Hong Kong stock morning report | The Federal Reserve maintained interest rates, and the three major U.S. indexes closed higher. China Concept Stocks broadly declined.
① The Federal Reserve maintained the benchmark interest rate, which met market expectations. ② Federal Reserve Chairman Powell stated that the impact of tariffs is greater than expected and there is no rush to cut interest rates. ③ The three major indexes of the U.S. stock market closed higher, while China Concept Stocks generally fell. ④ The central bank stated that it will make every effort to promote the implementation of a package of financial policies. ⑤ International crude oil and Gold Futures prices fell more than 1%.
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What's Going On With Zeekr Stock Today?
Zeekr Shares Jump as Geely Offers $2.2B to Take EV Unit Private
Within just one year of being listed, Geely plans to privatize ZEEKR, Li Shufu said: "Returning to a single Geely."
One year after ZEEKR went public, Geely chose to privatize it, further integrating its automotive brands. In the past six months, more and more of Geely's subsidiaries or sub-brands, such as Geometry, Lynk & Co, Yizhen, and Radar, have been merged. As the new energy market approaches saturation, the shift from pursuing scale to pursuing profit is the inherent logic behind this internal consolidation.
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One year after ringing the bell on the NYSE, ZEEKR plans to be delisted. Li Shufu: Returning to a Geely.
On May 7th, Geely Autos announced after the Hong Kong stock market that the company proposes to privatize ZEEKR by acquiring all issued and outstanding ZEEKR shares and American Depositary Shares (excluding the group's beneficial owners). The Chairman of Geely Holding Group, Li Shufu, stated that in the face of fierce market competition and an increasingly complex economic environment, the company will continue to promote the integration of its Autos Business and return to being one Geely.
Express News | Geely's Chairman: Will Continue to Maintain Close Communication and Cooperation With the US and International Capital Markets - Company Statement
Express News | Geely's Chairman: Promoting Integration of Auto Business in the Face of Fierce Market Competition and Increasingly Complex Economic Environment - Comapny Statement
Geely Automobile Proposal to Value Zeekr at $2.566/Shr, or $25.66/ADS
BREAKING: Geely Proposes to Privatize Zeekr
Geely Automobile Plans to Acquire All Issued and Outstanding Shares and ADSs in Zeekr
Geely Autos (00175.HK) submitted a non-binding Quote letter to ZEEKR, initially indicating its intention to propose privatization.
On May 7, Geely Autos (00175.HK) announced that to promote deep integration of internal resources and efficient collaboration, eliminate redundant investments, reduce costs, enhance corporate competitiveness, and create long-term value, the company submitted a non-binding Quote letter to ZEEKR on May 7, 2025. Accordingly, the company initially expressed its intention to propose privatization and acquire all issued and outstanding shares of ZEEKR and American Depositary Shares (excluding the beneficial owners of the group), but this must be confirmed through further negotiations and the signing of a final agreement. The company suggested a price of $2.566 per share of ZEEKR or $2 per American Depositary Share.
ZEEKR personnel adjustments: Lin Jie will be responsible for the overall work of domestic marketing services for the ZEEKR brand.
Sina Technology reported on the morning of May 7 that ZEEKR Technology Group recently announced personnel adjustments internally. Lin Jie will be responsible for the overall domestic marketing of the ZEEKR brand. The notice stated that to adapt to the strategic development and operation needs of ZEEKR, enhance organizational efficiency, and fully implement the culture of rotating cadres, the following arrangements are made: Among them, Lin Jie, Vice President of ZEEKR Technology Group and General Manager of Lynk & Co Sales Company, will oversee the overall domestic marketing of the ZEEKR brand, directly managing the Brand Marketing Center, User Growth Center, and User Delivery Center; Lin Jinwen, Vice President of ZEEKR Technology Group, will directly manage the User Service Center, User Network Center, and users.
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Express News | U.S.-listed Chinese stocks surge at the opening, with Alibaba up over 4%.
Express News | U.S.-listed Chinese stocks surge in overnight trading, with Alibaba up over 4%.
Chinese Automakers Report Robust Sales Growth in April
Zeekr Group Delivers 41,316 Cars in Apr, With Lynk & Co Seeing 47% YoY Growth
Express News | Zeekr Intelligent Technology Holding Ltd - Group Delivers 41,316 Vehicles in April, up 1.5%