Geely Group denies a report saying the company cut a 5.4 percent stake in Daimler AG on Jan 11, the Tencent-backed news portal qq.com reported.

Earlier today, a Bloomberg report said the Geely Group had cut its 9.7 percent stake in Daimler AG by more than half after less than a year after the company made what was the biggest overseas acquisition by a Chinese automaker.