# Geely Automobile Group restructuring and leadership changes

> Live situation record from CLSTR: https://clstr.news/situations/geely-automobile-group-restructuring-and-leadership-changes
> Updated: 2026-08-17T04:36:48.000Z. Sources: 43. Developments: 2.

Geely Automobile Group has undergone significant corporate restructuring and leadership changes. Initially, the group established the Geely Automobile Group Sales Company to create a flatter, market-focused operating model under its “One Geely” strategy. This new entity, led by General Manager Lin Jie, was designed to oversee multiple brand-level sales organizations including Zeekr, Lynk & Co, Galaxy, and China Star.

Following this reorganization, the company announced interim financial results showing a 15% increase in total revenue to 173.6 billion RMB, despite a 2% year-on-year decrease in net profit to 9.09 billion RMB. Growth was driven by a 158% increase in export volume and strong performance in new energy vehicles and the luxury brand Zeekr.

Concurrently, a major leadership transition occurred: Li Shufu stepped down as Chairman and Executive Director to become Honorary Chairman, with An Conghui appointed as the new Chairman of the Board and Gan Jiayue named CEO. This transition, effective August 18, marks a move toward a professional management structure. Amidst these changes, Geely has raised its full-year export target to 920,000 units, following a significant rise in export volume to 474,000 units and a 97% sales increase for the Zeekr brand.

## Claims

- HIVE Digital Technologies announced a five-year GPU cloud services agreement worth approximately $350 million through its BUZZ HPC subsidiary. (corroborated by 2 sources)
- The $350 million contract is with an unnamed investment-grade enterprise customer and is expected to add approximately $70 million in annualized revenue. (corroborated by 2 sources)
- BUZZ HPC will deploy a cluster of 2,016 Nvidia Blackwell Ultra GPUs in Merritt, British Columbia. (corroborated by 2 sources)
- The project requires approximately $185 million in capital expenditure. (corroborated by 2 sources)
- Core Scientific generated $136.7 million in colocation revenue in Q2, which was nearly five times its $27.5 million in bitcoin mining revenue. (single source)
- TeraWulf reported that HPC lease revenue reached $31.9 million, accounting for 71% of its total revenue. (single source)

## Timeline

### 2026-08-17: HIVE Digital Technologies signs $350M AI cloud services deal

HIVE Digital Technologies signed a $350 million five-year GPU cloud services deal to deploy 2,016 Nvidia Blackwell Ultra GPUs in British Columbia for AI workloads.

43 sources. https://clstr.news/cluster/major-hedge-funds-adjust-us-tech-and-semiconductor-holdings

### 2026-08-02: Geely Auto Group creates sales holding company, names Lin Jie GM

Geely Auto Group set up a new sales holding company, appointing senior VP Lin Jie as its general manager and Zeekr sales chief to streamline brand marketing and resource sharing.

3 sources. https://clstr.news/cluster/geely-auto-group-creates-sales-holding-company-names-lin-jie-gm

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Cite as: Geely Automobile Group restructuring and leadership changes. CLSTR, https://clstr.news/situations/geely-automobile-group-restructuring-and-leadership-changes