PBOC Finds Consumer Mood Is Turning Darker Even as Economy Grows
Consumers turned increasingly negative about income, employment, and prices in April-June, the poll showed. The release of the survey results has become unpredictable in recent years, with the data for the first and second quarters published at the same time on Friday instead of at a regular interval as in the past.
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HANGZHOU, China, Aug. 14, 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 second quarter ended June 30, 2025.[1] Operating Highlights for the Second Quarter of 2025 Total vehicle deliveries were 130,866 units for the second quarter of 2025, representing a 9.3% year-over-year increase and a 14.8% quarter-over-quarter 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. Deliveries2025 Q22025 Q12024 Q42024 Q3 130,866114,011169,088124,606Deliveries2024 Q22024 Q12023 Q42023 Q3 119,75594,115120,11494,151 Financial Highlights for the Second Quarter of 2025 Vehicle sales were RMB22,916 million (US$3,199 million)[2] for the second quarter of 2025, representing an increase of 2.2% from the second quarter of 2024 and an increase of 20.0% from the first quarter of 2025. Vehicle margin[3] was 17.3% for the second quarter of 2025, compared with 11.5% for the second quarter of 2024 and 16.5% for the first quarter of 2025. Total revenues were RMB27,431 million (US$3,829 million) for the second quarter of 2025, representing a decrease of 0.9% from the second quarter of 2024 and an increase of 24.6% from the first quarter of 2025. Gross profit was RMB5,656 million (US$789 million) for the second quarter of 2025, representing an increase of 13.3% from the second quarter of 2024 and an increase of 34.3% from the first quarter of 2025. Gross margin was 20.6% for the second quarter of 2025, compared with 18.0% for the second quarter of 2024 and 19.1% for the first quarter of 2025. Income from operations was RMB285 million (US$39 million) for the second quarter of 2025, compared with RMB2,269 million loss from operations in the second quarter of 2024 and RMB1,259 million loss from operations in the first quarter of 2025. Excluding share-based compensation expenses, adjusted income from operations (non-GAAP)[4] was RMB315 million (US$43 million) for the second quarter of 2025, compared with RMB1,325 million non-GAAP loss from operations in the second quarter of 2024 and RMB1,136 million non-GAAP loss from operations in the first quarter of 2025. Net loss was RMB287 million (US$40 million) for the second quarter of 2025, representing a decrease of 88.8% from the second quarter of 2024 and a decrease of 62.4% from the first quarter of 2025. Excluding share-based compensation expenses, adjusted net loss (non-GAAP)[4] was RMB257 million (US$36 million) for the second quarter of 2025, representing a decrease of 84.2% from the second quarter of 2024 and a decrease of 59.8% from the first quarter of 2025. [1] All disclosed data (including historical periods) were recast to reflect common-control accounting treatment related to Lynk & Co's acquisition. [2] All conversions from Renminbi("RMB") to U.S. dollars ("US$") were made at an exchange rate of RMB7.1636 to US$1.00, as set forth in the H.10 statistical release of the Federal Reserve Board on June 30, 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 Second Quarter of 2025 (in RMB millions, except for percentages)2025 Q2 2025 Q1 2024 Q2 % Changei YoY QoQ Vehicle sales 22,916 19,096 22,433 2.2 % 20.0 % -Zeekr 10,925 9,987 13,438 (18.7) % 9.4 % - Lynk & Co 11,991 9,109 8,995 33.3 % 31.6 % Vehicle margin 17.3 % 16.5 % 11.5 % 5.8pts 0.8pts -Zeekr 21.1 % 21.2 % 14.2 % 6.9pts (0.1)pts - Lynk & Co 13.8 % 11.4 % 7.6 % 6.2pts 2.4pts Total revenues 27,431 22,019 27,671 (0.9) % 24.6 % Gross profit 5,656 4,213 4,994 13.3 % 34.3 % Gross margin 20.6 % 19.1 % 18.0 % 2.6pts 1.5pts Income/(loss) from operations 285 (1,259) (2,269) N/A N/A Non-GAAP income/(loss) from operations 315 (1,136) (1,325) N/A N/A Net loss (287) (763) (2,569) (88.8) % (62.4) % Non-GAAP net loss (257) (640) (1,625) (84.2) % (59.8) % i Except for vehicle margin and gross margin, absolute