Connect with us

Technology

Zeekr Group Reports First Quarter 2025 Unaudited Financial Results

Published

on

HANGZHOU, China, May 15, 2025 /PRNewswire/ — ZEEKR Intelligent Technology Holding Limited (“Zeekr Group” or the “Company”) (NYSE: ZK), the world’s leading premium new energy vehicle group, today announced its unaudited financial results for the first quarter ended March 31, 2025[1].

Operating Highlights for the First Quarter of 2025

Total vehicle deliveries were 114,011 units for the first quarter of 2025, representing a 21.1% year-over-year increase. The Zeekr brand delivered 41,403 vehicles, an increase of 25.2% year-over-year. Meanwhile, the Lynk & Co brand delivered 72,608 vehicles, recording growth of 18.9% year-over-year, with 52.4% of deliveries coming from NEV models.

Deliveries

2025 Q1

2024 Q4

2024 Q3

2024 Q2

114,011

169,088

124,606

119,755

Deliveries

2024 Q1

2023 Q4

2023 Q3

2023 Q2

94,115

120,114

94,151

72,276

Financial Highlights for the First Quarter of 2025

Vehicle sales were RMB19,096 million (US$2,631 million)[2] for the first quarter of 2025, representing an increase of 16.1% from the first quarter of 2024 and a decrease of 38.4% from the fourth quarter of 2024.Vehicle margin[3] was 16.5% for the first quarter of 2025, compared with 13.1% for the first quarter of 2024 and 14.3% for the fourth quarter of 2024.Total revenues were RMB22,019 million (US$3,034 million) for the first quarter of 2025, representing an increase of 1.1% from the first quarter of 2024 and a decrease of 37.8% from the fourth quarter of 2024.Gross profit was RMB4,213 million (US$580 million) for the first quarter of 2025, representing an increase of 18.8% from the first quarter of 2024 and a decrease of 33.8% from the fourth quarter of 2024.Gross margin was 19.1% for the first quarter of 2025, compared with 16.3% for the first quarter of 2024 and 18.0% for the fourth quarter of 2024.Loss from operations was RMB1,259 million (US$174 million) for the first quarter of 2025, representing a decrease of 25.7% from the first quarter of 2024 and an increase of 16.3% from the fourth quarter of 2024. Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP)[4] was RMB1,136 million (US$157 million) for the first quarter of 2025, representing a decrease of 32.8% from the first quarter of 2024 and an increase of 14.3% from the fourth quarter of 2024.Net loss was RMB763 million (US$105 million) for the first quarter of 2025, representing a decrease of 60.2% from the first quarter of 2024 and an increase of 21.3% from the fourth quarter of 2024. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB640 million (US$88 million) for the first quarter of 2025, representing a decrease of 66.5% from the first quarter of 2024 and an increase of 18.5% from the fourth quarter of 2024.

[1] All disclosed data (including historical periods) are recast to reflect common-control accounting treatment related to Lynk & Co’s acquisition.

[2] All conversions from Renminbi(“RMB”) to U.S. dollars (“US$”) are made at an exchange rate of RMB7.2567 to US$1.00, set forth in the H.10 statistical release of the Federal Reserve Board on March 31, 2025.

[3] Vehicle margin is the margin of vehicle sales, which is calculated based on revenues and cost of revenues derived from vehicle sales only.

[4] 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 for the First Quarter of 2025

(in RMB millions, except for percentages)

2025 Q1

2024 Q4

2024 Q1

% Change i 

YoY

QoQ

Vehicle sales

19,096

31,015

16,450

16.1 %

(38.4) %

 – Zeekr

9,987

19,302

8,174

22.2 %

(48.3) %

 – Lynk & Co

9,109

11,713

8,276

10.1 %

(22.2) %

Vehicle margin

16.5 %

14.3 %

13.1 %

3.4pts

2.2pts

 – Zeekr

21.2 %

17.3 %

14.4 %

6.8pts

3.9pts

 – Lynk & Co

11.4 %

9.3 %

11.8 %

(0.4)pts

2.1pts

Total revenues

22,019

35,377

21,781

1.1 %

(37.8) %

Gross profit

4,213

6,365

3,545

18.8 %

(33.8) %

Gross margin

19.1 %

18.0 %

16.3 %

2.8pts

1.1pts

Loss from operations

(1,259)

