{"slug":"geely-auto","name":"지리자동차","name_en":"Geely Auto","ticker":"0175.HK","updated_at":"2026-07-12T03:58:42.56+00:00","canonical":"https://valuechain.wiki/geely-auto","citable":"밸류체인 그래프 기준 지리자동차의 직접 연결 기업은 3곳(관계 기준 공급 3·매출 0)이고, 사슬을 2차까지 넓히면 45곳에 닿는다. 링크의 근거 출처는 9건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Geely Auto is directly linked to 3 companies (3 supply, 0 revenue relationships) and reaches 45 companies within two hops; the links are backed by 9 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"항셍 · 중국 완성차 · 신에너지 전환","kicker_en":"Hang Seng · China automaker · new-energy pivot","lead":"내연차 차이나스타부터 대중형 신에너지 갤럭시, 프리미엄 전기차 지커·링크앤코까지 거느린 중국 최대 민영 완성차 그룹으로, 다브랜드 포트폴리오가 가격전쟁 속 믹스 방어의 무기다. FY2025 매출 3,452억 위안·판매 302만 대에 신에너지차 비중이 56%까지 올라 업계 최상위권 전환 속도를 보였고, 지커가 4분기 흑자로 돌아서며 프리미엄 믹스가 매출총이익률(16.6%)을 떠받쳤다. 지금 봐야 할 축은 수출 — 2026년 상반기 해외 판매가 158% 급증하며 내수 출혈경쟁의 완충판이 되고 있고, 배터리(CATL)·스마트드라이빙(엔비디아 토르·모빌아이) 조달 로드맵이 지커의 경쟁력을 좌우한다.","lead_en":"China's largest private automaker, spanning ICE (China Star), mainstream new-energy (Galaxy) and premium EVs (Zeekr, Lynk & Co) — a multi-brand portfolio that is its weapon for defending mix through the price war. FY2025 revenue of RMB 345.2bn on 3.02M units, with new-energy vehicles reaching 56% of the mix, showed one of the industry's fastest transitions, and Zeekr's swing to a Q4 profit lifted the premium mix that underpinned the 16.6% gross margin. The axis to watch is exports — up 158% in H1 2026, a buffer against the bloody domestic price war — while battery (CATL) and smart-driving (NVIDIA Thor, Mobileye) sourcing roadmaps govern Zeekr's competitiveness.","segments":{"parts":[{"desc":"내연차·수출 볼륨의 기반. 규모의 경제로 원가율을 지탱하며, 성숙 시장·신흥 수출에서 현금흐름을 낸다.","name":"지리·차이나스타 (내연·수출)"},{"desc":"대중형 신에너지 주력 브랜드. 판매의 신에너지 비중 56% 전환을 실제로 끌어올린 볼륨 축.","name":"지리 갤럭시 (신에너지)"},{"desc":"프리미엄 전기차. 지커가 4분기 흑자로 돌아서고 링크앤코와 통합되며 믹스·마진 개선을 주도.","name":"지커·링크앤코 (프리미엄)"}],"total":"약 ¥3,452억 (FY2025)"},"segments_en":{"parts":[{"desc":"The base of ICE and export volume — scale economics support the cost ratio and generate cash from mature and emerging export markets.","name":"Geely·China Star (ICE·export)"},{"desc":"The mainstream new-energy volume brand — what actually drove the 56% NEV share of sales.","name":"Geely Galaxy (new-energy)"},{"desc":"Premium EVs — Zeekr's swing to a Q4 profit and the Lynk & Co merger lead the mix and margin improvement.","name":"Zeekr·Lynk & Co (premium)"}],"total":"approx. CN¥345.2B (FY2025)"},"returns_yearly":{"2021":-40.8,"2022":-22.9,"2023":-40.3,"2024":98.5,"2025":14.5,"2026":18.9},"return_asof":"2026-07-10","value_chain":{"leading":[],"benefiting":[{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":1,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":13.3}},{"slug":"catl","name":"CATL","name_en":"CATL","tier":1,"returns_yearly":{"2021":67.4,"2022":-21.4,"2023":-40.6,"2024":74.5,"2025":39.4,"2026":1.2}},{"slug":"mobileye","name":"Mobileye","name_en":"Mobileye","tier":1,"returns_yearly":{"2023":23.6,"2024":-54,"2025":-47.6,"2026":-8.5}},{"slug":"kioxia","name":"키옥시아","name_en":"Kioxia","tier":2,"returns_yearly":{"2025":1082.1,"2026":260.5}},{"slug":"micron","name":"Micron Technology","name_en":"Micron Technology","tier":2,"returns_yearly":{"2021":24.2,"2022":-45.9,"2023":71.9,"2024":-1,"2025":240.2,"2026":243.3}},{"slug":"murata","name":"Murata","name_en":"Murata Manufacturing","tier":2,"returns_yearly":{"2021":-14,"2022":-11.7,"2023":24.7,"2024":-16.5,"2025":29.9,"2026":217.4}},{"slug":"nanya-pcb","name":"난야PCB","name_en":"Nan Ya PCB","tier":2,"returns_yearly":{"2021":110.6,"2022":-46.7,"2023":-0.5,"2024":-38.3,"2025":188.2,"2026":213.4}},{"slug":"intel","name":"Intel","name_en":"Intel","tier":2,"returns_yearly":{"2021":6.1,"2022":-46.6,"2023":94.6,"2024":-59.6,"2025":84,"2026":197.7}},{"slug":"stmicroelectronics","name":"ST마이크로일렉트로닉스","name_en":"STMicroelectronics","tier":2,"returns_yearly":{"2021":32.4,"2022":-26.8,"2023":41.7,"2024":-49.7,"2025":5.3,"2026":176.6}},{"slug":"ase","name":"ASE테크놀로지","name_en":"ASE Technology","tier":2,"returns_yearly":{"2021":38.3,"2022":-12.8,"2023":60.9,"2024":10.1,"2025":65.6,"2026":167.6}},{"slug":"nebius","name":"Nebius","name_en":"Nebius Group","tier":2,"returns_yearly":{"2025":202.2,"2026":162.4}},{"slug":"astera-labs","name":"Astera Labs","name_en":"Astera Labs","tier":2,"returns_yearly":{"2025":25.6,"2026":148.2}},{"slug":"ibiden","name":"Ibiden","name_en":"Ibiden","tier":2,"returns_yearly":{"2021":30.4,"2022":-19.6,"2023":51.6,"2024":-38.6,"2025":261,"2026":147.1}},{"slug":"sk-hynix","name":"SK하이닉스","name_en":"SK