Li Shufu: The redundant main body of Geely Automobile will be shut down and transferred, and the core listing platform of Geely Holdings will be strengthened.

From June 12 to 13, the 2026 China Automobile Chongqing Forum was officially held. With the theme of "shaping the future of the industry in the era of change", this forum gathered top talents from all walks of life, and conducted in-depth exchanges on topics such as innovation, long-term, globalization, AI integration, and pattern reshaping of China's automobile industry. Li Shufu, chairman of Geely Holding Group, made a speech at this year's China Automobile Chongqing Forum. In his speech, he said that enterprises should be as energetic as people, full of vitality, and have intergenerational heritage. In his view, the correct value orientation is a key variable to ensure the success of the company. For automobile companies, safety, health and sustainability are the lifeblood. Respecting intellectual property rights, respecting automobile culture, respecting automobile technology innovation, and respecting the development history of the automobile industry are the most basic values. Li Shufu revealed that in the future, the relationship between Geely Automobile Group Co., Ltd. and Geely Automobile Holdings Co., Ltd. will be further streamlined, the relevant redundant subjects of Geely Automobile Group Co., Ltd. will be shut down and turned in an orderly manner, and the core listing platform of Geely Automobile Holdings Co., Ltd. will be strengthened by concentrating superior resources, so as to build a modern enterprise operating system with a clearer governance structure, clearer powers and responsibilities, efficient operation, and global compliance, so that "One Geely" will be fully transformed from strategic consensus into system advantages, governance advantages, and global viability advantages, and a good governance environment will be created for concentrating efforts to strengthen and enlarge "One Geely". The following is the original text of the speech (car home compilation): Enterprises should be as energetic as people, full of vitality, and have intergenerational heritage. The essence and spirit of the enterprise come from the essence and spirit of the employees; the essence and spirit of the employees come from the essence and spirit of the management; the essence and spirit of the management come from the correct value orientation, from the fairness and justice deep in the soul, and from the understanding and awakening of life itself. Only on this basis can a strong motivation for future exploration be formed. Different enterprises have different methods of intergenerational inheritance, and orderly corporate inheritance is an important variable to ensure the vitality of enterprises. What is business heritage? Simply put, corporate heritage is to effectively and completely pass on the company's core values, management system and governance system to the next generation of helmsmen and all management members, to ensure that the company has strong vitality, healthy culture, efficient operation, sound strategy and clear; to always maintain the passion for entrepreneurship and innovation in a complex and changing world, and always adhere to laying the foundation and practicing internal skills; to adhere to the pursuit of truth, respecting science, and seeking truth from facts; to insist on not doing wrong things and not telling nonsense; to adhere to the ethical bottom line and the legal high-voltage line; to adhere to business norms, professional ethics, and make every effort to improve the user consumption experience. This is my understanding of corporate heritage. How to achieve a good inheritance of the company? This is the reality for every business. Likewise, Geely cannot avoid this issue, which must be carefully studied, implemented, and explored directly and seriously. In order to do a good job in the inheritance of Geely enterprises, I have planned a strategic roadmap many years ago: from the corporate governance structure, personnel adjustment, endogenous talent training, and corporate strategy transformation to the release of the Taizhou Declaration, Geely has carried out various tasks of corporate inheritance in an orderly manner. Next, we will further implement the five strategic pillars under the strategic framework of the Taizhou Declaration, further rationalize the relationship between Geely Automobile Group Co., Ltd. and Geely Automobile Holdings Co., Ltd., shut down and turn the relevant redundant entities of Geely Automobile Group Co., Ltd., concentrate superior resources to strengthen the core listing platform of Geely Automobile Holdings Co., Ltd., so as to build a modern enterprise operating system with a clearer governance structure, clearer powers and responsibilities, efficient operation, and global compliance, so that "One Geely" can be fully transformed from strategic consensus to system advantages, governance advantages, and global viability advantages, and create a good governance environment for focusing on strengthening and expanding "One Geely". In order to better cope with the unprecedented changes in the world in the past century and to better improve the competitiveness and viability of Geely Automobile Holdings Limited, we must strategically forge a management team that can fight a long war and a corporate culture that can fight a long war. To this end, we must make every effort to make Geely's corporate heritage work more solid, more detailed, and more stable, to ensure that the company is more sustainable, and to continuously provide consumers with a better consumer experience. The right values orientation is a key variable in ensuring the success of a business. The core content of corporate heritage is the inheritance of value orientation, and the correct values are the core source to ensure the healthy development of the enterprise. For automobile companies, safety, health and sustainability are the lifeblood of automobile companies. Respecting intellectual property rights, respecting automobile culture, respecting automobile technology innovation, and respecting the development history of the automobile industry are the most basic values and orientations of automobile companies. We believe that any technological achievement must have a source basis, comply with the law and be fair; any innovation achievement must have an innovation process and withstand scrutiny, just as mathematical problems must have a computational process. For automotive products, it is related to human life, we must know more about it, and we can't use the concept of short and fast to produce automobiles. Automobiles are durable consumer goods based on safety, and they do not know how to install and understand them. The birth of any new automotive product must abide by the objective law of automotive product research and development, rather than reducing the test links, compressing the test and verification time, taking shortcuts, and taking shortcuts. In order to better and more sustainably develop the Geely automobile industry, we learn from teachers, combine verticals and horizontals, invest, acquire, and share in a number of the world's oldest automobile companies with a long history and deep technical roots, deep learning the essence of automobile manufacturing technology, grasp the principles and details of automobile technology from the source, refine, learn, and learn in place, refine, do fine, and do well, constantly lay the foundation and practice internal skills, and finally achieve the strategic goal of coming first and leading in all respects. All of our efforts are aimed at providing customers with reliable and reliable automotive products that can stand the test of time. Geely and Volvo established a joint venture technology company in Sweden; set up a research and development company in Germany with Lotus; and set up a powertrain technology company in the United Kingdom with Renault and Saudi Aramco to jointly research and develop basic technologies, basic modules, and infrastructure for various aspects of automobiles. Geely's technological innovation system is a global integrated resource, global collaborative innovation, and a global innovation consortium with high integration and synergy between regionalization and globalization. Geely's path of globalization is not a solitary struggle, but a combination of global forces, combining the local capabilities and local advantages of all countries in the world with the innovation capabilities and global capabilities of Geely Automobile Co., Ltd. Equal, friendly cooperation, sincere and goodwill synergy, accumulating small streams into rivers and seas, accumulating steps and even miles. Win-win cooperation, mutual learning, and common progress are important components of Geely's values. Geely's performance in ESG is also at the forefront of the industry, which is the result of Geely's long-term efforts. We will continue to maintain excellent ESG performance, make positive contributions to the healthy development of the industry, the continuous progress of society, and the establishment of a good image for Chinese enterprises. This is the main content I share with you today, please criticize and correct. Dear colleagues in the automotive industry, we are fortunate to meet in this great era, fortunate to work in this difficult and interesting industry, we should be proud of ourselves. I firmly believe that under the glorious guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we can seize the opportunity, work together, compete in accordance with the law, shoulder the bridges for the sustainable development of China's automobile industry, and contribute to the great cause of national rejuvenation. I am absolutely convinced that we will have a better tomorrow.