On 22 December, 2025, Geely Automobile Holdings Limited (“Geely Automobile”, HKEX stock code: 00175), a Hong Kong Main Board listed company, completed the privatisation and merger transaction of ZEEKR Intelligent Technology Holding Limited (“ZEEKR”), a New York Stock Exchange (“NYSE”) listed company. Thus, ZEEKR became a wholly-owned subsidiary of Geely Automobile and was delisted from the NYSE (“the Transaction”).

This Transaction is a major practical action by the senior management of Geely Automobile to implement the five strategic pillars of “strategic focus, strategic integration, strategic synergy, strategic stability, and strategic talent” proposed in the company’s “Taizhou Declaration” released in 2024, and a significant milestone in the “One Geely” strategy. 

This Transaction is the first instance of a Hong Kong-listed company privatising a US-listed company through a cash/shares election. The deal involved complex regulatory compliance requirements of two stock exchanges, the NYSE and HKEX, across four locations including the Chinese Mainland, Hong Kong China, the United States, and the Cayman Islands. Li & Partners (Hong Kong) and Li & Partners (Shenzhen) Law Firm (Beijing) served as Hong Kong and PRC legal counsel for Geely Automobile in Hong Kong and the Chinese Mainland, respectively, and advised the company in every stage of the transaction. Our firm’s lawyers worked closely with Geely Automobile, financial advisors, US counsels, and related intermediaries, covering aspects from transaction proposal and planning, tight timeline coordination and implementation of each step, to preparing transaction documents, including the drafting and reviewing of relevant agreements, which allowed us to provide professional and efficient Hong Kong and PRC legal services to Geely Automobile.