Core Insights - The electric vehicle (EV) market is experiencing significant growth, with multiple companies reporting strong delivery numbers for November 2023 Company Performance - Lee Auto delivered 33,000 vehicles in November, bringing its total cumulative deliveries to nearly 1.5 million [1] - Neo sold 36,000 vehicles in November, marking a 76% year-over-year increase, with cumulative deliveries reaching 949,000 [2] - Xpang delivered 36,000 smart EVs in November, a 19% year-over-year increase, with total deliveries for the first 11 months of 2023 reaching almost 400,000 units, a 156% increase from the previous year [3] - Zeer Intelligent Technology reported 63,900 vehicles delivered in November, up 7% year-over-year [3] - Zeke and Link combined saw 63,000 deliveries, supported by over 2 million cumulative users [4] Market Trends - The growth in vehicle deliveries is driven by strong performance across various brands within the companies, indicating a competitive landscape focused on technology and product innovation [2][3] - The expansion of retail service and charging networks is a strategic focus for companies aiming for long-term competitiveness in the EV market [2]

Core Insights - Zeekr Group reported a total of 63,902 vehicle deliveries in November 2025, marking a year-over-year increase of 7.1% and a month-over-month increase of 3.7% [2] - The Zeekr brand contributed 28,843 vehicles to the total deliveries, while Lynk & Co accounted for 35,059 vehicles [2] - The company has a cumulative user base of over 2.22 million, reflecting strong market trust and support [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, Zeekr and Lynk & Co, 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 Viewpoint - Zeekr Group is preparing for a merger with Geely Automobile Holdings Limited and Keystone Mergersub Limited, with important deadlines for shareholders to elect their preferred form of merger consideration [1][4][8]. Group 1: Merger Details - The merger is expected to close on or about December 29, 2025, pending the satisfaction or waiver of conditions outlined in the Merger Agreement [4]. - Holders of Zeekr Shares must complete and submit election materials by 5:00 p.m. (U.S. Eastern Time) on December 5, 2025, while holders of Zeekr ADSs must do so by December 3, 2025 [8]. - Failure to make a proper election by the deadline will result in the exchange of Zeekr Shares or ADSs for cash consideration as specified in the Merger Agreement [3]. Group 2: Company Overview - Zeekr Group, headquartered in Zhejiang, China, is a leading premium new energy vehicle group under Geely Holding Group, focusing on creating a fully integrated user ecosystem [5]. - The company operates two brands, Lynk & Co and Zeekr, and is committed to innovation, equality, diversity, and sustainability in its operations [5].

Group 1: Automotive Industry Performance - In October 2025, China's automotive exports reached 666,000 units, marking a year-on-year increase of 22.9% and a month-on-month growth of 2.1% [1] - For the first ten months of 2025, automotive exports totaled 5.616 million units, reflecting a year-on-year growth of 15.7% [1] - The investment growth rate in the automotive sector is projected to reach 17.5% in 2025, significantly higher than other manufacturing industries [1] Group 2: Company Financial Performance - Leap Motor reported a net profit of RMB 150 million for Q3 2025, with total deliveries of 173,852 units and a revenue of RMB 19.45 billion, representing a year-on-year increase of 97.3% [2] - XPeng Motors announced a total revenue of RMB 20.38 billion for Q3 2025, a year-on-year increase of 101.8%, while reporting a net loss of RMB 380 million [3] - Zeekr Technology reported total revenue of RMB 31.562 billion for Q3 2025, showing a year-on-year growth of 9.1% and a net loss of RMB 307 million, which narrowed by 84.9% year-on-year [4] Group 3: Corporate Developments - Chery Automobile increased its registered capital from approximately RMB 5.47 billion to about RMB 5.81 billion, reflecting an increase of about 6% [5] - Buick announced the production of the 50,000th GL8 model in less than six months [6] - NIO launched the new ES6 300,000-unit commemorative edition, with pricing options for full purchase and battery rental [6] Group 4: Strategic Partnerships and Innovations - Momenta and BMW Group announced a collaboration to develop a new generation of intelligent driving assistance solutions for the Chinese market, set to debut in the new generation BMW iX3 in 2026 [7]

Core Viewpoint - ZEEKR Intelligent Technology Holding Limited's Q3 earnings were disappointing, leading to a downgrade to a "Hold" rating due to a loss of market share in China and slower growth in delivery numbers [1]. Financial Performance - The company reported slower growth in delivery numbers, which is a significant factor contributing to its loss of market share in China [1]. Market Position - ZEEKR is experiencing challenges in maintaining its market share within the competitive landscape of the Chinese automotive industry [1].

