What is the cash flow status for Zeekr in 2025?
[Table Level]
- Table Title: Cash Flows from Financing and Related Activities
- Table Summary: This table details the cash flows from various financing activities for company Intelligent Technology Holding Limited for the years ended December 31, 2022, 2023, and 2024. It includes proceeds and repayments from different financing sources and ends with the effects on cash, cash equivalents, and any associated restrictions. Supplementary disclosures are also included to highlight non-cash and financing activities.
- Context: Before the table, the context outlines adjustments for net cash from operating activities and briefly discusses cash flow from investing. The table details are part of the combined and consolidated statements of cash flows for company.
- Special Notes: The data is presented in thousands, and different currencies (RMB and USD) are used along with specific notes for certain lines, such as Note 2(d).

[Row Level]
Row 1: In 2024, proceeds from the initial public offering, net of issuance costs of RMB 79,138, amounted to RMB 3,465,344 or USD 474,750.
Row 2: Proceeds from the issuance of preferred shares, accounting for issuance costs of RMB 1,690, RMB 2,134, and nil in 2022, 2023, and 2024 respectively, were RMB 1,268,360 in 2022 and RMB 5,373,044 in 2023.
Row 3: Proceeds from short-term bank borrowings were RMB 147,000 in 2022, RMB 30,200 in 2024, which equals USD 4,137.
Row 4: Repayment of short-term bank borrowings totaled RMB 751,359 in 2022 and RMB 200 in 2024, equating to USD 27.
Row 5: In 2022, proceeds from long-term bank borrowings were RMB 972,042, while in 2024 they were RMB 414,480, or USD 56,784.
Row 6: Repayment of long-term bank borrowings stood at RMB 972,042 in 2022.
Row 7: There was a repurchase of ordinary shares amounting to RMB 186,746 in 2023 and USD 25,584 in 2024.
Row 8: Proceeds from related party loans were RMB 7,800,000 in 2022 and RMB 3,000,000 in 2023, totaling USD 410,998.
Row 9: Repayments of related party loans grew to RMB 5,375,727 in 2023, RMB 4,100,000 in 2024, or USD 561,698.
Row 10: Net cash provided by (used in) financing activities showed RMB 5,373,325 in 2022, a decrease of RMB 2,683 in 2023, and RMB 2,623,078 in 2024, equating to USD 359,360.
Row 11: There was a net decrease of RMB 157,219 in cash, cash equivalents, and restricted cash in 2022, an increase of RMB 313,898 in 2023, and RMB 4,898,448 in 2024, equivalent to USD 671,086.
Row 12: Cash, cash equivalents, and restricted cash at the beginning of the year was RMB 3,897,966 in 2022, RMB 3,754,904 in 2023, and RMB 4,104,749 in 2024, translating to USD 562,348.
Row 13: The effect of exchange rate changes on cash, cash equivalents, and restricted cash resulted in RMB 14,157 in 2022, RMB 35,947 in 2023, while there was a decrease of RMB 41,545 in 2024, equaling USD 5,693.
Row 14: Cash, cash equivalents, and restricted cash at the end of the year was RMB 3,754,904 in 2022, RMB 4,104,749 in 2023, RMB 8,961,652 in 2024, or USD 1,227,741.
Row 15: Supplementary disclosure of cash flow information includes cash paid for income tax which was RMB 80,342 in 2022, RMB 120,078 in 2023, RMB 494,699 in 2024, or USD 67,773.
Row 16: Interest paid stood at RMB 60,808 in 2022, RMB 209,571 in 2023, RMB 179,567 in 2024, equivalent to USD 24,601.
Row 17: Supplementary disclosure of non-cash investing and financing activities highlights accrued purchases of property and equipment amounting to RMB 398,648 in 2022, RMB 497,651 in 2023, RMB 405,470 in 2024, or USD 55,549.
Row 18: Accrued purchases of intangible assets amounted to RMB 21,410 in 2024, or USD 2,933.
Row 19: Amounts due from related parties in connection with the disposal of property and equipment was RMB 122,115 in 2023. [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Cash Flows
- Table Summary: The table presents a detailed breakdown of cash flow activities for company Intelligent Technology Holding Limited over the fiscal years ending December 31, 2020, 2021, and 2022. It reflects cash flows from operating, investing, and financing activities, showing how these activities affect overall cash and cash equivalents during these periods.
- Context: company Intelligent Technology Holding Limited has provided the condensed statements for operating income, balance sheet, and cash flows for historical financial analysis covering years 2020-2022. This serves to fulfill regulatory requirements as noted in the context surrounding the table.
- Special Notes: All values are expressed in thousands, except where share and per share data is noted. The conversion to USD for the year 2022 is provided according to Note 2d.

