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GEELY AUTO: All Conditions Precedent to LYNK & CO Acquisition, Capital Injection Fulfilled; Estimated Unaudited Gain RMB6.47B
Recommend 18 Positive 23 Negative 8 |
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GEELY AUTO (00175.HK) announced that all conditions precedent to the LYNK & CO Acquisition and the LYNK & CO Capital Injection have been fulfilled and the transactions were completed on Friday (14th). The announcement revealed that following the completion of the LYNK & CO Acquisition and the LYNK & CO Capital Injection: LYNK & CO is now owned as to 49% by Ningbo Geely and 51% by Zhejiang ZEEKR (ZK.US); LYNK & CO has become an indirect non-wholly-owned subsidiary of ZEEKR and an indirect non wholly-owned subsidiary of the Company; and the financial results of LYNK & CO will be consolidated into the consolidated financial statements of the ZEEKR Group and the Group, respectively. Upon completion of the LYNK & CO Acquisition, the Group is estimated to record an unaudited gain of approximately RMB6.47 billion. This gain arises from the change in control status of LYNK & CO from a joint venture to a subsidiary. The gain represents the difference between the fair value of the 50% equity interest in LYNK & CO, and the carrying amount of the previously held interest in LYNK & CO as at 31 January 2025. This gain will be recognized in the consolidated financial statements of the Group upon completion of the transaction, in accordance with Hong Kong Financial Reporting Standards (HKFRS). AAStocks Financial News |
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