hynix","tier":2,"returns_yearly":{"2021":-0.4,"2022":-25.6,"2023":53.9,"2024":48.6,"2025":361.1,"2026":140.3}},{"slug":"unimicron","name":"유니마이크론","name_en":"Unimicron","tier":2,"returns_yearly":{"2021":133.5,"2022":-30.2,"2023":35.2,"2024":-19.7,"2025":175.7,"2026":131.6}},{"slug":"corning","name":"Corning","name_en":"Corning","tier":2,"returns_yearly":{"2021":5.9,"2022":-11.6,"2023":-1.2,"2024":60.6,"2025":87.8,"2026":118.8}},{"slug":"lumentum","name":"Lumentum","name_en":"Lumentum","tier":2,"returns_yearly":{"2021":11.6,"2022":-50.7,"2023":0.5,"2024":60.1,"2025":339.1,"2026":117.6}},{"slug":"samsung-electronics","name":"삼성전자","name_en":"Samsung Electronics","tier":2,"returns_yearly":{"2021":-9,"2022":-14.2,"2023":20.9,"2024":-26.4,"2025":212.9,"2026":77.9}},{"slug":"onsemi","name":"onsemi","name_en":"onsemi","tier":2,"returns_yearly":{"2021":107.5,"2022":-8.2,"2023":33.9,"2024":-24.5,"2025":-14.1,"2026":77.2}},{"slug":"coherent","name":"Coherent","name_en":"Coherent","tier":2,"returns_yearly":{"2021":-10,"2022":-48.6,"2023":24,"2024":117.6,"2025":94.8,"2026":75.8}},{"slug":"eoptolink","name":"Eoptolink","name_en":"Eoptolink","tier":2,"returns_yearly":{"2021":-10.1,"2022":-27.7,"2023":136.6,"2024":197,"2025":368.8,"2026":74.9}},{"slug":"innolight","name":"InnoLight","name_en":"InnoLight","tier":2,"returns_yearly":{"2021":-30.7,"2022":-18.3,"2023":253.7,"2024":12,"2025":468.1,"2026":68.8}},{"slug":"keysight","name":"Keysight","name_en":"Keysight Technologies","tier":2,"returns_yearly":{"2021":56.3,"2022":-17.2,"2023":-7,"2024":1,"2025":26.5,"2026":58.5}},{"slug":"delta-electronics","name":"Delta Electronics","name_en":"Delta Electronics","tier":2,"returns_yearly":{"2021":-3.4,"2022":10.4,"2023":-0.3,"2024":59.2,"2025":183.8,"2026":54.9}},{"slug":"monolithic-power","name":"Monolithic Power","name_en":"Monolithic Power","tier":2,"returns_yearly":{"2021":35.5,"2022":-27.8,"2023":79.8,"2024":-5.6,"2025":54.5,"2026":49.8}},{"slug":"analog-devices","name":"Analog Devices","name_en":"Analog Devices","tier":2,"returns_yearly":{"2021":21,"2022":-4.9,"2023":23.4,"2024":8.8,"2025":29.8,"2026":46.7}},{"slug":"tsmc","name":"TSMC","name_en":"TSMC","tier":2,"returns_yearly":{"2021":12.1,"2022":-36.7,"2023":42.3,"2024":92.6,"2025":55.9,"2026":43.6}},{"slug":"abb","name":"ABB","name_en":"ABB","tier":2,"returns_yearly":{"2021":23.9,"2022":7.3,"2023":18.9,"2024":39,"2025":36.1,"2026":27.2}},{"slug":"pegatron","name":"페가트론","name_en":"Pegatron","tier":2,"returns_yearly":{"2021":-5.9,"2022":0.6,"2023":35.3,"2024":21.2,"2025":-23.8,"2026":24}},{"slug":"luxshare","name":"Luxshare","name_en":"Luxshare Precision","tier":2,"returns_yearly":{"2021":-11.9,"2022":-30.2,"2023":-21.2,"2024":58.8,"2025":29.3,"2026":20.6}},{"slug":"digital-realty","name":"Digital Realty","name_en":"Digital Realty","tier":2,"returns_yearly":{"2021":30.7,"2022":-41,"2023":39.9,"2024":35.9,"2025":-10.1,"2026":18.2}},{"slug":"amphenol","name":"Amphenol","name_en":"Amphenol","tier":2,"returns_yearly":{"2021":34.9,"2022":-12,"2023":31.5,"2024":41.3,"2025":96.1,"2026":18.1}},{"slug":"wistron","name":"위스트론","name_en":"Wistron","tier":2,"returns_yearly":{"2021":7.9,"2022":9.7,"2023":272.7,"2024":-1.6,"2025":22.7,"2026":14.8}},{"slug":"yunnan-energy","name":"Yunnan Energy (Enjie)","name_en":"Yunnan Energy New Material (SEMCORP)","tier":2,"returns_yearly":{"2021":92.8,"2022":-38.6,"2023":-72.6,"2024":-29.2,"2025":76.4,"2026":7.5}},{"slug":"kyec","name":"KYEC","name_en":"King Yuan Electronics (KYEC)","tier":2,"returns_yearly":{"2021":26.7,"2022":-7.7,"2023":132.4,"2024":38.6,"2025":171,"2026":4.2}},{"slug":"tinci","name":"Tinci Materials","name_en":"Tinci Materials","tier":2,"returns_yearly":{"2021":68.3,"2022":5.6,"2023":-61.4,"2024":-0.7,"2025":124.2,"2026":-1}},{"slug":"blackrock","name":"BlackRock","name_en":"BlackRock","tier":2,"returns_yearly":{"2021":29.4,"2022":-20.4,"2023":17.9,"2024":29.3,"2025":6.6,"2026":-2.1}},{"slug":"te-connectivity","name":"TE Connectivity","name_en":"TE Connectivity","tier":2,"returns_yearly":{"2021":35.1,"2022":-27.7,"2023":24.6,"2024":3.5,"2025":61.1,"2026":-11.3}},{"slug":"ronbay","name":"룽바이커지(容百科技)","name_en":"Ronbay Technology","tier":2,"returns_yearly":{"2021":96.6,"2022":-39.1,"2023":-63.6,"2024":12.3,"2025":47.7,"2026":-12.9}},{"slug":"recursion","name":"Recursion Pharmaceuticals","name_en":"Recursion Pharmaceuticals","tier":2,"returns_yearly":{"2022":-55,"2023":27.9,"2024":-31.4,"2025":-39.5,"2026":-13}},{"slug":"byd-electronics","name":"BYD일렉트로닉스","name_en":"BYD Electronics","tier":2,"returns_yearly":{"2021":-56.1,"2022":16,"2023":-0.4,"2024":60.6,"2025":-19.4,"2026":-34.4}},{"slug":"chunbo","name":"천보","name_en":"Chunbo","tier":2,"returns_yearly":{"2021":40.4,"2022":-7.3,"2023":-65,"2024":-55.6,"2025":59.1,"2026":-37.6}},{"slug":"enchem","name":"엔켐","name_en":"Enchem","tier":2,"returns_yearly":{"2022":-37.4,"2023":173.9,"2024":-20.5,"2025":-26.1,"2026":-76.7}},{"slug":"btr-new-material","name":"BTR