UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2024
Commission File Number: 001-42042
ZEEKR Intelligent Technology Holding Limited
(Exact Name of Registrant as Specified in Its
Charter)
No. 1388 Minshan Road
Xinqi Street, Beilun District
Ningbo, Zhejiang
People’s Republic of China
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
EXHIBIT INDEX
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
ZEEKR Intelligent Technology Holding Limited |
| |
|
|
| Date: June 11, 2024 |
By: |
/s/ Conghui An |
| |
|
Name: |
Conghui An |
| |
|
Title: |
Chief Executive Officer |
Exhibit 99.1
ZEEKR Reports First Quarter 2024 Unaudited Financial
Results
HANGZHOU, China, June 11, 2024 -- ZEEKR Intelligent
Technology Holding Limited (“ZEEKR” or the “Company”) (NYSE: ZK), a fast-growing intelligent battery electric
vehicle (“BEV”) technology company, today announced its unaudited financial results for the first quarter ended March 31,
2024.
Operating Highlights for the First Quarter
of 2024
| · | Total vehicle deliveries were 33,059 units for the first quarter of 2024, representing a 117% year-over-year increase. |
| Deliveries | |
2024 Q1 | | |
2023 Q4 | | |
2023 Q3 | | |
2023 Q2 | |
| | |
| 33,059 | | |
| 39,657 | | |
| 36,395 | | |
| 27,399 | |
| Deliveries | |
| 2023 Q1 | | |
| 2022 Q4 | | |
| 2022 Q3 | | |
| 2022 Q2 | |
| | |
| 15,234 | | |
| 32,467 | | |
| 20,464 | | |
| 10,769 | |
Financial Highlights for the First Quarter
of 2024
| · | Vehicle sales were RMB8,174.1 million (US$1,132.1 million) for the first quarter of 2024, representing
an increase of 73.0% from the first quarter of 2023 and a decrease of 22.8% from the fourth quarter of 2023. |
| · | Vehicle margin was 14.0% for the first quarter of 2024, compared with 10.1% for the first quarter of 2023
and 15.3% for the fourth quarter of 2023. |
| · | Total revenues were RMB14,736.8 million (US$2,041.0 million) for the first quarter of 2024, representing
an increase of 71.0% from the first quarter of 2023 and a decrease of 9.9% from the fourth quarter of 2023. |
| · | Gross profit was RMB1,739.4 million (US$240.9 million) for the first quarter of 2024, representing an
increase of 154.9% from the first quarter of 2023 and a decrease of 25.3% from the fourth quarter of 2023. |
| · | Gross margin was 11.8% for the first quarter of 2024, compared with 7.9% for the first quarter of 2023
and 14.2% for the fourth quarter of 2023. |
| · | Loss from operations was RMB2,086.9 million (US$289.0 million) for the first quarter of 2024, representing
a decrease of 11.2% from the first quarter of 2023 and a decrease of 29.3% from the fourth quarter of 2023. Excluding share-based compensation
expenses, adjusted loss from operations (non-GAAP) was RMB2,084.2 million (US$288.7 million) for the first quarter of 2024, representing
a decrease of 10.0% from the first quarter of 2023 and a decrease of 28.5% from the fourth quarter of 2023. |
| · | Net loss was RMB2,022.1 million (US$280.1 million) for the first quarter of 2024, representing a decrease
of 18.0% from the first quarter of 2023 and a decrease of 31.2% from the fourth quarter of 2023. Excluding share-based compensation expenses,
adjusted net loss (non-GAAP) was RMB2,019.4 million (US$279.7 million) for the first quarter of 2024, representing a decrease of 17.0%
from the first quarter of 2023 and a decrease of 30.4% from the fourth quarter of 2023. |
Key Financial Results
(in RMB millions, except for percentages)
| | |
2024 Q1 | | |
2023 Q4 | | |
2023 Q1 | | |
% Change i | |
| | |
| | |
| | |
| | |
YoY | | |
QoQ | |
| Vehicle sales | |
| 8,174.1 | | |
| 10,592.6 | | |
| 4,725.2 | | |
| 73.0 | % | |
| (22.8 | )% |
| Vehicle margin | |
| 14.0 | % | |
| 15.3 | % | |
| 10.1 | % | |
| 3.9 | % | |
| (1.3 | )% |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total revenues | |
| 14,736.8 | | |
| 16,357.9 | | |
| 8,620.4 | | |
| 71.0 | % | |
| (9.9 | )% |
| Gross profit | |
| 1,739.4 | | |
| 2,328.3 | | |
| 682.5 | | |
| 154.9 | % | |
| (25.3 | )% |
| Gross margin | |
| 11.8 | % | |
| 14.2 | % | |
| 7.9 | % | |
| 3.9 | % | |
| (2.4 | )% |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loss from operations | |
| (2,086.9 | ) | |
| (2,950.1 | ) | |
| (2,349.2 | ) | |
| (11.2 | )% | |
| (29.3 | )% |
| Non-GAAP loss from operations | |
| (2,084.2 | ) | |
| (2,914.8 | ) | |
| (2,316.5 | ) | |
| (10.0 | )% | |
| (28.5 | )% |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss | |
| (2,022.1 | ) | |
| (2,937.9 | ) | |
| (2,465.4 | ) | |
| (18.0 | )% | |
