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Zeekr Group Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results

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Zeekr Group (NYSE: ZK) reported strong Q4 and full year 2024 results, with significant growth in vehicle deliveries and improved financial metrics. Q4 deliveries reached 79,250 units, up 99.8% year-over-year, while full-year deliveries totaled 222,123 units, an 87.2% increase from 2023.

Q4 2024 financial highlights include vehicle sales of RMB19.3 billion (US$2.64 billion), up 82.2% YoY, with improved vehicle margin of 17.3%. Total revenues reached RMB22.8 billion (US$3.12 billion), a 39.2% YoY increase. While still operating at a loss, the company reduced its net loss by 72.1% YoY to RMB820.6 million (US$112.4 million).

For full year 2024, vehicle sales grew 63.1% to RMB55.3 billion, with total revenues of RMB75.9 billion. The company completed strategic integration with Lynk & Co in February 2025, achieving combined deliveries of 31,277 vehicles that month.

Zeekr Group (NYSE: ZK) ha riportato risultati solidi per il quarto trimestre e per l'intero anno 2024, con una crescita significativa nelle consegne di veicoli e un miglioramento dei parametri finanziari. Le consegne del quarto trimestre hanno raggiunto 79.250 unità, con un incremento del 99,8% rispetto all'anno precedente, mentre le consegne totali per l'intero anno hanno ammontato a 222.123 unità, con un aumento dell'87,2% rispetto al 2023.

I punti salienti finanziari del quarto trimestre 2024 includono vendite di veicoli per RMB19,3 miliardi (US$2,64 miliardi), in aumento dell'82,2% su base annua, con un margine sui veicoli migliorato al 17,3%. I ricavi totali hanno raggiunto RMB22,8 miliardi (US$3,12 miliardi), con un incremento del 39,2% su base annua. Sebbene l'azienda operi ancora in perdita, ha ridotto la sua perdita netta del 72,1% su base annua a RMB820,6 milioni (US$112,4 milioni).

Per l'intero anno 2024, le vendite di veicoli sono cresciute del 63,1% a RMB55,3 miliardi, con ricavi totali di RMB75,9 miliardi. L'azienda ha completato l'integrazione strategica con Lynk & Co a febbraio 2025, raggiungendo consegne combinate di 31.277 veicoli in quel mese.

Zeekr Group (NYSE: ZK) reportó resultados sólidos para el cuarto trimestre y el año completo 2024, con un crecimiento significativo en las entregas de vehículos y una mejora en los indicadores financieros. Las entregas del cuarto trimestre alcanzaron 79,250 unidades, un aumento del 99.8% interanual, mientras que las entregas totales del año fueron de 222,123 unidades, un incremento del 87.2% respecto a 2023.

Los aspectos destacados financieros del cuarto trimestre de 2024 incluyen ventas de vehículos por RMB19.3 mil millones (US$2.64 mil millones), un incremento del 82.2% interanual, con un margen de vehículo mejorado del 17.3%. Los ingresos totales alcanzaron RMB22.8 mil millones (US$3.12 mil millones), un aumento del 39.2% interanual. Aunque la empresa sigue operando con pérdidas, redujo su pérdida neta en un 72.1% interanual a RMB820.6 millones (US$112.4 millones).

Para el año completo 2024, las ventas de vehículos crecieron un 63.1% hasta RMB55.3 mil millones, con ingresos totales de RMB75.9 mil millones. La empresa completó la integración estratégica con Lynk & Co en febrero de 2025, logrando entregas combinadas de 31,277 vehículos en ese mes.

Zeekr Group (NYSE: ZK)는 2024년 4분기 및 연간 실적이 강력하며, 차량 인도량의 유의미한 성장과 재무 지표의 개선을 보고했습니다. 4분기 차량 인도량은 79,250대에 달해 전년 대비 99.8% 증가했으며, 연간 총 인도량은 222,123대로 2023년 대비 87.2% 증가했습니다.

2024년 4분기 재무 하이라이트에는 RMB19.3억(미국 달러 26.4억)의 차량 판매가 포함되어 있으며, 이는 전년 대비 82.2% 증가하고 차량 마진은 17.3%로 개선되었습니다. 총 수익은 RMB22.8억(미국 달러 31.2억)으로 전년 대비 39.2% 증가했습니다. 여전히 손실을 보고 있지만, 회사는 전년 대비 72.1% 감소한 RMB820.6백만(미국 달러 1.124백만)의 순손실을 기록했습니다.

2024년 전체 연간 차량 판매는 63.1% 증가하여 RMB55.3억에 달했으며, 총 수익은 RMB75.9억에 달했습니다. 이 회사는 2025년 2월 Lynk & Co와의 전략적 통합을 완료하고, 해당 달에 31,277대의 차량을 합산하여 인도했습니다.

Zeekr Group (NYSE: ZK) a annoncé de solides résultats pour le quatrième trimestre et l'année complète 2024, avec une croissance significative des livraisons de véhicules et une amélioration des indicateurs financiers. Les livraisons du quatrième trimestre ont atteint 79 250 unités, en hausse de 99,8 % par rapport à l'année précédente, tandis que les livraisons totales pour l'année ont totalisé 222 123 unités, soit une augmentation de 87,2 % par rapport à 2023.

Les points forts financiers du quatrième trimestre 2024 comprennent des ventes de véhicules de 19,3 milliards de RMB (2,64 milliards de dollars US), en hausse de 82,2 % d'une année sur l'autre, avec une marge sur les véhicules améliorée de 17,3 %. Les revenus totaux ont atteint 22,8 milliards de RMB (3,12 milliards de dollars US), soit une augmentation de 39,2 % d'une année sur l'autre. Bien que l'entreprise continue d'opérer à perte, elle a réduit sa perte nette de 72,1 % d'une année sur l'autre à 820,6 millions de RMB (112,4 millions de dollars US).

