by CHEN Xiaotong

Zeekr Intelligent Technology Holding Ltd. said on September 15 that its shareholders voted in favor of several proposals at a special general meeting, including the merger agreement signed on July 15 with Geely Automobile Holdings Ltd. The deal, which won 94.2% approval, marks a major step in Geely's "One Geely" strategy. Once completed, Zeekr will become a wholly owned subsidiary of Geely and will delist from the New York Stock Exchange.

Geely said the same day in a filing to the Hong Kong stock exchange that it intends to acquire all issued and outstanding Zeekr shares and American Depositary Shares, excluding certain exceptions, as part of the privatization. It added that the deal is subject to conditions precedent — including shareholder approvals, regulatory filings, and legal procedures under the Cayman Islands Companies Act — and may not proceed if those requirements are not satisfied or waived.

Geely first unveiled its plan on May 7, saying it aimed to acquire all remaining Zeekr shares. The company currently holds about 65.7% of Zeekr. Under the July 15 agreement, Zeekr investors can choose between cash or Geely shares as consideration.

Geely shareholders had already given their approval on Sept 5, when independent investors voted 95.14% in favor of the privatization plan. Geely chief executive GUI Shengyue said at the company's interim results briefing that if both shareholder meetings cleared the way, the deal could close by the end of this year.

Zeekr has also integrated Lynk & Co into its operations. In February, Zeekr and Geely announced that the EV maker had completed the acquisition and capital injection of Lynk, resulting in a 51-49 ownership split between Zeekr and Geely. Lynk became a non-wholly owned subsidiary of Zeekr, which was renamed Zeekr Technology Group.

Zeekr's latest results show second-quarter revenue of 27.43 billion yuan (US$3.8 billion), down 0.9% from a year earlier but up 24.6% from the previous quarter. Net loss narrowed to 287 million yuan, an 88.8% improvement year on year and 62.4% smaller than in the first quarter.