upgraded Galaxy Flyme Auto intelligent cockpit system, enhancing user interaction and experience [19] - Geely aims to redefine the electric vehicle market with its "Smart Geely 2025 Strategy," focusing on affordable and high-quality vehicles [19]

Core Viewpoint - The report indicates a significant growth in the operating performance of Geely Automobile in the first half of 2025, with optimistic expectations for annual sales and performance due to the launch of several key models in the second half of the year [1][2] Group 1: Financial Performance - In the first half of 2025, Geely Automobile achieved sales of 1.409 million vehicles, representing a year-on-year increase of 47% [2] - Revenue for the same period reached 150.3 billion yuan, a year-on-year growth of 27% [1] - The core net profit attributable to shareholders was 6.66 billion yuan, showing a remarkable year-on-year increase of 102% [1] Group 2: Sales Breakdown - Of the total sales, 725,000 units were new energy vehicles, including 511,000 pure electric vehicles and 214,000 plug-in hybrids, with respective year-on-year growth rates of 173% and 61% [2] - By brand, Geely brand sold 1.164 million units (up 57%), Lynk & Co sold 154,000 units (up 22%), and Zeekr sold 91,000 units (up 3%) [2] - Overseas exports totaled 184,000 units, reflecting an 8% decline year-on-year [2] Group 3: Future Outlook - The company aims for a total sales target of 3 million vehicles for the year 2025 [2] - Several new models, including Geely Galaxy A7, M9, and others, are set to launch in the second half of 2025, which is expected to support the sales target [2] - The global expansion of Geely, Zeekr, and Lynk & Co brands is accelerating, contributing to the overall sales growth strategy [2] Group 4: Profitability Projections - The projected net profit attributable to shareholders for 2025-2027 is estimated at 16.3 billion yuan, 18.2 billion yuan, and 23.7 billion yuan respectively, with corresponding EPS of 1.62 yuan, 1.81 yuan, and 2.35 yuan [1] - A target price of 29.43 HKD is set for 2025, based on a PE ratio of 16.6 times [1]

Group 1 - The company has raised its full-year sales target for 2025 to 3 million units, reflecting a positive outlook for overall operating performance [1][2] - The company expects net profit attributable to shareholders for 2025-2027 to be 16.3 billion, 18.2 billion, and 23.7 billion yuan respectively, with corresponding EPS of 1.62 yuan, 1.81 yuan, and 2.35 yuan [1] - The company maintains a "buy" rating with a target price of 29.49 HKD based on a PE ratio of 16.6 times for 2025 [1] Group 2 - In June 2025, the company's sales reached 236,000 units, a year-on-year increase of 42%, with new energy vehicle sales of 122,000 units, including 85,000 pure electric and 37,000 plug-in hybrid vehicles, representing year-on-year growth of 129% and 30% respectively [1] - For the first half of 2025, the company's sales totaled 1.409 million units, a year-on-year increase of 47%, with new energy vehicle sales of 725,000 units, including 511,000 pure electric and 214,000 plug-in hybrid vehicles, showing year-on-year growth of 173% and 61% respectively [2] - The company’s brand performance showed that Geely brand sales were 1.164 million units, a year-on-year increase of 57%, while Lynk & Co brand sales were 154,000 units, up 22%, and Zeekr brand sales were 91,000 units, up 3% [2]

Investment Rating - The investment rating for the company is upgraded to "Buy" [1][7]. Core Views - The company has raised its full-year sales target for 2025 to 3 million units, maintaining an optimistic outlook for its overall operating performance [3][7]. - The report highlights a strong sales performance in June 2025, with total sales reaching 236,000 units, a year-on-year increase of 42% [7]. - The company expects continued growth in revenue and net profit, driven by its "Smart Geely 2025" strategy [7]. Financial Summary - Revenue is projected to grow from 179,204 million RMB in 2023 to 321,801 million RMB in 2025, reflecting a growth rate of 34% [6]. - Net profit is expected to increase significantly from 5,166 million RMB in 2023 to 16,299 million RMB in 2025, with a growth rate of 222% [6]. - The company’s earnings per share (EPS) are forecasted to be 1.62 RMB in 2025, with a price-to-earnings (PE) ratio of 16.6 times, leading to a target price of 29.49 HKD [7]. Sales Performance - In June 2025, the company sold 236,000 vehicles, with new energy vehicle sales reaching 122,000 units, a year-on-year increase of 129% for pure electric vehicles and 30% for plug-in hybrids [7]. - For the first half of 2025, total sales reached 1,409,000 units, a 47% increase year-on-year, with new energy vehicle sales at 725,000 units, reflecting a growth of 173% for pure electric vehicles [7].

