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Geely Automobile profit misses consensus by 22.7% in H1

Geely Automobile Holdings Ltd. said its normalized net income for the first half amounted to 36 fen per share, compared with the S&P Capital IQ consensus estimate of 47 fen per share.

EPS increased 119.7% year over year from 16 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.28 billion yuan, a gain of 127.2% from 1.44 billion yuan in the year-earlier period.

Total revenue grew 117.9% on an annual basis to 39.42 billion yuan from 18.09 billion yuan, and total operating expenses grew 111.7% on an annual basis to 34.80 billion yuan from 16.44 billion yuan.

Reported net income increased 127.8% from the prior-year period to 4.34 billion yuan, or 48 fen per share, from 1.91 billion yuan, or 22 fen per share.

As of Aug. 23, US$1 was equivalent to 6.66 yuan.