Mar 23 - Geely’s Net Profits Increased by 13% YoY to CNY 1.54 Billion in 2011

Source: Hong Kong Stock Exchange, ChinaScope Financial (Data)

+       The annual report of Geely Automobile Holdings Ltd. (175.HK) reveals that total revenue for the group was CNY 21 billion in 2011, up 4% year-on-year, and net profit was CNY 1.54 billion, a 13% year-on-year increase.

+       Geely sold 421,600 vehicles last year, a 1% YoY growth, and export volume increased 93% YoY to 39,600 vehicles.

+       Geely’s 2012 sales target is 460,000 vehicles, a 9% YoY sales volume increase.

Geely’s revenue growth in 11H2 was negative, resulting in an annual growth rate of 4%. Gross margins were stable in 2011.

Overseas markets rebounded strongly, while domestic market revenue growth in 2011 was negative.

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n  Geely’s Net Profits Increased by 13% YoY to CNY 1.54 Billion in 2011

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