(1,083)

(1,694)

(25.7) %

16.3 %

Non-GAAP loss from operations

(1,136)

(994)

(1,691)

(32.8) %

14.3 %

Net loss

(763)

(629)

(1,915)

(60.2) %

21.3 %

Non-GAAP net loss

(640)

(540)

(1,912)

(66.5) %

18.5 %


i
Except for vehicle margin and gross margin, absolute changes instead of percentage changes are presented.

Recent Developments

Delivery Update

In April, Zeekr Group delivered a total of 41,316 vehicles across its Zeekr and Lynk & Co brands, marking a 1.5% increase compared to the previous month. This achievement was made possible by the trust and support of over 1.9 million users. Specifically, the Zeekr brand delivered 13,727 vehicles, while Lynk & Co brand delivered 27,589 vehicles.

New Model Launches

The Zeekr 7GT, the brand’s second shooting brake, was launched in China on April 15, 2025. Equipped with advanced silicon carbide-powered e-motors, the vehicle achieves 0-100 km/h acceleration in merely 2.95 seconds under rolling start conditions. Exceptional performance and world-class safety features position the Zeekr 7GT for a strong showing in global markets.

Zeekr Group also unveiled its flagship luxury SUV, the Zeekr 9X, at the Shanghai Auto Show. As the first hybrid model under the Zeekr brand, the Zeekr 9X sets new benchmarks in design, performance, and electrification, marking a major leap forward for the brand. This groundbreaking model is slated for a global launch in the third quarter of 2025.

On April 28, the Lynk & Co brand commenced deliveries of the Lynk & Co 900, a large six-seater family SUV. Built on the powerful SPA Evo platform, the top-tier variant is equipped with the G-Pilot H7 package, featuring NVIDIA’s DRIVE AGX Thor computing platform with an industry-leading 700 TOPS of processing power. With its expansive interior, cutting-edge technology, and thrilling performance, the model has already garnered over 40,000 pre-orders since its debut in December.

CEO and CFO Comments

“We achieved a major milestone during the first quarter with the full integration of Zeekr and Lynk & Co, which expanded our global user base to over 1.9 million,” said Mr. Andy An, Zeekr Group’s Chief Executive Officer. “The two brands’ initial technological consolidation has already boosted profitability through optimized R&D and shared platforms. As we accelerate into our next growth phase, we will continue to redefine premium mobility through technology-driven experiences and luxury service, strengthening our position as the world’s leading premium new energy vehicle group.”

Mr. Jing Yuan, Zeekr Group’s Chief Financial Officer, added, “In the first quarter of 2025, enhanced platform synergies and disciplined supply chain management drove record profitability, with our overall vehicle margin reaching 16.5% and the Zeekr brand’s margin rising to an unprecedented 21.2%. Looking ahead, we will remain laser-focused on deepening resource integration and unlocking greater synergistic value to deliver enhanced returns for our shareholders and build enduring value.”

Financial Results for the First Quarter of 2025

Revenues

Total revenues were RMB22,019 million (US$3,034 million) for the first quarter of 2025, representing an increase of 1.1% from RMB21,781 million for the first quarter of 2024 and a decrease of 37.8% from RMB35,377 million for the fourth quarter of 2024.Revenues from vehicle sales were RMB19,096 million (US$2,631 million) for the first quarter of 2025, representing an increase of 16.1% from RMB16,450 million for the first quarter of 2024, and a decrease of 38.4% from RMB31,015 million for the fourth quarter of 2024. The year-over-year increase was attributable to the increase in new model delivery volume, partially offset by the lower average selling price due to changes in product mix and pricing strategy between the two quarters. The quarter-over-quarter decrease was mainly attributable to a decrease in delivery volume, which was affected by seasonal factors.Revenues from other sales and services were RMB2,923 million (US$403 million) for the first quarter of 2025, representing a decrease of 45.2% from RMB5,331 million for the first quarter of 2024 and a decrease of 33.0% from RMB4,362 million for the fourth quarter of 2024. The year-over-year decrease was mainly due to the decreased sales volume and unit price of battery packs and electric drives. The quarter-over-quarter decrease was mainly due to a decrease in sales of R&D services to our related parties and reduced OEM production volumes at Lynk & Co’s manufacturing facilities in the first quarter of 2025.

