On March 18, GEELY AUTO released its 2025 annual report, revealing full-year revenue of 345.232 billion yuan, a 43.73% year-on-year increase, while net profit reached 16.852 billion yuan, up only 1.32%. This highlights a pattern of revenue growth without corresponding profit expansion.

Amid intense market competition, GEELY AUTO's product structure has deteriorated. Sales of the lower-priced Geely Galaxy surged 150% annually, while growth for the premium Zeekr brand stagnated at just 1%, leading to a sharp decline in per-vehicle net profit. During the second half of last year, newly launched premium models like the Zeekr 9X and Galaxy M9 saw initial sales spikes followed by rapid declines, indicating difficulty sustaining market interest.

As domestic price wars intensify, automakers are accelerating overseas expansion. However, GEELY AUTO's full-year exports grew merely 0.4% year-on-year, the lowest among leading automakers, signaling it is falling behind. Despite a significant 69% increase in R&D spending to 17.624 billion yuan in 2025, market skepticism arose when Gui Shengyue, Executive Director and CEO of Geely Holding, claimed during the annual report briefing that "GEELY AUTO's autonomous driving capabilities are expected to surpass Tesla's FSD within the year."

Analysts note that autonomous driving competitiveness hinges on real-world data volume and closed-loop efficiency. Tesla's FSD currently boasts approximately 10 billion kilometers of data, whereas GEELY AUTO, even with full effort in 2026, may accumulate only 1-2 billion kilometers annually—less than one-fifth of Tesla's current level. Moreover, GEELY AUTO's data closed-loop system remains under development and is unlikely to match FSD's maturity this year.

For 2026, GEELY AUTO has set a sales target of 3.45 million units, about 14% higher than 2025. However, with year-to-date sales growth at just 1% for the first two months, the company may face dual pressures from volume and pricing challenges.