UBGEELY@EC2611A

BYD and Geely See Stable April Sales, Boosted by Overseas Orders

BOA Securities Raises Target Price for Geely Auto

Geely Auto Repurchased 742,000 Shares

China Merchants Securities Maintains Geely Auto's Rating and Target Price

Citi Publishes Research Report and Gives Geely a Buy Rating

Geely Announces April Sales Data

Lynk & Co Announces April Sales and New Energy Vehicle Sales Share

Geely Auto Reports April Sales of 235,164 Units, 58% from New Energy Vehicles

Geely Prepares to Launch Electric Vehicle Brand in Canada

Volvo Considers Manufacturing Electric Vehicles for Geely

Geely Automobile Signs Whole Vehicle Kit and Automotive Component Purchase Agreement with LEVC

UBS Report: Geely Auto's Q1 Net Profit at 4.2 billion yuan, Neutral Rating Given

During the ASEAN Summit, Li Qiang and Anwar Jointly Inspect Proton's New Models

Geely Auto Announces Q1 2026 Earnings Report, Margin and per-Vehicle Profit Increase

Citi Maintains Buy Rating on Geely and Lists Q2 Catalysts

Geely Auto repurchased 1.694 million shares for HKD 37.8916 million

Geely Galaxy Announces Starship 7 EV All-Electric SUV

USGS: Appalachian Lithium Deposits Can Meet Demand for 130 Million Electric Vehicles

Volvo Car's First Quarter Operating Profit Dropped 16%

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Chinese EV manufacturers BYD and Geely reported stabilizing sales in April, driven by overseas orders amid domestic demand challenges. BYD sold 321,123 vehicles, a 15% year-on-year drop but a 7% increase from March, with exports reaching a record 135,098 units. Geely's sales rose slightly to 235,164 units, with exports surging 244.7%. Despite a decline in domestic EV sales and profit margins, both companies are increasing export targets and focusing on technological advancements to boost sales. Analysts remain cautious about local demand, emphasizing the need for policy stability in 2026.

- Chinese electric vehicle (EV) manufacturers, including BYD and Geely, stabilized sales in April, aided by exports and new technologies.  
- BYD sold 321,123 vehicles, a 15% drop year-on-year, but saw a nearly 7% increase from March, with overseas shipments reaching a record 135,098.  
- Despite the recovery in exports and new model launches, domestic demand remains weak, impacting profit margins, leading manufacturers to expand internationally.

SCMP

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

GEELY AUTO

BYD Company

BYD COMPANY

BYD, Geely benefit from overseas orders amid Middle East energy shock

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Chinese carmaker Zhejiang Geely Holding Group is expanding its presence in the U.S. despite political opposition. With significant investments in Volvo, Polestar, and Lotus, Geely benefits from established dealer networks and potential U.S. factory capacity. Volvo aims to increase U.S. production, while Geely's Zeekr brand is poised for U.S. market entry. Despite tariffs and regulatory challenges, some U.S. politicians express openness to foreign automakers building plants in the country, highlighting a complex landscape for Chinese automotive investments.

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GEELY AUTO-R

How Chinese carmaker Geely put roots in the U.S.

BofA Securities has raised its target price for GEELY AUTOfrom $28.4 to $29.3 and maintained a Buy rating. The company's 1Q26 revenue reached RMB83.8 billion, a 15% year-on-year increase, with sales volume at 709,000 units, up 1% YoY. The average selling price rose 18% YoY to RMB112,000, and gross margin improved to 17.5%. Management anticipates further gross margin improvement in 2Q26 due to effective cost control measures.

- GEELY AUTO reported a revenue of RMB 83.8 billion for 1Q26, a 15% year-over-year increase, as stated by BofA Securities.  
- Sales volume reached 709,000 units, with an average selling price rising 18% to RMB 112,000, while gross margin improved to 17.5%.  
- BofA Securities has raised its revenue and earnings forecasts for 2026 and 2027, increasing the target price from $28.4 to $29.3, maintaining a Buy rating.

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BofAS Adds GEELY AUTO  TP to $29.3, Lifts Earnings Forecasts

BOCOM International's report indicates that GEELY AUTOexperienced a 15% YoY revenue growth in Q1, reaching RMB83.776 billion, despite a 27% YoY decline in net profit due to foreign exchange losses. Core profit rose 31% YoY to RMB4.561 billion, alleviating earnings pressure concerns. Sales increased by 1% YoY to 709,400 units, with a gross margin of approximately 17.5%. The broker maintains a Buy rating with a target price of HKD24.21, citing overseas market growth and premium products as key drivers for earnings recovery.

