Financial Data and Key Metrics Changes - Zeka Group achieved total revenue of RMB 75.9 billion in 2024, representing a 46.9% year-over-year increase [20] - Vehicle revenue grew by 63% year-over-year, totaling RMB 55.5 billion [20] - The vehicle gross margin for the fourth quarter reached 17.3%, while the full-year vehicle margin was 15.6% [20][22] - The net loss decreased from RMB 82.6 billion in 2023 to RMB 57.9 billion in 2024, marking a 30% year-over-year decline [22] - Free cash flow for 2024 reached RMB 1.5 billion, setting a record high [23] Business Line Data and Key Metrics Changes - The Link and Co brand delivered 280,000 units in 2024, a nearly 30% year-over-year increase [5] - Zika brand deliveries surpassed 222,000 vehicles, an 87% year-over-year increase, making it the best-selling premium battery electric vehicle brand in China [5] - The average selling price for the Zika brand is close to RMB 300,000, while Lincoln Co's average selling price reached over RMB 200,000 [8][9] Market Data and Key Metrics Changes - The new energy vehicles segment for Lincoln Co showed rapid growth with over 58% penetration rate [9] - The Zika brand's Zika 9 emerged as the best-selling NPV in China priced above RMB 400,000 in 2024 [8] Company Strategy and Development Direction - Zeka Group aims to become the world's leading premium new energy vehicle group with annual sales of 1,000,000 units within two years [7] - The company plans to launch three new models for the Zika brand in 2025 and two new models for Lincoln Co [10][11] - Zeka Group is focusing on leveraging full-stack AI capabilities to enhance competitive edge and operational efficiency [11][12] - The company is targeting a 40% delivery growth to 710,000 vehicles across both brands in 2025 [23] Management's Comments on Operating Environment and Future Outlook - Management acknowledges intense competition in the Chinese new energy vehicle market and globally, but remains confident in achieving sales targets [34][45] - The integration of Lincoln Co and Zika is expected to lead to improved profitability and operational efficiencies [27][34] - Management is optimistic about the upcoming product launches and their potential to drive sales growth [46][50] Other Important Information - R&D expenses for 2024 reached RMB 9.7 billion, a 16.1% year-over-year increase, with a decrease in the R&D expense ratio from 16.2% in 2023 to 12.8% in 2024 [21] - The company plans to establish a unified sales company to enhance international market presence [14] Q&A Session Summary Question: What are the conditions for breakeven in 2025? - Management highlighted the importance of controlling integration efforts and improving operational efficiencies, aiming for a lower R&D expense ratio and SG&A ratio [31][33] Question: What is the outlook for 2026 regarding product pipeline and competition? - Management aims to create a luxury brand group selling over 1,000,000 cars globally, with increased capital expenditure planned for 2025 and 2026 [36][37] Question: How will the company ensure new models stand out in a crowded market? - The company plans to launch new models with advanced technologies and competitive pricing, ensuring they are well-received by customers [50][51] Question: What is the progress on autonomous driving technology integration? - The integration of ADAS solutions between Zika and Lincoln Co brands is underway, with plans to share technology and improve efficiencies [57][59] Question: What is the strategy for the powertrain technology across brands? - Currently, Zika will use super electric hybrid technology, while Lincoln Co will continue with its E and P platform, with limited investment in ICE vehicles [60][62]

