Geely Auto Financial Report: Geely's total revenue will reach 240.2 billion yuan in 2024, a year-on-year increase of 34%

Geely Auto released its 2024 and Q4 financial reports. Data shows that in 2024, the company's total revenue reached 240.2 billion yuan, a year-on-year increase of 34%, a record high; net profit attributable to the parent company was 16.6 billion yuan, a year-on-year increase of 213%; net profit attributable to the parent company after deducting non-recurring items was 8.5 billion yuan, a year-on-year increase of 52%, and operating profitability has significantly improved. In terms of sales, Geely Auto's cumulative sales in 2024 were 2.177 million vehicles, a year-on-year increase of 32%, exceeding the annual target of 2 million vehicles.

Among them, the new energy business performed particularly well, with the three major brands selling more than 888,000 vehicles in total throughout the year, up 92% year-on-year, and the domestic market penetration rate exceeding 50% for five consecutive months. The average revenue per vehicle reached 107,000 yuan per unit, and the product structure continued to be optimized.

Geely said that thanks to the scale effect and the significantly enhanced competitiveness of its core products, the company's total gross profit increased significantly to 38.2 billion yuan, with a gross profit margin of 15.9%, which was stable and rising. Net cash level increased by 40% to 39.8 billion yuan, a record high.

In 2024, "Smart Geely 2025" entered its final year. Geely became the only car company in the world to complete the full-domain AI intelligent layout. Through core links such as intelligent computing center, operating system, smart cockpit, autonomous driving and satellite Internet, it built a complete AI intelligent ecosystem and promoted the industry into a new stage of "AI defining cars".

Zikuai Technology