Core Viewpoint - Geely is strategically integrating its battery assets, consolidating previously scattered battery brands and capacities into a unified brand, "ShenDun JinZhuan" battery, to enhance brand perception and operational efficiency [3][4][11]. Battery Brand Integration - Geely established Zhejiang JiYao TongXing Energy Technology Co., Ltd. to integrate JinZhuan and ShenDun short-blade batteries into the ShenDun JinZhuan brand [3]. - The integration aims to elevate both battery and vehicle brands, facilitating resource consolidation and enhancing competitiveness in the battery sector [4][11]. Product Development and Safety - The newly branded ShenDun JinZhuan battery combines the safety features of ShenDun batteries with the advanced cell technology of JinZhuan batteries, aiming for a high-end market position [6][7]. - The ShenDun short-blade battery has passed rigorous safety tests, including a unique 5.8mm bullet penetration test, while the JinZhuan battery has undergone extensive fire and pressure tests [7]. Production Capacity and Strategy - JiYao TongXing currently operates eight production bases with a total planned capacity exceeding 176 GWh, aiming for a target of 70 GWh by 2027 [12][14]. - Geely plans to source 40% of its battery needs from JiYao TongXing, with the remainder supplied by CATL and other sources, indicating a strategic shift towards optimizing existing capacities rather than expanding production [12][14]. Future Directions - Geely is focusing on transforming its business model towards energy services, exploring battery-as-a-service and battery swapping models, and establishing a battery bank [14]. - The company is also looking to integrate its electric drive and other related businesses in the near future, indicating a broader strategic consolidation across its operations [15].

Core Viewpoint - The establishment of the Shendun Golden Brick Battery brand by Geely is part of a strategic integration aimed at enhancing battery safety and performance, while also consolidating battery resources to improve efficiency and reduce costs [3][6][8]. Group 1: Brand and Product Development - Geely has integrated its battery assets under the newly formed Zhejiang Jiyao Tongxing Energy Technology Co., Ltd., which will oversee the Shendun Golden Brick Battery brand, combining the Golden Brick and Shendun Short Blade batteries [3][4]. - The Shendun Short Blade battery, launched in June 2024, and the Golden Brick battery, released in November 2023, will now be marketed under the unified brand, enhancing brand recognition and safety perception [2][4]. - The new battery design incorporates a gold insulation film, which improves high-voltage resistance to 4000V, a 30% increase compared to the previous blue film, albeit at a higher cost [3][4]. Group 2: Safety and Performance Features - The Shendun Short Blade battery has undergone rigorous safety testing, including a unique 5.8mm bullet penetration test, while the Golden Brick battery has passed industry-first tests for external fire exposure and overpressure needle puncture [4][5]. - The Shendun Golden Brick Battery will feature several product lines, including a super-fast charging series capable of charging from 10% to 80% in just 10.5 minutes, and a high energy density series with a density of 192Wh/kg and a lifespan of 3500 cycles [5][6]. Group 3: Production Capacity and Strategic Integration - Jiyao Tongxing currently operates eight production bases with a total planned capacity exceeding 176GWh, aiming for a target of 70GWh by 2027 [7][8]. - Geely plans to source 40% of its battery needs from Jiyao Tongxing, with the remaining 60% supplied by CATL and other sources, ensuring that the Shendun Golden Brick Battery will primarily serve the Zeekr, Lynk & Co, and Galaxy brands [7][8]. - The integration of battery resources is expected to streamline product development and marketing, leading to cost savings of 10%-20% in R&D and management expenses [6][8]. Group 4: Future Directions and Market Strategy - Geely aims to leverage existing global battery production capacity rather than building new factories, focusing on resource reorganization and collaboration [8][9]. - The company is exploring innovative business models, including battery-as-a-service and battery banks, to transition towards a more sustainable energy service model [8].

