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Zeekr Group Reports First Quarter 2025 Unaudited Financial Results

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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

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Cavli Wireless Launches Cavli360, a Collaborative Industry Magazine Connecting the Global IoT Ecosystem

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SAN JOSE, Calif., Oct. 28, 2026 /PRNewswire/ — Cavli Wireless, a global end-to-end IoT solutions provider, has launched the inaugural edition of Cavli360, a new industry publication featuring insights, experiences, and perspectives from across the connected technology landscape.

Officially launched at electronica India 2026 in Bengaluru, Cavli360 is a collaborative platform that brings together insights and perspectives from Cavli Wireless’s leadership team, customers, distributors, technology partners, industry experts, and analysts to spotlight innovations, industry developments, and emerging trends shaping the future of IoT.

Read Cavli360 Edition 1 online: Explore the digital magazine

Reflecting on nearly a decade of innovation and technological advancement, the inaugural edition of Cavli360 features insights from John Mathew, Founder and CEO of Cavli Wireless, on the company’s evolution, technological breakthroughs, and key milestones that have shaped its journey in the cellular IoT industry.

Perspectives from Cavli’s co-founders further shed light on the strategic and operational foundations that have supported the company’s growth over the years, while outlining its vision for the future.

Strategic Growth Highlights

Manufacturing expansion: Plans to triple manufacturing capacity.International growth: Expanding beyond the Indian market to meet growing international demand.Talent development: Shifting from talent acquisition toward nurturing talent and developing capabilities internally.

The magazine also brings together insights from Cavli’s leadership and functional teams, exploring the core capabilities behind its end-to-end IoT ecosystem. Covering hardware architecture, embedded firmware, RF engineering, quality assurance, manufacturing, customer support, and regulatory certifications, the articles highlight the depth of Cavli’s technical expertise and the engineering capabilities that drive its IoT innovations. Contributions from Cavli’s regional sales leaders provide insights into evolving market dynamics, changing customer requirements, and emerging opportunities across international markets.

Additionally, the publication provides a glimpse into Cavli’s end-to-end IoT ecosystem, highlighting its cellular IoT module portfolio, global connectivity powered by MNO/MVNO partnerships, and the Cavli Hubble™ platform that enables seamless connectivity management, remote device management, and lifecycle orchestration across IoT deployments. 

Technical and IoT Ecosystem Highlights

Engineering expertise: Hardware architecture, embedded firmware, RF engineering, quality assurance, manufacturing, customer support, and regulatory certifications.Cellular IoT and connectivity: LPWAN, LTE, and 5G cellular IoT modules with integrated eSIM connectivity, powered by global MNO/MVNO partnerships for seamless cellular IoT connectivity.Cavli Hubble™ platform: Connectivity management, remote device management, and lifecycle orchestration across IoT deployments.

Beyond internal perspectives, Cavli360 brings together insights from technology partners, distributors, customers, and industry analysts, offering a broader view of the developments shaping the cellular IoT ecosystem. Expert articles examine key industry trends, including 5G adoption in automotive applications, the convergence of AI and IoT, and the evolution from 5G to 6G. Customer success stories showcase real-world applications of Cavli’s integrated IoT solutions across smart retail, supply chain visibility, smart cities, and other sectors, highlighting their role in simplifying connectivity and enabling connected deployments. Technology partners and distributors also offer additional insights into emerging technologies, regional market dynamics, and growth opportunities across the global IoT landscape.

“IoT growth depends on collaboration across the entire ecosystem, from semiconductor providers and technology partners to device manufacturers and end users. Through Cavli360, we aim to bring these voices together and create meaningful conversations around the future of connectivity. We are excited to share insights into the latest developments and emerging trends shaping the IoT ecosystem through this inaugural edition and future editions of Cavli360,” remarked Alexander Johann Bufalino, CMO & VP of Cloud Services at Cavli Wireless.

Cavli360 Edition 1 is available digitally on the Cavli Wireless website, making it accessible to readers worldwide. Printed copies will also be distributed at various industry events and exhibitions attended by Cavli Wireless and its distribution partners. This includes the upcoming electronica Munich 2026, taking place from November 10–13, at the Trade Fair Center Messe München, Germany, where attendees can collect a copy from the Cavli Wireless Booth C2.628.