changes instead of percentage changes are presented. Recent Developments Delivery Update In July, Zeekr Group delivered a total of 44,193 vehicles across its Zeekr and Lynk & Co brands, marking a 2.7% increase compared to the previous month. This achievement was made possible by the trust and support of over 2 million users. Specifically, the Zeekr brand delivered 16,977 vehicles, while Lynk & Co brand delivered 27,216 vehicles. New Model Launches On July 9, 2025, Zeekr debuted its revolutionary Super Hybrid Technologies in Wuzhen, China. This system sets new standards for long-range plug-in hybrid technologies including best-in-class charging and acceleration speeds, as well as luxury noise and vibration control, enhancing both highway cruising and urban experiences. Built on the Company's groundbreaking SEA-S platform, the Zeekr Super Hybrid System features a revolutionary 900V high-voltage architecture, tri-silicon carbide-powered e-motors and a CATL Freevoy Super Hybrid battery. This powerful combination enables passengers to enjoy quiet city journeys and confidently transition to high-performance or long-distance driving, free of range anxiety. The recently unveiled Zeekr 9X is the first model in the Zeekr lineup to incorporate this technology. Boasting a 70kWh battery pack with a 380km range per CLTC (model specific), as well as an all-new, turbocharged 2.0T engine with peak power output of 205 kW (275 hp) and thermal efficiency over 46%, Zeekr 9X delivers a performance that is normally only found in super luxury premium models. Zeekr 9X will commence deliveries in the third quarter of 2025. Financial Results for the Second Quarter of 2025 Revenues Total revenues were RMB27,431 million (US$3,829 million) for the second quarter of 2025, representing a decrease of 0.9% from RMB27,671 million for the second quarter of 2024 and an increase of 24.6% from RMB22,019 million for the first quarter of 2025. Revenues from vehicle sales were RMB22,916 million (US$3,199 million) for the second quarter of 2025, representing an increase of 2.2% from RMB22,433 million for the second quarter of 2024, and an increase of 20.0% from RMB19,096 million for the first quarter of 2025. The year-over-year increase was mainly driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The quarter-over-quarter increase was mainly driven by sales growth resulting from the launch of new models during the second quarter of 2025. Revenues from other sales and services were RMB4,515 million (US$630 million) for the second quarter of 2025, representing a decrease of 13.8% from RMB5,238 million for the second quarter of 2024 and an increase of 54.5% from RMB2,923 million for the first quarter of 2025. The year-over-year decrease was primarily due to a decrease in R&D revenue from related parties in the second quarter of 2025. The quarter-over-quarter increase was mainly due to the increased overseas sales of battery packs and electric drives since May 2025. Cost of Revenues and Gross Margin Cost of revenues was RMB21,775 million (US$3,040 million) for the second quarter of 2025, representing a decrease of 4.0% from RMB22,677 million for the second quarter of 2024 and an increase of 22.3% from RMB17,806 million for the first quarter of 2025. The year-over-year decrease was primarily attributable to the ongoing vehicle cost-saving initiatives. The quarter-over-quarter increase was mainly due to the increased vehicle delivery volume. Gross profit was RMB5,656 million (US$789 million) for the second quarter of 2025, representing an increase of 13.3% from RMB4,994 million for the second quarter of 2024 and an increase of 34.3% from RMB4,213 million for the first quarter of 2025. Gross margin was 20.6% for the second quarter of 2025, compared with 18.0% for the second quarter of 2024 and 19.1% for the first quarter of 2025. Vehicle margin was 17.3% for the second quarter of 2025, compared with 11.5% for the second quarter of 2024 and 16.5% for the first quarter of 2025. The year-over-year and quarter-over-quarter increases were primarily attributed to sustained cost-saving initiatives. Operating Expenses Research and development expenses were