Core Insights - Geely Holding Group reported a total sales volume of 2.953 million vehicles in the first three quarters of 2023, representing a year-on-year increase of 29%, with new energy vehicle (NEV) sales reaching 1.591 million units, up 68% [1] - The company achieved a record quarterly sales volume of over 1 million vehicles in Q3 2023, with NEV sales of 588,000 units, marking a 59% year-on-year growth [1] - Geely's NEV penetration rate reached 54% in the first three quarters and 58% in Q3, indicating a strong momentum in electrification [1] Sales Performance - Geely Auto (0175.HK) sold 2.17 million vehicles in the first three quarters, a 46% increase year-on-year, with NEV sales totaling 1.168 million units, up 114% [1] - By brand, Geely Galaxy sold 875,000 units, a 206% increase; Lynk & Co exceeded 240,000 units, up 24%; and Zeekr sold over 140,000 units [1] - The fuel vehicle segment also performed well, with Geely's China Star selling over 910,000 units, a 5% increase year-on-year [1] Product Development - New products such as Lynk & Co 900, Geely Galaxy M9, and Zeekr 9X have been launched, becoming popular models in their respective segments and driving the brand's premiumization [1] - The launch of the new Dongfang Yao series further expands Geely's product lineup [1] Global Expansion - Geely's overseas export sales reached nearly 300,000 units in the first three quarters, with NEV exports increasing significantly [2] - In September, Geely's NEV overseas sales reached 14,631 units, accounting for 36% of total exports [2] - Geely has expanded its international presence with new market entries in the UK, Australia, and several European countries [2] Technological Advancements - Geely successfully launched the sixth satellite of its constellation, achieving global communication coverage for its satellite IoT services [2] - Several models, including Geely Galaxy Star 8 and Lynk & Co 900, are equipped with satellite communication technology, enhancing user experience in smart mobility [2] Corporate Strategy - Geely continues to integrate its automotive business, with a merger agreement signed between Geely Auto and Zeekr Smart Technology [3] - The company announced a share buyback plan of up to HKD 2.3 billion, reflecting confidence in its business fundamentals and growth potential [3]

Core Insights - The successful launch of the "Jili Galaxy" painted Jielong-3 rocket on August 9, 2023, marked the deployment of the fourth satellite in the Jili constellation, which includes the "Qianli Haohan" satellite [2] - The Jili constellation, developed by Jili's subsidiary, focuses on building a global low-orbit satellite communication system for various applications, including smart connectivity, marine fisheries, and emergency communications [2][3] - Jili has strategically invested in the satellite industry, becoming the second global automaker after Tesla to develop both vehicles and satellites, initiating the Jili Future Mobility Constellation project [3] Industry Developments - During the Winter Asian Games, Jili's low-orbit satellites provided essential communication support for vehicle management, enhancing safety and operational efficiency [3] - The Jili constellation aims to expand its satellite communication services in emerging markets with weak communication infrastructure, establishing partnerships with telecom operators in over 20 countries [3][4] - The planned increase of in-orbit satellites to 64 within two months will enable global seamless coverage, excluding the polar regions, facilitating advanced autonomous driving technologies [4]