Geely Automobile Expands Strategic Agreements with Geely Holding

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Geely Automobile Expands Strategic Agreements with Geely Holding

Geely Automobile Holdings ( (HK:0175) ) has issued an update.

Geely Automobile Holdings Limited has announced a series of exempted continuing connected transactions and an assets transfer agreement with Geely Holding. The company has entered into a Supplemental CBUs Sales Agreement to increase the annual caps for sales to Geely Holding due to delays in its dealership network expansion. Additionally, Geely has signed a CBUs and CKDs Manufacturing Services Agreement to provide manufacturing services to Geely Holding and smart Group. The company also agreed to purchase and sell certain assets to and from Geely Holding, reflecting strategic asset management and partnership strengthening. These transactions are subject to specific reporting and review requirements under the Listing Rules but are exempt from independent shareholders’ approval.

More about Geely Automobile Holdings

Geely Automobile Holdings Limited is a major player in the automotive industry, primarily engaged in the manufacturing and sale of automobiles and related components. The company focuses on expanding its market presence through strategic partnerships and agreements, particularly in the Chinese market.

YTD Price Performance: 19.34%

Average Trading Volume: 67,495

Technical Sentiment Signal: Sell

Current Market Cap: $21.64B

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