Through Cavli360, Cavli Wireless aims to foster a more connected, collaborative, and forward-looking IoT ecosystem, one where ideas spark innovation and shared knowledge drives progress. Cavli360 is more than a magazine; it is a platform for shaping conversations, inspiring innovation, and advancing the future of IoT together.

About Cavli Wireless

Cavli Wireless is a global end-to-end IoT solutions provider enabling organizations to build, deploy, and manage connected products at scale. Cavli’s integrated hardware-to-cloud ecosystem combines cellular IoT modules with built-in eSIM connectivity and Cavli Hubble™, a cloud-based platform for IoT connectivity, device and SIM lifecycle management.

Cavli enables OEMs, ODMs, enterprises, and technology partners to develop and scale connected solutions across automotive, industrial, and smart infrastructure applications through its integrated hardware, connectivity, and cloud capabilities.

Headquartered in the United States with engineering and operational capabilities across key markets, Cavli Wireless works with customers and partners worldwide to simplify connected product development and support scalable IoT deployments.

Mariam Abey George, Junior Associate – Digital Marketing
Cavli Wireless
mariam.george@cavliwireless.com
cavliwireless.com

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SOURCE Cavli Inc.

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Whoscall, GASA and Mastercard Release the 2026 Asia Scam Report: Hong Kong

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More Than 80% of Hong Kong Respondents Encountered Scams; Phone Calls and SMS Remain the Leading Channels and bank account transfers by scammers is significantly above the Asia average at 43%

Impersonation Scams Are the Most Common, While More Than 60% of Victims Have Been Scammed More Than Once

HONG KONG, Oct. 28, 2026 /PRNewswire/ — The Global Anti-Scam Alliance (GASA), Whoscall, the anti-scam app developed by TrustTech company Gogolook, and Mastercard have jointly released the 2026 Asia Scam Report: Hong Kong. The report examines how people in Hong Kong encounter scams, the tactics scammers use, how victims are asked to pay, and the effects of being scammed. It finds that 81% of respondents encountered a scam in the past year, while 48% interacted with a scammer. Phone calls and SMS remain the most common points of contact, and WhatsApp leads among individual digital platforms.

81% Encountered Scams; 27% of Victims Were Scammed Five Times

According to the report, 81% of Hong Kong respondents encountered a scam in the past year. Nearly half (48%) interacted with a scammer; 21% lost money following an interaction, and 14% provided personal information. The risk also extends to younger people: 33% of parents surveyed said their underage children had been scammed.

Among respondents who had been scammed, approximately 63% had been victimized more than once. More than a quarter (27%) said they had been scammed five times, while another 6% reported more than five incidents. These findings point to the need for continued support after an initial scam, including guidance that helps victims recognize and avoid subsequent attempts.

“One of the most striking findings in Hong Kong is the gap between confidence and vulnerability. While 76% of adults believe they can recognize a scam, nearly half of those exposed still interacted with one. Awareness is important, but consumers cannot be expected to carry the burden alone. Stronger prevention and intervention across the scam journey are essential,” said Brian D. Hanley, Chapter Director Asia-Pacific, Global Anti-Scam Alliance (GASA).

Jeff Kuo, Co-founder and CEO of Gogolook, said: “Scams now reach people through everyday channels, from phone calls and texts to messaging apps. More than 60% of scam victims in Hong Kong have been scammed more than once, highlighting the need for continued scam prevention education. Through our work with GASA, we hope to turn these findings into greater awareness and stronger protection. Gogolook will keep improving its technology to help people identify scams.”

Rajat Maheshwari, GASA Inaugural Chapter Chair and Senior Vice President, Strategic Growth (AP), Mastercard shared, “Hong Kong has put in place a strong range of measures to combat scams, offering valuable learnings for markets around the world. As scams continue to evolve, the GASA report highlights the opportunity to build on this progress through deeper collaboration across the wider ecosystem, supported by technology and a greater focus on preventive and behavior-based measures. Continued public-private partnership will be essential to staying ahead of emerging threats and helping protect people from scam-related losses.”

