Core Insights - Geely Automobile Holdings Limited reported a record high revenue of 150.3 billion yuan for the first half of 2025, a year-on-year increase of 27% [2] - The company achieved a net profit attributable to shareholders of 9.29 billion yuan, with core net profit rising by 102% to 6.66 billion yuan after excluding foreign exchange losses and other non-core items [2] - Total cash levels increased to 58.8 billion yuan, indicating a strong financial position [2] Sales Performance - Geely's total sales reached 1.409 million units in the first half of 2025, a 47% year-on-year growth, surpassing the market average [2] - The market share exceeded 10% for the first time, with new energy vehicle (NEV) sales reaching 725,000 units, a 126% increase [3] - The annual sales target was raised from 2.71 million to 3 million units based on better-than-expected market performance [2][5] New Energy Growth - The NEV segment saw explosive growth, with a penetration rate of 51.5%, positioning Geely among the top brands in the NEV market [3] - The Galaxy series, now an independent brand, experienced a 232% increase in sales, totaling 548,000 units in the first half [3] - High-end luxury brands Zeekr and Lynk & Co also performed well, with Zeekr selling 90,740 units and Lynk & Co achieving 154,137 units in the same period [3] Technological Advancements - Geely has established a leading smart and electrification technology system, focusing on AI integration [4] - The company launched the "Smart Geely 2025" strategy, aiming to release the industry's first "smart car full-domain AI" technology system by 2025 [4] - The Starry AI Cloud Power 2.0 and advanced battery technologies enhance product competitiveness, with the new battery system passing 36 extreme safety tests [5] Future Outlook - Geely plans to launch five new NEV products in the second half of 2025, further enhancing its market presence [5] - The "One Geely" strategy aims to deepen synergies within the company, boosting its global competitiveness in the smart NEV sector [5]

Investment Rating - The report provides a positive investment rating for the new energy vehicle industry, highlighting strong growth potential and market dynamics [2]. Core Insights - The new energy vehicle market showed significant growth in June, with total sales reaching 2.14 million units, a year-on-year increase of 20.6%, while new energy vehicle sales reached approximately 1.11 million units, up 33.3% year-on-year [9][12]. - New energy vehicles accounted for 51.9% of total passenger vehicle sales in June, indicating a growing market share [9]. - The cumulative sales of new energy vehicles in 2025 reached 5.27 million units, reflecting a year-on-year increase of 30.9% [12]. Market Sales Performance - In June, pure electric vehicle sales were approximately 676,000 units, up 42.1% year-on-year, while plug-in hybrid sales were about 434,000 units, up 21.6% year-on-year [12]. - The top 10 manufacturers in the new energy market held a market share of approximately 67.3%, with BYD and Geely leading the rankings [15][28]. - The top three cities for new energy vehicle sales in June were Beijing, Guangzhou, and Chengdu, with a combined market share of 25.9% [18]. Market Dynamics - The report highlights significant monthly sales growth in the new energy vehicle sector, with a 15.0% increase in June compared to the previous month [15]. - The report notes that the market dynamics are influenced by various manufacturers' performance, with notable increases from Tesla (China), Zero Run, and Changan [28]. Industry Policies - The Ministry of Industry and Information Technology issued an implementation plan to promote green and low-carbon standardization in the industrial and information sectors, with a focus on the automotive industry [65][66]. - The plan outlines key research directions for green low-carbon standards in the automotive sector, including carbon footprint management and new energy vehicles [66][68].

8月11日下午，领克10 EM-P开启预售之前，领克官方精心筹备了一场直播活动，旨在全方位展示EM-P AI 2.0电混系统的能力。此次直播选取了山路、 高速、城市等多种路况与场景，对领克10 EM-P的能耗、动力以及操控表现进行了全面呈现，在实测中领克10 EM-P以5.1秒完成0-100km/h加速，极速 210km/h，CLTC亏电油耗低至4.2L/100km的成绩，让广大网友直观领略到领克EM-P AI电混系统在实际路况下的卓越实力。 采用P1+P3+P4构型 全系标配四驱 领克10 EM-P作为领克旗下首款中大型插电式混合动力轿车，在动力系统上别具匠心。它采用了1.5T Evo全新电混专用引擎搭配DHT Evo混动电驱的组 合。其中，DHT Evo混动电驱由P1电机、P3电机以及3挡变速箱构成，与后桥的P4电机协同工作，并通过AI全域融合控制中枢的深度协同精准调节扭矩分 配，让高性能驾控更可控，这套动力系统最大功率可达390kW，最大扭矩高达755N·m，0-100km/h加速时间仅需5.1秒。 传统混动需要依赖前期的标定预设逻辑，即车辆根据当前的驾驶模式、油门开合度、环境条件等，选择对应的map曲 ...

