Rakuten on June 30
Geely Automobile (Stock Code: 175 (HKD counter) and 80175 (RMB counter)) recently announced its financial results for the year ended March 31, 2024. According to the financial report, Geely Automobile's revenue in the first quarter of 2024 was 52.315 billion yuan, an increase of 56% from 33.5 billion yuan in the same period last year.
Geely sold 475,700 vehicles in the first quarter of 2024, up 49% from 318,200 units in the same period last year. Geely Automobile said that the significant increase in revenue was mainly due to the significant increase in sales volume and the continuous optimization of product structure.
Geely Automobile's gross profit for the first quarter of 2024 was 7.147 billion yuan, an increase of 51% from 4.747 billion yuan in the same period last year.
Geely Automobile's profit for the first quarter of 2024 was 1.418 billion yuan, compared to 405 million yuan in the same period last year, and the profit attributable to equity holders of the company was 1.561 billion yuan, an increase of 119% from 714 million yuan in the same period last year.
Geely Automobile also disclosed the financial data of its holding company Zeekr, which showed that Zeekr's revenue in the first quarter of 2024 was 14.717 billion yuan, compared with 8.62 billion yuan in the same period last year;
ZEEKR delivered 33,000 vehicles in the first quarter of 2024, an increase of 117% from the same period last year. ZEEKR's gross profit in the first quarter of 2024 was 1.8 billion yuan, an increase of 137% over the same period last year; Gross margin was 12.3%, up 3.4 percentage points from 8.9% in the same period last year.
ZEEKR reported a loss of RMB443 million in the first quarter of 2024, compared to a loss of RMB682 million in the same period last year, and a loss of RMB179 million in equity allocated to non-controlling shareholders, compared to a loss of RMB324 million in the same period last year.
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