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Real-time News
On August 17th, Geely Automobile (00175.HK) announced that Li Shufu will resign as Chairman of the Board and Executive Director of Geely Automobile Holdings Limited, effective August 18, 2026. In recognition of his outstanding contributions to the companys development over the years, he has been appointed as Honorary Chairman for Life. As a major and controlling shareholder, he will continue to fully support the companys long-term development. Li Shufu will continue to serve as Chairman of Zhejiang Geely Holding Group. An Conghui has been appointed Chairman of the Board of Directors of Geely Automobile Holdings Limited. Li Donghui has resigned as Vice Chairman of the Board of Directors of Geely Automobile Holdings Limited but will continue to serve as an Executive Director. Gui Shengyue has resigned as CEO of Geely Automobile Holdings Limited but has been appointed as Vice Chairman of the Board of Directors and will continue to serve as an Executive Director, in order to improve the efficiency of communication and coordination between the Board and management. Gan Jiayue has been appointed CEO of Geely Automobile Holdings Limited, responsible for the companys daily operations.According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) spent HK$19.9 million to repurchase 1.3 million shares on August 14.Iranian Foreign Ministry spokesman Baghae: Fundamentally, the problem between us and the United States is not about mediation; the problem lies in the American way of thinking, its misjudgments, and its clinging to methods and means that have been proven to fail countless times, while the US administration continues to repeat the same mistakes. The result will inevitably be no different from the past.Iranian Foreign Ministry spokesman Bagaei: Admitting mistakes can be a prerequisite for making the right decisions, but I doubt whether US policymakers have that courage.On August 17, Wang Guanhua, spokesperson for the National Bureau of Statistics and deputy director of the Department of Comprehensive Statistics of the National Economy, stated at a press conference held by the State Council Information Office that the effects of comprehensively addressing involutionary competition continue to emerge. With the continued effectiveness of capacity control in key industries and the comprehensive rectification of involutionary competition, the supply and demand relationship in some industries has improved. In July, the prices of lithium-ion battery manufacturing and photovoltaic equipment and component manufacturing rose by 8.9% and 2.8% year-on-year, respectively. In the next stage, relevant departments will further expand domestic demand, optimize supply, focus on cultivating and strengthening new growth drivers, comprehensively address involutionary competition, create a fair competitive market environment, continue to ensure supply and stabilize prices, and promote the stable operation of industrial product prices.
