Zeekr Group Announces the Closing of Strategic Integrated Transactions

Rhea-AI Summary

Zeekr Group (NYSE: ZK) has announced the completion of previously disclosed Strategic Integration Transactions with Geely entities. The transaction, which was initially announced on November 14, 2024, has resulted in Lynk & Co becoming an indirect non-wholly-owned subsidiary of Zeekr Group. This strategic move marks a significant development for the premium new energy vehicle group.

Positive

• Strategic acquisition of Lynk & Co expanding Zeekr's business portfolio
• Enhanced market position through integration with Geely entities

Negative

• Potential financial impact of acquisition not disclosed
• Non-wholly-owned subsidiary status indicates control over Lynk & Co

News Market Reaction

+5.96%

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+5.96% News Effect

On the day this news was published, ZK gained 5.96%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HANGZHOU, China, Feb. 14, 2025 /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("Zeekr Group" or the "Company") (NYSE: ZK), the world's leading premium new energy vehicle group, today announced the closing of Strategic Integration Transactions with Geely entities that was previously announced on November 14, 2024. Following the completion of such transactions, Lynk & Co has become the Company's indirect non-wholly-owned subsidiary.

Capitalized terms not otherwise defined herein shall have the same meaning as defined in the Form 6-K filed with the Securities and Exchange Commission in relation to the Strategic Integration Transactions on November 14, 2024.

About Zeekr Group

Zeekr Group, headquartered in Zhejiang, China, is the world's leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain and electric vehicle supply chain. Zeekr Group's values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider.

For more information, please visit https://ir.zeekrlife.com/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward- looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "future," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

ZEEKR Intelligent Technology Holding Limited
Investor Relations
Email: ir@zeekrlife.com

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: Zeekr@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: Zeekr@thepiacentegroup.com

Media Contact

Email: Globalcomms@zeekrgroup.com

 

View original content:https://www.prnewswire.com/news-releases/zeekr-group-announces-the-closing-of-strategic-integrated-transactions-302376798.html

SOURCE ZEEKR Intelligent Technology Holding Limited

FAQ

What is the significance of Zeekr's Strategic Integration Transaction with Geely?

The transaction resulted in Lynk & Co becoming an indirect non-wholly-owned subsidiary of Zeekr Group, expanding their presence in the premium new energy vehicle market.

When did Zeekr Group (ZK) complete its Strategic Integration Transaction?

Zeekr Group completed the Strategic Integration Transaction on February 14, 2025, following the initial announcement made on November 14, 2024.

What is the new relationship between Lynk & Co and Zeekr Group (ZK)?

Following the transaction, Lynk & Co has become an indirect non-wholly-owned subsidiary of Zeekr Group.

How does the Geely transaction affect Zeekr's (ZK) market position?

The transaction strengthens Zeekr's position in the premium new energy vehicle sector through strategic integration with Geely entities and the addition of Lynk & Co to its portfolio.