Vehicle Deliveries and Sales - Total vehicle deliveries reached 140,195 units in Q3 2025, a 12.5% year-over-year increase and a 7.1% quarter-over-quarter increase[3] - Vehicle sales amounted to RMB26,527 million (US$3,726 million) in Q3 2025, reflecting a 7.3% increase from Q3 2024 and a 15.8% increase from Q2 2025[7] - The Zeekr brand delivered 21,423 vehicles in October 2025, contributing to a total of 61,636 vehicles delivered across both brands, a 20.5% increase from the previous month[12] Financial Performance - Total revenues were RMB31,562 million (US$4,434 million) for Q3 2025, representing a 9.1% increase year-over-year and a 15.1% increase quarter-over-quarter[15] - Gross profit for Q3 2025 was RMB6,046 million (US$850 million), a 37.1% increase from Q3 2024 and a 6.9% increase from Q2 2025[7] - Net loss decreased to RMB307 million (US$43 million) in Q3 2025, down 84.9% from Q3 2024[8] - Non-GAAP net loss attributable to ordinary shareholders for Q3 2025 was RMB761 million (US$107 million), a decrease of 63.2% from RMB2,068 million in Q3 2024 and an increase of 109.1% from RMB364 million in Q2 2025[25] - Basic and diluted net loss per share attributed to ordinary shareholders for Q3 2025 was RMB0.31 (US$0.04), compared to RMB0.83 in Q3 2024 and RMB0.15 in Q2 2025[25] - Non-GAAP net loss per ADS attributed to ordinary shareholders for Q3 2025 was RMB2.96 (US$0.42), compared to RMB8.10 in Q3 2024[38] Profitability Metrics - Vehicle margin was 15.6% in Q3 2025, compared to 12.6% in Q3 2024, indicating improved profitability[16] - Total revenues for Q3 2025 were RMB31,562 million (US$4,434 million), an increase from RMB28,924 million in Q3 2024 and RMB27,431 million in Q2 2025[34] - Gross profit for Q3 2025 was RMB6,046 million (US$850 million), compared to RMB4,409 million in Q3 2024 and RMB5,656 million in Q2 2025[34] Research and Development - Research and development expenses were RMB2,743 million (US$385 million) in Q3 2025, a decrease of 8.6% from Q3 2024[19] - Research and development expenses for Q3 2025 were RMB2,743 million (US$385 million), compared to RMB3,000 million in Q3 2024[34] Assets and Liabilities - Total current assets as of September 30, 2025, were RMB40,592 million (US$5,702 million), down from RMB50,863 million as of December 31, 2024[31] - Total liabilities as of September 30, 2025, were RMB82,651 million (US$11,611 million), compared to RMB82,407 million as of December 31, 2024[32] Strategic Goals - The company aims to enhance its user ecosystem and develop its own software systems and electric vehicle supply chain[21]

Vehicle Deliveries and Sales - Total vehicle deliveries reached 140,195 units in Q3 2025, a 12.5% year-over-year increase and a 7.1% quarter-over-quarter increase[3] - Vehicle sales amounted to RMB26,527 million (US$3,726 million) in Q3 2025, reflecting a 7.3% increase from Q3 2024 and a 15.8% increase from Q2 2025[7] - The Zeekr brand delivered 21,423 vehicles in October 2025, contributing to a total of 61,636 vehicles delivered across both brands, a 20.5% increase from the previous month[12] Financial Performance - Total revenues were RMB31,562 million (US$4,434 million) for Q3 2025, representing a 9.1% increase year-over-year and a 15.1% increase quarter-over-quarter[9] - Gross profit for Q3 2025 was RMB6,046 million (US$850 million), a 37.1% increase from Q3 2024 and a 6.9% increase from Q2 2025[9] - Net loss decreased to RMB307 million (US$43 million) in Q3 2025, down 84.9% from Q3 2024[8] - Non-GAAP net loss attributable to ordinary shareholders for Q3 2025 was RMB761 million (US$107 million), a decrease of 63.2% from RMB2,068 million in Q3 2024 and an increase of 109.1% from RMB364 million in Q2 2025[25] - Basic and diluted net loss per share attributed to ordinary shareholders for Q3 2025 was RMB0.31 (US$0.04), compared to RMB0.83 in Q3 2024 and RMB0.15 in Q2 2025[25] - The company reported a comprehensive loss attributable to shareholders of RMB812 million (US$114 million) for Q3 2025[37] Profitability Metrics - Vehicle margin was 15.6% in Q3 2025, compared to 12.6% in Q3 2024, indicating improved profitability[9] Research and Development - Research and development expenses were RMB2,743 million (US$385 million) in Q3 2025, a decrease of 8.6% from Q3 2024[19] - Research and development expenses for Q3 2025 were RMB2,743 million (US$385 million), compared to RMB3,000 million in Q3 2024[34] Assets and Liabilities - Total current assets as of September 30, 2025, were RMB40,592 million (US$5,702 million), down from RMB50,863 million as of December 31, 2024[31] - Total liabilities as of September 30, 2025, were RMB82,651 million (US$11,611 million), compared to RMB82,407 million as of December 31, 2024[32] Cash Position - Cash and cash equivalents totaled RMB8,763 million (US$1,231 million) as of September 30, 2025[20] Strategic Goals - The company aims to enhance its user ecosystem and develop its own software systems and electric vehicle supply chain[21] Share Metrics - Non-GAAP net loss attributable to ordinary shareholders per ADS for Q3 2025 was RMB2.96 (US$0.42), compared to RMB8.10 in Q3 2024[25] - The weighted average number of ordinary shares used in calculating Non-GAAP net loss per share for Q3 2025 was 2,572,968,401[38]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並表明不會就因本公佈全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 GEELY AUTOMOBILE HOLDINGS LIMITED 175 80175 海外監管公佈 上市附屬公司－ZEEKR INTELLIGENT TECHNOLOGY HOLDING LIMITED 二零二五年第三季度未經審核財務業績公佈 本公佈由吉利汽車控股有限公司（「本公司」）根據香港聯合交易所有限公司證券上市規則 第13.10B條而作出。 ZEEKR Intelligent Technology Holding Limited（「極氪」）為本公司之非全資附屬公司，其 股份以美國存託股票形式於美國紐約證券交易所上市，已於二零二五年十一月十七日向 美國證券交易委員會遞交表格6-K，內容有關極氪截至二零二五年第三季度之未經審核財 務業績（「二零二五年第三季度業績」）。詳情請參閱隨附之二零二五年第三季度業績。 本公佈以英文發佈，並備有中文譯本。如中英文版本內容有任何歧義或不一致，概以英 文版本為準。 承董 ...

