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-----Original Message----- Geely shares soar to record on report it’s buying Proton’s Malaysia car assembly A successful Proton bid will add 150,000 units of annual capacity to Geely’s output and give the Chinese carmaker access to Asean’s 10-member market PUBLISHED : Friday, 03 February, 2017, 6:43pm UPDATED : Friday, 03 February, 2017, 10:50pm Comments: 2 <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#comments> A Chinese visitor tries out Geely’s Emgrand car at an auto show in Nanjing. Photo Imaginechina <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#> <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#> <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#> <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#> <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#> <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#> 2 <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia#comments> Print <http://www.scmp.com/print/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia> Email <http://www.scmp.com/business/china-business/article/2067885/geely-shares-soar-record-report-its-buying-protons-malaysia> Related topics Geely <http://www.scmp.com/topics/geely> More on this story [image: Peter Horbury, the design head of Chinese carmaker Geely, at the Shanghai auto show. Photo: Bloomberg] <http://www.scmp.com/news/china/money-wealth/article/1773192/chinese-vision-carmaker-geely-english-pair-eyes> *Money & Wealth <http://www.scmp.com/china/money-wealth> * A Chinese vision for carmaker Geely, from an English pair of eyes <http://www.scmp.com/news/china/money-wealth/article/1773192/chinese-vision-carmaker-geely-english-pair-eyes> 22 Apr 2015 [image: Geely's aims for a conservative 5.6 percent growth in sales this year. Photo: Reuters] <http://www.scmp.com/business/china-business/article/1452407/byd-and-geely-record-strong-profit-growth> *China Business <http://www.scmp.com/business/china-business> * BYD and Geely record strong profit growth <http://www.scmp.com/business/china-business/article/1452407/byd-and-geely-record-strong-profit-growth> 7 May 2015 [image: Geely Chairman Li Shufu. Photo: Xinhua] <http://www.scmp.com/business/companies/article/1154993/chinas-geely-and-swedens-volvo-join-hands-vehicle-research-work> *Companies <http://www.scmp.com/business/companies> * China's Geely and Sweden's Volvo to join hands on vehicle research work <http://www.scmp.com/business/companies/article/1154993/chinas-geely-and-swedens-volvo-join-hands-vehicle-research-work> 20 Feb 2013 [image: China’s Geely Automobile posts stronger than expected 35.8pc profit growth in first half] <http://www.scmp.com/business/companies/article/2005601/chinas-geely-automobile-posts-stronger-expected-358pc-profit> *Companies <http://www.scmp.com/business/companies> * China’s Geely Automobile posts stronger than expected 35.8pc profit growth in first half <http://www.scmp.com/business/companies/article/2005601/chinas-geely-automobile-posts-stronger-expected-358pc-profit> 18 Aug 2016 [image: Chinese carmaker Geely seen attractive as positive profit alert shows strong earnings] <http://www.scmp.com/business/companies/article/2061226/chinese-carmaker-geely-seen-attractive-positive-profit-alert> *Companies <http://www.scmp.com/business/companies> * China carmaker seen attractive after positive profit alert <http://www.scmp.com/business/companies/article/2061226/chinese-carmaker-geely-seen-attractive-positive-profit-alert> 11 Jan 2017 Related Articles [image: Geely Automotive believes its hybrid sport utility vehicle Lynk & Co 01, to be produced in China but distributed globally, can win market share by targeting the lower end of the sports enthusiast market. Geely unveiled the vehicle in Berlin on October 20, 2016. Photo: Bloomberg] <http://www.scmp.com/business/china-business/article/2041036/chinas-automotive-giants-take-world-innovative-vehicles> *China Business <http://www.scmp.com/business/china-business> * China’s automotive giants take on the world with innovative vehicles without a ‘made in China’ price <http://www.scmp.com/business/china-business/article/2041036/chinas-automotive-giants-take-world-innovative-vehicles> 28 Oct 2016 [image: Geely’s Boyue is available in front-wheel drive and a four-wheel-drive version. Photo: SCMP Handout] <http://www.scmp.com/lifestyle/motoring/article/2027767/geely-boyue-suv-benefits-volvo-makeover> *Motoring <http://www.scmp.com/lifestyle/motoring> * Geely Boyue SUV benefits from Volvo makeover <http://www.scmp.com/lifestyle/motoring/article/2027767/geely-boyue-suv-benefits-volvo-makeover> 14 Oct 2016 [image: Inside a Geely assembly line in Zhejiang province. The company’s stock rallied on Tuesday after record sales in September. Photo: Reuters] <http://www.scmp.com/business/companies/article/2026966/geely-sales-hit-top-gear-september> *Companies <http://www.scmp.com/business/companies> * Geely’s shares surge after sales hit top gear in September <http://www.scmp.com/business/companies/article/2026966/geely-sales-hit-top-gear-september> 11 Oct 2016 Shares of Geely Automobile Holdings, the Chinese owner of the Volvo brand of passenger vehicles, surged to a record, as mainland Chinese traders returning from a weeklong holiday piled into the stock on report it’s buying control of a factory in Malaysia. Geely shares rose as much as 9 per cent in Friday trading, ending the day 8.4 per cent higher at HK$9.75 in Hong Kong. The stock more than tripled in the last 12 months, making it the best performer among 473 stocks on the Hang Seng Composite Index. Geely, based in the Zhejiang provincial capital of Hangzhou, is a leading contender <http://www.thestar.com.my/business/business-news/2017/02/02/geely-leads-in-bid-for-proton/> to buy a 51 per cent controlling stake in Malaysia’s largest carmaker Proton Holdings Bhd., according to a Thursday report in *The Star* newspaper, which cited unidentified sources. <http://www.scmp.com/sites/default/files/images/methode/2017/02/03/b1c5cda4-e9fd-11e6-925a-a992a025ddf7_image_hires.jpg> Geely’s shares soared to a record as investors piled into the stock following a report that the Hangzhou-based carmaker is bidding to buy control of Proton’s assembly Malaysia. <http://www.scmp.com/sites/default/files/images/methode/2017/02/03/b1c5cda4-e9fd-11e6-925a-a992a025ddf7_image_hires.jpg> The Chinese carmaker has been actively seeking overseas acquisition targets, Geely’s Hong Kong-based executive director Lawrence Ang said in a phone response to the *South China Morning Post*, without confirming or denying his company’s Proton bid. Geely <http://www.scmp.com/investor-relations/stock-quote-profile?s=175&form_build_id=&form_id=scmp_panels_page_business_stock_quote_form&op=Submit> is up against Europe’s second-largest carmaker Groupe PSA, which owns the Peugeot and Citroen brands globally, in vying for Proton. The French carmaker is already a technical partner to Proton, providing its Citroen AX model as the basis for Proton’s Tiara compact car, launched in 1995. Production of that model ended in Malaysia in 2000 amid tepid sales. The successful bidder will get access to Proton’s Tanjung Malim assembly, with the annual production capacity of 150,000 vehicles in two shifts. Owning a car assembly in Malaysia also qualifies its owner to ship vehicles tax-free anywhere among the 10 members of the Association of Southeast Asian Nations, or Asean, with a combined population of 623 million people. If the deal comes to fruition, it reflects Geely’s ambition to expand its footprint into Southeast Asia, said Robin Zhu, a Hong Kong-based auto analyst at Sanford C. Bernstein. Still, Proton has had a tumultuous history since its establishment in the 1980s, and has been reporting losses, so “it will take Geely at least one or two years to turn it around,” said Zhu, who has an “underperform” recommendation on the Chinese carmaker. As Japanese brands like Toyota, Nissan and Honda have long dominated the Southeast Asian market, Geely may need to pay very high cost to establish its presence there, he added. Geely bought control of the Volvo brand of vehicles from Ford Motor Co. for US$1.8 billion in 2010. Jeremy Lin, the Taiwanese American former New York Knicks guard who kicked off the global craze called *Linsanity* for his winning turnaround of the team, was hired to endorse Volvo. Geely also owns Manganese Bronze, the company that assembles London’s iconic black cabs, and assembles the TX4 model in Shanghai to export to Britain. Geely unveils the first model of its new Lynk & Co brand in Berlin in October 2016. Photo: Reuters Mainland Chinese investors have also been encouraged by the growth prospects of Geely, said CMB International Capital’s automotive analyst Fiona Liang. Geely last month announced a 2017 sales target of 1 million vehicles, an increase of 34 per cent from last year. The company issued a profit alert last month, forecasting its 2016 net income to more than double from 2.26 billion yuan in 2015. Its revenue per vehicle is expected at 76,000 yuan this year, up 11.1 per cent from last year, CMBI said. Liang said Geely’s product line has been welcomed by Chinese consumer and will be further enriched in 2017. Apart from the new global brand Lynk & Co, Geely will launch a couple of new cars, includes two new multi-purpose vehicle models, a new midsize SUV, a new hatchback, and the Emgrand PHEV version, extending its exposure to MPV, midsize SUV, and PHEV segments. - Very low attention - Low attention - Lower than average attention - Higher than average attention - High attention - Very high attention Documents *HOT TOPIC:* The price-to-book ratio drops below one for the first time since 1998 more 1. 1 [image: In November last year, Japanese electronics conglomerate Sony sold all its shares in Sony Electronics Huanan, and British high-street retailer Marks & Spencer announced it was closing all its China stores amid continuing China losses. 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