Geely Auto shares rise despite Q3 profit miss as revenue climbs 10%

Geely Automobile, a Chinese auto manufacturer listed on the Hong Kong Stock Exchange, experienced a mixed financial quarter in the July-September period. Despite missing analyst estimates for profit, the company's shares rose by 2.3%, indicating strong investor sentiment. Revenue increased by 10% to 98.96 billion yuan, surpassing the projected 7% growth in vehicle sales volume to 812,523 units.

Core profit, which excludes certain accounting adjustments, rose by 32% to 5.21 billion yuan. However, the overall profit attributable to shareholders fell short of expectations, increasing by only 28% year on year to 4.84 billion yuan. The company's success in exporting and selling higher-value vehicles contributed to its revenue growth, while core profit growth outpaced revenue growth, reflecting improved operating performance.