Fortuna intersects 7.2 g/t Au over 31.5 meters at Kingfisher, Séguéla Mine, Côte d'Ivoire
Paul Weedon, Senior Vice President of Exploration at Fortuna, commented, 'Exploration drilling at Kingfisher has moved to infilling and improving the resource confidence along the 1-kilometer strike length of the current resource pit, with several notable intersections including 7.2 g/t Au over an estimated true width of 31.5 meters in drill hole SGRC2278.' Mr. Weedon continued, 'At the Sunbird deposit, deep exploration drilling testing the southern extent has continued to return excellent results, including 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215, representing the deepest intercept to date, with mineralization remaining open at depth and down plunge.'
Kingfisher deposit
Once the infill program and near exploration are successfully completed, we expect to migrate the Kingfisher resources into the Séguéla Mine Mineral Reserves in 2025.
Drilling highlights include:
An additional 100 drill holes, totaling 10,978 meters of a planned 28,000-meter drilling program, have been completed at the Kingfisher deposit (see Figure 1) as part of the resource confidence infill program (see Figure 2). Drilling remains ongoing across the current pit-constrained Inferred Resource and will also extend to test the immediate margins, both at depth and along strike, where late 2024 drilling identified several promising intervals intersected after the initial resource estimate was completed ( refer to Fortuna's news release dated December 16, 2024).
The recent drilling has continued to highlight the widths and grade tenor intersected in the first drilling phase, supporting and refining the geological interpretation. Kingfisher remains open at depth for most of the drilled 2-kilometer strike length, with the deepest drilling testing to only approximately 250 meters below surface (refer to Figure 2).
Figure 1: Séguéla Mine deposit locations
Figure 2: Kingfisher deposit long-section - looking west
Sunbird deposit
Drilling has now extended mineralization approximately 700 meters to the south beyond the limit of the current underground Inferred Resource and some 600 meters below surface.
Drilling highlights include:
Results from a further 10 holes, totaling 5,120 meters of a planned 12,000-meter drilling program have been received, including an interval of 4.3 g/t Au over a true width of 23.1 meters from 733 meters in drill hole SGRD2215, which is the deepest intersection drilled at Séguéla (refer to Figure 3).
The last phase of the current program will step out above and below the current intersection to further refine the geometry and controls on the interpreted mineralized shoot during the second quarter of 2025.
Figure 3: Sunbird long section - looking west
Refer to Appendix 1 for full details of the drill holes and assay results for this drill program at the Séguéla Gold Mine.
Quality Assurance & Quality Control (QA - QC)
All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the Company's personnel.
All reverse circulation (RC) drilling used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5 percent representative sample for submission to the analytical laboratory. The residual 87.5 percent samples were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company-controlled core yard.
All diamond drilling (DD) drill holes started with HQ sized diameter, before reducing to NQ diameter diamond drill bits on intersecting fresh rock. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the project site. The other half was sampled, catalogued, and placed into sealed bags and securely stored at the site until shipment.
All RC and DD samples were transported to ALS's preparation laboratory in Yamoussoukro, Côte d'Ivoire, before also being transported via commercial courier to ALS's facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples.
Qualified Person
Paul Weedon, Senior Vice President, Exploration for Fortuna Mining Corp., is a Qualified Person as defined by National Instrument 43-101 being a member of the Australian Institute of Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, including the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process.
About Fortuna Mining Corp.
Fortuna Mining Corp. is a Canadian precious metals mining company with four operating mines and exploration activities in Argentina, Burkina Faso, Côte d'Ivoire, Mexico and Peru, as well as the Diamba Sud Gold Project located in Senegal. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.
ON BEHALF OF THE BOARD
Jorge A. Ganoza
President, CEO, and Director
Fortuna Mining Corp.
