Geely may be planning a “change” while celebrating the “harvest season” in the third quarter.
And this may become a typical example of the internal adjustment of large-scale and complex automobile groups.
Sales and earnings increased, and overseas territory expanded.
On November 14, Geely released its third-quarter 2024 results.
According to the data, Geely’s income in the first three quarters of this year was 167.
684 billion yuan, up 36% from the same period last year, while the profit attributable to the company’s equity holders was 13.
053 billion yuan, up 358% from the same period last year.
In the third quarter, Geely’s revenue reached 60.
4 billion yuan, setting a new record and achieving 20.
5% year-on-year growth.
In the same period, the profit attributable to Geely’s core shareholders reached 2.
76 billion yuan, an increase of 116% over the same period last year.
At the same time, Geely has good news in terms of vehicle sales.
According to the financial report, Geely sold 534000 vehicles in the third quarter, a record high and 18.
7% year-on-year growth.
It is reported that Geely’s sales rose 32% year-on-year to 1.
72 million vehicles in the year to October.
Geely will be able to meet its annual sales target of 2 million vehicles as long as it delivers an average of about 150000 vehicles a month in November and December.
Geely is also doing well, especially in the field of new energy vehicles.
From January to September this year, Geely’s sales of new energy models reached 546000, showing strong market demand.
Especially in the third quarter, Geely’s new energy penetration rate in the domestic market exceeded 50%.
Geely Automobile, it is worth noting that the financial report shows that Geely vehicle sales are showing a strong momentum of development in the global auto market.
From January to September this year, Geely’s overseas export sales totaled 314000 vehicles, an increase of 68% over the same period last year, far exceeding the year-on-year growth rate of automobile exports announced by the China Association of Automobile Manufacturers in the same period.
Among them, Geely’s overseas export sales reached 117000 vehicles in the third quarter of this year, an increase of 71% over the same period last year.
With the steady progress of Geely’s sub-brand globalization strategy, the company’s vehicle overseas market continues to expand.
Touyuan: Geely and Geiser have learned that Geely’s sub-brands are entering overseas markets more and more frequently, and the strategic layout of these sub-brands in the Middle East, Asia-Pacific, Africa, Latin America, Europe and other regions is accelerating the system-wide export of Geely products, channels and technologies.
For example, Geely Preface is unveiled in the United Arab Emirates, Atlas is listed in Kazakhstan, and New Emgrand is launched in Mexico.
In addition, the Lectra brand continues to dig deep into the European and Asia-Pacific markets, launching the pure tram Lecker Z20, completing its global debut and listing in Latin America and the Middle East.
the extreme krypton brand accelerated globalization, landed in Thailand and launched the right-hand version of Polar Krypton X.
into Norway, Egypt and other markets, has expanded to more than 40 countries and regions.
, integrate the brand, “new team” set out? Also on November 14, Polar Krypton released its third quarter 2024 results.
During the reporting period, the total revenue of polar krypton was 18.
36 billion yuan, an increase of 31% over the same period last year.
the delivery of 55000 units in a single quarter, and vehicle revenue exceeded 14.
4 billion yuan, an increase of 42% over the same period last year, and both delivery and vehicle revenue reached record highs.
What is more worth mentioning is that in the first three quarters of this year, the total revenue of polar krypton exceeded 53.
1 billion yuan, an increase of more than 50% over the same period last year, and has exceeded the annual performance of 2023.
On November 14, Galaxy noted that China Economic Network said it had learned from reliable sources that Geely’s Polar Krypton and Lectra would carry out strategic integration with the goal of achieving Polar Krypton holding to Lectra, which will be officially announced in the near future.
Tuyuan: polar krypton, specifically, then some media quoted sources reported that polar krypton would buy 51% of Lectra’s shares.
Polar Krypton’s plan to buy a majority stake in Lecker will pull some of its current shareholders, Volvo Motors, out of the joint venture.
The deal values Lectra at about $2.
5 billion.
The report also said that since the Taizhou Declaration was issued on September 1, 2024, announcing the transformation of enterprises from strategic expansion to strategic focus, Geely’s business sectors are accelerating the integration and have now reached the core business.
Although so far, Geely Holdings Group and extreme Krypton officials have said to the industry media questions: do not comment, Lectra did not respond to media requests for comment.
But affected by the news, polar krypton shares rose more than 12% to $29.
