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6-K 1 tm2523501d1_6k.htm FORM 6-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2025

 

Commission File Number: 001-42042

 

ZEEKR Intelligent Technology Holding Limited

(Exact Name of Registrant as Specified in Its Charter)

 

Room 2301, Building 1,

Dadao Wangchao Shangwu Center,

Yingfeng Street, Xiaoshan District,

Hangzhou, Zhejiang Province, China

(Address of Principal Executive Office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x       Form 40-F ¨

 

 

 

2

 

EXHIBIT INDEX

 

Exhibit
No.
Description
   
99.1 Zeekr Group Reports Second Quarter 2025 Unaudited Financial Results

 

 

3

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  ZEEKR Intelligent Technology Holding Limited
     
Date: August 14, 2025 By:  /s/ Conghui An
    Name: Conghui An
    Title: Chief Executive Officer

 

 

 

EX-99.1 2 tm2523501d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

Zeekr Group Reports Second Quarter 2025 Unaudited Financial Results

 

HANGZHOU, China, August 14, 2025 -- ZEEKR Intelligent Technology Holding Limited (“Zeekr Group” or the “Company”) (NYSE: ZK), the world's leading premium new energy vehicle group, today announced its unaudited financial results for the second quarter ended June 30, 2025.1

 

Operating Highlights for the Second Quarter of 2025

 

· Total vehicle deliveries were 130,866 units for the second quarter of 2025, representing a 9.3% year-over-year increase and a 14.8% quarter-over-quarter increase. The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models.

 

Deliveries   2025 Q2     2025 Q1     2024 Q4     2024 Q3  
      130,866       114,011       169,088       124,606  
                                 
Deliveries   2024 Q2     2024 Q1     2023 Q4     2023 Q3  
      119,755       94,115       120,114       94,151  

 

Financial Highlights for the Second Quarter of 2025 

 

· Vehicle sales were RMB22,916 million (US$3,199 million)2 for the second quarter of 2025, representing an increase of 2.2% from the second quarter of 2024 and an increase of 20.0% from the first quarter of 2025.

 

· Vehicle margin3 was 17.3% for the second quarter of 2025, compared with 11.5% for the second quarter of 2024 and 16.5% for the first quarter of 2025.

 

· Total revenues were RMB27,431 million (US$3,829 million) for the second quarter of 2025, representing a decrease of 0.9% from the second quarter of 2024 and an increase of 24.6% from the first quarter of 2025.

 

· Gross profit was RMB5,656 million (US$789 million) for the second quarter of 2025, representing an increase of 13.3% from the second quarter of 2024 and an increase of 34.3% from the first quarter of 2025.

 

· Gross margin was 20.6% for the second quarter of 2025, compared with 18.0% for the second quarter of 2024 and 19.1% for the first quarter of 2025.

 

· Income from operations was RMB285 million (US$39 million) for the second quarter of 2025, compared with RMB2,269 million loss from operations in the second quarter of 2024 and RMB1,259 million loss from operations in the first quarter of 2025. Excluding share-based compensation expenses, adjusted income from operations (non-GAAP)4 was RMB315 million (US$43 million) for the second quarter of 2025, compared with RMB1,325 million non-GAAP loss from operations in the second quarter of 2024 and RMB1,136 million non-GAAP loss from operations in the first quarter of 2025.

 

· Net loss was RMB287 million (US$40 million) for the second quarter of 2025, representing a decrease of 88.8% from the second quarter of 2024 and a decrease of 62.4% from the first quarter of 2025. Excluding share-based compensation expenses, adjusted net loss (non-GAAP)4 was RMB257 million (US$36 million) for the second quarter of 2025, representing a decrease of 84.2% from the second quarter of 2024 and a decrease of 59.8% from the first quarter of 2025.

 

 

1 All disclosed data (including historical periods) were recast to reflect common-control accounting treatment related to Lynk & Co's acquisition.

2 All conversions from Renminbi(“RMB”) to U.S. dollars (“US$”) were made at an exchange rate of RMB7.1636 to US$1.00, as set forth in the H.10 statistical release of the Federal Reserve Board on June 30, 2025.

3 Vehicle margin is the margin of vehicle sales, which is calculated based on revenues and cost of revenues derived from vehicle sales only.

