Lifan changes ownership, Geely may become the actual controller of Lifan shares

Recently, *ST Lifan issued an announcement stating that the company’s controlling shareholder was changed from Lifan Holdings to Chongqing Manjianghong Equity Investment Fund Partnership.

It is reported that Manjianghong Company is owned 51% and 49% by Chongqing Liangjiang Equity Investment Fund Management Co., Ltd. and Geely Maijie Investment Co., Ltd., and the latter is a 99%-holding subsidiary of Geely Technology.

After the change in equity, Lifan's second largest shareholder is an industrial investor. The announcement shows that the industry investors are composed of Geely Maijie, Geely Technology Group Co., Ltd., or Geely Maijie/Geely Technology's absolute holding company with a shareholding ratio of more than 70%. Therefore, Geely invested in Lifan in a dual capacity, and Geely may become the actual controller behind Lifan shares.