0846 GMT - The proposed delisting of Zeekr could be an incremental negative for Geely Automobile, Bernstein analysts write in a note. The rationale for privatizing Zeekr, only a year after its listing, remains unclear, they add. The proposed move raises longstanding concerns on corporate governance, which could undermine Geely's credibility in future fundraising efforts, they say. That said, Geely's stock will ultimately be driven by sales volumes and earnings, Bernstein says. While Zeekr's sales momentum has been lackluster, the Galaxy brand continues to demonstrate strong delivery growth and increasing market share, which should support margin improvement, it says. Bernstein maintains its outperform rating on the company. Shares closed at HK$17.52. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 08, 2025 04:46 ET (08:46 GMT)
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