Distinguished investors, dear friends from the media, good afternoon. Thank you very much for coming to Geely Automobile Holdings Limited 2025 annual result announcement.
I am Zhao Yang. I am the host for today's event. Please allow me to introduce you to the executives of Geely Holding Group. They are CEO of Geely Holding Group, Mr. An Conghui, CEO of Geely Automobile Group and Executive Director of Geely Automobile Holdings Limited, Mr. Gui Shengyue, Executive Director of Geely Automobile Holdings, Mr. Gan Jiayue, Executive Director of Geely Automobile Holdings, Mr. Mao Jian Ming, and CFO of Geely Automobile Group, Dai Yong. Today, we are very honored to have the independent directors and also the friends, also media, Madam Zhao Jie. I here also would like to mention that we also have a Senior Executive Director, Mr. Hong Shaolun, and many investors are very familiar with him.
Given Lawrence has been retired, we have Mao Jian Ming, our new executive director. We hope that you will support Mr. Mao's work as well. Thank you. In this very beautiful spring, Geely Automobile will continue to focus on the two drivers. One is the scientific technology and also more products. In today's event, there will be three sessions. First session, Mr. Dai will present you the performance and outlook of Geely Automobile. Then there will be a Q&A section, which will open the floor for the on-site and online investors. Now we would like to invite Mr. Dai to share with us the performance of Geely Automobile in 2025. Dear investors, friends from the media, good afternoon. Welcome to attend Geely Automobile Holdings' 2025 annual result announcement. Now I would like to present you the performance.
2025 marks a year of high-quality development for Geely Auto. Under the strategy of one Geely, we fully advanced brand integration, technology synergy, product renewal, and accelerated globalization, achieving breakthroughs in sales volume, market share, and revenue, and profit. The total sales volume reached 3.025 million units, exceeding the 3 million milestones with a year-on-year growth of 39%, and market share increased to 10.05%, year-on-year 27%. That is a new record high for the four years. The total revenue reached RMB 345.2 million, with a year-on-year growth of 25%. We could see the core net profit attributable to shareholders amounted to RMB 14.41 billion, up 36% year-on-year. That is a significant profitability improvement. In 2024, we announced that the net profit attributable to shareholders was RMB 8.5 billion.
However, we actually acquired Lynk & Co in February 2025, and Lynk & Co's number has been consolidated into our financial statements. To ensure the comparability, we restated 2024 financial data with its net profit attributable to the shareholders, which made it to 10.6%. Here we can see that with that two figures, we could see that our net profit attributable to the shareholders in 2025 increased by 70% with the pre-restated number, and also 36% growth compared to the restated 2024 figure, RMB 10.6 billion. Here we can see that we could see for our total sales volume, that we are able to see the growth in both ICE and new energy vehicles.
So, even that industry that dropped by 4.6%, our fuel vehicles also increased by 4%, and the hybrid that sold increased by 97%, and the pure EV, the BEV, increased by 86%. When we look at the new energy vehicles, we have witnessed a growth of 90% driven by three brands. The first, that would be the Geely. Geely Galaxy, we could see that the sales volume reached 1.236 million units with a growth of 150%. Lynk & Co, that sold 228,000 units, grew by 36% year-on-year. Zeekr reached the sales of 224,000 units, and also continued to enter into the high-end luxury market, especially in the fourth quarter, because of the 9X that was a market hit. Its Q4 sales exceeded 80,000 units.
At the very same time, exports also maintained a strong momentum. In 2025, Geely Auto's total export sales reached 420,000 units, including the new energy exports, that 124,000 units. We can see that the export maintained a very good momentum even in 2026 from January to February, that our monthly export sales already exceeded 60,000 units for two consecutive years. Strong sales growth drove revenue and gross profit to record heights. In 2025, the company's total revenue reached RMB345.2 billion, with a yearly increase of 25%, and the vehicle revenue was RMB311 billion, with a year-on-year increase of 28%, and the total gross profit reached RMB57.3 billion, with a yearly increase of 25%. Amidst the fierce industry competition, the gross profit margin in 2025 remained at 16.6%, stable compared to 2024.
The gross profit margin in the second half was 16.7%, showing a steady improvement trend compared to 16.4% in the first half. Benefiting from the deepening of the One Geely strategy, the effects of brand integration, channel synergy, and resource sharing were significant, with the sales and administrative expense ratio continuing to decline. Sales expense ratio decreased to 5.9%, down 0.7 percentage points year-on-year. Administrative expense ratio decreased to 1.9%, down 17.1% year-on-year. In terms of R&D investment, brand integration drove efficient resource utilization, improving R&D investment efficiency. The total R&D investment in 2025 was RMB21.9 billion, with a yearly increase of 8.3%. R&D investment as a percentage of revenue was 6.3%, with a yearly decrease of 13.5%, indicating the optimized R&D investment efficiency.
This is the huge improvement, and the economies of scale and improved product profitability drove a significant increase in core net profit attributable to equity holder in 2025. This figure reached RMB14.41 billion, with a yearly increase of 36%, with the full commencement of the NEV profitability cycle. Per-vehicle profitability also steadily improved. In 2025, the core net profit margin attributable to the parent reached 4.3%, with an increase of 8.5 percentage points compared to the previous year. The per-vehicle profitability continued to improve in the second half of 2025. This was RMB4,801, with an increase of 1.6%. Strong business growth also brought abundant cash reserves to the company, with the total volume reaching a new high of RMB68.2 billion, with an increase of 46%. We also like to return these rewards to our shareholders.
The board proposed a dividend of HK$0.50 per share for 2025, with a yearly increase of 52%. The dividend payout ratio exceeding 30% for five consecutive years. The total proposed dividend amounted to HK$5.39 billion, a record high. This is Geely's response to the long-term trust of the shareholders and the confidence in the future sustained profitability. We will continue to enhance shareholder returns and also share the fruits of development. I would also like to share with you for the specific brands. The Zeekr brand continued its upward trajectory with a new cycle of brand ascent. With an annual sales of 224,000 units, it achieved a positive sales growth for many consecutive months, with monthly deliveries exceeding 30,000 units in December, a record high. Zeekr products cover mainstream luxury segments, top Chinese new force and luxury brands.
Zeekr 9X sales exceeded 22,000 units within three months of launch, firmly ranking the first in sales in China's CNY 500,000 level large SUV segment in November and December. Zeekr 009 remained the sales champion in China's MPV segment, priced over CNY 400,000 for two years in a row.
Right.
When we move on to Lynk & Co, we could see the sales volume reached 350,000 units, and among which new energy vehicles reached 228,000 units . The new energy mix rising to 65%. We can see the high value of the Lynk & Co could be reflected in the market, that Lynk & Co 09 accumulated over 50,000 units in the six months since it launched, ranking among China's top three full-size hybrid SUV. Lynk & Co's EM-P also exceeded 20,000 units. Move on to Galaxy. The Galaxy sales reached 1.236 million units, up by 150%. We could see it has covered the multiple segments from level A to level C. Geely, especially its Galaxy E5, has made it top 2 in China's BEV A-class SUV segment.
Galaxy M9 also ranked top 3 in China's PHEV C-class SUV segment.
When we look at the Geely Star, ICE reached the sales of 1.214 million units in 2025, also witnessed the market growth even against the industrial job of those fuel vehicles. Here we can see for Xingyue L ranked number one in China's ICE SUV segment across all brands, Boyue ranked number two in China's ICE SUV segment, Xingyue ranked number three among Chinese independent brands in China's ICE A-class segment. Geely Auto not only focus on the high-quality business growth, but also sustainable development. We have now made the five-year carbon reduction target by the end of 2025 in reducing vehicle lifecycle carbon emission by 25.5%. We pioneering that we build out a full scenario safety system, which is the human-vehicle-road-cloud satellite. This has already winning five Guinness World Records.
