Core Viewpoint - Zeekr Technology Holdings Limited has overwhelmingly approved the merger agreement with Geely Automobile Holdings, marking its transition to a wholly-owned private company by Geely, with its American Depositary Shares (ADS) set to be delisted from the New York Stock Exchange [1][5]. Group 1: Merger Details - Approximately 96.8% of the company's total circulating shares participated in the vote, with 94.2% supporting the merger proposal [5]. - Geely will acquire all outstanding shares of Zeekr, with shareholders having the option to receive either $2.687 in cash or 1.23 shares of Geely stock for each Zeekr share [5]. - The merger is expected to be completed by the end of this year, following approvals from both Geely and Zeekr shareholder meetings [5][6]. Group 2: Financial Performance - Geely reported a core net profit of 6.66 billion yuan, a year-on-year increase of 102%, with a single vehicle profit of 4,724 yuan, up 37% from the previous year [6]. - The sales expense ratio for the group decreased to 5.6%, while the R&D expense ratio fell from 5.1% to 4.9%, with total R&D investment rising from 6 billion yuan to 7.3 billion yuan [6]. Group 3: Strategic Implications - The merger is a significant step in implementing Geely's "One Geely" strategy, aimed at enhancing its competitiveness in the global smart electric vehicle sector [7]. - Post-merger, Geely will cover a wide range of power systems, including fuel, pure electric, plug-in hybrid, and hydrogen electric vehicles, while strategically positioning itself in mainstream, mid-to-high-end, and luxury markets [7].

Group 1 - The core point of the news is that Zeekr Technology Holdings Limited has received overwhelming shareholder approval for its merger agreement with Geely Automobile Holdings Limited, marking a significant step in the "One Geely" strategy [1] - The merger agreement was approved with 94.2% of the votes, indicating strong shareholder confidence in the long-term value creation post-merger [1] - Following the merger, Zeekr Technology will become a wholly-owned subsidiary of Geely Automobile and will no longer be listed on the New York Stock Exchange [1] Group 2 - Geely Automobile aims to leverage Zeekr's high-performance, intelligent, and global advantages to enhance its capabilities across technology, products, supply chain, manufacturing, marketing, and international resources [2] - The merger will enable Geely to cover mainstream, mid-to-high-end, and luxury segments, establishing a diverse power system that includes fuel, pure electric, plug-in hybrid, and alcohol-hydrogen electric vehicles [2] - The approval of the merger is seen as a crucial step towards the comprehensive return of the "One Geely" strategy, which aims to build cost advantages, enhance brand competitiveness, and strengthen global market influence [2]

Core Points - The special shareholders' meeting of Zeekr Technology approved multiple proposals, including the merger agreement with Geely Automobile, with a 94.2% approval rate, marking a significant step in the "One Geely" strategy [1] - Following the merger, Zeekr Technology will become a wholly-owned subsidiary of Geely Automobile and will no longer be listed on the New York Stock Exchange [1] - Geely Automobile aims to enhance overall group synergy by integrating internal resources and eliminating redundant investments under the guidance of the "Taizhou Declaration" strategy [1] Company Strategy - Zeekr Technology focuses on developing high-end luxury electric vehicles, and the merger will allow Geely to leverage its high-performance, intelligent, and global advantages [1] - The merger will enable Geely to comprehensively cover mainstream, mid-to-high-end, and luxury segments, forming a diverse power system that includes fuel, pure electric, plug-in hybrid, and hydrogen fuel cell vehicles [1] - The successful approval of the merger agreement marks the final phase of the "One Geely" initiative, laying the foundation for cost advantages, enhancing brand competitiveness, and increasing global market influence [1]

Group 1 - The core point of the article is the approval of the merger agreement between Zeekr Technology and Geely Automobile, marking a significant step in the "One Geely" strategy with a 94.2% approval vote from shareholders [1] - Following the merger, Zeekr Technology will become a wholly-owned subsidiary of Geely Automobile and will no longer be listed on the New York Stock Exchange [1] - The merger will enable Geely Automobile to integrate its high-performance, intelligent, and global advantages, enhancing its capabilities in technology, products, supply chain, manufacturing, marketing, and international resources [4] Group 2 - The merger will allow Geely Automobile to cover mainstream, mid-to-high-end, and luxury segments, creating a diverse power system that includes fuel, pure electric, plug-in hybrid, and hydrogen electric vehicles [4] - The successful passage of the merger agreement signifies the completion of the "One Geely" strategy, establishing a solid foundation for the group to build cost advantages, enhance brand competitiveness, and increase global market influence [4]

Core Viewpoint - The merger agreement between Zeekr Technology and Geely Automobile has been approved with 94.2% of votes, marking a significant step in the "One Geely" strategy, leading to Zeekr becoming a wholly-owned subsidiary of Geely and delisting from the New York Stock Exchange [1]. Group 1 - Zeekr Technology aims to become a global leader in high-end luxury electric vehicles [3]. - Post-merger, Geely will integrate its high-performance, intelligent, and global advantages with its strong foundation in mainstream markets, enhancing collaboration across technology, products, supply chains, manufacturing, marketing, and international resources [3]. - The merger will enable Geely to cover mainstream, mid-to-high-end, and luxury segments, establishing a diverse power system of "fuel + pure electric + plug-in hybrid + alcohol-hydrogen electric" [3]. Group 2 - The approval of the merger agreement signifies the final phase of the "One Geely" strategy, laying a solid foundation for the group to build cost advantages, enhance brand competitiveness, and increase global market influence [3].