Investor Relations:
Forward-looking Statements
This news release contains forward-looking statements which constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 'Forward-looking Statements'). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements in this news release include, without limitation, statements about further extension potential at the Kingfisher and Sunbird deposits; statements that the Sunbird deposit continues to support underground mining potential; the Company's expectations regarding drilling in the second quarter of 2025 to step out and above of the current interception to refine the geology and controls on the intercepted mineralized shoot at the Sunbird deposit; mineral reserve and mineral resource estimates; expectations regarding additional drilling and exploration programs planned; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as 'estimated', 'potential', 'open', 'future', 'assumed', 'projected', 'used', 'detailed', 'has been', 'gain', 'planned', 'reflecting', 'will', 'containing', 'remaining', 'to be', or statements that events, 'could' or 'should' occur or be achieved and similar expressions, including negative variations. Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for gold, silver, and other metals; the timing and success of the Company's proposed exploration programs; technological and operational hazards in Fortuna's mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor, materials, supplies and services; fluctuations in currencies; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under 'Risk Factors' in the Company's Annual Information Form for the financial year ended December 31, 2023. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding the results from the exploration programs conducted at the Company's mineral properties including the Séguéla Mine; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's information derived from its exploration programs at the Company's mineral properties; current mineral resource and reserve estimates; the presence and continuity of mineralization at the Company's properties; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements.
Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources
Reserve and resource estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101") and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies.
Appendix 1
Séguéla Mine drill program details of the drill holes and assay results for the Kingfisher and Sunbird deposits
Kingfisher deposit
HoleID
Easting
(WGS84_29N)
Northing
(WGS84_29N)
Elevation
(m)
EOH1,2
Depth
(m)
UTM
Azimuth
Dip
Depth2,3
From
(m)
Depth2
To
(m)
Drilled2
Width
(m)
ETW4
(m)
Au
(ppm)
Hole
Type5
Area
SGRD2131 743746 892908 428 199.6 90 -60 159 169 10 8.5 0.8 RCD Kingfisher
178 190 12 10.2 3.9 RCD Kingfisher
incl 184 185 1 0.9 21.2 RCD Kingfisher
SGRD2135 743631 892500 414 220 90 -60 NSI RCD Kingfisher
SGRD2137 743719 892906 429 260.2 90 -60 204 213 9 7.7 1.0 RCD Kingfisher
SGRD2138 743580 892500 426 290 90 -60 192 197 5 4.3 1.6 RCD Kingfisher
SGRD2139 743584 892546 430 105 90 -60 NSI RCD Kingfisher
SGRD2146 743584 892545 430 291.3 90 -60 218 230 12 10.2 1.1 RCD Kingfisher
SGRC2147 743604 892802 429 60.0 90 -60 Abandon RC Kingfisher
SGRD2148 743772 893004 413 228 90 -60 161 179 18 15.3 0.9 RCD Kingfisher
