Geely Auto First Quarter Net Income Doubles on Higher Sales [BNN Bloomberg (Canada)]
ZEEKR Intelligent Technology Holding Limited American Depositary Shares (each representing ten (10) Ordinary Shares) (ZK)
Company Research
Source: BNN Bloomberg
Net income more than doubled to 1.56 billion yuan ($215 million) in the three months ending March 31 from a year earlier. Revenue climbed 56% to 52.3 billion yuan. It's the first time Geely has reported quarterly earnings, putting it in line with sister company Zeekr Intelligent Technology Holding Ltd., which listed in the US last month. Geely sold 475,700 cars in the first three months of this year, up 50% from a year earlier. Rival BYD Co., which only sells electric vehicles and plug-in hybrids, posted sales of 624,398 cars in the same period, at a slower growth rate of 14%. Geely has set a target to sell 1.9 million vehicles this year. “Thanks to significant sales growth and continuous optimization of the product structure, the Group's revenue increased rapidly compared to the same period last year,” Geely said in a statement Friday. There were no analyst estimates due to the lack of historical data. Geely shares closed 1.2% lower in Hong Kong on Friday. The stock is up 2.4%
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News
- ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) is now covered by analysts at Citigroup Inc.. They set a "buy" rating and a $32.40 price target on the stock.MarketBeat
- ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) had its price target raised by analysts at Bank of America Co. from $35.00 to $36.00. They now have a "buy" rating on the stock.MarketBeat
- ZEEKR Reports First Quarter 2024 Unaudited Financial ResultsPR Newswire
- ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a "buy" rating and a $35.00 price target on the stock.MarketBeat
- ZEEKR Intelligent Technology Holding Limited (NYSE: ZK) is now covered by analysts at The Goldman Sachs Group, Inc.. They set a "buy" rating and a $34.00 price target on the stock.MarketBeat
ZK
Sec Filings
- 6/11/24 - Form 6-K
- 6/3/24 - Form 6-K
- 5/10/24 - Form 424B4
- ZK's page on the SEC website