Geely Automobile’s Strategic Acquisition and Service Expansion

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

Geely Automobile Holdings has announced the acquisition of Ningbo Passenger Vehicle for RMB123.689 million, a move that constitutes an exempted connected transaction under Hong Kong’s Listing Rules. This strategic acquisition is accompanied by an Integrated Services Framework Agreement with VCI, Livan Automotive, and Farizon Technology, aimed at enhancing service delivery until the end of 2026. The transactions align with regulatory requirements, being subject to reporting and announcement obligations but exempt from requiring independent shareholders’ approval.

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