Geely’s Q3 Earnings Surge Amid EV Expansion, Though Shares Dip
Geely Automobile Holdings reported a 59% jump in third-quarter net profit to 3.8 billion yuan ($538 million), fueled by a 43% surge in vehicle deliveries. Revenue climbed 27% to 89.2 billion yuan, yet investors reacted coolly—Hong Kong-listed shares fell 1.4% post-announcement.
The automaker faces mounting pressure in China’s cutthroat EV market, where rivals like BYD and Xiaomi are forcing prolonged price wars. Regulatory headwinds, including reduced trade-in subsidies and stricter supplier payment rules, further complicate cash FLOW management.
Discounts remain Geely’s key weapon. Despite government warnings against excessive promotions, the company continues incentives, exemplified by its 2026 Galaxy E5 SUV—offering upgraded specs at unchanged prices. A new 15,000 yuan rebate scheme underscores the relentless competitive grind.
