Zeekr Intelligent Technology(ZK) - 2024 Q4 - Annual Report

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].