Li shufu, Chairman of Geely Holdings, said there is a close link between smart car cockpits and smartphone technology.
China's State Administration for Market Regulation recently released a public notice of the case of Hubei Xingji Shidai Technology Co Ltd (Chinese:湖北星纪时代科技有限公司) acquiring Zhuhai Meizu Technology Co Ltd (Chinese:珠海市魅族科技有限公司).
The public notice information shows that Xingji Shidai intends to acquire 79.09% of Meizu Tech, and the transaction agreement has been signed.
Founded in 2021, Xingji Shidai's largest shareholder is Geely Group (Ningbo) Limited (Chinese:吉利集团宁波有限公司) , with a 32.31% stake. Geely Group (Ningbo) Limited is in turn 100% owned by Li Shufu, Chairman of Geely Holding Group.
In addition, Li Shufu also holds 6.15% of the shares of Xingji Shidai through his personal ownership. He also holds the position of chairman of this company, and is the suspected beneficial owner of Xingji Shidai.
Prior to the above acquisition, the majority shareholder of Meizu Tech was Chairman Huang Xiuzhang, holding 49.08% of the shares. The second shareholder is Taobao (China) Software Ltd.(Chinese：淘宝（中国）软件有限公司) with a 27.23% stake.
After the completion of the transaction, Chairman Huang Xiuzhang's shareholding in Meizu Tech will be reduced to 9.79% and Taobao China will no longer hold shares of Meizu Tech. The acquirer, Xingji Shidai, will hold 79.09% of Meizu Tech's shares and gain separate control over Meizu Tech.
As the intelligence level of automobiles increases, the intersection of cell phones and cars is becoming more and more extensive. Apple, Huawei, Xiaomi and other cell phone companies are accelerating their penetration into the automotive industry.
At the same time, automakers are also beginning to plan their entry into the cell phone sector. Li Bin, the founder of Chinese smart electric car maker NIO, has recently stated publicly that NIO will soon launch its mobile phone to match the NIO electric car.