ZEEKR Reports First Quarter 2024 Unaudited Financial Results
ZEEKR, a growing BEV technology company, reported its Q1 2024 unaudited financial results with significant milestones. The company delivered 33,059 vehicles, a 117% increase YoY, but a 16.7% decrease QoQ. Vehicle sales reached RMB 8,174.1 million (US$1,132.1 million), up 73% YoY but down 22.8% QoQ. Total revenue was RMB 14,736.8 million (US$2,041.0 million), a 71% YoY increase but a 9.9% QoQ decline. The gross margin improved to 11.8%, up from 7.9% YoY but down from 14.2% QoQ. The company's net loss decreased by 18% YoY and 31.2% QoQ to RMB 2,022.1 million (US$280.1 million).
- Total vehicle deliveries increased by 117% YoY.
- Vehicle sales rose by 73% YoY to RMB 8,174.1 million (US$1,132.1 million).
- Total revenues increased by 71% YoY to RMB 14,736.8 million (US$2,041.0 million).
- Gross profit surged by 154.9% YoY to RMB 1,739.4 million (US$240.9 million).
- Gross margin improved to 11.8%, from 7.9% YoY.
- Vehicle margin increased to 14.0% from 10.1% YoY.
- Net loss decreased by 18% YoY and 31.2% QoQ to RMB 2,022.1 million (US$280.1 million).
- Successful IPO on NYSE in May 2024 enhanced the financial position.
- Vehicle sales decreased by 22.8% QoQ.
- Total revenues fell by 9.9% QoQ.
- Gross profit declined by 25.3% QoQ.
- Gross margin decreased from 14.2% QoQ to 11.8%.
- Vehicle margin dropped from 15.3% QoQ to 14.0%.
- Net loss remains significant at RMB 2,022.1 million (US$280.1 million).
The first quarter of 2024 showed significant year-over-year growth for ZEEKR, with total vehicle deliveries up by
However, when compared quarter-over-quarter to Q4 2023, ZEEKR experienced a
The gross margin increased year-over-year from
Given these financial results, ZEEKR shows a strong growth potential, yet investors should be mindful of the seasonal fluctuations and the impact of product mix changes on margins.
ZEEKR's delivery volumes reveal a robust growth trajectory, with April and May 2024 deliveries increasing
The company's strategy to expand its product portfolio with feature-rich models and to enhance its charging infrastructure suggests a forward-looking approach. This aligns ZEEKR with the global trend towards sustainable and intelligent vehicle technologies.
Nevertheless, the competitive landscape in the BEV market, especially in China, is intense. ZEEKR's ability to maintain its growth momentum and market leadership in the premium segment priced over RMB200,000 will be essential for long-term success. Investors should monitor the company's progress in expanding its market share amid increasing competition and evolving consumer demands.
The launch of the new ZEEKR 001 and 009 Grand models signifies the company's continuous innovation in the BEV sector. These models are positioned to capture the high-end market with advanced features and luxury elements, which is a strategic move to differentiate ZEEKR from its competitors.
ZEEKR's emphasis on intelligent and autonomous technology, coupled with the development of an ultra-fast charging ecosystem, reflects a commitment to enhancing the user experience and supporting the broader adoption of BEVs. This technological advancement could potentially set new benchmarks in the industry, making ZEEKR a leader in tech-driven mobility solutions.
The synergy with the Geely Group provides a solid foundation for innovation and resource sharing, which could accelerate ZEEKR's R&D efforts and market expansion. For investors, this ongoing innovation represents a significant value proposition, although they should remain aware of the execution risks associated with high R&D investments.
Operating Highlights for the First Quarter of 2024
- Total vehicle deliveries were 33,059 units for the first quarter of 2024, representing a
117% year-over-year increase.
