On October 6, Geely Automobile Holdings Limited announced that its board has approved a share repurchase plan of up to HK$2.3 billion. The move aims to demonstrate the company’s confidence in its business outlook and future prospects, while utilizing its existing financial resources to support the implementation of the plan.
Geely Automobile, incorporated in the Cayman Islands, is listed on the Hong Kong Stock Exchange (stock code: 175) . According to the general share repurchase mandate granted at the annual general meeting on May 30, 2025, the company is authorized to repurchase up to 1,008,392,703 shares, representing approximately 10% of the total number of issued shares as of the date of the meeting. The repurchased shares will be canceled to optimize the company’s capital structure.
The company stated that the approved share buyback plan will be executed through automated trading mechanisms in the open market under the repurchase mandate. The implementation of the plan will be subject to certain conditions, including obtaining a waiver from The Stock Exchange of Hong Kong Limited in strict compliance with Rule 10.06(2)(e) of the Listing Rules.
Geely’s board believes that the implementation of the plan is in the overall best interests of the company and its shareholders. Conducting a share buyback amid current market uncertainties reflects the company’s strong confidence in its business outlook and long-term prospects. The board also believes that Geely’s existing financial resources are sufficient to support the buyback plan while maintaining a sound financial position.