GEELY AUTO (00175): Geely's first quarter car sales revenue was 19.096 billion yuan, an increase of 16.1% year-on-year.

GEELY AUTO-R (00175) released the first quarter performance of GEELY 2025, with a total delivery volume of 114,000 vehicles, an increase of 21.1% year-on-year. The GEELY brand delivered 41,400 vehicles, an increase of 25.2% year-on-year. At the same time, the LYNK & CO brand delivered 72,600 vehicles, an increase of 18.9% year-on-year, with 52.4% of the delivery volume coming from new energy models. The automotive sales revenue for the first quarter of 2025 was RMB 19.096 billion (USD 2.631 billion), an increase of 16.1% from the first quarter of 2024, and a decrease of 38.4% from the fourth quarter of 2024. The automotive profit margin for the first quarter of 2025 was 16.5%, while it was 13.1% in the first quarter of 2024 and 14.3% in the fourth quarter of 2024. The total revenue for the first quarter of 2025 was RMB 22.019 billion (USD 3.034 billion), an increase of 1.1% from the first quarter of 2024, and a decrease of 37.8% from the fourth quarter of 2024. The gross profit for the first quarter of 2025 was RMB 4.213 billion (USD 580 million), an increase of 18.8% from the first quarter of 2024, and a decrease of 33.8% from the fourth quarter of 2024. "We achieved an important milestone in the first quarter, with GEELY and LYNK & CO completing comprehensive integration. Our global user base has expanded to over 1.9 million," said Mr. An Conghui, CEO of GEELY Group. "We have preliminarily integrated the two major brands, optimized R&D and shared platforms, and improved profitability. As we accelerate into the next growth phase, we will continue to redefine high-end travel with technology-enabled experiences and luxury services, solidifying our position as a leading global high-end new energy automotive group." Mr. Yuan Jing, CFO of GEELY Group, added, "In the first quarter of 2025, we strengthened platform synergies and standardized supply chain management, achieving a historic high profit level, with an overall automotive profit margin of 16.5%, and the GEELY brand's profit margin reaching an unprecedented 21.2%. Looking ahead, we will continue to focus on deep resource integration, unlock greater synergies, create higher returns for shareholders, and build sustainable value."