Deliveries | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | ||||
33,059 | 39,657 | 36,395 | 27,399 | |||||
Deliveries | 2023 Q1 | 2022 Q4 | 2022 Q3 | 2022 Q2 | ||||
15,234 | 32,467 | 20,464 | 10,769 |
Financial Highlights for the First Quarter of 2024
- Vehicle sales were
RMB8,174.1 million (US ) for the first quarter of 2024, representing an increase of$1,132.1 million 73.0% from the first quarter of 2023 and a decrease of22.8% from the fourth quarter of 2023. - Vehicle margin was
14.0% for the first quarter of 2024, compared with10.1% for the first quarter of 2023 and15.3% for the fourth quarter of 2023. - Total revenues were
RMB14,736.8 million (US ) for the first quarter of 2024, representing an increase of$2,041.0 million 71.0% from the first quarter of 2023 and a decrease of9.9% from the fourth quarter of 2023. - Gross profit was
RMB1,739.4 million (US ) for the first quarter of 2024, representing an increase of$240.9 million 154.9% from the first quarter of 2023 and a decrease of25.3% from the fourth quarter of 2023. - Gross margin was
11.8% for the first quarter of 2024, compared with7.9% for the first quarter of 2023 and14.2% for the fourth quarter of 2023. - Loss from operations was
RMB2,086.9 million (US ) for the first quarter of 2024, representing a decrease of$289.0 million 11.2% from the first quarter of 2023 and a decrease of29.3% from the fourth quarter of 2023. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) wasRMB2,084.2 million (US ) for the first quarter of 2024, representing a decrease of$288.7 million 10.0% from the first quarter of 2023 and a decrease of28.5% from the fourth quarter of 2023. - Net loss was
RMB2,022.1 million (US ) for the first quarter of 2024, representing a decrease of$280.1 million 18.0% from the first quarter of 2023 and a decrease of31.2% from the fourth quarter of 2023. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) wasRMB2,019.4 million (US ) for the first quarter of 2024, representing a decrease of$279.7 million 17.0% from the first quarter of 2023 and a decrease of30.4% from the fourth quarter of 2023.
Key Financial Results
(in RMB millions, except for percentages)
2024 Q1 | 2023 Q4 | 2023 Q1 | % Change i | |||||||||||||
YoY | QoQ | |||||||||||||||
Vehicle sales | 8,174.1 | 10,592.6 | 4,725.2 | 73.0 % | (22.8) % | |||||||||||
Vehicle margin | 14.0 % | 15.3 % | 10.1 % | 3.9 % | (1.3) % | |||||||||||
Total revenues | 14,736.8 | 16,357.9 | 8,620.4 | 71.0 % | (9.9) % | |||||||||||
Gross profit | 1,739.4 | 2,328.3 | 682.5 | 154.9 % | (25.3) % | |||||||||||
Gross margin | 11.8 % | 14.2 % | 7.9 % | 3.9 % | (2.4) % | |||||||||||
Loss from operations | (2,086.9) | (2,950.1) | (2,349.2) | (11.2) % | (29.3) % | |||||||||||
Non-GAAP loss from operations | (2,084.2) | (2,914.8) | (2,316.5) | (10.0) % | (28.5) % | |||||||||||
Net loss | (2,022.1) | (2,937.9) | (2,465.4) | (18.0) % | (31.2) % | |||||||||||
Non-GAAP net loss | (2,019.4) | (2,902.6) | (2,432.6) | (17.0) % | (30.4) % | |||||||||||
i Except for vehicle margin and gross margin, where absolute changes instead of percentage changes |
Recent Developments
Delivery Updates
In April 2024, the Company delivered 16,089 vehicles, representing an increase of
In May 2024, the Company delivered 18,616 vehicles, representing an increase of
New Model Launches
In February 2024, the Company launched the all-new ZEEKR 001 2024 model, a five-seater, cross-over shooting brake, and started deliveries in March 2024.
In April 2024, the Company launched the ZEEKR 009 Grand, a deluxe version of the ZEEKR 009, and started deliveries in May 2024.
