Geely to Streamline Redundant Entities, Focus on Strengthening Core Listed Platform

On June 13, 2024, at the 2026 China Automotive Chongqing Forum, Li Shufu, Chairman of Geely Holding Group, delivered a video speech titled "Corporate Succession and Value Orientation." He stated that to advance corporate succession, Geely formulated a strategic roadmap years ago covering governance structure optimization, personnel adjustments, internal talent development, and strategic transformation, and has since released the "Taizhou Declaration." Li emphasized that the next step is to implement five strategic pillars under the framework of the Taizhou Declaration, clarify the relationship between Geely Automobile Group Co., Ltd. and Geely Automobile Holdings Limited (HKEX: 0175), systematically wind down or restructure redundant entities under the former, and concentrate resources to strengthen the latter as the core listed platform. The goal is to build a modern enterprise operational system characterized by clear governance, well-defined responsibilities, efficient operations, and global compliance—transforming the strategic consensus of “One Geely” into tangible advantages in systems, governance, and global competitiveness. He stressed that automobiles are directly linked to life safety and must adhere to the objective laws of R&D, rejecting any shortcuts or attempts to compress validation cycles. To this end, Geely has invested in, acquired, or taken stakes in several long-established international automakers to deeply study automotive engineering principles and solidify its technological foundation. Furthermore, Geely has established a joint venture technology company with Volvo in Sweden, set up an R&D center in Germany with Lotus, and formed a powertrain technology company in the UK with Renault and Saudi Aramco to jointly conduct fundamental technology research, thereby creating a globally integrated innovation ecosystem. Li also affirmed Geely’s commitment to win-win collaboration, respect for intellectual property and automotive culture, and its continuous leadership in ESG performance within the industry.