Geely's H1 revenue hits record $25.7 billion, per-car profit up 45 percent

Geely reported its 2026 first-half results on August 17, and the numbers stand out in a market defined by price cuts. Total revenue reached a record 173.6 billion yuan ($25.7 billion), up 15 percent year over year, extending the automaker's revenue growth to six straight years. Core net profit attributable to shareholders jumped 46 percent to 9.68 billion yuan ($1.4 billion), growing much faster than revenue.

Geely separates core profit from the book figure. Book net profit came in at 9.09 billion yuan ($1.35 billion), down 1.8 percent, dragged by non-recurring items, mainly currency exchange losses. Stripping those out shows how the core business is actually performing.

Profitability improved across the board. Gross margin rose to 17.9 percent, average revenue per vehicle climbed 16 percent to 112,000 yuan (about $16,600), and per-vehicle core net profit jumped 45 percent to 6,806 yuan (about $1,010). The mix is shifting toward premium models, and it shows in the money.

Volume hit 1.423 million vehicles in the first half, a record for the period, with the Zeekr, Galaxy, Lynk & Co and Geely brands working together. New-energy models keep taking a bigger share of sales.

Exports are the other growth engine. Overseas shipments jumped 158 percent, including 277,000 new-energy vehicles, as Geely accelerates its overseas channels and local production.

Under its One Geely strategy, the group is cutting costs, keeping a lid on administrative expenses and holding steady R&D investment while pushing all-domain smart EV technology. In an industry squeezed by price wars, Geely is proving that premium push and overseas expansion can both carry the bottom line through the cycle.