New Material","name_en":"BTR New Material Group Co., Ltd","tier":2,"returns_yearly":null},{"slug":"openai","name":"OpenAI","name_en":"OpenAI","tier":2,"returns_yearly":null},{"slug":"samsung-electro-mechanics","name":"삼성전기","name_en":"Samsung Electro-Mechanics","tier":3,"returns_yearly":{"2021":-11.8,"2022":-18.5,"2023":-1.4,"2024":-2.5,"2025":110,"2026":467.7}},{"slug":"at-s","name":"AT&S","name_en":"AT&S","tier":3,"returns_yearly":{"2021":57.5,"2022":-22,"2023":-27.6,"2024":-41.3,"2025":188.9,"2026":390.3}},{"slug":"jusung-engineering","name":"주성엔지니어링","name_en":"Jusung Engineering","tier":3,"returns_yearly":{"2021":127.9,"2022":-42.6,"2023":173.3,"2024":-3.1,"2025":30.7,"2026":364.1}},{"slug":"sumco","name":"섬코","name_en":"SUMCO Corporation","tier":3,"returns_yearly":{"2021":-4.3,"2022":-3.9,"2023":21.3,"2024":-48.1,"2025":41.7,"2026":225.8}},{"slug":"psk-inc","name":"피에스케이","name_en":"PSK Inc","tier":3,"returns_yearly":{"2021":22.7,"2022":-19.6,"2023":14.2,"2024":-2.6,"2025":228.2,"2026":208}},{"slug":"lg-innotek","name":"LG이노텍","name_en":"LG Innotek","tier":3,"returns_yearly":{"2021":78.2,"2022":-22,"2023":-28.8,"2024":-22.1,"2025":66.8,"2026":204.6}},{"slug":"arm","name":"Arm Holdings","name_en":"Arm Holdings","tier":3,"returns_yearly":{"2024":64.2,"2025":-11.4,"2026":195.8}},{"slug":"globalwafers","name":"GlobalWafers","name_en":"GlobalWafers","tier":3,"returns_yearly":{"2021":26.9,"2022":-29.9,"2023":14.3,"2024":-39,"2025":48.9,"2026":171.6}},{"slug":"acm-research","name":"ACM Research","name_en":"ACM Research","tier":3,"returns_yearly":{"2021":4.9,"2022":-72.9,"2023":153.4,"2024":-22.7,"2025":161.3,"2026":161.1}},{"slug":"amd","name":"AMD","name_en":"AMD","tier":3,"returns_yearly":{"2021":56.9,"2022":-55,"2023":127.6,"2024":-18.1,"2025":77.3,"2026":160.5}},{"slug":"kulicke-soffa","name":"Kulicke & Soffa","name_en":"Kulicke & Soffa","tier":3,"returns_yearly":{"2021":92.4,"2022":-25.8,"2023":25.5,"2024":-13.2,"2025":-0.3,"2026":150.1}},{"slug":"cohu","name":"코후","name_en":"Cohu","tier":3,"returns_yearly":{"2021":-0.2,"2022":-15.9,"2023":10.4,"2024":-24.6,"2025":-12.8,"2026":141.4}},{"slug":"applied-materials","name":"어플라이드 머티어리얼즈","name_en":"Applied Materials","tier":3,"returns_yearly":{"2021":83.6,"2022":-37.5,"2023":68,"2024":1.1,"2025":59.6,"2026":135}},{"slug":"mediatek","name":"미디어텍","name_en":"MediaTek","tier":3,"returns_yearly":{"2021":27.8,"2022":-26.6,"2023":52.9,"2024":58.3,"2025":24.9,"2026":124.3}},{"slug":"arteris","name":"Arteris","name_en":"Arteris","tier":3,"returns_yearly":{"2022":-79.6,"2023":37,"2024":73,"2025":52.1,"2026":124.3}},{"slug":"formfactor","name":"FormFactor","name_en":"FormFactor","tier":3,"returns_yearly":{"2021":6.3,"2022":-51.4,"2023":87.6,"2024":5.5,"2025":26.8,"2026":110.7}},{"slug":"kc-tech","name":"케이씨텍","name_en":"KC Tech","tier":3,"returns_yearly":{"2021":-24.2,"2022":-6.1,"2023":57.9,"2024":5.9,"2025":56.7,"2026":108.1}},{"slug":"lam-research","name":"램리서치","name_en":"Lam Research","tier":3,"returns_yearly":{"2021":53.7,"2022":-40.7,"2023":88.6,"2024":-6.8,"2025":139.2,"2026":105}},{"slug":"jcet","name":"JCET","name_en":"JCET (Jiangsu Changjiang Electronics)","tier":3,"returns_yearly":{"2021":-34,"2022":0.2,"2023":-15.2,"2024":73.3,"2025":28,"2026":104.6}},{"slug":"onto-innovation","name":"Onto Innovation","name_en":"Onto Innovation","tier":3,"returns_yearly":{"2021":112.9,"2022":-32.7,"2023":124.6,"2024":9,"2025":-5.3,"2026":103.6}},{"slug":"wolfspeed","name":"울프스피드","name_en":"Wolfspeed","tier":3,"returns_yearly":{"2026":102.7}},{"slug":"simmtech","name":"심텍","name_en":"Simmtech","tier":3,"returns_yearly":{"2021":119.6,"2022":-34.6,"2023":12.4,"2024":-63.3,"2025":392.9,"2026":94.9}},{"slug":"daeduck","name":"대덕전자","name_en":"Daeduck Electronics","tier":3,"returns_yearly":{"2021":64.2,"2022":-0.3,"2023":13.3,"2024":-22.7,"2025":250.2,"2026":92.1}},{"slug":"kla","name":"KLA","name_en":"KLA","tier":3,"returns_yearly":{"2021":68,"2022":-11.2,"2023":56,"2024":9.4,"2025":94.5,"2026":91}},{"slug":"tower-semiconductor","name":"Tower Semiconductor","name_en":"Tower Semiconductor","tier":3,"returns_yearly":{"2021":53.7,"2022":8.9,"2023":-29.4,"2024":68.8,"2025":128,"2026":89.7}},{"slug":"screen-holdings","name":"SCREEN Holdings","name_en":"SCREEN