The net profit was 5.308 billion yuan, exceeding the sales target! Geely automobile performance released

　　On March 20th, Geely Automobile disclosed its 2023 annual report. During the reporting period, Geely Automobile achieved an operating income of 179.2 billion yuan, a year-on-year increase of 21%; The net profit of returning to the mother was 5.308 billion yuan, which was basically the same as that in 2022, an increase of 1%; The gross profit increased by 31% year-on-year to 27.4 billion yuan, and the gross profit margin increased by 1.2 percentage points from 14.1% in 2022 to 15.3%.

　　Geely Automobile said that the company sold a total of 1,686,500 vehicles in 2023, an increase of 18% year-on-year, exceeding the sales target of 1.65 million vehicles set in early 2023. Among them, the wholesale volume in China increased by 14% year-on-year to 1,412,400 units; The export wholesale volume increased by 38% year-on-year to 274,100 vehicles. In addition, the Geely brand sold nearly 1.31 million vehicles (including more than 80,000 Galaxy vehicles), with a total of about 220,000 vehicles sold by Link and 118,700 vehicles sold by Krypton.

　　In terms of expenditure, the total capital expenditure of Geely Automobile in 2023 (including property, plant and equipment, capitalized product research and development costs and prepaid land lease payments) was RMB 15.3 billion, higher than the budget of RMB 14 billion in early 2023. According to the company, this is mainly due to the Group’s accelerated transformation of new energy and intelligence, and high R&D investment. As of December 31, 2023, Geely Automobile’s R&D expenditure totaled RMB 7.81 billion, an increase of 15.45% over 2022.

　　Geely Automobile said that in 2024, Geely Automobile aims to sell 1.9 million vehicles, of which the sales target of new energy vehicles is 66% higher than the total sales achieved in 2023, and the corresponding sales volume is about 810,000 vehicles.