CEO and CFO Comments
"We started our journey as a public company on a strong note with an excellent operational and financial performance for the first quarter of 2024," said Mr. Andy An, ZEEKR's chief executive officer. "First quarter deliveries soared to 33,059 vehicles, up
"We delivered robust results across the board for the first quarter of 2024, with total revenues rising by
Financial Results for the First Quarter of 2024
Revenues
- Total revenues were
RMB14,736 .8 million (US ) for the first quarter of 2024, representing an increase of$2,041.0 million 71.0% fromRMB8,620 .4 million for the first quarter of 2023 and a decrease of9.9% fromRMB16,357.9 million for the fourth quarter of 2023. - Revenues from vehicle sales were
RMB8,174.1 million (US ) for the first quarter of 2024, representing an increase of$1,132.1 million 73.0% fromRMB4,725.2 million for the first quarter of 2023, and a decrease of22.8% fromRMB10,592.6 million for the fourth quarter of 2023. The year-over-year increase was due to the increased sales volume of ZEEKR vehicles. The quarter-over-quarter decrease was due to seasonality that impacted our delivery volume, as well as the lower average selling price primarily caused by the change in our product mix. - Revenues from sales of batteries and other components were
RMB6,318.5 million (US ) for the first quarter of 2024, representing an increase of$875.1 million 82.0% fromRMB3,471.5 million for the first quarter of 2023 and an increase of56.5% fromRMB4,038 .1 million for the fourth quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly attributable to the increasing sales volume of battery packs and electric drives, as well as the growth of battery components overseas. - Revenues from research and development service and other services were
RMB244.1 million (US ) for the first quarter of 2024, representing a decrease of$33.8 million 42.4% fromRMB423 .7 million for the first quarter of 2023 and a decrease of85.9% fromRMB1,727 .2 million for the fourth quarter of 2023. The year-over-year and quarter-over-quarter decreases were mainly due to the decreased sales of research and development services and out-licensed technologies to related parties.
Cost of Revenues and Gross Margin
- Cost of revenues was
RMB12,997 .4 million (US ) for the first quarter of 2024, representing an increase of$1,800.1 million 63.7% fromRMB7,937 .9 million for the first quarter of 2023 and a decrease of7.4% fromRMB14,029 .6 million for the fourth quarter of 2023. - Gross profit was
RMB1,739 .4 million (US ) for the first quarter of 2024, representing an increase of$240.9 million 154.9% fromRMB682 .5 million for the first quarter of 2023 and a decrease of25.3% fromRMB2,328 .3 million for the fourth quarter of 2023. - Gross margin was
11.8% for the first quarter of 2024, compared with7.9% for the first quarter of 2023 and14.2% for the fourth quarter of 2023. The year-over-year increase was mainly attributable to the increase in vehicle margin. The quarter-over-quarter decrease was mainly due to the decrease in vehicle margin as well as the increase in the percentage of revenues from sales of batteries and other components, which has a lower gross margin than vehicle sales. - Vehicle margin was
14.0% for the first quarter of 2024, compared with10.1% for the first quarter of 2023 and15.3% for the fourth quarter of 2023. The year-over-year increase was primarily attributed to procurement savings as the cost of auto parts and materials decreased. The quarter-over-quarter decrease was mainly due to the delivery of new vehicle models as well as the change in product mix.
Operating Expenses
- Research and development expenses were
RMB1,925 .3 million (US ) for the first quarter of 2024, representing an increase of$266.6 million 6.7% fromRMB1,805 .1 million for the first quarter of 2023 and a decrease of39.1% fromRMB3,162.5 million for the fourth quarter of 2023. The year-over-year increase was attributable to increased employee compensation as a result of our growing number of staff as well as increased expenses to support our expanding product portfolios and intelligent technologies. The quarter-over-quarter decrease reflected fluctuations due to different design and development stages of new products and technologies. - Selling, general and administrative expenses were
RMB1,951 .5 million (US ) for the first quarter of 2024, representing an increase of$270.3 million 51.9% fromRMB1,284 .4 million for the first quarter of 2023 and a decrease of11.6% fromRMB2,207.9 million for the fourth quarter of 2023. The year-over-year increase was due to increased employee compensation as a result of our growing number of staff as well as increased marketing and promotional activities for ZEEKR vehicles inChina and overseas, and an increase in rental and related expenses due to the expansion of our offline channel. The quarter-over-quarter decrease was mainly due to decreased marketing and promotional activities.
Loss from Operations
- Loss from operations was
RMB2,086 .9 million (US ) for the first quarter of 2024, representing a decrease of$289.0 million 11.2% fromRMB2,349 .2 million for the first quarter of 2023 and a decrease of29.3% from RMB2,950.1 million for the fourth quarter of 2023. - Non-GAAP loss from operations, which excludes share-based compensation expenses, was
RMB2,084.2 million (US ) for the first quarter of 2024, representing a decrease of$288.7 million 10.0% fromRMB2,316.5 million for the first quarter of 2023 and a decrease of28.5% fromRMB2,914.8 million for the fourth quarter of 2023.
