HANGZHOU, July 12 (Xinhua) -- Zhejiang Geely Holding Group has announced that its net profit in the first half of this year is estimated to grow by over 50 percent compared with the same period last year.

The Chinese automaker said in a statement Wednesday that the growth mainly resulted from surging sales revenue.

Geely sold 766,630 vehicles from January to June, up 44 percent year-on-year. Its yearly sales are expected to exceed the goal of 1.58 million.

The company recorded 4.34 billion yuan (650 million U.S. dollars) in net profit in the first half of 2017.