Pour l'année complète 2024, les ventes de véhicules ont augmenté de 63,1 % pour atteindre 55,3 milliards de RMB, avec des revenus totaux de 75,9 milliards de RMB. L'entreprise a achevé l'intégration stratégique avec Lynk & Co en février 2025, atteignant des livraisons combinées de 31 277 véhicules ce mois-là.

Zeekr Group (NYSE: ZK) hat starke Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 berichtet, mit signifikantem Wachstum bei den Fahrzeugauslieferungen und verbesserten finanziellen Kennzahlen. Die Auslieferungen im vierten Quartal erreichten 79.250 Einheiten, was einem Anstieg von 99,8% im Jahresvergleich entspricht, während die Gesamtauslieferungen für das Jahr 222.123 Einheiten betrugen, ein Anstieg von 87,2% im Vergleich zu 2023.

Die finanziellen Highlights des vierten Quartals 2024 umfassen Fahrzeugverkäufe von RMB19,3 Milliarden (US$2,64 Milliarden), was einem Anstieg von 82,2% im Jahresvergleich entspricht, mit einer verbesserten Fahrzeugmarge von 17,3%. Die Gesamterlöse beliefen sich auf RMB22,8 Milliarden (US$3,12 Milliarden), ein Anstieg von 39,2% im Jahresvergleich. Obwohl das Unternehmen weiterhin Verluste macht, konnte es seinen Nettoverlust im Jahresvergleich um 72,1% auf RMB820,6 Millionen (US$112,4 Millionen) reduzieren.

Für das gesamte Jahr 2024 stiegen die Fahrzeugverkäufe um 63,1% auf RMB55,3 Milliarden, mit Gesamterlösen von RMB75,9 Milliarden. Das Unternehmen schloss im Februar 2025 die strategische Integration mit Lynk & Co ab und erreichte in diesem Monat kombinierte Auslieferungen von 31.277 Fahrzeugen.

Positive
  • Vehicle deliveries nearly doubled (+99.8%) YoY in Q4 2024
  • Vehicle margin improved to 17.3% in Q4 2024 from 15.3% YoY
  • Q4 net loss reduced by 72.1% YoY
  • Full year revenue increased 46.9% to RMB75.9 billion
  • Strategic integration with Lynk & Co completed, expanding market presence
Negative
  • Company still operating at a loss of RMB820.6 million in Q4 2024
  • Operating loss increased 18.1% QoQ in Q4 2024
  • R&D expenses increased 63% QoQ in Q4 2024

Insights

Zeekr's Q4 2024 results demonstrate robust growth momentum with total vehicle deliveries reaching 79,250 units—nearly doubling year-over-year—alongside significant financial improvements. The company achieved RMB22.8 billion ($3.12 billion) in Q4 revenue, representing a 39.2% year-over-year increase, while vehicle sales surged 82.2% to $2.64 billion.

The notable margin expansion is particularly encouraging, with vehicle margins improving to 17.3% in Q4 from 15.3% a year earlier, while gross margin expanded substantially to 19.0% from 14.2%. This indicates Zeekr's improving operational efficiency and cost discipline despite competitive market pressures.

While still operating at a loss, Zeekr significantly narrowed its Q4 operating loss by 51.3% year-over-year to $196.7 million, and reduced net losses by 72.1% to $112.4 million. The sequential quarter-over-quarter improvements further highlight the company's progress toward profitability.

The strategic integration with Lynk & Co, completed in February 2025, represents a transformative development that immediately expanded Zeekr's delivery volume to 31,277 vehicles in February alone. This acquisition enhances Zeekr's scale, diversifies its product portfolio, and creates opportunities for operational synergies, positioning the company as a more formidable competitor in the premium EV market.

For full-year 2024, Zeekr delivered 222,123 vehicles (up 87.2%) and generated $10.4 billion in revenue (up 46.9%), demonstrating consistent execution of its growth strategy despite a challenging industry environment.

Zeekr's Q4 performance reflects the company's successful execution of a multi-pronged strategy in the hyper-competitive EV market. The 99.8% year-over-year delivery growth significantly outpaces the broader EV market, indicating strong product-market fit and effective distribution.

The vehicle margin improvement to 17.3% is particularly impressive for a relatively young EV manufacturer. This margin level now positions Zeekr ahead of many domestic competitors and approaches the profitability metrics of more established players. The margin expansion stems from three key factors: supply chain optimization, manufacturing scale economies, and strategic pricing adjustments across their product lineup.

The Lynk & Co acquisition represents a shrewd strategic move, instantly adding approximately 17,000 monthly deliveries to Zeekr's volumes. This integration creates a more balanced portfolio spanning multiple price segments and vehicle types. More importantly, it enables shared platform development, consolidated purchasing power, and manufacturing rationalization that should drive further margin improvements.

Zeekr's product roadmap expansion with vehicles like the upcoming 007GT shooting-brake indicates a sophisticated portfolio strategy targeting specific high-value market segments rather than pursuing volume at all costs. The company's presence at CES 2025 also signals its ambitions in advanced technology and global markets beyond China.

The key challenge ahead will be achieving profitability while maintaining growth momentum. With significantly reduced losses and improved unit economics, Zeekr appears to be executing the difficult transition from growth-at-all-costs to sustainable business fundamentals more effectively than many EV startups.

HANGZHOU, China, March 20, 2025 /PRNewswire/ -- 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 fourth quarter and full year ended December 31, 2024.

Operating Highlights for the Fourth Quarter and Full Year of 2024

  • Total vehicle deliveries were 79,250 units for the fourth quarter of 2024, representing a 99.8% year-over-year increase.

  • Total vehicle deliveries were 222,123 units in 2024, representing an 87.2% year-over-year increase.

