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Geely Auto announced that after the October 5 trading period, the subsidiary Zhejiang Power Fit, which indirectly owns 99% of the equity, bought two engine companies for $1.265 billion, which are owned by Zhejiang Geely, its parent company.

According to the announcement, Zhejiang Power has agreed to buy Taizhou Engine under a Taizhou acquisition agreement. Zhejiang Power has agreed to buy Taizhou Engine. Taizhou Engine has agreed to sell all the registered capital of Taizhou Target Company at a cash cost of 781 million yuan. Taizhou Engine is wholly owned by Zhejiang Geely, the parent company of Geely Automobile. Mainly engaged in technical research and development, technical advisory services, manufacturing and sales of automotive engines and provide after-sales services in China.

On the same day, Zhejiang Power and Guiyang Engine signed a Guizhou acquisition agreement, Zhejiang Power has conditional agreement to buy, and Guiyang Engine has conditional agreement to sell all the registered capital of Guizhou Target Company, the cash cost is 484 million yuan, and Guiyang Engine is owned by Zhejiang Geely and a third party independent of Geely, respectively. 88.64% and 11.36% of the company's equity, mainly engaged in technology research and development, technical advisory services, manufacturing and sales of automotive engines and after-sales services in China.

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