Geely sent knives to suppliers to bargain? The latest response from both parties!
Source: Securities Times Author: An YuFei Che Auto Enterprises not only send letters to suppliers to negotiate prices, but also "give knives"? Geely has clarified! Recently, the news that "BYD (01211.HK) and SAIC Datong are asking suppliers to reduce prices by 10%" has been fermenting. The incident of the general manager of Geely Automotive (00175.HK) parts purchasing company giving a knife to Chen Yudong, former president of Bosch China in 2023, has also been dug out, interpreted as Geely "sending a knife to negotiate prices." On November 29, Chen Yudong responded on his social media saying: "The knife is real, and the person who gave the knife is a good brother, not for price reduction."
Shenzhen Longli Technology (300752.SZ): Mini-LED and led & optoelectronics automotive display products have been successfully applied to Geely Automobile Group's Geely Star Wish and zeekr brands.
On November 29, Gelonghui reported that shenzhen longli technology (300752.SZ) announced in an investor relations meeting that Geely Auto Group is the company's end customer. The company's Mini-LED and led & optoelectronics vehicle display products have been successfully applied to Geely Auto Group's two brands, Geely Xingyuan and zeekr. The zeekr's first luxury five-seat SUV, the zeekr 7X, features a 16-inch Mini-LED central control screen and a 13.02-inch semi-arc LCD instrument panel screen, while the Geely Xingyuan uses a 14.6-inch floating touch central control screen and a 6.03-inch armrest screen, all of which utilize the company's vehicle display products. In the future, the company will continue to expand.
Hefei issued 44 million yuan in consumer vouchers and Ideal launched a zero-interest financial plan. Local governments and car companies are competing for the year-end "consumption wave".
① On November 29, according to the Hefei Municipal Bureau of Commerce, from November 29 to December 8, 2024, new consumer vouchers for autos will be issued in Hefei, totaling 44 million yuan. ② On the same day, Li Auto announced a limited-time 0% interest policy until the end of the year. From now until December 31, users purchasing the Li L-series and Li MEGA can enjoy a minimum down payment financing plan with 0% interest for 3 years.
Geely autos (00175) issued 0.3055 million shares due to the exercise of warrants.
Geely autos (00175) announced that on November 29, 2024, the company's employees exercised their stock options based on the group...
Survey: BYD (01211.HK) ranks as the sixth largest best-selling car manufacturer globally.
According to data released by automobile manufacturers and research company MarkLines, statistics show that in the third quarter of this year, global automobile sales increased by 38% for BYD (01211.HK) to 1.13 million vehicles, making it the sixth best-selling automobile manufacturer in the world, surpassing one of the three major automobile manufacturers in the usa, Ford (F.US), for the first time. During this period, Zhejiang Geely's sales grew by 14% to 0.82 million vehicles, ranking from 11th last year to 9th this year, marking the first time that two Chinese automobile companies entered the global top ten. Toyota, which ranked first, experienced a 4% decrease in sales to 2.73 million vehicles during this period due to issues related to certification violations and other factors.
Research reports- htsc: Raised Geely Autos' target price to 20.61 Hong Kong dollars, strong new car cycle next year.
Gelonghui on November 29th: HTSC's report states that Geely Autos' third-quarter revenue was 60.4 billion yuan, up 20% year-on-year and 10% quarter-on-quarter; net income was 2.5 billion yuan, up 88% year-on-year. In the first three quarters, the company's revenue was 167.7 billion yuan, up 36% year-on-year; net income was 13.1 billion yuan, up 358% year-on-year. The company's new energy brand turned losses into profits, department integration steadily progressing, maintaining a "buy" rating. The report mentioned that since August, the Galaxy brand has successively released the E5 and Xingyuan models. With the advantage of superior space and smooth car machines, they quickly penetrated the mainstream consumer market. The bank believes that with these 3 models,
HTSC raises the target price for Geely (00175.HK) to 20.61 yuan and adjusts the earnings forecast.
HTSC issued a report stating that Geely (00175.HK) third quarter revenue was 60.4 billion RMB (the same below), an increase of 20% year-on-year and 10% quarter-on-quarter; net profit was 2.5 billion RMB, an increase of 88% year-on-year and a decrease of 72% quarter-on-quarter, the quarter-on-quarter decline was due to the sale of subsidiary companies generating 7.5 billion non-recurring gains and losses. The company's revenue for the first three quarters was 167.7 billion RMB, a 36% year-on-year increase; net profit was 13.1 billion RMB, a 358% year-on-year increase. The company's new energy brand turned losses into profits, departmental integration steadily progressing, maintaining a 'buy' rating. The report mentioned that since August, the Yinhe brand has successively released E5 and Xingyuan two vehicle models.
Hefei will start issuing 44 million RMB automobile consumption vouchers from today, with electric vehicles eligible for a maximum discount of 6,000 RMB.
