Geely Auto reports strong Q3 on fuel, EV demand despite 9-month profit dip

Geely Automobile (0175) said on Monday its net profit slipped 0.78 percent year-on-year to 13.11 billion yuan for the first nine months of this year, even as revenue rose 26.35 percent to 239.48 billion yuan.

In the third quarter alone, net profit jumped 59.3 percent to 3.82 billion yuan, while revenue rose 26.54 percent to 89.19 billion yuan.

The company said it continued to maintain strong growth momentum during the quarter, with fuel vehicle and new energy vehicle sales achieving simultaneous growth, driving a rapid 43 percent increase in total sales volume.