SGRD2149 743570 892395 422 295 90 -60 187 195 8 6.8 4.1 RCD Kingfisher
incl 190 191 1 0.9 25.6 RCD Kingfisher
200 204 4 3.4 3.5 RCD Kingfisher
incl 201 202 1 0.9 11.4 RCD Kingfisher
SGRD2150 743604 892802 429 370.4 90 -60 266 297 31 26.4 2.4 RCD Kingfisher
incl 267 268 1 0.9 16.1 RCD Kingfisher
SGRD2151 743526 892592 445 330 90 -60 NSI RCD Kingfisher
SGRD2152 743836 893102 414 160.3 90 -60 121 127 6 5.1 2.3 RCD Kingfisher
SGRD2153 743718 892955 429 291.3 90 -60 223 234 11 9.4 10.6 RCD Kingfisher
incl 223 224 1 0.9 65.9 RCD Kingfisher
and 227 228 1 0.9 44.8 RCD Kingfisher
SGRD2154 743456 892592 463 399 90 -60 384 388 4 3.4 2.6 RCD Kingfisher
SGRD2155 743808 893102 413 201.3 90 -60 135 138 3 2.6 1.8 RCD Kingfisher
164 168 4 3.4 1.3 RCD Kingfisher
SGRD2156 743617 892000 439 168 90 -60 69 81 12 10.2 0.5 RCD Kingfisher
SGRD2157 743828 893200 427 150 90 -60 NSI RCD Kingfisher
SGRC2252 743868 892982 375 61 90 -60 22 33 11 9.4 1.7 RC Kingfisher
SGRC2253 743889 892981 389 30 90 -60 NSI RC Kingfisher
SGRC2254 743894 893031 393 36 90 -60 NSI RC Kingfisher
SGRC2255 743850 892732 366 50 90 -60 NSI RC Kingfisher
SGRC2256 743701 892480 382 66 90 -60 37 39 2 1.7 4.6 RC Kingfisher
SGRC2257 743802 892731 388 100 90 -60 12 25 13 11.1 1.7 RC Kingfisher
36 55 19 16.2 0.7 RC Kingfisher
SGRC2258 743888 892936 373 30 90 -60 NSI RC Kingfisher
SGRC2259 743858 892936 378 60 90 -60 35 44 9 7.7 2.7 RC Kingfisher
SGRC2260 743827 892733 368 61 90 -60 NSI RC Kingfisher
SGRC2261 734802 892887 398 90 90 -60 NSI RC Kingfisher
SGRC2262 743827 892888 394 86 90 -60 67 68 1 0.9 5.4 RC Kingfisher
SGRC2263 743772 892730 388 126 90 -60 65 76 11 9.4 0.6 RC Kingfisher
85 105 20 17.0 3.6 RC Kingfisher
incl 97 98 1 0.9 11.1 RC Kingfisher
and 102 103 1 0.9 27.2 RC Kingfisher
SGRC2264 743853 892888 391 54 90 -60 10 27 17 14.5 8.4 RC Kingfisher
incl 19 21 2 1.7 62.6 RC Kingfisher
31 38 7 6.0 6.9 RC Kingfisher
incl 31 32 1 0.9 43.2 RC Kingfisher
SGRC2265 743852 892833 389 61 90 -60 20 31 11 9.4 1.3 RC Kingfisher
SGRC2266 743825 892834 389 80 90 -60 21 33 12 10.2 1.4 RC Kingfisher
55 66 11 9.4 1.7 RC Kingfisher
SGRC2267 743799 892832 389 113 90 -60 41 61 20 17.0 0.7 RC Kingfisher
70 73 3 2.6 1.8 RC Kingfisher
82 104 22 18.7 0.9 RC Kingfisher
SGRC2268 743750 892679 390 134 90 -60 82 109 27 23.0 3.4 RC Kingfisher
incl 95 97 2 1.7 27.5 RC Kingfisher
SGRC2269 743774 892835 393 133 90 -60 87 99 12 10.2 0.9 RC Kingfisher
118 127 9 7.7 1.2 RC Kingfisher
SGRC2270 743773 892680 388 88 90 -60 33 36 3 2.6 3.9 RC Kingfisher
57 72 15 12.8 5.3 RC Kingfisher
incl 67 69 2 1.7 34.8 RC Kingfisher
SGRC2271 743750 892835 414 36 90 -60 Abandon RC Kingfisher
SGRC2273 743824 892682 382 70 90 -60 NSI RC Kingfisher
SGRD2275 743747 892778 392 150 90 -60 122 148 26 22.1 3.2 RCD Kingfisher
incl 138 139 1 0.9 13.7 RCD Kingfisher
and 145 146 1 0.9 27.4 RCD Kingfisher
SGRC2276 743726 892478 379 110 90 -60 41 66 25 21.3 1.8 RC Kingfisher
incl 60 61 1 0.9 13.6 RC Kingfisher
SGRD2277 743799 892681 385 90 90 -60 15 30 15 12.8 1.1 RCD Kingfisher
SGRC2278 743701 892480 382 132 90 -60 54 65 11 9.4 2.6 RC Kingfisher
74 76 2 1.7 5.0 RC Kingfisher
91 128 37 31.5 7.2 RC Kingfisher
incl 109 110 1 0.9 13.5 RC Kingfisher
and 114 115 1 0.9 18.7 RC Kingfisher
and 118 120 2 1.7 28.9 RC Kingfisher