Deliveries

FY2024


2024 Q4


2024 Q3


2024 Q2


2024 Q1


222,123


79,250


55,003


54,811


33,059











Deliveries

FY2023


2023 Q4


2023 Q3


2023 Q2


2023 Q1


118,685


39,657


36,395


27,399


15,234

Financial Highlights for the Fourth Quarter of 2024

  • Vehicle sales were RMB19,301.6 million (US$2,644.3 million)[1] for the fourth quarter of 2024, representing an increase of 82.2% from the fourth quarter of 2023 and an increase of 34.0% from the third quarter of 2024.

  • Vehicle margin[2] was 17.3% for the fourth quarter of 2024, compared with 15.3% for the fourth quarter of 2023 and 15.7% for the third quarter of 2024.

  • Total revenues were RMB22,777.8 million (US$3,120.6 million) for the fourth quarter of 2024, representing an increase of 39.2% from the fourth quarter of 2023 and an increase of 24.1% from the third quarter of 2024.

  • Gross profit was RMB4,316.5 million (US$591.4 million) for the fourth quarter of 2024, representing an increase of 85.4% from the fourth quarter of 2023 and an increase of 46.7% from the third quarter of 2024.

  • Gross margin was 19.0% for the fourth quarter of 2024, compared with 14.2% for the fourth quarter of 2023 and 16.0% for the third quarter of 2024.

  • Loss from operations was RMB1,436.1 million (US$196.7 million) for the fourth quarter of 2024, representing a decrease of 51.3% from the fourth quarter of 2023 and an increase of 18.1% from the third quarter of 2024. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP)[3] was RMB1,352.8 million (US$185.3 million) for the fourth quarter of 2024, representing a decrease of 53.6% from the fourth quarter of 2023 and an increase of 15.6% from the third quarter of 2024.

  • Net loss was RMB820.6 million (US$112.4 million) for the fourth quarter of 2024, representing a decrease of 72.1% from the fourth quarter of 2023 and a decrease of 28.0% from the third quarter of 2024. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB737.2 million (US$101.0 million) for the fourth quarter of 2024, representing a decrease of 74.6% from the fourth quarter of 2023 and a decrease of 32.5% from the third quarter of 2024.

[1] All conversions from Renminbi ("RMB") to U.S. dollars ("US$") are made at an exchange rate of RMB7.2993 to US$1.00, set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2024.

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

[3] 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.

Key Financial Results for the Fourth Quarter of 2024

(in RMB millions, except for percentages)


2024 Q4

2024 Q3

2023 Q4

% Change i 





YoY

QoQ

Vehicle sales

19,301.6

14,401.3

10,592.6

82.2 %

34.0 %

Vehicle margin

17.3 %

15.7 %

15.3 %

2.0pts

1.6pts







Total revenues

22,777.8

18,358.0

16,357.9

39.2 %

24.1 %

Gross profit

4,316.5

2,941.8

2,328.3

85.4 %

46.7 %

Gross margin

19.0 %

16.0 %

14.2 %

4.8pts

3.0pts







Loss from operations

(1,436.1)

(1,216.4)

(2,950.1)

(51.3) %

18.1 %

Non-GAAP loss from operations

(1,352.8)

(1,169.8)

(2,914.8)

(53.6) %

15.6 %







Net loss

(820.6)

(1,139.1)

(2,937.9)

(72.1) %

(28.0) %

Non-GAAP net loss

(737.2)

(1,092.6)

(2,902.6)

(74.6) %

(32.5) %

i 

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

Financial Highlights for the Full Year of 2024

  • Vehicle sales were RMB55,315.3 million (US$7,578.2 million) for the full year of 2024, representing an increase of 63.1% from the prior year.

  • Vehicle margin was 15.6% for the full year of 2024, compared with 15.0% for the prior year.

  • Total revenues were RMB75,912.7 million (US$10,400.0 million) for the full year of 2024, representing an increase of 46.9% from the prior year.

  • Gross profit was RMB12,447.5 million (US$1,705.3 million) for the full year of 2024, representing an increase of 81.7% from the prior year.

  • Gross margin was 16.4% for the full year of 2024, compared with 13.3% for the prior year.

  • Loss from operations was RMB6,460.4 million (US$885.1 million) for the full year of 2024, representing a decrease of 21.0% from the prior year. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB5,383.8 million (US$737.6 million) for the full year of 2024, representing a decrease of 33.1% from the prior year.

  • Net loss was RMB5,790.6 million (US$793.3 million) for the full year of 2024, representing a decrease of 29.9% from the prior year. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB4,714.1 million (US$645.8 million) for the full year of 2024, representing a decrease of 42.0% from the prior year.

Key Financial Results for the Full Year of 2024

(in RMB millions, except for percentages)


2024

2023

% Change i 




YoY

Vehicle sales

55,315.3

33,911.8

63.1 %

Vehicle margin

15.6 %

15.0 %

0.6pts





Total revenues

75,912.7

51,672.6

46.9 %

Gross profit

12,447.5

6,850.5

81.7 %

Gross margin

16.4 %

13.3 %

3.1pts





Loss from operations

(6,460.4)

(8,178.1)

(21.0) %

Non-GAAP loss from operations

(5,383.8)

(8,042.4)

(33.1) %





Net loss

(5,790.6)

(8,264.2)

(29.9) %

Non-GAAP net loss

(4,714.1)

(8,128.5)

(42.0) %

i 

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

Recent Developments

Delivery Update

In January 2025, the Zeekr brand delivered 11,942 vehicles. Following the completion of the Lynk & Co acquisition, Zeekr Group achieved total deliveries of 31,277 vehicles in February 2025. This included 14,039 Zeekr brand vehicles and 17,238 Lynk & Co brand vehicles.

