Xiamen C&D 1H net income 840.7 million yuan

Xiamen C&D 1H net income 840.7 million yuan

Lotus Technology Inc. (NASDAQ: LOT), a leading global intelligent and luxury mobility provider, has released its unaudited financial results for the first half of 2025. The company reported a net loss of $313 million for the period, representing a 32% year-over-year (YoY) improvement. Revenue for the first half of 2025 reached $218 million, a 45% YoY increase. The gross margin for the period was 8.2%, compared to 12.8% in the same period of 2024.

Operating loss for the first half of 2025 was $263 million, a 40% YoY improvement. Adjusted EBITDA (non-GAAP) was a loss of $240 million for the period, a 37% YoY improvement. The company delivered over 2,800 vehicles in the first half of 2025, with deliveries primarily contributed by the China market. The upgraded Eletre hyper SUV became a dominant player in China’s premium luxury BEV SUV segment in the second quarter of 2025.

Lotus Technology also received up to $500 million in funding commitments from institutional investors and strategic partners. The company entered into a Master Credit Facility Framework Agreement with Zhejiang Geely Holding Group Company Limited, providing a non-revolving credit facility of up to RMB1,600,000,000. Lotus Robotics, a subsidiary of the company, entered into a Memorandum of Understanding (MoU) with a strategic partner for AI and intelligent driving technologies, including the exploration of a Robotaxi project in Saudi Arabia.

The company's CEO, Qingfeng Feng, commented on the results, "Amidst volatile market conditions, our ability to deliver standout performance in China's fiercely competitive landscape underscores the resilience of our strategy. We are grateful to our investors for their confidence in our vision – the recent capital injections have not only fortified our cash positions but will also accelerate our transformation into a next-generation mobility leader. We are confident that we will further strengthen our operations and deliver sustainable value for our shareholders over the long-term."

The company's CFO, Daxue Wang, added, "With deliveries of the upgraded models ramping up in China during the second quarter, we achieved a QoQ revenue growth of 35%, a testament to our product competitiveness. Notably, our gross margin has rebounded meaningfully from the trough as compared with the full year of 2024, supported by disciplined cost controls. We remain committed to enhancing operational efficiency to continue to deliver value for our customers, partners, and shareholders."

Lotus Technology will host an earnings conference call at 8:00 AM U.S. Eastern Time on Friday, August 29, 2025, to discuss these results further.

References:

[1] https://seekingalpha.com/news/4490328-lotus-technology-reports-1h-results
[2] https://www.marketscreener.com/news/lotus-technology-reports-unaudited-second-quarter-and-first-half-2025-financial-results-ce7c50dcd081f522