Technology
ZEEKR Reports Second Quarter 2024 Unaudited Financial Results
Published
2 years agoon
By
HANGZHOU, China, Aug. 21, 2024 /PRNewswire/ — 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 second quarter ended June 30, 2024.
Operating Highlights for the Second Quarter of 2024
Total vehicle deliveries were 54,811 units for the second quarter of 2024, representing a 100% year-over-year increase.
Deliveries
2024 Q2
2024 Q1
2023 Q4
2023 Q3
54,811
33,059
39,657
36,395
Deliveries
2023 Q2
2023 Q1
2022 Q4
2022 Q3
27,399
15,234
32,467
20,464
Financial Highlights for the Second Quarter of 2024
Vehicle sales were RMB13,438.2 million (US$1,849.2 million)[1] for the second quarter of 2024, representing an increase of 59.0% from the second quarter of 2023 and an increase of 64.4% from the first quarter of 2024.Vehicle margin[2] was 14.2% for the second quarter of 2024, compared with 13.6% for the second quarter of 2023 and 14.0% for the first quarter of 2024.Total revenues were RMB20,040.1 million (US$2,757.6 million) for the second quarter of 2024, representing an increase of 58.4% from the second quarter of 2023 and an increase of 36.0% from the first quarter of 2024.Gross profit was RMB3,449.8 million (US$474.7 million) for the second quarter of 2024, representing an increase of 122.5% from the second quarter of 2023 and an increase of 98.3% from the first quarter of 2024.Gross margin was 17.2% for the second quarter of 2024, compared with 12.3% for the second quarter of 2023 and 11.8% for the first quarter of 2024.Loss from operations was RMB1,721.0 million (US$236.8 million) for the second quarter of 2024, representing an increase of 25.5% from the second quarter of 2023 and a decrease of 17.5% from the first quarter of 2024. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP)[3] was RMB777.1 million (US$106.9 million) for the second quarter of 2024, representing a decrease of 41.7% from the second quarter of 2023 and a decrease of 62.7% from the first quarter of 2024.Net loss was RMB1,808.8 million (US$248.9 million) for the second quarter of 2024, representing an increase of 28.7% from the second quarter of 2023 and a decrease of 10.5% from the first quarter of 2024. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB864.9 million (US$119.0 million) for the second quarter of 2024, representing a decrease of 36.8% from the second quarter of 2023 and a decrease of 57.2% from the first quarter of 2024.
[1] All conversions from Renminbi(“RMB”) to U.S. dollars (“US$”) are made at an exchange rate of RMB7.2672 to US$1.00, set forth in the H.10 statistical release of the Federal Reserve Board on June 28, 2024.
[2] Vehicle margin is the margin of vehicle sales, which is calculated based on revenues and cost of revenues derived from vehicle sales only.
[3] The Company’s non-GAAP financial measures exclude share-based compensation expenses. See “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this announcement.
Key Financial Results
(in RMB millions, except for percentages)
2024 Q2
2024 Q1
2023 Q2
% Change i
YoY
QoQ
Vehicle sales
13,438.2
8,174.1
8,450.2
59.0 %
64.4 %
Vehicle margin
14.2 %
14.0 %
13.6 %
0.6pts
0.2pts
Total revenues
20,040.1
14,736.8
12,649.7
58.4 %
36.0 %
Gross profit
3,449.8
1,739.4
1,550.3
122.5 %
98.3 %
Gross margin
17.2 %
11.8 %
12.3 %
4.9pts
5.4pts
Loss from operations
(1,721.0)
(2,086.9)
(1,371.0)
25.5 %
(17.5) %
Non-GAAP loss from operations
(777.1)
(2,084.2)
(1,333.5)
(41.7) %
(62.7) %
Net loss
(1,808.8)
(2,022.1)
(1,405.2)
28.7 %
(10.5) %
Non-GAAP net loss
(864.9)
(2,019.4)
(1,367.7)
(36.8) %
(57.2) %
i Except for vehicle margin and gross margin, absolute changes instead of percentage changes are presented.
Recent Developments
Delivery Update
In July 2024, the Company delivered 15,655 vehicles, representing an increase of 30% from July 2023.
New Model Launches
On August 13, 2024, ZEEKR launched its updated ZEEKR 001 and upscale sedan models, both featuring the latest proprietary ADAS and AI OS technologies. The updated upscale sedan model, now equipped with enhanced batteries, can charge from 10% to 80% in just 10 to 11 minutes using ZEEKR’s ultra-charging piles.
On July 19, 2024, ZEEKR officially introduced its luxury flagship MPV, the all-new ZEEKR 009, with deliveries starting on July 22, 2024. Boasting an 800V battery electric platform and a Qilin 5C battery, the all-new ZEEKR 009 accelerates from 0 to 100 km/h in 3.9 seconds. It delivers a CLTC range of 702km with its 108kWh battery and a maximum CLTC range of 900km with the optional 140kWh battery.
In July, ZEEKR unveiled its mid-large SUV, the ZEEKR 7X, revealing further insights into its original “Hidden Energy” design. The ZEEKR 7X, with a wheelbase of 2,925mm, a length of 4,825mm, and a width of 1,930mm, exemplifies ZEEKR’s commitment to product excellence.