Key Events

In January 2025, the Company made a significant appearance at CES 2025 in Las Vegas, unveiling a series of strategic initiatives and technological advancements in intelligent mobility. The event highlighted the Company's cutting-edge innovations in smart cockpit technology, autonomous driving, global charging infrastructure, and next-generation mobility solutions, reinforcing the Company's commitment to redefining the future of sustainable and intelligent transportation.

On February 14, 2025, Zeekr Group announced the closing of the Strategic Integration Transactions with Geely entities that were previously announced on November 14, 2024. Following the completion of such transactions, Lynk & Co has become the Company's indirect non-wholly-owned subsidiary.

Product Roadmap

The Zeekr brand introduced the Zeekr 007GT in January 2025, an enhanced shooting-brake model derived from the Zeekr Upscale Sedan Model, slated for launch in the second quarter of 2025.

CEO and CFO Comments

"In the fourth quarter, we achieved a historic milestone with our highest delivery volume since inception, delivering 79,250 units—nearly double that of the same period last year," said Mr. Andy An, Zeekr Group's chief executive officer. "We also completed the strategic integration of Zeekr and Lynk & Co in just three months, solidifying Zeekr Group as a formidable global force. Looking ahead to 2025, we will continue expanding our product lineup and enhancing competitiveness. By leveraging AI-driven innovation and accelerating our global expansion strategy, we will advance our strategic vision and unlock greater synergies. We remain committed to leading the premium new energy market through scalable growth and robust risk resilience."

Mr. Jing Yuan, Zeekr Group's chief financial officer, added, "In the fourth quarter of 2024, we drove exceptional results in vehicle deliveries, spurring strong revenue growth. Total revenue for the quarter surged 39.2% year-over-year to RMB22.8 billion. Thanks to rigorous cost discipline in supply chain management, economies of scale, and technology-driven cost reduction initiatives, we also continued to enhance profitability, achieving sequential improvement in vehicle margins to 17.3% in the fourth quarter and 15.6% for the full year. As we enter 2025, following the successful strategic integration with Lynk & Co, we will stay focused on accelerating resource integration and unleashing greater synergies to enhance shareholder returns and create sustainable long-term value."

Financial Results for the Fourth Quarter of 2024

Revenues

  • Total revenues were RMB22,777.8 million (US$3,120.6 million) for the fourth quarter of 2024, representing an increase of 39.2% from RMB16,357.9 million for the fourth quarter of 2023 and an increase of 24.1% from RMB18,358.0 million for the third quarter of 2024.

  • Revenues from vehicle sales were RMB19,301.6 million (US$2,644.3 million) for the fourth quarter of 2024, representing an increase of 82.2% from RMB10,592.6 million for the fourth quarter of 2023, and an increase of 34.0% from RMB14,401.3 million for the third quarter of 2024. The year-over-year increase was attributable to the increase in new product delivery volume, partially offset by the lower average selling price due to changes in product mix and pricing strategy between the two quarters. The quarter-over-quarter increase was mainly attributable to the significant increase in deliveries of Zeekr 7X in the fourth quarter of 2024.

  • Revenues from sales of batteries and other components were RMB1,930.8 million (US$264.5 million) for the fourth quarter of 2024, representing a decrease of 52.2% from RMB4,038.1 million for the fourth quarter of 2023 and a decrease of 40.5% from RMB3,245.3 million for the third quarter of 2024. The year-over-year and quarter-over-quarter decrease were mainly due to the decreased sales volume and unit price of battery packs and electric drives.

  • Revenues from research and development service and other services were RMB1,545.4 million (US$211.7 million) for the fourth quarter of 2024, representing a decrease of 10.5% from RMB1,727.2 million for the fourth quarter of 2023 and an increase of 117.2% from RMB711.4 million for the third quarter of 2024. The year-over-year decrease was mainly due to the significant growth in sales of R&D service to our related parts in the fourth quarter of 2023, partially offset by the increased sales of vehicle spare parts in the fourth quarter of 2024. The quarter-over-quarter increase was mainly attributable to the acceptance of a cluster of R&D projects at the end of the year.

Cost of Revenues and Gross Margin

  • Cost of revenues was RMB18,461.4 million (US$2,529.2 million) for the fourth quarter of 2024, representing an increase of 31.6% from RMB14,029.6 million for the fourth quarter of 2023 and an increase of 19.8% from RMB15,416.2 million for the third quarter of 2024. The year-over-year increase was mainly attributable to the increase in vehicle deliveries, partially offset by the lower average cost of sales due to changes in product mix between the two quarters. The quarter-over-quarter increase was mainly attributable to the increase in vehicle delivery volume, partially offset by procurement savings as the cost of auto parts and materials decreased.

  • Gross profit was RMB4,316.5 million (US$591.4 million) for the fourth quarter of 2024, representing an increase of 85.4% from RMB2,328.3 million for the fourth quarter of 2023 and an increase of 46.7% from RMB2,941.8 million for the third quarter of 2024.

  • Gross margin was 19.0% for the fourth quarter of 2024, compared with 14.2% for the fourth quarter of 2023 and 16.0% for the third quarter of 2024.

  • Vehicle margin was 17.3% for the fourth quarter of 2024, compared with 15.3% for the fourth quarter of 2023 and 15.7% for the third quarter of 2024. The year-over-year increase was primarily attributed to the cost reduction. The quarter-over-quarter increase was mainly due to our continuous cost reduction initiatives.

Operating Expenses

  • Research and development expenses were RMB3,205.3 million (US$439.1 million) for the fourth quarter of 2024, representing an increase of 1.4% from RMB3,162.5 million for the fourth quarter of 2023 and an increase of 63.0% from RMB1,966.2 million for the third quarter of 2024. The slight year-over-year increase was in line with our investment strategy in research and development, which was partially offset by lower vehicle technology usage fees. The quarter-over-quarter increase was mainly due to the incremental design and development costs for new products and technologies.