and 123 124 1 0.9 128.9 RC Kingfisher
and 125 126 1 0.9 10.8 RC Kingfisher
SGRC2279 743776 892783 393 120 90 -60 72 109 37 31.5 1.2 RC Kingfisher
SGRD2280 743725 892629 397 151 90 -60 89 108 19 16.2 8.1 RCD Kingfisher
incl 96 100 4 3.4 18.7 RCD Kingfisher
and 106 108 2 1.7 24.6 RCD Kingfisher
and 112 114 2 1.7 6.2 RCD Kingfisher
incl 113 114 1 0.9 11.8 RCD Kingfisher
SGRC2281 743798 892477 383 50 90 -60 NSI RC Kingfisher
SGRC2282 743751 892631 395 117 90 -60 58 75 17 14.5 1.2 RC Kingfisher
79 87 8 6.8 3.6 RC Kingfisher
incl 79 80 1 0.9 19.1 RC Kingfisher
SGRC2283 743776 892478 399 70 90 -60 NSI RC Kingfisher
SGRC2284 743773 892631 390 100 90 -60 33 48 15 12.8 1.0 RC Kingfisher
SGRC2285 743725 892430 383 102 90 -60 33 75 42 35.7 2.5 RC Kingfisher
incl 36 37 1 0.9 11.0 RC Kingfisher
and 53 54 1 0.9 11.6 RC Kingfisher
and 65 66 1 0.9 13.2 RC Kingfisher
SGRC2286 743801 892801 391 86 90 -60 66 77 11 9.4 0.8 RC Kingfisher
SGRC2287 743800 892631 386 81 90 -60 2 12 10 8.5 6.7 RC Kingfisher
incl 5 6 1 0.9 30.3 RC Kingfisher
and 9 10 1 0.9 16.1 RC Kingfisher
SGRC2288 743775 892428 380 60 90 -60 NSI RC Kingfisher
SGRC2289 743751 892433 379 80 90 -60 NSI RC Kingfisher
SGRC2290 743802 892581 385 50 90 -60 NSI RC Kingfisher
SGRC2291 743799 892429 379 40 90 -60 NSI RC Kingfisher
SGRC2292 743776 892583 380 70 90 -60 3 16 13 11.1 0.8 RC Kingfisher
SGRC2293 743751 892581 383 97 90 -60 34 56 22 18.7 2.1 RC Kingfisher
incl 52 53 1 0.9 13.6 RC Kingfisher
and 55 56 1 0.9 11.6 RC Kingfisher
SGRC2295 743751 892479 382 90 90 -60 NSI RC Kingfisher
SGRC2296 743824 892781 390 80 90 -60 2 8 6 5.1 1.0 RC Kingfisher
19 39 20 17.0 0.9 RC Kingfisher
SGRC2297 743852 892782 382 60 90 -60 3 18 15 12.8 1.0 RC Kingfisher
SGRC2298 743725 892582 391 132 90 -60 66 79 13 11.1 1.5 RC Kingfisher
incl 78 79 1 0.9 10.3 RC Kingfisher
SGRC2299 743800 892532 377 50 90 -60 NSI RC Kingfisher
SGRC2300 743775 892531 379 70 90 -60 NSI RC Kingfisher
SGRC2302 743779 892379 376 36 90 -60 NSI RC Kingfisher
SGRC2303 743752 892380 377 60 90 -60 NSI RC Kingfisher
SGRC2304 743751 892730 391 135 90 -60 19 20 1 0.9 5.6 RC Kingfisher
74 80 6 5.1 1.3 RC Kingfisher
90 132 42 35.7 2.7 RC Kingfisher
incl 118 119 1 0.9 23.1 RC Kingfisher
and 130 131 1 0.9 33.9 RC Kingfisher
SGRC2306 743752 892528 383 90 90 -60 22 29 7 6.0 1.1 RC Kingfisher
SGRC2307 743728 892528 388 110 90 -60 48 59 11 9.4 1.0 RC Kingfisher
76 85 9 7.7 2.8 RC Kingfisher
SGRC2308 743726 892380 377 80 90 -60 19 36 17 14.5 2.3 RC Kingfisher
incl 34 35 1 0.9 14.0 RC Kingfisher
SGRC2309 743701 892380 381 104 90 -60 46 88 42 35.7 3.3 RC Kingfisher
incl 71 72 1 0.9 12.1 RC Kingfisher
and 74 75 1 0.9 26.2 RC Kingfisher
and 79 80 1 0.9 18.1 RC Kingfisher
and 82 83 1 0.9 18.3 RC Kingfisher
SGRC2311 743674 892379 383 111 90 -60 42 48 6 5.1 1.7 RC Kingfisher
70 74 4 3.4 2.2 RC Kingfisher
78 95 17 14.5 0.7 RC Kingfisher
99 105 6 5.1 1.0 RC Kingfisher
SGRC2312 743700 892530 390 150 90 -60 72 78 6 5.1 1.4 RC Kingfisher
86 132 46 39.1 3.8 RC Kingfisher
incl 104 105 1 0.9 13.1 RC Kingfisher
and 110 111 1 0.9 11.6 RC Kingfisher
and 123 125 2 1.7 44.2 RC Kingfisher
SGRC2314 743776 892330 376 30 90 -60 NSI RC Kingfisher
SGRC2315 743749 892331 377 50 90 -60 NSI RC Kingfisher
SGRC2316 743726 892330 379 70 90 -60 6 10 4 3.4 1.9 RC Kingfisher
