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Strong 1H profit pushes up Geely shares 150% so far this year

Management dismisses rumors of bid for Italian-US carmaker Fiat Chrysler

Geely Automobile’s president An Conghui, left, and CEO Gui Shengyue discuss the company’s first-half results in Hong Kong on Aug. 16. (Photo by Joyce Ho)

HONG KONG -- Chinese carmaker Zhejiang Geely Holding Group saw the share price of its Hong Kong-listed unit rising 158.57% to 19.16 Hong Kong dollars so far this year as of Wednesday after the company reported that its revenue and profit for the first half had doubled on the year.

A component of the benchmark Hang Seng Index since March, Geely Automobile Holdings said on Wednesday that its net profit attributable to shareholders for the period surged 128% to 4.34 billion yuan ($648 million), while revenue grew 118% to 39 billion yuan.

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