Holdings","tier":3,"returns_yearly":{"2021":40.7,"2022":-13.2,"2023":220.1,"2024":-24.1,"2025":84.9,"2026":86.3}},{"slug":"teradyne","name":"Teradyne","name_en":"Teradyne","tier":3,"returns_yearly":{"2021":36.8,"2022":-46.3,"2023":24.8,"2024":16.5,"2025":54.4,"2026":85.9}},{"slug":"asmpt","name":"ASMPT","name_en":"ASMPT","tier":3,"returns_yearly":{"2021":-29,"2022":-12.4,"2023":21.8,"2024":-4.8,"2025":47.6,"2026":82}},{"slug":"resonac","name":"Resonac","name_en":"Resonac","tier":3,"returns_yearly":{"2021":-2.6,"2022":-4,"2023":37.5,"2024":30.3,"2025":137.9,"2026":80.4}},{"slug":"macom","name":"MACOM","name_en":"MACOM Technology","tier":3,"returns_yearly":{"2021":42.3,"2022":-19.6,"2023":47.6,"2024":39.8,"2025":31.8,"2026":80.1}},{"slug":"tokyo-electron","name":"도쿄일렉트론","name_en":"Tokyo Electron (TEL)","tier":3,"returns_yearly":{"2021":40.4,"2022":-14.5,"2023":89.8,"2024":-4.4,"2025":61.6,"2026":78.2}},{"slug":"qnity-electronics","name":"퀴니티 일렉트로닉스","name_en":"Qnity Electronics","tier":3,"returns_yearly":{"2026":76.3}},{"slug":"entegris","name":"Entegris","name_en":"Entegris","tier":3,"returns_yearly":{"2021":44.6,"2022":-52.5,"2023":83.5,"2024":-17.1,"2025":-14.6,"2026":72.8}},{"slug":"kokusai-electric","name":"Kokusai Electric","name_en":"Kokusai Electric","tier":3,"returns_yearly":{"2024":-35.4,"2025":165.3,"2026":70}},{"slug":"asml","name":"ASML","name_en":"ASML","tier":3,"returns_yearly":{"2021":64.1,"2022":-30.5,"2023":39.9,"2024":-7.7,"2025":55.8,"2026":68.6}},{"slug":"global-unichip","name":"Global Unichip","name_en":"Global Unichip","tier":3,"returns_yearly":{"2021":21.4,"2022":67.6,"2023":99.4,"2024":-13.7,"2025":101.4,"2026":66.4}},{"slug":"ajinomoto","name":"Ajinomoto","name_en":"Ajinomoto","tier":3,"returns_yearly":{"2021":31,"2022":36,"2023":44.5,"2024":4,"2025":14.1,"2026":63.7}},{"slug":"foosung","name":"후성","name_en":"Foosung","tier":3,"returns_yearly":{"2021":59.9,"2022":-33.5,"2023":-34.5,"2024":-39.1,"2025":67.4,"2026":62.2}},{"slug":"besi","name":"BESI","name_en":"BESI","tier":3,"returns_yearly":{"2021":33.7,"2022":-6.1,"2023":121.8,"2024":-9.3,"2025":35,"2026":56.2}},{"slug":"fujimi","name":"Fujimi","name_en":"Fujimi Incorporated","tier":3,"returns_yearly":{"2021":64.7,"2022":-1.6,"2023":40.4,"2024":-24.2,"2025":28.4,"2026":54.6}},{"slug":"eugene-tech","name":"유진테크","name_en":"Eugene Technology","tier":3,"returns_yearly":{"2021":28.1,"2022":-45.1,"2023":64.1,"2024":-12.6,"2025":202.5,"2026":49.5}},{"slug":"montage","name":"Montage Technology","name_en":"Montage Technology","tier":3,"returns_yearly":{"2021":-18.2,"2022":-21.8,"2023":-18,"2024":51.4,"2025":169,"2026":47.4}},{"slug":"gigabyte","name":"기가바이트","name_en":"Gigabyte Technology","tier":3,"returns_yearly":{"2021":82.3,"2022":-3.4,"2023":173.2,"2024":-15.9,"2025":-4.7,"2026":44.4}},{"slug":"shin-etsu","name":"신에쓰화학","name_en":"Shin-Etsu Chemical","tier":3,"returns_yearly":{"2021":6.3,"2022":3.1,"2023":57.8,"2024":-15.6,"2025":7.6,"2026":44}},{"slug":"samsung-e-a","name":"삼성E&A","name_en":"Samsung E&A","tier":3,"returns_yearly":{"2021":74.5,"2022":20,"2023":-13.7,"2024":-15.9,"2025":76.7,"2026":43.2}},{"slug":"tokyo-ohka","name":"Tokyo Ohka Kogyo","name_en":"Tokyo Ohka Kogyo (TOK)","tier":3,"returns_yearly":{"2021":-2.7,"2022":-3,"2023":63.8,"2024":4.3,"2025":111.5,"2026":42.9}},{"slug":"camtek","name":"Camtek","name_en":"Camtek","tier":3,"returns_yearly":{"2021":110.1,"2022":-52.3,"2023":215.9,"2024":18.3,"2025":31.7,"2026":35.2}},{"slug":"ebara","name":"Ebara","name_en":"Ebara","tier":3,"returns_yearly":{"2021":58.1,"2022":2.3,"2023":76.1,"2024":41,"2025":84,"2026":32.3}},{"slug":"asm-international","name":"ASM International","name_en":"ASM International","tier":3,"returns_yearly":{"2021":44.2,"2022":2.9,"2023":68.7,"2024":10.3,"2025":25.9,"2026":28.8}},{"slug":"powertech","name":"파워텍 (PTI)","name_en":"Powertech Technology (PTI)","tier":3,"returns_yearly":{"2021":4.8,"2022":-7.5,"2023":86,"2024":-16,"2025":128.6,"2026":26}},{"slug":"linde","name":"Linde","name_en":"Linde","tier":3,"returns_yearly":{"2021":33.4,"2022":-4.4,"2023":27.7,"2024":3.2,"2025":3.2,"2026":25.1}},{"slug":"coreweave","name":"CoreWeave","name_en":"CoreWeave","tier":3,"returns_yearly":{"2026":24.1}},{"slug":"air-products","name":"에어프로덕츠","name_en":"Air Products and Chemicals","tier":3,"returns_yearly":{"2021":13.8,"2022":3.9,"2023":-9,"2024":8.1,"2025":-12.7,"2026":23.7}},{"slug":"cadence","name":"Cadence Design Systems","name_en":"Cadence Design Systems","tier":3,"returns_yearly":{"2021":36.6,"2022":-13.8,"2023":69.6,"2024":10.3,"2025":4,"2026":22.9}},{"slug":"lasertec","name":"Lasertec","name_en":"Lasertec","tier":3,"returns_yearly":{"2021":78.9,"2022":2.4,"2023":57,"2024":-60.6,"2025":138.9,"2026":22.4}},{"slug":"mitsubishi-electric","name":"미쓰비시전기","name_en":"Mitsubishi Electric","tier":3,"returns_yearly":{"2021":-8.1,"2022":2.5,"2023":58.7,"2024":19.1,"2025":91,"2026":21.3}},{"slug":"advantest","name":"Advantest","name_en":"Advantest","tier":3,"returns_yearly":{"2021":17,"2022":-2.3,"2023":155.7,"2024":49.5,"2025":196,"2026":17.1}},{"slug":"sumitomo-chemical","name":"스미토모화학","name_en":"Sumitomo