Net Loss and Net Loss Per Share
- Net loss was
RMB2,022 .1 million (US ) for the first quarter of 2024, representing a decrease of$280.1 million 18.0% fromRMB2,465 .4 million for the first quarter of 2023 and a decrease of31.2% from RMB2,937.9 million for the fourth quarter of 2023. - Non-GAAP net loss, which excludes share-based compensation expenses, was
RMB2,019.4 million (US ) for the first quarter of 2024, representing a decrease of$279.7 million 17.0% from RMB2,432.6 million for the first quarter of 2023 and a decrease of30.4% from RMB2,902.6 million for the fourth quarter of 2023. - Net loss attributable to ordinary shareholders of ZEEKR was
RMB2,014 .3 million (US ) for the first quarter of 2024, representing a decrease of$279.0 million 15.9% fromRMB2,394 .3 million for the first quarter of 2023 and a decrease of32.6% fromRMB2,986 .9 million for the fourth quarter of 2023. - Non-GAAP net loss attributable to ordinary shareholders of ZEEKR, which excludes share-based compensation expenses, was
RMB2,011 .6 million (US ) for the first quarter of 2024, representing a decrease of$278.6 million 14.8% from RMB2,361.6 million for the first quarter of 2023 and a decrease of31.8% from RMB2,951.6 million for the fourth quarter of 2023. - Basic and diluted net loss per share were both
RMB1.01 (US ) for the first quarter of 2024, compared with$0.14 RMB1.20 for the first quarter of 2023 andRMB1.49 for the fourth quarter of 2023. - Non-GAAP basic and diluted net loss per share were both
RMB1.01 (US ) for the first quarter of 2024, compared with$0.14 RMB1.18 for the first quarter of 2023 andRMB1.48 for the fourth quarter of 2023.
Balance Sheets
Cash and cash equivalents and restricted cash was
Conference Call
The Company's management will host an earnings conference call on Tuesday, June 11, 2024, at 8:00 A.M.
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/10189650/fca07ffcd6
A live webcast of the conference call will be available on the Company's investor relations website at https://ir.zeekrlife.com/.
About ZEEKR
ZEEKR is a fast-growing intelligent BEV technology company. The Company aspires to lead the electrification, intelligentization, and innovation of the automobile industry through the development and sales of next-generation premium BEVs and technology-driven solutions. Incorporated in March 2021, ZEEKR has focused on innovative BEV architecture, hardware, software, and the application of new technologies. Its current product portfolio primarily includes ZEEKR 001, a five-seater, cross-over shooting brake; ZEEKR 001 FR, its latest cross-over shooting brake; ZEEKR 009, a luxury six-seater MPV; ZEEKR 009 Grand, a four-seat deluxe version of ZEEKR 009; ZEEKR X, a compact SUV, and an upscale sedan model.
With a mission to create the ultimate mobility experience through technology and solutions, ZEEKR's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as the creation of a series of customer-oriented products and go-to-market strategies.
For more information, please visit https://ir.zeekrlife.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 loss per weighted average number of ordinary shares, 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
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
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
For Investor Enquiries
ZEEKR
Investor Relations
Email: ir@zeekrlife.com
For Media Enquiries
ZEEKR
Media Relations
Email: Globalcomms@zeekrlife.com
ZEEKR INC. | ||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(Amounts in thousands, except share and per share data and otherwise noted) | ||||||
As of | ||||||
December 31 | March 31 | March 31 | ||||
2023 | 2024 | 2024 | ||||
RMB | RMB | US$ | ||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | 3,260,670 | 2,722,703 | 377,090 | |||