[Row Level]
Row 1: In 2020, the net income was RMB 103,600, whereas there was a net loss of RMB 4,362,569 in 2021, and a further increased loss of RMB 7,933,779 in 2022, equivalent to USD 1,087,415.
Row 2: The income loss from equity method investments was RMB -103,600 in 2020, but reverted to gains of RMB 4,364,657 in 2021 and RMB 7,940,073 in 2022, which converts to USD 1,088,278.
Row 3: Foreign exchange loss was not applicable in 2020 and showed a minor gain of RMB 152 in 2021 but increased to a loss of RMB 50,875 in 2022, amounting to USD 6,973.
Row 4: Amounts due from subsidiaries were not listed in 2020 or 2021; however, they recorded a decrease of RMB 5,803 and USD 795, respectively, in 2022.
Row 5: Other current assets went unreported for 2020 and 2021 but decreased by RMB 3,562 and USD 488 in 2022.
Row 6: Accrued expenses and other current liabilities were unreported before 2021, but showed a minor increase of RMB 1,241 and a further increase leading to RMB 170 in 2022, which translates to USD 24.
Row 7: The net cash provided by (used in) operating activities amounted to RMB 2,240 in 2020 and reverted to losses of RMB 52,705 in 2021 and RMB 7,223 in 2022, equating to USD 992.
Row 8: Advances to subsidiaries occurred with spending of RMB 571,259 for 2021 and RMB 78,298 for 2022, totaling USD 10,753.
Row 9: Investments in subsidiaries cost RMB 2,000,000 in 2020 and increased to RMB 2,540,000 in 2021 transitioning into RMB 348,136 in 2022, which converts into USD 47,901.
Row 10: The net cash used in investing activities was RMB 2,000,000 in 2020, expanded to RMB 3,111,259 in 2021, finally reducing to RMB 426,434 in 2022, or USD 58,654.
Row 11: Proceeds from the issuance of ordinary shares by company were RMB 2,000,000 realized only in 2020.
Row 12: Proceeds from issuance of preferred shares - including net of costs like RMB 1,690 - were RMB 1,934,120 in 2020, transitioning to RMB 1,268,360 in 2021 and RMB 173,843 in 2022, equaling USD 23,936.
Row 13: Cumulatively, net cash provided by financing activities accounted for RMB 3,934,120 in 2020, RMB 1,268,360 in 2021 and RMB 173,843 in 2022, converting into USD 23,936.
Row 14: There was a cash increase of RMB 1,936,360 in 2020, followed by a decrease of RMB 1,895,604 in 2021, and a minor decrease to RMB 259,814 in 2022 or USD 35,726.
Row 15: Starting cash, cash equivalents for 2020 was RMB 1,907,283 leading to RMB 261,415 for both 2021 and 2022, resulting in USD 35,941.
Row 16: The effect of exchange rate changes on cash and cash equivalents was RMB 29,077 in 2020 leading to a positive RMB 52,765 in 2021 with final value reaching RMB 7,232 equaling USD 995 in 2022.
Row 17: Ending cash, cash equivalents reached RMB 1,907,283 for 2020, RMB 64,444 at the conclusion of 2021, concluding at RMB 8,833 and USD 1,210 for 2022. [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Cash Flows for the Year Ended December 31, 2021, 2022, and 2023
- Table Summary: This table summarizes the cash flows of company Intelligent Technology Holding Limited over three years, detailing cash inflows and outflows from operating, investing, and financing activities. It shows changes in cash equivalents and the impact of exchange rate fluctuations on these amounts.
- Context: This table is part of financial statement schedules that provide insights into company Intelligent Technology's financial operations, helping assess the company's cash management and overall financial health during the specified years.
- Special Notes: Note 2d provides US dollar conversions for 2023 values. Amounts are provided in thousands unless otherwise noted. Certain notations like RMB (Renminbi) and US$ signify the currency. Footnotes disclose issuance costs for preferred shares in 2022 and 2023.

