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GELYF -- Geely Automobile Holdings Ltd. Ord COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Geely Auto to Set CK-1 CKD Project in Djakarta
HANGZHOU, May 25, 2007 (SinoCast via COMTEX) -- Geely Automobile Holdings Ltd. (0175, HK), a Hong Kong-listed automaker under the control of Geely Holding Group, settled a cooperative project of CK-1 CKD (completely knocked down) in Djakarta, capital of Indonesia on May 23, 2007. Geely International Corporation, a subsidiary of Geely Holding Group dealing in the export of Geely cars, will take charge of supplying engines and other parts for Geely cars to be assembled in Indonesia, and PT IGC International, Geely's partner in Indonesia, has got the exclusive right to assemble Geely brand cars.
CK-1, an economy sedan model developed by Geely Automobile and Daewoo Motor in South Korea, saw a sales of 70,589 cars in 2006 and sees a monthly sales of 6,000 cars on average. The entry into Indonesia will be one of the global expansion steps of Geely Automobile.
The Chinese automaker plans to produce and sell 2 million cars in 2015, two thirds of which will be exported.
-------------------------------------------------- GELYF -- Geely Automobile Holdings Ltd. Ord COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Geely Auto to Launch FC-1 Sedan on May 18
NINGBO, May 18, 2007 (SinoCast via COMTEX) -- Geely Automobile Holdings Ltd. (0175, HK), a Ningbo-based automaker in East China's Zhejiang Province, will launch FC-1, a medium-grade sedan model, in the global market on May 18, 2007. The basic type of the car is priced at CNY 74,800, the standard type is CNY 78,800, the comfort type is CNY 86,800 and the business type is CNY 103,800.
All the types of cars are equipped with CVVT-JL4G18 engine. Geely automobile has invested hundreds of millions of renminbi in the research and development on the engine. CVVT (Continuous Variable Valve Timing), which is a cutting-edge technology in automobile manufacturing in the world, is adopted in Geely's new products, helping reduce fuel consumption and improve power.
The engine's maximum power is 103 kilowatts, higher than Mitsubishi's 2.4L mainstream engines. It has been regarded as one of the most advanced engines in China by far.
FC-1 has completed its eight-month trial sale and been tested by Magna Steyr, the world famous automobile testing and assembly company.
-------------------------------------------------- GELYF -- Geely Automobile Holdings Ltd. Ord COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Geely Auto 06 Net Profit Soared 88.4%
HANGZHOU, Apr 17, 2007 (SinoCast via COMTEX) -- Geely Automobile Holdings Limited, a Hong Kong-listed (0175, HK) automobile manufacturer, gained HKD 208.75 million net profits in 2006 with an 88.44% surge year on year. The company achieved HKD 127 million turnover with a yearly 25% rise. Its gross profit margin was 13.36% with a rise of 2.7% year on year, in spite of price-cut marketing strategies.
The automaker's good performance last year was contributed by CK, a household sedan model, and MK, a compact sedan model. The two sedan models together with FC-1 represented 40% of Geely's total sales. In addition, its four affiliated companies, namely Zhejiang Geely Automobiles, Shanghai Maple Guorun Automobile Company, Zhejiang Kingkong Automobile Company and Zhejiang LandRover Automobile also made notable net profits.
The four companies made HKD 243 million net profits, higher than their 2006 amount of HKD 122 million. So Geely Automobile Holding is considering raising its stake in the four subsidiaries to 50% to adjust the company's structure. --------------------------------------------------
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