On August 18, 2026, 63-year-old Li Shufu officially stepped down as chairman of Geely Holding Group, handing the position to An Conghui, a professional manager who has worked at Geely for nearly 30 years. The man who led Geely from a small workshop in Taizhou to a Fortune Global 500 company completed his corporate succession rite of passage in this manner.
Background of the Succession
In 2025, Geely Holding Group achieved total sales of 4.116 million vehicles, a year-on-year increase of 26%, crossing the 4-million threshold for the first time. Among these, new energy vehicle sales reached 2.293 million units, accounting for 56%. Looking solely at Geely Automobile Holdings, annual sales were 3.025 million units, up 39% year-on-year; operating revenue reached 345.2 billion yuan, up 25%; core net profit attributable to the parent was 14.41 billion yuan, up 36%.
Geely Galaxy achieved annual sales of 1.24 million units, Lynk & Co reached 350,000 units, and Zeekr reached 224,000 units. Geely has entered the first tier of global large automotive groups.
Significance of the Succession
As the first-generation founders of China’s private automakers collectively reach their sixties, how should the succession question be answered? Li Shufu provided a model — choosing a professional manager rather than family inheritance. This approach is already standard practice in mature Western automakers, but remains a pioneering attempt among Chinese private automakers.
An Conghui has worked at Geely for nearly 30 years, deeply participating in the entire process from the acquisition of Volvo to the creation of Geely’s multi-brand matrix, and possesses a profound understanding of corporate strategy and culture, making him the best successor.
Future Challenges
The next phase of competition for Geely will take place within the enterprise. Against the backdrop of new energy transformation entering deep waters and accelerating changes in the global competitive landscape, the new leadership must simultaneously advance on multiple fronts: intelligence, overseas market expansion, and brand premiumization.
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