Chemical","tier":3,"returns_yearly":{"2021":19.6,"2022":-9.1,"2023":-27.7,"2024":-2.2,"2025":43.9,"2026":16}},{"slug":"broadcom","name":"Broadcom","name_en":"Broadcom","tier":3,"returns_yearly":{"2021":56.5,"2022":-13.3,"2023":104.2,"2024":110.5,"2025":50.6,"2026":16}},{"slug":"nikon","name":"니콘","name_en":"Nikon","tier":3,"returns_yearly":{"2021":46.2,"2022":10.9,"2023":23.1,"2024":13.7,"2025":19.7,"2026":15.9}},{"slug":"nepes","name":"네패스","name_en":"Nepes","tier":3,"returns_yearly":{"2021":-29.5,"2022":-44,"2023":6.7,"2024":-62.7,"2025":179.2,"2026":15.1}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":3,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":14.3}},{"slug":"merck-kgaa","name":"Merck KGaA","name_en":"Merck KGaA (EMD)","tier":3,"returns_yearly":{"2021":42.2,"2022":-0.4,"2023":-19.1,"2024":-2.5,"2025":-12.7,"2026":13.5}},{"slug":"air-liquide","name":"Air Liquide","name_en":"Air Liquide","tier":3,"returns_yearly":{"2021":14.1,"2022":7.9,"2023":20.9,"2024":8.5,"2025":-4.8,"2026":12.5}},{"slug":"disco","name":"디스코","name_en":"Disco Corporation","tier":3,"returns_yearly":{"2021":-6.6,"2022":27.7,"2023":218.5,"2024":11.6,"2025":49.6,"2026":10.2}},{"slug":"wonik-qnc","name":"원익QnC","name_en":"Wonik QnC","tier":3,"returns_yearly":{"2021":26.2,"2022":2,"2023":11.9,"2024":-33.7,"2025":53.4,"2026":9.3}},{"slug":"wonik-ips","name":"원익IPS","name_en":"Wonik IPS","tier":3,"returns_yearly":{"2021":-19.7,"2022":-19.8,"2023":-0.2,"2024":-25.5,"2025":408.8,"2026":9.3}},{"slug":"siemens-energy","name":"Siemens Energy","name_en":"Siemens Energy","tier":3,"returns_yearly":{"2021":-35.4,"2022":-2.7,"2023":-27,"2024":314.2,"2025":149.9,"2026":5.7}},{"slug":"hanmi-semiconductor","name":"한미반도체","name_en":"Hanmi Semiconductor","tier":3,"returns_yearly":{"2021":98.5,"2022":-21.7,"2023":313.1,"2024":93.7,"2025":87.9,"2026":5.5}},{"slug":"hana-micron","name":"하나마이크론","name_en":"Hana Micron","tier":3,"returns_yearly":{"2021":109,"2022":-41,"2023":143.5,"2024":-52.4,"2025":269.3,"2026":5.3}},{"slug":"fabrinet","name":"Fabrinet","name_en":"Fabrinet","tier":3,"returns_yearly":{"2021":52.7,"2022":8.2,"2023":48.4,"2024":15.5,"2025":107.1,"2026":3.5}},{"slug":"softbank","name":"소프트뱅크그룹","name_en":"SoftBank Group","tier":3,"returns_yearly":{"2021":10.2,"2022":9.9,"2023":39.2,"2024":6.5,"2025":8.5,"2026":3.2}},{"slug":"qorvo","name":"코보","name_en":"Qorvo","tier":3,"returns_yearly":{"2021":-5.9,"2022":-42,"2023":24.2,"2024":-37.9,"2025":20.8,"2026":1.5}},{"slug":"eo-technics","name":"이오테크닉스","name_en":"EO Technics","tier":3,"returns_yearly":{"2021":7.6,"2022":-28.2,"2023":130.5,"2024":-16.2,"2025":163.2,"2026":0.7}},{"slug":"isc","name":"아이에스시","name_en":"ISC","tier":3,"returns_yearly":{"2021":43.2,"2022":14.2,"2023":116.5,"2024":-11.9,"2025":126.8,"2026":0.3}},{"slug":"hd-hyundai-electric","name":"HD Hyundai Electric","name_en":"HD Hyundai Electric","tier":3,"returns_yearly":{"2021":4.2,"2022":132.5,"2023":159.4,"2024":300.5,"2025":120.2,"2026":-3.7}},{"slug":"hpsp","name":"HPSP","name_en":"HPSP","tier":3,"returns_yearly":{"2023":216.5,"2024":-30.4,"2025":54.7,"2026":-4.5}},{"slug":"synopsys","name":"Synopsys","name_en":"Synopsys","tier":3,"returns_yearly":{"2021":42.1,"2022":-13.4,"2023":61.3,"2024":-5.7,"2025":-3.2,"2026":-5.2}},{"slug":"canon","name":"캐논","name_en":"Canon","tier":3,"returns_yearly":{"2021":22.5,"2022":11.1,"2023":46.4,"2024":27,"2025":-3.2,"2026":-5.6}},{"slug":"lg-display","name":"LG디스플레이","name_en":"LG Display","tier":3,"returns_yearly":{"2021":-6.8,"2022":-30.9,"2023":-8.5,"2024":-20.6,"2025":26.2,"2026":-5.7}},{"slug":"photronics","name":"Photronics","name_en":"Photronics","tier":3,"returns_yearly":{"2021":68.9,"2022":-10.7,"2023":86.4,"2024":-24.9,"2025":35.8,"2026":-6.6}},{"slug":"park-systems","name":"파크시스템스","name_en":"Park Systems","tier":3,"returns_yearly":{"2021":25.1,"2022":1.6,"2023":41.6,"2024":37.3,"2025":28.9,"2026":-11.2}},{"slug":"byd","name":"BYD","name_en":"BYD","tier":3,"returns_yearly":{"2021":-6.5,"2022":10.5,"2023":-28.5,"2024":58.9,"2025":8.7,"2026":-12.7}},{"slug":"hana-materials","name":"하나머티리얼즈","name_en":"Hana Materials","tier":3,"returns_yearly":{"2021":106,"2022":-30.5,"2023":26.1,"2024":-47.4,"2025":173.9,"2026":-15.7}},{"slug":"dongjin-semichem","name":"동진쎄미켐","name_en":"Dongjin Semichem","tier":3,"returns_yearly":{"2021":28.1,"2022":-13.7,"2023":16.1,"2024":-42.8,"2025":160.1,"2026":-15.8}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":3,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":-20}},{"slug":"unitest","name":"유니테스트","name_en":"Uni