来源：观点地产网 观点网讯：2月1日，吉利汽车控股有限公司公布2026年1月未经审核汽车销量数据。据披露，当月公司 总销量达27.02万部，同比增长1%，其中出口及极氪品牌销量实现翻倍增长。 分品牌来看，吉利品牌销量21.74万部，同比下滑3%，其中银河系列8.30万部，同比下滑11%；领克销 量2.89万部，同比下滑4%；极氪销量2.39万部，同比增长100%。 车型方面，插电式混动汽车销量5.62万部，同比增长37%，纯电动汽车销量6.80万部，同比下滑15%。 此外，宝腾1月销量1.61万部，同比增长36%。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 ...

Core Viewpoint - Geely Automobile announced a share repurchase plan of HKD 2.3 billion, aiming to enhance shareholder value and demonstrate confidence in its business outlook [1][3]. Group 1: Share Repurchase Plan - The board of Geely believes that the share repurchase plan aligns with the best interests of the company and its shareholders, especially in the current uncertain market environment [3]. - The plan will be executed through an automated mechanism in the open market and is subject to certain conditions, including compliance with the Hong Kong Stock Exchange regulations [3]. - The company plans to repurchase up to 1.008 billion shares, representing 10% of the total shares issued as of the date of the 2025 annual general meeting [3]. Group 2: Sales Performance - In September, Geely's monthly sales reached 273,125 units, marking a year-on-year increase of 35% and a month-on-month increase of 9%, with overseas exports accounting for 40,665 units [3]. - The sales of new energy vehicles (NEVs) reached 165,201 units in September, reflecting a year-on-year growth of 81% and a month-on-month increase of 12%, achieving a historical high [3]. - The total sales for 2025, including all brands, are projected to reach 2,170,189 units, representing a year-on-year increase of 46% [4]. Group 3: Market Outlook - Analysts from Guohai Securities view the company's fuel vehicle base as resilient, with expectations for growth driven by electrification, globalization, and premiumization [4]. - According to Kaiyuan Securities, the performance of new vehicles in the second half of 2025 is expected to exceed expectations, with the company's platform-based manufacturing cost advantages translating into the ability to continuously create popular models [4].

Group 1 - The company announced a share buyback plan of HKD 2.3 billion, which will be executed through an automated mechanism in the open market [2] - The board believes that the buyback plan aligns with the overall best interests of the company and its shareholders, showcasing confidence in the business outlook amid market uncertainties [5] - The plan is subject to certain conditions, including obtaining a waiver from the Hong Kong Stock Exchange regarding compliance with specific listing rules [5] Group 2 - In September, the company achieved a monthly sales volume of 273,125 units, representing a year-on-year increase of 35% and a month-on-month increase of 9%, with overseas exports accounting for 40,665 units [6] - The sales of new energy vehicles reached 165,201 units in September, marking an 81% year-on-year increase and a 12% month-on-month increase, setting a historical record [6] - The company’s total sales for 2025, including all brands, reached 2,170,189 units, reflecting a 46% year-on-year growth [6]

Core Insights - Geely Automobile Holdings Limited reported a total sales volume of 273,125 units in September 2025, representing a year-on-year increase of 35% [2] - Cumulative sales from January to September 2025 reached 2,170,189 units, marking a 46% year-on-year growth [2] Sales Performance - Geely brand sold 221,966 units in September, up 43% from 154,813 units in the same month last year [3] - The Galaxy series achieved remarkable sales of 120,868 units in September, a 131% increase year-on-year, with cumulative sales of 874,985 units, up 206% [3] - Zeekr brand's sales were 18,257 units in September, a decline of 14%, but cumulative sales for the year reached 143,600 units, a 1% increase [4] - Lynk & Co brand sold 32,902 units in September, up 28% year-on-year, with cumulative sales of 241,472 units, a 23% increase [4] New Energy Vehicles - In September, sales of battery electric vehicles (BEVs) reached 99,516 units, a 55% increase year-on-year [4] - Plug-in hybrid electric vehicles (PHEVs) sales were 65,685 units, showing a significant growth of 146% [4] - Cumulative sales of new energy vehicles from January to September totaled 1,167,823 units, reflecting a 104% year-on-year increase [4] Export Performance - Export sales in September were 40,665 units, a slight increase of 1% year-on-year [4] - Cumulative export figures for the year reached 296,128 units, indicating a decline of 7% compared to the same period last year [4]

Core Viewpoint - Geely Holding Group has signed a merger agreement with Zeekr Intelligent Technology, marking a significant step in its strategy to unify under "One Geely" and enhance its competitive position in the automotive market [1][3]. Summary by Sections Merger Agreement - Geely Auto will acquire all outstanding shares of Zeekr, allowing Zeekr shareholders to choose between cash or Geely shares as compensation [1]. - The privatization of Zeekr is expected to cost Geely Auto approximately $2.399 billion, equivalent to about 17.199 billion RMB [1]. Financial Performance of Zeekr - As of December 31, 2024, Zeekr reported total assets of 32.671 billion RMB, total liabilities of 42.824 billion RMB, and a net asset deficit of 10.153 billion RMB [3]. - Zeekr's total revenues for 2023 and 2024 were 51.673 billion RMB and 75.913 billion RMB, respectively, with net losses of 8.264 billion RMB and 5.791 billion RMB [3]. Strategic Integration - The merger aims to leverage Zeekr's strengths in the luxury electric vehicle sector alongside Geely's established presence in the mainstream market, enhancing collaboration across technology, products, supply chains, and marketing [3]. - Post-merger, Geely Auto will cover a wide range of powertrain options, including fuel, pure electric, plug-in hybrid, and hydrogen electric vehicles, thereby strengthening its market position across various segments [3]. Sales Performance - Geely Auto reported a total vehicle sales volume of approximately 236,000 units in June 2025, a year-on-year increase of about 42%, with a cumulative sales volume of 1.409 million units in the first half of the year, up 47% [4]. - The sales target for the year has been raised from 2.71 million units to 3 million units due to strong sales performance in the first half [5].