HANGZHOU, China, July 1, 2024 /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("ZEEKR" or the "Company") (NYSE: ZK), a fast-growing intelligent battery electric vehicle ("BEV") technology company, today announced its delivery results for June 2024. In June 2024, ZEEKR entered into cooperation agreements with PT Premium Auto Prima in Indonesia and Sentinel Automotive Sdn. Bhd. in Malaysia, respectively, officially announcing its expansion into the Indonesian and Malaysian markets. ZEEKR is curre ...

[ZEEKR Reports First Quarter 2024 Unaudited Financial Results](index=1&type=section&id=ZEEKR%20Reports%20First%20Quarter%202024%20Unaudited%20Financial%20Results) [Financial Highlights](index=1&type=section&id=Financial%20Highlights%20for%20the%20First%20Quarter%20of%202024) ZEEKR's Q1 2024 total revenue reached RMB 14.74 billion with 71.0% YoY growth, while gross profit increased 154.9% to RMB 1.74 billion, and net loss significantly narrowed Key Financial Indicators for Q1 2024 | Indicator (RMB million) | 2024 Q1 | 2023 Q1 | YoY Change | 2023 Q4 | QoQ Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | 14,736.8 | 8,620.4 | +71.0% | 16,357.9 | -9.9% | | **Gross Profit** | 1,739.4 | 682.5 | +154.9% | 2,328.3 | -25.3% | | **Gross Margin** | 11.8% | 7.9% | +3.9pp | 14.2% | -2.4pp | | **Operating Loss** | (2,086.9) | (2,349.2) | -11.2% | (2,950.1) | -29.3% | | **Net Loss** | (2,022.1) | (2,465.4) | -18.0% | (2,937.9) | -31.2% | | **Adjusted Net Loss (Non-GAAP)** | (2,019.4) | (2,432.6) | -17.0% | (2,902.6) | -30.4% | [Operating Highlights](index=1&type=section&id=Operating%20Highlights%20for%20the%20First%20Quarter%20of%202024) In Q1 2024, ZEEKR achieved a record 33,059 vehicle deliveries, a 117% YoY increase, with strong growth continuing into Q2, supported by new model launches like the 2024 ZEEKR 001 and ZEEKR 009 Grand - Total deliveries in Q1 reached **33,059 units**, a **117% YoY increase**[1](index=1&type=chunk) - Growth momentum continued into Q2, with **16,089 deliveries in April** (**99% YoY growth**) and **18,616 deliveries in May** (**115% YoY growth**)[34](index=34&type=chunk)[10](index=10&type=chunk) - The company continued to launch new models, including the new **ZEEKR 001** in February 2024 and the **ZEEKR 009 Grand** in April[11](index=11&type=chunk)[35](index=35&type=chunk) [Management Comments](index=3&type=section&id=CEO%20and%20CFO%20Comments) Management expressed satisfaction with the quarter's performance, with the CEO highlighting record deliveries as a foundation for the 230,000-unit annual target and market leadership, while the CFO noted improved vehicle gross margin due to cost control and a strengthened balance sheet from the May IPO - The CEO stated that record **33,059 deliveries** in Q1 provided a strong start towards the **230,000-unit annual target** and solidified the company's leading position in China's premium pure electric vehicle market above RMB 200,000[13](index=13&type=chunk) - The CFO highlighted **71.0% YoY growth in total revenue** and **154.9% YoY growth in gross profit**, with vehicle gross margin improving by **3.9 percentage points YoY** due to effective procurement cost control[37](index=37&type=chunk) [Financial Performance Analysis](index=3&type=section&id=Financial%20Results%20for%20the%20First%20Quarter%20of%202024) [Revenue Analysis](index=3&type=section&id=Revenues) Total revenue in Q1 2024 was RMB 14.74 billion, up 71.0% YoY, primarily driven by a 73.0% increase in vehicle sales revenue and an 82.0% increase in battery and other components sales, while R&D and other services revenue decreased due to reduced related-party services [Vehicle Sales Revenue](index=3&type=section&id=Vehicle%20sales) Q1 vehicle sales revenue reached RMB 8.17 billion, up 73.0% YoY due to increased ZEEKR vehicle sales, but declined 22.8% QoQ due to seasonal delivery