Core Viewpoint - Geely Automobile is confident in achieving or exceeding its annual sales target, with a strong performance in Q1 2025, showcasing significant revenue and profit growth driven by its transition to new energy vehicles and improved operational efficiency [1][4]. Financial Performance - In Q1 2025, Geely reported total revenue of 72.5 billion yuan, a 25% increase year-on-year, and a net profit attributable to shareholders of 5.67 billion yuan, up 264% [1]. - The gross profit for the quarter reached 11.4 billion yuan, a 26% increase year-on-year, with a gross margin of 15.8%, up 0.2 percentage points from the previous year [1]. Sales and Market Performance - Geely's Q1 sales reached a record high of 703,800 units, a 48% year-on-year increase, achieving 26% of its annual target of 2.71 million units [4]. - The new energy vehicle segment saw a significant boost, with sales from the Zeekr, Lynk & Co, and Galaxy brands totaling 339,000 units, a 135% increase year-on-year [4]. Product Strategy - Geely plans to accelerate its product launch strategy, focusing on both fuel and new energy vehicles, with multiple new models set to be released in 2025 [5]. - The fourth-generation Boyue L SUV has been launched, priced between 92,900 to 119,900 yuan, emphasizing "intelligent equality" in fuel vehicles [5]. Operational Efficiency - Geely has implemented deep internal integration under the "Taizhou Declaration," focusing on strategic alignment and cost reduction, leading to improved operational efficiency [6][9]. - The merger of Zeekr and Lynk & Co has resulted in a significant increase in financial performance, with Zeekr achieving a gross margin of 19.1% in Q1 [6][7]. Strategic Integration - The company is moving towards a "One Geely" strategy to eliminate redundant investments and improve resource allocation, which has positively impacted its stock performance [8][9]. - The integration aims to enhance efficiency across R&D, management, and marketing, targeting a 5% overall efficiency gain and a 15% to 20% improvement in operational metrics [10].

Summary of Zeekr Group's Q1 2025 Conference Call Industry and Company Overview - **Company**: Zeekr Group, a subsidiary of Geely Group, focusing on electric vehicles (EVs) and hybrids - **Industry**: Automotive, specifically the premium electric vehicle segment in China Key Financial Performance - **Deliveries**: Q1 2025 deliveries reached 114,000 vehicles, a 21% year-over-year increase [2][3] - **Revenue**: Total revenue was RMB 22 billion, with vehicle revenue at RMB 19.1 billion [2][3] - **Gross Margin**: Overall gross margin was 16.5%, with Zeekr brand's margin at 21.2% [2][3] - **Expenses**: SG&A expenses decreased significantly, leading to a 60% reduction in net loss year-over-year, reaching RMB 763 million [18][20] Strategic Integration and Growth Initiatives - **Integration with Lynk & Co**: The strategic integration has led to joint R&D, manufacturing upgrades, and improved channel coordination, enhancing profitability through technology sharing and economies of scale [2][3][10] - **Focus Areas**: Key areas for sustained growth include product development, technology enhancement, and channel expansion [4] Product Launches and Innovations - **New Models**: - Launched ZEEKR 007 GT shooting brake coupe with over 10,000 units produced in the first month [2][5] - ZEEKR 009 Grand Collectors Edition targeting high-end buyers [2][5] - Unveiled ZEEKR X9, a super electric hybrid SUV at the Shanghai Auto Show [2][5] - **Upcoming Products**: Plans to launch an EMP mid-to-large sedan in H2 2025, along with two large luxury SUVs (Zeekr Nine X in Q3 and Eight X in Q4) [9][22] Technological Advancements - **Super Electric Hybrid Technology**: Developed over three years, this technology combines the benefits of pure electric and plug-in hybrid systems, addressing range anxiety and enhancing driving experience [6][7][33] - **Charging Technology**: Launched V4 ultra-fast megawatt charger with a peak output of 1.3 megawatts, operational in Hangzhou, with plans for nationwide expansion [14] Market Performance and Customer Engagement - **Lynk & Co 900 Launch**: Secured over 30,000 preorders, with 80% opting for the high-spec model, indicating strong market appeal [8] - **Global Expansion**: Entered over 60 international markets with a retail footprint of over 1,200 stores, including more than 150 overseas locations [16] Management and Organizational Changes - **Internal Reforms**: Implemented management reforms to enhance efficiency and align with global premium market trends [17] - **Marketing Strategy**: Changes in marketing and sales units to penetrate lower-tier markets using an agent model [23] Future Outlook - **Sales Targets**: Annual sales targets set at 320,000 vehicles for Zeekr and 390,000 for Lynk & Co, totaling 710,000 vehicles for 2025 [20] - **Market Feedback**: Positive reception of recent model launches, with expectations of robust sales volumes and improved profit margins in the second half of 2025 [25][26] Additional Insights - **Battery Technology**: Geely's self-developed Golden Battery is now the fastest charging lithium iron phosphate battery globally, enhancing Zeekr's competitive edge [13] - **Intelligent Driving Solutions**: Unified approach across brands with G-Pilot systems offering advanced driving assistance capabilities [11] This summary encapsulates the key points from Zeekr Group's Q1 2025 conference call, highlighting financial performance, strategic initiatives, product innovations, and future growth prospects.

