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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Geely Automobile Holdings Limited    175   KYG3777B1032

GEELY AUTOMOBILE HOLDINGS LIMITED

(175)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 09/25
15.18 HKD   -0.78%
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Geely Automobile : PROFIT WARNING FOR THE SIX MONTHS ENDED 30 JUNE 2019

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07/08/2019 | 07:08am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

GEELY AUTOMOBILE HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 175)

PROFIT WARNING

FOR THE SIX MONTHS ENDED 30 JUNE 2019

This announcement is made by the Company in accordance with Part XIVA of the Securities and Futures Ordinance concerning disclosure of inside information and Rule 13.09(2)(a) of the Listing Rules.

Based on the currently available information, the Board wishes to inform the Shareholders and potential investors of the Company that the amount of the Net Profit for the six months ended 30 June 2019 is expected to decrease by about 40%, as compared with the amount of the Net Profit of RMB6.67 billion for the six months ended 30 June 2018.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

This announcement is made by Geely Automobile Holdings Limited (the "Company", together with its subsidiaries, the "Group") in accordance with Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) (the "Securities and Futures Ordinance") concerning disclosure of inside information and Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on the Main Board of The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Based on the currently available information, the Board wishes to inform the shareholders (the "Shareholders") of the Company and potential investors of the Company that the amount of the consolidated net profit attributable to the equity holders of the Company (the "Net Profit") for the six months ended 30 June 2019 is expected to decrease by about 40%, as compared with the Net Profit of RMB6.67 billion for the six months ended 30 June 2018.

The Directors believe that the decrease in the amount of the Net Profit for the six months ended 30 June 2019 is primarily due to the greater-than-expected decrease in overall sales volume in the Chinese vehicle market and the Group's proactive reduction in aggregate inventories of its dealers, resulting in negative impact on the Group's sales volume and profit margin during the same period.

- 1 -

The Board considers that the overall operations of the Group remain sound and intact. The Group's overall financial position also remains healthy.

The Company is still in the process of finalising the consolidated results of the Group for the six months ended 30 June 2019. This profit warning announcement is only an assessment by the Board based on the preliminary review of the currently available information, which has not been reviewed or audited by the Company's auditor. Shareholders and potential investors are advised to read carefully the announcement of the Company in relation to the consolidated results of the Group for the six months ended 30 June 2019, which is expected to be released in August 2019.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board of

Geely Automobile Holdings Limited

David C.Y. Cheung

Company Secretary

Hong Kong, 8 July 2019

As at the date of this announcement, the executive directors of the Company are Mr. Li Shu Fu (Chairman), Mr. Yang Jian (Vice Chairman), Mr. Li Dong Hui, Daniel (Vice Chairman), Mr. Gui Sheng Yue (Chief Executive Officer), Mr. An Cong Hui, Mr. Ang Siu Lun, Lawrence and Ms. Wei Mei, the non-executive director of the Company is Mr. Carl Peter Edmund Moriz Forster, and the independent non-executive directors of the Company are Mr. Lee Cheuk Yin, Dannis, Mr. Yeung Sau Hung, Alex, Mr. An Qing Heng and Mr. Wang Yang.

- 2 -

Disclaimer

Geely Automobile Holdings Ltd. published this content on 08 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2019 11:07:11 UTC

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Financials
Sales 2020 92 254 M 13 523 M 13 523 M
Net income 2020 7 232 M 1 060 M 1 060 M
Net cash 2020 17 499 M 2 565 M 2 565 M
P/E ratio 2020 17,7x
Yield 2020 1,42%
Capitalization 131 B 19 221 M 19 222 M
EV / Sales 2020 1,23x
EV / Sales 2021 1,03x
Nbr of Employees 38 000
Free-Float 58,5%
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 31
Average target price 16,40 CNY
Last Close Price 13,36 CNY
Spread / Highest target 105%
Spread / Average Target 22,8%
Spread / Lowest Target -46,3%
EPS Revisions
Managers
NameTitle
Sheng Yue Gui Chief Executive Officer & Executive Director
Wen Ze Xu President
Shu Fu Li Chairman
Siu Lun Ang Executive Director
Jian Yang Vice Chairman
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