Core Viewpoint - Zeekr Group has completed strategic integration transactions with Geely Group, acquiring a majority stake in LYNK & CO, which positions the company for enhanced growth in the premium new energy vehicle market [1]. Group 1: Strategic Transactions - Zeekr Group acquired a 30% equity interest in LYNK & CO from Volvo Car (China) for RMB5.4 billion (US$740 million) and a 20% interest from Geely Holding for RMB3.6 billion (US$493 million) [1]. - Following these transactions, LYNK & CO is now owned 51% by Zeekr and 49% by Ningbo Geely [1]. - The transactions were completed on February 14, 2025, and were previously announced in a Form 6-K filed with the SEC on November 14, 2024 [1]. Group 2: Financial Information - The unaudited pro forma condensed combined financial information includes balance sheet data as of December 31 for 2023 and 2024, and income statement data for the two years ended December 31, 2024 [3]. - Total revenues for the year ended December 31, 2024, were RMB113.892 billion (US$15.603 billion), an increase from RMB81.741 billion in 2023 [9]. - The net loss for the year ended December 31, 2024, was RMB7.121 billion (US$976 million), improved from a net loss of RMB10.149 billion in 2023 [9]. Group 3: Asset and Liability Overview - As of December 31, 2024, total assets were RMB69.213 billion (US$9.482 billion), up from RMB62.968 billion in 2023 [10]. - Total liabilities increased to RMB83.438 billion (US$11.431 billion) as of December 31, 2024, compared to RMB74.605 billion in 2023 [11]. - Total non-current assets decreased to RMB17.357 billion (US$2.378 billion) in 2024 from RMB21.287 billion in 2023 [10].

Core Viewpoint - Zeekr Group has filed its 2024 annual report with the SEC, highlighting its position as a leading premium new energy vehicle group and its commitment to innovation and sustainability [1]. Group 1: Company Overview - Zeekr Group is headquartered in Zhejiang, China, and is part of Geely Holding Group, focusing on premium new energy vehicles [3]. - The company operates two brands, Lynk & Co and Zeekr, aiming to create a fully integrated user ecosystem [3]. - Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain, emphasizing equality, diversity, and sustainability [3]. Group 2: Financial Reporting - The company filed its 2024 annual report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC on March 20, 2025 [1]. - Shareholders can request a hard copy of the annual report containing audited consolidated financial statements free of charge [2].

Cash and Cash Equivalents - As of December 31, 2024, the company had cash and cash equivalents and restricted cash of RMB8,961.7 million (US$1,227.7 million), an increase from RMB4,104.7 million in 2023[574]. - Cash, cash equivalents, and restricted cash denominated in RMB amounted to RMB3,593.8 million and RMB7,354.3 million as of December 31, 2023 and 2024, respectively[770]. - As of December 31, 2023, the company has cash and cash equivalents in EUR amounting to €16,609,000, which is projected to increase to €35,000,000 by 2024[771]. - The company's SEK cash holdings are expected to grow from SEK 95,676,000 in 2023 to SEK 382,492,000 in 2024, indicating a significant increase[771]. - US$ cash and cash equivalents are forecasted to rise from $44,050,000 in 2023 to $131,148,000 in 2024, reflecting strong growth potential[771]. - The company plans to introduce THB cash holdings of THB 422,844,000 in 2024, which were not present in 2023[771]. - AUD cash equivalents are expected to reach AUD 8,722,000 in 2024, marking the first appearance of this currency in the company's cash holdings[771]. Operating Activities - Net cash provided by operating activities was RMB3,199.3 million (US$438.3 million) in 2024, despite a net loss of RMB5,790.6 million (US$793.3 million)[581]. - The company experienced a net loss of RMB8,264.2 million in 2023, with net cash provided by operating activities amounting to RMB2,275.3 million[582]. - The company’s cash flow from operating activities in 2023 was positively affected by an increase in amounts due to related parties of RMB8,482.8 million[582]. - The company’s net cash used in operating activities was RMB3,523.6 million in 2022, with a net loss of RMB7,655.1 million[583]. Investing Activities - The company reported a net cash used in investing activities of RMB923.9 million (US$126.6 million) in 2024, primarily for property, plant, and equipment purchases totaling RMB1,273.3 million (US$174.4 million)[585]. - The company’s net cash used in investing activities in 2023 was RMB1,958.8 million, primarily for property, plant, and equipment purchases of RMB1,568.7 million[586]. - Capital expenditures for 2023 amounted to RMB1,913.4 million, with expectations to increase to RMB1,715.4 million in 2024, primarily for property, plant, and equipment[591]. - The company expects to make capital expenditures primarily on properties and manufacturing facilities related to Ningbo Viridi and leasehold improvements for retail stores[591]. Financing Activities - In 2024, net cash used in financing activities was RMB2,623.1 million (US$359.4 million), which included proceeds from an initial public offering of RMB3,465.3 million (US$474.8 million)[588]. - Net cash used in financing activities in 2023 was RMB2.7 million, primarily due to repayment of related party loans of RMB5,375.7 million, offset by proceeds from issuance of preferred shares of RMB5,373.0 million[589]. - The company had obtained term loan credit facilities totaling RMB27.6 billion from 18 commercial banks as of December 31, 2024, with RMB14.6 billion remaining unused[575]. Liabilities and Commitments - Total capital commitments as of December 31, 2024, were RMB125.4 million, with RMB36.5 million due within one year and RMB88.9 million due in 1-3 years[592]. - Operating lease obligations totaled RMB2,385.9 million, with RMB751.9 million due within one year[594]. - Estimated warranty provision for the year ended December 31, 2024, amounted to RMB501.9 million, with a recorded warranty liability of RMB723.9 million[612]. Other Financial Information - The notional amount under foreign currency forward contracts was EUR53.0 million as of December 31, 2024[596]. - The company has not entered into any off-balance sheet financial guarantees or derivative contracts that are not reflected in its financial statements[596]. Future Plans - The company plans to integrate NVIDIA DRIVE Thor, a 2,000 TOPS AV superchip, into its next generation intelligent BEV[597].