4 The Company’s non-GAAP financial measures exclude share-based compensation expenses. See “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this announcement.

 

1


 

Key Financial Results for the Second Quarter of 2025

 

(in RMB millions, except for percentages)

 

    2025 Q2     2025 Q1     2024 Q2     % Changei   
                      YoY     QoQ  
Vehicle sales     22,916       19,096       22,433       2.2 %     20.0 %
 -Zeekr     10,925       9,987       13,438       (18.7 )%     9.4 %
 - Lynk & Co     11,991       9,109       8,995       33.3 %     31.6 %
Vehicle margin     17.3 %     16.5 %     11.5 %     5.8 pts     0.8 pts
 -Zeekr     21.1 %     21.2 %     14.2 %     6.9 pts     (0.1 )pts
 - Lynk & Co     13.8 %     11.4 %     7.6 %     6.2 pts     2.4 pts
                                         
Total revenues     27,431       22,019       27,671       (0.9 )%     24.6 %
Gross profit     5,656       4,213       4,994       13.3 %     34.3 %
Gross margin     20.6 %     19.1 %     18.0 %     2.6 pts     1.5 pts
                                         
Income/(loss) from operations     285       (1,259 )     (2,269 )     N/A       N/A  
Non-GAAP income/(loss) from operations     315       (1,136 )     (1,325 )     N/A       N/A  
                                         
Net loss     (287 )     (763 )     (2,569 )     (88.8 )%     (62.4 )%
Non-GAAP net loss     (257 )     (640 )     (1,625 )     (84.2 )%     (59.8 )%

 

 

i Except for vehicle margin and gross margin, absolute changes instead of percentage changes are presented.

 

2


 

Recent Developments

 

Delivery Update

 

In July, Zeekr Group delivered a total of 44,193 vehicles across its Zeekr and Lynk & Co brands, marking a 2.7% increase compared to the previous month. This achievement was made possible by the trust and support of over 2 million users. Specifically, the Zeekr brand delivered 16,977 vehicles, while Lynk & Co brand delivered 27,216 vehicles.

 

New Model Launches

 

On July 9, 2025, Zeekr debuted its revolutionary Super Hybrid Technologies in Wuzhen, China. This system sets new standards for long-range plug-in hybrid technologies including best-in-class charging and acceleration speeds, as well as luxury noise and vibration control, enhancing both highway cruising and urban experiences. Built on the Company’s groundbreaking SEA-S platform, the Zeekr Super Hybrid System features a revolutionary 900V high-voltage architecture, tri-silicon carbide-powered e-motors and a CATL Freevoy Super Hybrid battery. This powerful combination enables passengers to enjoy quiet city journeys and confidently transition to high-performance or long-distance driving, free of range anxiety.

 

The recently unveiled Zeekr 9X is the first model in the Zeekr lineup to incorporate this technology. Boasting a 70kWh battery pack with a 380km range per CLTC (model specific), as well as an all-new, turbocharged 2.0T engine with peak power output of 205 kW (275 hp) and thermal efficiency over 46%, Zeekr 9X delivers a performance that is normally only found in super luxury premium models. Zeekr 9X will commence deliveries in the third quarter of 2025.

 

Financial Results for the Second Quarter of 2025

 

Revenues

 

· Total revenues were RMB27,431 million (US$3,829 million) for the second quarter of 2025, representing a decrease of 0.9% from RMB27,671 million for the second quarter of 2024 and an increase of 24.6% from RMB22,019 million for the first quarter of 2025.

 

· Revenues from vehicle sales were RMB22,916 million (US$3,199 million) for the second quarter of 2025, representing an increase of 2.2% from RMB22,433 million for the second quarter of 2024, and an increase of 20.0% from RMB19,096 million for the first quarter of 2025. The year-over-year increase was mainly driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The quarter-over-quarter increase was mainly driven by sales growth resulting from the launch of new models during the second quarter of 2025.

 

· Revenues from other sales and services were RMB4,515 million (US$630 million) for the second quarter of 2025, representing a decrease of 13.8% from RMB5,238 million for the second quarter of 2024 and an increase of 54.5% from RMB2,923 million for the first quarter of 2025. The year-over-year decrease was primarily due to a decrease in R&D revenue from related parties in the second quarter of 2025. The quarter-over-quarter increase was mainly due to the increased overseas sales of battery packs and electric drives since May 2025.