We not only maintained a leading market player in the industry, we also have been selected as one of the S&P Global Sustainability Yearbook, received award of the best progressing company in the industry. In 2026, we will further focus on the value of the driven by value, that technology and globalization. We have a sales volume target, which is at 3.45 million. By now, Geely Auto has ranked number one in China's passenger vehicle sales for two consecutive years in 2026. We believe we are able to make more achievements that in segment. Zeekr brand sales target for 2026 is 300,000 units, a yearly increase of 34%, Zeekr 7X and Zeekr 9X Glory Edition will be launched within the year, expanding the luxury product matrix.
Leading brand value enhancement will be in the luxury experience and the new super electric hybrid, high-performance luxury SUV. Zeekr 7X is the world's first full-stack 900 V hybrid high voltage architecture equipped with the tri-motor hybrid megawatt electric drive, and the industry's first four-class HaoHan AI digital chassis hailed as the new king of the road. On March 16th, our Zeekr 8X was officially launched. The pre-sales started at the same time with orders over 10,000 units within 30 minutes. The Lynk & Co brand sales target for this year is 400,000 units with a yearly increase of 14%. This year, the Lynk & Co 07 Dragon version and also the mid-to-large SUV will also be launched. Geely Galaxy sales target for this year is 1.55 million units, a yearly increase of 25%.
Through creating hit models seeking growth, we will improve the product matrix and also cover the full category in the mainstream new energy market. Geely China Star sales target for this year is 1.2 million units. Based on the number one sales position among China's own brand fuel vehicles, it will strive to become number one among all brands in China's fuel vehicle market. The new generation HEV technology will also be released soon with fuel consumption per 100 kilometers entering the three-liter area. As for the export, the sales target for this year is 640,000 units with a yearly increase of over 50%. The export will accelerate in this year. Since the beginning of this year, the monthly export sales has exceeded 60,000 units for the two consecutive months.
We focus on overseas markets building 350,000 units market in Europe, Eastern Europe, and ASEAN, as well as 2 100,000 units market in LATAM, as well as Middle East and Asia Pacific. We will continue to diversify our global footprint. In terms of technology, we will accelerate AI adoption, empowering product intelligent experience as well as the breakthrough improvement. The G-ASD empowered by the WAM, World Action Model, will achieve multiple breakthroughs. G-ASD H9 will achieve a L3 mass production. Robotaxi will also achieve large-scale pilot operation. G-Pilot intelligent driving has also become the first Chinese auto company's intelligent driving solution to pass EU regulatory framework, and will also go global within the year. Super Eva intelligent life form will continue to upgrade, bringing leading experiences.
Dear friends, we deliver high-quality development with one Geely as the core, characterized by synergy, efficiency, and a healthy sustainability last year. In 2026, we will continue to commit to our beliefs, deepen the one Geely strategy for the goal of becoming the global leader in smart vehicles. That concludes my presentation. Thank you.
Now I would like to invite Mr. Gui to give us a speech.
Thank you very much. Thanks all of our investors attending the annual result announcement on site and online. Thank you very much for your support for Geely Automobile all the years. I still remember two and a half years ago that on this result announcement meeting, I have already reported to you that the Geely Automobile have already deployed its framework to made it to fully intelligent and to set on the new race track of new energy.
I am so proud here today. I have already lived up my promise that I made two and a half years ago. When we look at the results of 2025, our new energy vehicles already made it to top 2 across China. Being top 2 in China, that means they are being top 2 in the global market. When we look at about the new energy vehicles markets, I think there are two distinctive features. The first one, that is the growth is fast. When you read some data from the financial reports, you could see just with one year, we are able to made it to 1.2 million units. The growth rate is very fast. That is one of the feature of Geely.
Another feature that is for those luxury and high-end, and also the mass market, we have different products. We are able to have MPV, SUV, and also the Emgrand, and also Peacock Shop. We believe this wide range of the product matrix could make Geely very special in the new energy vehicle market in China. Why Geely is capable of making such a result? I think there are two reasons behind that. The first reason, along with the development of the new energy vehicles, we could see there would be actually some similarities of those three electrical systems, which are the model and also the electronic gadgets and also the batteries. It is very important. For Geely, we have already accumulated years of making cars, especially making fuel cars. We have already made a very solid foundation.
Because in the fuel car era, Geely actually was one of the biggest market players of Chinese brands. We are able to put all of those, the accumulated experience, to become a competitive edge nowadays. Another reason for the rapid growth of Geely, I think that's because we have a mature group of consumers. When consumers their fashioners or their interest in new energy vehicles fade away, they really think about the KPIs and also the features of the automobile. They favor the products of Geely Automobile. Especially in the luxury end, Geely's brands and Geely's capabilities really outperformed other players. I think that's the two major reasons why Geely is capable of making such a result in 2025.
Apart from the sales volume and sales revenue and financial data, I also would like to summarize what we have done in 2025, especially some of the milestones. From my perspective, there would be five perspective of works that have been done, which will benefit to the future development. The first one is the safety. Safety is undoubtedly to be the most important part for automobile, especially in the era of intelligence and new energy. As we all know that Chinese, the new energy vehicles, developed super fast. Sometimes some of the vehicle brands will have a very ego pursuit of a faster development. The different brands just would like to sell the vehicles out, they focus on about the marketing of the new energy vehicles. Those kind of the marketing sometimes could be misleading.
Sometimes people were so surprised that why Chinese market is so competitive. Because some of the brands or some of the market players just rely to lower the cost, which means they actually reduce some of the investment on the safety. Even under such a competitive and complicated environment, Geely Automobile, we still maintain a clear mind. We truly believe safety is the most important part for automobile. Safety is the non-negotiable bottom line. In 2025, we established the largest global automotive safety center, such a safety center is capable of satisfying the testing demands for global markets. Such a testing criteria could be satisfied to all different markets' rules.
In such a safety center in Geely, no matter what is the price tag of a vehicle, maybe tens of thousands or millions of luxury brands, or be it a few vehicles or new energy vehicles, every single car that made by Geely must be tested under very harsh standards. The reason why we established such a safety center, I think this is one of the reflects of our long-term spirit. We also believe that safety is one of the rights should be enjoyed by every consumers. We should take on the responsibilities to protect our user and our consumers' life. That's the first big thing that we found in 2025.
We also prepare some of the manual for you, for you to have more information about our safety center. I also would like to invite you, at any time, you are welcome to visit the safety center of Geely Automobile. This is the first thing I would like to mention to you. The second thing, that is the intelligence development. When we talk about intelligent technologies, we could just review the history. In the year of 2021, we made resolute decision that we are going to transfer to new energy vehicles. At that time, we were so clear that intelligence is the future of automobile. Therefore, in 2021, we have already established new frontier intelligent computing center.
From 2021 to 2025, over the past five years, we have already made improvement in terms of intelligence, starting from the strategic deployed phase to the phase of value harvest. So we focus on the big data and also foundation model and large scale of computing power. Based on that, we did another big thing, that is under the strategy of intelligence, we have completed our collaboration with Qianli Technology. With such a integration, we are able to apply AI for our entire domain. That means AI is now applied and also powers our whole system application, starting from the product development and to the framework adjustment and the vehicle operation and co-pilots. But for Geely Automobile, AI is not only a smart or intelligent cockpit, it is actually one of the physical application of AI on vehicles.