The Hefei Municipal Bureau of Commerce announced that from today (28th) to December 8th, a total of 44 million yuan will be distributed for the "2024 Hefei Automobile New Consumer Voucher", with the highest discount of 6,000 yuan for new energy vehicles. There will be 336 automobile enterprises participating in the event. It is reported that individual consumers purchasing non-operational automobiles (including gasoline vehicles and new energy vehicles, excluding used cars) from automobile retail enterprises participating in the event can receive and use the consumer vouchers. During the event, consumers using UnionPay cards starting with 62 to pay for the car purchase at the participating automobile sales outlets using the designated POS machine can enjoy installment payments.
Daily Bull and Bear | The Hang Seng Index futures closed at 19,455 points, with an inflow of 61 million HKD in net long positions yesterday! HSBC: Meituan will announce results today, pay attention to related warrants.
As of the close, the Stock Market had a turnover of 108.2 billion Hong Kong dollars; the total turnover of all Warrants amounted to 11.8 billion Hong Kong dollars, accounting for 10.9% of the market turnover, with a 6.9% proportion of Bullish Warrants and a 4.1% proportion of Bearish Warrants.
Troubles within and without for American car manufacturers: Trump's tariffs and the "price war" in the China car market.
Tariffs may lead to price increases and a decrease in demand. Meanwhile, the fierce price competition in the china automotive industry will pose challenges for usa car companies' operations in china.
Geely autos (0175.HK): Q3 revenue reached a historical high, zeekr and Lynk & Co global strategy integration.
In the third quarter of 2024, the revenue was 60.4 billion yuan, with a year-on-year and sequential growth of +20% and +10%, respectively; the net income attributable to the parent company was 2.5 billion yuan, with a year-on-year growth of +88% and a sequential decline of -72%. The sequential decline was due to a non-recurring gain of 7.5 billion yuan from the sale of a subsidiary in the second quarter.
Southbound funds bought over 7.8 billion Hong Kong dollars on November 28: continue to increase holdings in Alibaba and Meituan, and shareholdings in Xiaomi Group.
① The southbound funds traded approximately 38.7 billion Hong Kong dollars that day, which stocks are seeing sustained inflow? ② alibaba saw an inflow of over 0.5 billion Hong Kong dollars, how did the stock price perform?
Zeekr (ZK.US) opened its 500th store in Singapore, expecting to reach 520 stores globally by the end of the year.
According to internal media reports, Geely Automobile (00175.HK)'s high-end electric car brand Zeekr (ZK.US) opened its 500th store globally today (28th) in Singapore. The report mentioned that Zeekr currently operates 447 stores in mainland China and 53 stores overseas, covering over 40 markets including Sweden, Australia, the United Arab Emirates, Singapore, Mexico, Egypt, etc. It is expected that by the end of this year, the global number of stores will reach 520. (js/k)~
China Automobile Circulation Association: From November 18 to 24, the average daily trade volume of used cars was 0.0655 million vehicles, a decrease of 1.76% compared to the previous period.
In the third week of November, the daily average trading volume of used cars was 65,500 vehicles, a decrease of 1.76% compared to last week, but an increase of 2.1% compared to the same period in October.
Express News | Jiangsu Hengrui Pharmaceuticals: Some of the company's products have been included in the national medical insurance catalog.
Geely autos issued 0.0225 million shares due to the exercise of stock options.
Geely Autos (00175) announced that on November 28, 2024, the company issued 0.0225 million shares due to group employees exercising stock options under a stock option plan (adopted on April 28, 2023).
Express News | Jiangsu Hengrui Pharmaceuticals four varieties of products outside the catalog enter the medical insurance catalog.
Macquarie in "The Big Action": Believes the market still underestimates Geely's (00175.HK) potential driving role of its mid-term electric vehicle strategy.
Morgan Stanley's report stated that, regarding the merger and acquisition trade of Lynk & Co and zeekr (ZK.US), Geely's (00175.HK) management reiterated that Lynk & Co's valuation is reasonable and transparent, Geely does not need cash for this trade, and the merger of Lynk & Co and zeekr can eliminate product overlap between the brands, avoiding sales erosion. The management also mentioned that Geely recently saw Chairman Li Shufu personally increase shareholding by 24.2 million shares, involving 0.316 billion yuan, demonstrating confidence in the value of the trade. In addition, the bank believes that Geely is expected to achieve sales goals surpassing 2 million vehicles by fiscal year 2024 and achieve exports of 0.38 million vehicles, anticipating the reality.
Market Movement Update | Geely Autos rises over 5%, with Li Shufu investing over 0.3 billion HKD in shareholding.
According to the equity disclosure documents from the Hong Kong Stock Exchange, Li Shufu, the chairman of the board of directors of Geely Autos, purchased a total of 24.2 million shares of Geely Autos on November 26 and November 27, costing approximately 0.316 billion Hong Kong dollars based on the average price calculation.
Geely autos rose more than 5% in early trading, with Li Shufu investing over 0.3 billion Hong Kong dollars in shareholding.
Geely autos (00175) opened high in the morning, and as of the report, the stock price has risen by 5.02%, reaching HKD 13.80, with a turnover of HKD 0.537 billion.