 

3


 

Cost of Revenues and Gross Margin

 

· Cost of revenues was RMB21,775 million (US$3,040 million) for the second quarter of 2025, representing a decrease of 4.0% from RMB22,677 million for the second quarter of 2024 and an increase of 22.3% from RMB17,806 million for the first quarter of 2025. The year-over-year decrease was primarily attributable to the ongoing vehicle cost-saving initiatives. The quarter-over-quarter increase was mainly due to the increased vehicle delivery volume.

 

· Gross profit was RMB5,656 million (US$789 million) for the second quarter of 2025, representing an increase of 13.3% from RMB4,994 million for the second quarter of 2024 and an increase of 34.3% from RMB4,213 million for the first quarter of 2025.

 

· Gross margin was 20.6% for the second quarter of 2025, compared with 18.0% for the second quarter of 2024 and 19.1% for the first quarter of 2025.

 

· Vehicle margin was 17.3% for the second quarter of 2025, compared with 11.5% for the second quarter of 2024 and 16.5% for the first quarter of 2025. The year-over-year and quarter-over-quarter increases were primarily attributed to sustained cost-saving initiatives.

 

Operating Expenses

 

· Research and development expenses were RMB2,146 million (US$300 million) for the second quarter of 2025, representing a decrease of 42.9% from RMB3,760 million for the second quarter of 2024 and a decrease of 26.2% from RMB2,908 million for the first quarter of 2025. The year-over-year and quarter-over-quarter decreases were mainly driven by economies of scale resulting from business integration, partially offset by expanded technological investments for vehicle models.

 

· Selling, general and administrative expenses were RMB3,364 million (US$469 million) for the second quarter of 2025, representing a decrease of 9.7% from RMB3,725 million for the second quarter of 2024 and an increase of 27.2% from RMB2,645 million for the first quarter of 2025. The year-over-year decrease was mainly driven by economies of scale generated following the Zeekr and Lynk & Co business integration. The quarter-over-quarter increase was primarily attributable to higher marketing and advertising expenses to support new vehicle model launches and sales growth.

 

Income/(Loss) from Operations

 

· Income from operations was RMB285 million (US$39 million) for the second quarter of 2025, compared with RMB2,269 million loss from operations in the second quarter of 2024 and RMB1,259 million loss from operations in the first quarter of 2025.

 

4


 

· Non-GAAP income from operations, which excludes share-based compensation expenses from income/(loss) from operations, was RMB315 million (US$43 million) for the second quarter of 2025, compared with RMB1,325 million non-GAAP loss from operations in the second quarter of 2024 and RM1,136 million non-GAAP loss from operations in the first quarter of 2025.

 

Net Loss and Net Loss Per Share

 

· Net loss was RMB287 million (US$40 million) for the second quarter of 2025, representing a decrease of 88.8% from RMB2,569 million for the second quarter of 2024 and a decrease of 62.4% from RMB763 million for the first quarter of 2025.

 

· Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB257 million (US$36 million) for the second quarter of 2025, representing a decrease of 84.2% from RMB1,625 million for the second quarter of 2024 and a decrease of 59.8% from RMB640 million for the first quarter of 2025.

 

· Net loss attributable to ordinary shareholders of Zeekr Group was RMB394 million (US$55 million) for the second quarter of 2025, representing a decrease of 86.3% from RMB2,876 million for the second quarter of 2024 and a decrease of 45.1% from RMB718 million for the first quarter of 2025.

 

· Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group, which excludes share-based compensation expenses from net loss attributable to ordinary shareholders, was RMB364 million (US$51 million) for the second quarter of 2025, representing a decrease of 81.2% from RMB1,932 million for the second quarter of 2024 and a decrease of 38.8% from RMB595 million for the first quarter of 2025.

 

· Basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.15 (US$0.02) for the second quarter of 2025, compared with RMB1.25 each for the second quarter of 2024 and RMB0.28 each for the first quarter of 2025.

 

· Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.14 (US$0.02) for the second quarter of 2025, compared with RMB0.84 each for the second quarter of 2024 and RMB0.23 each for the first quarter of 2025.

