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President of Geely Auto: In two or three years, car companies with internal combustion engine vehicles might be more valuable than those without.

Fast Technology 2025-03-21 10:26:48

Fast Technology March 21 news, Geely Auto recently released the 2024 financial report and held the 2024 performance press conference.

At the meeting, Gui Shengyue, the CEO and executive director of Geely Automobile Holdings Limited, stated:Personal feeling, in two or three years, the competitive landscape of the auto market will be very different from today, and car companies that do not make money are bound to be eliminated.

In two or three years, China will definitely achieve oil and electricity parity, and the valuation methods for car companies in the capital market may change.

At that time, if a company does not have any fuel vehicles, it might be considered a shortcoming.A company with fuel vehicles may be more valuable than a company without fuel vehicles.

And the strongest financial report in history delivered by Geely Auto for 2024 to some extent confirms this statement.

Geely Auto's 2024 financial report shows that the company's total annual revenue reached 240.2 billion yuan, a year-on-year increase of 34%, setting a historical record.

Geely Auto's annual net profit attributable to shareholders was 16.6 billion yuan, a significant increase of 213% year-over-year, with its profitability level second only to BYD, the top-selling domestic new energy vehicle brand.

sales level,Geely Auto's cumulative sales in 2024 reached 2.177 million vehicles, a year-on-year increase of 32%, exceeding the annual target of 2 million vehicles.

And, Geely Auto still maintains a sales structure primarily based on fuel vehicles. Geely has proven with practical actions that, under the backdrop of accelerating the transition to new energy vehicles, walking steadily and efficiently with both fuel vehicles and new energy vehicles is equally viable.

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President of Geely Auto: In two or three years, car companies with internal combustion engine vehicles might be more valuable than those without.

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