Geely's Strongest Financial Report in History! 2024 Revenue Exceeds 240 Billion, Reaching a New High; Net Profit Surges 2 Times
Fast Technology March 20 news, Geely Auto today released the 2024 and Q4 financial reports.
The data shows,In 2024, the company's total revenue reached 240.2 billion yuan, a year-on-year increase of 34%, setting a historical record; the net profit attributable to shareholders was 16.6 billion yuan, a significant year-on-year increase of 213%.Net profit attributable to shareholders after excluding non-recurring items was 8.5 billion yuan, a year-on-year increase of 52%, with a significant improvement in operating profitability.
In terms of sales, Geely Auto's cumulative sales for 2024 reached 2.177 million vehicles, a year-on-year increase of 32%, exceeding the annual target of 2 million vehicles.
Among them, the new energy business performed particularly well, with the cumulative annual sales of the three major brands exceeding 888,000 units, a year-on-year increase of about 92%, and the domestic market penetration rate exceeded 50% for five consecutive months. The average revenue per vehicle reached 107,000 yuan/unit, and the product structure continued to optimize.
Geely stated that thanks to the manifestation of scale effects and a significant enhancement in the competitiveness of core products, the company's total gross profit has greatly increased to 38.2 billion yuan, with a gross margin reaching 15.9%, showing a steady improvement.Net cash level rose 40% to 39.8 billion yuan, reaching a record high.
In 2024, "Smart Geely 2025" enters its concluding year, with Geely becoming the world's only automaker to complete a comprehensive AI intelligence layout, constructing a complete AI intelligence ecosystem through key components such as intelligent computing centers, operating systems, smart cockpits, autonomous driving, and satellite internet, propelling the industry into a new phase of "AI-defined automobiles."
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