Core Viewpoint - The company reported strong sales growth in August, with total wholesale sales reaching 250,000 units, a year-on-year increase of 38.0% and a month-on-month increase of 5.2% [2][3]. Sales Performance - In August, the total wholesale sales were 250,000 units, with a year-on-year growth of 38.0% and a month-on-month growth of 5.2%. Cumulative wholesale sales from January to August reached 1.897 million units, up 47.3% year-on-year [2][3]. - The sales of new energy vehicles in August were 147,347 units, representing a year-on-year increase of 95.2% and a month-on-month increase of 13.2%, with a penetration rate of 58.9%. Cumulative sales of new energy vehicles from January to August reached 1.003 million units, up 120.5% year-on-year [2][3]. Brand Performance - In August, the sales figures for different brands were as follows: Geely brand sold 205,000 units (including 111,000 units from Galaxy), Zeekr sold 17,626 units, and Lynk & Co sold 27,217 units [2][3][4]. - The Galaxy A7 was launched on August 8 with a limited-time price range of 81,800 to 117,800 RMB, achieving over 10,000 pre-orders within 27 minutes. The Galaxy M9 is expected to launch in mid-September with a pre-sale of over 40,000 units [3]. New Product Launches - Zeekr and Lynk & Co are focusing on high-end market segments with new product launches. The Zeekr 9X, priced between 479,900 to 569,900 RMB, has received 42,667 orders within the first hour of pre-sale. Lynk & Co 10 is expected to launch in September with a pre-sale price of 192,000 to 222,000 RMB [4][5]. Strategic Moves - The company is considering privatizing Zeekr to consolidate resources and enhance operational efficiency, aligning with its strategic focus on high-end luxury electric vehicles [5]. - The expected revenue for the company from 2025 to 2027 is projected to be 404.78 billion RMB, 489.69 billion RMB, and 572.83 billion RMB, respectively, with net profits of 16.21 billion RMB, 22.09 billion RMB, and 25.97 billion RMB [6][7]. Financial Projections - The company forecasts significant revenue growth with a projected increase in earnings per share (EPS) from 1.61 RMB in 2025 to 2.58 RMB in 2027, corresponding to price-to-earnings (P/E) ratios of 11, 8, and 7 [6][7].

Summary of Geely Automobile Conference Call Company Overview - **Company**: Geely Automobile - **Period**: First half of 2025 Key Points Sales and Financial Performance - Geely's sales reached **1.41 million vehicles** in the first half of 2025, with **operating profit** of approximately **3.1 billion RMB** in Q2 and a total of **6.6 billion RMB** for the first half, meeting market expectations [2][13] - The company raised its full-year sales forecast to **3 million vehicles**, expecting an operating profit of **14 billion RMB**, driven by new model launches and high-end product releases in the second half [2][14] Market Position and Growth - Despite a shrinking market for fuel vehicles, Geely achieved growth, becoming the top-selling brand in the domestic fuel vehicle segment, with exports expected to reach **450,000 vehicles**, 20% of which are to the Russian market [2][4] - The Galaxy series products, particularly the Galaxy M9, exceeded expectations with over **40,000 orders** in 24 hours, indicating strong market acceptance of high-end products [3][9] Product Strategy and New Releases - Geely launched several high-end SUVs, including the Galaxy M9, Lynk & Co 900, and Zeekr 9X, targeting different price segments [2][9] - The company plans to integrate Zeekr and Lynk & Co to streamline costs, with Zeekr achieving profitability in Q1 2025 [2][10] Sales Performance of Key Models - The Wish model saw sales rise to **40,000 units** in June 2025, while the Galaxy E5 maintained monthly sales of **13,000 to 15,000 units** [8] - The Starry 8, a B-class plug-in hybrid positioned at A-class pricing, achieved monthly sales exceeding **10,000 units** [8] Resource Integration and Cost Management - Geely's integration of Zeekr and Lynk & Co has led to cost reductions through streamlined processes and procurement [10] - The company plans to fully incorporate Zeekr into the listed entity by September 2025 to further reduce costs [10] Electric Vehicle Progress - In Q1 2025, Geely sold **340,000** new energy vehicles, with **240,000** being pure electric and **100,000** plug-in hybrids; Q2 sales increased to **386,000** [12] - The Galaxy series accounted for **40%** of total sales in Q2, with five new models expected to launch this year [12] Future Outlook - Geely anticipates launching over five new Galaxy series models in 2026, aiming for annual sales exceeding **1 million vehicles** [15] - The company is positioned for growth in electric, high-end, and global markets, with a favorable long-term outlook [15] Valuation - Based on the forecasted operating profit of **14 billion RMB**, Geely's current valuation is approximately **12 times** this figure, with positive market sentiment regarding its future performance [16]