Geely’s Q3 Revenue Rises 10% to 98.964 Billion Yuan

Key Facts

Geely Automobile reported revenue of 98.964 billion yuan in the third quarter of 2026, up 10% from the same period a year earlier, according to the company’s results for the three months ended September 30. Profit attributable to owners of the parent rose 28% to 4.84 billion yuan, but fell short of Bloomberg analysts’ estimate of 5.19 billion yuan, according to coverage published after the results. Vehicle sales totaled 812,523 units, up 7% year on year. On the day the results were announced, Geely’s Hong Kong-listed shares rose 2.3% to HK$14.52, while the Hang Seng Index fell about 0.1%, according to Investing.com. The share gain coincided with the results announcement, but available sources do not establish that revenue growth or any particular factor caused the move.

A comparison of revenue and unit sales growth shows revenue expanding faster than the number of vehicles sold: revenue rose 10%, compared with a 7% year-on-year increase in sales in the third quarter. The company attributed revenue growth to “significant growth in export sales and a higher contribution from higher-value products.” It said this improved the product mix and average selling price, linking revenue performance to a shift in the composition of sales. The statement gives no separate figure for the average selling price or the contribution from exports, so this remains the company’s account of the drivers of revenue growth. The figures put unit and revenue growth in the same context without making higher revenue synonymous with an equivalent increase in the number of vehicles.

On profitability, adjusted profit attributable to owners of the parent rose 32% to 5.21 billion yuan during the quarter, exceeding the 28% growth in reported profit. Geely defines this profit as a non-HKFRS financial measure that excludes the effects of after-tax net foreign-exchange gains or losses and impairment losses on non-financial assets. Investors therefore have two different measures to consider: reported profit, which fell short of Bloomberg’s estimate, and adjusted profit, which posted faster year-on-year growth. The comparison also highlights that adjusted profit’s faster growth does not change the fact that quarterly profit attributable to owners, at 4.84 billion yuan, was below the published estimate of 5.19 billion yuan. The gap between the two measures helps explain the difference in their growth rates, but does not erase the shortfall against the estimate on a reported-profit basis.

Results for the first nine months provide a broader picture than the quarter alone. Revenue for the period ended September 30, 2026, rose 13% to 272.564 billion yuan, while profit attributable to owners of the parent increased 7% to 13.928 billion yuan. By contrast, adjusted profit rose 41% to 14.896 billion yuan, growing far faster than reported profit for the period. The company said recording net foreign-exchange losses in the first nine months, instead of net foreign-exchange gains in the same period a year earlier, contributed to adjusted profit growing faster than reported profit. The cumulative figures show a similar divergence between the two measures, with a larger gap in their growth rates than the increase recorded in profit attributable to owners.

Geely’s revenue in the first half of 2026 had risen 15% to 173.6 billion yuan, while profit attributable to owners of the parent fell 2% to 9.091 billion yuan and adjusted profit rose 46% to 9.684 billion yuan. In September, the company sold 292,168 vehicles, up 7% year on year, and year-to-date sales reached 2,235,481 vehicles, an increase of 3%. In 2025, sales totaled 3,024,567 vehicles, up 39% from the previous year and above the revised target of 3 million vehicles. These figures provide background on sales trends ahead of the third-quarter results and show differing growth rates across periods and profit measures. The prior-year results also provide a fresh comparison of sales performance with the target the company set for the following year.

Geely set its 2026 group sales target at 3.45 million vehicles, an increase of about 14% from total sales in 2025. The target follows sales of 3,024,567 vehicles in the previous year, which exceeded its revised goal of 3 million, according to its annual results. Third-quarter sales of 812,523 units, alongside cumulative sales of 2,235,481 vehicles through September, provide context for assessing the year’s trajectory against the stated target. The evidence provides no figure for fourth-quarter sales or a later date for updating the target, so the available figures remain the company’s stated annual target and sales recorded through September. Comparing revenue, profit and sales growth remains central to reading the period’s results against this target.