That means starting from the design stage, we make full use of AI. During the process of driving such a vehicle, with this AI cloud power, we are able to ensure the Geely vehicles is always driving with the strongest momentum and also the lowest fuel consumption or the safest way of driving. So I think in terms of intelligence, besides that, I actually emphasize the concept of AI many, many times. I think you could compare Geely's AI concept and application with other brands. I think the intelligence of AI should not be limited in a smart cockpit or the co-pilot. What we are doing in Geely, that is, we already applied AI into the full life cycle of the whole vehicles.
In the recent financial report, we also mentioned the Qianli system and also just mentioned the G-ASD system has been already recognized by the EU. So that means that product will be exported for overseas markets. There was also a news, that in the NVIDIA conference, the founder, Jensen Huang, he made a 2 and a half hours speech. He also showed the AI physical application, and he used Geely Automobile to show the presentation.
So we can see that there is the partnership between the NVIDIA as well as Geely, and we also believe that the partnership between the two parties will also contribute to the intelligence development of Geely.
As for intelligence, years ago, we have a lot of discussion centering on it. Some argue that the smart cockpit of Geely has a lot of disadvantages. In the past two years, with the application of Flyme Auto and also other application, we can see that a lot of the disadvantages have been removed because of this application. Also the intelligent driving, maybe we still have a gap with our competitors. I should say that last year, we have already made the huge progress in terms of the intelligent driving, which can be showed in the Zeekr X. It is also costly, and so far, the sales volume is quite limited.
As for the Geely Automobile, its intelligent driving, maybe you are not having a full picture, but I believe that with different solutions for the intelligent driving covering full category of our automobile, I believe that you will have a better understanding about intelligent driving. Just now I have shared a lot of information about intelligence, about the safety, et cetera. I would like to highlight that the progress made by Geely in terms of the intelligence. We can see that the strategy unfolded by Geely has been very important. For example, the XingJue computing power has been a big contributor. Also, we have also had a partnership with Qianli Technology. This is also one of the contributor. We believe that the partnership contribute to the progress that we have made in terms of intelligence.
Today, I am also happy to share with you the prospects, that is with the efforts with Qianli Technology. So far, the autonomous driving of Geely Automobile may also on par with that of Tesla of FSD. If we can reach that level, we believe that the intelligent driving of Geely Automobile will also have a lot of cutting-edge in this field. On that basis, in the coming two years, we are also going to build the L4-based autonomous driving system, as well as the interactive cockpit system. In the coming five years, as shown on our slides, we would like to be the global leader for the smart vehicles. This is what we have done in the past one year. Just now, I have shared some highlights of our progress with you.
Next, I would like to cover Geely Automobile's development in the luxury segment. In the era of ICE vehicles, Geely has also make the breakthrough with Lynk & Co brand, and also enter the mid and high-end market. The breakthrough of the Lynk & Co has already embodied the capabilities of making luxury vehicles of Geely.
Also since 2021, with the leadership of Mr. An, we have also entered the luxury segment with the brand of Zeekr. As shown on our slide, Zeekr 009 has also been tested by the market in the past few years, and so far, it has also become the flagship product of the luxury MPV. Now we gathered here in Hong Kong. We can see Hong Kong is home to a lot of the luxury vehicles, and 009 have made a lot of presence in the Hong Kong market.
The success of the MPV Zeekr 009 has also showcased our capabilities and progress. Last year, on the basis of the successful launch of Zeekr 009, in the last quarter of last year, we also rolled out Zeekr 9X. So far, in the China SUV market, we can see that the sensation has been aroused. As for the success of Zeekr 9X, undoubtedly, we can see that it is attributable to the comprehensive capabilities of making vehicles of Geely Automobile Corporation. As for the Zeekr 9X, it has been equipped with the unparalleled driving system. That is the Shuke hybrid system. That is the highlight. I can also say that it just redefined the hybrid system for the NEV. If you would like to reach that level, you cannot just make the improvement at the motor system.
Rather, you must also be supported with other systems. The motor system, the driving system, they need to have very good integration. As for the Silver Hybrid system, what kind of features does it have? We have already shared information in our brochure. You can just read the brochure for more details. Of course, you can also give us the feedback after you reading the materials.
As for this new technology, we can see Geely has made a lot of progress in terms of intelligence and also in NEV segment. We have already built our moat in our technology field. We also believe that we can just adopt more technologies to consolidate our strength in the NEV in order to enhance our competitiveness. Of course, Geely, in terms of the success in luxury segment, we are also going to have other snowball effects.
The first one is the product matrix will also be improved further. On the other hand, with the launch of more luxury models, we also believe that the profitability will also be driven up over Geely. This is the third aspect related to the luxury segment. The next aspect that I would like to share with you is that last year, we also had the synergy.
Last year, we just had the privatization of Zeekr. On May 7, we published the recommendation for the privatization. Until December 22, we completed the deal. We just combined the Hong Kong-listed company as well as the U.S. market-listed company to have the equity swap. Previously, this hasn't happened yet. It's first of its kind. We just spent over 200 days to have the equity swap, and it is fast, and we also did it perfectly.
All the shareholders show their satisfaction for this deal. I also believe that in the future, we can also deliver more. Hereby, I would also like to stress that even though this integration, this synergy is nothing new, I should say we can also consider Geely's development from a different angle. From the release of the Taizhou Declaration, in such a short span of time, from the integration of Lynk & Co and also Zeekr, we can see that amid the fierce competition in the industry, Geely Automobile can just adapt to the evolving situation rapidly and swiftly. Geely also showed its courage, determination, as well as efficiency. From this event, we can see we have fully showcased the areas that I've already mentioned, the efficiency, the determination, and also courage.
I also believe that with this, you should also boost your confidence in Geely Corporation. For this event, I just suggest you to think from this different angle. You should have confidence for the Geely's future development. Why do we have the integration and synergy? What kind of benefits can be generated? In the last year, we have three press conferences, and I also give a lot of details. Today, I will not elaborate anymore. I will not delve into it. I believe that the future financial announcement will prove the benefits that we generate. As for the fifth aspect I would like to share with you is that we would just want to diversify the energy input. Geely Automobile has stayed committed to the strategy of diversifying the energy.
Previously, we focused on ICE, then we also have the hybrid, the PHEV, BEV, et cetera. Now we just cover the full stack technology system. I believe that the full stack technology system will have a lot of cutting-edge in Chinese market or even at the world at large. We have been a benchmark in this field. As for the ICE, we also have our own features. That is, the ICE vehicles have been the smartest in the market. Also the financial announcement also mentioned that in nine years in a row, we have maintained the number one position in the market among the homemade brands. Also, our growth has also maintained number one. I also like to stress that the fifth generation methanol technology has also witnessed a huge progress. For per 1 kilometer, the cost is CNY 0.2.
Also, it can also be applied at a temperature of -40 degrees Celsius. In the northern China, it can also be well applied. Methanol can be used for the passenger vehicles or commercial vehicles. This is the unique technology adopted by Geely, and I believe that methanol will also become a very important growth point for Geely. Just now, Mr. Dai also shared with us in the financial announcement, in 2026 for the ICE vehicles, iHEV technology will also be unfolded for the ICE vehicles. With the adoption of this technology, we will just save the energy and make our vehicles smarter, deliver better performances to the vehicles.
For the ICE vehicles, we can also further enhance our competitiveness and also elevate the precision of the ICE vehicles in the market, which will also contribute to the development of a Geely company with the stable guarantee. Two years ago, I also want to mention that in quite a long time in the future, the diversification of energy will also be the cutting-edge strength of the companies. Even though it hasn't been fully proved, but still, I believe that time will prove my point of view. This is the fifth area that I would like to mention with you, that is the diversification of energy. In the interest of time, that's all I would like to summarize for what we've done in 2025, the five big things that we've done last year.
I believe you may have many questions in terms of our batteries and going global business. I think the floor is open. I will have Mr. An and Mr. Gan to answer your questions.
