Moody's assigned Geely Auto a Baa3 issuer rating on August 28, while withdrawing its Ba1 corporate family rating, returning it to investment grade. The rating outlook was adjusted from positive to stable. This upgrade enables Geely Auto to access a broader range of funding sources and provides a reference for subsequent bond pricing. Moody's had previously downgraded Geely to Ba1 in April 2024, citing the NEV price war and R&D investment pressures. The current rating recovery is primarily attributed to Geely's improved profitability in the first half of the year, with a 15% increase in revenue and a 46% rise in core net profit attributable to the parent company, as well as an increase in export business and high-end product proportion. Strong operating cash flow and a reduction in debt from RMB 23 billion at the end of 2025 to RMB 13 billion at the end of June this year also contributed to the upgrade.