Core Viewpoint - Geely Auto plans to privatize Zeekr by acquiring all outstanding shares at a premium, aiming for a complete merger and delisting of Zeekr [2]. Group 1: Privatization and Acquisition - Geely submitted a non-binding offer to privatize Zeekr at $2.57 per share or $25.66 per ADS, representing a 13.6% premium over the last trading day [2]. - Geely holds approximately 65.7% of Zeekr's total issued share capital, and if the privatization is completed, Zeekr will be delisted and fully merged with Geely [2]. - Funding for the privatization will come from new share issuance, cash reserves, and debt financing [2]. Group 2: Strategic Integration and Growth Plans - Geely's chairman Li Shufu emphasized the need for strategic integration and innovation to enhance profitability and long-term value creation in the competitive automotive market [3]. - In November 2024, Geely announced an increase in its stake in Zeekr to about 62.8%, aiming to strengthen strategic support for Zeekr [3]. - The acquisition of Lynk & Co by Zeekr was completed in February 2025, with Zeekr holding 51% and Geely 49%, establishing the Zeekr Technology Group [4]. Group 3: Sales and Revenue Targets - In 2024, Zeekr Technology Group achieved total revenue of 113.89 billion yuan, with sales exceeding 500,000 vehicles, including 222,100 from Zeekr and 285,000 from Lynk & Co [4]. - The group aims for a 40% growth rate in 2025, targeting annual sales of 710,000 vehicles, with Lynk & Co aiming for 390,000 and Zeekr for 320,000 [4]. - The long-term goal is to become a million-unit annual sales high-end luxury electric vehicle group by 2026 [4].

Group 1: Automotive Trade Data - In March 2025, the total import and export value of automotive goods reached $23.82 billion, a month-on-month increase of 32.1% but a year-on-year decrease of 0.2% [1] - The import value was $3.67 billion, up 3.8% month-on-month but down 30.4% year-on-year; the export value was $20.15 billion, up 38.9% month-on-month and up 8.4% year-on-year [1] - From January to March 2025, the cumulative total import and export value was $65.14 billion, a year-on-year decrease of 4.6% [1] Group 2: New Energy Vehicle Sales - In April 2025, the wholesale sales of new energy passenger vehicles in China are estimated to be 1.14 million units, representing a year-on-year increase of 42% and a month-on-month increase of 1% [1] - Cumulative wholesale sales from January to April 2025 are projected to reach 4 million units, also a year-on-year increase of 42% [1] Group 3: Company Developments - Geely Auto proposed to privatize Zeekr at a price of $2.57 per share, which is a 13.6% premium over the last trading day [1] - Changan Automobile refuted rumors of merging with Dongfeng Group and announced legal actions against those spreading false information [3] - Li Auto clarified that the reported salary of $63.9 million for CEO Li Xiang is inaccurate, with the actual salary being $2.66 million [4] Group 4: Product Launches and Sales Performance - The new Zhiji L6 has received 24,000 pre-orders since its launch on April 18, with a price range of 219,900 to 289,900 yuan [4] - SAIC Volkswagen reported terminal sales of nearly 83,000 vehicles in April 2025, a year-on-year increase of 5.9% [4] - Lucid delivered 3,109 vehicles in Q1 2025 and maintained its annual production forecast of nearly 20,000 vehicles [5]