  • Selling, general and administrative expenses were RMB2,816.5 million (US$385.9 million) for the fourth quarter of 2024, representing an increase of 27.6% from RMB2,207.9 million for the fourth quarter of 2023 and an increase of 23.8% from RMB2,274.8 million for the third quarter of 2024. The year-over-year increase and quarter-over-quarter increase were in line with our expansion of offline channels in both China and overseas as well as our marketing activities to launch new models.

Loss from Operations

  • Loss from operations was RMB1,436.1 million (US$196.7 million) for the fourth quarter of 2024, representing a decrease of 51.3% from RMB2,950.1 million for the fourth quarter of 2023 and an increase of 18.1% from RMB1,216.4 million for the third quarter of 2024.

  • Non-GAAP loss from operations, which excludes share-based compensation expenses from loss from operations, was RMB1,352.8 million (US$185.3 million) for the fourth quarter of 2024, representing a decrease of 53.6% from RMB2,914.8 million for the fourth quarter of 2023 and an increase of 15.6% from RMB1,169.8 million for the third quarter of 2024.

Net Loss and Net Loss Per Share

  • Net loss was RMB820.6 million (US$112.4 million) for the fourth quarter of 2024, representing a decrease of 72.1% from RMB2,937.9 million for the fourth quarter of 2023 and a decrease of 28.0% from RMB1,139.1 million for the third quarter of 2024.

  • Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB737.2 million (US$101.0 million) for the fourth quarter of 2024, representing a decrease of 74.6% from RMB2,902.6 million for the fourth quarter of 2023 and a decrease of 32.5% from RMB1,092.6 million for the third quarter of 2024.

  • Net loss attributable to ordinary shareholders of Zeekr was RMB992.8 million (US$136.0 million) for the fourth quarter of 2024, representing a decrease of 66.8% from RMB2,986.9 million for the fourth quarter of 2023 and a decrease of 19.0% from RMB1,226.3 million for the third quarter of 2024.

  • Non-GAAP net loss attributable to ordinary shareholders of Zeekr, which excludes share-based compensation expenses from net loss attributable to ordinary shareholders, was RMB909.4 million (US$124.6 million) for the fourth quarter of 2024, representing a decrease of 69.2% from RMB2,951.6 million for the fourth quarter of 2023 and a decrease of 22.9% from RMB1,179.7 million for the third quarter of 2024.

  • Basic and diluted net loss per share attributed to ordinary shareholders were RMB0.39 (US$0.05) each for the fourth quarter of 2024, compared with RMB1.49 each for the fourth quarter of 2023 and RMB0.48 each for the third quarter of 2024.

  • Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.36 (US$0.05) each for the fourth quarter of 2024, compared with RMB1.48 each for the fourth quarter of 2023 and RMB0.46 each for the third quarter of 2024.

  • Basic and diluted net loss per American Depositary Share ("ADS[4]") attributed to ordinary shareholders were RMB3.89 (US$0.53) each for the fourth quarter of 2024, compared with RMB4.80 each for the third quarter of 2024.

  • Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were RMB3.56 (US$0.49) each for the fourth quarter of 2024, compared with RMB4.62 each for the third quarter of 2024.

[4] Each ADS represents ten ordinary shares.

Balance Sheets

Cash and cash equivalents and restricted cash was RMB8,961.7 million (US$1,227.7 million) as of December 31, 2024.

Financial Results for the Full Year of 2024

Revenues

  • Total revenues were RMB75,912.7 million (US$10,400.0 million) for the full year of 2024, representing an increase of 46.9% from RMB51,672.6 million for the prior year.

  • Revenues from vehicle sales were RMB55,315.3 million (US$7,578.2 million) for the full year of 2024, representing an increase of 63.1% from RMB33,911.8 million for the prior year. The year-over-year increase was due to the increase in new product delivery volume, partially offset by the lower average selling price due to changes in product mix and pricing strategy between the two years.

  • Revenues from sales of batteries and other components were RMB16,793.8 million (US$2,300.7 million) for the full year of 2024, representing an increase of 14.3% from RMB14,692.6 million for the prior year. The year-over-year increase was mainly due to the higher sales volume of battery packs and electric drives, as well as the growth of overseas battery component sales.

  • Revenues from research and development service and other services were RMB3,803.5 million (US$521.1 million) for the full year of 2024, representing an increase of 24.0% from RMB3,068.2 million for the prior year. The year-over-year increase was mainly due to the increased sales of vehicle spare parts.

Cost of Revenues and Gross Margin

  • Cost of revenues was RMB63,465.2 million (US$8,694.7 million) for the full year of 2024, representing an increase of 41.6% from RMB44,822.1 million for the prior year. The year-over-year increase was mainly attributable to the increase in vehicle delivery volume.

  • Gross profit was RMB12,447.5 million (US$1,705.3 million) for the full year of 2024, representing an increase of 81.7% from RMB6,850.5 million for the prior year.

  • Gross margin was 16.4% for the full year of 2024, compared with 13.3% for the prior year. The year-over-year increase was mainly attributable to the increased margins on vehicles.

  • Vehicle margin was 15.6% for the full year of 2024, compared with 15.0% for the prior year. The year-over-year increase was primarily attributed to cost reductions and the impact of lower average selling prices of Zeekr vehicles due to changes in product mix and pricing strategy between the two years.

Operating Expenses

  • Research and development expenses were RMB9,720.2 million (US$1,331.7 million) for the full year of 2024, representing an increase of 16.1% from RMB8,369.2 million for the prior year. The year-over-year growth was primarily driven by non-cash share-based compensation expenses recognized for IPO-conditioned rewards that were cumulatively vested upon the Company's successful IPO during 2024, as well as increased design and development costs for new products and technologies.

