On August 22, Geely Automobile Holdings Co., Ltd. ("Geely Auto") (0175.HK) released its first-half performance report. Geely Group's total sales in the first half of the year were about 694,000 units, a year-on-year increase of 13.1%; new energy vehicle sales were about 158,000 units, a year-on-year increase of 43.9%; export sales were about 121,000 units, a year-on-year increase of 38.3%. Geely Automobile's revenue in the first half of the year was 73.18 billion yuan, a year-on-year increase of 25.8%; the average bicycle price was 101,000 yuan, a year-on-year increase of 6.8%. Due to the intensified market competition and the increase in the proportion of new energy, the gross profit margin fell slightly by 1.17% year-on-year to 14.4% %. Geely continues to increase investment in intelligent electrification research and development, with a total investment of RMB 5.91 billion, a year-on-year increase of 62.8%. The total cash level remained stable at RMB 33.64 billion: operating cash flow increased by 9.1% to RMB 10.70 billion; Jikrypton completed A-round financing of US$750 million, with a valuation of US$13 billion. In the first half of the year, Geely exported a total of 121,185 vehicles, an increase of 38% from the same period last year, and exports accounted for 17% of the group's total sales. At the press conference, some media asked questions about the recently established "Jiyue" brand and the price war. Regarding the "Jiyue" brand, Li Donghui, CEO of Geely Holding Group, said that it is a cooperation between Geely Exploration and Internet technology companies, and it is an attempt and discussion to seek synergy in areas such as unmanned driving, human-computer interaction, and automotive robots. Li Donghui said that Jiyue is a high-end intelligent automotive robot brand under Geely Holdings. He trusts the technical support of partners in big data models, human-computer interaction, and driverless driving. He believes that Jiyue can serve different consumer groups and segments in the future. The market offers options. In response to price wars, Gan Jiayue, CEO of Geely Automobile Group and executive director of Geely Automobile Holdings Co., Ltd., said that Geely Automobile does not need to participate in price wars, but focuses on brand wars, value wars, technology wars, service wars, and moral wars, and focuses on building high-quality products. value product.
