Geely's net profit in the first half of the year was 6.6 billion yuan, a 54% increase from the same period last year

On August 22, Geely Automobile released its financial report for the first half of 2018. The company's total revenue in the first half of the year was 53.7 billion yuan (excluding the income of the Lynk & Co joint venture), a year-on-year increase of 43% from 39.4 billion yuan in the same period last year; the net profit in the first half of 2018 was 6.67 billion yuan, a year-on-year increase of 54% from 4.34 billion yuan in the same period last year.

Data from the China Association of Automobile Manufacturers shows that in the first half of 2018, the total sales volume of China's own-brand passenger cars increased by 4.6% year-on-year, while the annual growth rate of the Geely brand was 44% (including the sales of Lynk & Co cars), reaching a total of 766,630 vehicles, and export sales rebounded by 126% to 8,699 vehicles.

At present, the passenger car market in China is highly competitive, but during this period, Geely brand has shown good sales data for both sedans and SUVs. And due to the addition of high-profit models such as Lynk & Co, the company's overall economic scale has increased, which is also an important aspect of the increase in net profit.

During this period, the additional benefits from Lynk & Co led to a rapid growth in net profit in the first half of 2018, with standalone earnings per share rising 52% to RMB 72.65 cents.

Geely Holding's total cash level increased by 20% from the end of last year to RMB 16.17 billion, with total borrowings of RMB 3.29 billion and net cash on hand of RMB 12.88 billion.

In the first half of 2018, the Geely brand's most outstanding performance and the largest sales model was the Geely Boyue, which reached 127,088 units, an increase of 9% over last year, accounting for approximately 17% of Geely brand's total sales in the first half of the year.

Geely Emgrand series (including Emgrand NEV version) was the main contributor to overall sales, with total sales of 115,408 units, down 2% from last year, accounting for 15% of the group's overall sales in the first half of the year.

Following the launch of Geely Boyue and Geely Vision, two mid-size SUVs, Geely has taken the opportunity to launch Vision X3, Vision S1 and Vision X1 models to continue to expand its SUV market share. The total sales volume of existing SUV models was 318,949 units, a year-on-year increase of 78%, accounting for 42% of the sales volume of all models in the first half of the year.

Lynk & Co's first model, Lynk & Co 01, was launched in the Chinese market at the end of 2017. In the first half of 2018, the total sales of Lynk & Co 01 was 46,252 units.

The Lynk & Co joint venture was established in October 2017 and is jointly owned by Geely Holding and Volvo Cars. Lynk & Co will launch two more new models in the second half of 2018: Lynk & Co 02 and Lynk & Co 03. Despite the initial operation and production capacity constraints, Lynk & Co still made a net profit of RMB 341 million in the first half of 2018.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.