Top Three Scam Channels Revealed; WhatsApp Leads Digital Platforms at Nearly 70%

Phone calls (59%) and SMS (52%) were the channels through which Hong Kong respondents most commonly encountered scams, followed by messaging apps (47%) and email (41%). Compared with 2025, the share reporting scam contact by phone was unchanged, SMS fell by two percentage points, and messaging apps rose by four percentage points. The report also found that around 80% of scam contact occurred on platforms with private messaging capabilities, underscoring the need to scrutinize suspicious requests that move from calls or texts into private conversations.

Among individual digital platforms, WhatsApp ranked first at 68%. Hong Kong Police recently reported receiving around 50 cases of WhatsApp account hijacking in the first week of October, with losses totaling nearly HK$20 million. Many of the cases involved cryptocurrency or investment pretexts. Gmail (32%) and Facebook (28%) followed WhatsApp, while Instagram (22%) and Telegram (17%) also featured prominently. Whoscall advises people to verify a contact through a separate, trusted channel, even when a message arrives on a familiar platform or appears to come from a friend, business or public agency.

Impersonation Encountered by Over 80% of Respondents, Followed by Investment and Shopping Scams

Impersonation was the most widely encountered scam type, reported by 81% of Hong Kong respondents; 17% had interacted with someone carrying out such a scam. Scammers may pose as Hong Kong Police, the Department of Health or mainland law enforcement officials, claim that a person is implicated in a crime, and demand passwords or access to assets for a purported investigation. Others may impersonate banks, major telecommunications providers or online shopping platforms, using claims of account problems or order cancellations to obtain personal information, passwords or remote access to a device.

Investment scams followed at 78%, while shopping scams reached 71%. Respectively, 17% and 16% of respondents had interacted with scammers using these approaches. Other commonly encountered schemes included prize scams (68%), fake invoice scams (64%), identity theft (62%) and romance scams (61%). In addition, 55% had encountered offers claiming to help recover money lost to a scam. Such approaches warrant particular caution from people who have already suffered a loss.

Bank Transfers Are the Most Common Payment Method; Harm Extends Beyond Financial Loss

Among respondents who paid a scammer, 43% did so by bank transfer, above the Asia-wide average of 36%. Mobile payment apps and credit cards each accounted for 25%, followed by e-wallets at 24%. Physical or digital gift cards, cash, and payment tools within websites each accounted for 21%. The trend shows scammers favor immediate and irrevocable payment methods that increase in abuse rates in Hong Kong. This will require more advance interventions to secure these immediate payment rails in Hong Kong.

The report also examined the broader effects of scams on people in Hong Kong. Beyond financial loss, 33% said the experience had damaged their confidence and caused them to question themselves, 28% worried about being scammed again, and 23% had become less trusting of the internet or digital tools. The effects reached into daily life: 23% needed financial help from friends or family, and another 23% reported a greater need to borrow money. Both figures exceeded the Asia-wide averages.

When faced with a suspicious message or request, Whoscall recommends pausing before taking action and checking the sender’s identity using information from an official website. Anti-scam tools can also help assess unfamiliar numbers, links and messages. Anyone who has been scammed should seek help from the relevant authorities or organizations promptly and remain alert to subsequent offers to recover their money, which may be another scam attempt.

To help people navigate changing scam tactics, Whoscall offers more than caller identification. Its Check feature lets users assess suspicious phone numbers, URLs and screenshots in one place. Whether they receive an unfamiliar message or a promotional email, users can upload a screenshot or photograph a physical flyer for an AI-powered assessment of potential risks. They can also share the results with friends and family, helping others recognize suspicious content before they engage with it.

