Shares in Geely Automobile Holdings rose more than 7% to a record high on Monday after the Chinese carmaker said it planned to sell 400,000 vehicles in 2010, up by a third from 2009.

The stock rose to a record HK$4.37, up 7.11%, before easing slightly to HK$4.35 at noon, Reuters reported.

The company also said it planned to boost capital spending by up to 43% to CNY1bn initially in 2010, and will continue to seek acquisition opportunities, with an interest in projects, including parts and engines.

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