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The earnings call demonstrated strong growth in sales volume, revenue, and profit, particularly in the NEV sector, and highlighted significant technological advancements and strategic integrations. However, the decline in export volume and slight reduction in gross margin, alongside challenges in brand recognition, present areas for improvement. Despite these challenges, the overall performance and future outlook remain positive.
In the first half of 2025, Geely Automotive demonstrated significant growth across various metrics. The company delivered approximately 1.409 million units, marking a 47% year-over-year (YoY) increase, significantly surpassing the industry average of 13%. Geely's market share rose to 10.4%, a 2.4 percentage point increase YoY. Revenue reached about CNY150.3 billion, up by 27%, with a core net profit attributable to the parent company of CNY6.66 billion, a 102% YoY increase. The NEV sector saw impressive growth, with sales reaching 725,000 units, a 126% YoY increase, and NEV exports rising by 146%. The company's gross profit totaled CNY24.7 billion, up by 24%, although the gross margin slightly declined to 16.4% due to uneven growth rates across different product segments. The selling expense ratio decreased to 5.6%, and the administrative expense ratio dropped to 1.9%. R&D investment was CNY8.3 billion, an 8.6% decrease, reflecting increased efficiency in resource utilization. The company also maintained a strong cash flow of CNY58.8 billion, with net cash from operating activities contributing CNY15 billion. Looking ahead, Geely plans to launch several new NEV models and expand its international presence, aiming to achieve a 3 million sales target for the year.
Geely Automotive delivered approximately 1.409 million units in the first half of 2025, a 47% increase year-over-year (YoY), far outpacing the industry average of 13%. Market share exceeded 10% for the first time, reaching 10.4%, an increase of 2.4 percentage points YoY.
Sales revenue amounted to CNY150.3 billion, up by 27% YoY. Core net profit attributable to the parent company reached CNY6.66 billion, up by 102% YoY.
NEV sales reached 725,000 units, up 126% YoY. NEV exports were 40,000 units, up by 146% YoY.
Galaxy brand achieved explosive growth, selling 548,000 units, up by 232% YoY.
Introduction of new AI technologies and the launch of new hybrid systems, including the Thor EM-i AI hybrid system with a thermal efficiency of 47.26%.
Completion of strategic integration of Zeekr and Lynk & Co brands, expansion into new markets such as Brazil, UK, Italy, and Switzerland.
Okay. Thank you very much for your introduction. Mr. moderator, dear investors and friends from the media, good afternoon. My name is Dai Yong. It is my pleasure to present the Geely Automotive results for H1 of 2025. During H1 of this year, Geely Automotive continued its strong momentum growth, recording all-round increases in sales volume, market share, revenue and core profit. Sales volume-wise, we delivered about 1.409 million units in the first 6 months, up by 47% YoY, far outpacing the industrial average of 13%.
In terms of market share, for the first time ever, we exceeded 10%, reaching 10.4%, an increase of about 2.4 percentage points YoY. In terms of revenue, our sales revenue amounted to about CNY150.3 billion, up by 27%, maintaining steady and sustained growth. The core net profit attributable to the parent company reached about CNY6.66 billion, up by 102% YoY, achieving a double-digit growth rate of our profit. Now let me come to the brief introduction of the details. In terms of the sales performance, actually, I've already told you that we delivered about 1.409 million units in H1, a new historical high. Both IC and NEV vehicles achieved parallel growth and continuously consolidating our market base. In terms of IC market, 684,000 units in H1 were sold, an 8% increase YoY. In terms of NEV, about 725,000 units were sold, another record high, representing YoY of about 126%, far exceeding the industrial average.
The Galaxy brand has achieved its new explosive growth, recording about 548,000 units, up by 232%. NEV penetration rate increased about 51.5% for H1 of ...