CEO and CFO Comments
“In the second quarter of 2024, we substantially improved our financial and operational performance, despite facing numerous challenges and economic headwinds. We delivered 54,811 vehicles, marking remarkable 100% year-over-year growth and a 66% increase quarter-over-quarter,” Mr. Andy An, ZEEKR’s chief executive officer commented. “In addition to accelerating deliveries, we successfully launched several new models during the second quarter. The innovative technologies and distinctive design elements embedded in these vehicles have set new industry benchmarks and quickly garnered exceptional market responses. Furthermore, our accelerated global expansion and effective marketing efforts enabled us to extend our customer base across a broader spectrum, driving a surge in sales and enhancing our brand. As we progress through the second half of 2024, our core objectives remain unchanged to continuously invest in research and development, ensuring we stay at the forefront of technological innovation to drive our business forward and deliver long-term value for our shareholders.”
“We are pleased to report another strong quarter, with total revenues reaching RMB20 billion, representing a 58.4% year-over-year increase and 36.0% growth quarter-over-quarter. We made significant strides in optimizing costs while maintaining high-quality delivery standards, contributing to sustainable margin and profitability improvement,” Mr. Jing Yuan, ZEEKR’s chief financial officer added. “Moving forward, we remain dedicated to improving product quality, expanding our market share and propelling the sustainable growth of our business.”
Financial Results for the Second Quarter of 2024
Revenues
Total revenues were RMB20,040.1 million (US$2,757.6 million) for the second quarter of 2024, representing an increase of 58.4% from RMB12,649.7 million for the second quarter of 2023 and an increase of 36.0% from RMB14,736.8 million for the first quarter of 2024.
Revenues from vehicle sales were RMB13,438.2 million (US$1,849.2 million) for the second quarter of 2024, representing an increase of 59.0% from RMB8,450.2 million for the second quarter of 2023, and an increase of 64.4% from RMB8,174.1 million for the first quarter of 2024. The year-over-year increase was due to the increased sales volume of ZEEKR vehicles, partially offset by the lower average selling price due to the different product mix and pricing strategy changes between the two quarters. The quarter-over-quarter increase was mainly attributable to the increased sales volume of ZEEKR vehicles.
Revenues from sales of batteries and other components were RMB5,299.2 million (US$729.2 million) for the second quarter of 2024, representing an increase of 36.1% from RMB3,894.3 million for the second quarter of 2023 and a decrease of 16.1% from RMB6,318.5 million for the first quarter of 2024. The year-over-year increase was mainly driven by higher sales volume of battery packs and electric drives, as well as the growth of battery components sales overseas. The quarter-over-quarter decrease was mainly attributable to the lower sales of battery modules in the domestic market compared with the prior period.
Revenues from research and development service and other services were RMB1,302.6 million (US$179.2 million) for the second quarter of 2024, representing an increase of 326.8% from RMB305.2 million for the second quarter of 2023 and an increase of 433.6% from RMB244.1 million for the first quarter of 2024. The year-over-year and quarter-over-quarter increases were mainly due to the increased sales of research and development services to related parties.
Cost of Revenues and Gross Margin
Cost of revenues was RMB16,590.2 million (US$2,282.9 million) for the second quarter of 2024, representing an increase of 49.5% from RMB11,099.3 million for the second quarter of 2023 and an increase of 27.6% from RMB12,997.4 million for the first quarter of 2024.
Gross profit was RMB3,449.8 million (US$474.7 million) for the second quarter of 2024, representing an increase of 122.5% from RMB1,550.3 million for the second quarter of 2023 and an increase of 98.3% from RMB1,739.4 million for the first quarter of 2024.
Gross margin was 17.2% for the second quarter of 2024, compared with 12.3% for the second quarter of 2023 and 11.8% for the first quarter of 2024. The year-over-year increase and quarter-over-quarter increase were mainly attributable to the increased margins on batteries and other components.
Vehicle margin was 14.2% for the second quarter of 2024, compared with 13.6% for the second quarter of 2023 and 14.0% for the first quarter of 2024. The year-over-year increase was primarily attributed to procurement savings as the cost of auto parts and materials decreased, partly offset by the lower average selling price of ZEEKR vehicles. The quarter-over-quarter increase was mainly due to the change in product mix. Vehicle margin remained generally stable in the second quarter of 2024.
Operating Expenses
Research and development expenses were RMB2,623.5 million (US$361.0 million) for the second quarter of 2024, representing an increase of 89.6% from RMB1,383.5 million for the second quarter of 2023 and an increase of 36.3% from RMB1,925.3 million for the first quarter of 2024. The year-over-year increase was mainly attributable to increased employee compensation due to an increased number of research and development staff and share-based compensation expenses recognized from the share-based awards granted to employees, including a one-off large amount recognized in the second quarter, conditional on the Company’s initial public offering. The quarter-over-quarter increase was mainly attributable to increased employee compensation due to the aforementioned share-based compensation expenses.
Selling, general and administrative expenses were RMB2,604.7 million (US$358.4 million) for the second quarter of 2024, representing an increase of 61.3% from RMB1,614.3 million for the second quarter of 2023 and an increase of 33.5% from RMB1,951.5 million for the first quarter of 2024. The year-over-year increase was mainly due to increased employee compensation due to share-based compensation expenses recognized from the share-based awards granted to employees, including a one-off large amount recognized in the second quarter, conditional on the Company’s initial public offering, and increased expenses related to the expansion of offline channels in China and overseas. The quarter-over-quarter increase was mainly due to increased employee compensation due to the aforementioned share-based compensation expenses.
Loss from Operations
Loss from operations was RMB1,721.0 million (US$236.8 million) for the second quarter of 2024, representing an increase of 25.5% from RMB1,371.0 million for the second quarter of 2023 and a decrease of 17.5% from RMB2,086.9 million for the first quarter of 2024.