RMB2,146 million (US$300 million) for the second quarter of 2025, representing a decrease of 42.9% from RMB3,760 million for the second quarter of 2024 and a decrease of 26.2% from RMB2,908 million for the first quarter of 2025. The year-over-year and quarter-over-quarter decreases were mainly driven by economies of scale resulting from business integration, partially offset by expanded technological investments for vehicle models. Selling, general and administrative expenses were RMB3,364 million (US$469 million) for the second quarter of 2025, representing a decrease of 9.7% from RMB3,725 million for the second quarter of 2024 and an increase of 27.2% from RMB2,645 million for the first quarter of 2025. The year-over-year decrease was mainly driven by economies of scale generated following the Zeekr and Lynk & Co business integration. The quarter-over-quarter increase was primarily attributable to higher marketing and advertising expenses to support new vehicle model launches and sales growth. Income/(Loss) from Operations Income from operations was RMB285 million (US$39 million) for the second quarter of 2025, compared with RMB2,269 million loss from operations in the second quarter of 2024 and RMB1,259 million loss from operations in the first quarter of 2025. Non-GAAP income from operations, which excludes share-based compensation expenses from income/(loss) from operations, was RMB315 million (US$43 million) for the second quarter of 2025, compared with RMB1,325 million non-GAAP loss from operations in the second quarter of 2024 and RM1,136 million non-GAAP loss from operations in the first quarter of 2025. Net Loss and Net Loss Per Share Net loss was RMB287 million (US$40 million) for the second quarter of 2025, representing a decrease of 88.8% from RMB2,569 million for the second quarter of 2024 and a decrease of 62.4% from RMB763 million for the first quarter of 2025. Non-GAAP net loss, which excludes share-based compensation expenses from net loss, was RMB257 million (US$36 million) for the second quarter of 2025, representing a decrease of 84.2% from RMB1,625 million for the second quarter of 2024 and a decrease of 59.8% from RMB640 million for the first quarter of 2025. Net loss attributable to ordinary shareholders of Zeekr Group was RMB394 million (US$55 million) for the second quarter of 2025, representing a decrease of 86.3% from RMB2,876 million for the second quarter of 2024 and a decrease of 45.1% from RMB718 million for the first quarter of 2025. 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 RMB364 million (US$51 million) for the second quarter of 2025, representing a decrease of 81.2% from RMB1,932 million for the second quarter of 2024 and a decrease of 38.8% from RMB595 million for the first quarter of 2025. Basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.15 (US$0.02) for the second quarter of 2025, compared with RMB1.25 each for the second quarter of 2024 and RMB0.28 each for the first quarter of 2025. Non-GAAP basic and diluted net loss per share attributed to ordinary shareholders were both RMB0.14 (US$0.02) for the second quarter of 2025, compared with RMB0.84 each for the second quarter of 2024 and RMB0.23 each for the first quarter of 2025. Basic and diluted net loss per American Depositary Share[5] ("ADS") attributed to ordinary shareholders were both RMB1.54 (US$0.21) for the second quarter of 2025, compared with RMB12.49 each for the second quarter of 2024 and RMB2.81 each for the first quarter of 2025. Non-GAAP basic and diluted net loss per ADS attributed to ordinary shareholders were both RMB1.42 (US$0.20) for the second quarter of 2025, compared with RMB8.39 each for the second quarter of 2024 and RMB2.33 each for the first quarter of 2025. [5] Each ADS represents ten ordinary shares. Balance Sheets Cash and cash equivalents and restricted cash was RMB10,210 million (US$1,425 million) as of June 30, 2025. 