Geely Profit Climbs Despite Competition, Regulatory Scrutiny

Geely Automobile Holdings Ltd. third-quarter profit rose as an ongoing discounting campaign turbo-charged sales.

Net income rose 59% in the three months ended Sept. 30 from a year earlier to 3.8 billion yuan ($535 million), the company said in a statement Monday. Revenue grew 27% to 89.2 billion yuan, driven by a 43% jump in vehicle deliveries.