The following is a summary of the Geely Automobile Holdings Limited (GELYF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Geely Automobile reported record annual sales exceeding targets, with a sold of 1.687 million vehicles - a 17.7% year-over-year increase.
Gross profit experienced significant growth, increasing by 31.82% from the previous year.
Revenue registered a rise of over 21% from last year.
New Energy Vehicles (NEVs) sales showed a remarkable year-over-year increase of 48%.
Business Progress:
Geely transitioned into a mainstream New Energy Vehicle (NEV) group.
Considerable year-over-year growth was reported in auto brands sales.
Geely plans to continue expanding into NEVs with the launch of three new models.
Geely strengthened its commitment towards ESG initiatives, focusing on reducing carbon emissions.
More details: GEELY AUTOMOBILE HOLDINGS LIMITED IR
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