| (31.2 | )% |
| Non-GAAP net loss | |
| (2,019.4 | ) | |
| (2,902.6 | ) | |
| (2,432.6 | ) | |
| (17.0 | )% | |
| (30.4 | )% |
| i |
Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented |
Recent Developments
Delivery Updates
In April 2024, the Company delivered 16,089 vehicles, representing
an increase of 99% from April 2023.
In May 2024, the Company delivered 18,616 vehicles, representing
an increase of 115% from May 2023.
New Model Launches
In February 2024, the Company launched the all-new ZEEKR 001 2024
model, a five-seater, cross-over shooting brake, and started deliveries in March 2024.
In April 2024, the Company launched the ZEEKR 009 Grand, a deluxe
version of the ZEEKR 009, and started deliveries in May 2024.
CEO and CFO Comments
| “We started our journey as a public company on a strong note with an excellent operational and financial performance for the
first quarter of 2024,” said Mr. Andy An, ZEEKR’s chief executive officer. “First quarter deliveries soared to
33,059 vehicles, up 117% year-over-year to reach a new quarterly record high and propelling our progress toward our full-year goal of
230,000 vehicles. This sustained growth in deliveries also secured our position as the best-selling brand in the battery electric vehicle
market segment priced over RMB 200,000 in China. With multiple groundbreakings, feature-rich models in our production pipeline, ZEEKR
continues to redefine the ultimate in handling, performance, innovation and luxury. Going forward, we will continue to push the boundaries
of intelligent and autonomous technology, build out our ultra-fast charging ecosystem and expand our channel services, boosting our competitiveness
on all fronts. Given these strengths and the strategic advantages and synergies we derive from our parent company, Geely Group, ZEEKR
is well-positioned to drive sustainable, global growth.” |
| “We delivered robust results across the board for the first quarter of 2024, with total revenues rising by 71.0% and gross profit
surging by 154.9% year-over-year,” added Mr. Jing Yuan, chief financial officer of ZEEKR. “Vehicle margin also increased,
up by 3.9 percentage points year-over-year thanks to effective procurement cost control. Our successful initial public offering on the
New York Stock Exchange in May significantly strengthened our balance sheet, setting the stage for our long-term development. We
remain confident that our solid financial position and growing competitiveness will empower us to deliver long-term value to our shareholders
and global stakeholders.” |
Financial Results for the First Quarter of 2024
Revenues
| · | Total revenues were RMB14,736.8 million (US$2,041.0 million) for the first quarter of 2024,
representing an increase of 71.0% from RMB8,620.4 million for the first quarter of 2023 and a decrease of 9.9% from RMB16,357.9 million
for the fourth quarter of 2023. |
| · | Revenues from vehicle sales were RMB8,174.1 million (US$1,132.1 million) for the first quarter
of 2024, representing an increase of 73.0% from RMB4,725.2 million for the first quarter of 2023, and a decrease of 22.8% from RMB10,592.6
million for the fourth quarter of 2023. The year-over-year increases were due to the increased sales volume of ZEEKR vehicles. The quarter-over-quarter
decrease was due to seasonality that impacted our delivery volume, as well as the lower average selling price primarily caused by the
change in our product mix. |
| · | Revenues from sales of batteries and other components were RMB6,318.5 million (US$875.1
million) for the first quarter of 2024, representing an increase of 82.0% from RMB3,471.5 million for the first quarter of 2023 and
an increase of 56.5% from RMB4,038.1 million for the fourth quarter of 2023. The year-over-year and quarter-over-quarter
increases were mainly attributable to the increasing sales volume of battery packs and electric drives, as well as the
growth of battery components overseas. |
| · | Revenues from research and development service and other services were RMB244.1 million (US$33.8
million) for the first quarter of 2024, representing a decrease of 42.4% from RMB423.7 million for the first quarter of 2023 and
a decrease of 85.9% from RMB1,727.2 million for the fourth quarter of 2023. The year-over-year and quarter-over-quarter decreases
were mainly due to the decreased sales of research and development services and out-licensed technologies to related parties. |
Cost of Revenues and Gross Margin
