Financial Data and Key Metrics Changes - In Q3 2025, the company delivered nearly 1,800 vehicles, representing a 35% decrease year-on-year but a 28% increase quarter-on-quarter [4] - Revenue for Q3 was $137 million, down 46% year-on-year but up 10% sequentially, with total revenue for the first nine months at $356 million, down 45% year-on-year [4][5] - Gross margin improved by 8% in Q3, up 3 percentage points from the previous quarter and 5 percentage points from the same period last year [5] - The operating loss for Q3 was $95 million, a 41% improvement year-on-year, while the net loss was $65 million, a 68% improvement year-on-year [8] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 77% of total deliveries in Q3, down from 83% in Q2, contributing 72% of total deliveries for the first nine months [5][6] - Deliveries in the U.S. sports car market began a gradual recovery in Q3 after tariff disruptions were resolved [6][7] Market Data and Key Metrics Changes - Delivery growth in China for the first nine months outpaced the broader premium auto segment, indicating competitive strength in a challenging environment [7] - The company had 213 retail stores worldwide, with a balanced distribution across Europe, China, North America, and other markets [14] Company Strategy and Development Direction - The company plans to unveil a new PHEV model to expand its electrification product roadmap and address consumer demand in diversified powertrain segments [9] - The company is optimizing its global presence and enhancing retail efficiency, including relocating its European headquarters back to the U.K. to cut operational expenses [16] - The acquisition of Lotus UK is progressing, with expectations to complete the merger in 2026, aiming to operate under a unified global identity [22][24] Management's Comments on Operating Environment and Future Outlook - Management highlighted a transitional period characterized by tariffs and destocking activities, but expressed confidence in future gross margin improvements due to new product launches and operational efficiencies [4][39] - The premium vehicle market in China is rapidly growing, with a significant share of plug-in hybrids, presenting an opportunity for the company [29][31] Other Important Information - The company achieved several key milestones, including participation in IAA Mobility 2025 and positive feedback from the public regarding its design exhibitions [10][12] - The introduction of hybrid models is expected to attract new customer segments and expand into markets with slower EV adoption [21] Q&A Session Summary Question: Key highlights of the upcoming PHEV models and strategic rationale - The hybrid model features the best energy-efficient engine, performance hybrid systems, and high power motor, showcasing Lotus' DNA in handling and performance [27] - The strategic rationale includes the growing premium vehicle market in China, where plug-in hybrids are a major driver of new energy vehicle expansion [29][31] Question: Guidance on gross margin for this year and next year - The gross margin for the full year is expected to remain in the high single-digit range, with further improvements projected due to new product launches and supply chain integration [38][39]

Financial Data and Key Metrics Changes - In Q3 2025, the company delivered nearly 1,800 vehicles, representing a 35% decrease year-on-year but a 28% increase quarter-on-quarter [4] - Revenue for Q3 was $137 million, down 46% year-on-year but up 10% sequentially, with total revenue for the first nine months at $356 million, down 45% year-on-year [4][5] - Gross margin improved by 8% in Q3, up 3 percentage points from the previous quarter and 5 percentage points from the same period last year [5] - The operating loss for Q3 was $95 million, a 41% improvement year-on-year, while the net loss was $65 million, a 68% improvement year-on-year [8] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 77% of total deliveries in Q3, down from 83% in Q2, contributing 72% of total deliveries for the first nine months [5][6] - Deliveries in the U.S. sports car market began a gradual recovery in Q3 after tariff disruptions were resolved [6][7] Market Data and Key Metrics Changes - Delivery growth in China for the first nine months outpaced the broader premium auto segment, indicating competitive strength in a challenging environment [7] - The company had 213 retail stores worldwide by the end of September, with a balanced distribution across Europe, China, North America, and other markets [15] Company Strategy and Development Direction - The company plans to unveil a new PHEV model to expand its electrification product roadmap and address consumer demand in diversified powertrain segments [9] - The company is preparing to enter new markets, starting with Brazil, which has a growing new energy vehicle penetration rate [18] - The acquisition of Lotus UK is progressing, with expectations to complete the merger by 2026, aiming to operate under a unified global strategy [23][24] Management's Comments on Operating Environment and Future Outlook - Management highlighted a transitional period characterized by tariffs, destocking activities, and upgraded module deliveries impacting performance [4] - The company remains focused on prudent resource allocation and margin enhancement while preparing for a dynamic operating environment [9] - Management expressed confidence in improving gross margins due to the launch of PHEV products and the penetration of facelifted BEV products in global markets [37] Other Important Information - The company achieved several key milestones amid market competition, including participation in major automotive events and successful racing series [10][11][12] - The company is implementing cost-to-country measures and optimizing its store portfolio to enhance efficiency [16][17] Q&A Session Summary Question: Could you elaborate on the key highlights of the upcoming PHEV models and the strategic rationale behind those products? - Management highlighted that the hybrid model features the best energy-efficient engine, performance hybrid systems, and high power motor, showcasing Lotus' DNA in handling and performance [27] - The strategic rationale includes the rapid growth of the premium vehicle market in China and the underdeveloped competition in the premium E-segment hybrid SUV space [29][30] Question: Do you have any guidance on your gross margin for this year and next year? - Management expects the gross margin for the full year to remain in the high single-digit range, with further improvements projected due to the launch of PHEV products and increased sales of facelifted BEV products [36][37]

