Ge Long Hui·2025-12-24 22:06Core Viewpoint - Geely Automobile has completed the privatization and merger of Zeekr, which is now a wholly-owned subsidiary, marking a significant step towards the "One Geely" strategy [1] Group 1: Privatization and Merger - The privatization transaction of Zeekr was finalized on December 22, 2025, with Zeekr delisting from the New York Stock Exchange [1] - Approximately 70.8% of eligible Zeekr holders chose stock compensation, resulting in the issuance of 777,228,611 shares by Geely [1] - Geely will pay around $701 million in cash to the remaining 29.2% of eligible Zeekr holders who opted for cash compensation [1] Group 2: Brand Strategy and New Product Launches - Geely plans to launch 10 new energy models in 2025, including 5 new models and several facelifts under the Geely brand [2] - Zeekr will introduce the Zeekr 007 GT in April and the Zeekr 9X in Q3, while Lynk & Co will launch the Lynk & Co 900 EM-P in Q2 [2] - The new models will feature advanced driving assistance systems, with the Lynk & Co 900 EM-P being the first to use the NVIDIA Thor chip [2] Group 3: New Platform and Profitability - The GEA architecture supports the new product cycle, with positive developments across Zeekr, Lynk & Co, and Galaxy brands [3] - The transition to new energy vehicles is progressing well, with scale effects expected to enhance profitability [3] - The company forecasts a net profit of 17 billion yuan for 2025, with a corresponding PE ratio of 9.7X, maintaining a "buy" rating [3]