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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Geely Automobile Holdings Limited    175   KYG3777B1032

GEELY AUTOMOBILE HOLDINGS LIMITED

(175)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/23
16.3 HKD   0.00%
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Geely Auto seeks $3 billion Shanghai STAR Market listing

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09/01/2020 | 06:13am EDT
FILE PHOTO: The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show

Geely Automobile Holdings plans to raise 20 billion yuan (2.18 billion pounds)from a public share sale on Shanghai's Nasdaq-style STAR Market to invest in new car models and technologies, exchange filings showed on Tuesday.

China's highest-profile automaker, thanks to parent group investments in Daimler AG and Volvo Cars, has set its sights on bolstering its global credentials with plans to revamp factories at home and abroad using manufacturing platforms developed with Volvo Cars.

It also aims to start European exports this year of sport-utility vehicle 01 under its premium Lynk & Co brand.

The Hangzhou-based automaker, controlled by billionaire chairman Li Shufu, posted first-half net profit down 43% at 2.3 billion yuan as sales slumped by 19% to 530,446 vehicles, hit by the COVID-19 pandemic.

Geely is targeting full-year sales of about 1.32 million vehicles, down 3% from 2019, helped by a second-half recovery in demand after the easing of coronavirus lockdowns.

Under merger talks that were suspended in July, Geely's parent group had planned to merge the automaker with affiliate Volvo Cars and list the combined business in Hong Kong and possibly Stockholm.

Geely's Hong Kong-listed shares trade at 22 times trailing earnings, compared with STAR Market's average earnings multiple of 96.

Its Shanghai listing plan could also boost the company's Hong Kong-traded shares.

Semiconductor Manufacturing International Corp's (SMIC) Hong Kong-listed shares more than doubled in the six months ahead of its Shanghai listing on July 16.

Geely's planned listing would make it the first automaker on STAR Market. The market, with its streamlined listing process, dwarfed Shanghai's 30-year-old main bourse in the first half of 2020 to become the world's second-biggest IPO venue behind Nasdaq.

Geely has hired China International Capital Corp and Huatai United Securities as underwriters for the listing.

(Reporting by Samuel Shen and Brenda Goh in Shanghai and Yilei Sun in Beijing; Editing by Jason Neely and David Goodman)


Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO -3.63% 176.8 Delayed Quote.12.68%
CHINA INTERNATIONAL CAPITAL CORPORATION LIMITED 0.11% 18.98 End-of-day quote.26.36%
DAIMLER AG -0.90% 47.965 Delayed Quote.-2.85%
GEELY AUTOMOBILE HOLDINGS LIMITED 0.00% 16.3 End-of-day quote.6.96%
NASDAQ COMP. -1.64% 11358.936824 Delayed Quote.28.71%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION -0.97% 20.4 End-of-day quote.70.85%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.11% 6.68921 Delayed Quote.-3.77%
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Financials
Sales 2020 92 254 M 13 745 M 13 745 M
Net income 2020 7 232 M 1 077 M 1 077 M
Net cash 2020 17 344 M 2 584 M 2 584 M
P/E ratio 2020 18,6x
Yield 2020 1,35%
Capitalization 138 B 20 639 M 20 554 M
EV / Sales 2020 1,31x
EV / Sales 2021 1,09x
Nbr of Employees 38 000
Free-Float 58,5%
Chart GEELY AUTOMOBILE HOLDINGS LIMITED
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Technical analysis trends GEELY AUTOMOBILE HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 31
Average target price 16,37 CNY
Last Close Price 14,06 CNY
Spread / Highest target 94,5%
Spread / Average Target 16,4%
Spread / Lowest Target -48,9%
EPS Revisions
Managers
NameTitle
Sheng Yue Gui Chief Executive Officer & Executive Director
Wen Ze Xu President
Shu Fu Li Chairman
Siu Lun Ang Executive Director
Jian Yang Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
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