When we review 2025, Geely Automobile made progress. There are something we still need to do, such as the brand development, global market scale. These are the aspects we have to improve. For example, I had a lunch with Mr. Chen, Mr. Chen told me that Hong Kong is a very important marketplace. However, currently the pre-sales and also after-sales service in Hong Kong is not doing very good. These are the things that need to be improved in the near future. More work need to be done in the future.
From the globalization perspective, although Geely Automobile already made our steps to going forward, I still believe we are not exactly leading the global markets. We have to continue our efforts. Here, I also would like to share with you my mindset. I think along with what we've achieved in 2025, I could see that really put Geely Automobile's team in a very competitive, self-reliant position. We become more confident, more independent, and more mature. Why is that? Because at current stage, we have a clear development direction of what is the future we're going forward. Based on that direction, we've already built up a sound scientific ecosystem. We have the intelligence cockpit, and also the co-pilot, chips, batteries, and also the future mobility.
You see that I think there is no other automobile companies like Geely that we have a comprehensive layout. People are talking about that maybe in the future the vehicles develop so fast. That means for those vehicles under 100,000 vehicles, there will be no markets, there will be no consumers. I don't think so. People may say that in the future, everybody will use Robotaxi. I think these are the opinions or the arguments in the market.
I think for a vehicle company, in the future, we first need to have a wide range of the product mixes to satisfy the needs in the mass market and also luxury market. Between the budget of the 100 to 200,000, we also have some products could be competitive with Robotaxi. In terms of the production capability and operation ability, I believe Geely is capable to make those products to be competitive. In terms of a Robotaxi, I think that's the future direction. What I would like to emphasize that we shall not only be capable of making Robotaxi products, we shall also have the capability to operate Robotaxi. Over the years, you could see that in Geely Automobile, we have already built our own system, our ecosystem.
We also have our Cao Cao Mobility, which is also making improvements over the years. All of these efforts already made a very sound foundation for us to have a good future. That future is also based on what we have accomplished about foundation and based on the ecosystem we have been building years and years ago. Three years ago, in one of the annual result announcements, I also mentioned that we have already had our sales volume reach the historic record high. I also hope that we are able to make a new record in terms of the core benefit attributable to the shareholders. In 2025, I am so happy that we have already done that. We not only improve the sales volume, we also improve the net profit attributable to shareholders.
In the era of the new energy and intelligence, Geely Automobile has made a very good performance in 2025. I am very confident to let you know that apart from the sales volume record high in the next annual announcement meeting, our core net profit attributable to the shareholders and also the profit will be making record high as well. Thank you.
The floor is open for Q&A. We also are taking questions from online. Could you please give the mic to them? Hong Kong media. Any friends from the Hong Kong media? Because we had an announcement made in Hong Kong. Thank you. Thank you very much, Mr. Gui. I am the journalist from the South China Morning Post. It is very impressive to look at the numbers, and you also mentioned ambitious targets. My question is about going global.
Could you help us to evaluate the overseas markets? We see that many vehicle companies are also seeing a very good growth in overseas markets. Some people believe that overseas market will become a Red Sea. How do you see? How will Geely cooperate with that? Which region has the highest growth point? What is the competitive edge of Geely in facing the geopolitical risks? Thank you for asking the questions. Actually, you have mentioned two questions. The two questions you asked are of our concerns in the industry. The first one is about overseas business. Over years, Geely has deployed our overseas market. In 2025, the export of Geely Automobile actually made it to 420,000 units. For the new energy vehicles, we have already reached the sales volume of 124,000 units.
We could see that the growth already made at 240%. For us, we believe that 2025 is the year we just laid a solid foundation for overseas markets. In 2026, we will put our energy and also our resources on overseas markets to deepen our capability of production in the local markets. That means we need to export our products. We also need to build up the supply chain in the local market. That means we also need to focus on the branding and also technology export. We also will like to develop the country-specific approach and to satisfy the market demands. We can see that in 2026, our overseas market goal, which is 640,000 units, which is 50% higher than what we have sold in 2025 in overseas markets.
When we look at about the first two months of 2026, Geely already sold out 121,000 units, so we could see the momentum. I think we've already deployed a very good strategy in overseas markets. In the near future the production capabilities of the Geely will be further released to empower the overseas markets. Another one that is in overseas are Geely. We will introduce more products into the overseas markets, including Boyue, Xingyue L, Emgrand. These are the very popular products and very popular vehicles in Chinese market. We will further expand those products and those vehicles to the overseas markets. Just like Mr. Gui mentioned, next month we will have a new series of all the Chinese vehicles.
Especially for the few vehicles for ICE that we have our advantage, so we will focus on the ICE overseas services as well. Another thing is about Galaxy. The Galaxy, because our rapid vehicles development of the new energy vehicles, so we could achieve very rapid growth in overseas markets in the new energy segment. Last year we've sold out 124,000 units of the new energy vehicles with the growth of 240%. This year we will continue to focus on the new energy vehicles overseas market. We will work with some of the local productions. We believe that, like other brands, like Xingyue, will be very popular as well. Our internal target that is around 640,000 units. Actually internally, we believe that probably we are going to make it 750,000 units.
That means the growth rate for 2026, the new energy vehicles in overseas market will have a growth that nearly 80%. How about Lynk & Co? I think for Lynk & Co, we will have some synergies with the Volvo in the Europe market. In European market we also have some marketing resources. At the very same time, we hope that we are able to expand and also export Lynk & Co 01 and also Lynk & Co 02 to the European markets. Like the Zeekr, the Zeekr 7X and Zeekr 7 GT, those are also already started sales in Europe. We believe that our Zeekr will be launched in South Korea as well. We believe that for Zeekr MPV, that is also very popular in Malaysia and Singapore and also in Chinese Hong Kong.
We could see that Zeekr 009 will become one of the potential sales champion. I think when we look at about the global market, Geely will put more resources and efforts into the global and overseas markets. We already established our subsidiaries and company in Mexico and Chile. In the future, we will make full use of those sub-companies to focus on the product planning and also the branding and channel promotion, et cetera. For the channel, we believe that in next year, we will have more than 1,300 Geely brand stores. When we have more brand stores, especially for Zeekr, there will be 500 Zeekr brand stores. On top of that, for the 2026 overseas markets, another key reason that is the raw materials increasing cost.
As we all know, along with the AI development in recent two years, the memory chip will be more expensive. For Geely, we are very proactive. We are working with Samsung and also working with ChangXin and also some of the chips company in the U.S. as well.
With the strategic partnership, we can just build our strength, first of all, on the new and also fresh technologies, we can also promote it. Moreover, we can also have more competitive prices. This is our advantages. Regarding the rising cost of materials, as for the rising cost of copper as well as the lithium carbonate, we also have our countermeasures. For example, we just work together with our suppliers to lock our prices so we can also enhance the competitiveness of the products. From the cost of the product, we can also see that the economies of scale can also be a very good hedging of that. From Geely, you can see that we have a volume of over 4 million. This can help us to generate the economies of scale. This is also one of our advantages.
As for the Middle East, the current landscape will also impact the development. As for our sales, the share is quite big in Saudi Arabia. We can see that because of the stability of Saudi Arabia, the impact may be relatively small compared with other regions, because so far, we don't have any business in Iran. More questions will come. We also have a journalist from the foreign media.
On the cost side, where can we see evidence of the Taizhou Declaration efforts to improve synergies and integration?
