At the announcement of the Proton-Geely deal, officials from Zhejiang Geely were present to provide the media with a little insight into the company’s background. Here’s a bit of trivia to start: the company was founded in 1986 as a refrigerator maker. In terms of financials, Geely’s revenue has continuously grown over the years, from US$23 billion in 2011, to US$25.7 billion in 2014 and US$30.4 billion in 2016. The company was listed as a Fortune 500 company in 2016 (410th place), which also represents its fifth consecutive year it appeared on the acclaimed list by Fortune Magazine. Furthermore, Geely’s share price on the Hong Kong Stock Exchange (0175.HK) has increased from HK$2.56 on May 23, 2012 to nearly five times that amount, HK$12.38 on April 23, 2017. As for May 19, 2017, Geely’s share price stands at HK$11.20, with a market capitalisation of HK$99.88 billion. Geely’s growing sales volume is a strong factor for its good financials, where in 2016, the company managed to sell 765,851 vehicles, a 50% year-on-year increase. For 2017, the company’s sales target is set at one million units, while in the coming years, that number will balloon to 2.2 million vehicles yearly. As most… Read full this story
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