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 Non-GAAP Financial Measures The Company uses non-GAAP financial measures, such as non-GAAP income/(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 RMB7.1636 to US$1.00, the exchange rate on June 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "future," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any duty to update such information, except as required under applicable law. Investor Relations Contact In China:ZEEKR Intelligent Technology Holding LimitedInvestor RelationsEmail: ir@ Piacente Financial CommunicationsTel: +86-10-6508-0677Email: Zeekr@ In the United States:Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050Email: Zeekr@ Media Contact Email: Globalcomms@ ZEEKR INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in millions)As of December 31June 30June 30 202420252025 RMBRMBUS$ASSETS Current assets: Cash and cash equivalents9,8978,0881,129 Restricted cash1,4912,122296 Notes receivable12,2686,618924 Accounts receivable2,3442,873401 Inventories10,3888,0071,118 Amounts due from related parties 9,82111,0361,541 Prepayments and other current assets4,6545,870819 Total current assets50,86344,6146,228 Property, plant and equipment, net10,98410,5021,466 Intangible assets, net1,3461,426199 Land use rights, net50650070 Operating lease right-of-use assets3,0082,817393 Deferred tax assets34051372 Long-term investments688967135 Other non-current assets47749269 Total non-current assets17,34917,2172,404 TOTAL ASSETS68,21261,8318,632 ZEEKR INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in millions)As of December 31June 30June 30 202420252025 RMBRMBUS$ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term borrowings1,3539,1291,274 Accounts payable15,89914,8322,070 Notes payable and others23,39118,0562,520 Amounts due to related parties19,09919,5232,725 Income tax payable9831644 Accruals and other current liabilities15,45513,5701,896 Total current liabilities75,29575,42610,529 Long-term borrowings2,7277,2781,016 Operating lease liabilities, non-current2,1371,946272 Other non-current liabilities2,1912,380333 Deferred tax liability57588 Total non-current liabilities7,11211,6621,629 TOTAL LIABILITIES82,40787,08812,158SHAREHOLDERS' EQUITY Ordinary shares330 Paid-in capital in combined companies7,66900 Additional paid-in capital15,76310,5421,472 Treasury stock(187)(193)(27) Accumulated deficits(38,894)(34,346)(4,795) Accumulated other comprehensive income(142)(63)(9) Total Zeekr Group shareholders' deficit(15,788)(24,057)(3,359) Non-controlling interest1,593(1,200)(167) TOTAL SHAREHOLDERS' DEFICIT(14,195)(25,257)(3,526) TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 68,21261,8318,632 ZEEKR INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)Three Months Ended June 30March 31June 30June 30 2024202520252025 RMBRMBRMBUS$ Revenues: Vehicle sales22,43319,09622,9163,199 Other sales and services5,2382,9234,515630 Total revenues27,67122,01927,4313,829 Cost of revenues: Vehicle sales(19,847)(15,948)(18,953)(2,646) Other sales and services(2,830)(1,858)(2,822)(394) Total cost of revenues(22,677)(17,806)(21,775)(3,040) Gross profit4,9944,2135,656789 Operating expenses: Research and development expenses(3,760)(2,908)(2,146)(300) Selling, general and administrative expenses(3,725)(2,645)(3,364)(469) Other operating income, net2228113919 Total operating expenses(7,263)(5,472)(5,371)(750) (Loss)/income from operations(2,269)(1,259)28539 Interest expense(139)(116)(108)(15) Interest income10345375 Other (expense)/income, net(97)593(292)(40) Loss before income tax expense and share of losses in equity method investments(2,402)(737)(78)(11) Share of income in equity method investments8612815121 Income tax expense(253)(154)(360)(50) Net loss(2,569)(763)(287)(40) Less: income/(loss) attributable to non- controlling interest307(45)10715 Net loss attributable to shareholders of Zeekr Group(2,876)(718)(394)(55) ZEEKR INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED) (Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)Three Months Ended June 30March 31June 30June 30 2024202520252025 RMBRMBRMBUS$ Net loss per share attributed to ordinary shareholders: Basic and diluted(1.25)(0.28)(0.15)(0.02) Weighted average shares used in calculating net loss per share: Basic and diluted2,301,866,8872,552,901,6682,561,060,6692,561,060,669 Net loss per ADS attributed to ordinary shareholders: Basic and diluted(12.49)(2.81)(1.54)(0.21) Weighted average ADS used in calculating net loss per ADS: Basic and diluted230,186,689255,290,167256,106,067256,106,067 Net loss(2,569)(763)(287)(40) Other comprehensive income/(loss), net of tax of nil: Foreign currency translation adjustments10919(22)(3) Comprehensive loss(2,460)(744)(309)(43) Less: comprehensive income/(loss) attributable to non-controlling interest218(68)10715 Comprehensive loss attributable to shareholders of Zeekr Group (2,678)(676)(416)(58) ZEEKR INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)Six Months Ended June 30June 30June 30 202420252025 RMBRMBUS$ Revenues: Vehicle sales38,88342,0125,865 Other sales and services10,5697,4381,039 Total revenues49,45249,4506,904 Cost of revenues: Vehicle sales(34,144)(34,901)(4,872) Other sales and services(6,769)(4,680)(654) Total cost of revenues(40,913)(39,581)(5,526) Gross profit8,5399,8691,378 Operating expenses: Research and development expenses(6,086)(5,054)(705) Selling, general and administrative expenses(6,638)(6,009)(839) Other operating income, net22222031 Total operating expenses(12,502)(10,843)(1,513) Loss from operations(3,963)(974)(135) Interest expense(287)(224)(31) Interest income1818211 Other (expense)/income, net(237)30142 Loss before income tax expense and share of losses in equity method investments(4,306)(815)(113) Share of income in equity method investments17727939 Income tax expense(355)(514)(72) Net loss(4,484)(1,050)(146) Less: income attributable to non-controlling interest374629 Net loss attributable to shareholders of Zeekr Group(4,858)(1,112)(155) ZEEKR INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED) (Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)Six Months Ended June 30June 30June 30 202420252025 RMBRMBUS$ Net loss per share attributed to ordinary shareholders: Basic and diluted(2.26)(0.43)(0.06) Weighted average shares used in calculating net loss per share: Basic and diluted2,150,933,4442,557,003,7072,557,003,707 Net loss per ADS attributed to ordinary shareholders: Basic and diluted(22.59)(4.35)(0.61) Weighted average ADS used in calculating net loss per ADS: Basic and diluted215,093,344255,700,371255,700,371 Net loss(4,484)(1,050)(146) Other comprehensive income, net of tax of nil: Foreign currency translation adjustments247(3)0 Comprehensive loss(4,237)(1,053)(146) Less: comprehensive income attributable to non-controlling interest374395 Comprehensive loss attributable to shareholders of Zeekr Group (4,611)(1,092)(151) ZEEKR INC. UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (Amounts in millions, except share/ADS and per share/ADS data and otherwise noted)Three Months Ended June 30March 31June 30June 30 2024202520252025 RMBRMBRMBUS$ (Loss)/income from operations(2,269)(1,259)28539 Share-based compensation expenses944123304 Non-GAAP (loss)/income from operations(1,325)(1,136)31543 Net loss(2,569)(763)(287)(40) Share-based compensation expenses944123304 Non-GAAP net loss(1,625)(640)(257)(36) Net loss attributable to ordinary shareholders(2,876)(718)(394)(55) Share-based compensation expenses944123304 Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group (1,932)(595)(364)(51)Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share Basic and diluted2,301,866,8872,552,901,6682,561,060,6692,561,060,669 Non-GAAP net loss per ordinary share attributed to ordinary shareholders Basic and diluted(0.84)(0.23)(0.14)(0.02) Weighted average number of ADS used in calculating Non-GAAP net loss per ADS Basic and diluted230,186,689255,290,167256,106,067256,106,067 Non-GAAP net loss per ADS attributed to ordinary shareholders Basic and diluted(8.39)(2.33)(1.42)(0.20) ZEEKR INC. UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (Amounts in millions, except share and per share data and otherwise noted)Six Months Ended June 30June 30June 30 202420252025 RMBRMBUS$ Loss from operations(3,963)(974)(135) Share-based compensation expenses94715321 Non-GAAP loss from operations(3,016)(821)(114) Net loss(4,484)(1,050)(146) Share-based compensation expenses94715321 Non-GAAP net loss(3,537)(897)(125) Net loss attributable to ordinary