The full 2026 Asia Scam Report – Hong Kong is available on the GASA website:
https://gasa.org/knowledge-base?content_group=318467252980&page=1

For more information about the Global Anti-Scam Summit Asia 2026, visit:
https://events.gasa.org/gass-asia-2026

About Whoscall

The Whoscall app, a digital anti-scam tool, is designed to protect users across various scenarios from scams and spams, including phone calls, text messages, and links. With over 100 million downloads worldwide, it boasts the most comprehensive database in East and Southeast Asia, encompassing over 2.6 billion phone numbers, and collects data from partner ScamAdviser to form a leading digital anti-scam database. The Whoscall team has been dedicated to developing anti-scam technology for over a decade, employing AI to analyze and simulate the patterns of scam groups, proactively preventing the spread of scams. At the same time, Whoscall actively engages in building a community collaboration mechanism with its users, playing a role with societal impact in digital anti-scam services from educational initiatives, cross-sector collaboration to product innovation. Recognized and chosen for partnerships by the Taiwan National Police Agency, Thai Royal Police and NCSA, Royal Malaysia Police and CyberSecurity Malaysia, the Philippines Cybercrime Investigation and Coordinating Center, Financial Supervisory Service of South Korea, and local governments in Japan.

For more information, please refer to: https://whoscall.com/en

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SOURCE Whoscall; Gogolook

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“All Access with Andy Garcia” Explores Data Loss Prevention and Recovery with Secure Data Recovery Services

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Educational segment examines how preparation, backup strategies, and specialized recovery services help protect individual and business data amid rising vulnerabilities.

CLEVELAND, Oct. 28, 2026 /PRNewswire/ — “All Access with Andy Garcia” features Secure Data Recovery Services in an educational segment that highlights the critical importance of professional data recovery solutions in an era of growing digital vulnerability. Filmed on May 21, 2026, the segment began commercial and Public Television distribution in September 2026.

Family photos, professional records, and business systems all depend on digital storage that can be affected by hardware failure, human error, or ransomware. The segment examines the importance of planning before an incident occurs, including establishing backup strategies and testing response plans. Viewers learn how preparation can help limit disruption and reduce the risk of permanent loss.

The series takes viewers inside the specialized science of recovering data from damaged or compromised devices, and explains why preparation matters before a crisis occurs. Secure Data Recovery shares insights into cleanroom recovery for storage devices, ransomware recovery techniques, and the research required to understand evolving storage technologies. As devices become more complex, the company’s specialists study how storage technologies are designed and behave, developing recovery methods before customers need them.

The company’s work also reveals how recovery experience can inform prevention. The need to return recovered files securely inspired the development of hardware-encrypted drives, while lessons with ransomware recovery reinforced the importance of user education and disaster recovery planning. From creating and storing information to recovering it, and ultimately securely destroying it, the segment offers a broader look at responsible data management. As the company’s staff emphasize, data loss is not a question of “if,” but “when,” making informed preparation an essential part of protecting valuable digital assets.

“Being featured on All Access is a testament to our entire team’s dedication,” said Sergey Gulyayev, CEO of Secure Data Recovery. “We are committed to providing the highest level of service to our clients when they are most vulnerable, and we are honored that this commitment has been recognized by such a respected outlet.” He added: “We invest in client education and preparedness; the best outcome for everyone is a client who never needs emergency recovery because they had the right strategy in place.”

About All Access

Hosted by actor, director, and producer Andy Garcia, “All Access with Andy Garcia” brings educational stories to Public Television stations nationwide. Through expert perspectives and compelling storytelling, the series explores developments in science, business, healthcare, education, and more, helping audiences better understand the ideas and efforts shaping their communities and the world around them. Learn more at www.allaccessptv.com.

About Secure Data Recovery

Secure Data Recovery is an industry leader in professional data recovery, delivering secure, reliable solutions for organizations and individuals facing complex data loss or ransomware attacks. Backed by advanced technology, state-of-the-art facilities, and a dedicated team of engineers, the company specializes in recovering data from hard drives, RAID arrays, SSDs, mobile devices, and more. By combining specialized expertise, global operations, and industry leadership, Secure Data Recovery delivers high success rates, certified data security practices, and a customer-focused approach that includes free, comprehensive diagnostic analyses, no-obligation price quotes, and 24/7 emergency support — giving customers peace of mind and efficient results during critical data emergencies.

Secure Data Recovery is headquartered in Cleveland, OH, USA.

For additional information, please visit https://www.securedatarecovery.com.

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SOURCE All Access

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