 

· Basic and diluted net loss per American Depositary Share5 (“ADS”) attributed to ordinary shareholders were both RMB1.54 (US$0.21) for the second quarter of 2025, compared with RMB12.49 each for the second quarter of 2024 and RMB2.81 each for the first quarter of 2025.

 

· Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were both RMB1.42 (US$0.20) for the second quarter of 2025, compared with RMB8.39 each for the second quarter of 2024 and RMB2.33 each for the first quarter of 2025.

 

 

5 Each ADS represents ten ordinary shares.

 

5


 

Balance Sheets

 

Cash and cash equivalents and restricted cash was RMB10,210 million (US$1,425 million) as of June 30, 2025.

 

About Zeekr Group

 

Zeekr Group, headquartered in Zhejiang, China, is the world's leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain. Zeekr Group's values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider.

 

For more information, please visit https://ir.zeekrgroup.com.

 

Non-GAAP Financial Measures

 

The Company uses non-GAAP financial measures, such as non-GAAP income/(loss) from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic and diluted net loss per ordinary share attributed to ordinary shareholders, non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

 

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and non-GAAP Results” set forth in this announcement.

 

Exchange Rate Information

 

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.1636 to US$1.00, the exchange rate on June 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

 

6


 

Safe Harbor Statement

 

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "future," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any duty to update such information, except as required under applicable law.

 

Investor Relations Contact

In China:

ZEEKR Intelligent Technology Holding Limited

Investor Relations

Email: ir@zeekrlife.com

 

Piacente Financial Communications

Tel: +86-10-6508-0677

Email: Zeekr@thepiacentegroup.com

 

In the United States:

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

Email: Zeekr@thepiacentegroup.com

 

Media Contact

Email: Globalcomms@zeekrgroup.com

 

7


 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in millions)

 

    As of  
    December 31     June 30     June 30  
    2024     2025     2025  
    RMB     RMB     US$  
ASSETS                        
Current assets:                        
Cash and cash equivalents     9,897       8,088       1,129  
Restricted cash     1,491       2,122       296  
Notes receivable     12,268       6,618       924  
Accounts receivable     2,344       2,873       401  
Inventories     10,388       8,007       1,118  
Amounts due from related parties     9,821       11,036       1,541  
Prepayments and other current assets     4,654       5,870       819  
Total current assets     50,863       44,614       6,228  
Property, plant and equipment, net     10,984       10,502       1,466  
Intangible assets, net     1,346       1,426       199  
Land use rights, net     506       500       70  
Operating lease right-of-use assets     3,008       2,817       393  
Deferred tax assets     340       513       72  
Long-term investments     688       967       135  
Other non-current assets     477       492       69  
Total non-current assets     17,349       17,217       2,404  
TOTAL ASSETS     68,212       61,831       8,632  

 

8


 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in millions)

 

    As of  
    December 31     June 30     June 30  
    2024     2025     2025  
    RMB     RMB     US$  
LIABILITIES AND SHAREHOLDERS’ EQUITY                        
Current liabilities:                        
Short-term borrowings     1,353       9,129       1,274  
Accounts payable     15,899       14,832       2,070  
Notes payable and others     23,391       18,056       2,520  
Amounts due to related parties     19,099       19,523       2,725  
Income tax payable     98       316       44  
Accruals and other current liabilities     15,455       13,570       1,896  
Total current liabilities     75,295       75,426       10,529  
Long-term borrowings     2,727       7,278       1,016  
Operating lease liabilities, non-current     2,137       1,946       272  
Other non-current liabilities     2,191       2,380       333  
Deferred tax liability     57       58       8  
Total non-current liabilities     7,112       11,662       1,629  
TOTAL LIABILITIES     82,407       87,088       12,158  
                         
SHAREHOLDERS' EQUITY                        
Ordinary shares     3       3       0  
Paid-in capital in combined companies     7,669       0       0  
Additional paid-in capital     15,763       10,542       1,472  
Treasury stock     (187 )     (193 )     (27 )
Accumulated deficits     (38,894 )     (34,346 )     (4,795 )
Accumulated other comprehensive income     (142 )     (63 )     (9 )
Total Zeekr Group shareholders’ deficit     (15,788 )     (24,057 )     (3,359 )
Non-controlling interest     1,593       (1,200 )     (167 )
TOTAL SHAREHOLDERS’ DEFICIT     (14,195 )     (25,257 )     (3,526 )
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY     68,212       61,831       8,632  

