Workflow
极氪不到一年拟退市,吉利要下盘大棋
GEELY AUTOGEELY AUTO(HK:00175) 3 6 Ke·2025-05-20 00:55

Group 1 - Zeekr has initiated the process of privatization following a proposal from its controlling shareholder, Geely Automobile, marking its return to the Geely system [1] - Geely currently holds 65.7% of Zeekr's shares, and if the acquisition of the remaining shares is completed, Zeekr will become a wholly-owned subsidiary and delist from the stock market [1][4] - The return of Zeekr aligns with Geely's historical strategic logic, as the company previously unified its sub-brands to enhance competitiveness [1][4] Group 2 - Zeekr's sales performance has been declining, with the flagship model Zeekr 001's sales dropping from 4,359 units in January to 2,976 units in March 2024 [3] - In April 2024, Zeekr's total deliveries fell to 13,727 units, a year-on-year decrease of 15% and a month-on-month decrease of 11% [3] - The company aims to achieve a sales target of 320,000 units for the year but has only completed 17.22% of this target by April [3] Group 3 - Following its listing on the New York Stock Exchange, Zeekr's stock price fluctuated between $20 and $30, with a low of $13 per share, resulting in a market capitalization of $3.3 billion [4] - The company has faced significant net losses from 2021 to 2024, totaling over 26 billion yuan, which has led to a cycle of financial constraints [5] - Geely's cash flow was reported at 43.6 billion yuan by the end of 2024, indicating its capacity to finance the acquisition of Zeekr [6] Group 4 - The integration of Zeekr and Lynk & Co has led to a reduction in product offerings by 20% and aims to streamline operations and reduce costs [10] - The first quarter of 2025 saw Zeekr's costs decrease to 17.8 billion yuan, down 2.4% year-on-year and 38.6% quarter-on-quarter [11] - The merger is seen as a critical step for Geely to enhance its competitiveness in the rapidly evolving electric vehicle market [12]