Geely Auto Sees an Increase of 419 Percent in Its Worth

Geely Auto Sees an Increase of 419 Percent in Its Worth 1

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”.

Geely Auto Sees an Increase of 419 Percent in Its Worth 2

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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About UsmanAnsari

A 3d animation professional with over 19 years of industry experience, an avid car enthusiast, petrolhead and social media influencer. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com

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