Shanghai (Gasgoo)- On May 15, Geely Automobile Holdings Limited (“Geely Automobile”) released its financial results for the first quarter (Q1) of 2025, reporting a revenue of 72.5 billion yuan, up 25% year-on-year.
In Q1, its net profit attributable to shareholders surged 264% over a year earlier to 5.67 billion yuan, reflecting a significant boost in profitability.
Driven by improved profitability in new energy vehicles (NEVs) and growing economies of scale, Geely Automobile's gross profit rose sharply to 11.4 billion yuan in the quarter, with a gross margin of 15.8%.
Under the strategic guidance of the "Tāizhōu Declaration," Geely Automobile is accelerating its full transition to electrification. The company sold around 704,000 vehicles in Q1, marking a 48% year-on-year leap and setting a new quarterly sales record. This represents 26% of its 2.71-million-unit annual sales target.
Sales of Geely Automobile's NEV lineup—including Geely, Lynk & Co, and Zeekr brands—reached roughly 339,000 units in the quarter, with domestic NEV market penetration exceeding 50%, firmly positioning the company in the leading tier of China's NEV market.
In Q1, the Geely Galaxy NEV range was officially upgraded to a standalone brand, with sales nearing 260,000 units in the quarter, a 214% year-on-year surge. In the same period, Lynk & Co sold about 73,000 vehicles, up 19% from a year earlier, with NEVs accounting for 52% of its total sales. Zeekr delivered around 41,000 vehicles, registering 25% year-on-year growth.
On May 7, the company announced plans to acquire all outstanding shares of Zeekr. Upon completion, Zeekr will be fully integrated into Geely Automobile. Going forward, the company aims to sharpen brand positioning and focus on user-centric strategies, while leveraging synergies across supply chains, manufacturing, and sales channels to unlock further scale and system-wide efficiencies.