Group 1 - Li Auto's founder and CEO Li Xiang's reported salary of 639 million RMB for 2024 is inaccurate, consisting of 2.665 million RMB in salary, 160,000 RMB in retirement contributions, and 636.309 million RMB in stock-based compensation [1][2] - Li Auto has set a target for Li Xiang to achieve annual sales of 500,000 vehicles and for the company's stock price to significantly exceed $29.26 to realize stock compensation, with a current stock price of $25.68 requiring Li Xiang to pay the company $32 million, equivalent to 230 million RMB [2] Group 2 - Geely Auto plans to acquire all outstanding shares of Zeekr, aiming for a complete merger, as Geely currently holds approximately 65.7% of Zeekr's shares [1] - Geely's chairman Li Shufu emphasized the need for business integration and innovation to enhance long-term value in a competitive market [1] Group 3 - Douyin's VP Li Liang commented on the recent incident involving complaints against a brand, advocating for legal action as a more effective means of protecting corporate rights [1] - He highlighted the challenges platforms face in proactively addressing infringement without sufficient information from affected parties [1] Group 4 - Nayuki Tea is undergoing a brand upgrade, introducing a new logo and name as part of its tenth-anniversary celebration [3][5] - This marks the second name change for Nayuki in three years, having previously simplified its name from "Nayuki no Cha" to "Nayuki Tea" [5] Group 5 - JD's customer service acknowledged delays in food delivery during peak times, attributing issues to various factors including city conditions and weather [1] - The platform is currently offering a promotion for free orders if delivery exceeds 20 minutes [1] Group 6 - Nvidia announced the release of the RTX 5060 graphics card, priced at 2499 RMB, with availability starting on May 20 [1] Group 7 - Xiaopeng Motors is considering an IPO for its flying car subsidiary, Xiaopeng Huitian, with plans to list in Hong Kong or the US [1][9] - The company has invited multiple banks to participate in the IPO process [9] Group 8 - Tesla's sales in Europe saw a significant decline in April, with a drop of 81% in Sweden and 46% in Germany, attributed to increased competition and consumer backlash against Elon Musk's political stance [16] - This decline led to a 1.75% drop in Tesla's stock price [16] Group 9 - OpenAI plans to reduce its revenue-sharing ratio with Microsoft by at least half by the end of the decade [16] - Apple is exploring AI-driven search options for its Safari browser, potentially challenging Google's dominance in search [16] Group 10 - TikTok announced a new data center project in Finland with an investment of 1 billion euros, part of a broader initiative to enhance data security in Europe [16] Group 11 - Uber is set to invest an additional 100 million USD in WeRide, marking its largest investment in the autonomous driving sector to date [17] - Samsung's Harman International has acquired Masimo's audio business for 350 million USD [17]

Group 1 - The Trump administration plans to lift AI chip export restrictions established during the Biden era, which has faced strong opposition from major tech companies and foreign governments [2] - The new policy will categorize countries into three groups to regulate chip exports from companies like Nvidia [2] - The U.S. Department of Commerce criticized Biden's AI rules as overly complex and bureaucratic, stating that a simpler rule will be introduced to enhance U.S. innovation in AI [2] Group 2 - The Federal Reserve has maintained the benchmark interest rate for the third consecutive time, highlighting rising risks of inflation and unemployment [3] - Fed Chairman Powell noted that the impact of tariffs has been greater than expected, but he denied any plans for preemptive rate cuts [3] - The Fed aims for a long-term inflation target of 2% while acknowledging increased uncertainty in the economic outlook [3] Group 3 - The China Securities Regulatory Commission has announced a comprehensive reform plan for the public fund industry, which is valued at over 30 trillion yuan [4] - The plan focuses on optimizing fee structures for actively managed equity funds and improving industry assessment mechanisms [4] - The reform aims to shift the focus of public funds from "scale" to "returns," marking a pivotal moment for high-quality development in the industry [4] Group 4 - Zeekr plans to delist from the U.S. stock market, becoming the first Chinese concept stock to do so amid ongoing U.S.-China tariff tensions [5] - The potential delisting has reignited discussions about the return of Chinese companies to domestic markets, with estimates suggesting that 27 Chinese concept stocks could meet the criteria for listing in Hong Kong [5] Group 5 - China's foreign exchange reserves increased for the fourth consecutive month, reaching $32,817 billion, with a month-on-month rise of $41 billion [6] - The increase is attributed to factors such as macroeconomic policies and expectations of economic growth in major economies [6] - The resilience and vitality of China's economy are seen as beneficial for maintaining stable foreign exchange reserves [6] Group 6 - Insurance companies have increased their stake in listed companies to 13 instances this year, reflecting a growing commitment from long-term capital [7] - Recent financial policies aim to enhance the investment capacity of insurance funds, potentially stabilizing and invigorating the capital market [7] - The implementation of new accounting standards is expected to influence the investment strategies of insurance companies [7] Group 7 - The ongoing military conflict between India and Pakistan has escalated, with significant casualties reported on both sides [8] - Experts warn that the current tensions could lead to severe consequences, urging both nations to pursue diplomatic solutions [8] Group 8 - The A-share market showed a rebound with all three major indices closing in the green, driven by strong performances in defense and agriculture sectors [9] - The Hong Kong stock market experienced mixed results, with the Hang Seng Index slightly up while the technology index fell [10] - U.S. stock markets closed higher, with notable gains in semiconductor stocks, while major tech companies like Google and Apple faced declines [9][10]

