极氪退市在即，转身抱紧吉利大腿

Core Viewpoint - Geely Auto plans to acquire all issued shares of Zeekr, aiming for complete integration and privatization of Zeekr, which will lead to its delisting from the New York Stock Exchange [1][2]. Group 1: Strategic Integration - The acquisition of Zeekr is part of Geely's strategic integration efforts to enhance resource utilization and brand synergy, as outlined in the "Taizhou Declaration" [3]. - Geely has already made several business adjustments since the declaration, including restructuring the equity of Zeekr and Lynk & Co, with Zeekr investing 9 billion yuan to acquire 50% of Lynk & Co [3]. - The integration aims to reduce R&D costs by 10%-20% and supply chain costs by 5%-8%, while improving capacity utilization by 3%-5% [3]. Group 2: Financial Challenges - Zeekr has been facing significant financial losses, with cumulative net losses reaching 26.22 billion yuan from 2021 to 2024 [5]. - The company's market valuation dropped nearly 60% from its pre-IPO valuation of 13 billion USD to 5.2 billion USD at the time of IPO, limiting its ability to raise sufficient funds [5]. - The decision for Geely to privatize Zeekr is seen as a necessary move to provide financial support and enable Zeekr to compete effectively in the market [4][6]. Group 3: Product and Market Expansion - Under the dual-brand strategy of "Zeekr + Lynk & Co," both brands plan to launch new models and expand their presence in overseas markets [6]. - Zeekr aims to sell 710,000 vehicles this year, necessitating significant investment and support from Geely to achieve this target amidst ongoing financial difficulties [6].