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Global Research ab 15 May 2025 Geely is trading at 16x 2025E PE on our estimates. Our SOTP-based PT of HK$15 is based on 8x 25E PE for the traditional ICE business, 0.8x 25E P/S for the Zeekr (40% holding discount) and 0.5x 25E P/S for the Galaxy business, implying 13x overall 25E PE. First Read Geely Automobile 25Q1: Results in line with pre-announcement Q: How did the results compare vs expectations? In line. Geely reported 25Q1 net profit of Rmb5,672mn, up 264% YoY and 58% QoQ. Excluding a one-off foreig ...