Core Viewpoint - The article highlights the advancements in battery technology by Geely, particularly the development of the "Shen Dun" short blade lithium iron phosphate battery, which is set to significantly enhance the company's production capacity and market position in the electric vehicle sector [3][4]. Group 1: Production Capacity and Technology - Geely's subsidiary, Jiyao Tongxing, has established the largest advanced production capacity for short blade batteries in the industry, with plans to reach a production scale of 70GWh by 2027 across 8 production bases [4][8]. - The Shen Dun short blade battery, launched on June 27, 2024, features a length reduction of 40% compared to traditional long blade batteries and an increase in thickness by 35% [3][5]. - The battery boasts a cycle life of 3,500 cycles (approximately 1 million kilometers) and supports fast charging from 10% to 80% in just 17 minutes and 4 seconds at a 2.45C rate [5]. Group 2: Safety Features - The battery has undergone extreme safety tests, including 8-pin puncture tests, 5.8mm live ammunition penetration, dynamic seawater immersion, and 26-ton crushing tests, utilizing a patented grid framework and three-layer protective design [6][7]. Group 3: Production Bases and Investment - The production bases include locations in Tonglu, Quzhou, Jianhu, Ganzhou, Shangrao, Yingtan, Ningguo, and Zaozhuang, with significant investments aimed at achieving the planned production capacity [7][8][10]. - The Tonglu base is set to achieve an annual production capacity of 12GWh, while the Quzhou base aims for 24GWh, with total investments exceeding 100 billion yuan [8][9]. Group 4: Market Position and Growth - Following the integration of its battery businesses, Geely's battery installation volume has entered the top 10 in the Chinese market, with a total of 8.24GWh installed in 2024, surpassing LG Energy [13][14]. - Geely plans to increase its self-supply ratio of batteries to 30% within two years, with current self-supplied battery volume accounting for approximately 18% of its total demand [15][16]. Group 5: Strategic Partnerships - Geely has established a strategic partnership with CATL, which has been a key supplier since 2013, and plans to expand their joint production capacity to 25GWh by 2024 [16].

Core Insights - Geely Galaxy is accelerating towards its goal of annual sales of one million units, with the launch of the 2026 Geely Galaxy E5 Long Range version on July 24, featuring upgraded range and quality while maintaining the same price as the 2024 model, ranging from 109,800 to 145,800 yuan [1] Group 1: Product Features - The new model offers five variants, with the maximum range increased from 530 km to 610 km [1] - The vehicle's battery meets stringent new national standards and has undergone optimization in chassis tuning, introducing two new colors: "Late Forest Green" and "Dawn Blue" [1] - The 610 km variant can power an induction cooker for 2 hours, a refrigerator for 3 hours, and a projector for 4 hours, enabling extended external power supply [3] Group 2: Technological Upgrades - The 2026 Geely Galaxy E5 features the upgraded Galaxy Flyme Auto intelligent cockpit system, with enhancements to the in-car navigation and HUD display [3] - A new car wash mode simplifies user preparation by automatically closing all windows and sunroofs, activating air conditioning recirculation, and disabling proximity unlocking and locking functions [3] Group 3: Safety and Market Performance - The vehicle is equipped with the "Shen Dun Short Knife" battery, which has passed multiple safety tests and certifications, setting a new safety benchmark for power batteries under 150,000 yuan [5] - Since its launch, the Geely Galaxy E5 has achieved cumulative sales exceeding 150,000 units and has become the export champion of Chinese A-class pure electric SUVs in 35 countries and regions, including Malaysia and Australia [5]

Core Points - The 2026 Geely Galaxy E5 has been launched with five variants priced between 109,800 to 145,800 yuan, with some models seeing a price increase of 2,000 yuan while others maintain the 2024 pricing [2] - The new model features improved battery range, with the standard version's range increased from 440 km to 530 km, and the long-range version's range enhanced from 530 km to 610 km [2] - The new battery, "Shen Dun Short Knife," has passed the new national standard certification and can withstand pressures significantly above the required standards [2] - The 2026 model introduces advanced features such as L2-level assisted driving, adaptive headlights, and a new color option [2] - The Flyme Auto intelligent cockpit system has been upgraded with new navigation and vehicle control features [3] - The chassis of the 2026 Galaxy E5 has undergone extensive digital tuning and testing, resulting in a 20% improvement in shock absorption performance [4]

