Latest news with #Geely Automobile
Bloomberg
18 hours ago
- Automotive
- Bloomberg
Price War Hits to China Corporate Profits Confirm Investor Fears
Two of China's corporate heavyweights Inc. and Geely Automobile Holdings Ltd. have revealed the scope of the earnings impact they're having from brutal price competition, and investors are hitting the sell button. Shares of slid as much as 4.5% in Hong Kong after the online retailer reported quarterly profit halved from a year ago. Electric-vehicle maker Geely's stock tumbled nearly 6% on a drop in net income before erasing the loss. Respective rivals fell in sympathy, and the Hang Seng China Enterprises Index sank 1.5%.
Wall Street Journal
2 days ago
- Automotive
- Wall Street Journal
Geely Automobile's First-Half Profit Fell Despite Higher Revenue
Geely Automobile's 175 -1.19%decrease; red down pointing triangle first-half net profit fell despite higher revenue as it faced stiff competition in China's auto industry. Net profit dropped 14% from a year earlier to 9.29 billion yuan, equivalent to $1.29 billion, in the first six months of 2025. Higher profit before tax led to a greater overall tax expense, which weighed on its bottom line, China's second-largest electric-vehicle maker said Thursday.
