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Geely Reports 32% Profit Surge
Geely Automobile Holdings Ltd. says its net earnings jumped to 2 billion yuan ($325 million) last year from 1.55 billion yuan ($247 million) in 2011 because of strong demand outside China.
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Geely Automobile Holdings Ltd. says its net earnings jumped to 2 billion yuan ($325 million) last year from 1.55 billion yuan ($247 million) in 2011 because of strong demand outside China.
Revenue climbed 18% year over year to 24.6 billion yuan ($3.9 billion) in 2012. Sales increased 15% to 483,500 units. Geely's overseas volume more than doubled to 101,000 vehicles. But its domestic deliveries were flat at 381,000 units.
The company aims to boost global sales 16% to 560,000 vehicles this year.
Separately, Geely Vice President Daniel Li confirms to the China Daily that the company has decided not to make a final bid for Fisker Automotive Inc. He says the California-based maker of hybrid cars does not suit Geely's "strategic consideration."
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