Cost of Revenues and Gross Margin

Cost of revenues was RMB17,806 million (US$2,454 million) for the first quarter of 2025, representing a decrease of 2.4% from RMB18,236 million for the first quarter of 2024 and a decrease of 38.6% from RMB29,012 million for the fourth quarter of 2024. The slight year-over-year decrease was primarily attributable to the ongoing vehicle cost-saving initiatives, partially offset by increased vehicle deliveries, as well as reductions stemming from lower sales of battery packs and other components. The quarter-over-quarter decrease was mainly due to the reduced vehicle delivery volume combined with sustained vehicle cost-saving initiatives.Gross profit was RMB4,213 million (US$580 million) for the first quarter of 2025, representing an increase of 18.8% from RMB3,545 million for the first quarter of 2024 and a decrease of 33.8% from RMB6,365 million for the fourth quarter of 2024.Gross margin was 19.1% for the first quarter of 2025, compared with 16.3% for the first quarter of 2024 and 18.0% for the fourth quarter of 2024. Vehicle margin was 16.5% for the first quarter of 2025, compared with 13.1% for the first quarter of 2024 and 14.3% for the fourth quarter of 2024. The year-over-year and quarter-over-quarter increases were primarily attributed to sustained cost-saving initiatives, partly offset by the lower average selling price of vehicles.

Operating Expenses

Research and development expenses were RMB2,908 million (US$401 million) for the first quarter of 2025, representing an increase of 25.0% from RMB2,326 million for the first quarter of 2024 and a decrease of 25.6% from RMB3,910 million for the fourth quarter of 2024. The year-over-year increase was mainly attributable to incremental costs associated with the development of our new vehicle platform. The quarter-over-quarter decrease was mainly driven by accelerated progressing of R&D projects in Q4 2024 to align with the 2025 product launch timelines.Selling, general and administrative expenses were RMB2,645 million (US$364 million) for the first quarter of 2025, representing a decrease of 9.2% from RMB2,913 million for the first quarter of 2024 and a decrease of 35.8% from RMB4,123 million for the fourth quarter of 2024. The year-over-year and quarter-over-quarter decreases were mainly attributable to higher marketing and advertising expenses to support new vehicle model launches in Q1 2024 and Q4 2024, as well as stringent cost discipline implemented under the Company’s 2025 efficiency enhancement program.

Loss from Operations

Loss from operations was RMB1,259 million (US$174 million) for the first quarter of 2025, representing a decrease of 25.7% from RMB1,694 million for the first quarter of 2024 and an increase of 16.3% from RMB1,083 million for the fourth quarter of 2024.Non-GAAP loss from operations, which excludes share-based compensation expenses from loss from operations, was RMB1,136 million (US$157 million) for the first quarter of 2025, representing a decrease of 32.8% from RMB1,691 million for the first quarter of 2024 and an increase of 14.3% from RMB994 million for the fourth quarter of 2024.