Vehicle Deliveries and Sales - Total vehicle deliveries reached 79,250 units in Q4 2024, a 99.8% year-over-year increase, and 222,123 units for the full year, representing an 87.2% increase[5] - Vehicle sales for Q4 2024 were RMB 19,301.6 million (US$ 2,644.3 million), an 82.2% increase from Q4 2023, and total revenues were RMB 22,777.8 million (US$ 3,120.6 million), up 39.2% year-over-year[6][20] - For the full year 2024, vehicle sales totaled RMB 55,315.3 million (US$ 7,578.2 million), a 63.1% increase from 2023, with total revenues of RMB 75,912.7 million (US$ 10,400.0 million), up 46.9%[12] Financial Performance - Gross profit for Q4 2024 was RMB 4,316.5 million (US$ 591.4 million), reflecting an 85.4% increase from Q4 2023, with a gross margin of 19.0%[6][20] - The net loss for Q4 2024 was RMB 820.6 million (US$ 112.4 million), a 72.1% decrease from the same quarter last year[7] - Gross profit for the full year 2024 was RMB 12,447.5 million (US$ 1,705.3 million), an increase of 81.7% from the prior year[32] - Net loss attributable to ordinary shareholders for the full year 2024 was RMB 6,423.6 million (US$ 880.0 million), a decrease of 23.0% from the prior year[34] - Non-GAAP net loss attributable to ordinary shareholders for Q4 2024 was RMB 909.4 million (US$ 124.6 million), a decrease of 69.2% from Q4 2023[28] Expenses - Research and development expenses for Q4 2024 were RMB 3,205.3 million (US$ 439.1 million), up 1.4% year-over-year and 63.0% quarter-over-quarter[25] - Selling, general and administrative expenses for Q4 2024 were RMB 2,816.5 million (US$ 385.9 million), an increase of 27.6% year-over-year and 23.8% quarter-over-quarter[25] - Research and development expenses for the year were RMB 8,369,207, highlighting the company's commitment to innovation and product development[54] Strategic Developments - The company completed the strategic integration of Zeekr and Lynk & Co, enhancing its market position and operational synergies[15] - The Zeekr 007GT, a new model, is set to launch in Q2 2025, expanding the product lineup[16] - The company aims to leverage AI-driven innovation and accelerate global expansion in 2025 to enhance competitiveness and shareholder returns[17] - The company plans to expand its market presence and enhance its product offerings, focusing on new technologies and strategic partnerships[50] Cash and Assets - Cash and cash equivalents and restricted cash as of December 31, 2024, were RMB 8,961.7 million (US$ 1,227.7 million)[26] - As of December 31, 2023, total assets were RMB 27,117,500, with current assets amounting to RMB 20,477,108, showing a healthy liquidity position[48] - Total liabilities increased to RMB 35,796,100, with current liabilities at RMB 32,317,603, indicating a leverage ratio that requires monitoring[49] Shareholder Information - Basic and diluted net loss per share attributed to ordinary shareholders for the full year 2024 was RMB 2.73 (US$ 0.37), compared to RMB 4.17 for the prior year[34] - The weighted average shares used in calculating net loss per share were 2,000,000,000 for the year, indicating a significant increase in share count due to capital raises[52] - The weighted average number of ordinary shares used in calculating Non-GAAP net loss per share for 2024 was 2,353,015,830, compared to 2,000,000,000 in 2023[58] Losses and Improvements - For the year ended December 31, 2024, Zeekr reported a net loss of RMB 5,790,649 thousand (approximately US$ 793,315 thousand), a decrease from the previous year's loss of RMB 8,264,191 thousand[55] - The comprehensive loss attributable to shareholders of Zeekr for the year ended December 31, 2024, was RMB 6,464,044 thousand (approximately US$ 885,570 thousand), compared to RMB 8,297,215 thousand in 2023[55] - Non-GAAP net loss for the year ended December 31, 2024, was RMB 4,714,065 thousand (approximately US$ 645,824 thousand), significantly improved from RMB 8,128,542 thousand in 2023[58] - The loss from operations for the year ended December 31, 2024, was RMB 6,460,423 thousand (approximately US$ 885,074 thousand), down from RMB 8,178,050 thousand in 2023[58] - The basic and diluted Non-GAAP net loss per ordinary share attributed to ordinary shareholders for 2024 was RMB (2.27) (approximately US$ (0.31)), an improvement from RMB (4.11) in 2023[58]

