Geely Automobile Holdings released its 2026 interim results on Monday evening, reporting total revenue of RMB 173.6 billion for the first half of the year, a 15% increase year-on-year. Core net profit attributable to shareholders reached RMB 9.68 billion, surging 46% from the same period last year. The company also announced management adjustments aimed at further refining its professional manager authorization and operating mechanism.

At the 2026 interim results briefing, Geely's management team addressed questions regarding the financial performance and organizational restructuring.

Regarding the H1 results: impressive but with significant room for improvement

The financial report shows that Geely Auto achieved simultaneous improvements in both operational scale and profitability during the first half of this year. This progress is closely tied to the efficiency gains driven by the "One Geely" strategy. Administrative expenses as a percentage of revenue decreased by 0.2 percentage points year-on-year to 1.7%, while R&D investment ratio fell 0.3 percentage points to 5.2%. Selling expense ratio remained flat compared to the same period in 2025, supported by continued overseas market expansion.

Geely Auto's Vice Chairman and Executive Director Gui Shengyue stated that this is, first and foremost, an expected financial report. "In recent years' briefings, I have consistently said that in the foreseeable future, Geely's sales volume and profits will likely hit record highs," he said. In the first half of this year, the company's sales scale, revenue, profit, average selling price per vehicle, and profit per vehicle all reached historic peaks. "So this is an anticipated financial report."

Secondly, it is an impressive financial report. The Chinese auto market witnessed intense competition in the first half of this year, with many companies operating at a loss. According to data from the China Association of Automobile Manufacturers, the average profit margin in China's auto industry was only 1.6% during this period. Against this backdrop, Geely Auto achieved core net profit attributable to shareholders of nearly RMB 10 billion, with a core net profit margin of 5.6%, positioning the company at the forefront of the industry. "In this sense, this is also a standout financial report."

Thirdly, "although this financial report is impressive, it has not yet reached an astonishing level." Gui Shengyue pointed out that China's auto industry faced its most severe conditions in recent years during the first half of 2026, with domestic total sales declining by double digits year-on-year, soaring chip and bulk raw material prices, and exceptionally fierce competition among automakers. While the company achieved growth in both sales and profit against this headwind, the momentum in the domestic market was still affected by the broader environment.

Fourthly, this is also a financial report that is sustainable over the long term and holds tremendous room for improvement. Competition in the modern automotive industry is no longer about a single product dimension; it is a comprehensive contest of a company's system capabilities, strategic focus, and long-term value creation ability. "Through years of accumulation and development, Geely Auto has essentially built these capabilities."

Regarding organizational adjustments: shifting toward reliance on organizational systems and talent pipelines

Alongside the financial results, Geely Auto announced management changes effective August 18, 2026. An Conghui will succeed Li Shufu as Chairman of the Board of Geely Automobile Holdings, Gui Shengyue has been appointed Vice Chairman of the Board while continuing as Executive Director, and Gan Jiayue has been appointed Chief Executive Officer of Geely Automobile Holdings.

Commenting on these personnel changes, Gui Shengyue stated that this marks Geely Auto's transition from a founder-driven entrepreneurial and development phase to a maturity phase driven by systems and teams. The company is moving from reliance on individual charisma and authority toward dependence on organizational systems and talent pipelines, signifying more transparent corporate governance, more professional decision-making, and more scientific management. For internal talent, it also signals that career ceilings have been lifted.

He further noted that Geely Auto will be the only listed company where An Conghui serves as chairman, indicating that the company will further implement the "Taizhou Declaration" and the "One Geely" strategy, strengthening Geely Auto and delivering greater returns to shareholders.

Notably, Li Shufu also delivered a video address at the briefing. He stated that Geely has entered a new level of development, with the "One Geely" strategy playing a pivotal role. To better leverage professional talent and build a professionalized team, he decided to recommend An Conghui as Chairman of the Board of Geely Automobile Holdings. "An Conghui is an outstanding professional cultivated within the Geely system. Talent is rare—he possesses both moral integrity and professional competence, excellent character and academics, unwavering dedication, and extraordinary willpower. He is a core pillar of Geely's automotive business. I have full confidence in Geely Automobile Holdings' performance under An Conghui's chairmanship," Li Shufu said.

At the briefing, An Conghui outlined Geely Auto's next strategic priorities. He indicated that the next phase will involve further deepening the "One Geely" approach, continuously optimizing business and resource allocation, reducing unnecessary internal transactions and redundant construction, and driving the expansion of strategically valuable business segments. Additionally, the company aims to develop overseas markets into a key growth engine for Geely Auto.

Based on H1 overseas performance, Geely Auto has raised its 2026 overseas sales target from 640,000 units to 920,000 units, with an ambition to reach annual sales of 1 million units. An Conghui stated that Geely Auto's long-term strategy is to derive two-thirds of its sales from overseas markets. Achieving this overseas goal requires establishing localized production. In the first half of this year, Geely Auto collaborated with overseas partners including Volvo, Proton, Renault, and Ford, rapidly expanding its localized market presence and enhancing its ability to withstand risks.