Net Loss and Net Loss Per Share

Net loss was RMB763 million (US$105 million) for the first quarter of 2025, representing a decrease of 60.2% from RMB1,915 million for the first quarter of 2024 and an increase of 21.3% from RMB629 million for the fourth quarter of 2024.Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB640 million (US$88 million) for the first quarter of 2025, representing a decrease of 66.5% from RMB1,912 million for the first quarter of 2024 and an increase of 18.5% from RMB540 million for the fourth quarter of 2024.Net loss attributable to ordinary shareholders of Zeekr Group was RMB718 million (US$99 million) for the first quarter of 2025, representing a decrease of 63.8% from RMB1,982 million for the first quarter of 2024 and a decrease of 18.1% from RMB877 million for the fourth quarter of 2024.Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group, which excludes share-based compensation expenses from net loss attributable to ordinary shareholders, was RMB595 million (US$82 million) for the first quarter of 2025, representing a decrease of 69.9% from RMB1,979 million for the first quarter of 2024 and a decrease of 24.5% from RMB788 million for the fourth quarter of 2024.Basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.28 (US$0.04) for the first quarter of 2025, compared with RMB0.99 each for the first quarter of 2024 and RMB0.34 each for the fourth quarter of 2024.Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.23 (US$0.03) for the first quarter of 2025, compared with RMB0.99 each for the first quarter of 2024 and RMB0.31 each for the fourth quarter of 2024.Basic and diluted net loss per American Depositary Share (“ADS[5]”) attributed to ordinary shareholders were both RMB2.81 (US$0.39) for the first quarter of 2025, compared with RMB3.44 each for the fourth quarter of 2024.Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were both RMB2.33 (US$0.32) for the first quarter of 2025, compared with RMB3.09 each for the fourth quarter of 2024.

[5] Each ADS represents ten ordinary shares.

Balance Sheets

Cash and cash equivalents and restricted cash was RMB9,898 million (US$1,364 million) as of March 31, 2025.

Conference Call

The Company’s management will host an earnings conference call on Thursday, May 15, 2025, 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/10198801/feeb731fe9

A live webcast of the conference call will be available on the Company’s investor relations website at https://ir.zeekrgroup.com.

About Zeekr Group

Zeekr Group, headquartered in Zhejiang, China, is the world’s leading premium new energy vehicle group from Geely Holding Group. With two brands, Lynk & Co and Zeekr, Zeekr Group aims to create a fully integrated user ecosystem with innovation as a standard. Utilizing its state-of-the-art facilities and world-class expertise, Zeekr Group is developing its own software systems, e-powertrain, and electric vehicle supply chain. Zeekr Group’s values are equality, diversity, and sustainability. Its ambition is to become a true global new energy mobility solution provider.

For more information, please visit https://ir.zeekrgroup.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 RMB7.2567 to US$1.00, the exchange rate on March 31, 2025, 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.

Investor Relations Contact

In China:
ZEEKR Intelligent Technology Holding Limited
Investor Relations
Email: ir@zeekrlife.com

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: Zeekr@thepiacentegroup.com

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: Zeekr@thepiacentegroup.com

Media Contact

Email: Globalcomms@zeekrgroup.com

 

 

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in million)

As of

December 31

March 31

March 31

2024

2025

2025

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

9,897

7,496

1,033

Restricted cash

1,491

2,402

331

Notes receivable

12,268

5,370

740

Accounts receivable

2,344

2,447

337

Inventories

10,388

10,255

1,413

Amounts due from related parties

9,821

9,737

1,342

Prepayments and other current assets

4,654

6,319

871

Total current assets

50,863

44,026

6,067

Property, plant and equipment, net

10,984

10,653

1,468

Intangible assets, net

1,346

1,380

190

Land use rights, net

506

503

69

Operating lease right-of-use assets

3,008

2,852

393

Deferred tax assets

340

349

48

Long-term investments

688

816

112

Other non-current assets

477

532

74

Total non-current assets

17,349

17,085

2,354

TOTAL ASSETS

68,212

61,111

8,421

 

 

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in million)

As of

December 31

March 31

March 31

2024

2025

2025

RMB

RMB

US$

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term borrowings

1,353

9,426

1,299

Accounts payable

15,899

15,352

2,116

Notes payable and others

23,391

18,468

2,545

Amounts due to related parties

19,099

17,934

2,471

Income tax payable

98

162

22

Accruals and other current liabilities

15,455

13,084

1,803

Total current liabilities

75,295

74,426

10,256

Long-term borrowings

2,727

6,553

903

Operating lease liabilities, non-current

2,137

2,333

321

Other non-current liabilities

2,191

2,712

374

Deferred tax liability

57

58

8

Total non-current liabilities

7,112

11,656

1,606

TOTAL LIABILITIES

82,407

86,082

11,862

SHAREHOLDERS’ EQUITY

Ordinary shares

3

3

–

Paid-in capital in combined companies

7,669

–

–

Additional paid-in capital

15,763

10,513

1,450

Treasury Stock

(187)

