China’s Geely Tops Estimates, Snapping Four-Year Profit Drop
- Net income rises 9% to 5.26 billion yuan, revenue jumps 46%
- Automaker forecasts 15% growth in vehicle sales this year
Inside a Zeekr Co. 001 electric vehicle.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Geely Automobile Holdings Ltd., the centerpiece of billionaire Li Shufu’s car empire, posted earnings that beat estimates and forecast further sales growth this year.
Net income rose 9% to 5.26 billion yuan ($764 million) in 2022, the company said in a statement Tuesday, beating analyst estimates of 4.85 billion yuan, according to data compiled by Bloomberg. Revenue climbed 46% to 147.96 billion yuan.