On the morning of the 11th, Geely Holding and Baidu both announced that they will form a smart electric vehicle company. Baidu said that on January 11, 2021, Baidu entered the automobile industry as a vehicle manufacturer. Geely Holding Group will be a strategic partner of the new company.
Baidu and Geely Auto announced that they will join hands to "build a smart electric vehicle".
Geely Holding stated that the cooperation will be based on Geely's latest research and development of the world's leading pure electric architecture - SEA vast intelligent evolution experience architecture. The architecture is based on the cutting-edge technology of global smart electric vehicles, breaking through the boundaries of traditional car manufacturing. Through the integration of hardware layer, system layer and ecological layer, it is committed to building a future travel service system with infinite interaction and extension, providing users with Continuously optimized personalized services and growing mobility life. The architecture will be open to strategic partners.
It is reported that this cooperation is another "hand-in-hand" between Geely and Baidu. The two parties have previously engaged in intelligent networking, intelligent driving, smart home, e-commerce and other fields Extensive cooperation.
In fact, the stock prices of the two companies have soared along with the news of "co-manufacturing".
Beijing On the evening of the 10th, Baidu's share price rarely rose by 15.57%, and its market value increased by US$11 billion overnight, or about 70 billion yuan. The final share price closed at US$242 per share. The market value also stood at $80 billion after two years.
Last Friday (January 8), the Hong Kong stock Geely Auto soared by more than 20% during the session, and the stock price reached a high of HK$33.85, hitting a new stage high. The latest total market value is HK$326.8 billion .
GeelyAuto stock price
Baidu stock price
It is worth mentioning that on the morning of the 11th, Geely Auto issued an announcement in response to "Geely's" According to rumors, the Company is not a party to the proposed transaction and has not cooperated with or provided financing to Geely Holding in relation to the proposed transaction. The controlling shareholder of Geely Auto is Geely Holding.
The announcement states that, after making reasonable enquiries about the Company in the relevant circumstances, the Board of Directors confirms that it is not aware of any reasons for the changes in the price of such shares, or any reasons that must be announced to avoid the Company Securities information on a false market, or any inside information.
However, Geely Auto said, "If theThe proposed transaction is implemented, in compliance with the Securities Listing Rules of The Stock Exchange of Hong Kong Limited, and in consideration of the overall interests of the company and its shareholders, the company does not rule out the possibility of seeking potential cooperation opportunities with Baidu. . "
In addition, the announcement stated that since Geely Holding is a substantial shareholder indirectly holding approximately 40.94% of the Company's issued share capital, and is an associate of Mr. Li Shufu, an executive director of the Company, for the purposes of the Listing Rules, Geely Holding is an associate of Mr. Li Shufu, an executive director of the Company. The holding is a connected person of the Company, Therefore, if any substantial cooperation between Baidu and the Company constitutes a notifiable transaction and/or a connected transaction of the Company, the Company will comply with the relevant Listing Rules requirements. The Company will make further announcements as necessary to provide the market with relevant information.