Test","tier":3,"returns_yearly":{"2021":23.4,"2022":-57.8,"2023":11.3,"2024":-1.6,"2025":6.8,"2026":-24.8}},{"slug":"oracle","name":"Oracle","name_en":"Oracle","tier":3,"returns_yearly":{"2021":36.9,"2022":-4.6,"2023":30.9,"2024":60,"2025":18.1,"2026":-27.4}},{"slug":"enf-technology","name":"이엔에프테크놀로지","name_en":"ENF Technology","tier":3,"returns_yearly":{"2021":-32.9,"2022":-23.6,"2023":1.3,"2024":-16.1,"2025":204.6,"2026":-28.4}},{"slug":"leeno","name":"리노공업","name_en":"Leeno Industrial","tier":3,"returns_yearly":{"2021":21,"2022":-5.3,"2023":18.3,"2024":9.5,"2025":150.1,"2026":-30.3}},{"slug":"sfa-semicon","name":"SFA반도체","name_en":"SFA Semicon","tier":3,"returns_yearly":{"2021":-5.8,"2022":-34.1,"2023":48.7,"2024":-48.7,"2025":139.8,"2026":-31.8}},{"slug":"soulbrain","name":"솔브레인","name_en":"Soulbrain","tier":3,"returns_yearly":{"2021":-8.2,"2022":-3.9,"2023":16.6,"2024":-37.6,"2025":192.8,"2026":-35.9}},{"slug":"sns-tech","name":"에스앤에스텍","name_en":"S&S Tech","tier":3,"returns_yearly":{"2021":-17.3,"2022":-5,"2023":45.8,"2024":-31.2,"2025":210.8,"2026":-47.5}},{"slug":"hanwha-semitech","name":"한화세미텍","name_en":"Hanwha Semitech","tier":3,"returns_yearly":null},{"slug":"hitachi-hightech","name":"히타치 하이테크","name_en":"Hitachi High-Tech","tier":3,"returns_yearly":null},{"slug":"sk-siltron","name":"SK실트론","name_en":"SK Siltron","tier":3,"returns_yearly":null},{"slug":"siemens-eda","name":"Siemens EDA","name_en":"Siemens EDA","tier":3,"returns_yearly":null},{"slug":"jsr","name":"JSR","name_en":"JSR Corporation","tier":3,"returns_yearly":null},{"slug":"cerebras","name":"Cerebras","name_en":"Cerebras Systems","tier":3,"returns_yearly":null},{"slug":"shinko","name":"신코덴키","name_en":"Shinko Electric Industries","tier":3,"returns_yearly":null}],"analysis":"투자 논점은 중국 가격전쟁 속에서 믹스와 수출로 마진을 지키느냐다. FY2025 판매 302만 대·신에너지 비중 56%로 전환 속도는 업계 최상위권이고, 지커의 4분기 흑자전환과 링크앤코 통합이 프리미엄 믹스를 끌어올려 매출총이익률 16.6%를 방어했다. 성장의 두 번째 축은 수출 — 2026년 상반기 해외 47.4만 대(+158%)로 내수 출혈경쟁을 상쇄하며, 신에너지차 해외 판매가 폭발적으로 늘고 있다. 조달은 CATL(배터리)과 엔비디아 드라이브 토르·모빌아이(스마트드라이빙)에 묶여 있어, 지커의 자율주행 컴퓨트 경쟁력이 반도체 파트너 로드맵에 종속된다는 점이 상방과 리스크를 동시에 만든다.","analysis_en":"The thesis is whether Geely can defend margins through mix and exports amid China's price war. FY2025 sales of 3.02M units at 56% new-energy show one of the sector's fastest transitions, and Zeekr's Q4 profit swing plus the Lynk & Co merger lifted the premium mix that defended a 16.6% gross margin. The second growth axis is exports — 474k units in H1 2026 (+158%), offsetting the domestic price war as overseas new-energy sales surge. Sourcing is tied to CATL (batteries) and NVIDIA Drive Thor / Mobileye (smart driving), so Zeekr's autonomous-compute edge depends on its chip partners' roadmaps — the source of both its upside and its risk.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"중국 내수 소비자","counterparty_slug":null,"confidence":"high","metric":{"unit":"units","label":"FY2025 total deliveries","value":3024567},"note":"갤럭시·차이나스타·지커 등 내수 판매가 매출의 핵심. FY2024 매출 2,402억 위안·판매 217.7만 대에서 FY2025 매출 3,452억 위안·판매 302.5만 대로 확대, 신에너지차 비중 56%.","note_en":"Domestic sales of Galaxy, China Star and Zeekr are the revenue core. Revenue grew from RMB240.2B on 2.177M units in FY2024 to RMB345.2B on 3.025M units in FY2025, with NEVs at 56 percent.","sources":[{"stance":"confirms","publisher":"TipRanks (25 애널리스트)","publisher_en":"TipRanks (25 analysts)","kind":"research","lang":"en","published_at":"2026-04-15","url":"https://www.tipranks.com/stocks/hk:0175/forecast","title":"지리자동차(0175) 애널리스트 컨센서스: 강력매수, 평균 목표가 HK$28.93","title_en":"Geely Automobile (0175) analyst forecast: Strong Buy, avg target HK$28.93","excerpt":"애널리스트 25명 컨센서스 강력매수, 12개월 평균 목표가 HK$28.93(고 35.95·저 21.20). 2026년 판매 목표 345만 대.","excerpt_en":"Consensus of 25 analysts is Strong Buy with a 12-month average target of HK$28.93 (high 35.95, low 21.20); 2026 sales target is 3.45M units."},{"stance":"confirms","publisher":"지리자동차 / Yahoo Finance","publisher_en":"Geely Auto / Yahoo Finance","kind":"news","lang":"en","published_at":"2026-03-19","url":"https://finance.yahoo.com/news/geely-auto-reports-record-2025-131700563.html","title":"지리자동차, 2025년 매출 3,452억 위안·판매 302만 대 사상 최대","title_en":"Geely Auto Reports Record 2025 Revenue of CNY 345.2 Billion and 3.02 Million Vehicle Deliveries","excerpt":"2025년 매출 3,452억 위안(+25%), 판매 302만 대, 신에너지차 229만 대로 침투율 56%. 갤럭시 124만 대.","excerpt_en":"FY2025 revenue RMB345.2B (+25%), 3.02M deliveries, NEVs 2.29M for 56% penetration; Galaxy 1.24M."