Geely Automobile

Geely is a Chinese carmaker which sells cars under the brands Emgrand, Englon, Geely, Gleagle and Volvo, which it acquired from Ford Motor in 2010 for US$1.8 billion. A Geely unit is listed on the Stock Exchange of Hong Kong.

Carmaker Geely reports 46pc fall in profit as Russian woes bite

Geely sold 417,851 vehicles last year. Photo: Reuters

Mainland carmaker Geely Automobile posted a 46 per cent fall in profit last year, dragged down by lacklustre exports and losses on operations in Russia, but the company sees a better year ahead, with domestic sales expected to pick up.

Wednesday, 18 March, 2015, 1:32pm

BYD and Geely record strong profit growth

Geely's aims for a conservative 5.6 percent growth in sales this year. Photo: Reuters

BYD yesterday said net profit soared 579 per cent last year to 553.09 million yuan (HK$692.8 million) following improved performances in its car, phone components and battery businesses.

Turnover rose 12.1 per cent to 49.77 billion yuan.

20 Mar 2014 - 1:09am

Geely profit rises 32pc as domestic sales, exports surge

An assembly line at Geely Auto's Ningbo factory in Zhejiang province. Photo: Xinhua

Chinese carmaker Geely said on Wednesday its last year net profit jumped 32 per cent, helped by recovering domestic sales and strong growth in exports. The owner of Swedish nameplate Volvo, Geely said its net profit for the year ended December 31, last year was 2.04 billion yuan (US$328 million), up from 2011’s 1.54 billion yuan, in a filing to the Hong Kong stock exchange where it is listed.

21 Mar 2013 - 12:22am

Business Digest, February 15, 2013

Geely sales jump 67pc to record in January

The European Union proposed a tax on financial transactions that could be collected worldwide as soon as next year by the 11 countries that have so far signed up to participate.

15 Feb 2013 - 5:27am

Geely falls after Goldman Sachs sells stake

A specially designed by request London taxi, built by Geely. Photo: Reuters

Geely Automobile fell the most in three months in Hong Kong trading after Goldman Sachs Principal Investment Area sold shares at a 7.8 per cent discount.

29 Nov 2012 - 1:48pm

Briefs, October 12, 2012

AIA confirms it is buying ING Malaysia

AIA, the third-largest Asia-based insurer, agreed to buy ING's insurance business in Malaysia for about €1.3 billion (HK$13 billion) in its largest acquisition as a listed company. The purchase will boost the percentage of profit AIA gets from Malaysia to 13 per cent from 8 per cent. Bloomberg


12 Oct 2012 - 3:00am

Wacky tycoon shouts 'free Chinese cars' from the rooftops

Dressed in green Chen Guangbiao - who made his fortune in recycling - gives away 43 Chinese Geely cars to those whose Japanese brands were ruined last month. Photo: Reuters

A Chinese philanthropist known for his populist gestures has pledged to give domestically-made cars to more than 40 people whose vehicles were damaged in widespread anti-Japan protests last month.

The protests erupted in cities across China over a dispute involving islets in the East China Sea, and saw some demonstrators targeting Japanese-brand cars.

12 Oct 2012 - 4:39am

Briefs, September 29, 2012

CNOOC may need to sweeten Nexen deal

29 Sep 2012 - 2:31am

China cars: Volvo sputters, GM sails

Geely Chairman Li Shufu attends a press conference after the signing ceremony in Goteborg of Sweden, March 28, 2010. Photo: Xinhua

Volvo is rapidly running into trouble and could eventually pull down Geely, while GM is consolidating its market leading position through strong growth for its low-end cars.

26 Sep 2012 - 12:42pm

Export growth pushes Geely Automobile past weak local demand

Geely Automobile's exports nearly tripled in the first six months of the year. Photo: Bloomberg

A sharp growth in exports not only rescued mainland carmaker Geely Automobile from weakening demand at home but also made it one of the best performers among its domestic rivals in the first half of this year.

23 Aug 2012 - 9:11am

Sales cap puts brake on car shares

Car stocks tumbled yesterday following Guangzhou's weekend decision to halve the annual cap on new car registrations.

Mainland car stocks also carried on their slide from Monday, when the Hong Kong market was closed for a public holiday.

4 Jul 2012 - 12:00am

Geely to unveil Volvo venture car next year

Geely Automobile says it will roll out its domestically produced car - developed with Volvo - as early as next year, with a price tag of 100,000 to 300,000 yuan.

The Hong Kong-listed arm of Zhejiang Geely is betting on the rights to use Volvo technology, which will provide a competitive edge in the mid-priced passenger car market.

23 Mar 2012 - 12:00am

Smaller impact seen from car policy

A new government procurement policy that was hailed as a lifeline for the mainland's carmakers may not be what it first seemed, after a top official clarified last Friday that government leaders are not bound by the new rule.

12 Mar 2012 - 12:00am

EU keen to avoid China car war

The European Union Chamber of Commerce in China dismissed suggestions that it would mobilise retaliation against Beijing's proposal to exclude foreign carmakers from a public fleet procurement programme expected to be worth 12 billion yuan (HK$14.7 billion) a year.

6 Mar 2012 - 12:00am

Geely and Volvo to work on joint Chinese brand

Zhejiang Geely Holdings Group will soon announce a plan to develop a new Chinese brand with Volvo Car Corp through a 50-50 joint venture.

Although Geely acquired Volvo in 2010, Volvo is still considered a foreign car company, the group's spokesman, Yang Xueliang, said yesterday.

23 Feb 2012 - 12:00am