| · | Cost of revenues was RMB12,997.4 million (US$1,800.1 million) for the first quarter of 2024,
representing an increase of 63.7% from RMB7,937.9 million for the first quarter of 2023 and a decrease of 7.4% from RMB14,029.6 million
for the fourth quarter of 2023. |
| · | Gross profit was RMB1,739.4 million (US$240.9 million) for the first quarter of 2024, representing
an increase of 154.9% from RMB682.5 million for the first quarter of 2023 and a decrease of 25.3% from RMB2,328.3 million for
the fourth quarter of 2023. |
| · | Gross margin was 11.8% for the first quarter of 2024, compared with 7.9% for the first quarter
of 2023 and 14.2% for the fourth quarter of 2023. The year-over-year increase was mainly attributable to the increase in vehicle margin.
The quarter-over-quarter decrease was mainly due to the decrease in vehicle margin as well as the increase in the percentage of revenue
from sales of batteries and other components, which has a lower gross margin than vehicle sales. |
| · | Vehicle margin was 14.0% for the first quarter of 2024, compared with 10.1% for the first quarter
of 2023 and 15.3% for the fourth quarter of 2023. The year-over-year increase was primarily attributed to procurement savings as the cost
of auto parts and materials decreased. The quarter-over-quarter decrease was mainly due to the delivery of new vehicle models as well
as the change in product mix. |
Operating Expenses
| · | Research and development expenses were RMB1,925.3 million (US$266.6 million) for the first
quarter of 2024, representing an increase of 6.7% from RMB1,805.1 million for the first quarter of 2023 and a decrease of 39.1% from
RMB3,162.5 million for the fourth quarter of 2023. The year-over-year increase was attributable to increased employee compensation as
a result of our growing number of staff as well as increased expenses to support our expanding product portfolios and intelligent technologies.
The quarter-over-quarter decrease reflected fluctuations due to different design and development stages of new products and technologies. |
| · | Selling, general and administrative expenses were RMB1,951.5 million (US$270.3 million) for
the first quarter of 2024, representing an increase of 51.9% from RMB1,284.4 million for the first quarter of 2023 and a decrease
of 11.6% from RMB2,207.9 million for the fourth quarter of 2023. The year-over-year increase was due to increased employee compensation
as a result of our growing number of staff as well as increased marketing and promotional activities for ZEEKR vehicles in China and overseas,
and an increase in rental and related expenses due to the expansion of our offline channel. The quarter-over-quarter decrease was mainly
due to decreased marketing and promotional activities. |
Loss from Operations
| · | Loss from operations was RMB2,086.9 million (US$289.0 million) for the first quarter of 2024,
representing a decrease of 11.2% from RMB2,349.2 million for the first quarter of 2023 and a decrease of 29.3% from RMB2,950.1 million
for the fourth quarter of 2023. |
| · | Non-GAAP loss from operations, which excludes share-based compensation expenses, was RMB2,084.2 million
(US$288.7 million) for the first quarter of 2024, representing a decrease of 10.0% from RMB2,316.5 million for the first quarter of 2023
and a decrease of 28.5% from RMB2,914.8 million for the fourth quarter of 2023. |
Net Loss and Net Loss Per Share
| · | Net loss was RMB2,022.1 million (US$280.1 million) for the first quarter of 2024, representing
a decrease of 18.0% from RMB2,465.4 million for the first quarter of 2023 and a decrease of 31.2% from RMB2,937.9 million for the
fourth quarter of 2023. |
| · | Non-GAAP net loss, which excludes share-based compensation expenses, was RMB2,019.4 million (US$279.7
million) for the first quarter of 2024, representing a decrease of 17.0% from RMB2,432.6 million for the first quarter of 2023 and
a decrease of 30.4% from RMB2,902.6 million for the fourth quarter of 2023. |
| · | Net loss attributable to ordinary shareholders of ZEEKR was RMB2,014.3 million (US$279.0 million)
for the first quarter of 2024, representing a decrease of 15.9% from RMB2,394.3 million for the first quarter of 2023 and a decrease
of 32.6% from RMB2,986.9 million for the fourth quarter of 2023. |
| · | Non-GAAP net loss attributable to ordinary shareholders of ZEEKR, which excludes share-based compensation
expenses, was RMB2,011.6 million (US$278.6 million) for the first quarter of 2024, representing a decrease of 14.8% from RMB2,361.6