Core Insights - The 2026 Geely Galaxy E5 has been launched with five variants, featuring significant upgrades in range and in-car technology, while maintaining the same price range of 109,800 to 145,800 yuan as the 2024 model [1][2] - The new model's low-end version has increased its maximum range from 440 km to 530 km, and the high-end version from 530 km to 610 km, enhancing user convenience and reducing charging frequency [1] - The 610 km version includes an additional 8 kWh battery, allowing it to supply power to appliances during emergencies, such as powering an electric kettle or microwave [1] Product Features - The 2026 Geely Galaxy E5 features an upgraded Galaxy Flyme Auto intelligent cockpit system, with new navigation and user-friendly functions, including a one-button car wash mode [2] - The audio experience has been enhanced with the addition of the Flyme Sound section in QQ Music, providing immersive surround sound [2] - Safety improvements include the new "Shen Dun" blade battery, which has passed rigorous safety tests, including the "8-pin puncture" test and the 5.8 mm penetration test [2] Market Performance - The Geely Galaxy brand is a key player in Geely's transition to new energy vehicles, contributing over one-third of Geely's total sales in the first half of the year, with 548,400 units sold, a year-on-year increase of 232% [3] - The launch of the Galaxy E5 is expected to further support Geely's goal of achieving an annual sales target of 3 million vehicles [3]

极氪即将成为吉利的全资附属子公司。 日前，吉利发布公告称，计划收购极氪已发行的全部股份。目前持有极氪约65.7%的股份，如交易完成，极氪将与吉利汽车实现完全合并。 图源：港交所官网 吉利认为，此次私有化是进一步落实《台州宣言》，提升资产利用效率，强化市场竞争力。 截至美东时间5月8日收盘，极氪的总市值为66.24亿美元，不及上市首日接近70亿美元的市值也大幅低于其A轮融资后的130亿美元的估值。 相较于其它在美上市的国内新能源汽车企业，蔚来的美股市值为88.94亿美元；理想为275.92亿美元；小鹏为186.24亿美元。 国际智能运载科技协会秘书长张翔认为，私有化后的极氪，能够摆脱资本市场的短期波动干扰，提升决策效率，不再受美国股票市场规则的诸多限制，从而 能够更灵活地制定战略，实现长远布局。 双重考验 去年5月，极氪成为继"蔚小理"之后第四家在美上市的中国新能源汽车公司。 上市首日极氪股价高开高走，开盘价为26美元，盘中最高触及29.36美元，最终收盘报28.26美元，较发行价上涨34.57%。 此后，股价持续走低。 据智通财经，有汽车行业投资人表示，长期以来，依附母公司吉利控股集团的极氪并不被视作一家科技 ...

Core Viewpoint - Geely is shifting its strategy from a multi-brand approach to a more integrated model, focusing on resource consolidation and technological synergy to enhance competitiveness in a challenging automotive market [2][3]. Group 1: Brand and Structural Changes - In 2014, Geely decided to cancel three sub-brands to concentrate sales resources and meet the strong demand from Chinese consumers [2]. - On May 7, Geely announced plans to acquire all issued shares of Zeekr Technology for approximately $6.5 billion, making Zeekr a wholly-owned subsidiary and consolidating its passenger car brands under Geely [2][3]. - This marks the largest adjustment in Geely's passenger vehicle system, aiming to reduce internal competition and streamline management across brands [2][3]. Group 2: Technological Integration and Cost Reduction - Following the release of the "Taizhou Declaration" in September, Geely has undertaken several integrations to minimize redundant investments and promote technology sharing, such as opening Zeekr's advanced driver assistance system to Geely's brands [3]. - Geely's passenger vehicle segment plans to collaborate deeply in areas like vehicle architecture, electronic architecture, advanced driving, smart cockpits, and power batteries [3][4]. - The battery business is identified as the most complex area of strategic integration, with the establishment of a new battery industry group named "Jiyao Tongxing" [4]. Group 3: Battery Business Strategy - Geely is reorganizing its battery-related R&D and manufacturing resources through equity acquisitions, aiming for a platform-based approach to unify R&D, procurement, and manufacturing [4]. - The existing battery brands, "Shendun Short Blade" and "Jinzhuan," will be integrated into "Jinzhuan Battery Cell," offering three versions: super fast charging, high energy density, and super hybrid [4]. - Geely aims to increase the supply ratio of Jiyao Tongxing to 30% within two years while maintaining long-term collaborations with suppliers like CATL and Sunwoda [4].

