2025-11-19 01:47Summary of Geely Automobile Conference Call Industry and Company Overview - Company: Geely Automobile - Industry: Automotive, specifically focusing on electric and hybrid vehicles Key Points and Arguments Export Performance and Future Plans - Geely's overseas export volume for the first three quarters of 2025 was 296,000 units, a decrease of 7% year-on-year. However, the export of new energy vehicles (NEVs) saw significant growth, with 77,000 units exported, representing over 200% year-on-year growth. The company expects total NEV exports to reach approximately 110,000 units for the year. For 2026, Geely plans to increase NEV exports to 280,000-320,000 units, contributing around 200,000 units to overall sales growth [2][3][5] HEV Strategy and International Market Goals - Geely is advancing a comprehensive HEV strategy, with plans to launch HEV models starting March 2026, leveraging a model similar to Toyota's approach. The company aims for international sales to reach 1 million units by 2027, with a target of 600,000 to 720,000 units in 2026, representing a growth of 50%-80% [2][6][7] Market Position and Competitive Advantages - Geely has established a strong foundation in fuel vehicles and is rapidly advancing in the NEV sector. The company has a robust international presence, with plans to expand its dealer network from approximately 1,260 to 1,500 by early next year. Geely's overseas products have a profit margin that is 5%-10% higher than domestic products, which is expected to enhance overall profitability [8][12][13] High-End Model Performance - High-end models like the Lynk & Co 900 and Zeekr 9X show significant profitability, with gross margins of approximately 40% for Lynk & Co 900 and Zeekr 9X, and around 25% for M9. If Zeekr 9X achieves monthly deliveries of 7,000-8,000 units, it could generate over 10 billion yuan in total profit [18][19] Strategic Partnerships - Geely's partnership with Renault has led to a 26.4% stake in Renault Brazil, facilitating rapid expansion through existing dealer networks. In South Korea, the joint development of the Kona L1 model has resulted in strong sales, with expectations to reach 50,000 units in 2025 [10][11] Technological Advancements and AI Integration - Geely's intelligent strategy includes the launch of the Qianli Haohan platform, integrating autonomous driving technology with AI capabilities to enhance vehicle safety and performance. The company is also focusing on the application of AI in manufacturing and service sectors [14][15] Future Vehicle Launches - In 2026, Geely plans to introduce 10 new models across its brands, including new vehicles in the Chinese Star, Galaxy, Lynk & Co, and Zeekr series. The Galaxy brand will continue to focus on NEV development to close the gap with industry leaders [20][21] Market Expectations and Growth Projections - Geely is optimistic about maintaining its market share growth, which has increased from 8% last year to 11.1% this year. The company aims to further close the gap with leading competitors and expand its NEV offerings in 2026 [27] Additional Important Insights - Geely's strategic focus on high-end models and international expansion positions it well against competitors, despite challenges such as late entry into the NEV market. The company is committed to leveraging its technological advancements and partnerships to enhance its market presence and profitability [9][22][23]