Non-GAAP loss from operations, which excludes share-based compensation expenses from loss from operations, was RMB777.1 million (US$106.9 million) for the second quarter of 2024, representing a decrease of 41.7% from RMB1,333.5 million for the second quarter of 2023 and a decrease of 62.7% from RMB2,084.2 million for the first quarter of 2024.
Net Loss and Net Loss Per Share
Net loss was RMB1,808.8 million (US$248.9 million) for the second quarter of 2024, representing an increase of 28.7% from RMB1,405.2 million for the second quarter of 2023 and a decrease of 10.5% from RMB2,022.1 million for the first quarter of 2024.
Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB864.9 million (US$119.0 million) for the second quarter of 2024, representing a decrease of 36.8% from RMB1,367.7 million for the second quarter of 2023 and a decrease of 57.2% from RMB2,019.4 million for the first quarter of 2024.
Net loss attributable to ordinary shareholders of ZEEKR was RMB2,190.2 million (US$301.4 million) for the second quarter of 2024, representing an increase of 47.0% from RMB1,489.7 million for the second quarter of 2023 and an increase of 8.7% from RMB2,014.3 million for the first quarter of 2024.
Non-GAAP net loss attributable to ordinary shareholders of ZEEKR, which excludes share-based compensation expenses from net loss attributable to ordinary shareholders, was RMB1,246.3 million (US$171.5 million) for the second quarter of 2024, representing a decrease of 14.2% from RMB1,452.2 million for the second quarter of 2023 and a decrease of 38.0% from RMB2,011.6 million for the first quarter of 2024.
Basic and diluted net loss per share attributed to ordinary shareholders were RMB0.95 (US$0.13) each for the second quarter of 2024, compared with RMB0.74 each for the second quarter of 2023 and RMB1.01 each for the first quarter of 2024.
Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.54 (US$0.07) each for the second quarter of 2024, compared with RMB0.73 each for the second quarter of 2023 and RMB1.01 each for the first quarter of 2024.
Basic and diluted net loss per American Depositary Share (“ADS[4]”) attributed to ordinary shareholders were RMB9.51 (US$1.31) each for the second quarter of 2024.
Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were RMB5.41 (US$0.75) each for the second quarter of 2024.
[4] Each ADS represents ten ordinary shares.
Balance Sheets
Cash and cash equivalents and restricted cash was RMB8,048.1 million (US$1,107.5 million) as of June 30, 2024.
Conference Call
The Company’s management will host an earnings conference call on Wednesday, August 21, 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/10191577/fd3dea2392
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. Our diverse product lineup spans a range of vehicle models, including shooting brakes, MPVs and upscale sedans, all meticulously designed to cater to the evolving needs of our customer needs.
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 and diluted net loss per ordinary share attributed to ordinary shareholders, non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders, 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 RMB7.2672 to US$1.00, the exchange rate on June 28, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “future,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any duty to update such information, except as required under applicable law.
For Investor Enquiries
ZEEKR
Investor Relations
Email: ir@zeekrlife.com
For Media Enquiries
ZEEKR
Media Relations
Email: Globalcomms@zeekrlife.com
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
As of
December 31
June 30
June 30
2023
2024
2024
RMB
RMB
US$
ASSETS
Current assets:
Cash and cash equivalents
3,260,670
5,495,539
756,211
Restricted cash
844,079
2,552,561
351,244
Notes receivable
487,851
1,502,984
206,817
Accounts receivable
1,104,450
1,206,222
165,982
Inventories
5,228,689
4,267,195
587,186
Amounts due from related parties
7,256,861
7,145,521
983,256
Prepayments and other current assets
2,294,508
3,062,405
421,401
Total current assets
20,477,108
25,232,427
3,472,097
Property, plant and equipment, net
2,914,274
3,320,738
456,949
Intangible assets, net
410,912
554,479
76,299
Land use rights, net
51,755
62,539
8,606
Operating lease right-of-use assets
2,443,545
2,319,631
319,192
Deferred tax assets
86,395
188,174
25,894
Long-term investments
459,794
638,097
87,805
Other non-current assets
273,717
362,830
49,927
Total non-current assets
6,640,392
7,446,488
1,024,672
TOTAL ASSETS
27,117,500
32,678,915
4,496,769
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts in thousands)
As of
December 31
June 30
June 30
2023
2024
2024
RMB
RMB
US$
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term Borrowings
–
30,000
4,128
Accounts payable
4,104,717
4,293,914
590,862
Notes payable
5,504,945
10,662,344
1,467,187
Amounts due to related parties
16,355,902
13,770,683
1,894,909
Income tax payable
108,083
239,300
32,929
Accruals and other current liabilities
6,243,956
8,697,194
1,196,775
Total current liabilities
32,317,603
37,693,435
5,186,790
Long-term borrowings
–
414,680
57,062
Operating lease liabilities, non-current
1,807,159
1,662,850
228,816
Amounts due to related parties, non-current
1,100,000
450,000
61,922
