Li Shufu, the 63-year-old founder of Geely Auto, has officially resigned from his position as chairman of the company. The transition, which the company frames as a strategic move to ensure long-term sustainable growth, sees Andy An Conghui, 56, stepping into the role. An has served as an executive director and is a long-standing figure within the organization.

The leadership change was announced shortly after Geely Auto released its financial results for the first half of the year. While the company reported record-breaking revenue, the report also highlighted a decline in profits. This performance reflects the broader pressures within China’s automotive industry, which is currently characterized by intense price competition and a rapid shift toward electric vehicle adoption. While the company maintains a positive outlook regarding its future market position, the resignation of a high-profile founder during a period of profit contraction has drawn attention from industry observers monitoring the company's transition strategy.