Core Viewpoint - The report indicates a positive outlook for Geely Automobile's sales and financial performance, driven by the launch of several new models and the implementation of the "Smart Geely 2025" strategy [1][2] Sales Performance - In May 2025, Geely's total sales reached 235,000 units, a year-on-year increase of 46%, with new energy vehicle (NEV) sales at 138,000 units, including 95,000 pure electric vehicles (EVs) and 43,000 plug-in hybrids, representing year-on-year growth of 178% and 76% respectively [1] - From January to May 2025, Geely's total sales amounted to 1.173 million units, up 49% year-on-year, with NEV sales at 603,000 units, including 426,000 EVs and 177,000 plug-in hybrids, showing year-on-year increases of 184% and 70% respectively [2] Brand Performance - In May 2025, sales by brand included 189,000 units for the Geely brand (up 57% year-on-year), 28,000 units for the Lynk & Co brand (up 27%), and 19,000 units for the Zeekr brand (up 2%) [1] - For the first five months of 2025, the Geely brand sold 971,000 units (up 57% year-on-year), Lynk & Co sold 128,000 units (up 26%), and Zeekr sold 74,000 units (up 9%) [2] Export Performance - In May 2025, overseas exports totaled 30,000 units, a year-on-year decline of 20% [1] - For the first five months of 2025, overseas exports reached 144,000 units, down 12% year-on-year [2] Future Outlook - Geely plans to launch 10 new NEV models in 2025, with a sales target of 2.71 million units for the year, including 1.5 million NEVs [2] - The Geely brand aims for a sales target of 2 million units, with plans to introduce 5 new NEV models and several refreshed models [2] - The Zeekr Technology Group targets sales of 710,000 units, including 320,000 units for the Zeekr brand and 390,000 units for the Lynk & Co brand, with plans for 5 new NEV models and multiple refreshed models [2] Financial Projections - The company expects net profit attributable to shareholders to grow, with projections of 16.3 billion yuan, 18.2 billion yuan, and 23.7 billion yuan for 2025, 2026, and 2027 respectively, and corresponding EPS of 1.62 yuan, 1.81 yuan, and 2.35 yuan [1] - A target price of 29.31 HKD is set for 2025, based on a PE ratio of 16.6 times [1]

Investment Rating - The investment rating for Geely Automobile is "Buy" [1][7]. Core Views - In May 2025, Geely's new energy vehicle sales reached a record high of over 138,000 units, with optimistic expectations for annual sales and operating performance due to the launch of several key models [3][7]. - The report anticipates Geely's net profit attributable to shareholders for 2025-2027 to be 16.3 billion RMB, 18.2 billion RMB, and 23.7 billion RMB respectively, with corresponding EPS of 1.62 RMB, 1.81 RMB, and 2.35 RMB [7]. - The report highlights a 46% year-on-year increase in May sales, with total sales reaching 235,000 units, including 138,000 new energy vehicles, which represents a 178% increase in pure electric vehicle sales and a 76% increase in plug-in hybrid sales [7]. Financial Summary - Revenue is projected to grow from 147.965 billion RMB in 2022 to 321.801 billion RMB in 2025, reflecting a growth rate of 34% [6][9]. - Gross profit is expected to increase from 20.896 billion RMB in 2022 to 51.810 billion RMB in 2025 [6]. - Net profit is forecasted to rise significantly from 5.123 billion RMB in 2022 to 16.299 billion RMB in 2025, marking a 222% increase [6][9]. - The report provides a PE ratio forecast of 22 for 2024, decreasing to 12 for 2025, and further to 11 for 2026 [6][9]. Sales Performance - For the first five months of 2025, Geely's total sales reached 1.173 million units, a 49% year-on-year increase, with new energy vehicle sales accounting for 603,000 units, up 184% [7]. - The report outlines a sales target of 2.71 million units for 2025, with a specific target of 1.5 million new energy vehicles [7].

Investment Rating - The investment rating for Geely Automobile is "Buy" [1][8] Core Views - In May 2025, Geely's new energy vehicle sales reached a record high of over 138,000 units, with optimistic expectations for annual sales and operating performance due to the launch of several key models [3][8] - The report anticipates Geely's net profit attributable to shareholders for 2025-2027 to be 16.3 billion RMB, 18.2 billion RMB, and 23.7 billion RMB respectively, with corresponding EPS of 1.62 RMB, 1.81 RMB, and 2.35 RMB [8][10] - The report highlights a 46% year-on-year increase in May sales, with total sales reaching 235,000 units, including 138,000 new energy vehicles, which represents a 178% increase in pure electric vehicle sales and a 76% increase in plug-in hybrid sales [8][10] Financial Summary - Revenue is projected to grow from 147.965 billion RMB in 2022 to 321.801 billion RMB in 2025, reflecting a growth rate of 34% [7][10] - Gross profit is expected to increase from 20.896 billion RMB in 2022 to 51.810 billion RMB in 2025 [7] - Net profit is forecasted to rise significantly from 5.123 billion RMB in 2022 to 16.299 billion RMB in 2025, marking a 222% increase [7][10] - The report provides a PE ratio forecast of 22 for 2024, decreasing to 12 for 2025, and further to 11 for 2026 [7][10] Sales Performance - For the first five months of 2025, Geely's total sales reached 1.173 million units, a 49% year-on-year increase, with new energy vehicle sales accounting for 603,000 units [8][10] - The report outlines a sales target of 2.71 million units for 2025, with a specific target of 1.5 million new energy vehicles [8][10] - Geely plans to launch 10 new energy models in 2025, which is expected to enhance sales growth certainty [8][10]

Core Viewpoint - The overall business outlook for Geely Automobile in Q1 2025 is optimistic, with expectations for continued growth in sales and operating performance due to the launch of several key models [1][2] Group 1: Financial Performance - In Q1 2025, Geely Automobile achieved a sales volume of 704,000 units, representing a year-on-year increase of 48% [2] - Revenue for the same period reached 72.5 billion yuan, up 25% year-on-year, while net profit attributable to shareholders was 5.67 billion yuan, marking a significant increase of 264% [1][2] - The company forecasts net profits for 2025-2027 to be 16.3 billion yuan, 18.21 billion yuan, and 23.66 billion yuan respectively, with corresponding EPS of 1.62 yuan, 1.81 yuan, and 2.35 yuan [1] Group 2: Sales and Market Strategy - Geely plans to launch 10 new energy models in 2025, with a sales target of 2.71 million units, including 1.5 million units from new energy vehicles [2] - The sales target for the Geely brand is set at 2 million units, with plans to introduce 5 new energy models and several updated models [2] - The strong growth in the new energy segment is highlighted, with sales of new energy vehicles reaching 339,000 units, including 239,000 pure electric vehicles and 101,000 plug-in hybrids, reflecting year-on-year growth of 181% and 70% respectively [2]