Other non-current liabilities
563,001
505,010
69,492
Deferred tax liability
8,337
8,149
1,121
Total non-current liabilities
3,478,497
3,040,689
418,413
TOTAL LIABILITIES
35,796,100
40,734,124
5,605,203
SHAREHOLDERS’ EQUITY
Ordinary shares
2,584
3,361
462
Convertible preferred shares
362
–
–
Shares subscription receivable
–
(66)
(9)
Additional paid-in capital
11,213,798
15,635,867
2,151,567
Accumulated deficits
(20,865,686)
(25,070,195)
(3,449,774)
Accumulated other comprehensive income
17,555
49,456
6,806
Total ZEEKR shareholders’ deficit
(9,631,387)
(9,381,577)
(1,290,948)
Non-controlling interest
952,787
1,326,368
182,514
TOTAL SHAREHOLDERS’ DEFICIT
(8,678,600)
(8,055,209)
(1,108,434)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
27,117,500
32,678,915
4,496,769
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME
(Amounts in thousands, except share/ADS and per share/ADS data and otherwise noted)
Three Months Ended
June 30
March 31
June 30
June 30
2023
2024
2024
2024
RMB
RMB
RMB
US$
Revenues:
Vehicle sales
8,450,177
8,174,117
13,438,241
1,849,164
Sales of batteries and other components
3,894,307
6,318,535
5,299,171
729,190
Research and development service and
other services
305,190
244,100
1,302,639
179,249
Total revenues
12,649,674
14,736,752
20,040,051
2,757,603
Cost of revenues:
Vehicle sales
(7,300,487)
(7,026,741)
(11,533,020)
(1,586,996)
Sales of batteries and other components
(3,606,782)
(5,883,360)
(4,223,452)
(581,166)
Research and development service and
other services
(192,079)
(87,301)
(833,756)
(114,729)
Total cost of revenues
(11,099,348)
(12,997,402)
(16,590,228)
(2,282,891)
Gross profit
1,550,326
1,739,350
3,449,823
474,712
Operating expenses:
Research and development expenses
(1,383,501)
(1,925,278)
(2,623,471)
(361,002)
Selling, general and administrative
expenses
(1,614,305)
(1,951,530)
(2,604,665)
(358,414)
Other operating income, net
76,488
50,525
57,287
7,883
Total operating expenses
(2,921,318)
(3,826,283)
(5,170,849)
(711,533)
Loss from operations
(1,370,992)
(2,086,933)
(1,721,026)
(236,821)
Interest expense
(87,364)
(10,700)
(23,396)
(3,219)
Interest income
18,512
20,192
42,537
5,853
Other income/(expense), net
27,040
(29,658)
(7,809)
(1,075)
Loss before income tax expense and
share of losses in equity method
investments
(1,412,804)
(2,107,099)
(1,709,694)
(235,262)
Share of income/(loss) in equity method
investments
(11,090)
90,882
85,852
11,814
Income tax expense
18,678
(5,889)
(184,980)
(25,454)
Net loss
(1,405,216)
(2,022,106)
(1,808,822)
(248,902)
Less: income/(loss) attributable to non-
controlling interest
84,481
(7,782)
381,363
52,477
Net loss attributable to shareholders of
ZEEKR
(1,489,697)
(2,014,324)
(2,190,185)
(301,379)
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME (CONTINUED)
(Amounts in thousands, except share/ADS and per share/ADS data and otherwise noted)
Three Months Ended
June 30
March 31
June 30
June 30
2023
2024
2024
2024
RMB
RMB
RMB
US$
Net loss per share attributed to
ordinary shareholders:
Basic and diluted
(0.74)
(1.01)
(0.95)
(0.13)
Weighted average shares used in
calculating net loss per share:
Basic and diluted
2,000,000,000
2,000,000,000
2,301,866,887
2,301,866,887
Net loss per ADS attributed to
ordinary shareholders:
Basic and diluted
–
–
(9.51)
(1.31)
Weighted average ADS used in
calculating net loss per ADS:
Basic and diluted
–
–
230,186,689
230,186,689
Net loss
(1,405,216)
(2,022,106)
(1,808,822)
(248,902)
Other comprehensive income/(loss),
net of tax of nil:
Foreign currency translation
adjustments
48,240
(42,769)
74,670
10,275
Comprehensive loss
(1,356,976)
(2,064,875)
(1,734,152)
(238,627)
Less: comprehensive income/(loss)
attributable to non-controlling interest
84,481
(7,782)
381,363
52,477
Comprehensive loss attributable to
shareholders of ZEEKR
(1,441,457)
(2,057,093)
(2,115,515)
(291,104)
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME
(Amounts in thousands, except share/ADS and per share/ADS data and otherwise noted)
Six Months Ended
June 30
June 30
June 30
2023
2024
2024
RMB
RMB
US$
Revenues:
Vehicle sales
13,175,373
21,612,358
2,973,959
Sales of batteries and other components
7,365,776
11,617,706
1,598,650
Research and development service and other
services
728,933
1,546,739
212,838
Total revenues
21,270,082
34,776,803
4,785,447
Cost of revenues:
Vehicle sales
(11,549,164)
(18,559,761)
(2,553,908)
Sales of batteries and other components
(7,010,648)
(10,106,812)
(1,390,744)
Research and development service and other
services
(477,474)
(921,057)
(126,742)
Total cost of revenues
(19,037,286)
(29,587,630)
(4,071,394)
Gross profit
2,232,796
5,189,173
714,053
Operating expenses:
Research and development expenses
(3,188,554)
(4,548,749)
(625,929)
Selling, general and administrative expenses
(2,898,733)
(4,556,195)
(626,953)
Other operating income, net
134,296
107,812
14,835
Total operating expenses
(5,952,991)
(8,997,132)
(1,238,047)
Loss from operations
(3,720,195)
(3,807,959)
(523,994)
Interest expense
(192,165)
(34,096)
(4,692)
Interest income
41,243
62,729
8,632
Other income/(expense), net
38,147
(37,467)
(5,155)
Loss before income tax expense and share of
losses in equity method investments
(3,832,970)
(3,816,793)
(525,209)
Share of income/(loss) in equity method
investments
(55,240)
176,734
24,319
Income tax expense