Two years ago, we just published the Taizhou Declaration. We just proposed a synergy in five highlights, including the strategy integration and also the strategy for the stable development and also the talent. I believe that the five strategies are very important. Since last year, with the guidance of the Taizhou Declaration, as well as the reform guided by the leadership, I should say that we have made a very good achievement. Now I would like to elaborate from the following areas. First of all, for Geely Automobile, last year, we successfully completed the integration of Lynk & Co and Zeekr. This has also been very important aspect to the Taizhou Declaration. In a very short span of time, we made very good progress, as introduced by Mr. Gui and Mr. Dai.
As for the integration of the two brands, we can see that we can just orchestrate the resources under one umbrella, and also the interaction of the brands can also be enhanced. The mid and backstage can also be orchestrated. We can just pull the resources and also well allocate the resources under one umbrella. Moreover, as for the supply chain, or to be specific, the procurement system and also the manufacturing, the sales channels have also been integrated. In a sense, this has helped the enterprise to reduce the cost and also the administrative expense and improve efficiency. From today's financial announcement, I should say that the effects of the integration hasn't been fully illustrated because the integration just happened not long ago. I believe that in 2026 or beyond 2026, we may see better effects of the integration.
In 2025, Geely has delivered a high-quality development. This high-quality development has not been supported by the sales growth only. Rather, we can see that the value of the brand has also been elevated. This is the very important segment I would like to mention. For this development orientation, I should say that it just paves way for the further development for the year 2026 and also 2027. The progress in 2025 will just consolidate the foundation for further development and progress. The Geely Holding Group has highly recognized the performance delivered by Geely Automobile in last year. Just now, Mr. Gui and also Mr. Dai gave us a lot of details supported by the figures. With this trend, I should also like to mention the importance of Taizhou Declaration.
Moreover, from our company perspective, we would also like to introduce the landscape about the passenger vehicles before the conference. I also heard some ideas from the investors. Some say that the Geely Holding Group have a lot of brands. Whether it will just have the impact on Geely, I should say that there's no impact. Rather, with the interaction and the linkage, we can see that the brands of the passenger vehicles can be better integrated. Who will support each other. Apart from Geely, some also ask Geely, Lotus, Smart, as well as others. We can see that they are developing separately in the past. But after the release of the Taizhou Declaration, we continue to have the reflection about our development experiences, and also the holding company established the strategic committee.
That is, we need to just have the clear positioning of the different brands under the Geely Holding Group. We must also have the evidence-based design of the brand and the product. The procurement system must also be shared, and the manufacturing resources must also be shared. This is the strategy highlighted in the Taizhou Declaration. Moreover, the sales channels can also have the synergy. More importantly, you just also mentioned the question related to Geely's going global. As a matter of fact, the brands controlled by the Geely Holding Group, they have their own advantages, but they can also have the cooperation interaction. This also contributed to the success of going global trajectory. I would also like to give you the concrete examples.
For example, for the brands, they also share the architecture, and as for the core part, core modules, different brands can also share. As for the manufacturing resources, different brands can also share. For example, as for Geely 0175, we can see that the brand continued to develop, and the safety has also been its benchmark, and also highlight, as highlighted by Mr. Gui. With the support of Volvo, the safety of Geely may not be elevated so fast. Last year, Volvo and Geely also have the synergy or integration or partnership for the procurement with a scale of benefits of 5 billion. You may also mention the Zeekr 9X. I should say that the performance is very good. It also got the support from Lotus in terms of the collaboration in other area.
Multiple brands controlled by the Geely Holding Group, they can just form synergies. This will be the benefits for different brands. The Geely Holding Group can also generate more strength and advantages. This cannot be compared by other competitors. I should say that as a matter of fact, we have already witnessed the effect of the synergy of different brands under the Geely Holding Group. With the guidance of the Taizhou Declaration, multiple brands can have a collaboration to generate more values under one umbrella. Recently, I also read some news coverage. Before this announcement, some media also asked me some questions regarding the overseas picture. As a matter of fact, I can also share my view with you about the going global strategy in the overseas market.
First of all, you can see you have a lot of attention about the going global footprint of Geely, just like some of you have already raised the questions. As for the Geely Holding Group, it also partner with other outstanding automakers. With the partnership with them, we can just rapidly expand our global footprint. We must be swift, we must build up the scale, and we must also ensure the cost-effectiveness and also lower the investment risks. Maybe you just center on all these areas. We are also deeply aware that for an automobile company, it can never fight in silo. The risks and also pressure will be heightened by solo efforts. But we just need a partnership to have a better effect. How can we just leverage respective strengths to offset our shortcomings?
How we can partner with other outstanding automakers to enhance our respective strengths and also ensure the adequate capacity as well as the mature supply chain, as well as the talent system, as well as the quality assurance system? All these are very important, and we must also not miss the sales channels. We can partner with other leading automakers. As for Geely, we have our own advantages in the technology, the product, either in the field of intelligence or electrification or the auto architecture. We have our technology advantages, and we believe that with the synergy and the partnership with other automakers, we can achieve win-win. Just now, I share my perspective with you from the partnership with other automakers. With our collaboration, we can also expedite the growing global footprint of Geely company. We also partner with Renault.
For example, we have a joint venture in South Korea, which is developing rapidly. Last year, we also have a joint venture with Renault in Brazil. You can also see that the development trend is very good. It follow the development plan of the company. We also work together with Volvo and Renault to build the power chain company entitled HORSE Powertrain Limited. Annually, we produce 70,000 to 80,000 units of the power chain. You can imagine that this is the result that showcase the benefit generated from the economies of scale, because we can lower the cost and also have the rapid response to the global market demand. This is successful examples. Geely company has also adopted the global strategy, like we acquire Volvo and also the Proton in Malaysia, and also buy the equity from Mercedes-Benz, et cetera.
All these plan, all these deals, have contributed to the Geely's development. On the other hand, we can also enter the international market with this approach. Let me stop here. Thank you. The floor is open to investors. Could we give the mic to the one in the middle?
Dear executives. I am from the GF Securities. My name is Tong Wei. I have two questions in terms of the financial KPIs. The first one, we could see in the gross margin that we increased to 0.3% in the first four quarter. Mr. Dai, could you help me to elaborate what is the driving reasons of this gross margin improvement? For example, the raw materials increased, and how does it contribute to the gross margin? The second thing is we could see that in terms of the expense, the R&D expense actually grew by RMB 1.5 billion quarter on quarter. Could you let us know what is about in 2026 in terms of the expense of the R&D and also the capital utilization?
Thank you. Thank you very much. Actually, when we look at the fourth quarter, the gross margin, we are able to made it 16.9%, actually higher than the full year average of 16.6%. We can see in the fourth quarter that Zeekr's sales volume reached 80,000 units, accounted nearly 9.5% of our total sales volume. There were 2 points improvement of the Zeekr sales volume in the fourth quarter. Along with the 9X launched, we could see there were 22,000 units of this in high-end products. Those are high-end product sales will have reflection on our gross margin improvement. You also mentioned about the second question, that is about the bulk commodities. I think for the fourth quarter in 2025, I think there was not such a big impact.
We can see, for the complete vehicles manufacturer or supply chain manufacturer, that we will have some common experience in terms of the fluctuations of the commodities, because it's the new normal. Therefore, for the supply chain business, that there would be cartridge and hedge solution. There would be a hedge measures that are being taken. I think that it's controllable. That's my response to you about the gross margin. You also have a question about the-
I think I still need to look at about the first quarter's performance. But now is still in the mid of the March, and so I think we really need to look at about the sales volume of the 9X. Our production capability already improved and the first quarters of the 9X deliverables, that would be around 20,000 units. Therefore, I think I'm not very sure the gross margin in the first quarter will be lower than the fourth quarter in 2025. You have very detailed numbers. In terms of the R&D, I think you could see, for the fourth quarter, every quarter's R&D expense was around 400 units. When it comes to the fourth quarter, we could see the R&D expense already reached the 590 million.