shareholders(4,858)(1,112)(155) Share-based compensation expenses94715321 Non-GAAP net loss attributable to ordinary shareholders of Zeekr Group (3,911)(959)(134)Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share Basic and diluted2,150,933,4442,557,003,7072,557,003,707 Non-GAAP net loss per ordinary share attributed to ordinary shareholders Basic and diluted(1.82)(0.38)(0.05) Weighted average number of ADS used in calculating Non-GAAP net loss per ADS Basic and diluted215,093,344255,700,371255,700,371 Non-GAAP net loss per ADS attributed to ordinary shareholders Basic and diluted(18.18)(3.75)(0.52) View original content: SOURCE ZEEKR Intelligent Technology Holding Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Asian shares are mixed after days of gains driven by hopes for US rate cuts
MANILA, Philippines (AP) — Asian shares were mixed on Thursday after days of gains driven by hopes for lower U.S. interest rates, while U.S. futures slipped. In Tokyo, the Nikkei 225 fell 1.4% to 42,657.94 as investors sold to lock in recent gains that have taken the benchmark to all-time records. The Japanese yen rose against the dollar after U.S. Treasury Secretary Scott Bessent said in an interview with Bloomberg that Japan was 'behind the curve' in monetary tightening. He was referring to the slow pace if increases in Japan's near-zero interest rates. Low interest rates tend to make the yen weaker against the dollar, giving Japanese exporters a cost advantage in overseas sales. The dollar fell to 146.55 Japanese yen early Thursday, down from 147.39 yen. The euro fell to $1.1703 from $1.1705. In Chinese markets, Hong Kong's Hang Seng index shed less than 0.1% to 25,597.85, while the Shanghai composite index gained 0.2% to 3,690.88. South Korea's Kospi slid 0.3% to 3,215.61, while Australia's S&P ASX 200 index added 0.5% to 8,871.80. Taiwan's TAIEX fell 0.4%, while India's Sensex edged 0.1% higher. 'Asian markets opened today like a party that ran out of champagne before midnight — the music still playing, but the dance floor thinning out,' Stephen Innes of SPI Asset Management said in a commentary. The futures for the S&P 500 and the Dow Jones Industrial Average were down less than 0.1%. On Wednesday, U.S. stocks ticked higher, extending a global rally fueled by hopes the Federal Reserve will cut U.S. interest rates. The S&P 500 rose 0.3% to 6,466.58, coming off its latest all-time high. The Dow climbed 1% to 44,922.27, while the Nasdaq composite added 0.1% to its own record set the day before, closing at 21,713.14. Treasury yields eased in the bond market in anticipation that the Fed will cut its main interest rate for the first time this year at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, though they risk worsening inflation. Stocks of companies on Wall Street that could benefit most from lower interest rates helped lead the way. PulteGroup climbed 5.4%, and Lennar rose 5.2% as part of a broad rally for homebuilders and others in the housing industry. Lower rates could make mortgages cheaper to get, which could spur more buying. The cryptocurrency exchange company Bullish ended its debut day of trading after an initial public offering of more than $10 billion with a gain of nearly 84% to $68 a share. The hopes for lower interest rates are helping to drown out criticism that the U.S. stock market has broadly grown too expensive after its big leap since hitting a low in April. President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed Chair Jerome Powell while doing so. But the Fed has hesitated of the possibility that Trump's sweeping higher tariffs could make inflation much worse. Fed officials have said they want to see more fresh data about inflation before moving. On Thursday, a report will show how bad inflation was at the wholesale level across the United States. Economists expect it to show inflation accelerated a touch to 2.4% in July from 2.3% in June. In other dealings early Thursday, U.S. benchmark crude rose 24 cents to $62.89 per barrel. Brent crude, the international standard, added 27 cents to $65.90 per barrel. ___ AP Business Writer Stan Choe contributed. Teresa Cerojano, The Associated Press
