Core Insights - Harmony Auto (03836) reported a revenue of RMB 9.637 billion for the six months ending June 30, 2025, representing a year-on-year increase of 29.07% [1] - The company recorded a loss of RMB 10.592 million, which is an 85.82% reduction compared to the previous year [1] - Basic loss per share was RMB 0.008 [1] Company Performance - Despite a significant downturn in the Chinese automotive dealership industry, the company achieved a total sales volume of 30,666 vehicles in the first half of 2025, marking a substantial year-on-year growth of 60.6% [1] - The sales growth rate notably exceeded the overall market growth rate, indicating the successful implementation of the company's strategic initiatives [1] Market Dynamics - The Hong Kong and overseas markets emerged as the primary growth drivers, with sales reaching 15,725 vehicles, accounting for 51.3% of total sales [1] - Domestic market sales remained stable, totaling 14,941 vehicles, which represents 48.7% of total sales [1] Financial Adjustments - Excluding non-recurring losses related to store closures amounting to RMB 32.5 million, the adjusted net profit for the company would be RMB 20.7 million, a significant turnaround from a loss of RMB 76.3 million in the same period of 2024, reflecting an increase of approximately RMB 97 million [1]

Core Insights - Geely Auto reported Zeekr Group's Q1 performance, with total revenue of 22.019 billion yuan (3.034 billion USD), a year-on-year increase of 1.1% but a quarter-on-quarter decrease of 37.8% [2][3] - Gross profit reached 4.213 billion yuan (580 million USD), up 18.8% year-on-year but down 33.8% from the previous quarter, resulting in a gross margin of 19.1% [2][3] - The operating loss for Q1 was 1.259 billion yuan (174 million USD), a reduction of 25.7% year-on-year but an increase of 16.3% from the previous quarter [2][3] Revenue and Profitability - Automotive sales revenue was 19.096 billion yuan (2.631 billion USD), reflecting a year-on-year increase of 16.1% but a quarter-on-quarter decrease of 38.4% [4] - The automotive profit margin stood at 16.5%, compared to 13.1% in Q1 2024 and 14.3% in Q4 2024, indicating a significant improvement [4] - Zeekr brand delivered 41,403 vehicles in Q1, a year-on-year increase of 25.2%, while Lynk & Co delivered 72,608 vehicles, up 18.9% year-on-year, with 52.4% of deliveries coming from new energy vehicles [4] Loss Metrics - The net loss for Q1 was 763 million yuan (105 million USD), a significant reduction of 60.2% year-on-year but an increase of 21.3% from the previous quarter [3][4] - Adjusted net loss (non-GAAP) for Q1 was 640 million yuan (88 million USD), down 66.5% year-on-year but up 18.5% from Q4 2024 [3][4]