Geely Automobile 2025 Annual Results: Record Sales, Profit Growth, and Ambitious 2026 Outlook

Key Highlights from Geely’s 2025 Annual Report

Geely Automobile Holdings Limited (HKD Counter: 175, RMB Counter: 80175) has released its audited financial results for the year ended 31 December 2025, delivering a record-breaking performance and unveiling ambitious targets for 2026. The Group continues its strong growth trajectory, driven by a surge in new energy vehicle (NEV) sales, robust export momentum, and sustained improvements in profitability and operational efficiency.

1. Record-Breaking Sales and Market Share

• Total Sales Volume reached 3.025 million units, a remarkable 39% year-on-year (YoY) increase, marking the fourth consecutive year of record sales volume.
• Geely’s market share in China surpassed 10% for the first time, solidifying its position as a leading player in the domestic and export automotive markets.
• NEV sales volume surged by 90% YoY to 1.688 million units, highlighting the Group’s successful pivot towards electrification and leadership in the NEV segment.
• The export volume of NEVs grew by a staggering 240% YoY, supporting Geely’s global expansion efforts.

2. Robust Financial Performance

• Total revenue climbed 25% YoY to RMB 345.2 billion.
• Core profit attributable to owners of the parent (excluding non-recurring gains/losses) soared 36% YoY to RMB 14.41 billion.
• EBIT grew 60.5% YoY to RMB 15.87 billion, demonstrating robust operating leverage.
• Gross profit margin remained stable at 16.61%, reflecting improved product mix and NEV profitability.
• Net cash level increased 27.9% to RMB 49.9 billion, with total cash reserves hitting a new high, enhancing Geely’s financial flexibility.

3. Operational Efficiency and Cost Control

• Distribution & selling expenses ratio improved to 5.9% (from 6.0%), and administrative expenses ratio dropped notably to 1.9% (from 2.3%).
• R&D expenditure increased by 8.3% to RMB 21.87 billion, but the R&D ratio to revenue decreased to 6.3%, indicating higher efficiency and disciplined investment.

4. Segment and Brand Performances

• ZEEKR: Sales volume reached 224,000 units (1% YoY growth). Remarkably, the ZEEKR 9X became the top-selling RMB 500K+ large SUV in China for Nov-Dec, and the ZEEKR 009 led the RMB 400K+ luxury MPV segment for two consecutive years. The brand is positioned for further elevation with new luxury and high-performance models.
• Lynk & Co: Achieved a new high with 350,000 units sold (+36% YoY), and NEV penetration rate rose to 65%. Notably, the Lynk & Co 900 ranked among the top 3 full-size PHEV SUVs, and the Lynk & Co 10 EM-P was the top-selling premium PHEV sedan in November.
• Geely Galaxy: Became the fastest NEV brand to exceed 1 million annual sales (1.236 million units, +150% YoY), ranking second among all NEV brands in China. Several models achieved top rankings in their respective segments.
• ICEV Leadership: Geely retained its position as the No.1 domestic ICE brand in China for the ninth consecutive year, with 1.214 million units sold (+3.4% YoY) against the market trend.

5. Strong Dividend Payouts

• Dividend per share increased to HKD 0.50 (from HKD 0.33 in 2024), and the total dividend payout reached HKD 5.39 billion, with a payout ratio exceeding 50%.
• This marks another year of robust returns to shareholders, reflecting management’s confidence in future growth and commitment to delivering value.

6. ESG Leadership and Sustainability Achievements

• Geely is recognized as the only Chinese automaker selected for S&P Global’s Sustainability Yearbook for three consecutive years and achieved the highest ESG ratings among Chinese and Asian automakers.
• The Group exceeded its 2025 carbon reduction target, reinforcing its leadership in climate action and sustainable business practices.

7. Ambitious 2026 Outlook

• Total sales volume target for 2026: 3.45 million units (+14% YoY), with the aim to maintain its top position in passenger car sales for consecutive months at the start of 2026.
• ZEEKR targets 300,000 units (+34% YoY), with new high-performance super hybrid flagships and expanded luxury portfolio.
• Lynk & Co targets 400,000 units (+14% YoY), with a refreshed product pipeline.
• Geely Galaxy plans to reach 1.55 million units (+25% YoY), expanding coverage to all mainstream NEV segments.
• ICE Vehicle Market: Geely China Star aims for 1.2 million units, introducing new i-HEV intelligent dual-engine models.
• Exports: Targeting 640,000 units (+52% YoY), with a focus on developing major regional markets in Europe, ASEAN, LATAM, Africa, and the Middle East.
• AI and Autonomous Driving: Plans to achieve L3 mass production, pilot L4 deployments, and debut advanced digital ecosystem features, positioning Geely as a leader in intelligent mobility.

Potential Price Sensitive Information for Shareholders

• Robust profit growth, record cash reserves, and increased dividend payouts are highly positive signals for investors and may support share price appreciation.
• The substantial growth in NEV volume and exports underscores Geely’s strong competitive position in both domestic and international markets.
• Ambitious 2026 sales and export targets, if met, could drive further re-rating of the stock.
• Continued cost discipline and operational efficiency improvements may enhance profitability and cash flows going forward.
• Industry-leading ESG credentials and carbon reduction achievements may attract long-term, sustainability-focused investors.
• Leadership in AI and autonomous driving could unlock new growth engines and support a premium valuation.

Conclusion

Geely Automobile Holdings Limited delivered another year of outstanding growth in 2025 and has set aggressive targets for 2026, underpinned by strong NEV momentum, global expansion, and a focus on intelligent mobility. Investors should closely monitor the achievement of these targets, execution of technology strategies, and ongoing shareholder returns, as these factors are likely to influence the Group’s share price performance in the coming year.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research and consult with professional advisors before making investment decisions. The accuracy of the information is based on Geely Automobile Holdings Limited’s published 2025 Annual Results and may be subject to change without notice.

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