(187)

(26)

Accumulated deficits

(38,894)

(33,953)

(4,679)

Accumulated other comprehensive income

(142)

(41)

(6)

Total Zeekr Group shareholders’ deficit

(15,788)

(23,665)

(3,261)

Non-controlling interest

1,593

(1,306)

(180)

TOTAL SHAREHOLDERS’ DEFICIT

(14,195)

(24,971)

(3,441)

TOTAL LIABILITIES AND SHAREHOLDERS’

EQUITY 

68,212

61,111

8,421

 

 

 

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME

(Amounts in million, except share/ADS and per share/ADS data and otherwise noted)

Three Months Ended

March 31

December 31

March 31

March 31

2024

2024

2025

2025

RMB

RMB

RMB

US$

Revenues:

Vehicle sales

16,450

31,015

19,096

2,631

Other sales and services

5,331

4,362

2,923

403

Total revenues

21,781

35,377

22,019

3,034

Cost of revenues:

Vehicle sales

(14,297)

(26,583)

(15,948)

(2,198)

Other sales and services

(3,939)

(2,429)

(1,858)

(256)

Total cost of revenues

(18,236)

(29,012)

(17,806)

(2,454)

Gross profit

3,545

6,365

4,213

580

Operating expenses:

Research and development expenses

(2,326)

(3,910)

(2,908)

(401)

Selling, general and administrative

expenses

(2,913)

(4,123)

(2,645)

(364)

Other operating income, net

0

585

81

11

Total operating expenses

(5,239)

(7,448)

(5,472)

(754)

Loss from operations

(1,694)

(1,083)

(1,259)

(174)

Interest expense

(148)

(187)

(116)

(16)

Interest income

78

159

45

6

Investment income

0

727

0

0

Other income/(expense), net

(140)

(189)

593

82

Loss before income tax expense and

share of losses in equity method

investments

(1,904)

(573)

(737)

(102)

Share of income/(loss) in equity method

investments

91

(134)

128

18

Income tax benefit/(expense)

(102)

78

(154)

(21)

Net loss

(1,915)

(629)

(763)

(105)

Less: income/(loss) attributable to non-

controlling interest

67

248

(45)

(6)

Net loss attributable to shareholders of

Zeekr Group

(1,982)

(877)

(718)

(99)

ZEEKR INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE

(LOSS)/INCOME (CONTINUED)

(Amounts in million, except share/ADS and per share/ADS data and otherwise noted)

Three Months Ended

March 31

December 31

March 31

March 31

2024

2024

2025

2025

RMB

RMB

RMB

US$

Net loss per share attributed to

ordinary shareholders:

Basic and diluted

(0.99)

(0.34)

(0.28)

(0.04)

Weighted average shares used in

calculating net loss per share:

Basic and diluted

2,000,000,000

2,552,901,668

2,552,901,668

2,552,901,668

Net loss per ADS attributed to

ordinary shareholders:

Basic and diluted

–

(3.44)

(2.81)

(0.39)

Weighted average ADS used in

calculating net loss per ADS:

Basic and diluted

–

255,290,167

255,290,167

255,290,167

Net loss

(1,915)

(629)

(763)

(105)

Other comprehensive income/(loss),

net of tax of nil:

Foreign currency translation

adjustments

138

(41)

19

3

Comprehensive loss

(1,777)

(670)

(744)

(102)

Less: comprehensive income/(loss)

attributable to non-controlling interest

156

226

(68)

(9)

Comprehensive loss attributable to

shareholders of Zeekr Group 

(1,933)

(896)

(676)

(93)

 

 

 

ZEEKR INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(Amounts in million, except share/ADS and per share/ADS data and otherwise noted)

Three Months Ended

March 31

December 31

March 31

March 31

2024

2024

2025

2025

RMB

RMB

RMB

US$

Loss from operations

(1,694)