million for the first quarter of 2023 and a decrease of 31.8% from RMB2,951.6 million for the fourth quarter of 2023. |
| · | Basic and diluted net loss per share were both RMB1.01 (US$0.14) for the first quarter of 2024,
compared with RMB1.20 for the first quarter of 2023 and RMB1.49 for the fourth quarter of 2023. |
| · | Non-GAAP basic and diluted net loss per share were both RMB1.01 (US$0.14) for the first quarter
of 2024, compared with RMB1.18 for the first quarter of 2023 and RMB1.48 for the fourth quarter of 2023. |
Balance Sheets
Cash and cash equivalents and restricted cash was RMB 3,791.1 million
(US$525.1 million) as of March 31, 2024.
Conference Call
The Company’s management will host an earnings
conference call on Tuesday, June 11, 2024, at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing/Hong Kong Time on the same
day).
All participants who wish to join the call are
requested to complete the online registration using the link provided below. After registration, each participant will receive by email
a set of dial-in numbers, a passcode and a unique access PIN to join the conference call. Participants may pre-register at any time, including
up to and after the call start time.
Participant Online Registration: https://dpregister.com/sreg/10189650/fca07ffcd6
A live webcast of the conference call will be
available on the Company’s investor relations website at https://ir.zeekrlife.com/.
About ZEEKR
ZEEKR is a fast-growing intelligent BEV technology
company. The Company aspires to lead the electrification, intelligentization, and innovation of the automobile industry through the development
and sales of next-generation premium BEVs and technology-driven solutions. Incorporated in March 2021, ZEEKR has focused on innovative
BEV architecture, hardware, software, and the application of new technologies. Its current product portfolio primarily includes ZEEKR
001, a five-seater, cross-over shooting brake; ZEEKR 001 FR, its latest cross-over shooting brake; ZEEKR 009, a luxury six-seater MPV;
ZEEKR 009 Grand, a four-seat deluxe version of ZEEKR 009; ZEEKR X, a compact SUV, and an upscale sedan model.
With a mission to create the ultimate mobility
experience through technology and solutions, ZEEKR’s efforts are backed by strong in-house R&D capabilities, a deep understanding
of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product
development, launch, and iteration, as well as the creation of a series of customer-oriented products and go-to-market strategies.
For more information, please visit https://ir.zeekrlife.com/.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures,
such as non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic loss
per weighted average number of ordinary shares, in evaluating its operating results and for financial
and operational decision-making purposes. By excluding the impact of share-based compensation expenses, the Company believes that the
non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s
past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with
respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial
measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by
other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating
performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive
loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its
entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures
to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.
For more information on the non-GAAP financial
measures, please see the table captioned “Unaudited Reconciliations of GAAP and non-GAAP Results” set forth in this announcement.
Exchange Rate Information
This announcement contains translations of certain
RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from
RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2203 to US$1.00, the exchange rate on March 29, 2024,
set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar
amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause
actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements
can be identified by words or phrases such as "may," "will," "expect," "anticipate,"
"future," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to," or other similar expressions.
Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All
information provided in this announcement is as of the date of this announcement, and the Company does not undertake any duty to
update such information, except as required under applicable law.
