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Geely made a net profit of 6.67 billion new energy vehicles in the first half, selling 14,400 units
- Aug 27, 2018 -

Geely announced its interim results at noon Thursday, with revenue of 57.09 billion yuan in the first half of the year, up 36 percent year on year.Net profit was 6.67 billion yuan, up 54 percent year-on-year.

Geely automobile (00175.hk) disclosed its first-half results at noon on Monday, and the group realized earnings of about 57.09 billion yuan, up 36% year-on-year.Shareholders should account for about 6.67 billion yuan in profit, up 54 percent year-on-year.In the first half, geely sold 766.63 million vehicles, up 44 percent year-on-year.

Founded in 1986, geely entered the auto industry in 1997, from producing refrigerator parts to refrigerator, refrigerator, building and decoration materials and motorcycle.The company has been focusing on industry, with a total assets of more than 270 billion yuan and more than 100,000 employees.Recently released fortune global 500, geely holding ranked 267, 7 years up 208.

Headquartered in hangzhou, geely holding group owns such brands as geely automobile, link automobile, Volvo automobile, Polestar automobile, proton automobile, lutes automobile, London electric vehicle, long-range new energy commercial vehicle, taili flight vehicle, cao cao special vehicle, Homer, shengbao bank and mingtai.By 2020, the annual production and sales of automobiles will reach 3 million, ranking among the top 10 automobile enterprises in the world.

Geely sold 14,400 new energy vehicles in the first half, up 71 percent year-on-year.In the rest of 2018, geely plans to launch two electric car models and will further accelerate the rollout of new energy vehicle versions of most of its vehicle lineup.This will help geely automobile to achieve the blue geely action under the broad goal."Geely boyue" is the best-selling model of geely automobile, with the sales volume reaching 127,000, increasing by 9% annually, accounting for 17% of the total sales of geely automobile in the period.Geely automobile's "emgrand" series cars (including the new emgrand and its new energy vehicle versions) are the main source of overall sales. In addition, on August 18, geely holding group and drb-hicom group officially signed the geely proton strategic cooperation framework agreement for deepening the new energy sector.It is understood that proton will enter the Chinese market with a 50:50 share ratio and initiate comprehensive electrification cooperation with geely.

On the evening of August 13, corun announced that on August 12, the company signed an asset purchase agreement with geely group and China general motors in shenzhen with effective conditions, making geely an important strategic shareholder of corun.

According to the announcement, corun intends to buy 9.90 percent of CHS, which is owned by geely, and 27.07 percent of CHS, which is owned by China national automobile.

Trading plan shows that CHS company 100% equity is estimated to be 22.15 billion yuan.Geely group and China general motors have a combined 36.97 percent stake in CHS, and the deal is tentatively priced at 819 million yuan.