(1,083)

(1,259)

(174)

Share-based compensation expenses

3

89

123

17

Non-GAAP loss from operations

(1,691)

(994)

(1,136)

(157)

Net loss

(1,915)

(629)

(763)

(105)

Share-based compensation expenses

3

89

123

17

Non-GAAP net loss

(1,912)

(540)

(640)

(88)

Net loss attributable to ordinary shareholders

(1,982)

(877)

(718)

(99)

Share-based compensation expenses

3

89

123

17

Non-GAAP net loss attributable to

ordinary shareholders of Zeekr

Group 

(1,979)

(788)

(595)

(82)

Weighted average number of

ordinary shares used in calculating

Non-GAAP net loss per share

Basic and diluted

2,000,000,000

2,552,901,668

2,552,901,668

2,552,901,668

Non-GAAP net loss per ordinary

share attributed to ordinary

shareholders

Basic and diluted

(0.99)

(0.31)

(0.23)

(0.03)

Weighted average number of ADS

used in calculating Non-GAAP net

loss per ADS

Basic and diluted

–

255,290,167

255,290,167

255,290,167

Non-GAAP net loss per ADS

attributed to ordinary shareholders

Basic and diluted

–

(3.09)

(2.33)

(0.32)

 

 

View original content:https://www.prnewswire.com/news-releases/zeekr-group-reports-first-quarter-2025-unaudited-financial-results-302456086.html

SOURCE ZEEKR Intelligent Technology Holding Limited

Continue Reading

Technology

SKYWORTH Solar Announces Global Launch of Solavita as a Smart Microgrid Brand

Published

on

By

SHENZHEN, China, Oct. 31, 2026 /PRNewswire/ — SKYWORTH Solar has officially announced the global launch of Solavita, its dedicated brand for smart microgrid solutions. Positioned strategically as “A Smart Microgrid Expert for Diverse Energy Scenarios,” Solavita consolidates the company’s extensive solution portfolio and service infrastructure under a unified global identity, building upon its rapidly expanding international footprint.

Addressing Grid Flexibility and Long-Term System Value

The launch comes as electricity systems face growing demands for flexibility. The International Energy Agency’s 2026 mid-year electricity update highlights the importance of flexible resources and more efficient use of infrastructure as renewable generation expands. For customers, the priorities vary by market: managing electricity costs, using more locally generated solar power, or maintaining essential loads where grid supply is unreliable.

“As renewable energy becomes more distributed, the long-term performance of the whole system becomes increasingly important,” said Fan Ruiwu, Chairman of SKYWORTH Solar. “We see that performance as the foundation of our international energy business. With Solavita, we are bringing our capabilities together around a common approach to solution development and service, while working with local partners to adapt delivery to each market. Our focus is on the value these systems provide throughout their life.”

Solutions for Different Energy Needs

To address the dual challenges of grid volatility and operational cost, Solavita engineers its systems around a core architectural philosophy prioritizing grid-forming stability, intelligent automation, cross-generation efficiency, and multi-tier security. Translating these technical principles into practical applications, the brand introduces a comprehensive solution matrix tailored to specific market demands.

For residential users, the SolaHome suite utilizes an advanced Home Energy Management System (HEMS) to seamlessly coordinate rooftop solar, battery storage, and flexible domestic loads like heat pumps and EV chargers. In markets with dynamic electricity tariffs, such as Germany, HEMS automates energy dispatch to capitalize on low-price periods. This practical value is evidenced by a recent residential installation in Jesteburg, Germany, combines 18.9 kW of rooftop solar with 20.48 kWh of battery storage. Solavita reports nearly €50 in electricity-price arbitrage benefits during the first month of dynamic-tariff operation.

Expanding beyond the home, the portfolio scales up with SolaBiz, which integrates distributed solar, commercial storage, and smart dispatch to help factories and retail spaces manage peak-demand costs and safeguard against grid disruptions.

For larger utility and off-grid demands, SolaMatrix delivers scalable, containerized storage and microgrid management focused on stabilizing renewable integration in weak grid environments.