 

9


 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

 

    Three Months Ended  
    June 30     March 31     June 30     June 30  
    2024     2025     2025     2025  
    RMB     RMB     RMB     US$  
Revenues:                        
Vehicle sales     22,433       19,096       22,916       3,199  
Other sales and services     5,238       2,923       4,515       630  
Total revenues     27,671       22,019       27,431       3,829  
Cost of revenues:                                
Vehicle sales     (19,847 )     (15,948 )     (18,953 )     (2,646 )
Other sales and services     (2,830 )     (1,858 )     (2,822 )     (394 )
Total cost of revenues     (22,677 )     (17,806 )     (21,775 )     (3,040 )
Gross profit     4,994       4,213       5,656       789  
Operating expenses:                                
Research and development expenses     (3,760 )     (2,908 )     (2,146 )     (300 )
Selling, general and administrative expenses     (3,725 )     (2,645 )     (3,364 )     (469 )
Other operating income, net     222       81       139       19  
Total operating expenses     (7,263 )     (5,472 )     (5,371 )     (750 )
(Loss)/income from operations     (2,269 )     (1,259 )     285       39  
Interest expense     (139 )     (116 )     (108 )     (15 )
Interest income     103       45       37       5  
Other (expense)/income, net     (97 )     593       (292 )     (40 )
Loss before income tax expense and share of losses in equity method investments     (2,402 )     (737 )     (78 )     (11 )
Share of income in equity method investments     86       128       151       21  
Income tax expense     (253 )     (154 )     (360 )     (50 )
Net loss     (2,569 )     (763 )     (287 )     (40 )
Less: income/(loss) attributable to non-controlling interest     307       (45 )     107       15  
Net loss attributable to shareholders of Zeekr Group     (2,876 )     (718 )     (394 )     (55 )

 

10


 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED)

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

 

    Three Months Ended  
    June 30     March 31     June 30     June 30  
    2024     2025     2025     2025  
    RMB     RMB     RMB     US$  
Net loss per share attributed to ordinary shareholders:                                
Basic and diluted     (1.25 )     (0.28 )     (0.15 )     (0.02 )
Weighted average shares used in calculating net loss per share:                                
Basic and diluted     2,301,866,887       2,552,901,668       2,561,060,669       2,561,060,669  
Net loss per ADS attributed to ordinary shareholders:                                
Basic and diluted     (12.49 )     (2.81 )     (1.54 )     (0.21 )
Weighted average ADS used in calculating net loss per ADS:                                
Basic and diluted     230,186,689       255,290,167       256,106,067       256,106,067  
Net loss     (2,569 )     (763 )     (287 )     (40 )
Other comprehensive income/(loss), net of tax of nil:                                
Foreign currency translation adjustments     109       19       (22 )     (3 )
Comprehensive loss     (2,460 )     (744 )     (309 )     (43 )
Less: comprehensive income/(loss) attributable to non-controlling interest     218       (68 )     107       15  
Comprehensive loss attributable to shareholders of Zeekr Group     (2,678 )     (676 )     (416 )     (58 )

 

11


 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

 

    Six Months Ended  
    June 30     June 30     June 30  
    2024     2025     2025  
    RMB     RMB     US$  
Revenues:                  
Vehicle sales     38,883       42,012       5,865  
Other sales and services     10,569       7,438       1,039  
Total revenues     49,452       49,450       6,904  
Cost of revenues:                        
Vehicle sales     (34,144 )     (34,901 )     (4,872 )
Other sales and services     (6,769 )     (4,680 )     (654 )
Total cost of revenues     (40,913 )     (39,581 )     (5,526 )
Gross profit     8,539       9,869       1,378  
Operating expenses:                        
Research and development expenses     (6,086 )     (5,054 )     (705 )
Selling, general and administrative expenses     (6,638 )     (6,009 )     (839 )
Other operating income, net     222       220       31  
Total operating expenses     (12,502 )     (10,843 )     (1,513 )
Loss from operations     (3,963 )     (974 )     (135 )
Interest expense     (287 )     (224 )     (31 )
Interest income     181       82       11  
Other (expense)/income, net     (237 )     301       42  
Loss before income tax expense and share of losses in equity method investments     (4,306 )     (815 )     (113 )
Share of income in equity method investments     177       279       39  
Income tax expense     (355 )     (514 )     (72 )
Net loss     (4,484 )     (1,050 )     (146 )
Less: income attributable to non-controlling interest     374       62       9  
Net loss attributable to shareholders of Zeekr Group     (4,858 )     (1,112 )     (155 )