[Row Level]
Row 1: In 2021, the net loss from operating activities was RMB 4,362,569, which increased to RMB 7,933,779 in 2022 and further to RMB 8,346,980 in 2023 (equivalent to US$ 1,175,648 as per Note 2d).
Row 2: The loss from equity method investments was RMB 4,364,657 in 2021, RMB 7,940,073 in 2022, and RMB 8,416,038 in 2023, with the 2023 loss equating to US$ 1,185,374.
Row 3: Foreign exchange income was RMB 152 in 2021, and then a foreign exchange loss was recorded as RMB 50,875 in 2022, with no data available for 2023.
Row 4: Changes due from subsidiaries were negligible in 2021, negative in 2022 at RMB 5,803, and positive in 2023 at RMB 5,803, equating to US$ 817.
Row 5: Changes in other current assets were RMB 3,562 negative in 2021, increasing to RMB 22,079 negative in 2022 and RMB 3,110 negative in 2023.
Row 6: Accrued expenses and other current liabilities contributed RMB 1,241 in 2022 and RMB 7,247 in 2023, equivalent to US$ 1,021.
Row 7: Net cash from operating activities was minimal at RMB 2,240 in 2021, negative RMB 52,705 in 2022, while rising to RMB 60,029 in 2023 (US$ 8,454).
Row 8: Loans to subsidiaries stood at RMB 571,259 negative in 2022 and RMB 9,438 in 2023, which is equivalent to US$ 1,329.
Row 9: Repayments of these loans contributed RMB 633,526 in 2023, equating to US$ 89,230.
Row 10: Investments in subsidiaries accounted for RMB 2,000,000 in 2021, RMB 2,540,000 in 2022, and RMB 5,861,813 in 2023, translating to US$ 825,619.
Row 11: Net cash used in investing activities was RMB 2,000,000 negative in 2021, RMB 3,111,259 negative in 2022, and RMB 5,237,725 negative in 2023, converting into US$ 737,718.
Row 12: Proceeds from the issuance of ordinary shares contributed RMB 2,000,000 in 2021 only.
Row 13: Issuance of preferred shares (after costs) brought in RMB 1,934,120 in 2021, RMB 1,268,360 in 2022, and RMB 5,373,044 in 2023 (US$ 756,777), noting issuance costs of RMB 1,690 and RMB 2,134 in 2022 and 2023, respectively.
Row 14: Net cash provided by financing activities totaled RMB 3,934,120 in 2021, RMB 1,268,360 in 2022, and RMB 5,373,044 in 2023, or US$ 756,777.
Row 15: The net increase/decrease in cash and cash equivalents was RMB 1,936,360 in 2021, turning into a decrease of RMB 1,895,604 in 2022, then a rise to RMB 195,348 in 2023, equivalent to US$ 27,513.
Row 16: Beginning cash equivalents were RMB 1,907,283 in 2021, reduced to RMB 64,444 in 2022, before reaching RMB 9,077 in 2023.
Row 17: The effect of exchange rates on cash was RMB 29,077 negative in 2021, RMB 52,765 positive in 2022, and RMB 33,884 negative in 2023 (US$ 4,772).
Row 18: Year-end cash equivalents were RMB 1,907,283 in 2021, RMB 64,444 in 2022, and RMB 225,908 in 2023 (or US$ 31,818). [Table Level]  
- Table Title: company Intelligent Technology Holding Limited Combined and Consolidated Statements of Cash Flows for the Years Ended December 31, 2020, 2021, and 2022  
- Table Summary: This table provides a detailed account of cash flows stemming from financing activities, net changes in cash and cash equivalents, as well as supplementary disclosures of cash flow information and non-cash investing and financing activities for company Intelligent Technology Holding Limited over the fiscal years 2020, 2021, and 2022. The data is presented in RMB for 2020, 2021, and 2022, with an additional column in USD for 2022.   
- Context: The table is part of company Intelligent Technology Holding Limited's financial statements, which outlines the company's cash flow activities in detail for the stated fiscal years. The information reflects the company's financial operations, including share issuances, loan transactions, and cash balance changes.  
- Special Notes: Amounts are in thousands, except where otherwise noted. A conversion to USD is given for 2022 alongside RMB values, showing the financial figures in a contextual international currency view.   

[Row Level]  
Row 1: In 2021, company received RMB 2,000,000 from the issuance of ordinary shares, compared to no such proceeds in 2020 or 2022.  

Row 2: Issuance of preferred shares resulted in RMB 1,934,120 in 2021, RMB 1,268,360 in 2022, and USD 174,915 in 2022 after netting issuance costs.  

Row 3: Proceeds from short-term bank borrowings were RMB 447,483 in 2021, RMB 147,000 in 2022, and USD 20,272 in 2022, whereas no proceeds were recorded in 2020.  

Row 4: Short-term bank borrowings were repaid with RMB 368,420 in 2020, RMB 376,724 in 2021, RMB 751,359 in 2022, and USD 103,617 in 2022.  

Row 5: Long-term bank borrowings generated proceeds of RMB 972,042 in 2021, RMB 134,051 in 2022, and USD 18,490 in 2022, with no proceeds in 2020.  

Row 6: Repayments of long-term bank borrowings amounted to RMB 972,042 in both 2021 and 2022, as well as USD 134,051 in 2022, with none in 2020.  

Row 7: company procured related party loans of RMB 1,259,665 in 2020, RMB 299,683 in 2021, RMB 7,800,000 in 2022, and USD 1,075,669 in 2022.  

Row 8: Related party loan repayments were RMB 1,482,466 in 2020, RMB 3,090,676 in 2022, and USD 426,224 in 2022. No repayments occurred in 2021.  

Row 9: Advances from related parties totaled RMB 683,392 in 2020, with no further recorded advances in subsequent years.  

Row 10: Repayments of advances from related parties were also RMB 207,665 in 2021.  

Row 11: There was a capital contribution to company Hangzhou Bay from Geely Holding of RMB 500,000 in 2021 only.  

Row 12: Prior to reorganization, company Shanghai paid a dividend of RMB 1,811,833 recorded in 2020.  