17,632
(190,869)
(26,264)
Net loss
(3,870,578)
(3,830,928)
(527,154)
Less: income attributable to non-controlling
interest
13,452
373,581
51,406
Net loss attributable to shareholders of
ZEEKR
(3,884,030)
(4,204,509)
(578,560)
ZEEKR INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME (CONTINUED)
(Amounts in thousands, except share/ADS and per share/ADS data and otherwise noted)
Six Months Ended
June 30
June 30
June 30
2023
2024
2024
RMB
RMB
US$
Net loss per share attributed to ordinary
shareholders:
Basic and diluted
(1.94)
(1.95)
(0.27)
Weighted average shares used in
calculating net loss per share:
Basic and diluted
2,000,000,000
2,150,933,444
2,150,933,444
Net loss per ADS attributed to ordinary
shareholders:
Basic and diluted
–
(19.55)
(2.69)
Weighted average ADS used in calculating
net loss per ADS:
Basic and diluted
–
215,093,344
215,093,344
Net loss
(3,870,578)
(3,830,928)
(527,154)
Other comprehensive income, net of tax of
nil:
Foreign currency translation adjustments
46,321
31,901
4,390
Comprehensive loss
(3,824,257)
(3,799,027)
(522,764)
Less: comprehensive income attributable to
non-controlling interest
13,452
373,581
51,406
Comprehensive loss attributable to
shareholders of ZEEKR
(3,837,709)
(4,172,608)
(574,170)
ZEEKR INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(Amounts in thousands, except share/ADS and per share/ADS data and otherwise noted)
Three Months Ended
June 30
March 31
June 30
June 30
2023
2024
2024
2024
RMB
RMB
RMB
US$
Loss from operations
(1,370,992)
(2,086,933)
(1,721,026)
(236,821)
Share-based compensation expenses
37,471
2,734
943,921
129,888
Non-GAAP loss from operations
(1,333,521)
(2,084,199)
(777,105)
(106,933)
Net loss
(1,405,216)
(2,022,106)
(1,808,822)
(248,902)
Share-based compensation expenses
37,471
2,734
943,921
129,888
Non-GAAP net loss
(1,367,745)
(2,019,372)
(864,901)
(119,014)
Net loss attributable to ordinary
shareholders
(1,489,697)
(2,014,324)
(2,190,185)
(301,379)
Share-based compensation expenses
37,471
2,734
943,921
129,888
Non-GAAP net loss attributable to
ordinary shareholders of ZEEKR
(1,452,226)
(2,011,590)
(1,246,264)
(171,491)
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
2,301,866,887
2,301,866,887
Non-GAAP net loss per ordinary
share attributed to ordinary
shareholders
Basic and diluted
(0.73)
(1.01)
(0.54)
(0.07)
Weighted average number of ADS
used in calculating Non-GAAP net
loss per ADS
Basic and diluted
–
–
230,186,689
230,186,689
Non-GAAP net loss per ADS
attributed to ordinary shareholders
Basic and diluted
–
–
(5.41)
(0.75)
ZEEKR INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(Amounts in thousands, except share and per share data and otherwise noted)
Six Months Ended
June 30
June 30
June 30
2023
2024
2024
RMB
RMB
US$
Loss from operations
(3,720,195)
(3,807,959)
(523,994)
Share-based compensation expenses
70,199
946,655
130,264
Non-GAAP loss from operations
(3,649,996)
(2,861,304)
(393,730)
Net loss
(3,870,578)
(3,830,928)
(527,154)
Share-based compensation expenses
70,199
946,655
130,264
Non-GAAP net loss
(3,800,379)
(2,884,273)
(396,890)
Net loss attributable to ordinary shareholders
(3,884,030)
(4,204,509)
(578,560)
Share-based compensation expenses
70,199
946,655
130,264
Non-GAAP net loss attributable to
ordinary shareholders of ZEEKR
(3,813,831)
(3,257,854)
(448,296)
Weighted average number of ordinary
shares used in calculating Non-GAAP net
loss per share
Basic and diluted
2,000,000,000
2,150,933,444
2,150,933,444
Non-GAAP net loss per ordinary share
attributed to ordinary shareholders
Basic and diluted
(1.91)
(1.51)
(0.21)
Weighted average number of ADS used in
calculating Non-GAAP net loss per ADS
Basic and diluted
–
215,093,344
215,093,344
Non-GAAP net loss per ADS attributed to
ordinary shareholders
Basic and diluted
–
(15.15)
(2.08)
View original content:https://www.prnewswire.com/news-releases/zeekr-reports-second-quarter-2024-unaudited-financial-results-302227070.html
SOURCE ZEEKR Intelligent Technology Holding Limited
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Wenge AI Launches ScienceOra on Tencent WorkBuddy, Making Specialized Research AI More Accessible
Published
60 minutes agoon
October 27, 2026By
BEIJING, Oct. 27, 2026 /PRNewswire/ — Wenge AI launched ScienceOra, its research and decision-support platform, on Tencent WorkBuddy, making more than 30 specialist research agents and skills available to users. The initial offering supports literature analysis, hypothesis development, study design, modeling and simulation, validation, and research communication. Users can access ScienceOra through WorkBuddy’s app discovery section for support across the research process, from exploring a new field to conducting advanced research and making informed scientific decisions.
ScienceOra is powered by the ScienceOne Scientific Foundation Model, which was developed as part of a Chinese Academy of Sciences (CAS)-coordinated initiative. Building on that foundation and on Wenge AI’s long-standing work in scientific data, research tools, and decision AI, ScienceOra brings specialized research knowledge, tools, and agent capabilities into one system, extending AI from knowledge retrieval and content generation to the execution of complex research tasks and support for scientific decision-making.
