Li Shufu Steps Down, An Conghui Takes Over: Geely Bets on the System, Not Individuals

He leaned back against the seat, not because he was tired, but to see the entire chessboard clearly. On August 17, Li Shufu resigned as Chairman of the Geely Auto Board of Directors, and An Conghui took over. With no performance explosion, no shareholder pressure, at a juncture of 173.6 billion in semi-annual revenue and a 46% surge in profit, this car-making visionary voluntarily handed over the steering wheel. Some said Geely was changing its regime, quite the opposite; Li Shufu used this exit to secure Geely's entry ticket for the next thirty years.

I. Founder Yields Place, Harder Than Starting a Business

Li Shufu is not a defeated general, but a monarch who voluntarily stepped down from the throne. In the past thirty years, every risky move Geely made bore Li Shufu's name—daring to make cars, daring to buy Volvo, daring to bet on new energy. But as the company grew to Geely's scale, with seven or eight brands globally and business spanning Europe, Asia, and South America, relying on one person to make decisions is like letting an aircraft carrier chase a speedboat. He saw through it: a founder's intuition is the company's ceiling and its limit. An Conghui is a professional manager grown from Geely itself, working from the grassroots to the core. Li Shufu's words "Professional talent is rare" were handing the baton to someone who had truly run on the track. This baton pass is not a shift in power, but a victory of organizational life over individual lifespan.

II. What's Missing is Not Technology, but the Explosive Power of Hit Products

The new chairman didn't read a welcome report upon taking office, but first admitted shortcomings: "Lack of hit products, lack of mid-tier strength." In the first half, Zeekr sold 178,000 units crazily, Xingyuan stormed the entry-level market list, but in the middle golden belt of 150,000 to 300,000, Geely was surrounded like an iron barrel by BYD, Li Auto, and AITO. Chassis, intelligent driving, batteries, Geely lacks none of these, but what is missing is the chemical reaction to turn technology into hit products. So "One Geely" is no longer a slogan—cutting overlapping models, R&D expenses decreased, procurement tightened into one rope, the goal is one: make every penny strike a sound-producing product. In the first half of electrification, it was about lone heroes; in the second half, it is about the speed of system punches.

III. The Next Chapter of Globalization, Relying on Leverage Instead of Building Factories

Sold 474,000 units overseas in the first half, more than doubled year-on-year, but Geely played smarter this time. Li Shufu made things clear: not building new factories everywhere, sharing capacity with Ford in Spain, borrowing Volvo's European foundation, landing in Malaysia relying on Proton, side by side with Renault in South America. Investments made over these years finally assembled into a global manufacturing network. The early routine of Chinese car companies going overseas was shipping and selling cars, what Geely wants to do is package technology, supply chain, and localization together, quietly taking root in other people's markets. At this time, the founder's personal will cannot cover time zones and national borders, must let the organization grow thousands of feet, to run for Geely on the Earth.

Li Shufu stepped back, Geely took a big step forward. After Steve Jobs, Apple was still making money, but products changing the world were fewer; what Geely wants to prove is not whether changing the person still allows making money, but whether the gene of daring to bet and venture will break without the strongman. On An Conghui's desk lay the semi-annual report, and also three new car model blueprints. The real exam has just begun—not testing who sits on that chair, but testing whether that chair can shine on its own. The founder's value has never been standing on the stage forever, but letting the stage be empty, and the show can still be more wonderful.