HK Stock Market Move | GEELY AUTO (00175) rose more than 3% and plans to privatize Extreme Kryptonite pending formal approval from Extreme Kryptonite shareholders.

GEELY AUTO (00175) rose by more than 3%, as of the time of publication, it rose by 3.09% to HKD 19.03, with a turnover of HKD 1.33 billion. On the news front, on September 15th, GEELY AUTO issued an announcement regarding the latest progress of the transactions (including privatization and merger matters) proposed under the merger agreement. On September 15, 2025, in accordance with the provisions of the Companies Law of the Cayman Islands, the transactions proposed under the merger agreement received formal approval from the shareholders of the company. According to a report from Daiwa, after GEELY AUTO announced its first-half results, they updated their valuation model. The bank currently predicts that GEELY AUTO will achieve a sales volume of 3 million to 3.8 million units from 2025 to 2027, which is higher than the original forecast of 1.9 million to 2.3 million units, and they are optimistic about Geely's successful transformation in new energy vehicles, expecting more growth from overseas expansion from 2025 to 2027. The bank is optimistic about Geely benefiting from economies of scale bringing further profit improvement, as well as cost savings from internal synergies within the group.