Covering core scenarios across disciplines
Scientific research involves a great deal of specialized work at every stage, from reviewing the literature and formulating hypotheses to designing experiments, analyzing data, validating findings, and publishing papers. Researchers everywhere face the same questions: how to spot valuable leads in a vast body of literature, how to synthesize scientific evidence and carry complex projects forward, and how to make sound scientific judgments between competing options. ScienceOra on WorkBuddy addresses both general research needs and discipline-specific work, organized around three levels of support — getting started, advanced research, and expert decision-making — for users across disciplines and at different stages of their work.
Getting started in research
At the first level, ScienceOra helps researchers turn a mass of information into a structured understanding of a field. Its agents cover academic literature research, comparative literature analysis, in-depth paper analysis, and literature review mapping; its skills cover literature search, multi-paper comparison, and structured close reading. Together they help researchers trace how a field has developed, compare the core arguments and methods of different studies, and identify research gaps. Beyond finding and summarizing literature, the AI can examine the evidence, conclusions, and limitations of different studies around a specific scientific question, offering reference points for further work.
Advanced research
For advanced research, ScienceOra helps researchers move from analyzing existing knowledge to carrying out specialized tasks. It supports evidence synthesis, study design, and domain-specific data analysis in areas such as systematic reviews and meta-analyses, molecular biology and multi-omics, and drug developability assessment.
In drug development, for example, researchers assessing a candidate molecule’s developability can work with specialist agents to plan experiments, molecular modeling, and simulations, then draw on experimental data to explore validation strategies and opportunities for optimization. ScienceOra also offers manuscript editing, manuscript formatting to meet journal requirements, and research slide deck generation, helping researchers organize, communicate, and present their findings.
Expert decisions
To support expert decision-making, ScienceOra helps researchers weigh scientific evidence and evaluate competing options in rice breeding, materials science, drug development, and research evaluation. Its agents include the Yuandao Siyuan AI breeding scientist, a materials characterization and validation scientist, and an alloy thermodynamics and phase-field simulation scientist.
Yuandao Siyuan is a specialized ScienceOra application for rice breeding. The agent is built on the Yuandao Siyuan intelligent breeding platform, jointly developed by the Hunan Academy of Agricultural Sciences, the Institute of Automation of the Chinese Academy of Sciences, and Wenge AI, and launched this month at the Yuelu Mountain Laboratory in Changsha. The name pays tribute to hybrid-rice pioneer Yuan Longping and evokes the Chinese saying “When drinking water, remember its source.” Drawing on dedicated breeding resources and a knowledge graph, it supports searches for variety approval records and germplasm resources, pedigree tracing, and the tracing of research literature to its sources.
In new materials development, researchers can draw on X-ray diffraction (XRD) phase analysis, structural characterization, and published evidence to compare candidate materials in terms of properties, structural stability, fabrication costs, and potential risks, informing materials selection and subsequent experimental validation.
For research evaluation, a general-purpose reviewer agent and a range of peer-review simulation skills help assess the quality of a study, including its originality, performance against existing benchmarks, methodological rigor, and experimental design. These capabilities help researchers efficiently identify key scientific questions and promising avenues for innovation, supporting the choice of research topics and the evaluation of technical approaches.
Extending decision AI into research workflows
By combining domain knowledge, scientific data, research tools, and agent capabilities, ScienceOra extends research AI beyond question answering and content generation to complex research tasks and decision support. This brings AI into day-to-day research workflows, helping researchers work more efficiently.
This integration with Tencent WorkBuddy is another step in Wenge AI’s effort to make specialized research AI available to more users. Through the WorkBuddy app ecosystem, ScienceOra brings its agents and skills into everyday workflows, giving researchers, university faculty and students, and other learners more convenient access to research AI tools.
Going forward, Wenge AI will continue to expand ScienceOra’s research capabilities and deepen the integration of decision AI into research settings, making scientific knowledge easier to access, research more efficient, and professional decisions better grounded in evidence.
ScienceOra Website: https://www.scienceone.ai/portal/
Website: https://www.wenge.com/
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/wenge-ai-launches-scienceora-on-tencent-workbuddy-making-specialized-research-ai-more-accessible-302920264.html
SOURCE Wenge AI
Technology
Visa and Marina Bay Precinct Partners – Marina Bay Sands, UOB and Singapore Tourism Board – Present ‘A Moment to Savour’, Bringing International Restaurant Collaborations to Singapore
Published
1 hour agoon
October 27, 2026By
A series of restaurant collaborations across Marina Bay will bring together celebrated culinary talents and restaurants from Singapore and around the world from November 2026 through March 2027
SINGAPORE, Oct. 27, 2026 /PRNewswire/ — Visa and the Marina Bay precinct partners – Marina Bay Sands, UOB and Singapore Tourism Board (STB) – today announced ‘A Moment to Savour’, a new premium dining programme showcasing Singapore’s vibrant culinary scene through an exclusive series of restaurant collaborations. Launching under the Visa Destinations platform, the collaborations will run from November 2026 to March 2027, pairing renowned restaurants and chefs, from both Marina Bay and around the world, to create distinctive, limited-time dining experiences in the Marina Bay area.
The programme aims to showcase Singapore’s position as a leading global gastronomy hub, while creating compelling new culinary experiences for both visitors and locals to savour, reflecting the city’s diverse and world-class food scene. This experience will be offered to Visa cardholders globally, with pre-sales available to all UOB Visa cardholders and Visa Infinite cardholders.
‘A Moment to Savour’ is launching in Marina Bay as the precinct brings together the full spectrum of Singapore’s visitor appeal – from iconic attractions and world-class dining to premium shopping and entertainment, making it a natural setting to showcase distinctive culinary experiences that can be enjoyed as part of a broader destination journey.