Row 13: Net cash provided by financing activities was RMB 92,171 in 2020, RMB 2,785,064 in 2021, RMB 5,373,325 in 2022, and USD 741,015 in 2022.  

Row 14: There was a net decrease in cash, cash equivalents, and restricted cash of RMB 369,965 in 2020 and RMB 157,219 in 2022, but a net increase of RMB 3,794,771 in 2021 and USD 21,681 in 2022.  

Row 15: Cash, cash equivalents, and restricted cash at the beginning of the year were RMB 498,145 in 2020, RMB 141,929 in 2021, RMB 3,897,966 in 2022, and USD 537,554 in 2022.  

Row 16: The exchange rate changes on cash, cash equivalents, and restricted cash affected RMB 13,749 positively in 2020, whereas there was a negative impact of RMB 38,734 in 2021 and positive of RMB 14,157 in 2022 with USD 1,952 recorded in 2022.  

Row 17: The year-end cash, cash equivalents, and restricted cash values were RMB 141,929 in 2020, RMB 3,897,966 in 2021, RMB 3,754,904 in 2022, and USD 517,825 in 2022.  

Row 18: Supplementary disclosure shows cash paid for income tax as RMB 261,351 in 2020, RMB 56,046 in 2021, RMB 80,342 in 2022, and USD 11,080 in 2022.  

Row 19: Interest paid was RMB 199,204 in 2020, RMB 45,769 in 2021, RMB 60,808 in 2022, and USD 8,386 in 2022.  

Row 20: Accrued purchases of property and equipment were RMB 92,140 in 2020, RMB 94,158 in 2021, RMB 398,648 in 2022, and USD 54,976 in 2022.  

Row 21: There were amounts due to related parties in acquisition of long-term investments, totaling RMB 65,017 in 2021, with none in other years.  

Row 22: There was conversion of advances from the parent company to paid in capital worth RMB 822,000 in 2022, with no value for other years.  

Row 23: Amounts due from a related party for disposal of a long-term investment recorded RMB 5,671 in 2022, with no such value in earlier years. [Table Level]
- Table Title: Condensed Statements of Cash Flows for company Intelligent Technology Holding Limited
- Table Summary: The table outlines the cash flows from operating, investing, and financing activities for company Intelligent Technology Holding Limited for the years ended December 31, 2020, and 2021. It includes figures in RMB for both years and US dollars for 2021, detailing net income, changes in investments, financing activities, and the change in cash equivalents over this period.
- Context: This financial data provides insights into the cash flow changes within company Intelligent Technology Holding Limited, summarizing the financial inflows and outflows through net income, investments, and financing activities for two comparative fiscal years.
- Special Notes: Amounts are in thousands, except when noted otherwise. Figures for 2021 are provided both in RMB and US dollars based on Note 2d.

[Row Level]
Row 1: Cash flows from operating activities in 2020 resulted in a net income of RMB 103,600, while in 2021, there was a net loss of RMB 4,362,569 (equivalent to US$ 613,280).
Row 2: In 2020, losses from equity method investments amounted to RMB 103,600, compared to an income of RMB 4,364,657 or US$ 613,574 in 2021.
Row 3: No foreign exchange loss was reported in 2020, but a loss of RMB 152 and US$ 21 occurred in 2021.
Row 4: Net cash provided by operating activities was RMB 2,240 in 2020, and RMB 315 in 2021.
Row 5: Investments in subsidiaries involved RMB 2,000,000 or US$ 281,156 in 2021, with no such transactions in 2020.
Row 6: The net cash used in investing activities in 2021 amounted to RMB 2,000,000 or US$ 281,156, with no investments recorded in 2020.
Row 7: Financing activities in 2021 included proceeds of RMB 2,000,000 or US$ 281,156 from the issuance of ordinary shares by company Intelligent Technology Holding Limited, with no similar activity in 2020.
Row 8: Proceeds from the issuance of preferred shares, net of RMB 1,690 for issuance costs, contributed RMB 1,934,120 in 2020 and US$ 271,894 in 2021.
Row 9: In 2020, net cash provided by financing activities was RMB 3,934,120 compared to RMB 553,050 or US$ 271,894 in 2021.
Row 10: The net increase in cash and cash equivalents was RMB 1,936,360 in 2020, while in 2021, the net increase was RMB 272,209 or US$ 553,050.
Row 11: The cash and cash equivalents at the beginning of the year were not explicitly mentioned for either year.
Row 12: The effect of exchange rate changes on cash and cash equivalents was reported as RMB 29,077 in 2020 and US$ 4,087 in 2021.
Row 13: Ending cash and cash equivalents stood at RMB 1,907,283 in 2020 and decreased to RMB 268,122 or US$ 268,122 by the end of 2021. [Table Level]
- Table Title: Cash Flows for company Intelligent Technology Holding Limited (Years Ended December 31, 2021, 2022, and 2023)
- Table Summary: The table presents detailed cash flow activities for company Intelligent Technology Holding Limited over the three fiscal years, 2021 through 2023, in RMB and USD. It includes data on financing activities, changes in cash and cash equivalents, and supplementary disclosures related to both cash flow and non-cash investing and financing activities.
- Special Notes: Cash flows are expressed in thousands, and US dollar conversions are provided for 2023 under footnote 2(d). Important notes include issuance costs for preferred shares and specific cash-related activities.