impacts and product mix shifts affecting average selling price Vehicle Sales Revenue (RMB million) | Period | Amount | | :--- | :--- | | 2024 Q1 | 8,174.1 | | 2023 Q1 | 4,725.2 | | 2023 Q4 | 10,592.6 | [Sales of Batteries and Other Components](index=3&type=section&id=Sales%20of%20batteries%20and%20other%20components) Q1 sales of batteries and other components reached RMB 6.32 billion, increasing 82.0% YoY and 56.5% QoQ, driven by higher sales of battery packs, electric drive systems, and growth in overseas battery component business - This segment's revenue increased by **82.0% YoY** and **56.5% QoQ**, primarily due to increased sales of battery packs, electric drives, and growth in overseas business[15](index=15&type=chunk) [Research and Development and Other Services Revenue](index=3&type=section&id=Research%20and%20development%20service%20and%20other%20services) Q1 R&D and other services revenue was RMB 244 million, decreasing 42.4% YoY and 85.9% QoQ, mainly due to reduced sales of R&D services and technology licensing to related parties - This segment's revenue decreased by **42.4% YoY** and **85.9% QoQ**, primarily due to reduced services to related parties[38](index=38&type=chunk)[16](index=16&type=chunk) [Cost of Revenues and Gross Margin Analysis](index=4&type=section&id=Cost%20of%20Revenues%20and%20Gross%20Margin) Q1 gross profit was RMB 1.74 billion, up 154.9% YoY, with overall gross margin improving significantly to 11.8% from 7.9% last year, primarily driven by a 3.9 percentage point YoY increase in vehicle gross margin to 14.0% due to lower component procurement costs, while QoQ decline was impacted by new model deliveries and product mix changes Gross Profit and Gross Margin | Indicator | 2024 Q1 | 2023 Q1 | 2023 Q4 | | :--- | :--- | :--- | :--- | | **Gross Profit (RMB million)** | 1,739.4 | 682.5 | 2,328.3 | | **Gross Margin** | 11.8% | 7.9% | 14.2% | | **Vehicle Gross Margin** | 14.0% | 10.1% | 15.3% | - The primary reason for the YoY increase in vehicle gross margin was procurement savings from lower automotive component and material costs[40](index=40&type=chunk) [Operating Expenses Analysis](index=4&type=section&id=Operating%20Expenses) In Q1 2024, total operating expenses were RMB 3.83 billion, with selling, general, and administrative expenses at RMB 1.95 billion (up 51.9% YoY) for staff growth, marketing, and channel expansion, and R&D expenses at RMB 1.93 billion (up 6.7% YoY) for product portfolio and intelligent technology expansion [Selling, General and Administrative Expenses](index=4&type=section&id=Selling%2C%20general%20and%20administrative%20expenses) Q1 selling, general, and administrative expenses were RMB 1.95 billion, up 51.9% YoY, primarily driven by increased staff compensation, marketing activities for domestic and international vehicle sales, and higher rent and related costs from offline channel expansion - Expenses increased by **51.9%** to **RMB 1.95 billion**, primarily driven by staff compensation, marketing activities, and offline channel expansion[20](index=20&type=chunk) [Research and Development Expenses](index=4&type=section&id=Research%20and%20development%20expenses) Q1 R&D expenses were RMB 1.93 billion, up 6.7% YoY, mainly due to increased staff compensation from a growing R&D workforce and higher costs to support an expanding product portfolio and intelligent technologies - Expenses increased by **6.7%** to **RMB 1.93 billion**, primarily supporting staff growth, product portfolio expansion, and technology development[41](index=41&type=chunk) [Operating Loss and Net Loss](index=5&type=section&id=Net%20Loss%20and%20Net%20Loss%20Per%20Share) In Q1 2024, the company's loss continued to improve, with operating loss narrowing 11.2% to RMB 2.09 billion, net loss narrowing 18.0% to RMB 2.02 billion, and adjusted non-GAAP net loss narrowing 17.0% to RMB 2.02 