Geely Automobile (HKG:0175) forecasts its attributable profit to surge 220% to 270% year over year to between 5.2 billion yuan and 5.8 billion yuan in the first quarter following accounting policy changes, according to a Thursday filing with the Hong Kong bourse.
The surge is attributable to record-high sales, as well as growth in its new energy vehicle business, including a net foreign exchange gain after tax of between 2 billion yuan and 2.3 billion yuan in the quarter.
Prior to the accounting change, attributable profit is seen to soar 640% to 690% to between 11.6 billion yuan and 12.3 billion yuan, the filing said.
The accounting change takes into consideration Zeekr's acquisition of Lynk & Co in February, the filing said.
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