In fact, Geely still has one last, important step before successfully landing on the board: gaining a registration permit from the SEC.
On September 28, the Shanghai Stock Exchange showed that the listing committee of the SSE's Science and Technology Venture Board had agreed to Geely's request for initial offering and listing.
However, six months have passed and Geely's IPO is still in limbo, with no prospectus plan disclosed at this time.
In fact, Geely is still missing a crucial stage, namely the registration permit from the Securities and Futures Commission.
The slow progress of listing on the STAR board may be related to the technological achievements of Geely's transformation. In the SSE's inquiry letter on the firm's review in September 2020, the SSE focused on the trend of new energy development in the auto industry corresponding to Geely Automobile's new energy and electrified models.
At present, Geely's plan to list on the board is still in progress. But it is undeniable that under the current changes in the auto industry, traditional vehicle companies must focus on the development of new technologies and models while mastering the core technologies related to the supply chain. It is also essential for these companies to launch new energy and electrified vehicle models in the highly competitive market.