Core Insights - Zeekr Group reported significant growth in vehicle deliveries and financial performance for the fourth quarter and full year of 2024, achieving record delivery volumes and revenue increases compared to previous periods [1][5][6]. Financial Performance - Total vehicle deliveries for FY2024 reached 222,123 units, marking an 87.2% year-over-year increase, while Q4 2024 deliveries were 79,250 units, a 99.8% increase from Q4 2023 [2][5]. - Vehicle sales for Q4 2024 amounted to RMB19,301.6 million (US$2,644.3 million), an 82.2% increase from Q4 2023, and total revenues for the quarter were RMB22,777.8 million (US$3,120.6 million), up 39.2% year-over-year [6][20]. - Gross profit for Q4 2024 was RMB4,316.5 million (US$591.4 million), representing an 85.4% increase from the same quarter in 2023, with a gross margin of 19.0% [6][20]. - For the full year 2024, vehicle sales totaled RMB55,315.3 million (US$7,578.2 million), a 63.1% increase from 2023, with total revenues of RMB75,912.7 million (US$10,400.0 million), up 46.9% year-over-year [10][31]. Operational Highlights - The vehicle margin for Q4 2024 was 17.3%, an increase from 15.3% in Q4 2023, attributed to cost reduction initiatives [6][20]. - The company reported a net loss of RMB820.6 million (US$112.4 million) for Q4 2024, a decrease of 72.1% from Q4 2023, and a full-year net loss of RMB5,790.6 million (US$793.3 million), down 29.9% from the previous year [6][10][31]. Recent Developments - In January 2025, Zeekr delivered 11,942 vehicles, and in February 2025, total deliveries reached 31,277 vehicles, including those from the Lynk & Co brand following its acquisition [12]. - The company showcased its innovations in intelligent mobility at CES 2025, emphasizing advancements in smart cockpit technology and autonomous driving [13]. - The strategic integration with Lynk & Co was completed in February 2025, enhancing Zeekr's market position [14]. Product Development - The Zeekr brand introduced the Zeekr 007GT in January 2025, an enhanced model set to launch in Q2 2025 [15]. Management Commentary - The CEO highlighted the record delivery volume and the successful integration with Lynk & Co, expressing confidence in the company's growth strategy and commitment to leading the premium new energy market [16]. - The CFO noted strong revenue growth driven by vehicle deliveries and improved profitability through cost discipline and technology-driven initiatives [16].