},{"stance":"confirms","publisher":"HKEX / 지리자동차","publisher_en":"HKEX / Geely Automobile Holdings","kind":"filing","lang":"en","published_at":"2025-03-20","url":"https://www.hkexnews.hk/listedco/listconews/sehk/2025/0320/2025032001294.pdf","title":"지리자동차 2024 연차보고서 (Annual Report)","title_en":"Geely Automobile Holdings 2024 Annual Report","excerpt":"2024 연차보고서: 총매출 약 2,402억 위안, 판매 2,176,567대(+34%), 신에너지·전동화 888,235대(+92%).","excerpt_en":"2024 Annual Report: total revenue about RMB240.2 billion, sales of 2,176,567 units (+34%), new-energy and electrified vehicles of 888,235 (+92%)."}]},{"direction":"investment","counterparty":"지커 (Zeekr)","counterparty_slug":null,"confidence":"high","metric":{"unit":"pct","label":"Geely stake in Zeekr","value":62},"note":"지리가 지커 지분 약 62%를 보유·연결. 2024년 지커를 상장사로 재통합하고 링크앤코와 통합해 프리미엄 신에너지 그룹으로 육성. 지커는 2025년 4분기 흑자전환, 연 22.4만 대 인도.","note_en":"Geely holds and consolidates about 62% of Zeekr. In 2024 it reintegrated the listed Zeekr and merged it with Lynk & Co into a premium new-energy group; Zeekr turned profitable in Q4 2025 on 224,000 deliveries.","sources":[{"stance":"confirms","publisher":"지리자동차 / Yahoo Finance","publisher_en":"Geely Auto / Yahoo Finance","kind":"news","lang":"en","published_at":"2026-03-19","url":"https://finance.yahoo.com/news/geely-auto-reports-record-2025-131700563.html","title":"지리자동차, 2025년 매출 3,452억 위안·판매 302만 대 사상 최대","title_en":"Geely Auto Reports Record 2025 Revenue of CNY 345.2 Billion and 3.02 Million Vehicle Deliveries","excerpt":"지커는 22.4만 대 인도, 2025년 4분기 흑자전환으로 브랜드 이정표 달성.","excerpt_en":"Zeekr delivered 224,000 units and turned profitable in Q4 2025, a milestone for the brand."},{"stance":"confirms","publisher":"HKEX / 지리자동차","publisher_en":"HKEX / Geely Automobile Holdings","kind":"filing","lang":"en","published_at":"2025-03-20","url":"https://www.hkexnews.hk/listedco/listconews/sehk/2025/0320/2025032001294.pdf","title":"지리자동차 2024 연차보고서 (Annual Report)","title_en":"Geely Automobile Holdings 2024 Annual Report","excerpt":"연차보고서: 지리는 지커 지분 62%를 보유하며 링크앤코 다수 지분과 함께 연결 실적에 반영.","excerpt_en":"Annual Report: Geely holds 62% of Zeekr, consolidated alongside its majority stake in Lynk & Co."}]},{"direction":"cost","counterparty":"CATL","counterparty_slug":"catl","confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"지커 001·009에 CATL 치린(CTP3.0) 배터리 최초 채택. CATL은 지리의 최대 배터리 공급사로, 자체 션둔·진좐 배터리 및 합작(파라시스·LG엔솔)과 병행 조달해 협상력을 확보.","note_en":"Zeekr 001 and 009 were the first to adopt CATL's Qilin (CTP3.0) battery. CATL is Geely's largest battery supplier, sourced alongside Geely's own Shendun and Jinzhuan cells and JVs (Farasis, LG Energy Solution) to preserve bargaining power.","sources":[{"stance":"confirms","publisher":"36Kr","publisher_en":"36Kr","kind":"news","lang":"en","published_at":"2025-12-01","url":"https://eu.36kr.com/en/p/3382647058684041","title":"지커 상장폐지·지리 재통합 — 배터리 브랜드 통합","title_en":"Zeekr exits NYSE, returns to Geely; battery brands unified","excerpt":"Geely unified its battery businesses under 'Shendun Jinzhuan' and deepened cooperation with CATL for upstream bargaining power.","excerpt_en":"Battery brands unified; deeper CATL cooperation."},{"stance":"confirms","publisher":"36Kr","publisher_en":"36Kr","kind":"news","lang":"en","published_at":"2025-06-01","url":"https://eu.36kr.com/en/p/3365335407036165","title":"지리 신에너지 급성장: CATL은 지리의 최대 배터리 공급사","title_en":"Surging Geely New Energy: CATL is Geely's largest battery supplier","excerpt":"CATL은 지리의 최대 공급사로 지리와 협력해 5개월 만에 생산라인을 2개에서 12개로 늘렸다.","excerpt_en":"CATL, as Geely's largest supplier, coordinated with Geely to raise production lines from 2 to 12 in just five months."},{"stance":"confirms","publisher":"HKEX / 지리자동차","publisher_en":"HKEX / Geely Automobile Holdings","kind":"filing","lang":"en","published_at":"2025-03-20","url":"https://www.hkexnews.hk/listedco/listconews/sehk/2025/0320/2025032001294.pdf","title":"지리자동차 2024 연차보고서 (Annual Report)","title_en":"Geely Automobile Holdings 2024 Annual Report","excerpt":"연차보고서상 매출원가의 최대 비목은 배터리를 포함한 원재료·부품이며, 신에너지차 확대로 배터리 조달 비중이 커졌다.","excerpt_en":"Per the annual report, the largest component of cost of sales is raw materials and parts including batteries, whose share rose with NEV expansion."},{"stance":"confirms","publisher":"E-Mobility Engineering","publisher_en":"E-Mobility Engineering","kind":"news","lang":"en","published_at":"2023-04-17","url":"https://www.emobility-engineering.com/zeekr-becomes-first-ev-maker-to-adopt-catls-qilin-battery/","title":"지커, CATL 치린 배터리 최초 채택 EV 브랜드","title_en":"Zeekr becomes first EV maker to adopt CATL's Qilin battery","excerpt":"지커가 CATL 치린 배터리를 채택한 첫 EV 브랜드가 됐다.","excerpt_en":"Zeekr became the first EV maker to adopt CATL's Qilin battery."}]},{"direction":"cost","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"지커가 엔비디아 드라이브 토르의 최초 양산 고객. 