Restricted cash | 844,079 | 1,068,400 | 147,972 | |||
Notes receivable | 487,851 | 768,360 | 106,417 | |||
Accounts receivable | 1,104,450 | 1,240,508 | 171,808 | |||
Inventories | 5,228,689 | 4,927,757 | 682,486 | |||
Amounts due from related parties | 7,256,861 | 7,761,784 | 1,074,995 | |||
Prepayments and other current assets | 2,294,508 | 3,163,007 | 438,071 | |||
Total current assets | 20,477,108 | 21,652,519 | 2,998,839 | |||
Property, plant and equipment, net | 2,914,274 | 3,000,793 | 415,605 | |||
Intangible assets, net | 410,912 | 480,042 | 66,485 | |||
Land use rights, net | 51,755 | 51,461 | 7,127 | |||
Operating lease right-of-use assets | 2,443,545 | 2,369,528 | 328,176 | |||
Deferred tax assets | 86,395 | 109,177 | 15,121 | |||
Long-term investments | 459,794 | 550,674 | 76,267 | |||
Other non-current assets | 273,717 | 315,846 | 43,744 | |||
Total non-current assets | 6,640,392 | 6,877,521 | 952,525 | |||
TOTAL ASSETS | 27,117,500 | 28,530,040 | 3,951,364 |
ZEEKR INC. | ||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) | ||||||
(Amounts in thousands, except share and per share data and otherwise noted) | ||||||
As of | ||||||
December 31 | March 31 | March 31 | ||||
2023 | 2024 | 2024 | ||||
RMB | RMB | US$ | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Accounts payable | 4,104,717 | 4,578,825 | 634,160 | |||
Notes payable | 5,504,945 | 9,785,003 | 1,355,207 | |||
Amounts due to related parties | 16,355,902 | 13,245,235 | 1,834,444 | |||
Income tax payable | 108,083 | 85,691 | 11,868 | |||
Accruals and other current liabilities | 6,243,956 | 8,121,980 | 1,124,881 | |||
Total current liabilities | 32,317,603 | 35,816,734 | 4,960,560 | |||
Operating lease liabilities, non-current | 1,807,159 | 1,826,532 | 252,972 | |||
Amounts due to related parties, non-current | 1,100,000 | 1,100,000 | 152,348 | |||
Other non-current liabilities | 563,001 | 519,365 | 71,931 | |||
Deferred tax liability | 8,337 | 8,150 | 1,129 | |||
Total non-current liabilities | 3,478,497 | 3,454,047 | 478,380 | |||
TOTAL LIABILITIES | 35,796,100 | 39,270,781 | 5,438,940 | |||
SHAREHOLDERS' EQUITY | ||||||
Ordinary shares | 2,584 | 2,584 | 358 | |||
Convertible preferred shares | 362 | 362 | 50 | |||
Additional paid-in capital | 11,213,798 | 11,216,532 | 1,553,472 | |||
Accumulated deficits | (20,865,686) | (22,880,010) | (3,168,846) | |||
Accumulated other comprehensive income/(loss) | 17,555 | (25,214) | (3,492) | |||
Total ZEEKR shareholders' equity (deficit) | (9,631,387) | (11,685,746) | (1,618,458) | |||
Non-controlling interest | 952,787 | 945,005 | 130,882 | |||
TOTAL SHAREHOLDERS' EQUITY (DEFICIT) | (8,678,600) | (10,740,741) | (1,487,576) | |||
TOTAL LIABILITIES AND SHAREHOLDERS' | 27,117,500 | 28,530,040 | 3,951,364 |
ZEEKR INC. | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE | ||||||||
(Amounts in thousands, except share and per share data and otherwise noted) | ||||||||
Three Months Ended | ||||||||
March 31 | December 31 | March 31 | March 31 | |||||
2023 | 2023 | 2024 | 2024 | |||||
RMB | RMB | RMB | US$ | |||||
Revenues: | ||||||||
Vehicle sales | 4,725,196 | 10,592,647 | 8,174,117 | 1,132,102 | ||||
Sales of batteries and other components | 3,471,469 | 4,038,075 | 6,318,535 | 875,107 | ||||
Research and development service and | 423,743 | 1,727,203 | 244,100 | 33,807 | ||||
Total revenues | 8,620,408 | 16,357,925 | 14,736,752 | 2,041,016 | ||||
Cost of revenues: | ||||||||
Vehicle sales | (4,248,677) | (8,974,061) | (7,026,741) | (973,192) | ||||
Sales of batteries and other components | (3,403,866) | (3,746,895) | (5,883,360) | (814,836) | ||||
Research and development service and | (285,395) | (1,308,642) | (87,301) | (12,091) | ||||
