Multiple Automakers and Suppliers Unveil Q1 2026 Results and Strategic Updates

Geely Auto reported RMB 83.8 billion in revenue for Q1 2026, up 15% year-over-year, setting a new record high for the same period; core net profit attributable to shareholders reached RMB 4.56 billion, an increase of 31% YoY; total sales volume stood at 709,358 units, including 203,000 units exported, surging 126% YoY, with 125,000 new energy vehicles (NEVs) exported, soaring 572% YoY. Chery Automobile posted Q1 2026 revenue of RMB 65.87 billion and gross profit of RMB 10.564 billion, up 24.9% YoY, with gross margin rising to 16.04%; net profit attributable to shareholders was RMB 4.17 billion, down year-over-year. Mercedes-Benz reported Q1 2026 operating profit of €1.9 billion, down 17% YoY, yet still exceeding market expectations; the company anticipates a recovery in growth momentum in the second half of the year but faces pressures from tariffs and intensified market competition, particularly in China. Dreame held its DREAME NEXT launch event in Silicon Valley, where Ma Junye, President of its Starry Sky Project, confirmed that the company had secretly prepared for vehicle development since 2021–2022, with a timeline similar to Xiaomi Auto’s entry; currently adopting a model akin to “Huawei’s approach,” Dreame is collaborating with established OEMs on joint R&D and production, focusing on core technologies rather than manufacturing infrastructure. Yeepiao Technology signed an agreement with Wuhan Economic & Technological Development Zone to build an intelligent NEV plant integrating vehicle manufacturing, R&D and testing, and component supply. SAIC Motor’s MG brand plans to construct an EV factory in Spain to mitigate the impact of EU tariffs; details are still under discussion and have not been finalized. During the Beijing Auto Show, the China Automotive Chip Industry Innovation Strategic Alliance established a RISC-V Automotive-Grade Chip Special Committee, bringing together industry players including Dongfeng, Great Wall, GAC, FAW, BYD, and Infineon to promote RISC-V architecture adoption in intelligent vehicles. Tuopu Group reported Q1 2026 revenue of RMB 6.628 billion, up 14.92% YoY; net profit was RMB 552 million, down 2.42% YoY. Unisoc and Unity China jointly launched a lightweight integrated cockpit-and-driving rendering solution based on the A7870 and A8880 chip platforms, supporting high-quality multi-screen interaction and 3D visualization. BMW Brilliance Automotive’s subsidiary Lixiang Digital signed a memorandum of understanding with Volcano Engine to deepen AI applications across sales, marketing, and service operations. ThunderSoft and iFLYTEK signed a strategic cooperation agreement to integrate Droplet AIOS with end-to-end voice interaction technologies, enhancing intelligent human-machine interaction in vehicles. At midday close on April 29, 2026, Hong Kong’s Hang Seng Index rose 1.23%, while the Hang Seng Tech Index gained 1.07%; NIO-SW surged over 8%, BYD and Li Auto climbed more than 2%, and XPeng Group rose over 1%. According to data from the Passenger Car Association (CPCA), from April 1 to 26, 2026, nationwide passenger vehicle retail sales totaled 1.004 million units, down 24% YoY; wholesale volume reached 1.268 million units, down 15% YoY; cumulative retail sales for the year stood at 5.226 million units, down 19% YoY; cumulative wholesale volume totaled 7.134 million units, down 8% YoY. Bibo Auto Electronics completed its Series B+ financing round, raising over RMB 700 million; total funding raised in the Series B rounds exceeded RMB 1 billion, which will be used for mass production of intelligent chassis products, technological R&D, and global expansion.