SGRC2317 743700 892581 396 130 90 -60 97 120 23 19.6 2.1 RC Kingfisher
SGRC2318 743700 892328 380 90 90 -60 36 70 34 28.9 2.2 RC Kingfisher
incl 52 53 1 0.9 23.6 RC Kingfisher
SGRC2320 743674 892330 399 108 90 -60 36 43 7 6.0 1.0 RC Kingfisher
64 78 14 11.9 1.3 RC Kingfisher
82 108 26 22.1 1.6 RC Kingfisher
incl 102 103 1 0.9 11.6 RC Kingfisher
SGRC2322 743676 892482 387 156 90 -60 108 130 22 18.7 2.1 RC Kingfisher
140 154 14 11.9 7.9 RC Kingfisher
incl 144 145 1 0.9 15.0 RC Kingfisher
and 149 150 1 0.9 68.5 RC Kingfisher
SGRC2325 743775 892278 375 30 90 -60 NSI RC Kingfisher
SGRC2328 743753 892279 369 50 90 -60 NSI RC Kingfisher
SGRC2329 743725 892277 377 70 90 -60 NSI RC Kingfisher
SGRC2330 743748 892226 375 40 90 -60 NSI RC Kingfisher
SGRD2331 743649 892380 377 150 90 -60 70 73 3 2.6 5.0 RCD Kingfisher
SGRD2332 743675 892531 405 174 90 -60 101 124 23 19.6 2.1 RCD Kingfisher
incl 109 110 1 0.9 10.8 RCD Kingfisher
158 163 5 4.3 1.8 RCD Kingfisher
SGRC2334 743725 892229 377 60 90 -60 NSI RC Kingfisher
SGRC2336 743701 892230 388 80 90 -60 15 29 14 11.9 1.2 RC Kingfisher
37 51 14 11.9 2.2 RC Kingfisher
incl 48 49 1 0.9 15.3 RC Kingfisher
SGRC2337 743675 892231 390 100 90 -60 43 74 31 26.4 3.5 RC Kingfisher
incl 44 45 1 0.9 18.7 RC Kingfisher
and 52 54 2 1.7 10.7 RC Kingfisher
78 91 13 11.1 2.6 RC Kingfisher
incl 81 82 1 0.9 13.4 RC Kingfisher
SGRD2341 743624 892232 391 132 90 -60 80 97 17 14.5 1.5 RCD Kingfisher
SGRC2342 743752 892182 376 30 90 -60 NSI RC Kingfisher
SGRC2343 743726 892182 377 50 90 -60 NSI RC Kingfisher
SGRC2344 743700 892179 378 70 90 -60 10 14 4 3.4 2.2 RC Kingfisher
18 40 22 18.7 3.9 RC Kingfisher
incl 24 25 1 0.9 23.7 RC Kingfisher
and 28 29 1 0.9 14.8 RC Kingfisher
and 35 36 1 0.9 20.7 RC Kingfisher
SGRC2345 743679 892179 391 94 90 -60 34 71 37 31.5 3.1 RC Kingfisher
incl 35 38 3 2.6 18.1 RC Kingfisher
SGRC2346 743650 892179 381 112 90 -60 53 54 1 0.9 6.7 RC Kingfisher
59 78 19 16.2 3.7 RC Kingfisher
incl 71 73 2 1.7 24.0 RC Kingfisher
SGRC2348 743602 892181 403 153 90 -60 90 103 13 11.1 1.4 RC Kingfisher
114 119 5 4.3 1.5 RC Kingfisher
126 134 8 6.8 1.9 RC Kingfisher
SGRC2351 743725 892132 405 30 90 -60 NSI RC Kingfisher
SGRC2352 743701 892131 405 72 90 -60 12 32 20 17.0 3.7 RC Kingfisher
incl 22 23 1 0.9 12.0 RC Kingfisher
and 26 27 1 0.9 16.7 RC Kingfisher
and 28 29 1 0.9 13.7 RC Kingfisher
SGRC2355 743721 892075 388 34 90 -60 NSI RC Kingfisher
SGRC2356 743698 892074 387 40 90 -60 NSI RC Kingfisher
SGRC2357 743676 892076 386 74 90 -60 35 49 14 11.9 1.0 RC Kingfisher
Notes:
1. EOH: End of hole
2. Depths and widths reported to nearest significant decimal place
3. NSI: No significant intercepts
4. ETW: Estimated true width
5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail
Sunbird deposit
HoleID
Easting
(WGS84_29N)
Northing
(WGS84_29N)
Elevation
(m)
EOH1,2
Depth
(m)
UTM
Azimuth
Dip
Depth2,3
From
(m)
Depth2
To
(m)
Drilled2
Width
(m)
ETW4
(m)
Au
(ppm)
Hole
Type5
Area
SGRD2205 742500 892435 554 450.2 90 -60 363 374 11 7.7 2.2 RCD Sunbird
406 414 8 5.6 3.3 RCD Sunbird
incl 407 408 1 0.7 11.0 RCD Sunbird
423 426 3 2.1 4.8 RCD Sunbird
incl 425 426 1 0.7 11.2 RCD Sunbird
434 440 6 4.2 2.4 RCD Sunbird
SGRD2206 742505 892550 553 456.1 90 -60 351 352 1 0.7 12.2 RCD Sunbird