- BOCOM International reported that GEELY AUTO recorded a 1Q revenue of RMB 83.776 billion, up 15% YoY, despite a 27% YoY decline in net profit due to foreign exchange losses.  
- Core profit rose 31% YoY to RMB 4.561 billion, alleviating concerns over earnings pressure, with sales increasing 1% YoY to 709,400 units.  
- The broker anticipates that overseas growth and new model launches will be key catalysts for earnings recovery, maintaining a Buy rating with a target price of HKD 24.21.

BOCOM International: GEELY AUTO  1Q Revenue Growth Outpaces Sales; Overseas and Premium Products Drive Earnings Recovery

吉利汽车

China Everbright analyst maintained a Buy rating on Geely Automobile Holdings on May 2 and set a price target of HK$27.44.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Geely Automobile Holdings has an analyst consensus of Strong Buy, with a price target consensus of HK$28.91.

- China Everbright analyst has maintained a Buy rating on Geely Automobile Holdings, setting a price target of HK$27.44.  
- The analyst consensus for Geely is Strong Buy, with a price target consensus of HK$28.91.  
- This positive outlook suggests strong confidence in the company's performance in the market.

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China Everbright Reaffirms Their Buy Rating on Geely Automobile Holdings (GELYF)

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GEELY AUTO reported flat total vehicle sales of 235,164 units in April, with a 1% increase in cumulative sales to approximately 944,500 units for the first four months. ZEEKR's sales surged 132% YoY to 31,787 units, totaling 108,800 units for the year, a 97% increase. Proton's sales rose 29% YoY to 17,392 vehicles, with cumulative sales of 62,093 vehicles, up about 21%.

- GEELY AUTO reported total vehicle sales of 235,164 units in April, remaining flat year-over-year, with cumulative sales of approximately 944,500 units for the first four months, showing a 1% increase.  
- ZEEKR's sales reached 31,787 units in April, a 132% year-over-year increase, with year-to-date sales at 108,800 units, up 97%.  
- Proton achieved sales of 17,392 vehicles in April, marking a 29% increase year-over-year, and cumulative sales of 62,093 vehicles for the first four months, up about 21%.

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GEELY AUTO  Apr Total Vehicle Sales Flat YoY; 4M Sales Up 1%

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The U.S. is attempting to block Chinese-made cars, but they are already accessible to American consumers, particularly through dealerships in Mexico. Brands like BYD and Geely offer competitively priced vehicles, raising concerns among U.S. policymakers about data security and domestic competitiveness. Despite proposed tariffs and restrictions, Chinese vehicles are entering the U.S. market indirectly. The growing presence of affordable Chinese automakers poses a challenge to traditional U.S. car manufacturers, as many American buyers seek cheaper alternatives amid rising new car prices.

- Chinese automakers are expanding rapidly in Mexico, offering competitively priced vehicles just south of the U.S. border, making them accessible to American consumers.  
- U.S. policymakers are proposing tariffs and restrictions to limit Chinese auto imports, driven by concerns about national security, data security, and the competitiveness of domestic manufacturers.  
- Despite these efforts, Chinese vehicles are already entering the U.S. market indirectly, with their presence growing as demand for affordable cars increases among American buyers.

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The U.S. Wants To Ban Chinese Cars, But They're Already At The Gate

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In April, there was a noticeable increase in deliveries for BYD, Geely, Leap, and Xiaomi as the auto industry continues to introduce new models. On the other hand, Li Auto and Nio experienced a decline in sales during the same period. This surge in sales was observed among Tesla's competitors, with BYD, Geely, and Xiaomi showing positive growth trends, while Li Auto and Nio faced a decline.

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Tesla Rivals BYD, Geely, Xiaomi See Sales Bump. These China EV Makers Decline.

Geely's April sales saw a slight increase of 0.45% year-on-year, totaling 235,164 vehicles, driven by a record 83,186 overseas sales, up 244.70%. However, domestic sales fell 27.62% to 151,978 vehicles. The premium brand Zeekr achieved a record delivery of 31,787 vehicles, while the Geely Galaxy brand continued to decline. For the January-April period, total sales reached 944,522 vehicles, with exports surging 150.87%. Geely's core profit rose 31% excluding foreign exchange impacts, highlighting the importance of exports amid domestic market challenges.

- Geely experienced a significant increase in overseas sales, surging 244.70% year-on-year in April, while domestic sales fell by 27.62%.  
- The company achieved total sales of 235,164 vehicles in April, with a notable contribution from its premium brand Zeekr, which delivered a record 31,787 vehicles, up 131.57% year-on-year.  
- Despite the decline in domestic sales, Geely's exports and NEV sales showed resilience, with overseas exports up 150.87% year-on-year during the January-to-April period, highlighting the company's strategic shift amid domestic market challenges.