  • Selling, general and administrative expenses were RMB9,647.4 million (US$1,321.7 million) for the full year of 2024, representing an increase of 39.4% from RMB6,920.6 million for the prior year. The year-over-year increase was primarily driven by share-based compensation expenses recognized for IPO-conditioned rewards that were cumulatively vested upon the Company's successful IPO, as well as increased employee compensation related to our global offline channel expansion.

Loss from Operations

  • Loss from operations was RMB6,460.4 million (US$885.1 million) for the full year of 2024, representing a decrease of 21.0% from RMB8,178.1 million for the prior year.

  • Non-GAAP loss from operations, which excludes share-based compensation expenses from loss from operations, was RMB5,383.8 million (US$737.6 million) for the full year of 2024, representing a decrease of 33.1% from RMB8,042.4 million for the prior year.

Net Loss and Net Loss Per Share

  • Net loss was RMB5,790.6 million (US$793.3 million) for the full year of 2024, representing a decrease of 29.9% from RMB8,264.2 million for the prior year.

  • Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB4,714.1 million (US$645.8 million) for the full year of 2024, representing a decrease of 42.0% from RMB8,128.5 million for the prior year.

  • Net loss attributable to ordinary shareholders of Zeekr was RMB6,423.6 million (US$880.0 million) for the full year of 2024, representing a decrease of 23.0% from RMB8,347.0 million for the prior year.

  • Non-GAAP net loss attributable to ordinary shareholders of Zeekr, which excludes share-based compensation expenses from net loss attributable to ordinary shareholders, was RMB5,347.0 million (US$732.5 million) for the full year of 2024, representing a decrease of 34.9% from RMB8,211.3 million for the prior year.

  • Basic and diluted net loss per share attributed to ordinary shareholders were RMB2.73 (US$0.37) each for the full year of 2024, compared with RMB4.17 each for the prior year.

  • Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were RMB2.27 (US$0.31) each for the full year of 2024, compared with RMB4.11 each for the prior year.

  • Basic and diluted net loss per American Depositary Share ("ADS") attributed to ordinary shareholders were RMB27.3 (US$3.74) each for the full year of 2024.

  • Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were RMB22.72 (US$3.11) each for the full year of 2024.

Conference Call

The Company's management will host an earnings conference call on Thursday, March 20, 2025, at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing/Hong Kong Time on the same day).

All participants who wish to join the call are requested to complete the online registration using the link provided below. After registration, each participant will receive by email a set of dial-in numbers, a passcode and a unique access PIN to join the conference call. Participants may pre-register at any time, including up to and after the call start time.

Participant Online Registration: https://dpregister.com/sreg/10197125/fe911aa92e

A live webcast of the conference call will be available on the Company's investor relations website at https://ir.zeekrgroup.com.

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 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 RMB7.2993 to US$1.00, the exchange rate on December 31, 2024, 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.

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

 

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)



As of


December 31


December 31


December 31


2023


2024


2024


RMB


RMB


US$







ASSETS






Current assets:






Cash and cash equivalents

3,260,670


7,782,827


1,066,243

Restricted cash

844,079


1,178,825


161,498

Notes receivable

487,851


1,108,747


151,898

Accounts receivable

1,104,450


1,744,334


238,973

Inventories

5,228,689


4,150,742


568,649

Amounts due from related parties

7,256,861


6,120,107


838,451

Prepayments and other current assets

2,294,508


3,072,003


420,863

Total current assets

20,477,108


25,157,585


3,446,575

Property, plant and equipment, net

2,914,274


3,225,287


441,863

Intangible assets, net

410,912


842,245


115,387

Land use rights, net

51,755


61,832


8,471

Operating lease right-of-use assets

2,443,545


2,142,879


293,573

Deferred tax assets

86,395


339,965


46,575

Long-term investments

459,794


685,911


93,969

Other non-current assets

273,717


215,016


29,455

Total non-current assets

6,640,392


7,513,135


1,029,293

TOTAL ASSETS

27,117,500


32,670,720


4,475,868

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands)



As of


December 31


December 31


December 31


2023


2024


2024


RMB


RMB


US$

LIABILITIES AND SHAREHOLDERS' EQUITY






Current liabilities:






Short-term Borrowings

-


30,300


4,151

Accounts payable

4,104,717


4,072,312


557,904

Notes payable and others

5,504,945


12,990,599


1,779,705

Amounts due to related parties

16,355,902


14,509,628


1,987,811

Income tax payable

108,083


60,856


8,337

Accruals and other current liabilities

6,243,956


8,478,772


1,161,587

Total current liabilities

32,317,603


40,142,467


5,499,495

Long-term borrowings

-


414,180


56,742

Operating lease liabilities, non-current

1,807,159


1,491,486


204,333

Amounts due to related parties, non-current

1,100,000


-


-

Other non-current liabilities

563,001


718,164


98,388

Deferred tax liability

8,337


57,252


7,843

Total non-current liabilities

3,478,497


2,681,082


367,306

TOTAL LIABILITIES

35,796,100


42,823,549


5,866,801







SHAREHOLDERS' EQUITY






Ordinary shares

2,584


3,361


460

Convertible preferred shares

362


-


-

Additional paid-in capital

11,213,798


15,757,089


2,158,712

Treasury stock

-


(186,812)


(25,593)

Accumulated deficits

(20,865,686)


(27,289,256)


(3,738,613)

Accumulated other comprehensive income/(loss)

17,555


(22,919)


(3,140)

Total Zeekr shareholders' deficit

(9,631,387)


(11,738,537)


(1,608,174)

Non-controlling interest

952,787


1,585,708


217,241

TOTAL SHAREHOLDERS' DEFICIT

(8,678,600)


