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NEW YORK - Zeekr Intelligent Technology Holding Limited (NYSE: ZK) reported fourth quarter revenue that beat analyst expectations, as vehicle deliveries nearly doubled year-over-year. However, the electric vehicle maker’s stock fell 1.6% following the results.
The Chinese premium EV brand reported fourth quarter revenue of RMB22.78 billion ($3.12 billion), up 39.2% year-over-year and exceeding analyst estimates. Vehicle sales revenue surged 82.2% to RMB19.30 billion.
Zeekr delivered 79,250 vehicles in Q4, representing a 99.8% increase from the same period last year. For the full year 2024, vehicle deliveries reached 222,123 units, up 87.2% year-over-year.
The company reported a net loss of RMB820.6 million ($112.4 million) for the quarter, narrowing from a RMB2.94 billion loss in Q4 2023. Non-GAAP net loss per ADS was RMB3.56 ($0.49).
"In the fourth quarter, we achieved a historic milestone with our highest delivery volume since inception, delivering 79,250 units—nearly double that of the same period last year," said CEO Andy An.
Vehicle margin improved to 17.3% in Q4, up from 15.3% a year ago, driven by cost reduction initiatives.
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