Li Shufu increases HKD 433 million worth of shares in Geely Auto

Shanghai (Gasgoo)- Li Shufu, chairman of Zhejiang Geely Holding Group (Geely Holding), purchased HKD 433 million worth of shares in Geely Auto, Geely Holding's subsidiary on May 2, according to the Stock Exchange of Hong Kong Limited (SEHK). 

Reportedly, this transaction increased Li's shareholding in Geely Auto to 46.39% of the issued capital from 46.16%.

According to the SEHK, the chairman bought 20,154,000 shares of Geely Auto on May 2 at HKD $21.479 per share, which was 2.28% higher than the closing price of HKD 21 per share on April 30. In addition, the stock of Geely Auto closed at HKD 21.65 on May 2.

In the first quarter this year, Geely Auto boasted a year-on-year sales jump of 39% to 386,296 vehicles, completing 24% of its 2018 sales target 1.58 million units.

With regard to sedan models, 65,408 units of the new Emgrand were delivered in the first three months. Meanwhile, the deliveries of the all-new Vision and the Emgrand GL reached 46,651 units and 37,620 units in the first quarter, surging 16.74% and 42.6% year on year respectively.

As to SUVs, Geely Auto delivered 72,538 units of the Boyue from January to March, jumping 19.41% from a year ago. On March 15 this year, the 2018 Geely Boyue went on sale with official suggested price ranging from RMB 98,800 to RMB 159,800.