Exhibit 99.1 Zeekr Group Reports First Quarter 2025 Unaudited Financial Results HANGZHOU, China, May 15, 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 first quarter ended March 31, 2025. Operating Highlights for the First Quarter of 2025 · Total vehicle deliveries were 114,011 units for the first quarter of 2025, representing a 21.1% year-over-year ...

Core Viewpoint - Geely Auto is integrating Zeekr into its operations to enhance competitiveness in a challenging market environment, emphasizing the need for rapid problem-solving and resource consolidation [2] Group 1: Integration and Management Changes - Geely Auto's CEO, Gan Jiayue, will lead the newly merged entity, while An Conghui, CEO of Zeekr Technology Group, will take over as CEO of Geely Holding Group [2] - The merger aims to improve overall efficiency by over 5%, with R&D, management, and marketing efficiencies expected to reach 15%-20% [2] Group 2: Financial Performance - Zeekr reported a total revenue of 22 billion yuan in Q1, with a significant reduction in net losses by over 60%, achieving a profit of 510 million yuan under Hong Kong accounting standards [3] - The gross margin for complete vehicles was 16.5%, an increase of 3.4 percentage points year-on-year, while the overall gross margin reached a historic high of 19.1% [3] Group 3: Product Launches and Market Reception - Zeekr's new products, including the Zeekr 007GT, have been well-received, with the model achieving 10,000 deliveries in its first month [4] - The Lynk & Co 900 has also seen strong market interest, with over 30,000 pre-orders as of May 15, and its delivery volume surpassing that of other popular six-seat models [4]

ZEEKR Intelligent Technology (ZK) Q1 2025 Earnings Call May 15, 2025 08:00 AM ET Company Participants Jing Yuan - CFO Conference Call Participants Tina Hou - AnalystTim Hsiao - AnalystMing-Hsun Lee - Analyst Operator Hello, ladies and gentlemen. Thank you for standing by for Zika Group's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in listen only mode. Today's conference call is being recorded. I will now turn the call over to your host, Mr. Jing Huang, the C ...

Financial Data and Key Metrics Changes - Zika Group reported first quarter revenue of RMB22 billion, with vehicle revenue reaching RMB19.1 billion, marking a 21% year-over-year increase in vehicle deliveries to 114,000 units [8][9][25] - The overall vehicle gross margin rose to 16.5%, with the Zika brand's margin increasing to 21.2% [9][25] - Net loss narrowed by 60% year-over-year to RMB763 million for the first quarter of 2025, indicating significant progress towards sustainable profitability [27] Business Line Data and Key Metrics Changes - The Zika brand's vehicle deliveries increased by 21% year-over-year, while the Lincoln Co brand also contributed to overall growth [8][25] - The Zika 9X and Zika 8X are expected to have impressive margin performance, with both models positioned in the luxury segment and equipped with super electric hybrid technology [42][44] Market Data and Key Metrics Changes - Zika Group's global user base surpassed 1,900,000, with a target of reaching 2,000,000 users [7] - The company has entered over 60 major international markets, with a global retail footprint of over 1,200 stores [21] Company Strategy and Development Direction - The company aims to redefine luxury through exceptional service and cutting-edge technologies, focusing on innovation and expanding its presence in the global premium market [7][22] - Strategic integration of Zika and Lincoln Co brands has led to joint product R&D and enhanced user engagement, driving profitability improvements [8][9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that sales performance in April was not satisfactory but aligned with expectations, maintaining a sales target of 710,000 vehicles for 2025 [31] - The launch of new models such as the Zika 9X and Lincoln Co 900 is expected to positively impact sales performance in the coming months [32][40] Other Important Information - The company is implementing internal management reforms to enhance efficiency and align with trends in the new energy era [22] - A special committee has been established to evaluate a privatization offer, and the company will not comment on this matter during the call [27][35] Q&A Session Summary Question: Sales volume expectations for the first four months and updated targets for 2025 - Management confirmed that April's sales performance was in line with expectations, maintaining a target of 320,000 vehicles for Zika and 390,000 for Lincoln Co, totaling 710,000 vehicles for the year [31][32] Question: Comments on JD Auto's provisional offering - Management refrained from commenting on the privatization offer, emphasizing compliance with disclosure regulations and the establishment of a special committee for evaluation [34][35] Question: Volume contribution and margin expectations for the Zika 9X and 8X - Management expressed confidence in the Zika 9X and 8X, highlighting their unique positioning and expected strong market performance [42][44] Question: Advantages of the super hybrid technology and expected sales volume - Management detailed the benefits of the super hybrid technology, including performance, fuel efficiency, and lower maintenance costs, with a target of contributing 150,000 to 200,000 vehicles annually [50]

