HK Stock Market Move | Geely Auto (00175) rose nearly 3% in early trading, exceeding its full-year sales target for the 24th year. The growth momentum is expected to continue.

Geely Auto (00175) rose nearly 3% in early trading, and as of the time of publication, it was up 2.52% to 14.66 Hong Kong dollars, with a turnover of 4.12 billion Hong Kong dollars. Haitong released a research report stating that Geely Auto's total sales volume for the full year 2024 was 2.177 million units, exceeding the annual sales target, with a year-on-year growth of over 32%. The sales of new energy vehicles reached 888,000 units, a historical high with a year-on-year growth of approximately 92%. Among them, the Geely brand sold 1.669 million units, an increase of over 27% year-on-year, the Lynk & Co brand sold 285,000 units, an increase of about 30% year-on-year, and the Geometry brand sold 222,000 units, an increase of 87% year-on-year. The bank continued to point out that Geely Auto has maintained a high sales volume in recent years. With a clear brand structure and gradually forming technological platform, the results of intelligence are beginning to be realized, and the strong growth momentum of the company's sales is expected to continue. In addition, Geely Auto's brand structure is relatively rational and clear. With the gradual implementation of the "Smart Geely 2025" strategy, overall revenue and net profit attributable to the parent company are expected to continue to grow.