GELYY - Geely Automobile Holdings Limited

Other OTC - Other OTC Delayed Price. Currency in USD
28.08
-0.06 (-0.23%)
At close: 3:46PM EDT
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Previous Close28.14
Open28.12
Bid0.00 x 0
Ask0.00 x 0
Day's Range27.99 - 28.27
52 Week Range26.45 - 48.10
Volume15,561
Avg. Volume21,850
Market Cap12.82B
Beta (3Y Monthly)0.74
PE Ratio (TTM)6.56
EPS (TTM)4.28
Earnings DateN/A
Forward Dividend & Yield0.90 (3.18%)
Ex-Dividend Date2019-06-13
1y Target EstN/A
Trade prices are not sourced from all markets
  • China Electric-Vehicle Market Consolidation Expected: Automobility
    Bloomberg

    China Electric-Vehicle Market Consolidation Expected: Automobility

    Aug.20 -- Bill Russo, a former Chrysler executive and now chief executive officer of consultancy Automobility Ltd., talks about Chinese electric vehicle makers including Geely Automobile Holdings Ltd. and BYD Co., and its foreign competitors. He speaks with Bloomberg's Paul Allen and Shery Ahn on "Bloomberg Daybreak: Asia."

  • Financial Times

    Saxo chief predicts more fintech takeovers after BinckBank deal

    Saxo Bank, the Danish broker majority owned by Chinese carmaker Zhejiang Geely, expects more acquisitions in the fintech industry as established banks come under growing pressure from newer rivals. “The sector has to consolidate,” Saxo’s chief executive Kim Fournais told the Financial Times. “The cost of providing a full, regulated service for clients — that’s a big job. Geely became Saxo’s largest shareholder last year, buying a 52 per cent stake from one of the co-founders and private equity firm TPG Capital.

  • Peugeot Sale Makes Sense for Dongfeng
    Bloomberg

    Peugeot Sale Makes Sense for Dongfeng

    (Bloomberg Opinion) -- France SA’s romance with the Chinese car industry could be nearing its end.Dongfeng Motor Corp., a state-owned giant that runs joint ventures with PSA Group, Nissan Motor Co. and Honda Motor Co., is looking at options for its 12.2% stake in PSA including a sale or bond issuance backed by the stock, people familiar with the matter told Bloomberg News on Thursday.On purely financial terms, such a move makes a great deal of sense. Dongfeng bought the shares as part of a 2014 bailout of the maker of Peugeot and Citroen cars, brokered by the French government. That investment has done rather well: PSA has seen the third-best share performance in Bloomberg’s Global Automobile Valuation peer group over the past five years, after Geely Automobile Holdings Ltd. and Fiat Chrysler Automobiles NV. The 800 million euros ($897 million) Dongfeng spent at the time is now worth around 2.2 billion euros. On top of that, the operational ventures that underpinned the shareholding have seen better days. Listed subsidiary Dongfeng Motor Group Co.’s sales of Peugeot- and Citroen-branded cars fell by about half in the first six months from a year earlier and are running at less than a quarter of their level in 2015. In the key crossover SUV market, models like Citroen’s C5 Aircross and Peugeot’s 4008 have simply failed to catch fire against competition from Asian and domestic rivals.Unless there’s a serious pick-up in the second half, Dongfeng’s PSA production lines, dedicated to turning out as many as 600,000 vehicles a year, will be running at little better than 25% utilization – levels at which it should be hard for the business to make money. Losses at Dongfeng’s PSA venture were already running at the equivalent of $251 million in 2018; it would hardly be surprising if they were worse this year.Management in China clearly see little sign that sales are about to pick up. Dongfeng’s dealer network for PSA-branded cars shrank by almost 80% between 2015 and 2018, and now stands at just 666 outlets compared with 1,186 for Renault-Nissan marques. The showrooms that remain suffer low productivity, shifting an average of 400 PSA vehicles each in 2018 compared with 1,431 at Nissan outlets and 761 at Honda-branded locations. (For what it’s worth, Renault does even worse, on just 204 vehicles).There’s a more proximate issue, too. Cash has been looking a little tight for Dongfeng’s listed subsidiary of late, owing largely to a huge increase in working capital, two years of negative Ebit, and net debt of 2.15 billion euros that was running at 8.1 times Ebitda at the end of December. In the 2018 fiscal year, operating cash flows actually turned negative to the tune of about 1.25 billion euros, a relatively rare event for carmakers that aren’t in the grip of a financial crisis or corporate scandal.Dongfeng still has ample liquidity. Its ratio of short-term assets to short-term liabilities was 1.36 at the end of December, above the industry average. But China’s auto market is grim, with sales declining from a year earlier for 12 straight months even as the government ratchets up pressure to spend money on the switch to electric vehicles. Faced with such headwinds, 2.2 billion euros could come in handy.At present there’s no word that Dongfeng is planning to unwind the JV to manufacture PSA cars in China – but it would probably welcome such an outcome, especially if it could persuade its European affiliate to pay to take more control of the partnership in the manner of the deal last year between BMW AG and Brilliance China Automotive Holdings Ltd.Dongfeng’s partnerships with Nissan and Honda are clearly the better performers, and PSA may feel it needs more of a free hand to turn around its Chinese operation. If a sale of a strategic stake can help ease the path toward that happier outcome, both sides stand to benefit.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • China's BAIC buys 5% Daimler stake to cement alliance
    Reuters