14 a share, with a total market capitalization of $7.
215 billion (about 52.
26 billion yuan).
It soared $778 million (5.
6 billion) overnight.
You know, for Geely, Lectra and polar krypton bear the responsibility of brand upward, and it is not too much to be called a “right-hand man”.
So far this year, polar krypton has accelerated its pace in the capital markets.
Polar krypton was listed on the New York Stock Exchange on May 11, becoming Li Shufu’s ninth IPO.
And by the close of the day, polar krypton had a market capitalization of $6.
829 billion, making it the fastest new car-building force to achieve IPO.
Touyuan: polar krypton and Lecker was born in 2017 and reached 1 million sales in six years, a remarkable achievement.
But admittedly, Lecker seems to have caught up with a “late set” on the new energy electric car track before launching its first all-electric car this year.
And in the comparison of competitive products, Lecker can not bypass the polar krypton all the time.
Lecker, for example, used to focus on plug-in hybrid models to distinguish it from polar krypton.
But this year, Lectra launched its first pure electric car, the Z10, which costs 18.
08 to 313800 yuan, which overlaps with polar krypton 001 and polar krypton 007.
And the total delivery volume of this model is not optimistic.
It is not difficult to merge, and the “big automobile group” is light, so apart from Lecker’s plug-in hybrid model, what is the difference between Lecker pure electricity and polar krypton pure electricity? Galaxy noted that in mid-June this year, Lin Jie, senior vice president of Geely Automobile Group and general manager of Lecker Automobile sales Company, was asked in a media group interview about the difference between Polar Krypton and Lectra.
He said: “what Lectra has in common with Polar Krypton is that both Polar Krypton and Lectra Pure Power come from the vast SEA architecture and have the same safety and performance genes, which can cooperate with the group’s superior car-building resources.
The difference is in four aspects: brand positioning, crowd positioning, brand style and user characteristics.
” In view of the similarities between the two– pure electricity comes from the vast architecture dimension of SEA, on November 14, it was reported that it learned from informed sources that the polar krypton vehicle research and development team essentially docked all the projects in the group that adopted the vast architecture platform, and provided technical support according to different product requirements.
It said that the three electric development and performance training of Lecker Z10, the first pure electric product of Lecke, were all developed byCompleted by Jikrypton R & D personnel.
Prior to this, the research and development of LinkLink was under the responsibility of Geely Automobile European Research and Development Center (CEVT).
Source: Geely, in other words, Geely, Lingk, and Jingkrypton all need to answer the consumer market: What is the essential difference between Lingk pure electric and Jingkrypton pure electric vehicle products? As Lin Jie said, the difference between the two brands lies in “brand positioning, crowd positioning, brand style and user characteristics.
” However, what Gashi Automobile needs to point out is that at a time when the “price war” for complete vehicles is becoming increasingly fierce, it seems difficult for a large-scale automobile group to have sufficient energy to distinguish its various automobile brands such as “brand positioning, crowd positioning, brand style and” User characteristics “and other tags.
It seems that to a large extent, for car companies, sales volume is everything.
for the consumer market, price is the “king’s way”.
These are not only problems that Geely needs to face, but also problems that most “big automobile groups” like Geely (such as SAIC) need to face.
Photo source: Gekrypton, in order to avoid the “compatriots ‘struggle” such as SAIC’s Feifan and Zhiji, it would not be inappropriate for Gekrypton to join forces with Lingke Holdings to achieve the joint efforts of “right and left arms”.
In addition, Gashi Automobile also noticed that there has been recent news that radar has also been exposed or will be integrated into Geely Group, and Geologi has been confirmed to be integrated into Galaxy.
Shen Ziyu’s position as chairman of Jixing will be taken over by An Conghui, chairman of Jikrypton Technology.
This is also regarded by the industry as a harbinger of further integration or synergy between Jikrypton and Jikrypton in the future.
It is reported that some people close to Geely told industry media that it is not difficult to merge the Geely automobile brand internally.
On the one hand, Geely adopted a similar “One Geely” strategy 10 years ago, uniting Emgrand, England and Global Eagle under the Geely brand and has historical experience in mergers.
In addition, Geely is committed to opening up the supply chain and procurement between various brands, with a high overall degree of integration and generalization.
If Geely’s above adjustments are true, we hope that this giant automobile group will “pack lightly” and go further and further in the future.
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