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The latest update is out from Geely Automobile Holdings ( (HK:0175) ).
Geely Automobile Holdings Limited, through its subsidiary Zhejiang Powertrain, has entered into an agreement to acquire a 17.5% equity interest in InfiMotion for RMB420 million. This transaction is classified as a connected transaction under the Hong Kong Listing Rules due to the involvement of Mr. Li, a substantial shareholder and connected person of the company. The acquisition is expected to enhance Geely’s strategic positioning in the automotive sector, with the consideration to be settled from internal cash reserves.
The most recent analyst rating on (HK:0175) stock is a Buy with a HK$23.00 price target. To see the full list of analyst forecasts on Geely Automobile Holdings stock, see the HK:0175 Stock Forecast page.
More about Geely Automobile Holdings
Geely Automobile Holdings Limited is a prominent player in the automotive industry, known for manufacturing and selling passenger vehicles. The company focuses on leveraging innovative technologies and expanding its market presence through strategic acquisitions and partnerships.
Average Trading Volume: 88,670,366
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$178.5B
Find detailed analytics on 0175 stock on TipRanks’ Stock Analysis page.