8月11日，领克汽车旗下旗舰轿车——领克10 EM-P在多种复杂路况下展开了一场深度动态实测。吉利汽车依托其在AI领域的持续布局，在电混技术领域保 持行业前列。领克EM-P AI电混2.0作为领克旗下的首款中大型插电式混合动力轿车，凭借强劲性能、丰富配置与全场景安全表现，在同级中展现出突出的竞 争力。 推动 AI 赋能电混升级 2025年1月，吉利发布行业首个"智能汽车全域AI"技术体系，成为已实现全域AI智能化布局的车企之一。基于这一强大的技术体系，吉利推出了星睿AI云动 力2.0，星睿AI云动力2.0通过AI深度学习技术，融合全车高精度环境感知数据与海量云端数据，涵盖4大类、1000多个细分场景，为用户每次出行精准匹配 较优策略。 兼顾性能与安全 领克EM-P AI电混2.0采用1.5T Evo全新电混专用引擎与DHT Evo混动电驱系统，后桥配备90kW P4异步电机，系统综合功率390kW，综合扭矩755N·m，0- 100km/h加速约5.1秒，最高车速可达210km/h，CLTC亏电油耗约4.2L/100km，在动力和经济性之间实现平衡。全系标配四驱系统和激光雷达，配合AI动态扭 矩分配方案，可根 ...

Sales Performance - In June, the total passenger car sales reached 2.14 million units, a year-on-year increase of 20.6% and a month-on-month increase of 14.7% [4] - The new energy vehicle (NEV) market sales were approximately 1.11 million units, with a year-on-year increase of 33.3% and a month-on-month increase of 15.0%, leading the overall market growth [4] - NEVs accounted for 51.9% of total passenger car sales in June, an increase of 0.2% from the previous month and up 4.9% from the same period last year [4] New Energy Market Overview - In June, pure electric vehicle sales were about 676,000 units, up 42.1% year-on-year and 16.8% month-on-month; plug-in hybrid sales were approximately 434,000 units, up 21.6% year-on-year and 12.4% month-on-month [9] - Cumulatively, NEV sales reached 5.274 million units by 2025, with a year-on-year increase of 30.9% [9] Top Cities for NEV Sales - The top 10 cities accounted for 25.9% of total sales, with the top three cities being Beijing, Guangzhou, and Chengdu; Tianjin replaced Hangzhou in the top ten [10] - In the top 10 cities, except for Tianjin and Xi'an, the penetration rate of NEVs exceeded 50%, with Shenzhen (64.0%), Wuhan (63.8%), and Xi'an (62.0%) leading [10] Pure Electric Market Analysis - The top three segments in the pure electric market in June were A0 class (18.1%), A-SUV (16.3%), and B-SUV (15.5%); the B-SUV market share increased significantly due to the growth in Model Y deliveries [15] - The share of personal users in the pure electric market was 86.2%, a year-on-year increase of 52.2%, while the share of unit users decreased by 41.1% [16] Industry Dynamics - Key industry events in June included the collaboration between XPeng and Huawei on an AR-HUD system, GAC Toyota's push for self-research, and Geely's launch of AI-powered intelligent systems [19][21][23] - Significant technological advancements were reported, including the introduction of a new AI-powered hybrid system by Geely and a novel safety belt technology by Volvo [27] Policy Developments - The Ministry of Industry and Information Technology issued a plan to advance green and low-carbon standardization in industrial and information sectors, focusing on product carbon footprint, resource utilization, and energy-saving standards [29][31]

