Geely’s market value hits historical high again

Shanghai June 1st, 2017 Gasgoo-Geely Auto’s share price hits a historical high again on May 31st, with the market value exceeding HKD 11b to 11.35b.

It’s analyzed that the two main reasons including Geely Group’s recent purchase of Proton and financial institutions’ optimistic evaluation on Geely push the price into historical high.

In fact, Geely Auto continues its sales surge since 2017, with the sales volume reaching 86,727 units in April and increasing 94% year-to-year. The total sales volume in the previous four months reaches 365,308 units, accomplishing 37% of 2017 annual sales target.

Geely Auto also invests greatly in overseas acquisition. Geely Group signed a binding agreement with DRB Group on May 24th, in which Geely Group would purchase 49.9% shares of Proton Auto and 51% shares of Lotus Group. Geely Group would become Proton Auto’s exclusively foreign strategic cooperative partner.

Apparently, Geely is on its prime period, with the Chairman Li Shufu’s personal value rising greatly. According to the 2017 Forbes list, Li Shufu ranks 30th among all Chinese millionaires with the wealth of USD 6.7b, topping the whole auto industry and increasing three times compared with his wealth in 2016.

If Geely keeps its excellent performance in the high-growth Chinese auto market, there are some possibilities that Li Shufu would beat BAT giants to become the richest person in China.