For Investor Enquiries
ZEEKR
Investor Relations
Email: ir@zeekrlife.com
For Media Enquiries
ZEEKR
Media Relations
Email: Globalcomms@zeekrlife.com
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except
share and per share data and otherwise noted)
| | |
As of | |
| | |
December 31 | | |
March 31 | | |
March 31 | |
| | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
US$ | |
| ASSETS | |
| | | |
| | | |
| | |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 3,260,670 | | |
| 2,722,703 | | |
| 377,090 | |
| Restricted cash | |
| 844,079 | | |
| 1,068,400 | | |
| 147,972 | |
| Notes receivable | |
| 487,851 | | |
| 768,360 | | |
| 106,417 | |
| Accounts receivable | |
| 1,104,450 | | |
| 1,240,508 | | |
| 171,808 | |
| Inventories | |
| 5,228,689 | | |
| 4,927,757 | | |
| 682,486 | |
| Amounts due from related parties | |
| 7,256,861 | | |
| 7,761,784 | | |
| 1,074,995 | |
| Prepayments and other current assets | |
| 2,294,508 | | |
| 3,163,007 | | |
| 438,071 | |
| Total current assets | |
| 20,477,108 | | |
| 21,652,519 | | |
| 2,998,839 | |
| Property, plant and equipment, net | |
| 2,914,274 | | |
| 3,000,793 | | |
| 415,605 | |
| Intangible assets, net | |
| 410,912 | | |
| 480,042 | | |
| 66,485 | |
| Land use rights, net | |
| 51,755 | | |
| 51,461 | | |
| 7,127 | |
| Operating lease right-of-use assets | |
| 2,443,545 | | |
| 2,369,528 | | |
| 328,176 | |
| Deferred tax assets | |
| 86,395 | | |
| 109,177 | | |
| 15,121 | |
| Long-term investments | |
| 459,794 | | |
| 550,674 | | |
| 76,267 | |
| Other non-current assets | |
| 273,717 | | |
| 315,846 | | |
| 43,744 | |
| Total non-current assets | |
| 6,640,392 | | |
| 6,877,521 | | |
| 952,525 | |
| TOTAL ASSETS | |
| 27,117,500 | | |
| 28,530,040 | | |
| 3,951,364 | |
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED)
(Amounts in thousands, except
share and per share data and otherwise noted)
| | |
As of | |
| | |
December 31 | | |
March 31 | | |
March 31 | |
| | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
US$ | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | | |
| | |
| Accounts payable | |
| 4,104,717 | | |
| 4,578,825 | | |
| 634,160 | |
| Notes payable | |
| 5,504,945 | | |
| 9,785,003 | | |
| 1,355,207 | |
| Amounts due to related parties | |
| 16,355,902 | | |
| 13,245,235 | | |
| 1,834,444 | |
| Income tax payable | |
| 108,083 | | |
| 85,691 | | |
| 11,868 | |
| Accruals and other current liabilities | |
| 6,243,956 | | |
| 8,121,980 | | |
| 1,124,881 | |
| Total current liabilities | |
| 32,317,603 | | |
| 35,816,734 | | |
| 4,960,560 | |
| Operating lease liabilities, non-current | |
| 1,807,159 | | |
| 1,826,532 | | |
| 252,972 | |
| Amounts due to related parties, non-current | |
| 1,100,000 | | |
| 1,100,000 | | |
| 152,348 | |
| Other non-current liabilities | |
| 563,001 | | |
| 519,365 | | |
| 71,931 | |
| Deferred tax liability | |
| 8,337 | | |
| 8,150 | | |
| 1,129 | |
| Total non-current liabilities | |
| 3,478,497 | | |
| 3,454,047 | | |
| 478,380 | |
| TOTAL LIABILITIES | |
| 35,796,100 | | |
| 39,270,781 | | |
| 5,438,940 | |
| | |
| | | |
| | | |
| | |
| SHAREHOLDERS' EQUITY | |
| | | |
| | | |
| | |
| Ordinary shares | |
| 2,584 | | |
| 2,584 | | |
| 358 | |
| Convertible preferred shares | |
| 362 | | |
| 362 | | |
| 50 | |
| Additional paid-in capital | |
| 11,213,798 | | |
| 11,216,532 | | |
| 1,553,472 | |
