BUSINESS

Geely Founder Steps Down as Auto Unit Chairman

Published: Aug. 18, 2026 2:06 p.m. GMT+8

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Li Shufu. Photo: VCG

Billionaire founder Li Shufu has stepped down as chairman and executive director of Geely Automobile Holdings Ltd., as the Chinese automaker moves to professionalize management and reduce its reliance on the founding family.

An Conghui, chief executive officer of parent Zhejiang Geely Holding Group Co. Ltd., will take over as chairman of Hong Kong-listed Geely Auto, the company announced on Monday. Li will remain Geely Auto's controlling shareholder and chairman of parent Geely Holding.

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Explore the story in 30 seconds

Li Shufu stepped down as Geely Auto chairman; An Conghui succeeded, signaling professional management transition.
H1 2026 revenue rose 15% to 173.6 billion yuan, core profit up 46%, exports jumped 158%.
Geely plans European production via Volvo and Spain plants, and Malaysian expansion via Proton by 2028.

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Who’s Who

Geely Automobile Holdings Ltd.: Geely Automobile Holdings Ltd. announced founder Li Shufu's retirement as chairman, replaced by An Conghui. H1 2026 revenue rose 15% to 173.6 billion yuan, with exports surging 158%. The company is expanding production in Europe and Malaysia to counter domestic market pressures.

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What Happened When

2010：: Geely Holding acquired Volvo Cars.

2017：: Geely Holding acquired a 49.9% stake in Proton.

September 2024：: The 'One Geely' strategy was launched.

Before 2026：: Li Shufu's son, Li Xingxing, held posts at several Geely Auto companies before being listed as a supervisor at Geely Holding in 2026. Li Shufu's daughter, Li Ni, held minor stakes in Geely Holding Group and Yaoning Technology.

First half of 2026：: Geely Auto's sales increased 1% to 1.4 million vehicles, revenue increased 15% to 173.6 billion yuan, and half-year profit dipped 1.8% to 9.09 billion yuan. Excluding foreign-exchange effects and impairment losses, core profit jumped 46% to 9.68 billion yuan. China's retail sales of passenger vehicles fell 20.2% year-on-year to 8.7 million units. Geely Auto's exports jumped 158% to more than 474,000 vehicles. The acquisition of electric-pickup maker Radar occurred.

2026：: Li Shufu stepped down as chairman and executive director of Geely Automobile Holdings Ltd. Li Xingxing was publicly listed as a supervisor at Geely Holding. The management shake-up coincided with Geely Auto's interim earnings report. Geely Auto's exports jumped 158% in the first half of the year. Geely Auto acquired a 34% stake in a Ford Motor Co. plant in Valencia, Spain, in July.

Monday, August 18, 2026：: An Conghui took over as chairman of Geely Auto. Gui Sheng Yue made remarks at an earnings briefing.

Tuesday, August 19, 2026：: Li Donghui stepped down as vice chairman, with Gui Sheng Yue taking over as vice chairman. Gan Jia Yue succeeded Gui as CEO of Geely Auto.

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