(10,152,829)


(1,390,933)

TOTAL LIABILITIES AND SHAREHOLDERS'

EQUITY 

27,117,500


32,670,720


4,475,868

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME

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


Three Months Ended


December 31


September 30


December 31


December 31


2023


2024


2024


2024


RMB


RMB


RMB


US$

Revenues:








Vehicle sales

10,592,647


14,401,309


19,301,639


2,644,314

Sales of batteries and other components

4,038,075


3,245,331


1,930,781


264,516

Research and development service

and other services

1,727,203


711,362


1,545,426


211,722

Total revenues

16,357,925


18,358,002


22,777,846


3,120,552

Cost of revenues:








Vehicle sales

(8,974,061)


(12,146,781)


(15,958,509)


(2,186,307)

Sales of batteries and other components

(3,746,895)


(2,808,646)


(1,565,615)


(214,488)

Research and development service and

other services

(1,308,642)


(460,775)


(937,244)


(128,402)

Total cost of revenues

(14,029,598)


(15,416,202)


(18,461,368)


(2,529,197)

Gross profit

2,328,327


2,941,800


4,316,478


591,355

Operating expenses:








Research and development expenses

(3,162,517)


(1,966,167)


(3,205,297)


(439,124)

Selling, general and administrative

expenses

(2,207,938)


(2,274,751)


(2,816,458)


(385,853)

Other operating income, net

92,041


82,747


269,184


36,878

Total operating expenses

(5,278,414)


(4,158,171)


(5,752,571)


(788,099)

Loss from operations

(2,950,087)


(1,216,371)


(1,436,093)


(196,744)

Interest expense

(35,730)


(8,088)


(27,722)


(3,798)

Interest income

25,767


43,255


65,046


8,911

Investment income

-


-


726,973


99,595

Other income/(expense), net

6,420


54,967


(123,349)


(16,899)

Loss before income tax expense and

share of income (loss) in equity

method investments

(2,953,630)


(1,126,237)


(795,145)


(108,935)

Share of income (loss) in equity method

investments

109,061


81,500


(133,956)


(18,352)

Income tax benefits/(expense)

(93,350)


(94,409)


108,526


14,868

Net loss

(2,937,919)


(1,139,146)


(820,575)


(112,419)

Less: income attributable to non-

controlling interest

48,969


87,134


172,206


23,592

Net loss attributable to shareholders

of Zeekr

(2,986,888)


(1,226,280)


(992,781)


(136,011)

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME (CONTINUED)

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



Three Months Ended


December 31


September 30


December 31


December 31


2023


2024


2024


2024


RMB


RMB


RMB


US$

Net loss per share attributed to

ordinary shareholders:








Basic and diluted

(1.49)


(0.48)


(0.39)


(0.05)

Weighted average shares used in

calculating net loss per share:








Basic and diluted

2,000,000,000


2,552,901,668


2,552,901,668


2,552,901,668

Net loss per ADS attributed to

ordinary shareholders:








Basic and diluted

-


(4.80)


(3.89)


(0.53)

Weighted average ADS used in

calculating net loss per ADS:








Basic and diluted

-


255,290,167


255,290,167


255,290,167

Net loss

(2,937,919)


(1,139,146)


(820,575)


(112,419)

Other comprehensive income/(loss),

net of tax of nil:








Foreign currency translation

adjustments

38,684


(75,858)


3,483


477

Comprehensive loss

(2,899,235)


(1,215,004)


(817,092)


(111,942)

Less: comprehensive income/(loss)

attributable to non-controlling interest

48,969


87,134


172,206


23,592

Comprehensive loss attributable to

shareholders of Zeekr

(2,948,204)


(1,302,138)


(989,298)


(135,534)

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME

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



For the Year Ended


December 31


December 31


December 31


2023


2024


2024


RMB


RMB


US$

Revenues:






Vehicle sales

33,911,762


55,315,306


7,578,166

Sales of batteries and other components

14,692,617


16,793,818


2,300,744

Research and development service and other

services

3,068,239


3,803,527


521,081

Total revenues

51,672,618


75,912,651


10,399,991

Cost of revenues:






Vehicle sales

(28,831,552)


(46,665,051)


(6,393,086)

Sales of batteries and other components

(13,808,131)


(14,481,073)


(1,983,899)

Research and development service and other

services

(2,182,405)


(2,319,076)


(317,712)

Total cost of revenues

(44,822,088)


(63,465,200)


(8,694,697)

Gross profit

6,850,530


12,447,451


1,705,294

Operating expenses:






Research and development expenses

(8,369,207)


(9,720,213)


(1,331,664)

Selling, general and administrative expenses

(6,920,561)


(9,647,404)


(1,321,689)

Other operating income, net

261,188


459,743


62,985

Total operating expenses

(15,028,580)


(18,907,874)


(2,590,368)

Loss from operations

(8,178,050)


(6,460,423)


(885,074)

Interest expense

(256,081)


(69,906)


(9,577)

Interest income

94,624


171,030


23,430

Investment income

-


726,973


99,595

Other income/(expense), net

50,587


(105,849)


(14,500)

Loss before income tax expense and share of

income (loss) in equity method investments

(8,288,920)


(5,738,175)


(786,126)

Share of income (loss) in equity method

investments

86,842


124,278


17,026

Income tax expense

(62,113)


(176,752)


(24,215)

Net loss

(8,264,191)


(5,790,649)


(793,315)

Less: income attributable to non-controlling

interest

82,789


632,921


86,710

Net loss attributable to shareholders of Zeekr

(8,346,980)


(6,423,570)


(880,025)

 

ZEEKR INC.