| Accumulated deficits | |
| (20,865,686 | ) | |
| (22,880,010 | ) | |
| (3,168,846 | ) |
| Accumulated other comprehensive income/(loss) | |
| 17,555 | | |
| (25,214 | ) | |
| (3,492 | ) |
| Total ZEEKR shareholders’ equity (deficit) | |
| (9,631,387 | ) | |
| (11,685,746 | ) | |
| (1,618,458 | ) |
| Non-controlling interest | |
| 952,787 | | |
| 945,005 | | |
| 130,882 | |
| TOTAL SHAREHOLDERS’ EQUITY (DEFICIT) | |
| (8,678,600 | ) | |
| (10,740,741 | ) | |
| (1,487,576 | ) |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) | |
| 27,117,500 | | |
| 28,530,040 | | |
| 3,951,364 | |
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE (LOSS)/INCOME
(Amounts in thousands, except
share and per share data and otherwise noted)
| | |
Three Months Ended | |
| | |
March 31 | | |
December 31 | | |
March 31 | | |
March 31 | |
| | |
2023 | | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | |
| Revenues: | |
| | | |
| | | |
| | | |
| | |
| Vehicle sales | |
| 4,725,196 | | |
| 10,592,647 | | |
| 8,174,117 | | |
| 1,132,102 | |
| Sales of batteries and other components | |
| 3,471,469 | | |
| 4,038,075 | | |
| 6,318,535 | | |
| 875,107 | |
| Research and development service and other services | |
| 423,743 | | |
| 1,727,203 | | |
| 244,100 | | |
| 33,807 | |
| Total revenues | |
| 8,620,408 | | |
| 16,357,925 | | |
| 14,736,752 | | |
| 2,041,016 | |
| Cost of revenues: | |
| | | |
| | | |
| | | |
| | |
| Vehicle sales | |
| (4,248,677 | ) | |
| (8,974,061 | ) | |
| (7,026,741 | ) | |
| (973,192 | ) |
| Sales of batteries and other components | |
| (3,403,866 | ) | |
| (3,746,895 | ) | |
| (5,883,360 | ) | |
| (814,836 | ) |
| Research and development service and other services | |
| (285,395 | ) | |
| (1,308,642 | ) | |
| (87,301 | ) | |
| (12,091 | ) |
| Total cost of revenues | |
| (7,937,938 | ) | |
| (14,029,598 | ) | |
| (12,997,402 | ) | |
| (1,800,119 | ) |
| Gross profit | |
| 682,470 | | |
| 2,328,327 | | |
| 1,739,350 | | |
| 240,897 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Research and development expenses | |
| (1,805,053 | ) | |
| (3,162,517 | ) | |
| (1,925,278 | ) | |
| (266,648 | ) |
| Selling, general and administrative expenses | |
| (1,284,428 | ) | |
| (2,207,938 | ) | |
| (1,951,530 | ) | |
| (270,284 | ) |
| Other operating income, net | |
| 57,808 | | |
| 92,041 | | |
| 50,525 | | |
| 6,998 | |
| Total operating expenses | |
| (3,031,673 | ) | |
| (5,278,414 | ) | |
| (3,826,283 | ) | |
| (529,934 | ) |
| Loss from operations | |
| (2,349,203 | ) | |
| (2,950,087 | ) | |
| (2,086,933 | ) | |
| (289,037 | ) |
| Interest expense | |
| (104,801 | ) | |
| (35,730 | ) | |
| (10,700 | ) | |
| (1,482 | ) |
| Interest income | |
| 22,731 | | |
| 25,767 | | |
| 20,192 | | |
| 2,797 | |
| Other income/ (expense), net | |
| 11,107 | | |
| 6,420 | | |
| (29,658 | ) | |
| (4,109 | ) |
| Loss before income tax expense and share of losses in equity method investments | |
| (2,420,166 | ) | |
| (2,953,630 | ) | |
| (2,107,099 | ) | |
| (291,831 | ) |
| Share of (loss)/ income in equity method investments | |
| (44,150 | ) | |
| 109,061 | | |
| 90,882 | | |
| 12,588 | |
| Income tax expense | |
| (1,046 | ) | |
| (93,350 | ) | |
| (5,889 | ) | |
| (816 | ) |
| Net loss | |
| (2,465,362 | ) | |
| (2,937,919 | ) | |
| (2,022,106 | ) | |
| (280,059 | ) |
| Less: (loss)/income attributable to non-controlling interest | |
