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 (US3,120.6 million), up 39.2% year-over-year [6][20]. - Gross profit for Q4 2024 was RMB4,316.5 million (US7,578.2 million), a 63.1% increase from 2023, with total revenues of RMB75,912.7 million (US112.4 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].
Zeekr Group Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results