지커 007부터 드라이브 오린을 적용, CES 2025서 토르 기반 스마트드라이빙 키트를 공개해 고성능 자율주행 컴퓨트를 조달.","note_en":"Zeekr is the first production customer for Nvidia's Drive Thor; it adopted Drive Orin from the Zeekr 007 and unveiled a Thor-based smart-driving kit at CES 2025, sourcing high-performance autonomous-driving compute.","sources":[{"stance":"confirms","publisher":"CnEVPost","publisher_en":"CnEVPost","kind":"news","lang":"en","published_at":"2025-01-07","url":"https://cnevpost.com/2025/01/07/zeekr-nvidia-thor-smart-driving-kit-ces-2025/","title":"지커, CES 2025서 엔비디아 토르 기반 스마트드라이빙 키트 공개","title_en":"Zeekr releases Nvidia Thor-based smart driving kit at CES 2025","excerpt":"지커가 CES 2025에서 엔비디아 토르 기반 스마트드라이빙 키트를 공개했고, 지커 007에는 드라이브 오린을 적용했다.","excerpt_en":"Zeekr released an Nvidia Thor-based smart-driving kit at CES 2025, having used Drive Orin in the Zeekr 007."}]},{"direction":"cost","counterparty":"Mobileye","counterparty_slug":"mobileye","confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"지커가 2021년 모빌아이 슈퍼비전을 세계 최초 양산 적용. 2022년 9만여 대, 이후 누적 11만 대 이상에 슈퍼비전 파일럿 기능을 탑재하며 스마트드라이빙 반도체·소프트웨어를 조달.","note_en":"Zeekr was the first to bring Mobileye SuperVision to series production in 2021, with over 90,000 units in 2022 and SuperVision pilot functions added to more than 110,000 vehicles since, sourcing smart-driving chips and software.","sources":[{"stance":"confirms","publisher":"Mobileye","publisher_en":"Mobileye","kind":"news","lang":"en","published_at":"2024-01-08","url":"https://www.mobileye.com/news/mobileye-supervision-pilot-functions-added-to-110000-zeekr-vehicles/","title":"모빌아이 슈퍼비전, 지커 차량 11만 대에 탑재","title_en":"Mobileye SuperVision Pilot functions added to 110,000 ZEEKR vehicles","excerpt":"모빌아이 슈퍼비전 파일럿 기능이 지커 차량 11만 대에 추가됐다.","excerpt_en":"Mobileye SuperVision Pilot functions were added to 110,000 ZEEKR vehicles."}]},{"direction":"revenue","counterparty":"해외 수출 시장","counterparty_slug":null,"confidence":"mid","metric":{"unit":"units","label":"FY2024 overseas sales","value":414522},"note":"수출이 성장 축. FY2024 해외 판매 414,522대(+57%), 2026년 상반기 해외 47.4만 대로 158% 급증하며 신에너지차 해외 판매가 전년비 585% 증가.","note_en":"Exports are a growth axis. Overseas sales were 414,522 units in FY2024 (+57%); in H1 2026 overseas volume jumped 158% to 474,000 units, with NEV exports up 585% year on year.","sources":[{"stance":"confirms","publisher":"뉴스핌","publisher_en":"Newspim","kind":"news","lang":"ko","published_at":"2026-07-08","url":"https://www.newspim.com/news/view/20260708000328","title":"지리자동차그룹, 상반기 142만대 판매…역대 최고 실적","title_en":"Geely Auto Group sells 1.42 million units in H1, record high","excerpt":"2026년 상반기 해외 판매 47만4228대로 전년比 158% 급증, 신에너지차 해외 27만7189대(+585%).","excerpt_en":"H1 2026 overseas sales 474,228 units (+158%), with 277,189 NEVs exported (+585%)."},{"stance":"confirms","publisher":"HKEX / 지리자동차","publisher_en":"HKEX / Geely Automobile Holdings","kind":"filing","lang":"en","published_at":"2025-03-20","url":"https://www.hkexnews.hk/listedco/listconews/sehk/2025/0320/2025032001294.pdf","title":"지리자동차 2024 연차보고서 (Annual Report)","title_en":"Geely Automobile Holdings 2024 Annual Report","excerpt":"2024 연차보고서: 해외 수출 판매 414,522대, 전년 대비 57% 증가.","excerpt_en":"2024 Annual Report: overseas export sales of 414,522 units, up 57% year on year."}]},{"direction":"cost","counterparty":"철강·부품·반도체","counterparty_slug":null,"confidence":"mid","metric":{"unit":"pct","label":"FY2025 gross margin","value":16.6},"note":"매출원가의 대부분은 강재·차체부품·전장 반도체 등 원재료. FY2025 매출총이익률은 16.6%로 규모의 경제와 고부가 지커 믹스가 원가율을 개선.","note_en":"Most of cost of sales is raw materials such as steel, body components and automotive semiconductors. FY2025 gross margin was 16.6%, aided by scale and a higher-value Zeekr mix.","sources":[{"stance":"confirms","publisher":"지리자동차 / Yahoo Finance","publisher_en":"Geely Auto / Yahoo Finance","kind":"news","lang":"en","published_at":"2026-03-19","url":"https://finance.yahoo.com/news/geely-auto-reports-record-2025-131700563.html","title":"지리자동차, 2025년 매출 3,452억 위안·판매 302만 대 사상 최대","title_en":"Geely Auto Reports Record 2025 Revenue of CNY 345.2 Billion and 3.02 Million Vehicle Deliveries","excerpt":"FY2025 매출총이익률 16.6%로 상승, 지커 9X(마진 40%대)가 견인.","excerpt_en":"FY2025 gross margin edged up to 16.6%, lifted by the Zeekr 9X at a ~40% margin."},{"stance":"confirms","publisher":"HKEX / 지리자동차","publisher_en":"HKEX / Geely Automobile Holdings","kind":"filing","lang":"en","published_at":"2025-03-20","url":"https://www.hkexnews.hk/listedco/listconews/sehk/2025/0320/2025032001294.pdf","title":"지리자동차 2024 연차보고서 (Annual Report)","title_en":"Geely Automobile Holdings 2024 Annual Report","excerpt":"연차보고서: 매출원가는 원재료·부품·인건비로 구성되며 FY2024 매출총이익률은 15.9%.","excerpt_en":"Annual Report: cost of sales comprises raw materials, parts and labour; FY2024 gross margin was 15.9%."}]}]}