| (71,029 | ) | |
| 48,969 | | |
| (7,782 | ) | |
| (1,078 | ) |
| Net loss attributable to shareholders of ZEEKR | |
| (2,394,333 | ) | |
| (2,986,888 | ) | |
| (2,014,324 | ) | |
| (278,981 | ) |
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED)
(Amounts in thousands, except
share and per share data and otherwise noted)
| | |
Three Months Ended | |
| | |
March 31 | | |
December 31 | | |
March 31 | | |
March 31 | |
| | |
2023 | | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | |
| Net loss per share: | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted | |
| (1.20 | ) | |
| (1.49 | ) | |
| (1.01 | ) | |
| (0.14 | ) |
| Weighted average shares used in calculating net loss per share: | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted | |
| 2,000,000,000 | | |
| 2,000,000,000 | | |
| 2,000,000,000 | | |
| 2,000,000,000 | |
| Net loss | |
| (2,465,362 | ) | |
| (2,937,919 | ) | |
| (2,022,106 | ) | |
| (280,059 | ) |
| Other comprehensive loss, net of tax of nil: | |
| | | |
| | | |
| | | |
| | |
| Foreign currency translation adjustments | |
| (1,919 | ) | |
| 38,684 | | |
| (42,769 | ) | |
| (5,923 | ) |
| Comprehensive loss | |
| (2,467,281 | ) | |
| (2,899,235 | ) | |
| (2,064,875 | ) | |
| (285,982 | ) |
| Less: comprehensive (loss)/income attributable to non-controlling interest | |
| (71,029 | ) | |
| 48,969 | | |
| (7,782 | ) | |
| (1,078 | ) |
| Comprehensive loss attributable to shareholders of ZEEKR | |
| (2,396,252 | ) | |
| (2,948,204 | ) | |
| (2,057,093 | ) | |
| (284,904 | ) |
ZEEKR INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP
RESULTS
(Amounts in thousands, except
share and per share data and otherwise noted)
| | |
Three Months Ended | |
| | |
March 31 | | |
December 31 | | |
March 31 | | |
March 31 | |
| | |
2023 | | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | |
| Loss from operations | |
| (2,349,203 | ) | |
| (2,950,087 | ) | |
| (2,086,933 | ) | |
| (289,037 | ) |
| Share-based compensation expenses | |
| 32,728 | | |
| 35,308 | | |
| 2,734 | | |
| 379 | |
| Non-GAAP loss from operations | |
| (2,316,475 | ) | |
| (2,914,779 | ) | |
| (2,084,199 | ) | |
| (288,658 | ) |
| Net loss | |
| (2,465,362 | ) | |
| (2,937,919 | ) | |
| (2,022,106 | ) | |
| (280,059 | ) |
| Share-based compensation expenses | |
| 32,728 | | |
| 35,308 | | |
| 2,734 | | |
| 379 | |
| Non-GAAP net loss | |
| (2,432,634 | ) | |
| (2,902,611 | ) | |
| (2,019,372 | ) | |
| (279,680 | ) |
| Net loss attributable to ordinary shareholders | |
| (2,394,333 | ) | |
| (2,986,888 | ) | |
| (2,014,324 | ) | |
| (278,981 | ) |
| Share-based compensation expenses | |
| 32,728 | | |
| 35,308 | | |
| 2,734 | | |
| 379 | |
| Non-GAAP net loss attributable to ordinary shareholders of ZEEKR | |
| (2,361,605 | ) | |
| (2,951,580 | ) | |
| (2,011,590 | ) | |
| (278,602 | ) |
| Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted | |
| 2,000,000,000 | | |
| 2,000,000,000 | | |
| 2,000,000,000 | | |
| 2,000,000,000 | |
| Non-GAAP net loss per ordinary share | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted | |
| (1.18 | ) | |
| (1.48 | ) | |
| (1.01 | ) | |
| (0.14 | ) |
ZEEKR Intelligent Techno... (NYSE:ZK)
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From May 2024 to Jun 2024
ZEEKR Intelligent Techno... (NYSE:ZK)
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From Jun 2023 to Jun 2024
