Geely, Concordium forms JV to provide blockchain technology & service in China

  • Geely Holding Group (OTCPK:GELYF) and the Concordium Foundation (Concordium) have signed a Joint Venture (JV) agreement, which will use latter's Blockchain Technology to become a leading Blockchain Technology- and Service Provider in China.
  • According to the agreement, Geely will own 80% of the JV and 20% will be owned by Concordium.
  • Concordium and its Blockchain Research Center Aarhus - contributes to the technology with its research of Cryptographic primitives for Blockchain, and in the field of Zero-knowledge proofs, peer-to-peer, other spearheading blockchain research, and computer science.
  • The new company is expected to be operational in 2021, subject to regulatory approvals.
  • The JV will cooperate with Genius & Guru, a company wholly owned by Geely. Together the two partners will build business use-cases and solutions in various industries.

    For this year Geely Automobile Holdings's revenue will be around 91.75 billion GBp. This is according to the average of the analysts' estimates. This is slightly lower than 2020's revenue of 97.4 billion GBp.

    Historical revenues and results Geely Automobile Holdings plus estimates 2020

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    The analysts expect for 2021 a net profit of 7.18 billion GBp. For this year the consensus of Geely Automobile Holdings's result per share is a profit of 75 cent. Based on this the price/earnings-ratio is 36.67.

    Per share the analysts expect a dividend of 20 cents per share. The dividend yield is then 0.73 percent. The average dividend yield of the automobile producers is a limited 1.36 percent.

    Geely Automobile Holdings's market capitalization is based on the number of outstanding shares around 246.99 billion GBp. The Geely Automobile Holdings stock was the past 12 months quite unstable. Since last February the stock is even 96 percent higher. This year the stock price moved between 10 and 36 HKD.

    Historical stock prices Geely Automobile Holdings

    stock geelyautomobileholdings

    Click here for dividend Geely Automobile Holdings. At 9.08 the stock trades 3 percent lower at 27.5 GBp.

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