The series will make its debut at Marina Bay Sands with an exclusive two-night dinner, underscoring the integrated resort’s position as a leading culinary destination and platform for world-class collaborations. The experience will bring together the team from one-Michelin-starred Waku Ghin and two-Michelin-starred MOSU Seoul, helmed by Chef Anh Sung Jae, who also served as a head judge on Netflix’s Culinary Class Wars.
The full list of dining collaborations over the period include:
November 2026
Waku Ghin (Marina Bay Sands) and MOSU Seoul, Chef Anh Sung-Jae
December 2026
Jin Ting Wan 金蜓湾 (Marina Bay Sands), Chef Albert Li and Jing Xi Hui (菁禧荟), Chef Du Jianqing
黑珍珠 The Black Pearl (Odeon 333), Chef Dee Chan with seven guest chefs from leading restaurants across China (16-hands collaboration)
Labyrinth (Esplanade Mall), Chef Han Li Guang and Masque, Chef Varun Totlani
January 2027
Saint Pierre (One Fullerton), Chef Emmanuel Stroobant and Taian Table, Chef Christiaan Stoop
February 2027
Peach Blossoms (PARKROYAL COLLECTION, Marina Bay, Singapore), Chef Edward Chong with
Nusara, Chef Thitid “Ton” Tassanakajohn and Asia’s Best Pastry Chef 2025, Chef Dej Kewkacha (six-hands collaboration)
March 2027
JAAN by Kirk Westaway (Swissôtel The Stamford Singapore), Chef Kirk Westaway and NOBUO, Chef Nobu Lee
Odette (National Gallery Singapore), Chef Julien Royer and L’air du Temps, Chef San Degeimbre
1887 by André (Raffles Singapore), Chef André Chiang and visiting chef to be confirmed
UOB Visa cardholders in Singapore and across Southeast Asia will receive exclusive priority presale access to all ‘A Moment to Savour’ dining experiences, followed by a presale for all Visa Infinite cards and general sales for Visa cardholders globally. Bookings for the November and December sessions open from 28 October 2026, with limited seats that are subject to availability.
UOB Reserve and Visa Infinite Presale: 28 October 2026, 10am to 4pmUOB Visa Cards Presale: 28 October 2026, 6pm to 29 October 2026, 10amAll global Visa Infinite Cards Presale: 29 October 2026, 12pm to 30 October 2026, 12pmAll global Visa Cards: From 30 October 2026, 2pm onwards
All timings are in SGT.
With exclusive privileges across hotels, dining and attractions as part of the Marina Bay precinct partnership, UOB cardholders can pair their moments to savour with exceptional entertainment and destination propositions only available in the Bay, extending their adventures beyond the dining table to create unforgettable experiences in the precinct. As Visa’s largest card issuer in Southeast Asia[1], this latest partnership also reinforces UOB’s leadership position in the lifestyle and dining space, while leveraging the Bank’s extensive presence and deep customer base in the region especially among the affluent, to drive inbound tourism into Singapore.
“We recently announced the launch of Visa Destinations Singapore, a platform designed to bring together curated experiences and privileges that help visitors discover more of what the city has to offer,” said Adeline Kim, Group Country Manager for Regional Southeast Asia & SVP, Global Clients, Asia Pacific, Visa. “Presented as part of the initiatives under Visa Destinations, ‘A Moment to Savour’ reflects the importance of creating meaningful experiences around the passions that drive travel. With dining continuing to be a significant area of traveller spend and a powerful reason for people to explore a destination, this programme brings exceptional local and international culinary talent together to celebrate the flavours that make Singapore distinctive and strengthen its appeal as one of the world’s leading culinary destinations.”
“Marina Bay’s potential lies in the collective strength of the partners that contribute to its vibrancy. Through our continued partnership with the Singapore Tourism Board and UOB, and with Visa now joining us to elevate the Bay’s culinary offering, ‘A Moment to Savour’ marks another meaningful step in our shared ambition for the precinct,” said Irene Lin, Senior Vice President and Chief Marketing Officer, Resort Marketing at Marina Bay Sands. “By bringing celebrated local and international culinary talent to the Bay, we hope to create distinctive experiences that inspire visitors to discover Singapore’s dynamic dining scene, while strengthening Marina Bay’s position as a leading lifestyle destination on the global stage.”
“‘A Moment to Savour’ is the latest centrepiece of UOB’s feast of dining propositions, with our cardholders first in line to these eclectic and unprecedented experiences from the pinnacle of the gastronomic world. This collaboration with Visa not only reinforces UOB’s regional leadership in the lifestyle space, it also builds on the longstanding success of the Marina Bay precinct partnership to cement Singapore’s reputation as a seminal tourist destination globally. The programme also showcases our ability to bring together like-minded partners in collaborations that synergise the strengths of all parties to create unique and exceptional experiences for our more than eight million customers that money cannot buy,” said Jacquelyn Tan, Head, Group Personal Financial Services, UOB.
“Singapore has long been celebrated for its extraordinary food culture, and ‘A Moment to Savour’ is a wonderful reflection of what makes our culinary scene truly world-class – the ability to bring together the best of local and international talent in one destination. Programmes like this not only create memorable experiences for visitors and locals but also reinforce Singapore’s position as a destination where the world’s finest culinary experiences converge. We are delighted to partner with Visa, together with our precinct partners Marina Bay Sands and UOB to bring this series to life, and look forward to welcoming food lovers from around the world to the Marina Bay precinct,” said Kenneth Lim, Assistant Chief Executive, Marketing Group, Singapore Tourism Board.
