What is the global delivery volume of Company as of the third quarter? How has the delivery volume grown?
Over 7,600 vehicles were delivered in the first nine months of 2024, a year-on-year increase of 136%. Total revenue reached $653 million, more than doubling year-on-year. Revenue from the intelligent driving business generated from customers other than Company surged to $11 million, with a year-on-year growth of 450%. Company launched Hyper Hybrid EV technology that provides high performance with a combined range of over 1,100 kilometers. New York – Nov 21, 2024 – Company. (“Company Tech” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its unaudited financial results for the third quarter and first nine months ended September 30, 2024. In the first nine months of 2024, Company delivered over 7,600 vehicles, marking a 136% increase compared to the same period in 2023, when 3,221 vehicles were delivered. The third quarter alone saw 2,744 vehicles delivered, a 54% increase over the 1,782 vehicles delivered in Q3 2023. Total revenue for the first nine months of 2024 amounted to $653 million, representing an impressive 105% year-on-year growth from the $318 million reported in the same period of 2023. In the third quarter of 2024, revenue was $255 million, showing a 36% increase from the $188 million in Q3 2023. The intelligent driving business showed remarkable growth, with revenue from external customers reaching $11 million, reflecting a year-on-year growth of 450%. Despite this, the gross profit margins declined, with Q3 2024 margins at 3%, down from 15% in Q3 2023. For the first nine months of 2024, the gross profit margin was 9%, compared to 11% in the same period of 2023. [Table Level]  
- Table Title: Sales Figures by Vehicle Type  
- Table Summary: The table provides sales figures for different vehicle types from January to September for the years 2024 and 2023, along with the year-over-year percentage change. It categorizes the sales into "Lifestyle SUV and Sedan" and "Sportscars," then displays a total for both categories.  
- Context: The table reflects the growth in vehicle sales for Company in the first nine months of 2024, highlighting a significant increase compared to the same period in 2023. This is part of Company's broader strategy to expand and innovate in the car market, including advancements in electric vehicle technology and strategic partnerships.  
- Special Notes: The percentage change is labeled as the year-over-year change (YoY).  

[Row Level]  
- Row 1: Sales of "Lifestyle SUV and Sedan" for January to September 2024 were 3,983 units, compared to 1,762 units in the same period of 2023, reflecting a 126% increase year-over-year.  
- Row 2: "Sportscars" sales for January to September 2024 amounted to 3,634 units, an increase from 1,459 units in 2023, showing a 149% year-over-year growth.  
- Row 3: The total sales for both categories from January to September 2024 reached 7,617 units, up from 3,221 units in 2023, which is a 136% year-over-year increase. [Table Level]
- Table Title: Regional Performance Overview for January to September 2024 and 2023
- Table Summary: This table provides a comparative analysis of performance across different regions for the periods of January to September in 2024 and 2023. It presents the number of units sold and revenue figures alongside the percentage contribution from each region for both years.
- Context: The table is part of a broader report detailing Company's market expansion and financial highlights for 2024, including new deliveries and technological advancements.
- Special Notes: The percentages indicate the share of each region in the total outcome for the respective years.

[Row Level]
Row 1: In Europe, January to September 2024 saw 2,683 units sold or revenue, making up 35% of the regional distribution, compared to 568 units in the same period of 2023, which constituted 18% of the regional share.

Row 2: China recorded 1,880 units sold or revenue in January to September 2024, equating to 25% of the regional total, whereas, in 2023, there were 1,993 units sold, accounting for 62%.

Row 3: North America reported 1,665 units sold or revenue for January to September 2024, contributing 22% to the region, with no corresponding data shown for 2023.

Row 4: The rest of the world achieved 1,389 units sold or revenue in January to September 2024, representing 18% of the region, while in 2023, there were 660 units sold, making up 20%.

Row 5: Total figures for January to September 2024 equaled 7,617 units sold or revenue across all regions, with the entire distribution being 100%, compared to 3,221 units sold in the same timeframe for 2023, also reflecting 100% distribution. "Company continued to deliver strong operational growth, with total deliveries of 7,617 units in the first nine months of 2024, up by 136% year-on-year, driven by the European market," said Person A, Chief Executive Officer. "Company is excited to see significant progress in its intelligent driving business across the world, with revenue from customers other than Company surging to \$11 million, reflecting a year-on-year growth of 450%, contributing about 2% of total revenue. Company also launched Hyper Hybrid EV technology, in line with evolving market demands. The company remains committed to executing the ‘Win26’ Plan to drive efficiency and competitiveness, delivering sustainable value for its shareholders and investors." "Company has made continual improvements and streamlined its operations to drive efficiency, optimize resources, and achieve a reduction in operating expenses for four consecutive quarters," said Person B, Chief Financial Officer. In the first nine months of 2024, Company achieved total deliveries of 7,617 units, representing a 136% year-on-year (YoY) increase. Global allocation was relatively diversified, with each region contributing 18-35% of the total deliveries in the first nine months of 2024, powered by over 200 stores in prime locations worldwide. The European market continued to expand, with a year-on-year increase of 372% in deliveries during the first nine months of 2024. The Rest of the World region achieved a year-on-year growth of 110% as Company continued to make steady progress in its expansion into new markets. In the third quarter of 2024, the deliveries of the Emira commenced in South Africa and India, and of the Eletre in Japan, South Korea, and the Philippines. The Eletre Carbon, a high-performance variant tailored for the North American market, was revealed and is expected to commence deliveries in the first half of 2025. Deliveries of bespoke and collection versions of both the Eletre (SUV) and the Emeya (GT, Sedan) also commenced in the third quarter. Company continues to drive technological innovation to meet market demand. In the first nine months of 2024, Company delivered 7,617 vehicles, which marks a 136% increase from the 3,221 units delivered during the same period in 2023. Revenue reached $653 million, representing a 105% year-on-year increase compared to $318 million in 2023. The cost of revenues also rose significantly by 109%, totaling $594 million compared to $284 million the previous year. As a result, gross profit was $59 million, up 75% from $34 million in 2023. However, the gross profit margin decreased to 9% from 11% in the previous year. For the third quarter of 2024, 2,744 vehicles were delivered, a 54% increase from 1,782 in the same quarter of 2023. Revenue in Q3 2024 was $255 million, a 36% increase over $188 million in Q3 2023. The cost of revenues for this quarter was $247 million, up 54% compared to $160 million in Q3 2023.
In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. As of June 30, 2024, Company had 2,989 full-time employees globally, including in China and Europe, among which approximately 54.6% belong to the R&D division. The results of operations are affected by the following company-specific factors. The results of operations depend significantly on Company's ability to achieve vehicle delivery targets, which impacts vehicle sales revenue. It is critical for Company to successfully manage production ramp-up and quality control, in cooperation with Counterparty A, to deliver vehicles to customers in targeted volume and of high quality. Currently, Company works with a BEV manufacturing facility in Wuhan, China, which is owned and operated by Counterparty A. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of December 31, 2023, Company had 215 stores in its global distribution network, and plans to expand the retail network to over 300 stores by 2025. In 2023, Company delivered a total of 6,970 vehicles, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. As of December 31, 2023, Company had 3,180 full-time employees globally, including in China and Europe, among which approximately 56.7% belong to the R&D division. Company recently disclosed to multiple automakers the output of intelligent driving solutions. As the intelligent driving business continues to develop, Company expects this business to continue contributing high profit revenue and driving rapid growth in its performance. "While the gross margin for the first nine months of 2024 was 9%, shrinking 2 percentage points compared to the same period of 2023 due to proactive management of inventory in response to trade protectionism, inflation impacts, and macroeconomic uncertainties, the high-margin intelligent driving business has secured \$130 million in total contract value to boost future growth. Company is committed to advancing the ‘Win26’ Plan target to continuously improve profitability and create long-term value." [Table Level]
- Table Title: Breakdown of Revenues by Type
- Table Summary: The table provides a detailed breakdown of revenues by type for the years ended December 31, 2023, 2022, and 2021. It includes data on sales of goods and services revenues, expressed in thousands of US dollars and percentages of total revenues.
- Context: The table is part of a report discussing Company's diverse revenue streams, including sales of vehicles, parts, tools, and services such as automotive design and development.
- Special Notes: The numbers are presented in thousands, except for percentages.

[Row Level]
Row 1: For the year ended December 31, 2023, revenues from sales of goods amounted to US$660,158, representing 97.2% of the total revenue of US$679,008.

Row 2: For the year ended December 31, 2023, services revenues totaled US$18,850, which constituted 2.8% of the total revenue.

Row 3: For the year ended December 31, 2022, revenues from sales of goods were US$1,186, accounting for 12.4% of the year's total revenue of US$9,557.

Row 4: For the year ended December 31, 2022, services revenues were US$8,371, making up 87.6% of the total revenue.

Row 5: For the year ended December 31, 2021, sales of goods generated US$369, which was 10.0% of the total revenue of US$3,687.

Row 6: For the year ended December 31, 2021, services revenues reached US$3,318, comprising 90.0% of the total revenue. Company's total revenues increased by US$669.5 million from US$9.6 million for the year ended December 31, 2022, to US$679.0 million for the year ended December 31, 2023, primarily due to the ramp-up of sales volume of battery electric vehicle (BEV) lifestyle models and the increase in sales from the distribution of Company-brand sports cars, auto parts, and peripheral products, as well as automotive design and development services provided to original equipment manufacturer (OEM) customers. Sales of goods. Company's sales of goods revenue increased by US$659.0 million from US$1.2 million for the year ended December 31, 2022, to US$660.2 million for the year ended December 31, 2023, due to the increase in sales from battery electric vehicle (BEV) lifestyle models of US$465.3 million, sports cars of US$183.3 million, and auto parts and peripheral products of US$10.4 million. Service revenues. Company believes it benefits from a number of competitive advantages:  
● Early mover in the luxury battery electric vehicle (BEV) market.  
● Iconic brand with a racing heritage.  
● Proprietary next-generation technology built on world-class research and development (R&D) capabilities.  
● Asset-light business model supported by the Counterparty A ecosystem.  
● Focus on sustainability targeting a fully electric product portfolio.  
● Luxury retail experience and omnichannel sales model.  
● Global, experienced, and visionary leadership. [Table Level]
- Table Title: Geographic Distribution of Revenues
- Table Summary: The table presents the revenues generated by Company across different geographic regions for the years ended December 31, 2023, 2022, and 2021. It highlights the significant growth in revenues from various regions, particularly the Chinese mainland, with a detailed breakdown for each location over the years.
- Special Notes: All revenue amounts are in thousands of US dollars.

[Row Level]
Row 1: "For the year ended December 31, 2023, the revenue from the Chinese mainland was $419,448, whereas in 2022 it was $8,816, and in 2021, $3,109."

Row 2: "In the UK, the revenue recorded for 2023 was $83,827, compared to $437 in 2022 and $439 in 2021."

Row 3: "Japan contributed $26,390 to the revenues in 2023, with no recorded revenue in 2022 or 2021."

Row 4: "Australian revenue for 2023 was $20,335, with no revenue in the previous two years."

Row 5: "Belgium generated $20,701 in revenue for 2023, with no revenue in 2022 and 2021."

Row 6: "Revenues from France reached $16,341 in 2023, with no prior revenue in 2021 and 2022."

Row 7: "In Italy, the revenue was $14,650 for 2023, with no records for 2022 and 2021."

Row 8: "Germany contributed $15,904 to the 2023 revenue, with no amounts recorded for 2022 and 2021."

Row 9: "Revenue from the Netherlands amounted to $13,729 in 2023, with no revenue for the other two years."

Row 10: "Other regions generated $47,683 in revenue for 2023, compared to $304 in 2022 and $139 in 2021."

Row 11: "The total revenues for Company reached $679,008 in 2023, significantly rising from $9,557 in 2022 and $3,687 in 2021." As of December 31, 2021, 2022, and 2023, Company had approximately 2,300, 2,913, and 3,180 full-time employees, respectively. The following table sets forth the numbers of Company's employees categorized by function as of December 31, 2023. Company's total revenues increased by US$268.1 million from US$130.0 million for the six months ended June 30, 2023, to US$398.1 million for the six months ended June 30, 2024, primarily due to the increase in sales volume of battery electric vehicle (BEV) lifestyle models and the increase in sales from the distribution of Company-brand sports cars, auto parts, and peripheral products, as well as intelligent driving solutions and other automotive design and development services provided to original equipment manufacturer (OEM) customers. Sales of goods. Company's sales of goods revenue increased by US$258.0 million from US$124.9 million for the six months ended June 30, 2023, to US$382.9 million for the six months ended June 30, 2024, due to the increase in sales of battery electric vehicle (BEV) lifestyle models by US$190.2 million, sports cars by US$53.6 million, and auto parts and peripheral products by US$14.3 million. Service revenues. [Table Level]  
- Table Title: Contract Liabilities as of June 30, 2024 and December 31, 2023  
- Table Summary: The table provides a breakdown of contract liabilities, separating them into current and non-current categories. It shows the amounts as of June 30, 2024, and December 31, 2023, for third parties and related parties.  
- Context: The information is part of Company's unaudited condensed consolidated financial statements, focusing on revenues and liabilities. Revenues are disaggregated by product, service line, and geographic area, with contract liabilities stemming from up-front payments recognized within specific periods.  
- Special Notes: The item marked with an asterisk is included in accrued expenses and other current liabilities in the balance sheets.  

[Row Level]  
Row 1: As of June 30, 2024, current liabilities for contract liabilities with third parties are $50,054, compared to $44,184 as of December 31, 2023.  

Row 2: As of June 30, 2024, current liabilities for contract liabilities with related parties are $11,036, whereas the amount was only $1 as of December 31, 2023.  

Row 3: As of June 30, 2024, non-current liabilities for contract liabilities with third parties amount to $7,024, while the amount was $6,245 as of December 31, 2023.  

Row 4: The total contract liabilities, both current and non-current, are $68,114 as of June 30, 2024, compared to $50,430 as of December 31, 2023. [Table Level]
- Table Title: Revenue by Service Line and Customer Type
- Table Summary: The table presents revenue data for Company. for the years ending December 31, 2023, 2022, and 2021. It categorizes revenue based on sales of goods and services to third parties and related parties, further breaking down sales into battery electric vehicle (BEV) lifestyle models, sports cars, and other categories.
- Special Notes: All amounts are in thousands of US dollars.

[Row Level]
Row 1: In 2023, sales of BEV lifestyle models to third parties generated $464,172, with no revenue reported for 2022 or 2021.

Row 2: For 2023, sports cars sold to third parties brought in $183,160, while $828 was reported for 2022 and $369 for 2021.

Row 3: Sales categorized as "Others" to third parties amounted to $9,394 in 2023, $335 in 2022, and no revenue in 2021.

Row 4: Total sales of goods to third parties were $656,726 in 2023, $1,163 in 2022, and $369 in 2021.

Row 5: In 2023, sales of BEV lifestyle models to related parties amounted to $1,093, with no revenue recorded for the previous years.

Row 6: Sports cars sold to related parties earned $951 in 2023, with no revenue for previous years.

Row 7: Revenue from sales classified as "Others" to related parties was $1,388 in 2023, and $23 in 2022, with no revenue in 2021.

Row 8: Total sales of goods to related parties were $3,432 in 2023, and $23 in 2022, with no revenue in 2021.

Row 9: The subtotal for sales of goods combining third and related parties was $660,158 in 2023, $1,186 in 2022, and $369 in 2021.

Row 10: Revenue from services to related parties was $12,573 in 2023, $8,344 in 2022, and $3,280 in 2021.

Row 11: For 2023, services to third parties generated $6,277, with $27 in 2022 and $38 in 2021.

Row 12: The subtotal for services combining related and third parties was $18,850 in 2023, $8,371 in 2022, and $3,318 in 2021.

Row 13: Total revenues, combining all categories, were $679,008 in 2023, $9,557 in 2022, and $3,687 in 2021. In 2023, Company delivered a total of 6,970 vehicles, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. ● Delivery  
Updates: Company delivered a total of 8,631 vehicles in the first 10 months of 2024.  
● New Technology  
Launched: Company unveiled its "Hyper Hybrid EV technology" at the Guangzhou Auto Show. The 900V Hyper Hybrid EV technology features a Hybrid Electric Drivetrain and dual Hyper Charging technology: Ultra-Fast Plug-In Charging and Ultra-Fast On-The-Drive Charging, both with industry-leading charging speeds. The Hyper Hybrid technology enables high performance, high efficiency, and a flexible longer driving distance of over 1,100 kilometers.  
● Delivery of Urban NOA (Navigate on Autopilot) Service and OTA: Company started open beta testing for urban NOA in key cities in October 2024, following the launch of highway OTA services. Certain OTA features, including the highway assistant driving function, have been launched in Europe.  
● Reuters Sustainability Awards 2024: In October, Company was awarded the Highly Commended honor at the Reuters Sustainability Awards 2024 in the Business Transformation category as the only awardee from the automotive industry. [Table Level]
- Table Title: Revenues and Sales Breakdown
- Table Summary: The table presents a breakdown of total revenues for Company for the years ending December 31, 2023, and 2022, with a focus on "Sales of goods" and "Service revenues." It details revenue from various categories, highlighting significant year-over-year changes.
- Context: The financial overview indicates substantial revenue growth driven by increased sales volumes in battery electric vehicle (BEV) lifestyle models and Company-brand products. The context surrounding the table emphasizes examining these metrics alongside GAAP measures for a comprehensive understanding of performance.
- Special Notes: All monetary values are in thousands of US dollars, except for percentage changes.

[Row Level]
Row 1: Sales of goods revenue for 2023 amounted to $660,158,000, marking an increase of $658,972,000 or 55,562.6% from $1,186,000 in 2022.

Row 2: Revenue from BEV lifestyle models was $465,265,000 in 2023, with no comparable revenue in 2022, indicating a significant marketing launch impact of $465,265,000.

Row 3: Sports cars generated $184,111,000 in revenue in 2023, which is an increase of $183,283,000 from $828,000 in 2022, showing a 22,135.6% growth.

Row 4: The ‘Others’ category contributed $10,782,000 to the 2023 revenue, compared to $358,000 in 2022, representing an increase of $10,424,000 or 2,911.7%.

Row 5: Service revenues for 2023 reached $18,850,000, up from $8,371,000 in 2022, with a year-over-year increase of $10,479,000 or 125.2%.

Row 6: The Total Revenues for 2023 were $679,008,000, which is an increase of $669,451,000 or 7,004.8% from $9,557,000 in 2022. [Table Level]  
- Table Title: Deliveries by Model Type in the Third Quarter of 2024  
- Table Summary: The table outlines the number of units delivered for different vehicle categories in the third quarter of 2024, compared to the same period in 2023. It shows the percentage change year-over-year for each category and overall deliveries.  
- Context: Prior to the table, it was mentioned that total deliveries in the third quarter of 2024 were 2,744 units, reflecting a 54% year-over-year increase. Post-table context highlights upcoming key financial results and an earnings conference call.  
- Special Notes: The units are measured in numbers of vehicles delivered, with percentage changes shown to illustrate year-over-year growth.  

[Row Level]  
Row 1: For the third quarter of 2024, 1,594 units of Lifestyle SUVs and Sedans were delivered, compared to 891 units in the same quarter of 2023. This represents a 79% year-over-year increase.  

Row 2: For Sportscars, 1,150 units were delivered in the third quarter of 2024, up from 891 units in the third quarter of 2023, marking a 30% year-over-year increase.  

Row 3: The total deliveries reached 2,744 units in the third quarter of 2024, in contrast to 1,782 units in the same period of 2023, showing an overall 54% year-over-year increase. [Table Level]
- Table Title: Revenue Breakdown for Different Periods
- Table Summary: The table provides a detailed breakdown of revenue sources for Company across different financial periods, including both sales of goods and service revenues. It shows the amount in US dollars and the percentage contributions for both the six months ended June 30 and the years ended December 31 from 2021 to 2024.
- Context: The context discusses Company's operations as a global distributor for Company Cars and their sources of revenue, which include sales of automotive products and services. Their cost structure and revenue generation strategies are further elaborated upon, highlighting the importance of product distribution and service delivery.
- Special Notes: The financial figures represented in the table are in thousands, except for percentages.

[Row Level]
Row 1: For the six months ended June 30, 2024, sales of goods amounted to $382,893, contributing 96.2% to total revenues. In contrast, in the same period for 2023, sales of goods were $124,854, making up 96.0% of the total revenues.

Row 2: Service revenues for the six months ending June 30, 2024, were $15,222, accounting for 3.8% of total revenues. This compares to $5,181 in 2023, which represented 4.0% of total revenues.

Row 3: The total revenues for the six months ended June 30, 2024, were $398,115, which was 100% of revenue composition, compared to $130,035 or 100% for the same period in 2023.

Row 4: For the year ended December 31, 2023, sales of goods reached $660,158, which was 97.2% of the total revenues, while for 2022, these were $1,186, contributing 12.4%.

Row 5: Service revenues for the year ended December 31, 2023, stood at $18,850, representing 2.8% of total revenue, and $8,371 in 2022, making up 87.6%.

Row 6: The total revenues for the year ended December 31, 2023, were $679,008, making up 100% of revenues, whereas in 2022, the total was $9,557, also 100%.

Row 7: In 2021, sales of goods were $369, equivalent to 10.0% of the total, while service revenues were $3,318, contributing 90.0%.

Row 8: Total revenues for 2021 stood at $3,687, making up 100% of the total revenues. How is the sales volume in the third quarter? Expect deliveries of 3,000 to 4,000 units in the third and fourth quarters. Increase market recognition through new markets (see question 5) and product differentiation to enhance revenue and gross margin. As of June 30, 2024, Company had 207 stores in its global distribution network, and it plans to continue expanding its retail network. In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. The growth of the global luxury car segment is expected to outpace that of the overall car market. Within the global battery electric vehicle (BEV) market, the luxury BEV segment is expected to outgrow the mass market BEV segment. Company is well positioned to capitalize on the growth momentum of the global luxury BEV segment by leveraging the following strategies. What is the reason for the company's sales forecast adjustment?Based on Company's prudent assessment of the global macro market environment and the uncertainty of tariffs, Company has adjusted the delivery forecast for 2024 to 12,000 units. How will the company face the tariffs imposed by the EU and the US?Company will adjust product plans to cater to diverse global markets and launch high-performance special editions and limited editions to focus on ultra-luxury customers. Company will continue to enhance brand and service quality, improve resilience, and achieve sustainable growth.  
Both the United States and Europe are important markets for Company. The company will continue to focus on meeting the growing demand for luxury electric vehicles in these markets.  
Company closely monitors the implementation details of tariffs and other factors, which may have short-term impacts, but these do not affect the company's long-term development strategy and outlook.  
For US factory construction, Company continues to monitor global market dynamics and comprehensively considers local policy situations to formulate market strategies. [Table Level]  
- Table Title: Geographic Revenues for Company.  
- Table Summary: The table presents the revenues of Company by geographic areas for the years ended December 31, 2023, 2022, and 2021. It shows the monetary contribution from various regions, highlighting significant sales in the Chinese mainland and the United Kingdom. The total revenues for each year are also provided.  
- Context: The revenues shown are part of Company's financial performance. The table focuses on the geographic distribution of sales, correlating with the financial statement notes that discuss factors affecting financial operations and performance.  
- Special Notes: All values are in thousands of US dollars, as indicated in the financial statement notes. The table's footnotes outline the items included in financial calculations and conditions affecting convertible notes and shares.  

[Row Level]  
Row 1: In 2023, the revenues from the Chinese mainland were US$419,448, a significant increase from US$8,816 in 2022, and US$3,109 in 2021.  

Row 2: The United Kingdom contributed US$83,827 in 2023, up from US$437 in 2022, and US$439 in 2021.  

Row 3: Revenue from Japan was US$26,390 in 2023, with no significant revenue reported in prior years.  

Row 4: In 2023, Australia generated US$20,335 in revenues, marking this as a new revenue stream.  

Row 5: Belgium's revenue in 2023 was US$20,701, with no recorded revenues in earlier years.  

Row 6: France contributed US$16,341 in 2023, with no revenues noted in previous years.  

Row 7: Italy had revenues of US$14,650 in 2023, with no previous data available.  

Row 8: Germany reported US$15,904 in 2023, marking its first entry as a revenue source.  

Row 9: The Netherlands had revenues of US$13,729 in 2023, also a new entry.  

Row 10: Revenues classified as 'Others' totaled US$47,683 in 2023, increased from US$304 in 2022, and US$139 in 2021.  

Row 11: Total revenues for Company were US$679,008 in 2023, sharply rising from US$9,557 in 2022, and US$3,687 in 2021. ● Total deliveries for the third quarter of 2024 were 2,744 units, a 54% year-over-year increase.  
● Total revenues for the third quarter of 2024 were \$255 million, a 36% year-over-year increase.  
● Gross margin for the third quarter of 2024 was 3%, compared to 15% for the same period of 2023.  
● Operating loss for the third quarter of 2024 was \$160 million, narrowed by 2% compared with the same period of 2023.  
● Net loss for the third quarter was \$206 million, a 19% year-over-year increase.  
● Adjusted EBITDA (non-GAAP) was a loss of \$182 million for the third quarter of 2024, an 18% year-over-year increase. Deliveries by Model Type Company cannot assure stakeholders that its services or efforts to engage with customers through both online and offline channels will be successful, which could affect revenues as well as customer satisfaction and marketing. Moreover, Company is unable to ensure the availability or quality of services provided by third parties, such as road assistance, vehicle logistics, and automobile financing and insurance. If any of the services provided by third parties become unavailable or inadequate, customers’ experiences may be adversely affected, which in turn may materially and adversely affect Company's business and reputation. In addition to Company's delivery and servicing centers, some of Company's after-sales services are carried out by third-party service providers. Some of these third-party service providers have limited experience in servicing electric vehicles. Company cannot assure stakeholders that the service arrangements will adequately address the service requirements of customers to their satisfaction, or that Company and its authorized body and paint shops will have sufficient resources to meet these service requirements in a timely manner as the volume of vehicles delivered increases. In September, Company unveiled its visionary Theory 1 concept car, a groundbreaking model that redefines the future of driving with its cutting-edge technology, bold design, and eco-friendly features. Note 1: Invoiced deliveries, including commissioned deliveries in the US market. The vehicle delivery numbers presented above are derived from reports submitted by Company's business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems to be announced by the company. Company's service revenue increased by US$10.5 million from US$8.4 million for the year ended December 31, 2022, to US$18.9 million for the year ended December 31, 2023, primarily due to the increase in automotive design and development services provided to OEM customers of US$5.8 million and extended and aftersales services revenue for battery electric vehicle (BEV) lifestyle models and sports cars of US$4.7 million. For more detailed information, see “Risk Factors   —   Risks Relating to Doing Business in China   —   Company may be adversely affected by the complexity, uncertainties, and changes in regulations of mainland China on automotive as well as internet-related businesses and companies,” and “— The approval of and/or filing with CSRC or other PRC government authorities may be required in connection with Company's offshore offerings under PRC law, and, if required, Company cannot predict whether or for how long it will be able to obtain such approval or complete such filing.” During the six months ended June 30, 2024, Company achieved total deliveries of 4,873 units, representing a 239% year-on-year increase. Company also achieved a balanced global allocation, with each region contributing 20-30% of the total deliveries in the first half of 2024. Company is well positioned to capitalize on the growth momentum of the global luxury battery electric vehicle (BEV) segment by leveraging the following strategies: ● Invest in brand equity and fully transform Company's brand. ● Scale up and expand Company's geographical presence. ● Develop next-generation electric vehicle technologies while monetizing Company's R&D prowess. ● Continue to launch new vehicle models and upgrade existing models. ● Company will focus on sustainability and lead in electrification. Company and Subsidiary B have entered into a Distribution Agreement pursuant to which a subsidiary of Company is appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including Eletre, Emeya, and future lifestyle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of June 30, 2024, Company had 207 stores in its global distribution network, and plans to continue expanding its retail network. In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. [Table Level]  
- Table Title: Contract Liabilities as of December 31  
- Table Summary: This table outlines the current and non-current contract liabilities of Company as of December 31 for the years 2023 and 2022. It distinguishes between liabilities to third parties and related parties.  
- Context: The surrounding context discusses the recognition of contract liabilities as revenue and explains the nature of these liabilities, particularly in relation to up-front payments from customers and the expected recognition of unsatisfied performance obligations.  
- Special Notes: The table employs a special notation (*) for liabilities related to related parties.  

[Row Level]  
Row 1: As of December 31, 2023, the current liability for contract liabilities to third parties is US$44,184, while it was US$7,843 in 2022.  

Row 2: Current contract liabilities to related parties are noted at US$1 in 2023, compared to US$8 in 2022, as marked with a special notation (*).  

Row 3: Non-current contract liabilities to third parties amount to US$6,245 in 2023, whereas there were no such liabilities recorded for 2022.  

Row 4: The total contract liabilities, both current and non-current, are US$50,430 for 2023, increasing significantly from US$7,851 in 2022. Company has started deliveries of the Eletre to new markets, including the Gulf Cooperation Council region, New Zealand, India, and Egypt, following deliveries in Southeast Asia. Production orders for the Eletre have begun for new markets such as Australia, Japan, and Korea. Company also started deliveries of the Emeya in Europe and is taking reservations for the Emeya in the Gulf Cooperation Council region, Japan, Korea, and Southeast Asia. The company managed to maintain an average selling price of over US$100,000 in the first half of 2024, despite faster-than-sector growth and intensified competition. Company has assessed evolving market conditions and uncertainties posed by new tariff policies in the U.S. and EU, and the company has revised its delivery target for 2024 to 12,000 units. Company launched the “Win26” plan, aiming to achieve positive EBITDA and positive operating cash flow in 2026 by further optimizing its internal processes and structures, implementing overall cost control measures, and recalibrating its product plans to cater to globally diversified markets. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company and Subsidiary B have entered into a Distribution Agreement pursuant to which a subsidiary of Company will be appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of December 31, 2023, Company had 215 stores in its global distribution network, and it plans to expand its retail network to over 300 stores by 2025. [Table Level]  
- Table Title: Revenue Breakdown by Service Line  
- Table Summary: The table presents revenue data for Company, disaggregated by service lines for the years ended December 31, 2023, 2022, and 2021. It categorizes revenue from sales of goods to third parties and related parties, as well as from services, providing subtotals and total revenue figures for each year.  
- Context: The table is part of the notes to the consolidated and combined financial statements for Company, detailing revenue sources and breakdowns of contract liabilities and customer payments.  
- Special Notes: All amounts are in thousands of US dollars. The data is categorized under service lines such as BEV lifestyle models, sports cars, and others.  

[Row Level]  
Row 1: For the year 2023, sales of goods to third parties for BEV lifestyle models generated $464,172, with no revenue recorded for 2022 and 2021.  

Row 2: In 2023, sales of sports cars to third parties amounted to $183,160, while in 2022 it was $828, and in 2021 it was $369.  

Row 3: Revenue from other goods sold to third parties in 2023 was $9,394, in 2022 it was $335, with no revenue recorded in 2021.  

Row 4: The subtotal for sales of goods to third parties in 2023 was $656,726, whereas it was $1,163 in 2022 and $369 in 2021.  

Row 5: For 2023, sales of BEV lifestyle models to related parties amounted to $1,093, with no revenue recorded for previous years.  

Row 6: In 2023, sales of sports cars to related parties generated $951, with $23 in revenue for 2022 and no revenue for 2021.  

Row 7: Other goods sold to related parties generated $1,388 in 2023; in 2022 it was $23, and no revenue was recorded in 2021.  

Row 8: The subtotal for goods sold to related parties was $3,432 in 2023, $23 in 2022, and no revenue in 2021.  

Row 9: For services to related parties, revenue was $12,573 in 2023, $8,344 in 2022, and $3,280 in 2021.  

Row 10: Revenue from services to third parties was $6,277 in 2023, $27 in 2022, and $38 in 2021.  

Row 11: The subtotal for service revenue was $18,850 in 2023, $8,371 in 2022, and $3,318 in 2021.  

Row 12: Total revenues for the year 2023 were $679,008, while for 2022 it was $9,557, and for 2021 it was $3,687. [Table Level]  
- Table Title: Contract Liabilities Breakdown  
- Table Summary: The table shows the breakdown of current and non-current contract liabilities of Company as of December 31, 2023, and 2022. It includes details on liabilities to third parties and related parties, providing insights into changes over the two-year period.  
- Context: Prior to the table, the context discusses Company's financial treatment of convertible notes and share options which are contingent on future conditions. Afterward, there is an explanation of how contract liabilities, particularly up-front payments for vehicles or services, are accounted for in the financial statements.  
- Special Notes: Amounts are in thousands of US dollars. The item marked with an asterisk (*) is included in accrued expenses and other current liabilities related to related parties.  

[Row Level]  
Row 1: The current contract liabilities to third parties as of December 31, 2023, are US$44,184, marking an increase from US$7,843 recorded in 2022.  

Row 2: The current contract liabilities to related parties as of December 31, 2023, are US$1, a decrease from US$8 in 2022.  

Row 3: The non-current contract liabilities to third parties as of December 31, 2023, amount to US$6,245. There were no such liabilities recorded in 2022.  

Row 4: The total contract liabilities, combining both current and non-current, are US$50,430 as of December 31, 2023, compared to US$7,851 in 2022. New York – Oct 17, 2024 – Company. (“Company” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its preliminary vehicle delivery results for the first nine months of 2024. Company. continues to achieve top-rate growth among traditional luxury car brands, delivering 7,543 vehicles in the first nine months of 2024, representing a year-on-year increase of 134%. Global allocation in terms of deliveries remained well-distributed, with Europe, China, North America, and the Rest of the World regions each contributing about 20-35% of the total deliveries. In the third quarter of 2024, the Emeya (GT, Sedan) was delivered to Europe, whilst the Eletre (SUV) reached markets including the GCC, Japan, and Korea. In September, Company. revealed the Eletre Carbon, a high-performance variant tailored for the North American market with a starting price of $229,900. The deliveries of the Eletre Carbon are expected to commence in the first half of 2025. Deliveries of bespoke and collection versions of both the Eletre (SUV) and the Emeya (GT, Sedan) also commenced in the third quarter. [Table Level]
- Table Title: Vehicle Deliveries by Model Type and Region for 1H 2024
- Table Summary: The table presents vehicle deliveries for Company during the first half of 2024, broken down by model types and regions. It includes comparative data from 2023 and highlights percentage changes year-on-year.
- Context: Prior context discusses the regulatory challenges Company might face in China, which could impact its operations and securities offerings. It also mentions recent achievements in delivery growth.
- Special Notes: (1) “Deliveries” represent invoiced deliveries, including commissioned deliveries in the U.S. market.

[Row Level]
**Model Type:**
- Row 1: Lifestyle SUV and Sedan deliveries reached 2,389 units in 1H 2024, up from 871 units in 1H 2023, marking a 174% year-on-year increase.
- Row 2: Sportscars saw 2,484 units delivered in 1H 2024 compared to 568 units in 1H 2023, showing a 337% increase.
- Row 3: Total deliveries for these categories amounted to 4,873 units in 1H 2024, with a total of 1,439 units in 1H 2023, representing a 239% overall growth.

**Region:**
- Row 4: In Europe, there were 1,459 units delivered in 1H 2024, compared to 89 units in 1H 2023, which is a 30% share of total 2024 deliveries.
- Row 5: Deliveries in China were 1,208 units in 1H 2024, up from 965 units in 1H 2023, holding a 25% share in 2024.
- Row 6: North America had 1,278 units delivered in 1H 2024, accounting for 26% of 2024 deliveries, with no data from 1H 2023 for comparison.
- Row 7: The Rest of the World saw 928 units delivered in 1H 2024, an increase from 385 units in 1H 2023, making up 19% in 2024.
- Row 8: The total for all regions reached 4,873 units in 1H 2024, up from 1,439 units in 1H 2023, with each region contributing between 19% to 30% of the deliveries. [Table Level]  
- Table Title: Key Financial Results for Third Quarter 2024  
- Table Summary: This table presents the key preliminary financial results for the third quarter of 2024, compared to the third quarter of 2023, emphasizing changes in revenue, costs, and losses. It highlights both the dollar values and year-over-year percentage changes.  
- Context: The third quarter of 2024 saw significant impacts on deliveries, revenues, margins, and losses. Notably, total deliveries were 2,744 units, while revenues reached \$255 million, shaping the financial outcomes shared in this table.  
- Special Notes: All financial data are presented in millions of U.S. dollars and are unaudited. Adjustments to net loss and EBITDA are noted with (A).  

[Row Level]  
Row 1: Revenues for the third quarter of 2024 were \$255 million, representing a 36% increase from \$188 million in the third quarter of 2023.  

Row 2: The cost of revenues was \$247 million in the third quarter of 2024, up 54% from \$160 million in the same period of 2023.  

Row 3: Gross profit fell sharply to \$8 million in the third quarter of 2024, a decrease of 70% from \$28 million in the third quarter of 2023.  

Row 4: The gross margin decreased to 3% in the third quarter of 2024 from 15% in the same quarter of the previous year.  

Row 5: Operating loss was \$160 million in the third quarter of 2024, slightly narrowed by 2% from \$163 million in the third quarter of 2023.  

Row 6: Net loss increased to \$206 million in the third quarter of 2024, up 19% from \$174 million during the third quarter of 2023.  

Row 7: The adjusted net loss for the third quarter of 2024 was \$209 million, representing a 20% increase from the previous year's \$174 million.  

Row 8: Adjusted EBITDA was a loss of \$182 million in the third quarter of 2024, marking an 18% rise compared to a loss of \$154 million in the third quarter of 2023. The vehicle delivery numbers presented above are derived from reports submitted by Company's business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems announced or to be announced by the company. [Table Level]
- Table Title: Financial Performance Summary
- Table Summary: This table presents the net loss, adjusted net loss, and adjusted EBITDA figures for the years ended December 31, 2021 to 2023. It includes detailed breakdowns of interest expenses, interest income, income tax expenses, share-based compensation expenses, and depreciation.
- Context: The table reflects financial performance measures that should be analyzed in conjunction with GAAP measures and other financial information to gain a full understanding of Company's fiscal health. It indicates a substantial year-over-year increase in total revenues due to various sales activities.
- Special Notes: Values are reported in US dollars and thousands (from 2022 onwards where specified).

[Row Level]
- Row 1: Net loss for the year 2023 was $(750,255), compared to $(724,563) for 2022, and $(110,531) for 2021.
- Row 2: Share-based compensation expenses were not applicable in 2023, amounted to $10,625 in 2022, and were not applicable in 2021.
- Row 3: Adjusted net loss for 2023 was $(750,255), while it was $(713,938) for 2022, and $(110,531) for 2021.
- Row 4: Restates net loss figures for 2023 as $(750,255), 2022 as $(724,563), and 2021 as $(110,531) for additional context.
- Row 5: Interest expenses were $10,200 in 2023, $8,542 in 2022, and $3,615 in 2021.
- Row 6: Interest income in 2023 was $(9,204), in 2022 was $(12,188), and in 2021 was $(6,219).
- Row 7: Income tax expense for 2023 was $1,113, compared to $292 for 2022, and $1,853 for 2021.
- Row 8: Share-based compensation expenses are reiterated as not applicable for 2023 and 2021, but were $10,625 in 2022.
- Row 9: Depreciation was $54,957 in 2023, $12,790 in 2022, and $2,056 in 2021.
- Row 10: Adjusted EBITDA was $(693,189) for 2023, $(704,502) for 2022, and $(109,226) for 2021. Additionally, leveraging Counterparty A’s global supply chain network, strong bargaining power in procurement, and stable relationships established with reputable suppliers such as Vendor B, Vendor C, Vendor D, and Vendor A, Company can secure high-quality components at more competitive prices, which it believes would allow for better management of any supply chain disruption risk more effectively compared to other OEMs. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for its customers. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an enquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. Deliveries of lifestyle vehicles saw a remarkable 126% year-on-year increase in the first nine months of 2024, constituting 52% of the total deliveries. Europe, being the home of the Company brand, demonstrated significant growth with a 372% year-on-year increase in vehicle deliveries during this period. The Rest of the World (ROW) region achieved a 110% year-on-year increase, as Company continued to expand into new markets. Furthermore, the company has surpassed 200 stores worldwide, with per-store sales steadily improving through operational optimization. The delivery breakdown for the first nine months of 2024 was 52% lifestyle vehicles and 48% sportscars. By region, deliveries were distributed as follows: Europe accounted for 35%, China for 25%, North America for 18%, and ROW for 22%. Regarding the store distribution, Europe held 34%, China had 25%, North America had 24%, and ROW had 17%. [Table Level]
- Table Title: Employee Distribution by Function as of December 31, 2023
- Table Summary: The table presents the number and percentage of employees within various functional areas of Company as of December 31, 2023. It details how the total workforce is allocated across different functions such as Research and Development, Marketing and Sales, Supply Chain, and Functional Support.
- Context: Company has developed a competitive edge through advanced technologies and a scalable business model, with a focus on research and development. Company has grown its workforce from approximately 2,300 employees in 2021 to 3,180 in 2023.
- Special Notes: Numbers are presented alongside their corresponding percentages to demonstrate the distribution of employees across functions. The sum of percentages totals 100%, representing the complete workforce.