billion, resulting in basic and diluted net loss per share of RMB 1.01 Loss Performance (RMB million) | Indicator | 2024 Q1 | 2023 Q1 | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Loss** | (2,086.9) | (2,349.2) | -11.2% | | **Net Loss** | (2,022.1) | (2,465.4) | -18.0% | | **Adjusted Net Loss (Non-GAAP)** | (2,019.4) | (2,432.6) | -17.0% | - Basic and diluted net loss per share in Q1 was **RMB 1.01** (**US$0.14**), compared to RMB 1.20 in the prior year period and RMB 1.49 in the previous quarter[45](index=45&type=chunk)[23](index=23&type=chunk) [Balance Sheet Summary](index=5&type=section&id=Balance%20Sheets) As of March 31, 2024, the company held RMB 3.79 billion in cash, cash equivalents, and restricted cash, with total assets of RMB 28.53 billion and total liabilities of RMB 39.27 billion - As of March 31, 2024, the company held **RMB 3.79 billion** (**US$525.1 million**) in cash, cash equivalents, and restricted cash[46](index=46&type=chunk) Key Balance Sheet Items (As of March 31, 2024, RMB thousand) | Item | Amount | | :--- | :--- | | **Total Assets** | 28,530,040 | | **Total Liabilities** | 39,270,781 | | **Total Shareholders' Equity (Deficit)** | (10,740,741) | [Appendices and Supplementary Information](index=5&type=section&id=Supplementary%20Information) [Conference Call Information](index=5&type=section&id=Conference%20Call) Management will host an earnings conference call on June 11, 2024, at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time), with online registration available for investors - The earnings conference call is scheduled for **June 11, 2024**, with online registration and webcast available[66](index=66&type=chunk)[25](index=25&type=chunk)[48](index=48&type=chunk) [About ZEEKR](index=6&type=section&id=About%20ZEEKR) ZEEKR, established in March 2021, is a rapidly growing intelligent electric vehicle technology company dedicated to leading automotive electrification, intelligence, and innovation through developing and selling next-generation premium intelligent EVs and technology-driven solutions, including models like ZEEKR 001, 009, and X - ZEEKR is a company focused on premium intelligent electric vehicles and technology solutions, with a product portfolio including **ZEEKR 001**, **ZEEKR 009**, and **ZEEKR X** models[67](index=67&type=chunk)[49](index=49&type=chunk) [Explanation of Non-GAAP Financial Measures](index=6&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP financial measures, such as adjusted operating loss and adjusted net loss, to evaluate performance and make decisions, excluding share-based compensation expenses to provide a clearer understanding of underlying business trends and future prospects - The company uses non-GAAP financial measures to exclude the impact of share-based compensation expenses, aiming to help investors better understand core operating performance[50](index=50&type=chunk) [Financial Statements](index=8&type=section&id=Financial%20Statements) This section includes the company's unaudited condensed consolidated balance sheets, statements of comprehensive loss, and reconciliations of GAAP to non-GAAP results, detailing financial data for the reporting period [Unaudited Condensed Consolidated Balance Sheets](index=8&type=section&id=UNAUDITED%20CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) [Unaudited Condensed Consolidated Statements of Comprehensive Loss](index=10&type=section&id=UNAUDITED%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20%28LOSS%29%2FINCOME) [Unaudited Reconciliations of GAAP and Non-GAAP Results](index=12&type=section&id=UNAUDITED%20RECONCILIATIONS%20OF%20GAAP%20AND%20NON-GAAP%20RESULTS)

