Geely Automobile (175) Q1 2025 earnings summary

Executive summary

• Achieved record-high sales and strong growth in new energy business in Q1 2025, with Galaxy brand sales up 214% year-over-year, driving significant scale effects and profitability.

• Profit attributable to owners surged 264% year-over-year to RMB5.67 billion, reflecting improved operational efficiency and new energy segment performance.

Financial highlights

• Revenue rose 25% year-over-year to RMB72.5 billion for Q1 2025; sales volume increased 48% to 703,800 units.

• Gross profit reached RMB11.44 billion, up from RMB9.10 billion year-over-year; net profit for the period was RMB5.87 billion.

• Total assets stood at RMB264.2 billion as of March 31, 2025, down 2% from December 31, 2024; equity attributable to owners increased 1% to RMB87.8 billion.

Segment performance

• ZEEKR subsidiary delivered 114,000 units in Q1 2025, up 21.1% year-over-year; revenue reached RMB21.96 billion, gross profit RMB4.13 billion, and net profit RMB513 million (vs. net loss RMB538 million year-over-year).

• Galaxy brand sales grew 214% year-over-year, contributing to overall profitability improvement.