Hangzhou, China, May 15, 2025 — Geely Automobile Holdings Limited ("Geely Auto") (0175.HK) announced its Q1 2025 financial results highlighting strong revenue growth, a surging New Energy Vehicle (NEV) segment, significant breakthroughs in technology and global expansion acceleration.
In the first quarter, Geely Auto achieved a revenue of RMB 72.5 billion, an increase of 25% year on year. Net profit attributable to shareholders reached RMB 5.67 billion, an 264% increase year on year, with the company's total gross profit in the first quarter increased significantly to RMB 11.4 billion, with a gross margin of 15.8%.
Under the strategic guidance of the "Taizhou Declaration", Geely Auto accelerated its New Energy transformation. In the first quarter, Geely Auto sold 704,000 units, a year-on-year increase of 48%, completing 26% of its 2.71 Million units annual sales target. NEV product sales (including Geely, Lynk & Co, and Zeekr) soared to 339,000 units with a domestic NEV penetration rate exceeding 50%.
New Energy Vehicles Drive Record Sales
In the first quarter, the Geely NEV lineup has a single-quarter sales volume of nearly 260,000 units, a year-on-year increase of 214%. Standout performers includes the Geely Xingyuan with a terminal sales volume of 117,000 units sold from January to April. The Geely E5 (domestic version of Geely EX5) and Geely Xingjian 7 EM-i each surpassing 10,000 units sold per month. Geely Auto’s NEV has exceeded 930,000 units by the end of April, expected to become the fastest NEV brand to reach one million units sold.
Under the strategic guidance of the "Taizhou Declaration", Geely accelerated its strategic integration. On May 7, Geely Auto announced plans to acquire all issued shares of Zeekr paving the way for full integration. This strategic move will enhance the collaboration and cooperation across Geely Auto, Lynk & Co and Zeekr in supply chain, manufacturing and sales channels increasing its operational efficiencies.
Breakthroughs in Intelligent Technology
As the "Intelligent Geely 2025" strategy enters its final year, Geely's investments in smart technology are yielding high value results to be ready for mass production and application. The G-pilot assisted driving system with its industry leading computing power above 100TOPS, which was initially introduced in the Geely Xingyao 8 and will be rolled out across all models. Geely’ global AI leadership has been realized with the technological achievements such as the GEA intelligent new energy architecture, EM Super Electric Hybrid, and Xingrui AI Cloud Power with the application to its intelligent vehicles in terms of architecture, power, chassis, and cockpit systems.
Geely has combined its self-developed -produced battery safety system and high-performance battery cell products. Future products will include industry-leading battery cell products for super-fast charging, innovative hybrid tech and high energy density applications.
Global Expansion and ESG Leadership
In an increasingly competitive global automotive market environment, Geely Auto has continuously enhanced its international market competitiveness by continuously optimizing its product layout and expanding to key markets. In the first quarter, the group's cumulative export sales were 89,953 units, with increase export volumes in the Asia-Pacific region by 174% year-on-year and in Latin America region by 104.2% year-on-year. The Geely brand has expanded its product layout as it launched 10 high-value models in key markets such as Saudi Arabia and Australia. The Geely EX5 has made its debut in seven countries with plans for over 20 markets by the end of 2025. With over 900 sales and service outlets in 86 countries, Geely continues to strengthen its brand's influence.
Alex Nan, Vice President of Geely Auto Group and CEO of Geely Auto International Corporation, said: "Geely Auto's overseas performance was resilient with significant market expansion. We will continue to expand our global footprint, enhance our service networks and product mix to provide high value sustainable mobility solutions for the global market in 2025.”
In addition to international expansion, Geely Auto has enhanced its ESG performance. In 2024, the company achieved an 18% reduction in carbon emissions per vehicle's life cycle in 2024 compared to the base year of 2020, becoming the only automaker selected as one of the first batch of "Zero Waste Enterprises" in the country. It also received the AA-level rating in the MSCI ESG assessment, the most authoritative international assessment, and was selected for the Hang Seng Sustainability Enterprise Index for two consecutive years. It also received honors such as excellent ISS ESG assessment in the industry and the first among Chinese automakers, fully confirming Geely Auto's benchmark position in ESG among Chinese automakers.
In Q1 2025, Geely Auto achieved major breakthroughs in new energy and intelligent technologies, driving sustained scale efficiencies and steady revenue growth. Moving forward, guided by the "Taizhou Declaration", Geely will continuously enhance its strategic focus, deepen integration and deliver safer and smarter travel experiences through "Technology Equality", advancing its vision of and move towards the goal of becoming a global leader intelligent electric vehicles.