Group 1 - The core viewpoint of the article emphasizes the necessity for Geely to consolidate and enhance its competitiveness in the fiercely competitive Chinese automotive market, as stated by CEO Gui Shengyue [1][2] - Geely plans to acquire all issued shares of Zeekr Intelligent Technology Co., Ltd., which will lead to a complete merger and privatization of Zeekr, resulting in its delisting from the New York Stock Exchange [1] - The strategic transformation initiated by Geely's chairman Li Shufu includes five major initiatives aimed at focusing, integrating, collaborating, stabilizing, and nurturing talent, which has led to multiple integration actions within the company [1] Group 2 - Gui Shengyue highlighted two major issues arising from the integration process: the cumbersome approval processes due to both companies being independent public entities, and differing employee incentive mechanisms that could hinder effective collaboration [2] - Following the merger, Geely and Zeekr will maintain separate branding and marketing strategies while maximizing synergies in back-end operations [2][3] - The new organizational structure post-merger will include Geely Galaxy Division, Geely Galaxy Group, and Zeekr Technology Group, with key leadership roles defined for effective management [3] Group 3 - The merger aims to achieve significant efficiency improvements, with targets set for production cost reduction exceeding 3%, R&D efficiency gains of 10% to 20%, and management efficiency improvements of 10% to 20% [3] - The combined entity aims for an overall efficiency improvement exceeding 5%, with specific goals for R&D, management, and marketing cost efficiencies set at 15% to 20% [4] - The merger will result in Geely's portfolio comprising four major brands: Zeekr, Lynk & Co, Geely Galaxy, and China Star, each targeting different market segments while seeking collaborative growth [4]

Financial Performance - In Q1 2025, Geely Automobile achieved revenue of 72.495 billion yuan, a 25% increase from 58.225 billion yuan in the same period last year [2][3] - The net profit attributable to shareholders reached 5.672 billion yuan, up 264% from 1.565 billion yuan year-on-year [2][3] - Total sales volume reached 703,800 units, a 48% increase from 475,700 units in the previous year, marking a historical high for the company [3][4] Brand Performance - The Galaxy brand sold nearly 260,000 units in Q1, a 214% increase, with the Star Wish model achieving over 35,000 monthly sales for two consecutive months [4] - The China Star brand sold 330,000 units, a 10% increase, while Lynk & Co sold 73,000 units, up 19%, with 38,000 of those being electric vehicles [4] - Zeekr delivered 41,000 units, a 25% increase year-on-year [4] Strategic Developments - Geely plans to privatize Zeekr, acquiring all issued shares, which would make Zeekr a wholly-owned subsidiary and lead to its delisting from the NYSE [8] - Following the merger of Zeekr and Lynk & Co, management changes were announced, with Li Donghui becoming Vice Chairman and An Conghui as CEO of Geely Holding Group [8][7] - Zeekr reported a total revenue of 22.019 billion yuan in Q1, with vehicle revenue of 19.096 billion yuan, a 16.1% increase year-on-year [7]

Core Viewpoint - Geely Auto is pursuing a privatization merger with Zeekr Auto to consolidate its brand and resources in response to intense market competition and a complex environment [2][3] Group 1: Merger Rationale - The merger aims to address the fragmented brand structure of Geely Auto, allowing the company to consolidate resources into a more competitive entity [2] - Geely's management, including Chairman Li Shufu, recognizes the necessity of this merger for long-term success, which is also understood by shareholders [2] Group 2: Integration Challenges - The integration of Geely Auto and Zeekr Auto has faced complexities, including low efficiency and high communication costs due to both being publicly listed companies [3] - There are inconsistencies in employee incentive mechanisms between the two companies, which hampers the overall effectiveness of the integration efforts [3] - To resolve these issues fundamentally, a complete merger is deemed essential to create a unified Geely [3]

凤凰网科技讯（作者/于雷）5月15日，极氪科技（纽交所代码：ZK）今日发布2025年第一季度未经审 计财务业绩，这也是极氪、领克合并后的首份财报。财报显示，极氪集团一季度总营收为220.19亿元人 民币（约30.34亿美元），同比微增1.1%，环比下滑37.8%。 从交付量来看，极氪集团一季度共交付114,011辆汽车，同比增长21.1%。其中极氪品牌交付41,403辆， 同比增长25.2%；领克品牌交付72,608辆，同比增长18.9%，且新能源车型占比达到52.4%。不过，与 2024年第四季度相比，总交付量出现明显下滑。 值得关注的是，极氪集团一季度整体毛利率达到了19.1%，较去年同期的16.3%提升了2.8个百分点，环 比第四季度也有1.1个百分点的提升。车辆销售毛利率为16.5%，同比上升3.4个百分点，环比上升2.2个 百分点。其中极氪品牌车型毛利率高达21.2%，创下新高。 财务数据方面，极氪集团一季度净亏损为7.63亿元人民币（约1.05亿美元），较去年同期的19.15亿元大 幅减少60.2%，但较上一季度增加21.3%。不计股权激励费用的非通用会计准则下，调整后净亏损为6.40 亿元人民币 ...