Group 1 - Li Xiang's reported salary of 639 million yuan is inaccurate; actual compensation is 2.66 million yuan, with the majority being stock-based compensation [1] - The People's Bank of China announced a 0.5% reduction in the reserve requirement ratio and a 0.1% decrease in policy interest rates, providing approximately 1 trillion yuan in long-term liquidity [1] Group 2 - Kweichow Moutai officially announced Zhang Yixing as its first brand ambassador, aiming to attract younger consumers [2] - Skechers announced its decision to go private, clarifying that this does not affect its operations in China [2] - Changan Automobile refuted rumors of merging with Dongfeng Group and is pursuing legal action against those spreading false information [2] Group 3 - The Federal Reserve decided to maintain the federal funds rate between 4.25% and 4.50%, marking the third consecutive meeting without a rate change [3] Group 4 - SpaceX received permission to increase its Starship launch frequency from 5 to 25 times per year [4] - Samsung's Harman International acquired Masimo's audio business for $350 million, aiming to strengthen its position in the consumer audio market [4] Group 5 - Geely Auto proposed to privatize Zeekr at a price of $2.57 per share, representing a premium of approximately 13.6% over the last trading price [7] - Reading Group and Japan's CCC Group established a strategic partnership to co-create IP and open a pop-up store in Japan [8] Group 6 - Uber reported Q1 revenue of $11.533 billion, a 14% year-over-year increase, with a net profit of $1.776 billion [13] - Disney's Q2 revenue grew 7% to $23.621 billion, with adjusted EPS increasing 20% to $1.45 [13] - Novo Nordisk reported Q1 net sales of 78.087 billion Danish kroner (approximately $11.01 billion), with a growth of 18% at fixed exchange rates [14]

Group 1 - A-share market has a more solid foundation for long-term stable operation due to a series of continuously strengthened policies [16] - The recent emphasis on stabilizing and activating the capital market by the State Council Information Office further supports this outlook [16] - The role of central financial institutions in promoting long-term capital inflow into the market is expected to enhance market resilience [16] Group 2 - The People's Bank of China is implementing a moderately loose monetary policy to support economic recovery and high-quality development [4] - The China Securities Regulatory Commission has issued a plan to promote the high-quality development of public funds, including reducing investor costs and reforming performance evaluation mechanisms [4][5] - The Guangdong provincial government has launched a special action plan to boost consumption, which includes encouraging listed companies to implement employee stock ownership plans [6] Group 3 - The U.S. Federal Reserve has maintained its interest rate target range, reflecting increased uncertainty in the economic outlook [7] - The Fed's concerns about rising unemployment and inflation risks indicate a cautious approach to future monetary policy adjustments [7] - The ongoing trade tensions and tariff discussions between the U.S. and China continue to create economic uncertainty [5][8]

Core Viewpoint - Geely Auto has proposed a non-binding offer to privatize Zeekr, suggesting a purchase price of $2.57 per share or $25.66 per American Depositary Share, aiming to focus on its core automotive business and enhance operational efficiency [1][2][3] Group 1: Privatization Proposal - Geely Auto announced its intention to privatize Zeekr, which has been listed on the NYSE for only one year, to concentrate on its main automotive business [1][2] - The proposed privatization is part of Geely's strategy to integrate resources, reduce costs, and improve competitiveness in the electric vehicle sector [3] Group 2: Zeekr's Financial Performance - Zeekr completed a Pre-A round financing of $500 million and an A round financing of $750 million, with valuations rising from $9 billion to $13 billion [2] - In 2024, Zeekr reported total revenue of 75.913 billion RMB ($10.4 billion), a year-on-year increase of 46.9%, with a net loss of 5.791 billion RMB, reduced by 29.9% year-on-year [2] Group 3: Strategic Focus and Brand Positioning - Geely aims to enhance brand synergy and maintain distinct positioning for its various brands, including Zeekr as a luxury tech brand and Lynk & Co as a high-end new energy brand [3] - The privatization aligns with Geely's "Taizhou Declaration" to improve resource utilization and strengthen its global competitiveness in the smart electric vehicle market [3] Group 4: Recent Transactions - Geely has also sold stakes in its subsidiary, Geely Xinwanda, to further focus on its automotive business, with the total transaction value amounting to approximately 84.3 million RMB [4]

