
Geely Auto (Trans): Net profit near RMB 10bn; management reshuffle aims for 920k exports
H1 attributable net profit was nearly RMB 10 bn, with NPM around 5.6%, far above the industry avg of 1.6%. Q2 GPM reached 18.4%, and management guided Q3 not lower than Q2.
However, sales of Galaxy, Lynk & Co, and China Star fell 5–6%, and the mainstream price bands still lack a breakout model. Meanwhile, Li Shufu stepped down as chairman, succeeded by An Conghui, and the full-year export target was raised from 640k to 920k units.
