China's Geely Automobile half-year profit slips on higher expenses

Geely Automobile Holdings

17/08/2026 05:11

Overview
China auto maker's interim revenue for six months to June 30 rose 15% yr/yr
Net income attributable to owners declined 2% yr/yr for the period
Company resolved not to pay an interim dividend for the period

Outlook
Group intends to establish the 2030 Laboratory, focusing on forward-looking technological innovation and research
Company will accelerate localisation cooperation on industrial capacity in overseas markets

Result Drivers
HIGHER SELLING EXPENSES - Distribution and selling expenses increased compared to prior period
IMPAIRMENT LOSSES - Impairment losses on trade and other receivables and non-financial assets increased year-on-year
MODEST SALES VOLUME GROWTH - Total sales volume rose just 1% yr/yr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 173.60 bln
 
H1 Net Income Attributable
 
RMB 9.09 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 30 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto & truck manufacturers peer group is "buy"
Wall Street's median 12-month price target for Geely Automobile Holdings Ltd is HK$28.00, about 57.1% above its August 14 closing price of HK$17.82
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Aug 14 - China's Guangdong Yueyun Transportation interim profit rises on asset disposal gains
Aug 14 - CK Asset shares tumble on special dividend disappointment
Aug 14 - Germany's Grammer H1 EBIT rises, but revenue subdued on weak Americas; flags challenging market

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)