Geely Automobile Profit Rises on Strong Export Growth
Geely Automobile's third-quarter net profit rose 28% to 4.84 billion yuan as exports more than doubled. Revenue climbed 10%, according to Dow Jones Newswires.
- published on Newsmetry
- original source published
the same feed is available to bots and dashboards through the api. connect the api →
what happened
Geely Automobile, China's second-largest electric-vehicle maker, reported higher third-quarter profit, helped by strong overseas shipments. According to Dow Jones Newswires, net profit for the three months ended September rose 28% to 4.84 billion yuan, or $726 million. Revenue grew 10% to 98.96 billion yuan.
The company sold 812,523 vehicles, up 6.8% from a year earlier, while exports more than doubled to 323,442 units. Geely is also deepening its European presence, having agreed a manufacturing partnership with Ford under which two electric SUVs will be built at Ford's Spanish plant and the companies will jointly develop a new model.
why it matters
A key risk to margins next year is China's plan to cut the value-added tax export rebate for new-energy vehicles to 9% from 13%. Local production abroad could partly offset that reduction, so investors will watch margin trends closely.
market impact
Geely Automobile shares: higher profit and exports support the stock
- Geely Automobile shares pressure up — higher profit and export sales support the company's results
tags
instruments
sources
- Geely Auto Profit Climbs on Export-Driven Revenue Growth — Dow Jones Newswires, 29 October 2026 at 04:24 UTC
- Geely Auto Profit Climbs on Export-Driven Revenue Growth — Dow Jones Newswires, 29 October 2026 at 04:39 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
alerts on your topics, the morning digest and the api — in your account.
get stories in real time ↗