This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Geely Automobile Holdings Limited Announced Annual Results For The Year Ended 31 Dec 2012

HONG KONG, March 25, 2013 /PRNewswire/ -- Geely Automobile Holdings Limited ("Geely Automobile" / "The Group") (Stock code: 175) announced the annual results for the year ended 31 December 2012. During the year, the total revenue increased by 17% to RMB24.63 billion. After accounting for non controlling interests, net profit attributable to shareholders of the Group was up 32% from RMB1.54 billion in 2011 to RMB2.04 billion in 2012. The strong operational cash flow during the year combined with the full exercise of all the warrants and the partial conversion of the convertible bonds in November 2012 had resulted in much stronger financial position of the Group with net cash of RMB1.7 billion at the end of 2012 compared with a net debt of RMB1.5 billion a year ago. The Group's Board of Directors decides to recommend payment of a final dividend of HK$0.039 per ordinary share, increased by 39% from 2011.

The Spokesmen of Geely Automobile said, "While the overall growth in the Chinese sedan market only stabilised at 6% in 2012, the recovery in our domestic sales coupled with the continued strong growth in our export sales boosted our total year-on-year sales volume growth to over 15% in 2012, compared to our original target of 9% growth."

The Group sold a total of 483,483 units of vehicles in 2012, up 15% from 2011, of which 21% or 101,908 units were sold abroad, up 157% from last year. In the Chinese market, the Group's sales volume in 2012 was flat at 381,575 units compared with 2011, as the negative growth in the Chinese market in the first eight months of 2012 was offset by the recovery of their domestic sales since September 2012. Most of the new models launched in 2012 have continued to perform well in 2013 so far and should continue to support the Group's overall sales volume growth in 2013. This, together with the additional growth contribution from exports, should allow the Group to speed up its sales growth in 2013. As a result, the Group's Board of Directors set their 2013 sales volume target at 560,000 units, up 16% from 2012.

The Spokesmen of Geely Automobile concluded, "Looking forward, the Group plans to offer automatic transmissions in most of its major models, thus enhancing the attractiveness of its products, and continues to replace its older models with more sophisticated new models with more advanced powertrain technologies. Further, more new SUV models and the first MPV model are scheduled to be launched in the near future, further broadening the Group's product range."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.43 -0.20%
FB $118.36 0.25%
GOOG $700.44 0.68%
TSLA $213.31 -4.20%
YHOO $37.09 3.00%


Chart of I:DJI
DOW 17,697.25 +45.99 0.26%
S&P 500 2,055.71 +4.59 0.22%
NASDAQ 4,733.79 +8.1510 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs