ZEEKR Intelligent Technology Q2 Net Loss Narrows Amid Expense Decline, Revenue Falls

ZEEKR Intelligent Technology reported a narrower net loss of RMB 394 million for Q2, compared to a loss of RMB 2.876 billion in the same period last year. Net loss per share was RMB 0.15, down from RMB 1.25 per share a year ago. Revenue slipped to RMB 27.431 billion, down from RMB 27.671 billion in the previous year. Total vehicle deliveries were 130,866 units, higher than 119,755 vehicles last year.

Hangzhou, China — Zeekr Intelligent Technology Holding Limited (NYSE: ZK), a leading premium new energy vehicle group, has announced its unaudited financial results for the second quarter of 2025. The company reported a narrower net loss of RMB 394 million, a significant improvement compared to the loss of RMB 2.876 billion in the same period last year. Net loss per share decreased to RMB 0.15, down from RMB 1.25 per share a year ago.

Revenue for the second quarter of 2025 was RMB 27.431 billion, down from RMB 27.671 billion in the previous year. Total vehicle deliveries were 130,866 units, representing a 9.3% year-over-year increase and a 14.8% quarter-over-quarter increase. The Zeekr brand delivered 49,337 vehicles, while Lynk & Co delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models.

Vehicle sales were RMB 22,916 million for the second quarter of 2025, up 2.2% year-over-year and 20.0% quarter-over-quarter. The year-over-year increase was primarily 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 due to the launch of new models during the second quarter of 2025.

Gross profit for the second quarter of 2025 was RMB 5,656 million, up 13.3% year-over-year and 34.3% quarter-over-quarter. Gross margin improved to 20.6%, compared to 18.0% in the previous year. Vehicle margin was 17.3%, up from 11.5% in the second quarter of 2024.

Operating expenses decreased significantly. Research and development expenses were RMB 2,146 million, down 42.9% year-over-year and 26.2% quarter-over-quarter. Selling, general, and administrative expenses were RMB 3,364 million, down 9.7% year-over-year and up 27.2% quarter-over-quarter.

Income from operations was RMB 285 million, compared to a loss of RMB 2,269 million in the second quarter of 2024. Non-GAAP income from operations, excluding share-based compensation expenses, was RMB 315 million, compared to a non-GAAP loss of RMB 1,325 million in the second quarter of 2024.

Net loss for the second quarter of 2025 was RMB 287 million, down 88.8% year-over-year and 62.4% quarter-over-quarter. Non-GAAP net loss was RMB 257 million, down 84.2% year-over-year and 59.8% quarter-over-quarter.

Zeekr Group has made significant strides in improving its financial performance, driven by increased vehicle deliveries and cost-saving initiatives. The company continues to focus on innovation and expanding its market presence through strategic launches and partnerships.

References:
[1] https://www.marketscreener.com/news/zeekr-group-reports-second-quarter-2025-unaudited-financial-results-ce7c51d8da80f12d