Summary by Futu AI
Geely Automobile announced on November 14, 2024, that its indirectly wholly-owned subsidiary Zhejiang Zeekr will acquire 20% equity of Lynk & Co and subscribe to the additional capital, with a total transaction price of RMB 3,967,346,940. In addition, Geely Automobile signed component procurement and R&D service agreements with Yikatong (Hubei), Zhejiang Huanfu, and Hangzhou Langge, lasting until the end of 2027, with an annual maximum total amount of RMB 6,489.889 million. The acquisition of Lynk & Co and the capital increase of Lynk & Co constitute related transactions, requiring independent shareholder approval. Geely Automobile will convene a special general meeting of shareholders for independent shareholders to consider and approve the relevant transactions. After the completion of the transaction, Lynk & Co will become an indirectly non-wholly-owned subsidiary of Zeekr, and its financial performance will be included in the comprehensive financial statements of Geely Automobile Group.