Sales increased, stock plummet

Like
Comment
Favorite

Yee97
2024-07-02

Sales increased, stock plummet. Rubbish company

BREAKINGVIEWS-Geely looks ready to ride tariffs storm

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Katrina Hamlin HONG KONG, July 2 (Reuters Breakingviews) - Geely Auto is motoring along nicely at jus

BREAKINGVIEWS-Geely looks ready to ride tariffs storm

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

Top
Latest

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":323037738860744,"tweetId":"323037738860744","gmtCreate":1719897122907,"gmtModify":1719898777892,"author":{"id":3553374749042728,"idStr":"3553374749042728","authorId":3553374749042728,"authorIdStr":"3553374749042728","name":"Yee97","avatar":"https://community-static.tradeup.com/news/926d6ddbccc0af27ebe740d569c6d487","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.07.03","individualDisplayEnabled":0},"individualDisplayBadges":[],"fanSize":6,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Sales increased, stock plummet. Rubbish company&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Sales increased, stock plummet. Rubbish company&nbsp;</p></body></html>","text":"Sales increased, stock plummet. Rubbish company","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/323037738860744","repostId":2448909384,"repostType":2,"repost":{"id":"2448909384","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1719895457,"share":"https://ttm.financial/m/news/2448909384?lang=en_US&edition=fundamental","pubTime":"2024-07-02 12:44","market":"hk","language":"en","title":"BREAKINGVIEWS-Geely looks ready to ride tariffs storm","url":"https://stock-news.laohu8.com/highlight/detail?id=2448909384","media":"Reuters","summary":"(The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.)   By Katrina Hamlin      HONG KONG, July 2 (Reuters Breakingviews) - Geely Auto  is motoring along nicely at jus","content":"<html><body><p>(The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.)</p><p>   By Katrina Hamlin</p><p>      HONG KONG, July 2 (Reuters Breakingviews) - Geely Auto</p><p>  is motoring along nicely at just the right time. On Friday the $11 billion carmaker controlled by founder and Chair Li Shufu revealed that it more than doubled earnings in the first quarter to $220 million. One bump in the road is the European Union's tariffs on electric cars imported from China, which come into play on Thursday. But Li has options. The company faces additional provisional levies of 20% on top on the current 10% for its battery-powered exports to the bloc. Its parent, Volvo owner Zhejiang Geely Holdings, one of China’s largest private automakers with sales of nearly 3 million cars last year, has protested Brussels' duties. If Geely Auto continues to sell models made in China by brands such as Zeekr it will either have to accept narrower margins or charge more. However, the company can probably take the hit, or even delay European expansion. For starters, buyers are in general snapping up more Geely Auto cars. In the first three months of the year sales of its pure electric vehicles jumped by 55% and hybrids by 1000% - from a very low base - compared with the same period in 2023. While the group is investing heavily in EV brands like Zeekr, Lynk&amp;Co and Galaxy, its gas guzzlers are having a moment, too, with sales up by a third. On Monday management revised up full-year sales forecast by 5%. In addition, the carmaker holds around a third of Horse, a joint venture with Renault    that has just attracted investment from Saudi Aramco    and that sells tech for internal combustion engines rivals reduce spending on traditional motors.   Meanwhile, EU-bound EVs account for a relatively small part of both its current business and near-term growth. Overseas markets for all powertrains made up 18% of deliveries in the first three months of 2024. Perhaps two-thirds of these went to Eastern and Northern Europe, including countries outside the EU, based on last year's data.</p><p>   As policymakers in Brussels mull whether to keep the provisional tariffs, and at what level, Geely’s results are a not-so-gentle reminder that even the most global of Chinese automakers currently have relatively little to lose there.  Li will still want Geely brands to be in the EU, the world’s second-largest market for electric cars after the People's Republic. But he can afford to drive slowly. Follow @KatrinaHamlin on X</p><p>   CONTEXT NEWS</p><p>   Carmaker Geely Auto's net profit rose 119% to 1.6 billion yuan ($220 million) in the three months to the end of March, compared with a year earlier, according to a filing after market close on June 28. Sales rose 56% to 52.3 billion yuan. </p><p>   Geely Auto's Hong Kong-listed shares fell 1.4% to HK$8.67 during morning trade in Hong Kong on July 2, the first trading day following the results.</p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Geely's grew sales in the first quarter    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt; (Editing by xxx and Thomas Shum) ((For previous columns by the author, Reuters customers can click on   katrina.hamlin@thomsonreuters.com; Reuters Messaging: katrina.hamlin.thomsonreuters.com@reuters.net))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BREAKINGVIEWS-Geely looks ready to ride tariffs storm</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBREAKINGVIEWS-Geely looks ready to ride tariffs storm\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-07-02 12:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>(The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.)