Total cost of revenues | (7,937,938) | (14,029,598) | (12,997,402) | (1,800,119) | ||||
Gross profit | 682,470 | 2,328,327 | 1,739,350 | 240,897 | ||||
Operating expenses: | ||||||||
Research and development expenses | (1,805,053) | (3,162,517) | (1,925,278) | (266,648) | ||||
Selling, general and administrative | (1,284,428) | (2,207,938) | (1,951,530) | (270,284) | ||||
Other operating income, net | 57,808 | 92,041 | 50,525 | 6,998 | ||||
Total operating expenses | (3,031,673) | (5,278,414) | (3,826,283) | (529,934) | ||||
Loss from operations | (2,349,203) | (2,950,087) | (2,086,933) | (289,037) | ||||
Interest expense | (104,801) | (35,730) | (10,700) | (1,482) | ||||
Interest income | 22,731 | 25,767 | 20,192 | 2,797 | ||||
Other income/(expense), net | 11,107 | 6,420 | (29,658) | (4,109) | ||||
Loss before income tax expense and | (2,420,166) | (2,953,630) | (2,107,099) | (291,831) | ||||
Share of (loss)/income in equity method | (44,150) | 109,061 | 90,882 | 12,588 | ||||
Income tax expense | (1,046) | (93,350) | (5,889) | (816) | ||||
Net loss | (2,465,362) | (2,937,919) | (2,022,106) | (280,059) | ||||
Less: (loss)/income attributable to non- | (71,029) | 48,969 | (7,782) | (1,078) | ||||
Net loss attributable to shareholders of | (2,394,333) | (2,986,888) | (2,014,324) | (278,981) |
ZEEKR INC. | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE | ||||||||
(Amounts in thousands, except share and per share data and otherwise noted) | ||||||||
Three Months Ended | ||||||||
March 31 | December 31 | March 31 | March 31 | |||||
2023 | 2023 | 2024 | 2024 | |||||
RMB | RMB | RMB | US$ | |||||
Net loss per share: | ||||||||
Basic and diluted | (1.20) | (1.49) | (1.01) | (0.14) | ||||
Weighted average shares used in | ||||||||
Basic and diluted | 2,000,000,000 | 2,000,000,000 | 2,000,000,000 | 2,000,000,000 | ||||
Net loss | (2,465,362) | (2,937,919) | (2,022,106) | (280,059) | ||||
Other comprehensive loss, net of | ||||||||
Foreign currency translation | (1,919) | 38,684 | (42,769) | (5,923) | ||||
Comprehensive loss | (2,467,281) | (2,899,235) | (2,064,875) | (285,982) | ||||
Less: comprehensive (loss)/income | (71,029) | 48,969 | (7,782) | (1,078) | ||||
Comprehensive loss attributable to | (2,396,252) | (2,948,204) | (2,057,093) | (284,904) |
ZEEKR INC. | ||||||||
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS | ||||||||
(Amounts in thousands, except share and per share data and otherwise noted) | ||||||||
Three Months Ended | ||||||||
March 31 | December 31 | March 31 | March 31 | |||||
2023 | 2023 | 2024 | 2024 | |||||
RMB | RMB | RMB | US$ | |||||
Loss from operations | (2,349,203) | (2,950,087) | (2,086,933) | (289,037) | ||||
Share-based compensation expenses | 32,728 | 35,308 | 2,734 | 379 | ||||
Non-GAAP loss from operations | (2,316,475) | (2,914,779) | (2,084,199) | (288,658) | ||||
Net loss | (2,465,362) | (2,937,919) | (2,022,106) | (280,059) | ||||
Share-based compensation expenses | 32,728 | 35,308 | 2,734 | 379 | ||||
Non-GAAP net loss | (2,432,634) | (2,902,611) | (2,019,372) | (279,680) | ||||
Net loss attributable to ordinary | (2,394,333) | (2,986,888) | (2,014,324) | (278,981) | ||||
Share-based compensation expenses | 32,728 | 35,308 | 2,734 | 379 | ||||
Non-GAAP net loss attributable to | (2,361,605) | (2,951,580) | (2,011,590) | (278,602) | ||||
Weighted average number of ordinary | ||||||||
Basic and diluted | 2,000,000,000 | 2,000,000,000 | 2,000,000,000 | 2,000,000,000 | ||||
Non-GAAP net loss per ordinary share | ||||||||
Basic and diluted | (1.18) | (1.48) | (1.01) | (0.14) |
View original content:https://www.prnewswire.com/news-releases/zeekr-reports-first-quarter-2024-unaudited-financial-results-302169254.html
SOURCE ZEEKR Intelligent Technology Holding Limited
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