[Row Level]
Row 1: In 2021, company generated RMB 2,000,000 from the issuance of ordinary shares, while no such proceeds are reported for 2022 and 2023.
Row 2: The proceeds from the issuance of preferred shares were RMB 1,934,120 in 2021, RMB 1,268,360 in 2022, and RMB 5,373,044 or USD 756,777 in 2023, net of issuance costs of RMB 1,690 in 2022 and RMB 2,134 in 2023.
Row 3: In 2021, proceeds from short-term bank borrowings totaled RMB 447,483, decreasing to RMB 147,000 in 2022, with no proceeds in 2023.
Row 4: Short-term bank borrowings were repaid to the extent of RMB 376,724 in 2021, and RMB 751,359 in 2022, with no repayments recorded in 2023.
Row 5: In 2022, company secured RMB 972,042 from long-term bank borrowings, but there are no recorded proceeds or repayments in 2021 and 2023.
Row 6: Both long-term borrowings in 2022 and 2023 show repayments of RMB 972,042, indicating no repayments in 2021.
Row 7: company received RMB 299,683 in related party loans for 2021, drastically increasing to RMB 7,800,000 in 2022, but showing no such proceeds in 2023.
Row 8: Related party loan repayments amounted to RMB 3,090,676 in 2022 and RMB 5,375,727 or USD 757,155 in 2023; there were no such repayments in 2021.
Row 9: The year 2021 includes repayments of advances from related parties totaling RMB 207,665; similar transactions occurred with RMB 122,115 in 2022 and RMB 17,200 in 2023 under supplementary disclosures.
Row 10: In 2021, a capital contribution from Geely Holding of RMB 500,000 was noted; no contributions for subsequent years.
Row 11: Prior to reorganization in 2021, company paid out RMB 1,811,833 in dividends, with no payments in 2022 and 2023.
Row 12: Net cash provided by financing activities was RMB 2,785,064 in 2021; RMB 5,373,325 in 2022; however, turned negative in 2023 at RMB (2,683) or USD (378).
Row 13: Net increase in cash, cash equivalents, and restricted cash for 2021 was RMB 3,794,771; 2022 saw a decrease to RMB (157,219); and 2023 ended with an increase of RMB 313,898 or USD 44,212.
Row 14: Starting cash equivalents and restricted cash were RMB 141,929 in 2021, increasing to RMB 3,897,966 in 2022, RMB 3,754,904 in 2023, and finally reaching USD 528,867.
Row 15: Exchange rate effects led to changes in cash, amounting to RMB (38,734) in 2021; in 2022 it adjusted by RMB 14,157, and in 2023 by RMB 35,947 or USD 5,063.
Row 16: The ending balance of cash, cash equivalents, and restricted cash was RMB 3,897,966 for 2021, RMB 3,754,904 in 2022, and RMB 4,104,749 or USD 578,142 in 2023.
Row 17: Cash paid for income tax in 2021 was RMB 56,046, increasing in 2022 to RMB 80,342; 2023 reported RMB 120,078 or USD 16,913.
Row 18: Interest paid amounted to RMB 45,769 in 2021; rising to RMB 60,808 in 2022, and RMB 209,571 or USD 29,517 for 2023.
Row 19: Non-cash investing activity included accrued purchases for property and equipment at RMB 94,158 in 2021, nearly quadrupling to RMB 398,648 in 2022, then RMB 497,651 or USD 70,093 for 2023.
Row 20: Disposal of property and equipment through related parties showed RMB 122,115 in 2022 and RMB 17,200 in 2023, with no transactions in 2021.
Row 21: Acquisition of long-term investments resulted in amounts due to related parties of RMB 65,017 in 2021; no amounts reported for 2022 and 2023.
Row 22: Conversion of advances from the parent company to paid-in capital was RMB 822,000 in 2021; no conversion noted in the following years. [Table Level]  
- Table Title: Supplemental Cash Flows Information Related to Leases  
- Table Summary: The table provides insights into cash flows and non-cash investing activities related to operating leases for the years ended December 31, 2021, 2022, and 2023. It focuses on the cash paid for measures of liabilities and right-of-use assets obtained in exchange for lease liabilities.  
- Context: Prior to the table, it is noted that the company did not recognize any variable lease cost or sublease income for the years 2021 and 2022, but recognized variable lease costs for 2023. Post-table, further lease-related information is provided including notes about land use rights and accounting standards compliance.  
- Special Notes: The values in the table are presented in RMB and denote amounts in thousands.  