</p><p>   By Katrina Hamlin</p><p>      HONG KONG, July 2 (Reuters Breakingviews) - Geely Auto</p><p>  is motoring along nicely at just the right time. On Friday the $11 billion carmaker controlled by founder and Chair Li Shufu revealed that it more than doubled earnings in the first quarter to $220 million. One bump in the road is the European Union's tariffs on electric cars imported from China, which come into play on Thursday. But Li has options. The company faces additional provisional levies of 20% on top on the current 10% for its battery-powered exports to the bloc. Its parent, Volvo owner Zhejiang Geely Holdings, one of China’s largest private automakers with sales of nearly 3 million cars last year, has protested Brussels' duties. If Geely Auto continues to sell models made in China by brands such as Zeekr it will either have to accept narrower margins or charge more. However, the company can probably take the hit, or even delay European expansion. For starters, buyers are in general snapping up more Geely Auto cars. In the first three months of the year sales of its pure electric vehicles jumped by 55% and hybrids by 1000% - from a very low base - compared with the same period in 2023. While the group is investing heavily in EV brands like Zeekr, Lynk&amp;Co and Galaxy, its gas guzzlers are having a moment, too, with sales up by a third. On Monday management revised up full-year sales forecast by 5%. In addition, the carmaker holds around a third of Horse, a joint venture with Renault    that has just attracted investment from Saudi Aramco    and that sells tech for internal combustion engines rivals reduce spending on traditional motors.   Meanwhile, EU-bound EVs account for a relatively small part of both its current business and near-term growth. Overseas markets for all powertrains made up 18% of deliveries in the first three months of 2024. Perhaps two-thirds of these went to Eastern and Northern Europe, including countries outside the EU, based on last year's data.</p><p>   As policymakers in Brussels mull whether to keep the provisional tariffs, and at what level, Geely’s results are a not-so-gentle reminder that even the most global of Chinese automakers currently have relatively little to lose there.  Li will still want Geely brands to be in the EU, the world’s second-largest market for electric cars after the People's Republic. But he can afford to drive slowly. Follow @KatrinaHamlin on X</p><p>   CONTEXT NEWS</p><p>   Carmaker Geely Auto's net profit rose 119% to 1.6 billion yuan ($220 million) in the three months to the end of March, compared with a year earlier, according to a filing after market close on June 28. Sales rose 56% to 52.3 billion yuan. </p><p>   Geely Auto's Hong Kong-listed shares fell 1.4% to HK$8.67 during morning trade in Hong Kong on July 2, the first trading day following the results.</p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Geely's grew sales in the first quarter    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt; (Editing by xxx and Thomas Shum) ((For previous columns by the author, Reuters customers can click on   katrina.hamlin@thomsonreuters.com; Reuters Messaging: katrina.hamlin.thomsonreuters.com@reuters.net))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"80175":"吉利汽车-R","GELYY":"吉利汽车ADR","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK1539":"汽车股","BK1589":"北水核心资产","00175":"吉利汽车","BK1521":"挪威政府全球养老基金持仓","BK1119":"汽车制造商","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2448909384","content_text":"(The author is a Reuters Breakingviews columnist.  The opinions expressed are her own.)   By Katrina Hamlin      HONG KONG, July 2 (Reuters Breakingviews) - Geely Auto  is motoring along nicely at just the right time. On Friday the $11 billion carmaker controlled by founder and Chair Li Shufu revealed that it more than doubled earnings in the first quarter to $220 million. One bump in the road is the European Union's tariffs on electric cars imported from China, which come into play on Thursday. But Li has options. The company faces additional provisional levies of 20% on top on the current 10% for its battery-powered exports to the bloc. Its parent, Volvo owner Zhejiang Geely Holdings, one of China’s largest private automakers with sales of nearly 3 million cars last year, has protested Brussels' duties. If Geely Auto continues to sell models made in China by brands such as Zeekr it will either have to accept narrower margins or charge more. However, the company can probably take the hit, or even delay European expansion. For starters, buyers are in general snapping up more Geely Auto cars. In the first three months of the year sales of its pure electric vehicles jumped by 55% and hybrids by 1000% - from a very low base - compared with the same period in 2023. While the group is investing heavily in EV brands like Zeekr, Lynk&Co and Galaxy, its gas guzzlers are having a moment, too, with sales up by a third. On Monday management revised up full-year sales forecast by 5%. In addition, the carmaker holds around a third of Horse, a joint venture with Renault    that has just attracted investment from Saudi Aramco    and that sells tech for internal combustion engines rivals reduce spending on traditional motors.   Meanwhile, EU-bound EVs account for a relatively small part of both its current business and near-term growth. Overseas markets for all powertrains made up 18% of deliveries in the first three months of 2024. Perhaps two-thirds of these went to Eastern and Northern Europe, including countries outside the EU, based on last year's data.   As policymakers in Brussels mull whether to keep the provisional tariffs, and at what level, Geely’s results are a not-so-gentle reminder that even the most global of Chinese automakers currently have relatively little to lose there.  Li will still want Geely brands to be in the EU, the world’s second-largest market for electric cars after the People's Republic. But he can afford to drive slowly. Follow @KatrinaHamlin on X   CONTEXT NEWS   Carmaker Geely Auto's net profit rose 119% to 1.6 billion yuan ($220 million) in the three months to the end of March, compared with a year earlier, according to a filing after market close on June 28. Sales rose 56% to 52.3 billion yuan.    Geely Auto's Hong Kong-listed shares fell 1.4% to HK$8.67 during morning trade in Hong Kong on July 2, the first trading day following the results.    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Geely's grew sales in the first quarter       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by xxx and Thomas Shum) ((For previous columns by the author, Reuters customers can click on   katrina.hamlin@thomsonreuters.com; Reuters Messaging: katrina.hamlin.thomsonreuters.com@reuters.net))","news_type":1,"symbols_score_info":{"80175":0.6,"00175":0.9,"EVS.SI":0.6,"GELYY":0.6}},"isVote":1,"tweetType":1,"viewCount":2762,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":42,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}