Core Insights - Geely Automobile Holdings Limited reported a significant increase in June sales, with passenger vehicle sales reaching 236,036 units, a year-on-year growth of 42%, marking ten consecutive months of sales exceeding 200,000 units. Cumulatively, the group sold 1,409,180 units in the first half of the year, representing a 47% increase [1][4]. Financial Performance - In Q1 2025, the company achieved a revenue of 72.5 billion yuan, reflecting a 25% year-on-year increase. The net profit attributable to shareholders was 5.67 billion yuan, showing a remarkable growth of 264%. The gross profit margin improved significantly, reaching 15.8% with a total gross profit of 11.4 billion yuan [1][4]. Operational Efficiency - The strong sales performance is attributed to enhanced operational efficiency and profitability, allowing the company to invest more in research and development to improve product quality. Cost reductions through technological innovation and process optimization have also contributed to increased sales [4][6]. Strategic Initiatives - The improvement in operational efficiency and profitability is largely credited to the "Taizhou Declaration" strategy and the "Smart Geely 2025" initiative, which have enabled business integration across brands like Geely, Geely Galaxy, Lynk & Co, and Zeekr. These brands are focusing on user needs and clear brand positioning to compete effectively in the market [4][6]. AI and Technology Development - Geely has completed a comprehensive AI integration, enhancing its core competitiveness through advancements in intelligent driving technology and battery systems. The company recently launched the Starry AI Cloud Power 2.0 and the Thor AI Hybrid 2.0, which focus on energy efficiency, performance, and safety [6]. Sales Target Adjustment - Based on strong sales performance in the first half of the year, Geely has raised its annual sales target by approximately 11%, from 2.71 million to 3 million units, achieving a target completion rate of 47%. The Geely Galaxy brand aims to reach a sales target of 1 million units, with June sales reaching 90,222 units, a 202% increase [9]. Future Product Launches - In the second half of the year, Geely plans to launch six new electric vehicle models and will continue to focus on high-value innovative technologies in AI and automotive safety, aiming to create long-term value and promote sustainable development in the automotive industry [9].

Group 1 - Chery launched the new fuel vehicle Aiyreze 8 PRO, emphasizing its capability as a family car that can also perform on the racetrack. The Aiyreze 8 series has achieved global sales of over 400,000 units in 33 months since its launch [7] - Leap Motor announced that its cumulative delivery volume has surpassed 800,000 units, with the 2026 model of the C16 officially launched and deliveries commencing nationwide. In May, Leap Motor delivered 45,067 vehicles, a year-on-year increase of over 148%, setting a record for monthly deliveries [1][5] - Geely introduced the industry's first AI-powered intelligent power domain system, Starry AI Cloud Power 2.0, which enhances the efficiency of its hybrid engine from 46.5% to 47.26%. The hybrid vehicle market in China has seen a tenfold increase in sales from 2020 to 2023 [2][5] - Zotye Auto announced a warning regarding potential delisting risks due to a lack of operational funds, with no vehicle production this year and only 14 units shipped to Algeria. The company faces financial risks and operational crises if it cannot resume production by 2025 [3][5] Group 2 - Buick has introduced a 1:1 compensation policy for its new electric vehicle E5, promising to replace the vehicle if it catches fire due to battery quality issues within one year of delivery. The starting price for the new Buick E5 is 149,900 yuan [4][5] - Safety concerns regarding electric vehicles are significant for consumers, with a reported 32% increase in self-ignition rates for new energy vehicles in the first quarter of 2023, averaging eight incidents per day [6]

Core Insights - Geely has achieved comprehensive leadership in hybrid technology, particularly in computing power, data, and algorithms, establishing a strong technological foundation for AI integration in vehicle manufacturing [2] - The Starry AI Cloud Power 2.0 features four major AI functions that enhance the performance and efficiency of the Thor AI hybrid system, leading to significant improvements in engine maintenance and battery lifespan [3] - The Thor EM-i AI hybrid system, first implemented in the Geely Galaxy A7, boasts exceptional fuel efficiency and performance metrics, setting new standards in the hybrid vehicle market [4] Group 1: Technological Advancements - Geely's Starry AI Cloud Power 2.0 has a computing power of 23.5E FLOPS, ranking first among Chinese automotive companies [2] - The AI system has accumulated over 200 million users and 20 billion kilometers of driving data, enabling the development of a comprehensive digital twin scenario library [2] - The integration of AI has led to a record thermal efficiency of 47.26% for mass-produced engines, an increase from 46.5% the previous year [3] Group 2: Product Performance - The Geely Galaxy A7 achieves a fuel consumption of only 2.67L per 100km under CLTC conditions, with real-world tests showing even lower consumption of 2.49L [4] - The Thor EM-P AI hybrid system in the Geely Galaxy M9 accelerates from 0 to 100 km/h in just 4.5 seconds, with a fuel consumption of around 4L per 100km [4] - The fifth-generation methanol-hydrogen engine technology boasts a thermal efficiency of 48.15%, the highest globally, and supports flexible fuel options [6] Group 3: Market Positioning - The Thor AI hybrid technology has been adopted in over ten models across various brands, including Volvo and Renault, marking its recognition in the global market [7] - Geely plans to launch two new models equipped with the fifth-generation methanol-hydrogen technology in the fourth quarter of this year [6]