[Row Level]  
Row 1: For the year ended December 31, 2021, cash paid for operating cash flows from operating leases was RMB 145,233, a figure which increased significantly over subsequent years.  
Row 2: Moving to 2022, the cash paid for operating cash flows from operating leases rose to RMB 439,994.  
Row 3: By the end of 2023, the cash paid for operating cash flows from operating leases further increased to RMB 703,282.  
Row 4: In 2021, the company obtained right-of-use assets for operating leases, in exchange for lease liabilities, valued at RMB 627,957, reflecting non-cash investing activities.  
Row 5: In 2022, these non-cash investing activities for right-of-use assets from operating leases escalated to RMB 1,227,674, denoting significant growth.  
Row 6: By 2023, the value of right-of-use assets obtained for operating leases slightly decreased to RMB 1,006,598, yet remained substantial compared to 2021. *[Table Level]  
- Table Title: Lease Expenses and Cash Flows Analysis  
- Table Summary: The table outlines financial figures related to the company's operating lease expenses and supplemental cash flows over three consecutive years, 2020, 2021, and 2022. It includes rental expenses recognized in financial statements and right-of-use assets obtained through lease liabilities during these periods.  
- Context: The provided data highlights the absence of variable lease costs and sublease income for the company. The cash flow information is crucial for understanding liabilities and expenses related to operating leases.  
- Special Notes: All amounts are presented in RMB and are in thousands. The contextual narrative mentions the straight-line basis accounting and ASC 842's considerations.  

[Row Level]  
Row 1: For the year ended December 31, 2020, the operating lease cost recognized as rental expenses was RMB 92,850 thousand.  
Row 2: For the year ended December 31, 2021, the operating lease cost recognized as rental expenses increased to RMB 145,233 thousand.  
Row 3: For the year ended December 31, 2022, the operating lease cost recognized as rental expenses further increased to RMB 439,994 thousand.  
Row 4: Cash flows information shows that the cash paid for amounts included in measurement of liabilities through operating leases was RMB 177,916 thousand in 2020.  
Row 5: In 2021, cash flows for operating leases surged significantly, with RMB 627,957 thousand paid for liabilities measurement.  
Row 6: Continuing this trend, in 2022, cash flows for operating leases reached RMB 1,227,674 thousand, reflecting increased leasing activities and costs. [Table Level]  
- Table Title: Supplemental Cash Flows and Non-cash Investing Activities Related to Leases  
- Table Summary: This table provides details on the cash flows from operating leases and the right-of-use assets obtained in exchange for lease liabilities for company Intelligent Technology Holding Limited over the years 2021, 2022, and 2023. It shows the amounts paid for these activities, which form part of company's lease liabilities measurement.  
- Context: Before the table, the document explains how operating lease costs and variable lease payments affect the financial statements. After the table, it continues with additional financial notes, indicating there are no uncommenced lease contracts as of December 31, 2023.  
- Special Notes: All amounts are in thousands of RMB. The context mentions that land use rights agreements are considered as operating leases under ASC 842.  

