极氪科技二季度业绩释放“提质”向上信号 综合毛利率20.6%创历史新高

Core Viewpoint - Zeekr Technology has reported strong financial performance in Q2, with total revenue reaching 27.431 billion yuan and a record gross margin of 20.6%, driven by the strategic integration with Lynk & Co [1][2]. Financial Performance - Total revenue for Zeekr Technology in the first half of the year was 49.450 billion yuan, with a year-on-year growth of 14.5% in vehicle deliveries, totaling 244,900 units [2]. - The operating profit for Q2 was 285 million yuan, marking the first positive operating profit for the company [1]. - The gross margin for complete vehicles reached a historic high of 17.3%, an increase of 5.8 percentage points year-on-year [1]. Strategic Integration - The strategic integration of Zeekr and Lynk & Co has led to significant cost reductions and improved financial performance, with management expecting further benefits from scale effects [2]. - The integration has resulted in a decrease in R&D expenses, with Q1 at 2.9 billion yuan and Q2 at 2.15 billion yuan [1][2]. Market Positioning - Zeekr is positioned as a luxury technology brand, achieving a sales volume of 91,000 units in the first half of the year, a 3% increase year-on-year [2]. - The average price of Zeekr vehicles is nearly 300,000 yuan, indicating a focus on high-value offerings [5]. Product Development - Zeekr is set to launch the Zeekr 9X, a flagship luxury SUV, in August, which will feature advanced technology and assistive driving capabilities [6][7]. - The company aims to enhance its product matrix in the second half of the year, focusing on both brand elevation and user satisfaction [7]. Competitive Landscape - Zeekr has achieved a record of producing its 500,000th vehicle in just 44 months, the fastest in the global luxury electric vehicle segment [3]. - The company is competing effectively in the high-end luxury market, with its Zeekr 009 series leading in sales among MPVs priced above 400,000 yuan [5].