CnEVPost

Geely April sales edge up as record exports offset domestic slump

Zeekr achieved record deliveries in April, with a 132% year-on-year increase to 31,787 units. The 9X hybrid SUV led sales, surpassing 10,000 units, while the newly launched 8X contributed nearly 3,500 units in just 13 days. Total deliveries for the first four months reached 108,824 units, up 97.4% year-on-year. Zeekr plans to expand its market presence, with the 9X set to enter the Middle East in June and Europe by Q4. The brand maintains a high average transaction price, nearing 350,000 yuan per vehicle.

- Zeekr delivered a record 31,787 vehicles in April 2026, marking a 132% increase year-on-year, driven by the successful performance of the 9X hybrid SUV and new 8X model.  
- Cumulative deliveries reached 751,713 units, with April sales significantly increasing both year-on-year and month-on-month, pushing totals for the first four months of the year to 108,824 units.  
- The company plans to expand into international markets, with the 9X set to launch in the Middle East in June and Europe by Q4 2026.

Zeekr April deliveries hit record high as 9X remains strong

Citi has maintained a Buy rating on Geely Automobile Holdings (GELYF) with a price target of HK$30.00, while the shares closed at HK$22.34. The analyst consensus for the stock is Strong Buy, with a target of HK$28.51, indicating a potential upside of 27.63%. Additionally, DBS also reaffirmed a Buy rating with a price target of HK$28.00.

- Citi maintained a Buy rating on Geely Automobile Holdings, setting a price target of HK$30.00.  
- The company's shares closed at HK$22.34, with an analyst consensus of Strong Buy and a price target consensus of HK$28.51, indicating a 27.63% potential upside.  
- Additionally, DBS also rated the stock as Buy, with a price target of HK$28.00.

Citigroup

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Geely Automobile Holdings (GELYF) Gets a Buy from Citi

Geely is preparing to enter the Canadian market by posting job openings for senior leadership roles in Toronto, focusing on launching its EV brand. The roles include Head of Sales, Marketing, and Network Development, indicating a full-scale operation rather than a soft entry. This move follows Canada's reduction of tariffs on Chinese EVs, allowing Geely to compete effectively. The company aims to launch before year-end, with a potential lineup of affordable sedans, SUVs, and hybrids. Geely faces competition from other Chinese automakers like BYD and Chery, but benefits from its existing presence through Volvo and Polestar.

- Geely is preparing to enter the Canadian market by posting senior leadership roles linked to launching its brand, focusing on its electric vehicle (EV) lineup.  
- The roles indicate a full-scale operation, with responsibilities that include dealer network management, marketing, and product planning, suggesting a coordinated launch strategy.  
- Following Canada’s tariff reduction on Chinese EVs, Geely aims to compete in the growing Canadian market, where it benefits from existing knowledge of local regulations through its sister brands, Volvo and Polestar.

Drive Tesla Canada

CHERY AUTO

Geely preparing Canadian launch with major hiring push in Toronto

Chinese automakers BYD and Geely reported significant foreign exchange losses in Q1 due to a stronger yuan, with BYD losing over CNY2 billion (USD276 million) and Geely nearly CNY500 million (USD69 million). Geely's net profit fell 27% to CNY4.2 billion, primarily due to these forex losses. Experts suggest increased hedging and localization strategies to mitigate currency risks. Geely plans to enhance its hedging ratio and promote yuan settlements in Southeast Asia and the Middle East, while also accelerating overseas factory construction.

- Chinese automakers, including BYD and Geely, reported significant foreign exchange losses in the first quarter due to a stronger yuan, with BYD losing over CNY 2 billion and Geely nearly CNY 500 million.  
- The shift in exchange rates negatively affected profits, prompting companies to consider increased hedging strategies and the localization of operations to mitigate currency risks.  
- Industry experts recommend enhancing hedging ratios and local sourcing to align revenue and expenses with local currencies to reduce exposure to exchange rate fluctuations.

UBGEELY@EC2611A(27869.HK)

BYD, Geely benefit from overseas orders amid Middle East energy shock

How Chinese carmaker Geely put roots in the U.S.

BofAS Adds GEELY AUTO TP to $29.3, Lifts Earnings Forecasts

BOCOM International: GEELY AUTO 1Q Revenue Growth Outpaces Sales; Overseas and Premium Products Drive Earnings Recovery