Core Insights - Zeekr Group reported a total vehicle delivery of 140,195 units in Q3 2025, marking a 12.5% year-over-year increase and a 7.1% quarter-over-quarter increase [2][3] - The company's vehicle sales revenue reached RMB 26,527 million (US$ 3,726 million) for Q3 2025, reflecting a 7.3% increase from Q3 2024 and a 15.8% increase from Q2 2025 [5][11] - Net loss for Q3 2025 was RMB 307 million (US$ 43 million), a significant decrease of 84.9% from Q3 2024 [5][16] Delivery Performance - Total vehicle deliveries for Q3 2025 were 140,195 units, with Zeekr brand delivering 52,860 vehicles and Lynk & Co brand delivering 87,335 vehicles, of which 72.4% were NEV models [2][3] - In October 2025, Zeekr Group delivered 61,636 vehicles, a 20.5% increase compared to the previous month [7] Financial Performance - Total revenues for Q3 2025 were RMB 31,562 million (US$ 4,434 million), up 9.1% year-over-year and 15.1% quarter-over-quarter [5][11] - Gross profit for Q3 2025 was RMB 6,046 million (US$ 850 million), representing a 37.1% increase from Q3 2024 [5][16] - Vehicle margin for Q3 2025 was 15.6%, compared to 12.6% in Q3 2024 and 17.3% in Q2 2025 [5][16] Operational Metrics - Research and development expenses were RMB 2,743 million (US$ 385 million) for Q3 2025, down 8.6% from Q3 2024 [16] - Selling, general and administrative expenses increased to RMB 3,783 million (US$ 532 million) for Q3 2025, up 11.3% year-over-year [16] Loss Metrics - Loss from operations was RMB 56 million (US$ 8 million) for Q3 2025, a significant improvement from a loss of RMB 2,076 million in Q3 2024 [5][16] - Non-GAAP net loss for Q3 2025 was RMB 265 million (US$ 37 million), down 86.6% from Q3 2024 [5][16] Cash Position - As of September 30, 2025, cash and cash equivalents and restricted cash totaled RMB 8,763 million (US$ 1,231 million) [18]

Group 1: Company Deliveries - Lee Auto delivered 32,000 vehicles in October, totaling 1,460,000 deliveries, with strong demand for the Lei 6, which has over 70,000 orders [1] - Xpang achieved a record delivery of 42,000 smart EVs in October, representing a 76% year-over-year increase, and has delivered 355,000 vehicles in the first 10 months of 2025, up 190% from the previous year [2] - NEO delivered a record 40,000 vehicles in October, a 92% year-over-year increase, with cumulative deliveries reaching just over 913,000 vehicles [3] - Zeer Intelligent Technology delivered 61,000 vehicles in October, marking a 9% year-over-year increase and a 20% month-over-month increase [3] Group 2: Market Expansion - The company is accelerating global expansion with new stores opening, operating over 550 retail locations and 3,500 supercharging stations across China [2] - The total vehicle deliveries included 21,000 Zeer vehicles and 40,000 Lincoln and Co. vehicles, supported by a growing user base of over 2.15 million [4]