    China's BAIC buys 5% Daimler stake to cement alliance

    FRANKFURT/BEIJING (Reuters) - China's Beijing Automotive Group Co Ltd (BAIC) has bought a 5% stake in Daimler, cementing their long-standing alliance after China's Geely emerged as a potential rival by also taking a stake in the German automaker. BAIC has been Daimler's main partner in China for years, operating Mercedes-Benz factories in Beijing through Beijing Benz Automotive.

  • Moody's

    Generation 2019-2 Retail Auto Mortgage Loan Securitisation -- Moody's assigns definitive ratings to Genius Auto Finance auto loan ABS in China: Generation 2019-2 Retail Auto Mortgage Loan Securitisation

    Moody's Investors Service has assigned definitive Aa3 (sf) ratings to the Class A1 and A2 Senior Notes and A2 (sf) rating on the Class B Senior Notes issued by Generation 2019-2 Retail Auto Mortgage Loan Securitisation, a domestic transaction backed by a static pool of auto loans originated by Genius Auto Finance Co., Ltd (Genius AFC) in China. Excess spread received (if any) and the liquidity reserve balance in excess of the target amount will also be fully used to repay the rated notes.

  • Moody's

    Generation 2019-2 Retail Auto Mortgage Loan Securitisation -- Moody's assigns provisional ratings to Genius Auto Finance auto loan ABS in China: Generation 2019-2 Retail Auto Mortgage Loan Securitisation

    Moody's Investors Service has assigned provisional (P)Aa3 (sf) ratings to the Class A1 and A2 Senior Notes and (P)A2 (sf) rating on the Class B Senior Notes to be issued by Generation 2019-2 Retail Auto Mortgage Loan Securitisation, a domestic transaction backed by a static pool of auto loans originated by Genius Auto Finance Co., Ltd (Genius AFC) in China. The remaining 20% of shares are held by BNP Paribas Personal Finance (BNPP PF, Aa3 stable).

  • Moody's

    Geely Automobile Holdings Limited -- Moody's: Geely's rating unaffected by 1H 2019 profit warning

    Moody's Investors Service ("Moody's") says that Geely Automobile Holdings Limited's ("Geely") profit warning for its first half 2019 results is credit negative, but has no immediate impact on its Baa3 issuer rating. On 8 July, Geely announced that it expects its first half 2019 consolidated net profit attributable to the equity holders to decline to about RMB4.0 billion from the RMB6.7 billion achieved in the first half of 2018. The expected profit decline is attributable to a decrease in overall sales volumes in the Chinese auto market, and to Geely's lowering of dealer inventories, ahead of the introduction of a new emission standard in July, that resulted in negative impact on the company's sales volumes and profit margin.

  • China tech giant Baidu partners with Geely, Toyota
    Reuters

    China tech giant Baidu partners with Geely, Toyota

    China's top search engine operator Baidu Inc has joined hands with Zhejiang Geely Holding Group and Japan's Toyota Motor Corp to cooperate on areas related to artificial intelligence (AI) amid a push for self-driving cars. Under their partnership, Geely [GEELY.UL] and Toyota have joined Apollo, an autonomous driving platform by Baidu. Baidu will provide Apollo Minibus, a software product for autonomous bus vehicles, to Toyota's e-Palette vehicles in the future, and will work with the automaker to explore more uses of autonomous driving technologies, said Li Zhenyu, vice president of Baidu who is in charge of its intelligent driving unit.