Core Viewpoint - Geely Automobile is divesting its non-core business by selling stakes in Geely Xinhua to focus on enhancing its core automotive business competitiveness [1][2]. Group 1: Transaction Details - On April 30, Geely Automobile announced the sale of 41.5% and 28.5% stakes in Geely Xinhua for 49.8 million and 34.2 million RMB respectively, resulting in Geely no longer holding any equity in Geely Xinhua [1]. - After the transaction, Geely Xinhua will be owned 70% by Zhejiang Jiyao and 30% by a subsidiary of Xinhua [2]. Group 2: Business Focus and Future Plans - Geely Xinhua, established on September 24, 2021, focuses on developing, producing, and selling hybrid vehicle battery cells, modules, and packs, with a registered capital of 100 million RMB [1]. - The company is projected to achieve a net profit of 165 million RMB in 2024, but reported a loss of 23.89 million RMB in the first quarter of 2025 [1]. - Geely Holdings announced the establishment of a new battery industry group, Zhejiang Jiyao Tongxing Energy Technology Co., Ltd., to integrate its battery businesses [2]. Group 3: Product Development - The new battery group will unify existing battery brands under the "Shen Dun Jin Zhan" brand, focusing on high-end luxury brands like Zeekr and Lynk & Co [2][3]. - The Jin Zhan battery will continue to focus on lithium iron phosphate technology and plans to launch a series of advanced battery products [3].

Core Viewpoint - The battery suppliers are capturing over 90% of the profits in the new energy vehicle (NEV) industry, while vehicle manufacturers are struggling with losses, highlighting a significant imbalance in the industry dynamics [2][3]. Financial Performance - CATL reported a revenue of 362 billion yuan for 2024, a 9.7% decrease from 400.9 billion yuan in the previous year, but its net profit increased by 15.01% to 50.745 billion yuan, averaging over 100 million yuan in daily profit [2]. - Zeekr, a major client of CATL, reported a total revenue of 113.89 billion yuan in 2024, a 39% increase, but incurred a net loss of 5.79 billion yuan, reducing its losses from 8.264 billion yuan in 2023 [2]. Industry Dynamics - The current state of the automotive industry is unhealthy, with battery suppliers profiting significantly while vehicle manufacturers face continuous losses [3]. - The cost of battery procurement accounts for approximately 40% of the total vehicle cost, exacerbating the financial strain on NEV manufacturers [2]. Strategic Moves by Zeekr - Zeekr is implementing two major strategies to address its financial challenges: 1. **Brand Integration and Cost Reduction**: Zeekr acquired 51% of Lynk & Co for 9.367 billion yuan to streamline operations and reduce overlapping R&D costs, aiming for a 20% improvement in overall operational efficiency [3][7]. 2. **Establishment of Jiyao Tongxing**: This new battery group aims to reduce reliance on CATL by developing in-house battery solutions, potentially lowering costs by 20,000 to 30,000 yuan per vehicle, which could save 6 billion yuan annually if sales reach 300,000 units [12][13]. Market Positioning - The dual-brand strategy positions Zeekr as a global luxury tech brand (above 300,000 yuan) and Lynk & Co as a high-end NEV brand (above 200,000 yuan), fostering differentiated competition [7][10]. - The integration of Lynk & Co into Zeekr is expected to enhance product development efficiency by over 15% and reduce costs across both brands [7]. Future Outlook - The ongoing changes within Zeekr and Lynk & Co are aimed at achieving better synergy and operational efficiency, while the establishment of Jiyao Tongxing signifies a strategic shift to mitigate high battery costs and challenge CATL's dominance [14][15]. - The current profit margins enjoyed by CATL are anticipated to be challenged, with the potential for a significant shift in the NEV industry's profit landscape in the near future [15].