Geely Auto net profit drops 27% despite revenue and core profit growth
Updated
Updated · MarketWatch · Apr 29
Geely Auto net profit drops 27% despite revenue and core profit growth
13 articles · Updated · MarketWatch · Apr 29
Geely Auto reported Q1 net profit of 4.17 billion yuan, while revenue rose 15% to 83.78 billion yuan and core profit jumped 31%.
Currency fluctuations drove the profit decline, but record sales of 709,358 vehicles and robust new-energy vehicle growth helped shares rise 5% in Hong Kong trading.
Geely's performance contrasts with BYD's sharper profit fall, highlighting Geely's resilience amid weak Chinese auto demand and rising competition, with overseas expansion and strong Zeekr sales supporting future growth.
With profits squeezed, will the quality of Chinese cars suffer in the price war?
Can Geely's record export boom save it from China's brutal domestic price war?
Is Geely's hybrid and EV dual-track strategy its secret weapon against competitors?
Are Chinese EVs an 'existential threat' to Western automakers as Ford's CEO claims?
As Ford's joint venture talks stall, how will Geely navigate Trump's America?