Geely Completes Zeekr's Privatization and Delisting from NYSE

[Corporate Integration] Geely Automobile has completed the privatization of Zeekr, which has officially been delisted from the New York Stock Exchange (NYSE).

⚡ Key Development: Zeekr Becomes Wholly-Owned Subsidiary of Geely

On December 22, Geely Automobile announced the completion of the privatization and merger transaction with Zeekr Intelligent Technology. Zeekr is now a wholly-owned subsidiary of Geely and has been delisted from the New York Stock Exchange. Shareholders were given the option to receive either USD 2.566 in cash per share or exchange shares at a ratio of 1.23:1.

🔍 Strategic Rationale: Executing Resource Integration under the Taizhou Declaration

This integration marks a critical step in implementing the 2024 Taizhou Declaration, aiming to enhance synergy between the Zeekr and Lynk & Co brands and eliminate redundant investments. In February of this year, Zeekr already acquired a 51% controlling stake in Lynk & Co. The privatization process was initiated in May and completed in just over seven months.

💡 Industry Impact: New Energy Players Return to Systematic Competition

Since its listing in May 2024, Zeekr’s market capitalization has declined from USD 11 billion to USD 5.74 billion. The privatization is viewed as a proactive strategic move to address pressures from the U.S. stock market and improve the overall operational efficiency of the Geely group.