[Row Level]  
Row 1: For the year ended December 31, 2021, the cash paid for operating cash flows from operating leases was RMB 145,233.  
Row 2: For the year ended December 31, 2022, the cash paid for operating cash flows from operating leases increased to RMB 439,994.  
Row 3: For the year ended December 31, 2023, the cash paid for operating cash flows from operating leases further increased to RMB 703,282.  
Row 4: In 2021, right-of-use assets obtained in exchange for lease liabilities, classified as non-cash investing activities, amounted to RMB 627,957.  
Row 5: In 2022, right-of-use assets obtained in exchange for lease liabilities rose significantly to RMB 1,227,674.  
Row 6: By 2023, right-of-use assets obtained in exchange for lease liabilities decreased slightly, reaching RMB 1,006,598. The company's primary sources of liquidity have been through the operation of the business, financial support from the controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet working capital needs, business requirements, in particular research and development activities, as well as capital expenditure requirements. As of December 31, 2020, 2021, and 2022, and June 30, 2023, the company had cash and cash equivalents and restricted cash of RMB141.9 million, RMB3,898.0 million, RMB3,754.9 million (US$517.8 million), and RMB3,264.9 million (US$450.3 million), respectively. As of June 30, 2023, the company had related party loans of RMB1,200.0 million (US$165.5 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, the company entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement its working capital, and the company has no outstanding balance as of the date of this prospectus. On November 30, 2022, the company's subsidiary Ningbo Viridi entered into another 10-year loan with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB1.6 billion to supplement its working capital, and the outstanding balance was RMB1.1 billion as of the date of this prospectus. As of June 30, 2023, the company has obtained term loan credit facilities in the total principal amount of RMB15.4 billion from nine commercial banks, of which RMB3.4 billion has been pledged as collateral for issuing bank acceptance drafts. The company's primary sources of liquidity have been through the operation of the business, financial support from the controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet working capital, business needs, in particular research and development activities, as well as capital expenditure requirements. As of December 31, 2020, 2021, and 2022, and September 30, 2023, the company had cash and cash equivalents and restricted cash of RMB141.9 million, RMB3,898.0 million, RMB3,754.9 million (US$514.7 million), and RMB5,548.6 million (US$760.5 million), respectively. As of September 30, 2023, the company had related party loans of RMB1,100.0 million (US$150.8 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, Zhejiang ZEEKR entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement the company's working capital, and the company has no outstanding balance as of the date of this prospectus. On November 30, 2022, the company's subsidiary Ningbo Viridi entered into another 10-year loan with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB1.6 billion to supplement its working capital, and the outstanding balance was RMB1.1 billion as of the date of this prospectus. As of September 30, 2023, the company has obtained term loan credit facilities in the total principal amount of RMB12.0 billion from nine commercial banks, of which RMB4.6 billion has been pledged as collateral for issuing bank acceptance drafts. The company's primary sources of liquidity have been through the operation of the business, financial support from the controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet working capital needs, business requirements, in particular research and development activities, as well as capital expenditure requirements. As of December 31, 2020, 2021, and 2022, and June 30, 2023, the company had cash and cash equivalents and restricted cash of RMB141.9 million, RMB3,898.0 million, RMB3,754.9 million (US$517.8 million), and RMB3,264.9 million (US$450.3 million), respectively. As of June 30, 2023, the company had related party loans of RMB1,200.0 million (US$165.5 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, Zhejiang ZEEKR entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement the company's working capital, and the company has no outstanding balance as of the date of this prospectus. On November 30, 2022, the company's subsidiary Ningbo Viridi entered into another 10-year loan with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB1.6 billion to supplement its working capital, and the outstanding balance was RMB1.1 billion as of the date of this prospectus. As of June 30, 2023, the company has obtained term loan credit facilities in the total principal amount of RMB15.4 billion from nine commercial banks, of which RMB3.4 billion has been pledged as collateral for issuing bank acceptance drafts. The company's primary sources of liquidity have been through the operation of the business, financial support from the company's controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet the company's working capital, business needs, in particular the company's research and development activities, as well as the company's capital expenditure requirements. As of December 31, 2020, and 2021, and September 30, 2022, the company had cash and cash equivalents and restricted cash of RMB141.9 million, RMB3,898.0 million, and RMB5,588.1 million (US$785.6 million), respectively. As of September 30, 2022, the company had short-term borrowings of RMB147.0 million (US$20.7 million), long-term borrowings of RMB972.0 million (US$136.6 million), and related party loans of RMB7,417.8 million (US$1,042.8 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, the company entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement the company's working capital, and the company has drawn down the amount of RMB6.0 billion as of the date of this prospectus. As of the date of this prospectus, the company has obtained term loan credit facilities in the total principal amount of RMB9.9 billion from seven commercial banks and the company has drawn down the amount of approximately RMB338.5 million. The company is also proactively seeking capital resources from other sources, such as independent financing from other financial institutions that the company is able to obtain. The company's primary sources of liquidity have been through the operation of the business, financial support from the company's controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet the company's working capital and business needs, in particular the company's research and development activities, as well as the company's capital expenditure requirements. As of December 31, 2020, 2021, and 2022, and June 30, 2023, the company had cash and cash equivalents and restricted cash of RMB141.9 million, RMB3,898.0 million, RMB3,754.9 million (US$517.8 million), and RMB3,264.9 million (US$450.3 million), respectively. As of June 30, 2023, the company had related party loans of RMB1,200.0 million (US$165.5 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, the company entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement the company's working capital, and the company has no outstanding balance as of the date of this prospectus. On November 30, 2022, the company's subsidiary Ningbo Viridi entered into another 10-year loan with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB1.6 billion to supplement its working capital, and the outstanding balance was RMB1.1 billion as of the date of this prospectus. As of June 30, 2023, the company has obtained term loan credit facilities in the total principal amount of RMB15.4 billion from nine commercial banks, of which RMB3.4 billion has been pledged as collateral for issuing bank acceptance drafts. The company's primary sources of liquidity have been through the operation of the business, financial support from the controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet working capital, business needs, in particular research and development activities, as well as capital expenditure requirements. As of December 31, 2021, 2022, and 2023, the company had cash and cash equivalents and restricted cash of RMB3,898.0 million, RMB3,754.9 million, and RMB4,104.7 million (US$578.1 million), respectively. As of December 31, 2023, the company had related party loans of RMB1,100 million (US$154.9 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, Zhejiang ZEEKR entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement the company's working capital, and the company has no outstanding balance as of the date of this prospectus. On November 30, 2022, the company's subsidiary Ningbo Viridi entered into another 10-year loan with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB1.6 billion to supplement its working capital, and the outstanding balance was RMB1.1 billion as of the date of this prospectus. As of December 31, 2023, the company has obtained term loan credit facilities in the total principal amount of RMB15.2 billion from 11 commercial banks, of which RMB4.9 billion has been pledged as collateral for issuing bank acceptance drafts. The company's primary sources of liquidity have been through the operation of the business, financial support from the controlling shareholder, bank borrowings, and equity financing activities, which have historically been sufficient to meet working capital needs, business requirements, in particular research and development activities, as well as capital expenditure requirements. As of December 31, 2020, and 2021, and September 30, 2022, the company had cash and cash equivalents and restricted cash of RMB141.9 million and RMB3,898.0 million. million and RMB5,588.1 million (US\$785.6 million), respectively. As of September 30, 2022, the company had short-term borrowings of RMB147.0 million (US\$20.7 million), long-term borrowings of RMB972.0 million (US\$136.6 million), and related party loans of RMB7,417.8 million (US\$1,042.8 million). Historically, the company received financial support from Geely Holding in the form of inter-company loans, advances, and capital injection. On April 15, 2022, the company entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to supplement working capital, and the company has drawn down the amount of RMB6.0 billion as of the date of this prospectus. As of the date of this prospectus, the company has obtained term loan credit facilities in the total principal amount of RMB9.9 billion from seven commercial banks and has drawn down the amount of approximately RMB338.5 million. The company is also proactively seeking capital resources from other sources, such as independent financing from other financial institutions that can be obtained. [Table Level]
- Table Title: Cash, Cash Equivalents, and Restricted Cash Balances (Years Ended December 31, 2020, 2021, 2022)
- Table Summary: The table displays the yearly totals of cash, cash equivalents, and restricted cash held by company for the fiscal years 2020, 2021, and 2022. Amounts are presented in RMB for all years and in US dollars for 2022, demonstrating company's liquidity status.
- Context: company is involved in the commercialization and sales of electric vehicles, among other activities, and was incorporated in 2021. This financial information represents company's statements of cash flows for recent years and is indicative of its financial health.
- Special Notes: The figures are mainly in RMB. For 2022, there is an additional column with amounts in US dollars, which is denoted with Note 2(d). The amounts are expressed in thousands.