Core Viewpoint - Geely has officially launched the industry's first AI scenario engine-based power domain intelligent system, named Xingrui AI Cloud Power 2.0, which aims to enhance energy efficiency, performance, and safety in its hybrid vehicles, marking the entry into the era of Raytheon AI Hybrid 2.0 [1][3] Group 1: AI Technology Application - The rapid development of AI technology has made its application in intelligent driving and cockpit domains a unique competitive advantage for Chinese automakers [1] - AI technology in these domains is showing a trend of homogenization, prompting automakers to expand AI control to power and chassis areas, representing a new direction for AI application in vehicles [3] - Geely is the first automaker to complete a comprehensive AI intelligent layout across all domains [3] Group 2: Technical Capabilities - The Xingrui Intelligent Computing Center 2.0 boasts a comprehensive computing power of 23.5 E FLOPS, providing robust support for large-scale AI applications [3] - The Xingrui AI Cloud Power has accumulated over 2 million users and more than 20 billion kilometers of driving data, referred to as the "double 200" global data [3] - The system integrates advanced engineering technology with vast data to train leading performance models, significantly enhancing the efficiency of technological innovation [3] Group 3: AI Features and Benefits - Xingrui AI Cloud Power 2.0 includes four major AI functionalities: intelligent energy management, intelligent health management, intelligent charging management, and intelligent motion control [5] - The intelligent control allows for stronger power output, reduced energy consumption, and can extend engine maintenance intervals by over 50%, while increasing battery life by 15% [5] Group 4: Core Technology and User Experience - The core of Xingrui AI Cloud Power 2.0 is its AI scenario engine, which combines high-precision environmental perception data with massive cloud data, utilizing deep learning to create a nationwide, seasonal, and personalized "digital twin scenario library" with over 1,000 detailed scenarios [7] - AI empowerment enables the hybrid system to transition from passively receiving user commands to actively "thinking," allowing for precise matching of optimal power strategies based on different scenarios [7] Group 5: Product Performance - The Raytheon EM-i AI hybrid has achieved a 5% improvement in engine efficiency, with the thermal efficiency of the Raytheon AI hybrid 2.0 production engine increasing from 46.5% last year to 47.26% [9] - The Raytheon EM-P AI hybrid features a five-source redundancy design and, combined with the intelligent all-terrain recognition of Xingrui AI Cloud Power 2.0, can dynamically allocate torque to all four wheels, effectively preventing wheel slip and quickly suppressing yaw, even achieving stability control in all scenarios of tire blowouts [9]

Group 1 - The core viewpoint of the article highlights the significant advancements in China's automotive industry, particularly in the fields of electrification, intelligence, connectivity, and sharing, collectively referred to as the "new four modernizations" [2][5] - Geely has launched the industry's first AI scenario engine-based intelligent power domain, named Starry AI Cloud Power 2.0, which enhances the performance, safety, and energy efficiency of its hybrid vehicles [2][4] - Geely's comprehensive AI capabilities in computing power, data, and algorithms have positioned it as a leader among Chinese automakers, with a computing power of 23.5E FLOPS and over 200 million users contributing to a vast data pool [3] Group 2 - The Starry AI Cloud Power 2.0 enables the Geely Thunder Super Hybrid to evolve into the Thunder AI Hybrid 2.0, which includes various technical routes to meet diverse user needs [4] - The Geely Galaxy M9, equipped with the Thunder EM-P AI hybrid, achieves a 0-100 km/h acceleration time of just 4.5 seconds and a fuel consumption of only 4 liters per 100 km, with a total range exceeding 1500 km [4] - The global innovation index report indicates that China has improved its innovation ranking, reflecting the strong momentum and broad prospects of innovation in the automotive sector, with Geely leading in several hybrid technology fields [5]