Geely Automobile announced its latest financial report: total revenue in 2021 was 101.6 billion yuan, an increase of 10.3% year-on-year; net profit reached 4.35 billion yuan, down 22% year-on-year. In 2021, Geely Automobile led Great Wall Motors (1.28 million units) in terms of sales, winning the top spot in its own brand sales for five consecutive years; at the same time, thanks to the addition of high-premium models such as Lynk & Co 09 and JiKr 001, Geely Automobile's product structure has been improved, and the average price of bicycles has increased by 9% year-on-year to 88,000 yuan.
Specifically, Geely Automobile's annual sales reached 1.328 million units, an increase of 0.6% year-on-year; among them, the sales of new energy models increased rapidly, accounting for 6.2% of total sales, up 177.3% year-on-year; the company's total cash reached 28 billion yuan, up 46% year-on-year, a record high. However, its bicycle profit was only 3,275.6 yuan, down 22.3% year-on-year, slightly inferior to Great Wall Motors.
In 2022, Geely Automobile plans to increase the modular architecture model to 70%, and China Star will increase the proportion of Geely brand sales to 30%. By launching more intelligent and technological new products, improving the layout of the high-end intelligent electric and hybrid market, and achieving the improvement of brand premium ability and profitability, Geely will accelerate the expansion of new markets in Europe, Australia, New Zealand and South America, and jointly help achieve the annual sales target (1.65 million vehicles, including 70,000 krypton vehicles).