Geely Reports Record H1 Profit Jump of 46%, Lifts 2026 Export Target to 920,000

Geely Automobile Holdings reported record first-half revenue of RMB173.6 billion (approx. $24.2 billion), a 15% year-on-year increase and the first time the group has topped RMB170 billion in a half. Core profit attributable to parent owners surged 46% to RMB9.68 billion (approx. $1.35 billion), far outpacing revenue growth, while gross margin improved to 17.9%.

Total sales reached 1.42 million vehicles for the period. The Geely China Star series contributed over 580,000 units, and the new-energy Galaxy series added nearly 520,000. Zeekr sold more than 178,000 vehicles, roughly 12.5% of group volume, while Lynk & Co delivered over 144,000.

Exports Become the Growth Engine

International shipments were the standout figure: Geely shipped more than 474,000 vehicles overseas in the first half, up 158% year on year and already ahead of its full-year 2025 export target of 420,000. Monthly exports topped 100,000 units in both June and July.

The group has since raised its 2026 overseas target from 640,000 to 920,000 units, saying it aspires to approach one million. Geely currently operates in 114 markets with more than 2,000 retail and service locations.

Geely said it is pursuing a partnership-led globalization strategy across manufacturing, R&D and supply chains with Volvo Cars, Proton, Renault Group and Ford. Its engineering teams in Sweden and Germany have been unified to shorten rollout cycles between China and global markets.

New Models On the Horizon

With BYD's domestic momentum having cooled this year, these numbers sharpen the question: whether Geely is now setting the pace among China's volume carmakers, at home as well as abroad.

Product plans for the second half include the Geely TT, which the group describes as reshaping the C-segment AI electric sports sedan market, and the Zhanjian 700, marking Geely's first entry into the rugged off-road category.

The group is also accelerating hybridization of its internal-combustion lineup, targeting monthly sales of more than 30,000 i-HEV units by year-end, an annual one-million-unit run rate for the China Star series, and international i-HEV rollouts from 2027. First-half R&D spending rose 8% to RMB9.06 billion, though the R&D ratio eased to 5.2% of revenue.