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Geely Automobile Holdings Ltd. Message Board

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  • toegar2000 toegar2000 Apr 16, 2009 8:02 PM Flag

    Geely Earnings Up - Dividend Increased

    They increased the dividend? Last year they stated it would be the LAST time they pay it. The link you had I couldn't open up. Does it state that in your link that they are still paying it?

    Thanks

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    • Sorry you couldn't open the link. You might want to try again. I have copied a small portion of the release.


      (HONG KONG, 16 April 2009)--- Geely Automobile Holdings Limited (“Geely
      Automobile”/the “Group”)(Stock code: 175) announced the annual results for the year
      ended 31 December 2008. The Group recorded a record growth in revenues to
      RMB$4,289 million in 2008, up 3,156% from 2007. Profit attributable to the equity holders of
      the group amounted to RMB$879 million, representing a significant increase of 191% over
      2007. Basic earnings per share for the year ended 31 December 2008 was approximately
      RMB$15.04 cents (2007: RMB$6.14 cents). The Board of Directors recommended the
      payment of final dividend of HK$1.6 cent per share for 2008 (2007: HK$1.3 cent). 2008 was
      the Group’s best performing year in its history in terms of both sales and profitability. The
      strong performance was partly due to the higher shareholdings in these operating entities,
      the Group’s five operating subsidiaries – Zhejiang Geely Automobile Company Limited
      (“Zhejiang Geely”), Shanghai Maple Guorun Automobile Company Limited (“Shanghai
      Maple”), Zhejiang Kingkong Automobile Company Limited (“Zhejiang Kingkong”),
      Zhejiang Ruhoo Automobile Company Limited (“Zhejiang Ruhoo”) and Hunan Geely
      Automobile Components Company Limited (“Hunan Geely”) – (collectively, “operating
      subsidiaries”), from 46.8% to 91% after the completion of the acquisitions in July 2008.
      Moreover, the continued success achieved by the operating subsidiaries’ Strategic
      Transformation, also resulted in improvement in product mix towards higher-end sedans,
      and product price stability during the period. The “Strategic Transformation” has so far
      yielded very positive results, as evidenced by the tremendous success of a new economy
      car platform – the “Geely Panda” – launched in November 2008 and the significant
      improvement in brand recognition and customer satisfaction by Geely’s products as
      indicated by the recent results of major industry surveys in China’s sedan market.

 
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