Geely Auto Sees an Increase of 419 Percent in Its Worth

On February 21st, 2017 Geely Auto’s worth rose from HK $2.722 to HK $11.4, with a net increase of 419%, creating a new record. Although recently Geely Auto’s share price fell slightly, the total market value is still up to HK $42 billion (about 37,200,000,000 yuan), considering that Li Shufu, the owner & chairman of the company holds 44.5% shares of Geely Auto.

On the “2016 Hurun Rich List” with 37,200,000,000 yuan, Geely ranked 37th, only next to the Great Wall Motors, Wei Jianjun and Han Xuejuan (39,500,000,000 yuan), while Li Shufu and his son ranked 50th with 30,500 ,000,000 yuan.

Related: Great Wall Motors- 1 Million Vehicles Sold in 2016

From August 15th to now, Geely shares rise by 85%, which means Li Shufu’s shares have risen by about 19,300,000,000 yuan. With 49,800,000,000 yuan, Li Shufu and his son can rank 22nd on “2016 Hurun Rich List”.

Thanks to the acquisition of Volvo in 2010, after 6 years of integrated development, Geely brings amazing results. Operating profit of Volvo in 2016 is SEK11 billion, an increase of 66%. Its global sales in 2016 reached 534,000 units, which is a record high. Hakan Samuelsson, CEO of Volvo, said, “Volvo’s sales will make another record in 2017”. Volvo’s technology began to penetrate the Geely Auto Products, which led to the rise in sales.

Related: Geely’s Lynk & Co Launches New ‘01’ SUV

It is interesting that Li Shufu, who is the largest shareholder of Geely Auto, has always been optimistic about the development of the company so he continues to increase equity in Geely Auto. Geely also bring huge returns to investors since its list. Its share price raises from HK $0.524 on 2nd January 1998 to HK $10.66 on 1st March 2017, an increase of nearly 20 times.

 

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UsmanAnsari
A car enthusiast associated with the 3D Animation industry of Pakistan since year 2000 having worked with leading organizations and production facilities across Pakistan. Passionate about cars ever since, and a strong desire to see the automobile industry of Pakistan flourish in true means, Usman Ansari has a vast experience of writing for major automobile portals of the country. Drives a Honda City SX8 as a daily runner, as well as a 10th generation Toyota Corolla Gli. CarSpiritPK.com was initiated by Usman Ansari in May 2016.

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