Financial Data and Key Metrics Changes - In Q3 2025, the company delivered nearly 1,800 vehicles, representing a 35% decrease year-on-year but a 28% increase quarter-on-quarter [4] - Revenue for Q3 was $137 million, down 46% year-on-year but up 10% sequentially, with total revenue for the first nine months at $356 million, down 45% year-on-year [4] - Gross margin improved by 8% in Q3, up 3 percentage points from the previous quarter and 5 percentage points from the same period last year [5] - The operating loss for Q3 was $95 million, a 41% improvement year-on-year, while the net loss narrowed to $65 million, down 68% year-on-year [7] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 77% of total deliveries in Q3, down from 83% in Q2, contributing 72% of total deliveries for the first nine months [5] - Deliveries in the U.S. sports car market began a gradual recovery in Q3 after tariff disruptions were resolved [6] Market Data and Key Metrics Changes - Delivery growth in China for the first nine months outpaced the broader premium auto segment, indicating competitive strength in a challenging environment [6] - The company had 213 retail stores worldwide, with a balanced distribution across Europe, China, North America, and other markets [13][14] Company Strategy and Development Direction - The company plans to unveil a new PHEV model to expand its electrification product roadmap and address consumer demand in diversified powertrain segments [8] - The acquisition of Lotus UK is progressing, with expectations to complete the merger in 2026, aiming to streamline operations and enhance global brand recognition [20][21] Management's Comments on Operating Environment and Future Outlook - Management highlighted a commitment to cost discipline and inventory optimization, resulting in significantly narrowed losses for both the quarter and year-to-date [7] - The gross margin for the full year is expected to remain in the high single-digit range, with projections for further improvement due to new product launches and supply chain integration [34] Other Important Information - The company showcased its concept cars at IAA Mobility 2025, emphasizing its brand legacy and electric strategy [9] - The introduction of hybrid models aims to attract new customer segments and expand into markets with slower EV adoption [19] Q&A Session Summary Question: Key highlights of the upcoming PHEV models and strategic rationale - The hybrid model features the best energy-efficient engine, performance hybrid systems, and high power motor, showcasing Lotus' DNA in handling and performance [25] - The strategic rationale includes tapping into the rapidly growing premium vehicle market in China, where plug-in hybrids are gaining significant traction [27][28] Question: Guidance on gross margin for this year and next year - The gross margin for the full year is expected to remain in the high single-digit range, with further improvements projected due to new product launches and supply chain efficiencies [34]

Core Viewpoint - Lotus has officially launched two updated models, Emeya and Eletre, targeting the luxury car market with innovative designs and enhanced performance [1][3]. Group 1: Product Launch - Emeya is positioned as a large vehicle with three variants priced between 538,000 and 828,000 yuan, while Eletre is a mid-large SUV with three variants priced between 558,000 and 838,000 yuan [1]. - The design of Emeya features a sharp shark-nose aesthetic, continuing Lotus's distinctive family design while emphasizing a sporty feel [3]. Group 2: Design and Technology - Emeya's interior focuses on luxury and technology, utilizing eco-friendly materials and advanced features such as five digital displays and a 55-inch AR-HUD [5]. - Eletre's design incorporates supercar elements and aerodynamic principles, with features aimed at reducing air resistance [5]. Group 3: Performance - Emeya achieves a 0-100 km/h acceleration time of 2.78 seconds and a top speed of 256 km/h, while Eletre has a 0-100 km/h time of 2.95 seconds and a maximum power output of 675 kW [5]. - Lotus emphasizes its driving capabilities and has developed digital control technologies for its electric vehicles [5][6]. Group 4: Market Challenges - Despite a 86% quarter-on-quarter increase in deliveries in China, Lotus's total global deliveries for the first half of the year were only 2,383 units, falling short of its annual target of 30,000 units [8]. - The luxury car market has seen a decline in sales by 30%-40%, posing challenges for Lotus as it seeks to establish a foothold in the competitive electric vehicle segment [8].

Core Points - Lotus Technology has signed a securities purchase agreement with ATW Partners to issue convertible notes worth up to $300 million (approximately 2.15 billion RMB) [1][6] - The company also signed a credit framework agreement with Geely, allowing for a non-revolving credit line of up to 1.6 billion RMB [6] - Following these announcements, Lotus's stock price increased for three consecutive days, closing at $2.2 per share (approximately 15.7 RMB) on August 22 [6] Financial Performance - In Q1, Lotus delivered a total of 1,274 vehicles globally, with revenue of $93 million (approximately 660 million RMB), a 46% decline year-over-year [6] - The gross profit for the quarter was $11 million (approximately 78.82 million RMB), with a gross margin of 12% [6] - The overall operating loss was $103 million (approximately 740 million RMB), which narrowed by 56% compared to the same period last year [6] Market Strategy - Lotus has rebranded in the Chinese market as "Lotus" and is expanding its product matrix [6][7] - The company plans to launch its first plug-in hybrid model based on the 900V Hyper Hybrid EV technology by the end of 2024 [7] - Lotus aims to maintain a differentiated strategy amidst fierce market competition, optimizing product configurations and expanding its product offerings [7] - The company reported that sales in Europe, China, and North America each accounted for 32% of total sales, with the European market experiencing a 179% year-over-year growth [7]

Table of Contents As filed with the Securities and Exchange Commission on September 19, 2024 Registration No. 333 - UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT Under The Securities Act of 1933 Lotus Technology Inc. (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) +86 21 5466 - 6258 (Address, including zip code, and telephone number, including area code, of Registrant's principal e ...