Geely Automobile Holdings Ltd

Summary (from latest quarterly report – 2015)

• Total equity  : 2.38 billion USD
• Market Cap is 27.5 billion HKD = 3.53 billion USD ( last price of the stock is 3.12 HKD )
• Geely Automobile Holdings Ltd is an automobile manufacturer engaged in development, manufacturing and sales of passenger vehicles. The Company operates in two segments; Gearboxes; and Automobiles & related parts & components.
• Equity of total company increased from 2.22 billion USD in 2014 to 2.38 billion in 2015
• Company has 1 billion USD in cash on account (from latest quarterly report -2015 year)
• Total equity – cash on account = 2.38 billion usd - 1 billion usd = 1.38 billion usd
• In 2015 company has 231 million usd long-term debt and 38.5 million usd short – term debt  (In 2014 company had 231 million usd long-term debt and 88.9 million usd short-term debt  )
• Geely balance sheet has become stronger  in 2015 (In latest quarterly report - total equity increased to 2.88 billion  USD from 2.22 in 2014, total debt was 269.5 million usd in 2015)
• Company's revenue decreased in 2014 (latest annual report) to 2.78 billion usd from 3.68 billion in 2013
• Net income decreased in 2014 to 186 million USD from 342 million usd in 2013
• In 2014 company paid 41 million usd dividend to its shareholders
• Geely Automobile 00175.HK  does NOT own Volvo , The parent compny Zhejiang Geely owns the Volvo, brand 00175 most likely manufactures parts for them at most.

Geely Automobile Holdings Ltd subsidiaries

Geely Automobile Holdings Ltd is a subsidiary of Geely (officially Zhejiang Geely Holding Group Co., Ltd). Geely (Zhejiang Geely Holding Group Co., Ltd) is a Chinese multinational automotive manufacturing company headquartered in Hangzhou, Zhejiang, China. Its principal products are automobiles, taxis, motorcycles, engines, and transmissions. It sells passenger cars under the Geely and Volvo brands and taxis under the London Taxi brand. Geely has owned the Swedish passenger car maker Volvo Cars since 2010, when it acquired the company from Ford for 1.8 billion usd. It has owned the British taxi maker The London Taxi Company since 2012.

Subsidiaries of Geely Automobile Holdings Ltd are:

• Zhejiang Kingkong Automobile Parts & Components R&D Company Limited - 45 million worth
• Zhejiang Fulin Guorun Automobile Parts & Components Co., Ltd - 48 million worth
• Zhejiang Geely Automobile Sales Company Limited - 9 million worth
• Zhejiang Jirun Automobile Company Limited - 990 million worth
• Shanghai Maple Guorun Automobile Company Limited - 390 million worth
• Zhejiang Geely Holding Group Automobile Sales Company Limited - 27 million worth
• Geely International Corporation - 45 million worth
• Zhejiang Geely Automobile Research Institute Limited - 15 million worth
• Ningbo Geely Engine Research Institute Limited - 6 million worth
• Shanghai Maple Automobile Sales Company Limited - 12 million worth
• Zhejiang Ruhoo Automobile Company Limited - 192 million worth
• Zhejiang Kingkong Automobile Company Limited - 186 million worth
• Zhejiang Geely Gearbox Limited - 6 million worth
• Hunan Geely Automobile Components Company Limited - 270 million worth
• Guilin Geely Stars Oil Electric Hybrid Engine Company Limited - 39 million worth
• Zhejiang Vision Auto-parts Fittings Company Limited - 24 million worth
• Zhejiang Shou La Shou Automobile Services Company Limited - 3 million worth
• Lanzhou Geely Automobile Industries Company Limited - 195 million worth
• Chengdu Gaoyuan Automobile Industries Company Limited - 24 million worth
• Hunan Luoyou Engine Components Company Limited - 72 million worth
• Jinan Geely Automobile Company Limited - 165 million worth
• Jinan Geely Automobile Parts and Components Company Limited - 9 million worth
• Ningbo Vision Automobile Parts and Components Company Limited - 45 million worth
• Fewin S.A - 24 million worth
• Zhejiang Geely Luoyou Engine Company Limited - 231 million worth
• Ningbo Geely Vision Auto-parts Fittings Company Limited - 6 million worth
• Ningbo Geely Luoyou Engine Components Company Limited - 132 million worth

On 8 January 2015, the Company entered into a joint venture agreement with independent third parties for the establishment of a joint venture company, Xin Dayang, to engage in the research and production of automobile parts - worth 150 million usd

Total = 3.36 billion USD

Opinion about the company

Fundamentally it is a good company and in the future we can expect its growth (total debt is acceptable  (269.5 million usd), big amount of cash on company's account, ROE is around 9 %).