Finally, ensuring energy access in highly mobile contexts, SolaGo offers plug-and-play balcony solar and portable power systems for outdoor activities and critical emergency backup, completing Solavita’s end-to-end coverage of modern energy applications.

Global Engineering Foundation and Ecosystem Delivery

To guarantee the reliable implementation and long-term asset value of these diverse solutions, SKYWORTH Solar underpins Solavita with a robust global engineering foundation.

On the technology front, the Smart Microgrid Technology Centre connects cutting-edge research with product engineering, supported by academic collaborations with Tianjin University and Hainan University. This pipeline is further strengthened by a comprehensive Haikou test platform—scheduled for commissioning by the end of 2026—to rigorously validate grid-connected, islanded, and grid-forming systems.

The InfraCosmos Digital Platform supports lifecycle data management, operational monitoring and fault identification. It connects system information with service and maintenance, helping teams monitor performance and respond to operating issues.

Beyond hardware and software, this foundation extends to flexible supply chain execution and strategic project delivery. Solavita employs F+D+EPC+O (Financing, Development, Engineering, Procurement, Construction, and Operations) framework for large-scale, asset-light project coordination, alongside a localized PD2C cooperation model actively deployed in markets like Germany and Italy to ensure rapid, market-specific service.

These capabilities underpin Solavita’s positioning as a smart microgrid expert, connecting system development with local delivery and ongoing service. The aim is to make integrated energy systems practical to deploy and support in each market.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/skyworth-solar-announces-global-launch-of-solavita-as-a-smart-microgrid-brand-302925531.html

SOURCE SKYWORTH Solar

Continue Reading

Technology

TCL Donates Ultra-Low-Power Display System to the Youth Olympic Village, Bringing Advanced Display Technology to Everyday Use

Published

on

By

The donation of the display, featuring TCL CSOT’s high-brightness Field Sequential Color technology, continues TCL’s long-term commitment to the African market

DAKAR, Senegal, Oct. 31, 2026 /PRNewswire/ — TCL, a Worldwide Olympic and Paralympic Partner, donated an ultra-low-power display system powered by solar energy to Université Amadou Mahtar Mbow (UAM) in Senegal. Delivering outdoor brightness at roughly half the power consumption of comparable displays, the system will serve as an information hub on the UAM campus, which will also serve as the Youth Olympic Village during the Dakar 2026 Youth Olympic Games.

Attendees at the donation ceremony included IOC President, Kirsty Coventry; UAM President, Professor Mababa Diagne; Senegal Higher Education Minister, Boubacar Camara; TCL Charity Ambassador, Jacky Heung; and General Manager of TCL Industries’ Middle East and Africa Marketing Division, Naimin Yang.

“Powered by TCL’s advanced display technology, this new display system will create new possibilities for our campus facilities and support development for both students and faculty,” said Professor Diagne.

Advanced Display Technology Delivers Best in Brightness and Efficiency

The donated system features a TCL CSOT 75-inch high-brightness Field Sequential Color (FSC) display capable of delivering 4,000-nit brightness at approximately 300W. By eliminating conventional color filters and generating color through the sequential switching of red, green and blue light, FSC technology enhances light utilization with transmittance over 15%.

The technology reflects TCL CSOT’s continued pursuit of improved display performance and energy efficiency, bringing advanced screens into everyday settings through TCL’s broader Screen Universe vision. Installed at UAM, the display will serve as an outdoor information hub, remaining bright and clear even in direct sunlight.

TCLArt and TCLYoung Champion Local Art and the Next Generation of Creators

Beyond technology, TCL also supports local culture in Dakar through its art-focused initiative, TCLArt. TCL participates in the Yeesal urban art initiative, which works with Senegalese artists and communities to create large-scale public murals. The project supports 43 artists, especially creators under 35, whose works draw inspiration from African athletes, cultural diversity, and youth aspirations. These murals will become permanent features of Dakar’s urban landscape, celebrating local creativity while reflecting TCL’s commitment to the next generation of creative talent through TCLYoung.