[Row Level]
Row 1: "As of December 31, 2023, the Research and Development function employed 1,802 individuals, comprising 56.7% of the total workforce."
Row 2: "The Marketing and Sales function had 690 employees, accounting for 21.7% of the total workforce as of December 31, 2023."
Row 3: "The Supply Chain function included 239 employees, which represented 7.5% of the total workforce as of December 31, 2023."
Row 4: "Functional Support had 449 employees, making up 14.1% of the workforce as of December 31, 2023."
Row 5: "The total number of employees was 3,180, with this figure encompassing 100% of Company’s workforce as of December 31, 2023." In the fourth quarter of 2024, Company launched its first boutique in Beijing, offering an exclusive, personalized car-buying experience. This location features artistic workshops that integrate avant-garde art and fashion trends, enhancing the luxury brand's unique offering. Chapman Bespoke provides a one-stop solution catering to various luxury specifications demanded by Company owners. This includes One-Off, Limited Collection, and Tailor-Made options. Initially launched in China during the first half of 2024, the service expanded to the North American market by the third quarter of 2024. The delivery of bespoke vehicles began in the third quarter as well. The Company Champion Driver Initiatives create opportunities for the Company driving community to engage in racing events. Participants receive professional track training from champion racers and can unlock certified racing licenses to become racing drivers. The Group’s revenues are disaggregated by service lines as follows: How is the company's overseas expansion situation? As a legendary brand with a history of 76 years, Company has a high reputation in the global market. The company currently has over 200 sales outlets in key global locations. The company's global deliveries were balanced, with the four major markets (Europe, China, North America, and Rest of World) each contributing 20-30% of deliveries. The company's lifestyle vehicles (Eletre and Emeya) are gradually entering new markets. After delivery in Southeast Asia, the Eletre SUV has started delivery in markets such as the Middle East, New Zealand, India, and Egypt. Eletre SUV production orders have commenced in Australia, Japan, and South Korea. The Emeya GT sedan has started delivery in Europe and has been pre-ordered in the Middle East, Northeast Asia, and Southeast Asia. New York – November 12, 2024 – Company. (“Company” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its vehicle delivery results for the first ten months of 2024. Company. continues to achieve top-rate growth among traditional luxury car brands, delivering 8,631 vehicles in the first ten months of 2024. Europe and China continued to be the major markets for Company, with each region contributing about 35% and 25% of the total deliveries, respectively. In October, Company. started an open beta test for its urban NOA (Navigate on Autopilot) in key cities. Certain over-the-air updates of intelligent driving, including highway assistant driving functions, were launched in Europe. As previously announced, Subsidiary A, Company's intelligent driving arm, provides intelligent driving solutions with global coverage to both Company-brand intelligent vehicles and other global leading auto conglomerates such as Counterparty A, Counterparty B, and a top Japanese Tier-one supplier. In October, Company. was awarded the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category as the only awardee from the automotive industry. Note 1: Invoiced deliveries, including commissioned deliveries in the US market. How was Company's performance in the first half of the year? Total revenue for the first half of 2024 was $398 million, representing a year-on-year increase of 206%. Company's Average Selling Price (ASP) remained above $100,000, achieving growth far exceeding the industry and luxury car segment. Company's gross margin for the first half of this year was 13%, compared to 5% in the same period of 2023.

In the first half of 2024, Company achieved total product deliveries of 4,873 units, a 239% year-on-year increase, making it the fastest-growing brand among traditional luxury car brands. Global deliveries were balanced, with the four major markets (Europe, China, North America, and Rest of World) each contributing 20-30% of deliveries.

In the first half of 2024, as Company began collaborating with several leading automotive brands by providing intelligent driving solutions and technology development services, technology-related revenue started to expand. With the continued increase in cumulative deliveries of lifestyle vehicles equipped with advanced hardware, the potential for generating paid software subscription revenue continues to grow.

Company launched a bespoke service, offering personalized options, designer customization, limited editions, and exclusive customization to meet the growing demands of its customers. The delivery of customized models is expected to further enhance the brand's luxury positioning and benefit Company's long-term profit margins. Company cannot assure stakeholders that its services or efforts to engage with customers through both online and offline channels will be successful, which could affect revenues as well as customer satisfaction and marketing. Moreover, Company is unable to ensure the availability or quality of services provided by third parties, such as road assistance, vehicle logistics, and automobile financing and insurance. If any of the services provided by third parties become unavailable or inadequate, customers’ experiences may be adversely affected, which in turn may materially and adversely affect Company's business and reputation. In addition to Company's delivery and servicing centers, some of Company's after-sales services are carried out by third-party service providers. Some of these third-party service providers have limited experience in servicing electric vehicles. Company cannot assure stakeholders that its service arrangements will adequately address the service requirements of its customers to their satisfaction, or that Company and its authorized body and paint shops will have sufficient resources to meet these service requirements in a timely manner as the volume of vehicles delivered increases. Company's service revenue increased by US$10.0 million from US$5.2 million for the six months ended June 30, 2023, to US$15.2 million for the six months ended June 30, 2024, primarily due to the increase in commission service fees and other services of US$5.0 million, income from intelligent driving solutions and extended services of US$3.2 million, and income from automotive design and development services provided to OEM customers of US$1.8 million. [Table Level]
- Table Title: Geographic Revenue Distribution
- Table Summary: The table presents the revenues of Company from various geographic locations for the six-month periods ending June 30, 2024, and 2023. It highlights the revenue distribution across different countries and regions, showing significant increases in certain areas over the previous year.
- Context: The table is part of Company's unaudited condensed consolidated financial statements and provides a breakdown of revenues by geographic area, detailing how customer locations contribute to sales figures.
- Special Notes: All figures are represented in thousands of US dollars (US$). There are disclaimers regarding the calculation of loss per share which is related to put options.

[Row Level]
Row 1: For the six months ended June 30, 2024, the revenue from the Chinese mainland was US$138,210, a significant increase from US$93,013 in 2023.

Row 2: The United Kingdom contributed US$69,728 in 2024, showing a marked increase compared to US$7,396 in 2023.

Row 3: Thailand generated US$24,594 in revenue for 2024, up from US$248 in 2023, reflecting substantial growth.

Row 4: In 2024, Malaysia's revenue was US$23,652, a rise from US$1,040 reported in 2023.

Row 5: Revenue from Belgium was US$21,155 in 2024, with no corresponding figure reported for 2023.

Row 6: Italy contributed US$17,522 in 2024, while there was no reported revenue for 2023.

Row 7: Japanese revenue reached US$16,943 in 2024, slightly up from US$16,217 in 2023.

Row 8: Revenue from Germany was US$14,951 in 2024, with no prior year data available.

Row 9: The Netherlands showed US$11,145 in revenue for 2024, not reported in 2023.

Row 10: France generated US$10,553 in 2024, without a reported figure for 2023.

Row 11: Other regions collectively contributed US$49,662 in revenue in 2024, compared to US$12,121 in 2023.

Row 12: The total revenue for the six months ending June 30, 2024, was US$398,115, a substantial increase from US$130,035 in 2023.