Core Insights - The company reported strong financial results for the first quarter of 2024, with total revenues increasing by 71.0% year-over-year and gross profit surging by 154.9% year-over-year, despite a decrease in both metrics compared to the previous quarter [2][17][42]. Financial Performance - Vehicle sales reached RMB8,174.1 million (US$1,132.1 million) for Q1 2024, marking a 73.0% increase from RMB4,725.2 million in Q1 2023, but a 22.8% decrease from RMB10,592.6 million in Q4 2023 [2][18]. - Total revenues for Q1 2024 were RMB14,736.8 million (US$2,041.0 million), up 71.0% from RMB8,620.4 million in Q1 2023, but down 9.9% from RMB16,357.9 million in Q4 2023 [2][42]. - Gross profit was RMB1,739.4 million (US$240.9 million) for Q1 2024, a 154.9% increase from RMB682.5 million in Q1 2023, but a decrease of 25.3% from RMB2,328.3 million in Q4 2023 [2][52]. - The gross margin improved to 11.8% in Q1 2024 from 7.9% in Q1 2023, but decreased from 14.2% in Q4 2023 [2][19]. Loss Metrics - The company reported a loss from operations of RMB2,086.9 million (US$289.0 million) for Q1 2024, which is an 11.2% decrease from RMB2,349.2 million in Q1 2023 and a 29.3% decrease from RMB2,950.1 million in Q4 2023 [2][66]. - The net loss for Q1 2024 was RMB2,022.1 million (US$280.1 million), down 18.0% from RMB2,465.4 million in Q1 2023 and down 31.2% from RMB2,937.9 million in Q4 2023 [2][21]. - Non-GAAP net loss, excluding share-based compensation, was RMB2,019.4 million (US$279.7 million) for Q1 2024, representing a decrease of 17.0% from RMB2,432.6 million in Q1 2023 and a decrease of 30.4% from RMB2,902.6 million in Q4 2023 [2][54]. Vehicle Deliveries - The company delivered 33,059 vehicles in Q1 2024, reflecting a 117% year-over-year increase [41]. - In April 2024, vehicle deliveries reached 16,089, a 99% increase from April 2023 [4]. Operational Insights - The vehicle margin for Q1 2024 was 14.0%, up from 10.1% in Q1 2023, but down from 15.3% in Q4 2023 [2][65]. - Research and development expenses were RMB1,925.3 million (US$266.6 million) for Q1 2024, a 6.7% increase from RMB1,805.1 million in Q1 2023, but a 39.1% decrease from RMB3,162.5 million in Q4 2023 [30]. - Selling, general and administrative expenses were RMB1,951.5 million (US$270.3 million) for Q1 2024, a 51.9% increase from RMB1,284.4 million in Q1 2023, but a decrease of 11.6% from RMB2,207.9 million in Q4 2023 [53]. Cash Position - As of March 31, 2024, the company had cash and cash equivalents of RMB3,791.1 million (US$525.1 million) [11].

Core Insights - ZEEKR delivered 18,616 vehicles in May 2024, marking a 115% year-over-year increase, with cumulative deliveries reaching 264,397 by the end of May 2024 [1] Company Overview - ZEEKR is a rapidly growing intelligent battery electric vehicle (BEV) technology company, incorporated in March 2021, focusing on the electrification and innovation of the automobile industry through next-generation premium BEVs and technology-driven solutions [2] - The current product portfolio includes models such as ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR 009 Grand, ZEEKR X, and an upscale sedan [2] Operational Strengths - The company emphasizes creating an ultimate mobility experience through technology and solutions, supported by strong in-house R&D capabilities, operational flexibility, and an efficient organizational structure [3] - These features facilitate fast product development, launch, and iteration, along with customer-oriented products and go-to-market strategies [3]

HANGZHOU, China, May 31, 2024 /PRNewswire/ -- ZEEKR Intelligent Technology Holding Limited ("ZEEKR" or the "Company") (NYSE: ZK), a fast-growing intelligent battery electric vehicle ("BEV") technology company, today announced that it will report its unaudited financial results for the quarter ended March 31, 2024, before the U.S. markets open on Tuesday, June 11, 2024. The Company's management will host an earnings conference call on Tuesday, June 11, 2024, at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing/ ...

