Fully complete the annual sales! Krypton or spin-off independent listing

Geely Automobile’s high-end pure electric brand Krypton should also consider listing. On October 31, Geely Automobile announced on the Hong Kong Stock Exchange that the company had submitted a proposal to the Stock Exchange in accordance with the 15th application guideline, which proposed to split Zeekr Intelligent Technology Holding Limited and list it independently. Geely Automobile said that the Stock Exchange has confirmed that the company can carry out the proposed spin-off. The terms of the proposed spin-off (including listing place, offering scale, price range and guaranteed quota for shareholders of the company to obtain krypton securities) have not yet been determined.

In response to this, the media said: "We will disclose relevant information in a timely manner in accordance with relevant laws and regulations. The Krypton management team will put business first and ensure the completion of the delivery target of 70,000 vehicles in 2022. The recent turmoil in the capital market will not shake our confidence in the new energy market, and short-term fluctuations in the market will not affect the company’s medium and long-term development. "

ZEEKR (English name Zeekr) was established on April 15th, 2021. It is a brand-new intelligent pure electric vehicle brand owned by Geely Automobile and Geely Holding Co., Ltd., with the shareholding ratio of 51% and 49% respectively. Tianyancha APP shows that Extreme Krypton Automobile (Ningbo Hangzhou Bay New Area) Co., Ltd. was established on September 11, 2020 with a registered capital of 500 million yuan. The legal representative is An Conghui and the chairman is Li Shufu. Since its establishment, it has been financed twice. On August 29, 2021, Krypton signed strategic investment agreements with five eco-partners, including Intel Capital, Contemporary Amperex Technology Co., Limited, Billie Billie, Hongshang Group and Boyu Investment, with a total investment of 500 million US dollars, accounting for about 5.6% of Krypton’s shares after the investment. In December 2021, Geely Automobile announced that the company’s acquisition of 220 million ordinary shares from Geely Group was approved by the shareholders’ meeting. Upon completion of the delivery, Geely Automobile will own about 58.31% of the issued share capital (on the converted basis) and about 54.47% of the enlarged issued share capital. At the same time, Li Shufu, chairman of Geely Holding Group, will increase his 2% stake in Geely Automobile.

At present, only ZEEKR 001 is on sale under the brand of Krypton, which is based on the vast architecture of SEA. There are four models to choose from, and the price range is 29.90-386,000 yuan. As an important brand of Geely’s transformation to new energy, the market performance of the first model of Kyk-Kr brand is highly anticipated. According to the plan, Kyk-Kr 001 will hit the sales target of 70,000 vehicles this year. However, at the beginning of last month, Kyk-Kr released the Description on the Delivery of ZEEKR 001, indicating that due to the hot sales of the models, the orders made from now on are expected to be delivered in 2023.

The latest data shows that ZEEKR 001 has delivered a total of 45,481 vehicles since the delivery was started in October 2021. Among them, ZEEKR 001 delivered 39,474 vehicles from January to September in 2022, accounting for 56.3% of the sales target, and the remaining 43.7 will be completed in the next three months. From this point of view, ZEEKR 001 may not be able to achieve its annual sales target. Earlier, An Conghui, chairman of Geely Automobile Group, once said: Geely is full of confidence in the sales target of delivering 70,000 vehicles throughout the year and keeps the target unchanged. Whether this goal can be finally achieved remains to be verified.

According to the product launch plan, ZEEKR 009, the second mass-produced model of Krypton, will be launched tomorrow (November 1st). The new car is based on the vast architecture of Geely SEA, and it is positioned as a medium-sized MPV. After the launch, it will compete with Tengshi D9, Buick GL8, Lantu Dreamer and other models.

On August 27th, Contemporary Amperex Technology Co., Limited announced that Kykrypton became the first brand of Kirin battery in global mass production, and Kykrypton 009 and Kykrypton 001 under Kykrypton brand will be equipped with Kirin battery. Among them, Krypton 009, the first MPV model, will become the first model of global mass production of Kirin battery and will be launched in the first quarter of 2023; The Krypton 001 will become the world’s first production model with a pure electric cruising range of more than 1,000 kilometers, which will be launched in the second quarter of 2023.

In addition to the brand-new ZEEKR 009, six new models will be launched in the next three years, covering SUV, crossover and MPV market models. It is planned to achieve global sales of over 650,000 vehicles in 2025.