Core Viewpoint - Geely Holding Group is advancing its "One Geely" strategy by signing a merger agreement with Zeekr to acquire all outstanding shares, aiming to enhance its global competitiveness in the smart electric vehicle sector [2][4]. Company Developments - Geely plans to pay approximately $2.399 billion (about 17.199 billion RMB) for the full privatization of Zeekr, which will become a wholly-owned subsidiary post-merger [4]. - The merger is expected to be financed through internal resources or debt [4]. - Geely's sales target for 2025 has been raised by about 11%, from 2.71 million to 3 million units, reflecting strong sales growth [3][15]. Market Positioning - The merger aims to combine Zeekr's strengths in the luxury electric vehicle market with Geely's established presence in the mainstream market, enhancing overall competitiveness and corporate value [5]. - Geely's CEO stated that the merger will create a win-win situation and drive superior development for the combined company [5]. Financial Performance - In the first half of 2025, Geely's total sales reached 1.4092 million units, a year-on-year increase of 47% [14]. - Zeekr's sales in the first half of 2025 were 90,700 units, a 3% increase year-on-year, while Lynk & Co's sales were 154,100 units, up 22% [16]. Strategic Integration - Following the "Taizhou Declaration," Geely is focusing on strategic integration across its business segments, including Zeekr and Lynk & Co, to enhance collaboration in technology, product development, and market expansion [5][6]. - The newly formed Zeekr Technology Group will aim to achieve an annual production and sales volume of one million units by the end of 2026 [6]. Product Development - Zeekr's product lineup includes several models, with an average vehicle price of nearly 300,000 RMB and a highest price close to 900,000 RMB, positioning it firmly in the high-end luxury market [18]. - The upcoming launch of the full-size ultra-luxury SUV, Zeekr 9X, is expected to further enrich the product matrix [17].