Annual revenue of 148 billion yuan Geely Automobiles 2022 financial report
On March 21, Geely Automobile Holdings Co., Ltd. ("Geely Auto") (0175.HK) released its 2022 financial report. In the whole year of 2022, the company achieved a cumulative total sales of 1,432,988 vehicles, an increase of 8% year-on-year, and operating income of 148 billion yuan, a year-on-year increase of 45.6%, a record high; sales of new energy vehicles increased by 300%, accounting for 6.2% of sales in the same period last year Further increased to 22.9%; the proportion of export sales increased to 13.8%, an increase of 5.1 percentage points; the net profit attributable to the parent company increased by 8.5% year-on-year to RMB 5.26 billion; the financial position remained strong, and the total cash level increased by 20.4% to RMB 33.7 billion yuan, a record high.

In 2022, Geely's bicycle sales revenue will be 103,000 yuan, a year-on-year increase of 29.6%, and the average bicycle gross profit will be 17,500 yuan, a year-on-year increase of 11.1%. In 2022, the "China Star" high-end series will achieve an overall sales volume of 252,787 units, accounting for nearly 23% of the Geely (including Geometry) brand. The highest monthly sales will reach 30,000 units, and the average price of bicycles will reach 150,000 yuan. In February this year, the Geely brand's new mid-to-high-end new energy series "Geely Galaxy" was officially released.
The sales volume of Lynk & Co in 2022 will reach 180,127. As of February 2023, the cumulative total sales volume has exceeded 850,000. Its product line covers the mid-to-high-end market. . The Jikrypton brand will deliver 71,941 units in 2022, exceeding the annual target of 70,000 units. Among them, the average order value of the Jikrypton 001 exceeds 336,000 yuan. The amount reached 527,000 yuan.
In the past year, Geely Automobile continued to consolidate the new energy ecological layout of pure electric, hybrid, battery replacement, methanol and other multi-technology routes, and further accelerated technological innovation in the field of new energy intelligence. In the whole year of 2022, Geely Automobile's new energy products (including Geely, Geometry, Lynk & Co, Jikrypton, and Ruilan) sold 328,727 vehicles, a year-on-year increase of more than 300%, and the penetration rate of new energy in a single month exceeded 30% several times.
In terms of intelligent driving, Geely's "space-ground integration" three-dimensional travel technology ecology continues to evolve. The key layout of L2+ and L3 intelligent driving technologies, and the new generation of "NOA high-end intelligent driving assistance system" have been applied to Boyue L, and will be applied to the latest products of Lynk & Co and Geely in the future. In June 2022, the first nine-satellite orbit of the "Geely Future Travel Constellation" was successfully launched into orbit, and the network of 72 low-orbit satellites will be completed in the future. Space-ground integrated high-precision positioning, satellite remote sensing AI, space-based communication services and other technologies will promote Geely's continuous transformation in the field of travel.
In the field of smart cockpits, the "Dragon Eagle No. 1" chip built by Xinengine Technology, a strategic investment of Yikatong Technology, will be mass-produced in mid-2023, and Lynk & Co will be the first launch. In addition, the Galaxy N OS, a full-stack self-developed distributed operating system launched by Geely Automobile in 2023, will create a better travel experience for users.
In the field of smart cockpits, the "Dragon Eagle No. 1" chip built by Xinengine Technology, a strategic investment of Yikatong Technology, will be mass-produced in mid-2023, and Lynk & Co will be the first launch. In addition, the Galaxy N OS, a full-stack self-developed distributed operating system launched by Geely Automobile in 2023, will create a better travel experience for users.
With the continuous enrichment of Geely's overseas product matrix, Geely's competitiveness in the global market has been further enhanced. In 2022, Geely Automobile's annual export sales will be 198,242 vehicles, a year-on-year increase of 72.4%, higher than the industry's growth rate of 56.7%. Coolray (Binyue), Azkarra (Boyue PRO), and Tugella (Xingyue) occupy the forefront of market segments in various countries.
Lynk & Co steadily promotes its European and Asia-Pacific strategies, and continues to implement its global development layout. In 2022, Lynk & Co will ship 35,588 complete vehicles throughout the year, with new energy vehicles accounting for 97%. As of March 2023, Lynk & Co has opened 11 Lynk & Co experience stores in countries such as the Netherlands, Sweden, Belgium, Germany, Italy, and Spain, further expanding the territory of the "European Strategy" and realizing the normalization of vehicle exports to Europe. In November 2022, on the first anniversary of the implementation of the "Asia-Pacific Strategy", Lynk & Co has successively explored the markets of Israel and Saudi Arabia after its first stop in Kuwait. In the future, Lynk & Co will continue to explore the Gulf countries in the Middle East and land in new markets in Southeast Asia.
From product output to technology output, Geely Automobile's licensing revenue has further increased. In 2022, it will achieve a total of 1.66 billion revenue, a year-on-year increase of 29.9%, which will further support future profitability. In November 2022, Geely Automobile will complete its investment in Renault Korea Automobile, and will launch new hybrid technology and models to the Korean market. The new product will adopt the world-class CMA modular architecture developed by Geely's R&D center in Sweden, and use Geely's advanced hybrid technology. It is expected to be mass-produced in 2024. Looking ahead, Geely Automobile's annual sales target for 2023 is 1.65 million units, of which the proportion of new energy sales will double that of 2022.
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