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

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



For the Year Ended


December 31


December 31


December 31


2023


2024


2024


RMB


RMB


US$

Net loss per share attributed to ordinary

shareholders:






Basic and diluted

(4.17)


(2.73)


(0.37)

Weighted average shares used in

calculating net loss per share:






Basic and diluted

2,000,000,000


2,353,015,830


2,353,015,830

Net loss per ADS attributed to ordinary

shareholders:






Basic and diluted

-


(27.30)


(3.74)

Weighted average ADS used in calculating

net loss per ADS:






Basic and diluted

-


235,301,583


235,301,583

Net loss

(8,264,191)


(5,790,649)


(793,315)

Other comprehensive income, net of tax of

nil:






Foreign currency translation adjustments

49,765


(40,474)


(5,545)

Comprehensive loss

(8,214,426)


(5,831,123)


(798,860)

Less: comprehensive income attributable to

non-controlling interest

82,789


632,921


86,710

Comprehensive loss attributable to

shareholders of Zeekr

(8,297,215)


(6,464,044)


(885,570)

 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

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



Three Months Ended


December 31


September 30


December 31


December 31


2023


2024


2024


2024


RMB


RMB


RMB


US$

Loss from operations

(2,950,087)


(1,216,371)


(1,436,093)


(196,744)

Share-based compensation expenses

35,308


46,595


83,334


11,417

Non-GAAP loss from operations

(2,914,779)


(1,169,776)


(1,352,759)


(185,327)

Net loss

(2,937,919)


(1,139,146)


(820,575)


(112,419)

Share-based compensation expenses

35,308


46,595


83,334


11,417

Non-GAAP net loss

(2,902,611)


(1,092,551)


(737,241)


(101,002)

Net loss attributable to ordinary

shareholders

(2,986,888)


(1,226,280)


(992,781)


(136,011)

Share-based compensation expenses

35,308


46,595


83,334


11,417

Non-GAAP net loss attributable to

ordinary shareholders of Zeekr

(2,951,580)


(1,179,685)


(909,447)


(124,594)









Weighted average number of

ordinary shares used in calculating

Non-GAAP net loss per share








Basic and diluted

2,000,000,000


2,552,901,668


2,552,901,668


2,552,901,668

Non-GAAP net loss per ordinary

share attributed to ordinary

shareholders








Basic and diluted

(1.48)


(0.46)


(0.36)


(0.05)

Weighted average number of ADS

used in calculating Non-GAAP

net loss per ADS








Basic and diluted

-


255,290,167


255,290,167


255,290,167

Non-GAAP net loss per ADS

attributed to ordinary shareholders








Basic and diluted

-


(4.62)


(3.56)


(0.49)

 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

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



For the Year Ended


December 31


December 31


December 31


2023


2024


2024


RMB


RMB


US$

Loss from operations

(8,178,050)


(6,460,423)


(885,074)

Share-based compensation expenses

135,649


1,076,584


147,491

Non-GAAP loss from operations

(8,042,401)


(5,383,839)


(737,583)

Net loss

(8,264,191)


(5,790,649)


(793,315)

Share-based compensation expenses

135,649


1,076,584


147,491

Non-GAAP net loss

(8,128,542)


(4,714,065)


(645,824)

Net loss attributable to ordinary shareholders

(8,346,980)


(6,423,570)


(880,025)

Share-based compensation expenses

135,649


1,076,584


147,491

Non-GAAP net loss attributable to

ordinary shareholders of Zeekr

(8,211,331)


(5,346,986)


(732,534)







Weighted average number of ordinary

shares used in calculating Non-GAAP net

loss per share






Basic and diluted

2,000,000,000


2,353,015,830


2,353,015,830

Non-GAAP net loss per ordinary share

attributed to ordinary shareholders






Basic and diluted

(4.11)


(2.27)


(0.31)

Weighted average number of ADS used in

calculating Non-GAAP net loss per ADS






Basic and diluted

-


235,301,583


235,301,583

Non-GAAP net loss per ADS attributed to

ordinary shareholders






Basic and diluted

-


(22.72)


(3.11)

 

Cision View original content:https://www.prnewswire.com/news-releases/zeekr-group-reports-fourth-quarter-and-full-year-2024-unaudited-financial-results-302406685.html

SOURCE ZEEKR Intelligent Technology Holding Limited

FAQ

What was Zeekr's (ZK) vehicle delivery growth in Q4 2024?

Zeekr delivered 79,250 vehicles in Q4 2024, representing a 99.8% increase compared to Q4 2023.

How much did Zeekr's (ZK) vehicle margin improve in Q4 2024?

Vehicle margin improved to 17.3% in Q4 2024, up from 15.3% in Q4 2023 and 15.7% in Q3 2024.

What was Zeekr's (ZK) total revenue for full year 2024?

Total revenue for full year 2024 was RMB75.9 billion (US$10.4 billion), a 46.9% increase from 2023.

How much did Zeekr (ZK) reduce its net loss in Q4 2024?

Net loss decreased by 72.1% year-over-year to RMB820.6 million (US$112.4 million) in Q4 2024.

What was the impact of Zeekr's (ZK) integration with Lynk & Co in February 2025?

Following the integration, Zeekr Group achieved combined deliveries of 31,277 vehicles in February 2025, including 14,039 Zeekr and 17,238 Lynk & Co vehicles.
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ZEEKR Intelligent Technology Holding Ltd

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ZK Latest News

Apr 15, 2025
Zeekr Group to Report First Quarter 2025 Financial Results on May 15, 2025
Apr 1, 2025
Zeekr Group Announces March 2025 Delivery Update
Mar 20, 2025
Zeekr Group Announced Unaudited Pro Forma Condensed Combined Financial Information
Mar 20, 2025
Zeekr Group Files Its 2024 Annual Report on Form 20-F
Mar 1, 2025
Zeekr Group Announces February 2025 Delivery Update

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