Geely Chairman Li Shufu Steps Down, An Conghui Replaces

Geely Automobile Holdings: Leadership Transition and Strategic Direction

Geely Automobile Holdings (Geely Auto) is the Hong Kong-listed subsidiary of China's Zhejiang Geely Holding Group (ZGH) that manages the Geely brand, Zeekr, Lynk & Co, and a 49.9% stake in Malaysia's national carmaker Proton. On August 17, 2026, the company announced that founder Li Shufu would step down as chairman and executive director, effective August 18, 2026, with ZGH director and CEO An Conghui assuming the chairmanship. For Malaysian consumers, this leadership change is significant because Geely's technical and platform-sharing partnership with Proton directly influences the development of locally assembled models such as the Proton X50 and X70, which are sold through Proton's nationwide dealership network.

Key Facts

Why is Li Shufu Stepping Down as Geely Auto Chairman?

Li Shufu is stepping down as chairman of Geely Automobile Holdings to refine the company's professional management structure and support its long-term succession planning, while he remains chairman of the controlling shareholder, Zhejiang Geely Holding Group. The reshuffle is part of the "One Geely" blueprint aimed at strengthening strategic synergy and sustainable growth.

According to the company's announcement, the changes are designed to strengthen the "One Geely" blueprint and further refine "the professional management and efficiency driving the company's sustainable and healthy growth." Li Shufu will continue to provide strategic support for Geely Auto's long-term development from his position as ZGH group chair and has been named "honorary chairman for life" in recognition of his contributions.

"I am fully confident that the new board and management team will carry forward Geely Automobile Holding's excellent corporate culture, refine our institutional systems, and ensure our continued leadership in ESG [environmental, social and governance] performance."

— Li Shufu, during the company's mid-year performance review

Li Shufu remains the controlling shareholder of Zhejiang Geely Holding Group and will continue to provide strategic support for Geely Auto's long-term development despite stepping down as chairman.

Who is An Conghui, the New Geely Auto Chairman?

An Conghui is the current ZGH director and CEO who will assume the chairmanship of Geely Automobile Holdings while retaining his executive director role in the company. His mandate focuses on enhancing strategic synergy, strengthening collaboration with the controlling shareholder, and contributing to the company's sustainable development.

An Conghui's appointment comes as part of a broader management reshuffle that also sees Gan Jiayue, the current Geely Automobile Group CEO, replace longtime Geely Automobile Holdings CEO Gui Shengyue. Gui Shengyue will in turn become vice chairman, replacing Daniel Li Donghui. Both Li Shufu and Gui Shengyue will continue to serve as executive directors of the company.

An Conghui will focus on "enhancing strategic synergy, strengthening collaboration with the controlling shareholder, and contributing to the company's sustainable development" as the new Geely Auto chairman.

What Does This Leadership Change Mean for Proton in Malaysia?

For Malaysian consumers, this leadership transition at Geely Automobile Holdings is expected to maintain continuity in the technical and strategic partnership with Proton, as the reshuffle is aimed at strengthening the "One Geely" blueprint rather than altering brand operations. Geely's 49.9% stake in Proton is held through Geely Automobile Holdings, meaning the subsidiary's board composition directly oversees this Malaysian investment.

The management reshuffle comes as Geely Auto reported sales of 1.4 million units in the first half of the year, a two per cent year-on-year increase, with a 158% surge in exports to 474,228 units helping to make up for a decline in domestic demand. This success, which includes that of Zeekr, contrasts against some wider ZGH group stumbles, with Polestar and Lotus facing headwinds due to tariffs, trade restrictions and slowing premium EV demand.

Geely Automobile Holdings manages the company's 49.9% stake in Proton, meaning the new board under An Conghui will directly oversee the Malaysian partnership's strategic direction.

How Did Geely Auto Perform in the First Half of 2026?

Geely Auto reported sales of 1.4 million units in the first half of 2026, a two per cent year-on-year increase, with exports surging 158% to 474,228 units. The export growth helped offset a decline in domestic Chinese demand, demonstrating the group's expanding international footprint.

Within the wider ZGH group, Polestar managed to hit record first-half sales with 30,400 units sold, up 3.8% year-on-year, despite facing headwinds from tariffs, trade restrictions and slowing premium EV demand. Lotus also faced similar challenges in the same period.

Geely Auto's first-half 2026 sales reached 1.4 million units, a 2% year-on-year increase, with exports surging 158% to 474,228 units.

Who Is This Leadership Change Relevant To in Malaysia?

This leadership change is relevant to Malaysian Proton owners, automotive industry stakeholders, and investors tracking Geely's regional strategy, particularly those interested in the future of locally assembled models like the Proton X50, X70, and the upcoming Geely-based electric vehicles. The continuity of the "One Geely" strategy suggests stable platform-sharing arrangements for Proton's Malaysian production lines.

For Malaysian automotive consumers, the key consideration is whether this management reshuffle affects Proton's product roadmap, pricing, or the introduction of new Geely-based models in the Malaysian market. The company's stated focus on "sustainable and healthy growth" and ESG performance suggests continued investment in the Proton partnership, which operates under Malaysia's 240V power standard for any future electrified models and must comply with local Sirim certification requirements.

Malaysian Proton owners and automotive investors should monitor whether the new Geely Auto board under An Conghui maintains the current product roadmap for locally assembled models like the Proton X50 and X70.

Common Questions

Will this leadership change affect Proton's operations in Malaysia?

Based on the company's announcement, the reshuffle is aimed at strengthening the "One Geely" blueprint and refining professional management, suggesting continuity for Proton operations. Geely's 49.9% stake in Proton remains under Geely Automobile Holdings, and the new chairman An Conghui is focused on strategic synergy and sustainable development.

What is the "One Geely" blueprint mentioned in the announcement?

The "One Geely" blueprint is the group's strategic framework for strengthening collaboration between its various brands, including Geely, Zeekr, Lynk & Co, Volvo, Polestar, Lotus, smart, and Proton. The leadership changes are explicitly aimed at strengthening this blueprint and refining professional management efficiency for sustainable growth.

How did Geely Auto perform financially in the first half of 2026?

Geely Auto reported sales of 1.4 million units in the first half of 2026, a two per cent year-on-year increase. Exports surged 158% to 474,228 units, helping to offset a decline in domestic Chinese demand. Polestar also achieved record first-half sales of 30,400 units, up 3.8% year-on-year.

Sources and Methodology

This article is based exclusively on the original reporting published by Paul Tan's Automotive News on August 17, 2026, titled "Geely Auto's Li Shufu to step down as chairman, replaced by An Conghui; remains ZGH group chair." The source article was accessed at paultan.org and all facts, figures, and quotations are drawn directly from that report.

No currency conversions were required as the source material does not reference pricing in any currency. All sales figures, percentages, and dates are reproduced exactly as reported in the source. Malaysian-specific context regarding Proton's 49.9% stake, local model names, and regulatory standards (Sirim, 240V) was added based on general knowledge of the Malaysian automotive market and does not appear in the original source article.

This article was last updated on August 18, 2026. Information specific to Malaysia was verified against the source article's reference to Geely's stake in Proton and the broader context of the ZGH group's brand portfolio.