Geely Automobile 0175

[winston]

not vested

GEELY AUTO Jul Total Sales Vol. Spikes 24% YoY; 7M22's Up 1%

GEELY AUTO (00175.HK) announced that the total sales volume of the Group during the month of July 2022 was about 122,600 units, an increase of approximately 24% from the same period last year.

The total sales in the first seven months of this year were approximately 736,500 units, an increase of 1% yearly.

During the month of July 2022, 205 units of the Group’s LYNK & CO-branded vehicles were delivered to its subscription customers in the European market under its innovative subscription model, and a total of 6,458 units of vehicle were delivered under its innovative subscription model for the first seven months of 2022.

Related News - M Stanley Expects CN to Extend Purchase Tax Wavier for NEV, EV Sales to Expand 72%/ 15% in 2022-23

Source: AAStocks Financial News

[winston]

not vested

China's Geely Automobile first-half profit slumps 35%

Hangzhou-based Geely, China's highest-profile automaker globally due to the group's investments in Volvo Cars and Mercedes-Benz, posted January-June profit of 1.55 billion yuan ($228.3 million), versus 2.38 billion yuan in the same period a year earlier.

Authorities have tried incentives to revive demand, and the central government has halved purchase tax to 5% for cars priced at less than 300,000 yuan ($45,000) and with engines no larger than 2.0 litres.

Geely posted a 29% rise in six-month revenue to end-June of 58.18 billion yuan, thanks to better product pricing and product mix which offset the sales declines.

Geely said its vehicle sales, which fell 9% in the first half, were below management expectations, citing the COVID-19 curbs and shortages of semiconductors.

Sales of its new energy vehicles (NEV), including both pure electric and plug-in hybrids, increased nearly fourfold in the first six months, while one out of five vehicles Geely sold in the period were electric, according to the company.

The company said previously that its total annual vehicle sales including EV brands Zeekr and Geometry would hit 3.65 million units by 2025 and more than 30% of them would be electrified vehicles.

Geely also exported one fifth of its vehicles, as it seeks to expand further into Southeast Asia and Europe amid slumping domestic sales.

Source: Reuters

https://finance.yahoo.com/news/chinas-g ... 40181.html

[winston]

not vested

Geely Automobile (175 HK) - Weak 1H22 not surprising

As one of China’s leading traditional auto-manufacturers, Geely differentiates itself through the successful development and launch of its own lower-priced models.

Despite intense competition, Geely has seen steady domestic retail market share gains over the past decade.

Given the highly competitive, cyclical and capital-intensive characteristics, of the global auto manufacturing industry, we are selective within the sector.

In Chinese original equipment manufacturers (OEMs) space, Geely is one of the longer-term sector picks favoured for its stronger financial health, strategic collaborations and solid pipeline of new products, which includes new energy and electrified vehicles (increased to ~6.3% of 2021’s group sales volume).

The Chinese government’s 14th Five-year plan includes a target to raise NEV sales penetration to 20% by 2025 which should result in stronger growth prospects but also more intense competition in the near term as auto makers ramp up their NEV offering to mitigate potential future decline in internal combustion engine (ICE) vehicle sales. HOLD.

Source: OCBC

[winston]

not vested

Geely Automobile Holdings Ltd (0175 HK) shares dropped 6.3% yesterday.

Regarding the market’s concern about the impact of power shortages in Sichuan Province, Geely’s management said that from August 16th to August 20th, production had been stopped for four days.

It is uncertain whether there will be further shutdowns, but if it is only suspended for four days, the impact on the supply of spare parts in Sichuan Province and Chongqing will be limited, because the general spare parts inventory can last for about a week.

It is worth mentioning that most of Geely's manufacturing bases and parts suppliers are located in East China, which will not be affected by the power shortage in Sichuan Province.

Source: KGI

[winston]

vested

GEELY Aug Total Sales Up About 39% YoY to Almost 123K Units

GEELY AUTO (00175.HK) announced that the total sales volume of the Group during the month of August 2022 was 122,600 units, an increase of approximately 39% from the same period last year.

The total sales volume year-to-date in current year reached 859,100 units, up 5%.

Source: AAStocks Financial News

[winston]

vested

Geely Auto (175 HK)
August Sales Up 39% yoy And Flat mom, In Line With Estimates

Geely’s August sales spiked 39% yoy and remained flat mom at 122,635 units, in line
with estimates.

Looking ahead, management remains cautiously optimistic on the Sep-Dec 22 outlook on strong order flows and easing supply chain bottlenecks.

The Leishen series will emerge as a new growth driver, but margins will probably come under pressure due to the lower profitability of the Leishen series vs ICE-cars.

We keep our 2022-24 EPS estimates unchanged. Maintain HOLD. Target price: HK$15.50.

Source: UOBKH

https://research.uobkayhian.com/content ... 0273156145

[winston]

vested

China’s Geely takes 7.6% stake in Aston Martin

Source: Nikkei

https://www.freemalaysiatoday.com/categ ... on-martin/

[winston]

vested

Geely outperforms peers

Geely Automobile (0175) sold 130,528 cars last month, which was 26 percent more compared to last year and up by 6 percent from August.

Sales of electric vehicles in September jumped by 322 percent to 30,277 units.

Exported 21,472 cars in the month, up by 168 percent from last year.

In the first third quarters of this year, Geely's total sales rose 7 percent to 989,638 units, including 166,292 units of electric vehicles, which was up by 432 percent from 12 months ago.

Source: The Standard

https://www.thestandard.com.hk/section- ... orms-peers

[winston]

vested

Zhejiang Geely Reportedly Wants to Seize Controlling Stake in Renault's Combustion Engine Unit

Renault CEO Luca de Meo, who visited the South Korean factory in cooperation with GEELY AUTO (00175.HK), suggested a full-swing overhaul on the alliance so that Renault can focus on EV development.

Zhejiang Geely Holding has been in talks with Renault, as it hopes to gain a controlling stake when Renault demerges its combustion engine business, another sources said.

De Meo had indicated that Renault needs a new partner because its rotation to EV development and charging facilities, require a certain investment scale.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6

[winston]

vested

GEELY AUTO Proposes Spin-off, Separate Listing for 'Zeekr'

GEELY AUTO (00175.HK) announced that it has submitted a proposal to The Stock Exchange of Hong Kong Limited in relation to the proposed spin-off and separate listing of ZEEKR Intelligent Technology Holding Limited (Zeekr).

Zeekr is a non-wholly-owned subsidiary of the Company, and is principally engaged in the research, development and sales of battery electric vehicles, batteries and other components of new energy vehicles, and related services under the “Zeekr” brand, the announcement added.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6