From Local Presence to Shared Growth: TCL Deepens its Footprint in Africa

Both the donation and Yeesal partnership build on a presence in Africa stretching back more than two decades. TCL first entered the African market in 2004. Today, TCL TVs and home appliances are sold in nearly 50 African countries across the continent, supported by six sales subsidiaries and three regional business units. TCL continues to strengthen its retail presence across the region, including with the opening of the first TCL brand experience store in Africa in Johannesburg, and the establishment of its own retail and distribution channel in Kenya.

Through its established business network and localized operations, TCL continues to build closer connections with African customers and consumers, combining global technological capabilities with a deeper understanding of local markets to better serve people across the region.

About TCL

Founded in 1981, TCL is dedicated to empowering smarter, healthier lifestyles through next-generation experiences.

Today, with 50 R&D centers and 47 manufacturing bases globally, TCL operates in over 160 countries and regions, reinforcing its position as a globally competitive smart technology brand. To further inspire greatness, TCL has become an official Worldwide Olympic and Paralympic Partner in the Home Audiovisual Equipment and Home Appliances category.

https://www.tcl.com/global/en

View original content to download multimedia:https://www.prnewswire.com/news-releases/tcl-donates-ultra-low-power-display-system-to-the-youth-olympic-village-bringing-advanced-display-technology-to-everyday-use-302925532.html

SOURCE TCL Technology Group Corporation

Continue Reading

Technology

GAC Wins 8 Awards, Including 4 First Prizes, Showcasing Technological Innovation Strength

Published

on

By

SUZHOU, China, Oct. 31, 2026 /PRNewswire/ — On October 28, GAC won 8 awards at the 2026 China-SAE Science and Technology Award ceremony in Suzhou, Jiangsu. In the fields of automotive chips, electric drive, vehicle safety, intelligent driving governance and body design, four first prizes were awarded to two GAC-led projects and two GAC-participated projects, and one GAC-led project won second prize.

In chips, GAC’s led project built a full-chain path from vehicle definition to scale application, working with 105 partners to apply nearly 400 chip models and over 1,000 domestic chips. The HYPTEC GT Special Edition, China’s first ICV with 100% domestically designed chips, has been launched.

In electric drive, GAC pioneered mass production of amorphous alloy stators and carbon-fiber high-speed rotors, becoming the world’s only company to mass-produce amorphous alloy automotive motors. Its amorphous ribbon is just 0.025 mm thick. The motor reaches 99.03% peak efficiency, 17.29 kW/kg power density (@1000V)—nearly three times the industry mainstream—and 30,000 rpm maximum speed; system CLTC efficiency reaches 94.184%. For users, energy consumption drops 4%, and range rises 30-50 km with the same battery capacity. It has been applied to HYPTEC, AION and AISTALAND models and promoted to other automakers. The related precision manufacturing technology won the Gold Medal with Congratulations of the Jury at the 51st International Exhibition of Inventions of Geneva.

In safety, the GAC-led project with Tsinghua University won second prize. It developed China’s first ASIL-D fully domestic safety controller, real-time risk quantification, active-suspension side-impact mitigation, a rear-window airbag and an “automaker-traffic police-hospital” integrated rescue model. It has been applied to 20 models with cumulative sales of 1.446 million units.

In addition, GAC’s participated L2-L4 safety governance project helped establish a full-lifecycle system covering pre-admission, in-process supervision and post-event traceability. Its participated BIW project features an AI-based body design system that generates concept schemes within 5 hours, with over 95% stiffness prediction accuracy and over 30% higher design efficiency; it has been applied to the second-generation GAC GS8, GAC ES9 and GAC All-new S7.

Looking ahead, GAC will uphold innovation-driven development, advance core technology breakthroughs and commercialization, and support high-quality development of China’s auto industry.

For further information about GAC, please visit: https://www.gacgroup.com/en or follow us on social.

View original content to download multimedia:https://www.prnewswire.com/news-releases/gac-wins-8-awards-including-4-first-prizes-showcasing-technological-innovation-strength-302925529.html

SOURCE GAC

Continue Reading

Trending