Geely Automobile posts record H1 revenue as exports surge

Gasgoo Munich- Geely Automobile Holdings Limited reported record first-half (H1) revenue of RMB 173.6 billion for 2026, up 15% year over year, as rapid export growth and a higher-value product mix offset subdued volume growth.

Profit attributable to the company's shareholders edged down 1.8% year over year to RMB 9.09 billion. On Geely's non-HKFRS basis, which excludes the effects of foreign-exchange movements and asset impairments, core attributable net profit rose 46% over the previous year to RMB 9.68 billion. The contrast between the two figures indicates stronger underlying operations despite accounting-related pressures on reported earnings.

Image source: Geely Automobile

Geely Automobile sold 1.423 million vehicles in the first six months, an increase of about 1% from a year earlier. New energy vehicle (NEV) sales climbed 10% year on year to 799,000 units, accounting for 56.2% of the total and confirming that electrified models now make up the majority of the company's volume.

Exports provided the main source of growth, surging 158% from a year earlier to approximately 474,000 vehicles. Overseas shipments exceeded 100,000 units in June alone for the first time, highlighting the growing importance of international markets to Geely's overall performance.

ZEEKR was one of Geely's strongest growth contributors, with sales leaping 97% year over year to 178,000 vehicles.

The ZEEKR 9X luxury SUV generated more than 46,000 units of sales during the period. Geely said that made it China's best-selling vehicle across all categories priced above RMB 500,000 in the first half of 2026. The claim is based on the company's interpretation of domestic market data and price-segment boundaries.

The model's performance is commercially significant because higher-priced vehicles such as the 9X can support margins even when growth in Geely's overall sales volume remains limited.

A greater contribution from premium models and exports lifted average revenue per vehicle by RMB 15,000 to RMB 112,000. Geely's gross margin improved by 1.6 percentage points to 17.9%, showing that the company generated more revenue and gross profit from each vehicle despite intense pricing competition in China.

Net cash generated from operating activities reached RMB 19.9 billion, giving the automaker additional resources for product development, overseas expansion and investment in electrification and intelligent-vehicle technologies.

For the second half, Geely Automobile plans to defend its position in China while accelerating its overseas development. Product upgrades will increasingly be organized around the company's "full-domain AI" strategy, which applies artificial intelligence across areas such as assisted driving, smart cockpits, vehicle control and product development.