Geely Auto’s Core Profit Surges 41% in Nine Months

Geely Automobile Holdings Limited announced a 41% year-over-year surge in core profit attributable to owners of the parent for the nine months ending September 30, 2026, reaching RMB14.90 billion, according to a filing with the Hong Kong Exchange. This increase outpaced the 7% growth in profit attributable to owners of the parent, which totaled RMB13.93 billion, a 7% increase compared to the same period last year.

The positive results were underpinned by a 7% rise in total sales volume, reaching 812,523 units during the third quarter of 2026, and a 10% increase in revenue for the same period. The revenue growth exceeded the sales volume increase, indicating a positive shift in product mix and average selling price. This mirrors a broader trend of automakers focusing on higher-margin vehicles to boost profitability.

Geely’s financial performance benefited from a series of business combinations completed in May 2026, acquiring entire equity interests in several entities, including Radar Automobile (Shandong) and Riddara Automobile (Thailand). These acquisitions, accounted for as business combinations under common control, have been integrated into the Group's consolidated financial statements as if they had always been part of the organization.

The company’s net current liabilities position improved to approximately RMB8,745 million as of September 30, 2026, a 42% improvement from RMB15,042 million at the end of June 2026. This improvement was attributed to stronger operating cash inflows and enhanced working capital management, reassuring investors about the company’s short-term liquidity.

The reported 41% increase in core profit significantly exceeds the 7% growth in profit attributable to owners of the parent. This disparity is primarily due to net foreign exchange losses recognized during the period, contrasting with net foreign exchange gains recorded in the corresponding period of the previous year. The improved core profit, coupled with the reduction in net current liabilities, signals a strengthening of Geely’s underlying operating performance amid fluctuating currency markets and continued investment in its product portfolio.