Geely Automobile's Strong Performance in 2024 First Half Revenue, Profit, and Sales Surge

TapTechNews August 21st news, Geely Automobile released its 2024 first-half financial report in the Hong Kong stock market today. The revenue in the first half of the year was 107.31 billion yuan, with a year-on-year increase of 47%; the net profit was 10.6 billion yuan, with a year-on-year increase of 575%. TapTechNews attaches the performance table as follows:

Geely Automobile stated in the financial report that the sales performance in the first half of 2024 exceeded the expectations of the management and set a historical new high, with the specific performance as follows:

The total sales reached 955,730 vehicles, with a significant year-on-year increase of 41% (including Lynk & Co.);

The sales in the Chinese market was 758,302 vehicles, with a year-on-year increase of 35%, and the market share reached 6.96%, ranking second among domestic brands;

The overseas market achieved breakthrough development, and the export sales reached 197,428 vehicles, with a year-on-year increase of 67%.

Based on the performance in the first half of the year, Geely Automobile adjusted the annual sales target from 1.9 million to 2 million on July 1, 2024. Under the strategy of balanced development of fuel vehicles and new energy vehicles, the sales of fuel vehicles, plug-in hybrid vehicles and pure electric vehicles of Geely Automobile in the first half of 2024 were 635,545 vehicles, 130,238 vehicles and 189,947 vehicles, respectively, with year-on-year increases of 20%, 489% and 51%, which were all better than the relevant average growth of the Chinese passenger car market.