Geely Automobile Holdings Ltd. (HK:0175) reported a massive 264% year-on-year increase in net profit for Q1 2025, totaling 5.67 billion yuan (approximately $790 million). The remarkable earnings boost came on the back of booming sales in its new energy vehicle (NEV) segment, particularly driven by the performance of its Galaxy brand.
The company’s total vehicle sales surged 48% to 703,800 units, with revenue rising by 25% to 72.5 billion yuan. The Galaxy lineup posted a 214% increase in sales, thanks to economies of scale and growing profit margins in the electric vehicle category.
Geely’s premium EV subsidiary, Zeekr (NYSE:ZK), also delivered solid results, with Q1 deliveries up 21% year-over-year and net loss reduced by 60.2% compared to Q1 2024.
Following the earnings release, Geely’s shares jumped 2.4% to HK$19.60 on the Hong Kong Stock Exchange—marking the stock’s highest level since January 2022.
This strong start to 2025 reflects Geely’s successful pivot to electrification and signals continued momentum in China’s fast-growing EV sector.