Core Insights - Zeekr Intelligent Technology Holding's American depositary shares (ADSs) rose significantly after its initial public offering (IPO), closing at $28.26, a nearly 35% increase from the IPO price of $21 per ADS [2][5] - The company is intensifying competition in the electric vehicle (EV) market, impacting larger Chinese firms like BYD and international competitors such as Tesla [3][6] - Zeekr's IPO is notable as it represents the largest U.S. IPO from a Chinese company since Didi in 2021, highlighting the favorable capital markets for new energy vehicles in New York [5] Company Overview - Zeekr is a subsidiary of Zhejiang Geely Holding Group, which has investments in various automotive brands including Geely, Volvo, Polestar, and Lotus [4] - The choice to list in New York underscores Zeekr's ambition to establish itself as a global brand in the EV sector [4] Market Context - The IPO reflects a trend of Chinese EV manufacturers expanding internationally, with speculation about Zeekr's potential for further global expansion [3] - Following its debut, Zeekr's ADSs continued to rise, indicating strong market interest and investor confidence [5][6]

吉姆·西蒙斯去世，半生在用数学搞清楚市场发生了什么 极氪上市，一台车撑起 2.8 万美元市值 学钢琴的孩子少了，雅马哈利润下滑 关注《晚点财经》并设为星标，第一时间获取每日商业精华。 吉姆·西蒙斯去世，半生在用数学搞清楚市场发生了什么 有两个投资团队几乎年年跑赢市场，几十年来为投资者带去上千亿美元回报。 一个团队精简、只有几个人参与直接决策。不动用高等数学和编程语言，只在看过公司基本面后挑最 好的时机买入。平均一年做不了一次交易决策。这是巴菲特和芒格的伯克希尔哈撒韦。 另一个团队雇了数百名数学和物理学博士，用大量数据训练模型、写算法交易，对他们而言一家公司 跟标了名字的筹码没什么区别，电脑一天自动做出成千上万次交易。这是吉姆·西蒙斯的文艺复兴科 技。 图片来源：西蒙斯基金会 当地时间 5 月 10 日，文艺复兴创始人、数学家、破译学家吉姆·西蒙斯在曼哈顿的家中去世，享年 86 岁。西蒙斯的发言人乔纳森·加斯塔尔特证实了他的死讯，但没有具体说明死因。 西蒙斯一生都在求解。三岁时喜欢心算倍数，二十岁从麻省理工学院毕业，然后去加州大学伯克利分 校读博 —— 他听说那里的微分几何最好。毕业后在哈佛和麻省理工学院任教一 ...

China-based premium-label electric vehicle (EV) manufacturer Zeekr (NYSE:ZK) got off to a strong debut on Friday, ironically amid the Biden administration’s plans to raise tariffs on Chinese vehicle imports to the U.S., according to Reuters. The dichotomy reflects the double-forked nature of ZK stock.As InvestorPlace contributor Dana Blankenhorn explained, Zeekr represents a spinoff from Geely (OTCMKTS:GELYY). It’s the second such entity to be traded in U.S. exchanges, following Polestar (NASDAQ:PSNY), a sp ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Zeekr (NYSE:ZK), a Chinese maker of luxury electric vehicles (EVs), holds its IPO today with an initial price of $21 per share. The price is at the top of the expected range. It indicates strong demand for the 21 million American Depository Receipts (ADRs) being offered. Zeekr filed an F-1 document with the Securities and Exchange Commission (SEC) early this month.However, the most important thing for many to know about Zeekr is that Zeekr is not the story here.Zeeker Is Another Geely JointZeekr is yet anot ...