You can see that some investors also mentioned that the R&D expense ratio is too low. In the 2024, that number was around 31%, and in 2025 already made it to 36%. In the fourth quarter of 2025, we already improved the utilization rate of the R&D expense. I think this is our response to the investors, and we hope that our profit is of high quality. In this year, we hope that R&D expense will maintain around 40%.
Okay. The floor is open, for some journalist who's in the backwards. Thank you. Thank you very much. I'm from the China Fund. My question is for Mr. Gan. Mr. Gan, Geely has mentioned its scientific attributes, just like Geely has already concluded its 2025 strategy.
My question is, you are going to release the next five-year strategy, what would be the key focus? Thank you for your question. In 2021, Geely launched the Smart Geely 2025 strategy. In that strategy, we mentioned one network, three systems. Three systems including the smart ecosystem, smart scientific ecosystem, and smart energy. Basically, that would be the smart energy, smart manufacturing, and smart service. Basically, focus on the chips, operations, and big data technologies. In essence, when we talk about chips, operation system, big data, which is the computing power and also the foundation model. That is the foundation of Geely AI. That means currently Geely's AI strategy is based on what we've deployed since 2021.
Because of such a correct strategy, we have huge investment in terms of the three key components, which is the batteries, electric motors, and electric control. We also invested in intelligence. As Mr. Gui mentioned, we established the new manufacturing center in 2022, and it was put into use right away, which accelerated our R&D input and R&D output and improved the efficiency. It was also open to our clients. In recent years, we also promoted AI. We focus on the full-domain AI strategy.
Full-domain AI, that is the combination of the foundation model and the vertical module. With such an integration, the full-domain AI will be applied in every part of our work. We are able to improve our R&D efficiency and also have a better control in the vehicles. In 2021, the sales volume of Geely was 1.32 million.
In 2022, it made it 1.37 million. In 2023, that was 1.64 million. In 2024, that was 2.17 million. In 2025, we can see we've already made it to 3 million. The ratio of the new energy vehicles already reached 55.8%. I think those past five years' performance have already reflected and proven our strategy that developed in 2021 was correct, and that strategy was fully implemented. How about the next five years? It's decisive for 2030 strategy. We will focus on the foundations, but the good thing is, we've already built a very solid foundation. For 2030 strategy, I think the first important focus, that would be intelligence. We have to emphasize the intelligence development, and we do believe that the automation intelligence is very important.
However, we also need to make intelligence empowered by AI to become a very important technical attributes. Also made such AI intelligence to be one of our competitive edge. In terms of our intelligence, we did and we do, and we will have more deployment in the AI and feed it to build a system or build a talent pool. For example, in the beginning of this year, we also announced some of the foundation model, for example, G-ASD. G-ASD is one of the foundation model that empowered by AI. Just like Mr. Gui mentioned, the Zeekr 9X has also used the foundation model to empower the system, to make the intelligent vehicles more like human. Secondly, we also will use AI to build the Super Eva Agent, so that the Super Eva intelligent life form is important.
That would be 1 plus 2 plus M. The full domain, that means the AI agent will function as a brand and is able to call different domain, including the driving domain, the co-pilot domain, and also the powering domain, et cetera. Those domains could be fully integrated. In this way, we are able to improve the synergy of the vehicle, and that would be the AI in power capabilities. In this way, we are able to make a vehicle of future. Another focus, that would be the high-end Geely vehicles. After 2024 announcement of the Taizhou Declaration, that we've already merged Zeekr brand, Lynk & Co brand, and Galaxy brand, and also Zhongguo Xin, which is China Heart. These are the four brands. Those four brands are falling into the different segments of the market.
It's an enriched product portfolio. We believe that such a vehicle portfolio is reasonable and comprehensive, and is capable satisfying different consumer needs. In the next five years, we will focus on the high-end development. We will make Zeekr vehicles to be the luxury technology vehicles. On the 16th of March, we officially launched X and actually already received the widely recognition from our consumers. Many of our consumers actually went to the shop and also to have a try. They truly felt great about the stability of the vehicles and also the smart cockpit. I think those technologies really satisfying our consumers. They've got very good experience. Therefore, it's just have already decide our deliverable cycles would be around 20 weeks. Be 11 or 14 weeks, maybe in the future.
Now this cycle has been shortened to 11 weeks. You can see that this also raise high requirements to our suppliers in terms of the auto parts. In the future, we also plan to shorten the cycle of the delivery from 11 weeks to 8 weeks in order to have a very good response to the needs of our consumers. Also for the X8 on March the 16th with the pre-sales, we can see that the market feedback is very good. In just within 38 minutes, the orders have surpassed 10,000 units. In less than 48 hours, the orders surpassed 30,000 units. You can see that it has been first of its kind within these markets, because these figures have also been notified by the notary officers. It is authoritative. For the 2030 strategy, we will also strengthen the globalization.
Just now, I have also shared this strategy with you. Geely will also focus on the Galaxy, Lynk & Co, as well as Zeekr for the global footprint. For the upcoming five years, we will accelerate our global footprint shift from only the export of the products for trading to cover the design, the sales, and also the localization. We would like to have the partnership with the local partners. For example, we partner with Renault as well as Proton, et cetera, in the Southeast Asia. The cooperation has been very good. For example, we partner with Proton to introduce the NEV. The sales of NEV has also been at the top list in the Southeast market. The market share has also increased from around 10% to over 25% currently.
So overall, we can see that in the future, the partnership with Proton will also help us to elevate the position in Malaysia as number 1 and also top 3 in the ASEAN market. For the 2030 agenda, we will also build the ecosystem. We believe that the importance of the software will be heightened. As for the Geely ecosystem, we have also made a lot of deployment, in particular for the Lynk & Co. We have the Lynk & Co software, Mall. We have a lot of the boutique products on the Mall. With 1 ID, we will just sell well-connected different brands and models. The consumers will just access to diversified services with just 1 single ID. The vehicle will be an integral part of our life.
As for the ecosystem, we will also strengthen the sharing in the future with the intelligent technologies or even the L4 Robotaxi, like the Cao Cao Mobility. We will also have a very good integration with it so that all the customers will also have better experiences in terms of mobility as well as the base. Last question. The lady in the second row.
Thank you. I am the analyst, Lou Jia. I have three questions. I am not sure whether time will allow. As for the questions, I have also been frequently asked by other investors. Actually, sometimes it is difficult for me to convince them. Just now, Mr. Gui mentioned that for the ecosystem deployment of Geely, it has been most complete compared with other competitors. For example, with the intelligence adoption like AI, we can see you have a lot of application.
But as for the core access, like a Robotaxi, in terms of the operation, Cao Cao Mobility has also been listed in the Hong Kong stock market. As for the intelligent driving, we can see the core software is Qianli Technology, who plans to be listed in the Hong Kong stock market. For the big Geely or the 2030 strategy, as for the one zero five, we would like to understand its unique position because the people just pay attention to the closed loop. Would you elaborate a little bit?
Thank you for your question. In the past few years, we can see investors also focus on this question. I would like to respond from the 2 perspectives. The first one is, for the ecosystem building, the purpose is to deliver the best performance of the product from Geely.
Best performance is the core of the product. Just now, at the opening remarks, I mentioned that with the partnership with Qianli Technology, we can enable the intelligent driving, or in the future, we may also reach at the DS level paralleled with Tesla. Without the partnership with Qianli Technology, we may not ensure that. You can see that in the era of AI, we believe that we just need to professional, we just need to have cooperation.
We can never develop in silo. In particular, in the development area of AI, we can never just fight in silo. Rather, we just need to pool the resources with other parties. We just need to use the strength of other parties, but we must also ensure our autonomy. First of all, we can see that in this whole process, we need to have the holistic planning.
