Geely posts record RM 112.84 billion revenue as first-half sales top 1.42 million units

Geely Auto has had a big first half of 2026, selling more than 1.42 million vehicles and generating RMB 173.6 billion (~RM 112.84 billion) in revenue. Core net profit attributable to owners of the parent jumped 46% year on year to RMB 9.68 billion (~RM 6.29 billion).

Revenue and profit hit new highs

Geely's revenue rose 15% year on year to RMB 173.6 billion (RM 112.84 billion) in the first half, extending its run of annual growth to six consecutive years.

Core net profit attributable to owners of the parent jumped 46% to RMB 9.68 billion (~RM 6.29 billion), while gross margin improved to 17.9%. Core net profit per vehicle also rose 45% to RMB 6,806 (~RM 4,424).

The company also managed to keep costs under control while spending more on development. Administrative and R&D expense ratios both fell, even as actual R&D spending increased 8% to RMB 9.06 billion (~RM 5.89 billion).

Cash reserves stood at RMB 69.56 billion (~RM 45.21 billion) at the end of June. Geely had bought back HK$1.885 billion (~RM 1.04 billion) worth of shares, while its interim dividend rose 51.5% to HK$0.50 (~RM 0.28) per share. Total dividends came to HK$5.39 billion (~RM 2.96 billion), keeping the core profit payout ratio above 30% for a fifth consecutive year.

Geely's share price has also held up better than most Chinese passenger-car manufacturers, while major international investment banks including Citibank, Morgan Stanley and JPMorgan have maintained Buy or Overweight ratings on the stock.

Strong results across the lineup

Zeekr

First-half sales topped 178,000 units, accounting for 12.5% of Geely's total, while the brand contributed 31.7% of group revenue.

Its average selling price was around RMB 350,000 (~RM 227,500) per vehicle, putting it above Mercedes-Benz, BMW and Audi on average pricing.

The Zeekr 9X Glory is due later this year, joining the 009 Glory as a pair of ultra-luxury four-seat flagships. Zeekr will also step up its overseas expansion.

Lynk & Co

The brand sold more than 144,000 vehicles in the first half. New models including the 07 GT and the new Z20 are set to help it move further into higher-end segments in the second half.

Geely Galaxy

First-half sales came close to 520,000 units, putting the brand among the world's top three NEV brands. New models on the way include the Galaxy TT, Galaxy Cruiser 700, plus updated versions of the Galaxy E5 and M9.

China Star

Geely's petrol-powered range sold more than 580,000 units in the first half, extending its run as China's best-selling Chinese-brand petrol passenger-car lineup to 10 consecutive years. The range will also move further towards hybrid powertrains, as Geely targets annual sales of 1 million units.

Overseas growth takes off

Geely's overseas business is becoming an increasingly important part of the group's growth story. Overseas sales topped 474,000 vehicles in the first half, exceeding its total exports for all of 2025. That was a 158% year-on-year increase, one of the fastest growth rates among major carmakers.

Much of that expansion has come through partnerships with established local players, including Proton in Malaysia, Volvo, Renault and Ford, allowing Geely to build a presence in new markets without having to develop every market from scratch.

Geely now operates 12 overseas manufacturing plants, with total overseas production capacity of more than 650,000 vehicles. That figure is expected to rise above 840,000 units by the end of the year.

Its overseas sales network now covers 114 key markets, including 17 emerging markets, while the number of offline sales outlets has surpassed 2,000.

Geely is also raising its ambitions. The company has lifted its 2026 overseas sales target from 640,000 to 920,000 vehicles, putting it on course for its longer-term goal of 1 million overseas sales a year.

Looking ahead

Geely plans to step up its technology push in the second half of the year, with upgrades including an enhanced WAM model, G-ASD driver assistance system, an AI off-road architecture and an all-terrain AI digital chassis.

The company has also set up its 2030 Laboratory, focusing on embodied intelligence, large language models and AI agents as it works towards becoming a leader in AI-powered smart vehicles.