Group 1 - Zeekr, under the stock code "ZK," went public on the NYSE on May 10, 2024, becoming the fastest IPO in the new energy vehicle sector [1] - On May 7, 2025, Geely Automobile announced a non-binding offer to privatize Zeekr, proposing a purchase price of $2.566 per share or $25.66 per American Depositary Share [1] - Geely currently holds approximately 65.7% of Zeekr's shares, and if the privatization is completed, Zeekr will become a wholly-owned subsidiary of Geely [1] Group 2 - Geely's move to privatize Zeekr is part of its strategy to focus on its core automotive business and enhance competitiveness in the new energy and intelligent vehicle sectors [4] - The merger aims to improve resource integration, reduce operational costs, and enhance user experience, positioning Geely for long-term sustainable development [4] - As of May 7, 2025, Geely's stock price was HKD 16.78, with a total market capitalization of HKD 169.1 billion, while Zeekr's stock price was $22.59, with a market cap of $5.742 billion [4] Group 3 - In Q1 2025, Geely's total sales reached 704,000 units, a 48% year-on-year increase, with new energy vehicle sales at 339,000 units, achieving over 50% penetration in the domestic market [6] - The integration of Zeekr and Lynk & Co resulted in a 21% year-on-year sales increase, with a reduction in costs per vehicle by over 20% [6] - Following the merger, Geely plans to maintain clear market positioning for its brands, with Zeekr targeting the global luxury tech market and Lynk & Co focusing on the mid-to-high-end market [7]

5月7日，吉利汽车公告，公司于2025年5月7日向极氪提交非约束性报价函，建议私有化极 氪，收购所有已发行及发行在外的极氪股份及美国存托股票，建议购买价为每股极氪股份2.57 美元或每股美国存托股票25.66美元。 倘若私有化建议落实并完成，极氪将成为本公司的全资 附属公司，实现私有化并于纽交所退市 。 极氪在纽交所上市仅一年时间，吉利此举引发各方关注。 5月7日傍晚，吉利控股集团有关负 责人回应记者表示，吉利汽车此次建议私有化极氪，是吉利为了"聚焦汽车主业，回归一个吉 利" 。 极氪新款车型 极氪自动化产线 吉利将聚焦汽车主业 极氪冲击年销百万目标 2024年登陆纽交所 宁德时代等参与投资 根据吉利汽车公告，公司于2025年5月7日向极氪提交非约束性报价函，建议私有化极氪，收 购所有已发行及发行在外的极氪股份及美国存托股票（本集团实益拥有者除外）。建议购买 价为每股极氪股份2.57美元或每股美国存托股票25.66美元。该价格较最后交易日美国存托股 票于纽交所的收市交易价溢价约13.6%，较截至最后交易日止最后30个交易日期间美国存托股 票于纽交所的成交量加权平均价格溢价20.0%。 根据公告，于公布日期，本 ...

2025.05. 07 本文字数：1677，阅读时长大约3分钟 作者 | 第一财经 肖逸思 5月7日，吉利汽车控股有限公司（下称"吉利汽车"，股票代码：0175.HK）宣布，计划收购极氪智能 科技有限公司（下称"极氪"，股票代码：NYSE: ZK）已发行全部股份。吉利汽车目前持有极氪约 65.7%的股份，如交易完成，极氪将与吉利汽车实现完全合并，实现私有化并于纽交所退市。 对此，吉利控股集团方面回应称，此举是进一步落实《台州宣言》，聚焦汽车主业，提升资源利用效 率，深化品牌协同的重要步骤。 极氪此次私有化并从美股退市的计划在中美关税摩擦的背景之下，是这一轮市场热议中概股回流话题 后的"第一股"。同一日上午，中国证监会主席吴清在国新办新闻发布会上就表示，创造条件支持优质 中概股企业回归内地和香港股市。 此次极氪私有化资金来源包括吉利汽车拟发行新股、现金储备及债务融资（倘需要）。 极氪合并进吉利汽车 受此消息影响，截至美东时间5:30左右，极氪美股盘前大涨超11%至25.1美元，基本接近吉利汽车私 有化极氪的作价25.66美元。 公开资料显示，极氪汽车于2024年5月10日在美国纽交所挂牌上市，当下距离其正式上市 ...