Core Viewpoint - Geely Auto Group is actively implementing its "One Geely" strategic integration plan, focusing on consolidating its intelligent driving business and optimizing resource allocation across its various brands [2][3]. Group 1: Organizational Restructuring - The intelligent driving business integration plan is expected to be completed within September, with a new dual CEO structure established for Qianli Technology [2]. - The internal restructuring includes a matrix management approach for R&D departments, adding three horizontal departments to enhance collaboration and efficiency [2][3]. - The integration aims to eliminate resource waste caused by multiple teams working independently, thereby improving research and development efficiency and reducing costs [3]. Group 2: Brand Management and Research - Geely has established independent research institutes for its brands, including Lynk & Co, Zeekr, and Geely, under a "central technology platform + independent brand research institute" management model [5][6]. - This model allows for technical collaboration while enabling each brand to respond flexibly to market demands, enhancing overall competitiveness [6]. - The privatization of Zeekr has been approved by shareholders, marking a significant step in the implementation of the "One Geely" strategy [6].

Core Viewpoint - The "One Geely" strategy is becoming clearer as Geely Group establishes separate vehicle research institutes for its brands Zeekr and Lynk & Co, indicating a shift towards independent operations for these brands after their integration [1][9][10]. Group 1: Establishment of Research Institutes - Geely Group has announced the establishment of Zeekr Vehicle Research Institute and Lynk & Co Vehicle Research Institute, with specific product lines assigned to each [1][3]. - The Z, C, and M product lines, including models like Zeekr 9X and Zeekr 007, are now under the Zeekr Vehicle Research Institute, while the L and K product lines, including Lynk & Co 900 and Lynk & Co 08, are under the Lynk & Co Vehicle Research Institute [1][2]. Group 2: Integration and Management Structure - The integration process began with the unification of the smart cockpit teams, which is now led by Geely's Chief Cockpit Scientist, Jiang Jun [4][5]. - Geely has also formed the Galaxy Division to manage all its new energy passenger vehicle brands, further streamlining its operations [6]. - The integration of the autonomous driving teams has resulted in a new team of over 3,000 members under Qianli Technology, adopting a dual CEO structure [7][8]. Group 3: Strategic Goals and Expectations - Geely's integration aims to enhance efficiency, with targets for growth exceeding 5% and cost savings in R&D and management expenses projected to be in the tens of billions annually [14]. - The establishment of separate vehicle research institutes is expected to strengthen brand differentiation, with Zeekr positioned as luxury and technology-focused, Lynk & Co as trendy and sporty, and Galaxy as a mainstream new energy brand [14]. Group 4: Market Performance and Future Outlook - Geely's vehicle deliveries have shown significant growth, with 23.77 million units delivered in July, a 58% year-on-year increase, and 25.02 million units in August, indicating strong market performance [15]. - As of the end of August, Geely has delivered a total of 1.897 million vehicles, achieving 63.2% of its annual sales target of 3 million units, suggesting a positive outlook for reaching its goal of 5 million units by 2027 [15].

Core Viewpoint - Geely Automobile Holdings Limited has successfully passed the privatization proposal for Zeekr Intelligent Technology Co., Ltd. with a high approval rate of 95.14% at a special shareholder meeting, marking a significant step in the implementation of the "One Geely" strategy [1] Group 1 - The approval of the privatization proposal follows the formal merger agreement signed on July 15, indicating a commitment to internal resource integration and efficiency [1] - The high support from minority shareholders reflects confidence in the "One Geely" strategy and the potential for long-term shareholder value creation post-merger [1] - The merger will enable Geely to leverage Zeekr's leading position in the global luxury electric vehicle market, enhancing its technological, product, supply chain, manufacturing, marketing, and international resources [1] Group 2 - Post-merger, Geely will achieve comprehensive coverage of mainstream, mid-to-high-end, and luxury segments, establishing a diverse power system that includes fuel, pure electric, plug-in hybrid, and hydrogen fuel cell vehicles [1] - The successful privatization of Zeekr marks the final phase of the "One Geely" initiative, laying a solid foundation for building cost advantages, enhancing brand competitiveness, and increasing global market influence [1]

Core Insights - Geely Automobile held a special shareholders' meeting on September 5, where independent shareholders approved the Zeekr privatization proposal with a high voting rate of 95.14% [2] - The approval of this proposal marks a significant step in Geely's implementation of its "One Geely" strategy, following the formal merger agreement signed with Zeekr on July 15 [2]

Core Viewpoint - Geely Automobile Holdings Limited has successfully passed the privatization proposal for Zeekr Intelligent Technology Co., Ltd. with a high approval rate of 95.14% from independent shareholders, marking a significant step in the implementation of its "One Geely" strategy following the formal merger agreement signed on July 15 [1] Group 1 - The special shareholder meeting was held on September 5 [1] - The privatization proposal for Zeekr was approved by independent shareholders [1] - The approval rate for the proposal was 95.14% [1] Group 2 - The merger agreement between Geely and Zeekr was signed on July 15 [1] - The approval of the privatization proposal signifies progress in Geely's strategic initiatives [1]