444 448 4 2.8 2.3 RCD Sunbird
SGRD2207 742565 892485 565 370.2 90 -60 250 255 5 3.5 8.3 RCD Sunbird
incl 250 251 1 0.7 16.8 RCD Sunbird
and 252 253 1 0.7 10.9 RCD Sunbird
281 286 5 3.5 3.3 RCD Sunbird
incl 284 285 1 0.7 10.9 RCD Sunbird
301 307 6 4.2 6.0 RCD Sunbird
incl 304 305 1 0.7 11.2 RCD Sunbird
SGRD2208 742370 892125 596 630.1 90 -60 561 572 11 7.7 2.9 RCD Sunbird
incl 570 571 1 0.7 15.0 RCD Sunbird
583 591 8 5.6 9.3 RCD Sunbird
incl 585 586 1 0.7 60.5 RCD Sunbird
595 598 3 2.1 7.5 RCD Sunbird
incl 595 596 1 0.7 17.4 RCD Sunbird
SGRD2209 742445 892335 567 500.2 90 -60 466 482 16 11.2 1.9 RCD Sunbird
SGRD2211 742324 892026 603 708 90 -60 214 217 3 2.1 2.9 RCD Sunbird
648 682 34 23.8 3.9 RCD Sunbird
incl 670 672 2 1.4 38.0 RCD Sunbird
688 690 2 1.4 3.9 RCD Sunbird
SGRD2212 742540 892510 563 405 90 -60 339 371 32 22.4 6.3 RCD Sunbird
incl 342 344 2 1.4 12.6 RCD Sunbird
and 345 348 3 2.1 29.1 RCD Sunbird
and 349 350 1 0.7 14.9 RCD Sunbird
and 356 357 1 0.7 13.3 RCD Sunbird
SGRD2213 742575 892610 568 400.1 90 -60 308 319 11 7.7 2.2 RCD Sunbird
SGRD2214 742500 892360 564 420 90 -60 274 276 2 1.4 2.9 RCD Sunbird
320 328 8 5.6 1.4 RCD Sunbird
337 345 8 5.6 2.2 RCD Sunbird
incl 337 338 1 0.7 13.8 RCD Sunbird
354 362 8 5.6 2.4 RCD Sunbird
370 380 10 7.0 4.6 RCD Sunbird
incl 371 372 1 0.7 13.6 RCD Sunbird
and 373 374 1 0.7 13.2 RCD Sunbird
SGRD2215 742280 891928 600 780 90 -60 694 718 24 16.8 0.9 RCD Sunbird
723 728 5 3.5 1.0 RCD Sunbird
733 766 33 23.1 4.3 RCD Sunbird
incl 735 736 1 0.7 45.8 RCD Sunbird
and 741 742 1 0.7 10.4 RCD Sunbird
and 745 746 1 0.7 14.9 RCD Sunbird
Notes:
1. EOH: End of hole
2. Depths and widths reported to nearest significant decimal place
3. NSI: No significant intercepts
4. ETW: Estimated true width
5. RC: reverse circulation drilling | DD: diamond drilling tail | RCD: reverse circulation drilling with diamond tail
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bf784d28-59c1-43ef-b822-4428d673a584 https://www.globenewswire.com/NewsRoom/AttachmentNg/821a4021-e749-4f40-97f6-64f7b9c6646c https://www.globenewswire.com/NewsRoom/AttachmentNg/3d21f56e-1cc1-4965-a4b0-3c2d69d49a2f
A PDF accompanying this announcement is available at
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Zeekr Group Reports Second Quarter 2025 Unaudited Financial Results
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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20 minutes ago
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Circle stock jumps after first-ever public earnings
Stablecoin issuer Circle Internet Group is seeing its stock (NYSE: CRCL) rise yet again. Shares in the company are up more than 7% in early morning as of the time of this writing. At one point, shares were up as much as 10% after markets opened. These no-fee travel cards are gunning for Amex Platinum and Chase Sapphire Underwater mortgages are climbing in Florida and Texas housing markets Housing market shift: This map shows where home sellers are cutting prices the most The reason? Circle just posted its first quarterly earnings as a public company, and investors seem to like what they are seeing. Here's what you need to know. Circle posts its first quarterly results as a public company Today, Circle announced its Q2 2025 financial