On the evening of November 27th, according to the equity disclosure document of the Hong Kong Stock Exchange, Li Shufu, Chairman of the Board of Directors of Geely Automobile, increased his shareholding in the company from 41.19% to 41.40%. According to the documents, Li Shufu purchased a total of 24.2 million shares of Geely stock for two consecutive days on November 26th and 27th, at a cost of approximately HKD 316 million.
Photo by journalist Zhang Jian
On the market, as of the close of the Hong Kong stock market today, Geely Automobile's stock price rose 1.08% to HKD 13.14 per share, with a total market value of HKD 132.31 billion.
On November 14th, Geely Automobile announced its financial report for the third quarter of 2024. During the period, Geely Automobile achieved a revenue of 60.378 billion yuan, a year-on-year increase of 20%, and a record high single quarter revenue; From January to September, Geely Automobile achieved a revenue of 167.684 billion yuan, a year-on-year increase of 36%. Benefiting from economies of scale and optimized product structure, in the third quarter, Geely Automobile's attributable profit to shareholders after deducting non recurring gains and losses was 2.76 billion yuan, a year-on-year increase of 116%. From January to September, the company's shareholders' attributable profit reached 13.053 billion yuan, a year-on-year increase of 358%, further enhancing profitability.
On the same day, Geely Holding announced the optimization of the equity structure of Jike and Lynk&Co, and will transfer its 11.3% stake in Jike Intelligent Technology (Jike) to Geely Automobile Holdings Co., Ltd. (referred to as "Geely Automobile"). After the transaction is completed, Geely Automobile's shareholding in Jike will increase to approximately 62.8%. At the same time, the equity structure of Lynk&Co (referred to as "Lynk&Co") has been optimized to promote comprehensive strategic synergy between Jike and Lynk&Co. Jike will hold 51% of Lynk&Co's shares, while the remaining 49% of Lynk&Co's shares will continue to be held by a wholly-owned subsidiary of Geely Automobile.
In terms of sales, Geely Automobile sold 226700 vehicles in October, a year-on-year increase of 28%. The car sales in the first 10 months were 1.716 million units, a year-on-year increase of 32%. Geely Automobile sold 29864 plug-in hybrid vehicles in October, a year-on-year increase of 17%.
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