  • China tech giant Baidu partners with Geely, Toyota in self-driving push
    Reuters

    China tech giant Baidu partners with Geely, Toyota in self-driving push

    China's top search engine operator Baidu Inc has joined hands with Zhejiang Geely Holding Group and Japan's Toyota Motor Corp to cooperate on areas related to artificial intelligence (AI) amid a push for self-driving cars. Under their partnership, Geely and Toyota have joined Apollo, an autonomous driving platform by Baidu. Baidu will provide Apollo Minibus, a software product for autonomous bus vehicles, to Toyota's e-Palette vehicles in the future, and will work with the automaker to explore more uses of autonomous driving technologies, said Li Zhenyu, vice president of Baidu who is in charge of its intelligent driving unit.

  • Geely is turning to Zenuity as its self-driving software supplier
    TechCrunch

    Geely is turning to Zenuity as its self-driving software supplier

    China-based Zhejiang Geely Holdings is tapping Zenuity, the joint venture between Volvo and Swedish technology company Veoneer, as its preferred driver assistance and autonomous vehicle software supplier for its range of car brands. The decision means Zenuity's software will likely end up in vehicles under the brands Geely Auto, Geometry, Volvo Cars, performance brand Polestar, British carmaker Lotus and the subscription-based automaker Lynk & Co. Geely Holdings' total group sales last year were 2.15 million vehicles, according to the company.

  • Reuters

    UPDATE 1-China's Geely picks Swedish software firm for driverless cars

    China's Geely has chosen Zenuity, a joint venture between its Volvo car marque and Swedish technology group Veoneer , as its preferred supplier for assisted and self driving software. Geely's deal, encompassing car brands including Geely Auto , performance brand Polestar, subscription-based electric carmaker Lynk & Co and British sports car maker Lotus, provides a welcome boost for Zenuity. Veoneer said in April it was carrying out a review of Zenuity, which is focused on developing software for assisted driving features (ADAS) such as lane keeping and autonomous driving (AD), and seeking efficiencies from the venture.

  • China's Geely picks Swedish software firm for driverless cars
    Reuters

    China's Geely picks Swedish software firm for driverless cars

    China's Geely has chosen Zenuity, a joint venture between its Volvo car marque and Swedish technology group Veoneer, as its preferred supplier for assisted and self driving software. Geely's deal, encompassing car brands including Geely Auto, performance brand Polestar, subscription-based electric carmaker Lynk & Co and British sports car maker Lotus, provides a welcome boost for Zenuity. Veoneer said in April it was carrying out a review of Zenuity, which is focused on developing software for assisted driving features (ADAS) such as lane keeping and autonomous driving (AD), and seeking efficiencies from the venture.

  • Are Investors Undervaluing Geely Automobile (GELYY) Right Now?
    Zacks

    Are Investors Undervaluing Geely Automobile (GELYY) Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • South Korea's LG Chem to team up with China's Geely on EV batteries
    Reuters

    South Korea's LG Chem to team up with China's Geely on EV batteries

    South Korean battery maker LG Chem Ltd said on Thursday it had signed an agreement to set up a joint venture with China's Geely Automobile Holdings Ltd to produce batteries for electric vehicles. The joint venture would have annual production capacity of 10 GWh by the end of 2021, and its products would be supplied to Geely's electric vehicles from 2022, LG Chem said in a statement. The two parties would invest $94 million each in the venture, LG Chem said in a statement.

  • Here's Why FCAU Withdrew Its Proposal to Merge with Renault
    Zacks

    Here's Why FCAU Withdrew Its Proposal to Merge with Renault

    The deal just didn't make sense any more.

  • Moody's

    Geely Automobile Holdings Limited -- Moody's assigns Baa3 issuer rating to Geely and withdraws Ba1 CFR; outlook stable

    Moody's Investors Service has assigned a Baa3 issuer rating to Geely Automobile Holdings Limited. At the same time, Moody's has withdrawn the company's Ba1 corporate family rating (CFR). "The upgrade to Baa3 from Ba1 reflects Geely's strengthening business profile and growing market share, as a result of its improving product breadth and strength," says Gerwin Ho, a Moody's Vice President and Senior Credit Officer.

  • Foreign Automotive Industry Outlook: Treading a Rough Road
    Zacks

    Foreign Automotive Industry Outlook: Treading a Rough Road

    Foreign Automotive Industry Outlook: Treading a Rough Road

  • Fiat Chrysler (FCAU) in Focus: Stock Moves 7.2% Higher
    Zacks

    Fiat Chrysler (FCAU) in Focus: Stock Moves 7.2% Higher

    Fiat Chrysler (FCAU) saw a big move last session, as its shares jumped more than 7% on the day, amid huge volumes.