- Geely accelerated overseas expansion, shifting mix toward premium models and higher ASPs to counter domestic price pressure and capture share from established global OEMs.
- Geely reported RMB 272.564 billion revenue and RMB 14.896 billion core net profit for first nine months, with 3.002 million vehicle sales and 797,000 exports (26.6%).
- Targets legacy European production and export growth against execution risks including FX swings, 67.48% debt-to-asset leverage, integration of Spanish plant, and sustaining margin improvements.
On October 29, Geely Automobile Holdings Limited released its third-quarter financial results, reporting revenue of RMB 98.964 billion ($14.846 billion), up 10% year-on-year.
Net profit attributable to shareholders of the parent company reached RMB 4.837 billion ($725.62 million), representing a 28% increase over the prior-year period.
During the same quarter, core net profit attributable to shareholders of the parent company totaled RMB 5.212 billion ($781.87 million), up 32% year-on-year.
Both quarterly revenue and core net profit set historical highs for the period.
For the first nine months cumulatively, Geely Auto recorded total operating revenue of RMB 272.564 billion ($40.888 billion), a year-on-year increase of 13%.
Meanwhile, its net profit attributable to parent company shareholders rose 7% year-on-year to RMB 13.928 billion ($2.089 billion).
Core profit data disclosed by the company showed that core net profit attributable to parent company shareholders reached RMB 14.896 billion ($2.235 billion) in the first nine months, marking a 41% year-on-year increase.
The growth rate of core net profit notably outpaced that of net profit attributable to the parent company, primarily due to fluctuations in foreign exchange gains and losses.
The company incurred a net foreign exchange loss during the reporting period, compared with a net gain in the same period last year.
In terms of profitability, Geely Auto achieved an overall gross margin of 17.95% in the first nine months, up 1.53 percentage points from the corresponding period in 2025.
The company attributed the margin improvement to an optimized product mix and higher average selling prices.
During the same period, revenue growth exceeded volume growth, indicating that rising revenue per vehicle and a higher proportion of premium models continue to enhance overall financial performance.
Regarding sales volume, Geely Auto achieved cumulative sales of 3.002 million vehicles in the first nine months of 2026, setting a record high for the period.
Of this total, overseas export sales for Geely Automobile reached 797,000 units, up 169% year-on-year and accounting for approximately 26.6 percent of total sales volume.
Export volume reached 106,000 units in September, topping 100,000 units for four consecutive months.
Export growth has not only expanded overall sales volume but has also become a major driver of revenue growth for the company.
Alongside sustained export expansion, Geely completed a key transaction regarding its localized footprint in Europe during the reporting period.
On July 23, Geely Auto announced a agreement to acquire a 34 % stake in Ford’s Spanish plant for €221 million ($246.16 million), securing operational rights to the manufacturing plant.
From a financial structure perspective, as of Sep 30, Geely Auto reported total assets of RMB 310.197 billion ($46.534 billion), with a debt-to-asset ratio of 67.48%.
Net current liabilities stood at approximately RMB 8.745 billion ($1.312 billion), representing a decrease of approximately 42% compared with RMB 15.042 billion ($2.257 billion) as of June 30.
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