On August 17, Geely Automobile Holdings Limited (0175.HK), a company listed in Hong Kong, made an announcement stating that Li Shufu will step down from his positions as Chairman of the Board and Executive Director of the company, effective August 18, 2026. An Conghui has been designated as the new Chairman of the Board. In acknowledgment of Li Shufu's remarkable contributions to the company's growth, he has been bestowed with the title of Lifetime Honorary Chairman.

This news has given rise to a range of interpretations, such as 'Li Shufu passes the baton to An Conghui' and 'Li Shufu retreats behind the scenes.' However, the reality is that Li Shufu has merely resigned as Chairman of the Board of Geely Automobile Holdings Limited, which is a subsidiary of Geely Holding Group. Li Shufu continues to be the ultimate controller of the entire Geely Group. Apart from retaining his role as Chairman of the parent company, Geely Holding Group Co., Ltd., he also holds the positions of Chairman at Zhejiang Geely Automobile Industry Co., Ltd., Geely Technology Group Co., Ltd., and Volvo Cars, among others.

Li Shufu serves as the Chairman of Zhejiang Geely Holding Group and holds the esteemed position of Lifetime Honorary Chairman of Geely Automobile Holdings Limited.

Zhejiang Geely Holding Group Co., Ltd., headquartered in Hangzhou (originally established as Geely Group in 1996 and re-established in its current form in 2003), is the parent company overseeing the entire Geely system. Its business operations span across a wide array of industries, including automotive, finance, technology, satellites, education, sports, and mobility services. Presently, it stands as the sole multinational automotive group company in China.

Geely Automobile Group Co., Ltd. functions as a core business subsidiary of Geely Holding Group, with a primary focus on the research, development, production, and sales of passenger vehicles. It boasts passenger vehicle brands like Geely, Galaxy, Lynk & Co, and Zeekr.

Geely Automobile Holdings Limited (0175.HK), which is listed in Hong Kong, acts as the capital operation platform for Geely's core automotive assets, with Geely Holding Group serving as its controlling shareholder.

At present, Geely is making strides in implementing its 'One Geely' strategy to streamline the relationship between 'Geely Automobile Group' and 'Geely Automobile Holdings Limited.' It is consolidating the advantageous resources of the former into the listed platform of the latter, while simultaneously shutting down, merging, or transferring redundant components to establish a more efficient governance structure.

According to the latest structure following strategic integration, Geely Automobile Holdings Limited (0175.HK) now encompasses a brand matrix consisting of Geely Galaxy, Geely, Zeekr, and Lynk & Co. By integrating brands such as Geometry, LEVC, and Radar into Galaxy, and finalizing Zeekr's acquisition and integration of Lynk & Co, the company aims to streamline its passenger vehicle brands into the aforementioned well-defined matrix. Brands like Volvo and Farizon Auto, although part of Geely Holding Group, are not currently included in the portfolio of the listed company.

Currently, Zeekr, Radar, Lotus, and LEVC have been incorporated into Geely Automobile Group.

Prior to the management adjustment of the listed company, An Conghui held the positions of CEO of Geely Holding and Chairman of Geely Automobile Group. Gan Jiayue served as CEO of Geely Automobile Group and Chairman of Zeekr Technology Group. Following the adjustment, An Conghui continues to serve as CEO of Geely Holding, while also taking on the roles of Chairman of Geely Automobile Group and Chairman of the Board of the listed company, Geely Automobile Holdings Limited. Gan Jiayue now concurrently serves as CEO of Geely Automobile Group and Chief Executive Officer of Geely Automobile Holdings Limited. With An Conghui and Gan Jiayue occupying key positions in both Geely Automobile Group and the listed company, the organizational structure now clearly delineates the relationship between the two entities, facilitating research, production, operations, and capital operations in Geely Holding's main automotive sector. (End)

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