results—the first quarterly results the company has posted as a publicly traded business. The big number most investors seem to care about from Circle's Q2 earnings is its revenue. The company said that for the quarter, its total revenue grew to $658 million. That's a 53% increase year over year. It also said that the circulation of its stablecoin, USDC, grew 90% year over year to reach a total of $61.3 billion at the quarter's end. The more the circulation of Circle's USDC stablecoin grows, the more Circle stands to make. That's because Circle makes the majority of its revenues not from cryptocurrencies themselves, but from U.S. Treasuries. 'Circle, much like a bank, knows that only a fraction of all the USDC in circulation will be redeemed at any one time, so it only needs to keep a portion of reserves in cash to be instantaneously redeemable by USDC holders,' Mitrade points out. 'It invests the rest in short-term U.S. Treasuries.' This means that as the circulation of USDC grows, Circle stands to make more income from its investments in short-term U.S. Treasuries, thereby increasing its revenue. Yet despite the 53% revenue growth Circle announced, the company still posted a net loss of $482 million. That net loss was mainly attributed to IPO-related noncash charges, including stock-based compensation payouts. CRCL stock surged after its June IPO Despite charges related to its IPO significantly contributing to the company's Q2 net loss, Circle's public offering has been very good to investors. Since Circle went public in June, its stock surged. By the end of June, CRCL stock had risen 750%. Circle, like many crypto companies, has been greatly helped by a more friendly crypto regulatory environment under the Trump Administration. Those policies are why more cryptocurrency companies seem more interested in pursuing IPOs, including trading platform eToro, which did so in May, and cryptocurrency exchange Bullish, which is having its IPO tomorrow. Over the past month, however, CRCL stock has lost about 7.65% of its value. As of the time of this writing, with today's post-earnings boost, CRCL shares are hovering around $168.16. When the company went public in June, its IPO share price was $31 per share. This post originally appeared at to get the Fast Company newsletter:
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- Yahoo
JPMorgan Lifts PT on Nu Holdings (NU) to $16 From $14.50, Keeps an Overweight Rating
Nu Holdings Ltd. (NYSE:NU) is one of the best NYSE stocks to buy under $20. On June 30, JPMorgan raised the firm's price target on Nu Holdings Ltd. (NYSE:NU) to $16 from $14.50, keeping an Overweight rating on the shares. A wide angle shot of a team of bankers and financial advisors evaluating an investment portfolio on a touchscreen monitor. The firm told investors that it is 'bullish on the name,' and is raising its estimates by 4% in 2025 and 2026. It reasoned that it sees tailwinds ahead that comprise resilient loan growth, along with net interest margin and credit card loan yield potentially rebounding. Headquartered in George Town, Cayman Islands, Nu Holdings Ltd. (NYSE:NU) is a provider of digital banking services. While we acknowledge the potential of NU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
