Geely sees profit surge 263pc to 5.67b yuan

Geely Automobile‘s (0175) net profit surged 263.6 percent to 5.67 billion yuan (HK$6.14 billion) year-on-year in the first quarter of 2025, driven by record-high sales and strong growth in the new energy business.

Its revenue grew to 72.5 billion yuan, an increase of 24.5 percent year-on-year. Sales also rose 48 percent to 703,800 units, among which sales for its Galaxy brand climbed 214 percent year-on-year.

The company's subsidiary brand Zeekr also turned a profit, earning 513 million yuan in the first quarter, an increase of 195.4 percent year-on-year.

Zeekr's total delivery volume grew by 21.1 percent to approximately 114,000 units. The brand recorded around 22.0 billion yuan in revenue, an increase of 1.1 percent compared to the same period last year.

Last week, Geely Automobile said it plans to buy the 34.3 percent stake of Zeekr it does not already own and privatize the company.

Moreover, Geely had completed the acquisition of Lynk & Co in the first quarter. It was reclassified from a joint venture to a non-wholly-owned subsidiary of the company, according to a filing.

HELEN ZHONG