On December 9, Geely Automobile Holdings Limited (0175.HK, hereinafter referred to as "Geely Automobile") issued an announcement disclosing the results of the shareholder consideration selection in the privatization transaction of JK Intelligent Technology Holdings Limited (NYSE:ZK, hereinafter referred to as "JK").
It is understood that approximately 70.8% of eligible Geely Krypton holders opted for share consideration, and Geely Automobile will allot and issue a total of 777,228,611 consideration shares to them. Approximately 29.2% of eligible Geely Krypton holders opted for, or are deemed to have opted for, cash consideration, and Geely Automobile will pay a total of approximately US$701 million in cash. This move marks the final stage of the return to "One Geely".
According to the plan, the merger between Geely Automobile and JKJ will be completed on or before December 29, 2025. This will lay a solid foundation for Geely Automobile to build a superior cost advantage, enhance the competitiveness of its brand matrix, and strengthen its global market influence. Geely Automobile will achieve comprehensive coverage of the mainstream, mid-to-high-end, and luxury market segments, forming a diversified power system of "gasoline + pure electric + plug-in hybrid + hydrogen-powered," further strengthening its intelligent manufacturing and technological innovation capabilities, and committed to the continuous improvement of profitability and long-term shareholder returns.