 

12


 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED)

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

 

    Six Months Ended  
    June 30     June 30     June 30  
    2024     2025     2025  
    RMB     RMB     US$  
Net loss per share attributed to ordinary shareholders:                        
Basic and diluted     (2.26 )     (0.43 )     (0.06 )
Weighted average shares used in calculating net loss per share:                        
Basic and diluted     2,150,933,444       2,557,003,707       2,557,003,707  
Net loss per ADS attributed to ordinary shareholders:                        
Basic and diluted     (22.59 )     (4.35 )     (0.61 )
Weighted average ADS used in calculating net loss per ADS:                        
Basic and diluted     215,093,344       255,700,371       255,700,371  
Net loss     (4,484 )     (1,050 )     (146 )
Other comprehensive income, net of tax of nil:                        
Foreign currency translation adjustments     247       (3 )     0  
Comprehensive loss     (4,237 )     (1,053 )     (146 )
Less: comprehensive income attributable to non-controlling interest     374       39       5  
Comprehensive loss attributable to shareholders of Zeekr Group     (4,611 )     (1,092 )     (151 )

 

13


 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)

 

    Three Months Ended  
    June 30     March 31     June 30     June 30  
    2024     2025     2025     2025  
    RMB     RMB     RMB     US$  
(Loss)/income from operations     (2,269 )     (1,259 )     285       39  
Share-based compensation expenses     944       123       30       4  
Non-GAAP (loss)/income from operations     (1,325 )     (1,136 )     315       43  
                                 
Net loss     (2,569 )     (763 )     (287 )     (40 )
Share-based compensation expenses     944       123       30       4  
Non-GAAP net loss     (1,625 )     (640 )     (257 )     (36 )
                                 
Net loss attributable to ordinary shareholders     (2,876 )     (718 )     (394 )     (55 )
Share-based compensation expenses     944       123       30       4  
Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group     (1,932 )     (595 )     (364 )     (51 )
                                 
Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share                                
Basic and diluted     2,301,866,887       2,552,901,668       2,561,060,669       2,561,060,669  
Non-GAAP net loss per ordinary share attributed to ordinary shareholders                                
Basic and diluted     (0.84 )     (0.23 )     (0.14 )     (0.02 )
Weighted average number of ADS used in calculating Non-GAAP net loss per ADS                                
Basic and diluted     230,186,689       255,290,167       256,106,067       256,106,067  
Non-GAAP net loss per ADS attributed to ordinary shareholders                                
Basic and diluted     (8.39 )     (2.33 )     (1.42 )     (0.20 )

 

14


 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(Amounts in millions, except share and per share data and otherwise noted)

 

    Six Months Ended  
    June 30     June 30     June 30  
    2024     2025     2025  
    RMB     RMB     US$  
Loss from operations     (3,963 )     (974 )     (135 )
Share-based compensation expenses     947       153       21  
Non-GAAP loss from operations     (3,016 )     (821 )     (114 )
                         
Net loss     (4,484 )     (1,050 )     (146 )
Share-based compensation expenses     947       153       21  
Non-GAAP net loss     (3,537 )     (897 )     (125 )
                         
Net loss attributable to ordinary shareholders     (4,858 )     (1,112 )     (155 )
Share-based compensation expenses     947       153       21  
Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group     (3,911 )     (959 )     (134 )
                         
Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share                        
Basic and diluted     2,150,933,444       2,557,003,707       2,557,003,707  
Non-GAAP net loss per ordinary share attributed to ordinary shareholders                        
Basic and diluted     (1.82 )     (0.38 )     (0.05 )
Weighted average number of ADS used in calculating Non-GAAP net loss per ADS                        
Basic and diluted     215,093,344       255,700,371       255,700,371  
Non-GAAP net loss per ADS attributed to ordinary shareholders                        
Basic and diluted     (18.18 )     (3.75 )     (0.52 )

 

15