As an automaker, we need to have the strategic plan. For example, we work together with G-Pilot. We have our unique strength. The partnership with Qianli Technology is to ensure that we can deliver the very good performance of the product to ensure our competitiveness. This is the purpose of the current stage. As for the current stage, maybe later on, other speakers will also supplement. At the very beginning, the chairman mentioned that we just need to commit to the one Geely strategy or the focus. You should not doubt that. He also mentioned that maybe in the future, at some specific stage, we may also have different pivots. But now, we just focus on the quality improvement and also make full use of the resources from the parent company without compromise the interest of the shareholders.
We would like to have the partnership to enhance our competitiveness in this way. Moreover, as for the strength of technology, although we should just come back to 0175, I believe that still we need to have integration. We just need to believe in the potential of the partnership. I wonder whether I just well responded to your question. You can see that Geely, just like what it did in the other stage when it made vehicles, first of all, it partnered with others, and then if it is profitable, you may have a different approach. I should say that as long as we understand the requirement of the shareholders, we will just follow the requirement. But first of all, we need to have the condition. We need to have the strength and the foundation.
First of all, Geely just need to sell the vehicles well and be the leader. The second question is related to the vehicle making. For example, to be specific in 2026, first of all, Geely company focused on overseas market and also the export of the vehicles is very good. Geely has also been most outstanding among the peers. The monthly export has surpassed 60,000 units monthly, and for the Galaxy, it successfully surpassed the Geely brand. For the performance in the past two months, regardless of the geopolitical risks, do you think that the goal for the 60,000 units is quite conservative? Would you also elaborate on the export target? Also, this year, we also witnessed the cutthroat competition within this industry. Last year, you also grabbed the market share from some leaders.
Also as for the competitors, they also facelift their products. They update their products. What is your countermeasures? If you will not compete at the prices, how can we also ensure that we can increase the market share? Our competitors also mentioned their products features like intelligent driving, et cetera. It seems that we are doing the similar things. How can your company stand out from the fierce competition? How can we just enhance our competitiveness in 2026 and also gain more market share? You have a lot of questions. For the export, just now, Mr. Gan has already mentioned that our target is 640,000 units, and our internal target is 750,000. I should say that this can just help us to boost the confidence.
If we can sell more, of course, we will just try our best. You can also see that every year, the target we set is quite conservative. Usually, we may just adjust the targets in the midterm. Maybe for other quite complex questions, I will just leave them to other speakers. You raised quite a few questions. I will just respond as follows. As for the intelligent driving, I may just ask something. As for the intelligent driving, I should say that input will be high in the future. It is the similar case for all companies. If we just want to pursue the perfect of intelligent driving, the input must be high.
For example, the identification or the routes or other capabilities must also be enhanced. We believe that for the autonomous driving, it must be supported or enhanced by the foundation model, the computing power, et cetera. We just need to have a huge input to improve the algorithm to ensure better performance of the intelligent driving. As for the input, we can never just be completed by just one single company. Therefore, first of all, for a company, it must have a leading position in the technology in order to stand out. Input is inevitable. Second, the company must also have the initiative and also have the autonomy. It can just continue to be the leader in the future if it can just stay competitive. That is why we just have the partnership with Qianli Technology and Qianli Haohan.
We have a stock share of 62%. What we are trying to do is to ensure the quality and also better performance of the product. We also focus on cost effectiveness. How can we ensure that the economies of scale can be one solution? Therefore, we need to build up the scale. We can just well dilute the total cost. Then we can just well accelerate the development of the autonomous driving. The second question I ask about overseas market, just like Mr. Gui mentioned that actually in the January and also the February, we could see the very good rapid development. We think that actually that is because we already had a very good new energy vehicles to market strategy deployed in 2024.
We believe that in 2026, the export of the EV, its ratio will continue to increase. For Geely, we have already developed our products for previous years, and we have already fully implemented our strategy. Therefore, we can see that we are able to have a very good product export, and we will see a rapid growth in 2026. We focus on the ASEAN country and also the East Europe, and also Latin America, Africa, and also the Middle East. Those are the very big market segments that we are targeting at. We have already exported our products in recent months, especially our cooperation with Renault in Brazil, that we are able to expand the dealers channel very quickly. We are able to sell very quickly. We also have the eMas 7 and eMas 7.
That one single vehicle could be sold out very good, outperforming several other products of other brands. For example, the Xingyuan Starwish was the champion among all of those branded vehicles. I think we have confidence in our product. The future of overseas markets is also in our product. Another one you ask about overseas market, that would be the three key components, motor, battery, and powertrains. Many investors ask us, what is our competitive edge in the motor, battery, powertrains, and what is the strategy of charging? I have to say that Geely has invested heavily on motor, battery, powertrains. As early as in 2014 or in 2013, Geely has already started its investment in LFP batteries. That's quite earlier. In Geely, that actually has come up with our short blade battery.
The short blade battery has very good performance in terms of the battery energy consumption. We also have the Aegis, which is the sealed battery, so the charging would be 12C, and that's leading the market. From the 10% of the charging to 80% of the charging only takes seven minutes. It only takes seven minutes to charge a vehicle from 10% of the power to 80%. Calculated by the full charging, it only takes nine minutes. Another very important KPI, that is safety.
We developed standards to ensure the safety. The battery energy density is the best. That is the 179 kilowatt per kilo. When we look at about the charging rate, when the charging rate is high, then the energy density should be lower. However, in Geely's battery, you can look at those specific measures, that our energy density is very good. We could look at about the weight of the vehicles, and because we all know that the weight of the vehicle itself, that will have its impact on the inertia. In terms of charging, as earlier in 2021, we focused on about the megawatt fast charging. The first charging pile using the high voltage megawatt charging pile was done by Geely. Now we also have the HaoHan, which is a G-ASD system, and we will focus on the megawatt-hour charging.
Zeekr 001 is the renewed battery. In the future, it will be able to reach to 1,500 kilowatt-hour. Technically, Geely has invested heavily in those technology development. The 3C and 6C products will be applied in the 12 of 15 automobile vehicles. We also have the charging piles. We have nearly 10,000 charging piles. Then we will have more than 50,000 charging piles. Those are the new charging piles will be installed to satisfy the demands of our drivers need to charge the vehicles. We move on the next question.
I'm from the Yicai. We can see the financial KPIs announced by the 0175 is very good, including the revenue and profit. I just checked the price of the 0175, that the pricing is around the HKD 11. I wonder what is your perspective on the market value of Geely, and is it underestimated?
Let me take this question. It is a sensitive question. In terms of compliance, executives cannot make comments on the share price. Okay, let me take this perspective. 0175 used to be on a high peak. We used to have glory pricing. As I remember, in 2015, I was with Mr. An, Mr. An focused on the new product R&D. After the Boyue vehicle was launched, I remember the share price increased from 2 to 30, just in 18 months. That is the faster red check. That is the faster check that we have experienced. Since then, we have laid a foundation. The development is there. I think the capital market is fair, so I do not see there would be a huge deviation.
Especially for Hong Kong, it is one of the world's largest financial centers. The Hong Kong market is a mature capital market. The thing is, I think people will have different views on the company in different stages. Just like I said, 175 used to stand on the peak, and also we had our glory. At the beginning of 2016, people held the expectation on the 175. However, I think the market has expectation on the 175, but people are not very sure how fast will it go in terms of profit. Nowadays, it is a different era. It is rather different from the times of the few vehicles. It is the time for the new energy and intelligent vehicles.
