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ZEEKR Intelligent Technology (ZK) investor relations material
ZEEKR Intelligent Technology Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Total vehicle deliveries reached 140,195 in Q3 2025, up 12.5% year-over-year and 7.1% quarter-over-quarter, with Zeekr and Lynk & Co brands contributing significantly.
October 2025 deliveries surged to 61,636 units, a 20.5% increase from the previous month.
Financial highlights
Total revenues were RMB31,562 million ($4,434 million), up 9.1% year-over-year and 15.1% quarter-over-quarter.
Vehicle sales revenue was RMB26,527 million ($3,726 million), up 7.3% year-over-year and 15.8% quarter-over-quarter.
Gross profit reached RMB6,046 million ($850 million), a 37.1% year-over-year increase.
Gross margin improved to 19.2% from 15.2% a year ago, but declined from 20.6% in Q2 2025.
Net loss was RMB307 million ($43 million), down 84.9% year-over-year but up 7.0% quarter-over-quarter.
Adjusted net loss (non-GAAP) was RMB265 million ($37 million), down 86.6% year-over-year.
Cash and cash equivalents and restricted cash stood at RMB8,763 million ($1,231 million) as of September 30, 2025.
Outlook and guidance
Management highlighted ongoing cost-saving initiatives and new model launches as key drivers for future growth.
Forward-looking statements caution about inherent risks and uncertainties impacting future results.
- Q2 2025 featured robust delivery growth, margin expansion, and sharply reduced net loss.ZK
Q2 2025 - Record Q3 deliveries, revenue growth, and Lynk & Co integration drive margin gains.ZK
Q3 2024 - Q2 2024 saw record deliveries, 58% revenue growth, margin gains, and a reduced adjusted net loss.ZK
Q2 2024 - Q1 deliveries surged 117% year-over-year, with strong margins and robust 2024 growth targets.ZK
Q1 2024 - Q1 2025 deliveries up 21%, margins improved, and new models drive future growth.ZK
Q1 2025 - 2025 sales target is 2.71 million units, with NEV and Zeekr growth driving global expansion.ZK
Q4 2024 TU - Record sales, margin gains, and global expansion set the stage for 2025 growth and profitability.ZK
Q4 2024
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