- Zeekr Q2 revenue hit $3.83B, up 24.6% Q/Q, as deliveries rose 14.8% to 130,866 units.
- Gross margin climbed to 20.6%, while adjusted net loss shrank 81% Y/Y to $51M.
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ZEEKR Intelligent Technology ZK, a premium electric vehicle (EV) unit of Geely Auto, reported fiscal second-quarter results on Thursday.
The company reported quarterly revenue of 27.43 billion Chinese yuan, representing a decrease of 0.9% year-on-year (Y/Y). In U.S. dollars, revenue totaled $3.83 billion.
The revenue grew by 24.6% quarter-on-quarter (Q/Q).
Also Read: China’s EV Sales Fall 5% in July as Discounts Ease, Nio and Rivals See Stock Drop
Total vehicle deliveries were 130,866 units for the quarter, representing a 9.3% Y/Y increase and a 14.8% Q/Q increase.
The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models.
The premium electric vehicle company’s adjusted net loss per ADS was 1.42 Chinese yuan. In U.S. dollar terms, the company reported adjusted net loss per ADS of 20 cents.
Vehicle sales revenue were 22.92 billion Chinese yuan ($3.2 billion) for the quarter, representing an increase of 2.2% Y/Y driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The revenue grew by 20.0% Q/Q, mainly driven by sales growth resulting from the launch of new models.
The vehicle margin was 17.3%, up from 11.5% in the prior year quarter, driven by sustained cost-saving initiatives. The prior quarter margin was 16.5%.
Revenues from other sales and services declined 13.8% Y/Y to $630 million for the quarter, due to a decrease in R&D revenue from related parties. The revenue grew by 54.5% Q/Q due to the increased overseas sales of battery packs and electric drives.
The gross margin expanded to 20.6% for the quarter from 18.0% a year ago. The prior quarter margin was 19.1%.
Adjusted net loss was $51 million for the quarter, down by 81.2% Y/Y. The loss declined by 38.8% Q/Q.
As of June 30, 2025, cash and cash equivalents and restricted cash stood at 10.21 billion Chinese yuan ($1.43 billion).
Zeekr stock gained 4.4% year-to-date signifying intense electric vehicle competition from the likes of Tesla TSLA, Nio NIO.
Price Action: ZK shares are trading higher 1.21% to $29.99 premarket at last check Thursday.
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