Geely Auto 2020 Financial Results Released
·Geely Auto continues to be the top selling Chinese auto brand for fourth
consecutive year with sales over 1.32 million units.
·Lynk & Co sold over 175,000 vehicles, a YoY increase of about 37%
·Geely Auto exported more than 73,000 units, a YoY increase of about 25%
·Geely Automobile Holding Ltd. (HK.0175) 2020 revenue reaches 92.1B RMB
·Net profit reached 5.57B RMB with profit attributable to stockholders at 5.53B
RMB
2021 March 23rd, Hong Kong and Hangzhou. Geely Auto Group’s Hong Kong listed
entity, Geely Automobile Holdings Ltd (HK.0175) (Geely Auto) released its 2020
Financial Results showing a revenue of 92.1 billion RMB, net profit of 5.57 billion RMB,
and profit attributable to stockholders of 5.53 billion RMB. In 2020, Geely Auto diversified
its profit structure, built a robust cash and capital structure, whilst continuing its
commitment to R&D investment with the aim of accelerating its transition into a smart
electric mobility technology enterprise.
Over the course of 2020 Geely Auto has successfully navigated the Covid-19 epidemic
while accelerating its technological transformation. Geely Auto has continued to maintain
strong market competitiveness, delivering a total of 1,320,217 units and maintaining its
position as best selling Chinese auto brand for the fourth consecutive year.
Overseas sales of Geely Auto branded vehicles reached nearly 73,000 units, a year-on-
year increase of about 25%. The overseas expansion of the brand and its products
increased its reach to cover nearly 30 markets with continuously improving brand image
and influence.
For 2021, Geely Auto Group has set a global sales target of 1.53 million units including
Lynk & Co and Geely Auto brand products, a year-on-year increase of 16%.
Geely Auto has begun to transition to new BMA and CMA modular architectures,
increasing cross product synergies and offering greater value for the users. In 2021,
Geely Auto will introduce of a variety of new high-value models.
Geely Auto plans to control its carbon emissions, achieve carbon neutrality, and
contribute to fighting global climate change through the greater introduction of affordable
and premium electrified vehicles to increase mass uptake.
Detailed in a separate release, Geely Auto Group has announced its establishment of a
new intelligent electric vehicle company, Zeeker. With the launch of Zeeker, Mr. An
Conghui will leave his role as Geely Auto Group President and CEO to become
Chairman of Geely Auto Group. Mr. Gan Jiayue will take over for Mr. An Conghui as
CEO of Geely Auto Group.
