Zeekr Intelligent Q1 Loss Narrows On Higher Revenues, Volume

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(RTTNews) - Zeekr Intelligent Technology Holding Ltd. (ZK) reported Thursday narrower net loss in its first quarter with higher revenues and significantly higher vehicle deliveries.

In the first quarter, the Chinese premium new energy vehicle group affiliated to Geely Holding Group reported net loss attributable to ordinary shareholders of RMB718 million or $99 million, compared to loss of RMB1.982 billion a year ago. Net loss per share was RMB0.28 or $0.04, compared to loss of RMB0.99 a year ago.

Adjusted net loss attributable was RMB595 million or $82 million, compared to loss of RMB1.979 billion last year. Adjusted net loss per share was RMB0.23 or $0.03, compared with RMB0.99 loss a year earlier.

Net loss per American Depositary Share or ADS was RMB2.81 or $0.39, and adjusted net loss per ADS were RMB2.33 or $0.32 in the latest quarter.

Total revenues were RMB22.02 billion or $3.034 billion, an increase of 1.1 percent from prior year's RMB21.78 billion. Total revenues decreased 37.8 percent sequentially.

Vehicle sales were RMB19.096 billion or $2.631 billion for the first quarter, representing an increase of 16.1 percent from last year.

Total vehicle deliveries were 114,011 units, a 21.1 percent year-over-year increase. The Zeekr brand delivered 41,403 vehicles, an increase of 25.2 percent, from last year.

In April, Zeekr Group delivered a total of 41,316 vehicles across its Zeekr and Lynk & Co brands, marking a 1.5 percent increase compared to the previous month. Specifically, the Zeekr brand delivered 13,727 vehicles, while Lynk & Co brand delivered 27,589 vehicles.

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