Geely Automobile Holdings Limited (“Geely Automobile” / “The Group”) (Stock code: 175) announced the annual results for the year ended 31 December 2017. During the year, the Group’s financial performance surpassed the management’s expectations with total revenue increased by 73% to RMB92.76 billion as the group’s average ex-factory selling price (“ASP”) continued to improve, mainly driven by the improvement in product mix (i.e. increased proportion of higher-priced models). Total net profit of the group grew 108% from RMB5.17 billion in 2016 to RMB10.74 billion in 2017 due to the increase in overall sales volume, higher ASP and the improved profit margin during the year.
After accounting for non-controlling interests, the net profit attributable to shareholders was up 108% from RMB5.11 billion in 2016 to RMB10.63 billion in 2017. Diluted earnings per share was up 104% to RMB1.16. The group sold a total of 1,247,116 units of vehicles (including the sales volume of “Lynk&Co” vehicles sold by our 50%-owned joint venture) in 2017, up 63% from 2016. The five most popular models in 2017 included“Geely Boyue”(吉利博越),“New Emgrand”, “New Vision”, “Emgrand GS” and “Vision SUV”, which together accounted for 75% of our group’s total sales volume in 2017. The Spokesmen of Geely Automobile said, “Taking into account the Group’s strong new products pipeline for 2018 and the continued strong sales momentum of the Group’s existing models, the Group’s board of directors set its sales volume target for the year of 2018 at 1,580,000 units (including the sales volume target for ‘Lynk&Co’ vehicles), representing an increase of around 27% over 2017.”