In Geely Automobile, people said that actually it tends to be rather conservative, just like Mr. Gui mentioned, that we had done a lot of things, but we just do not do the marketing better than other competitors. I think people need to have a better understanding about the technology attributes of Geely Automobile. I believe that once investors come to know that we have invested so heavily on the scientific part and on those, the high-tech components, people will truly understand Geely's essence. At that time, I believed the market value will be changed. I think today, the result announcement, we see the historic record high in terms of the scale and the profit. There will be new records in the coming years. I think for the company, the core is could you make a profitability?
I think we do not have concerns that much. Any other questions? Hands up in the middle. Ladies first.
Thank you. My name is Yuqian Ding . I am from the HSBC. I have two questions. Just like Mr. Gui mentioned in your speech, you have made a new record high in terms of the attributable profit. I wonder what is the profit for a single vehicle? Or what is the profit percentage? Second, our executive also mentioned about the product structure, and also we see the scale of economies. When we look at those, the internal targets, because it is ambitious. We also have corporations with suppliers, and then we also have technical development, which could absorb the increasing raw material cost. How do you see about the profit room?
I think I could take this question from a few perspectives, from the operations perspective. The first one, Geely has already formed a strategy. With the strategy of synergy and integration, we see the decline of the expenses. As example, when we see that in the first half year of 2025, the administration expense was around 70%, and the R&D, that would be 13.5%. In the future, because of the synergy strategy, we believe that cost will be lower because we will have a high efficiency. The second, I think we need to look at our BOM material, our BOM cost. The BOM cost is relying on the supply chain and including the design cost for technical. First of all, we should have leading technologies.
The second, we should have the scale up, which is the scale of economy. In terms of the scale, because in 2025, we already witness the increase in terms of volume. We are able to have a better scale. In 2024, our sales volume, that is around 2.1 million. In 2025, that would be 3 million. That is a sales volume that increased by 39%. That means for supply chain, they also increased by 39%, and those, the fixed cost, will be allocated to different parts. That means the average cost will be lower. We could share the benefit, share the profit, but also lower the cost. All of those elements will be reflected in the vehicle's competitiveness. But it is difficult for me to give you a specific figure.
I should say that we just make our product mix towards the premium segment. For example, the Zeekr X and also Zeekr 7X. You can see that we just see the benefits of the economies of scale. We talk about Zeekr X, we talk about the margin, right around 40%. In the future, from the product development, I believe that the economies of scale and also the technologies are the most important elements. The second question, I would like to talk about the intelligent driving. You talk a lot, and we can also see that the company has already just worked on that. Now the efficiency has been enhanced because with the partnership of the Geely Technology. In the era of AI, we can see a lot of the competitors, they just focus on the GPU and also the cloud.
They also step up the efforts for the R&D.
How can you just further enhance your mode? In terms of the intelligent driving, from 2026, what will be the output?
Thank you for your question. This is a very good question. Just now, Madam Lo u also asked a question. For the intelligent driving, the input has also been channeled a lot to the computing power. For example, the input for over 10,000 GPU, the input will be RMB 4 billion-RMB 5 billion. Now we also have the computing power alliance. Now we have already hit the 23.5 flops, number 1 in the market. In the future, with enhancements of the AI, we will also expand the computing power continuously. First of all, for the whole vehicle development, for the vertical models, Geely Automobile will also add on that.
As for the intelligent driving, as well as the computing power for the foundation model, will be supported by the Qianli Technology. In this way, we can just foster the synergy and also enhance the capacity in this way.
The input for the computing power, we believe that we also need to calculate the input-output ratio, because we understand in this field, we have a very long industrial chain. We can also see if we can just have the synergy within the industry chain, then we can save a lot of cost. With the synergy, we can just improve efficiency by 35%. Like we just say input RMB 10 billion-RMB 20 billion. Then every year we may just save dozens of billions every year because of the synergy, because it can just help us to lower the cost and also improve the efficiency.
Moreover, we can just attract more talents. We just need to pool the top-notch talents who are savvy at AI. Then they should be attracted to the automobile industry to give full play to their strength. In the future, we will also have such measures. With the maturity of the large models, we believe that the application will also be widespread in the application of automobile industries.
If we can just do well in the general-purpose model as well as the vertical models, we will also have a lot of benefits, and we can also lower the cost, improve efficiency. Thank you. Given time limits, we just allow the last question. I am from Black of Wall News. For the NEV, what is the target? Mr. Gui also mentioned that we are number 2 globally. Whether you also set the goal for number 1 globally?
We also read the news that Madam Dong Mingzhu bought Zeekr 009. This also caught our attention. Whether Madam Dong also enjoys some discount? Can you also share some details with us about this anecdote? The column from CCTV just talk about this anecdote, that is Madam Dong bought Zeekr 009. She said that this is very good. It is just admired effort made by Li Shufu. The column just contact me. In the new year, he said that Madam Dong would like to buy three vehicles. Then I just contact the colleague at the Zeekr. After the two sessions just concluded, Chairman Li Shufu just held a vehicle delivery ceremony in Beijing, and then the videos have been shared on the platform. Other deputies also bought Zeekr 009. Altogether in total, nine 009 vehicles have been sold.
And then some discount has been offered to her because 9 vehicles have been bought. Madam Dong really admired the effort made by Mr. Li, and also the effort made to build the premium vehicles, and also commit to the mission of building the high-quality and best performance vehicles. Also work together for the globalization. Madam Dong, just focus on the Geely air conditioners, and Geely just also build the best performance vehicles and also try to go global. Madam Dong also emphasized the quality, that is why she chose the Geely vehicles. That is why we can see that they echo each other's idea. We can see that Zeekr 009 or 9X. Who bought this type of models? We can see that the drivers are savvy and also have a lot of experiences. They understand vehicles.
I would also like to thank Madam Dong. You also talk about the targets. I would like to share my view with you. First of all, last year, China's passenger vehicles was an increase of 2.9%. As for NEV, the penetration rate is 54% with a volume of over 60 million. This is a rapid growth, a high-quality development year for China. For the whole year, we can see that the sales volume was quite high in the previous quarters. In the Q4, the growth rate was minus 7.3%. We can also come to the conclusion that the competition is still fierce. This is the market landscape. Second, last year, in terms of the export, we can also see the highlight. Hitting 6 million and also a record high with a growth rate of 22%.
In the future, the export of Chinese vehicles will also become the highlight. For Geely, last year's target, it is 3.45 million units. As for ICE, China Sedans. I should say that the target is quite flat, about 1.2 million. As for Galaxy, 1.55 million units. As for Lynk & Co and Zeekr, 400,000 and also Lynk & Co, 300,000. You can see that our target is about 3.45 million units for 2026 in terms of exports.
As for the sales volume of Geely in 2025, we were number 2 in the domestic market. In 2026, domestically, we set the sales target to be number 1 in China. As for overseas sales, we will also step up input, and also benchmark against our Chinese automakers, and also narrow down the gap. I should say that the competition is a marathon for the automakers.
The figures are just a kind of a reference. Rather, we should just commit to the values generated to our customers, and also enable that our customers can have better experiences driven by the advancement of technologies. Therefore, we need to highlight the safety quality as well as new technologies to our customers.
We need to make the vehicles safer, and the new technologies can also deliver better experiences to our customers. Thank you. Our time is limited. We may just conclude here, but before that, we can see that we have already extended our time. If you have any more questions, you are welcome to contact us. Just like Mr. Gan mentioned that we just focus on the long-termism. Time will test our products, and I believe that you can have full confidence in Geely's development. Thank you. Now I would like to conclude today's conference.
Still, we can see maybe some questions haven't been responded, including the questions posted online. We will also join the roadshow conferences by the investors, so you can also make the registration. If you have any more questions, we are ready to respond then. Thank you.