Core Viewpoint - Zeekr Group reported strong delivery results for February 2025, highlighting significant year-over-year growth in vehicle deliveries across its brands [2]. Delivery Results - In February 2025, Zeekr Group achieved a total of 31,277 vehicle deliveries across its two brands [2]. - The Zeekr brand delivered 14,039 vehicles, reflecting an 86.9% year-over-year increase and a 17.6% growth compared to January 2025 [2]. - Following the acquisition of Lynk & Co, the company delivered 17,238 Lynk & Co vehicles, marking a 30.5% year-over-year growth compared to prior deliveries, with 47.9% of these being NEV models [2]. Company Overview - Zeekr Group, headquartered in Zhejiang, China, is a leading premium new energy vehicle group under Geely Holding Group [3]. - The company operates two brands, Lynk & Co and Zeekr, and aims to create a fully integrated user ecosystem with a focus on innovation [3]. - Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain, emphasizing values of equality, diversity, and sustainability [3].

Core Insights - ZEEKR and AW Rostamani Group collaborated to host the AUS Alumni Reunion, emphasizing sustainability, innovation, and community engagement [1][2][4] - The event featured the 'Best Sustainable Idea of the Year' competition, promoting innovative business models for a sustainable future, with Sara Llalla winning a ZEEKR X electric SUV [2][5] - ZEEKR was recognized as a Smart Mobility Partner by AUS, highlighting its commitment to sustainability and innovation in the automotive sector [4][6] Company Overview - ZEEKR, a premium electric mobility brand under Geely Holding Group, aims to create an integrated user ecosystem focused on innovation and sustainability [8][9] - Since its launch in October 2021, ZEEKR has delivered over 300,000 vehicles, including models like the Zeekr 001 and Zeekr X, and plans to expand into European and Latin American markets [10] - AW Rostamani Group, a multi-sector company with over 3,000 employees, serves a diverse customer base and focuses on sustainable business practices across various industries [12][13] Strategic Alignment - The initiatives by ZEEKR and AW Rostamani Group align with the UAE's Vision 2031, which emphasizes sustainability and technological innovation [3][6] - Both companies aim to inspire communities to adopt sustainable lifestyles through innovative mobility solutions and collaborations with educational institutions [5][6]

Core Viewpoint - Zeekr Group, a leading premium new energy vehicle manufacturer, will announce its unaudited financial results for Q4 and full year 2024 on March 20, 2025, before U.S. markets open [1]. Financial Results Announcement - The financial results will be reported before the U.S. markets open on March 20, 2025 [1]. - An earnings conference call is scheduled for the same day at 8:00 A.M. U.S. Eastern Time [2]. Conference Call Details - Participants must complete online registration to join the call, receiving dial-in numbers, a passcode, and a unique access PIN via email [3]. - A live webcast of the conference call will be available on the company's investor relations website [3]. Company Overview - Zeekr Group, headquartered in Zhejiang, China, is part of Geely Holding Group and focuses on premium new energy vehicles [4]. - The company operates two brands, Lynk & Co and Zeekr, and aims to create a fully integrated user ecosystem [4]. - Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain, emphasizing values of equality, diversity, and sustainability [4].

Core Insights - Zeekr Group has successfully completed the Strategic Integration Transactions with Geely entities, making Lynk & Co an indirect non-wholly-owned subsidiary of the Company [1] Company Overview - Zeekr Group, headquartered in Zhejiang, China, is recognized as a leading premium new energy vehicle group under Geely Holding Group, operating two brands: Lynk & Co and Zeekr [3] - The Company aims to establish a fully integrated user ecosystem, emphasizing innovation, and is developing proprietary software systems, e-powertrains, and an electric vehicle supply chain [3] - Zeekr Group's core values include equality, diversity, and sustainability, with the ambition to become a global provider of new energy mobility solutions [3]