For reservations and more details, visit destinations.visa.com/singapore. Details for the 2027 chef collaborations will be announced at a later date.
[1] Largest card issuer by total billings
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About UOB
UOB is a leading Asian bank with a global network in Southeast Asia, Asia Pacific, Europe and North America. Operating through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, we have a global network of about 430 branches and offices in 19 markets.
Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For more than nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of education, children and art, doing right by its communities and stakeholders.
About Marina Bay Sands Pte Ltd
Since its opening in 2010, Marina Bay Sands has stood as an architectural marvel and the crown jewel in Singapore’s skyline. Home to the world’s most spectacular rooftop infinity pool and approximately 1,850 rooms and suites, the integrated resort offers exceptional dining, shopping, meeting and entertainment choices, complete with a year-round calendar of signature events.
Marina Bay Sands is dedicated to being a good corporate citizen to serve its people, communities and environment. It drives social impact through its community engagement programme, Sands Cares, and leads environmental stewardship through its global sustainability programme, Sands ECO360.
For more information, please visit www.marinabaysands.com.
About the Singapore Tourism Board
The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.
More: www.stb.gov.sg or www.visitsingapore.com | Follow us: STB LinkedIn, STB Facebook or STB Instagram
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SOURCE Visa
Technology
KaarTech Introduces KEOS to Help Enterprises Scale AI Across Business Operations
Published
1 hour agoon
October 27, 2026By
KEOS combines enterprise intelligence and governed AI execution across four offerings: AI-led Transformation, Enterprise AI, Phygital and AI For Growth.
CHENNAI, India, Oct. 27, 2026 /PRNewswire/ — KaarTech today announced KEOS, an operating layer for enterprise intelligence designed to help organisations move beyond isolated AI initiatives and embed intelligence across their business. KEOS connects enterprise systems, knowledge and operational context to help organisations make informed decisions and deploy governed AI agents at scale.
As AI adoption expands, enterprises face a common challenge: disconnected systems and fragmented business knowledge prevent AI from understanding how the organisation works. KEOS addresses this by building a shared understanding of enterprise processes, data and assets, providing the context AI needs to support decisions and execute actions within defined controls.
KEOS brings together enterprise discovery, an ontology and knowledge graph, and a Context Lake that combines enterprise knowledge with operational memory. Together, these capabilities form an Enterprise Digital Twin, a living representation of how the organisation operates. An Agent Factory and Enterprise Agent OS build on this foundation to create, orchestrate and operate governed AI agents.
Ratnakumar Nagarajan, CAIO, KaarTech, said:
“Each part of the business has different requirements, but all need reliable context and clear controls. KEOS provides a common architecture that teams can extend to their domain. They can start with a defined use case, validate how agents perform and expand as they establish value.”
KEOS delivers this vision through four offerings:
AI-led Transformation: Embeds specialised AI agents across the SAP Activate lifecycle, from landscape discovery and AI readiness assessment to migration, testing and ongoing operations. The offering helps organisations accelerate transformation while maintaining visibility and control over agent activity.Enterprise AI: Brings enterprise data, AI infrastructure, security and governance together to support contextual AI across applications and operations. It helps organisations establish AI foundations aligned with their sovereignty, deployment and data requirements.Phygital: Connects physical assets and field operations with AI through sensor, operational and enterprise data. Applications include predictive maintenance, digital twins and connected-worker copilots that support maintenance and safety decisions.AI For Growth: Applies AI across marketing, sales and commercial operations, including forecasting, pricing, customer expansion and aftermarket services. It helps organisations connect fragmented workflows and use business intelligence to identify revenue opportunities and improve execution.
KaarTech supports KEOS adoption through its Forward Deployed Engineer (FDE) model, with more than 500 FDEs as of October 2026. The company plans to transition 100% of its employees into FDE roles by March 2027, extending this delivery model across its workforce.
Across these offerings, KEOS connects information from enterprise applications such as ERP, CRM and supply chain systems with operational technology, engineering models, documents and external intelligence. This shared business context allows organisations to extend AI across use cases without rebuilding enterprise understanding for each application.
Governance forms part of the KEOS architecture through a common control plane covering identity, access policies, data privacy, auditability and human approval. Evaluation and observability capabilities support oversight of AI behaviour and operating costs, helping organisations define what AI can access, which actions it can take and when people must remain involved.
Organisations can adopt KEOS within one business domain, establish enterprise understanding and initial governed agents, and then expand across additional workflows. Deployment options include customer-cloud environments, isolated air-gapped environments and region-pinned SaaS, selected according to customer policies and data requirements.
About KaarTech
KaarTech is a global AI-led enterprise transformation firm with more than two decades of experience helping organisations modernise their businesses. With over 3,000 professionals across 15 global locations, KaarTech has delivered more than 3,300 projects for 450+ customers across North America, Europe, APAC and the Middle East. The company helps enterprises embed AI into business processes, improve operations and unlock new growth opportunities, combining enterprise expertise, AI innovation and proven delivery capabilities.
For more information, visit www.kaartech.com.
Contact Details: Shrilaxmi N M | Email: nshrilaxmi@kaartech.com
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/kaartech-introduces-keos-to-help-enterprises-scale-ai-across-business-operations-302920284.html
Wenge AI Launches ScienceOra on Tencent WorkBuddy, Making Specialized Research AI More Accessible
Visa and Marina Bay Precinct Partners – Marina Bay Sands, UOB and Singapore Tourism Board – Present ‘A Moment to Savour’, Bringing International Restaurant Collaborations to Singapore
KaarTech Introduces KEOS to Help Enterprises Scale AI Across Business Operations
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