On September 29, GEELY AUTO fell 3.46% in regular trading, trading at HKD 15.64 per share, with turnover of approximately HKD 66.35 million. The decline followed a session on September 28 in which the stock had rallied over 3% on the announcement of a comprehensive charging and battery-swap strategic partnership with NIO, with the current move exhibiting classic profit-taking characteristics.
On September 28, GEELY AUTO's parent Geely Holdings formally signed an agreement to invest 100% equity of its subsidiary Yi Yi Hulian plus RMB 640 million in cash into NIO Energy, acquiring a 30% stake at a post-money valuation of approximately RMB 16 billion. Concurrently, NIO subscribed for a 10% stake in Geely's Haohan Energy, establishing mutual access across both parties' charging networks. Geely's stake is tied to operational milestones and could be adjusted down to no less than 20% if targets are missed, while Geely retains a two-year option to invest an additional RMB 640 million to raise its holding to 34%.
As the market further digested the deal specifics, concerns over Geely's near-term financial outlay — involving both asset injection and significant cash expenditure — prompted some investors to lock in gains. The broader auto manufacturing sector also traded under pressure, with BYD COMPANY down 1.67%, LI AUTO-W down 1.62%, and XPENG-W down 1.64%, reinforcing the weak sectoral sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)