[Row Level]
Row 1: For the year 2020, company reported a total of 141,929 RMB in cash, cash equivalents, and restricted cash.
Row 2: In 2021, the total cash, cash equivalents, and restricted cash amounted to 3,897,966 RMB, including an additional 3,986 RMB as restricted cash.
Row 3: The year 2022 saw a total of 3,754,904 RMB in these accounts, with 193,360 RMB categorized under restricted cash.
Row 4: In 2022, there are also figures presented in US dollars, showing a total of $544,410, which includes $28,035 in restricted cash, according to Note 2(d). [Table Level]
- Table Title: Cash Flow Summary for the Years Ended December 31, 2021, 2022, and 2023
- Table Summary: This table presents a detailed summary of the cash flows from operating, investing, and financing activities for the years 2021, 2022, and 2023. It also shows the changes in cash, cash equivalents, and restricted cash due to exchange rate fluctuations, as well as the beginning and ending balances of cash, cash equivalents, and restricted cash.
- Context: The surrounding context discusses potential future cash needs due to various business conditions or opportunities. It explains how cash flow status can influence decisions on issuing securities or arranging credit, and cautions about potential dilution or operational restrictions.
- Special Notes: Values are presented in RMB for 2021 and 2022, and both RMB and US\$ for 2023, indicating currency exchange effects and conversions.

[Row Level]
Row 1: For the year ended December 31, 2021, the net cash provided by operating activities was RMB630,182 thousand, whereas in 2022, it turned negative with net cash used of RMB3,523,597 thousand. In 2023, net cash provided improved to RMB2,275,333 thousand (US\$320,475 thousand).
Row 2: Net cash provided by investing activities was positive at RMB379,525 thousand in 2021. However, it significantly declined in 2022 to a usage of RMB2,006,947 thousand and continued to be a usage in 2023 with an amount of RMB1,958,752 thousand (US\$275,885 thousand).
Row 3: The net cash provided by financing activities in 2021 was substantial at RMB2,785,064 thousand, followed by an increase to RMB5,373,325 thousand in 2022. In contrast, net cash used in 2023 was minimal, with RMB2,683 thousand (US\$378 thousand).
Row 4: In 2021, the net increase in cash, cash equivalents, and restricted cash was RMB3,794,771 thousand, moving to a decrease of RMB157,219 thousand in 2022. In 2023, there was a net increase again amounting to RMB313,898 thousand (US\$44,212).
Row 5: Cash, cash equivalents, and restricted cash at the beginning of the year were RMB141,929 thousand in 2021, which increased significantly to RMB3,897,966 thousand in 2022 and started at RMB3,754,904 thousand (US\$528,867) in 2023.
Row 6: The effect of exchange rate changes on cash, cash equivalents, and restricted cash showed a loss of RMB38,734 thousand in 2021, followed by a gain of RMB14,157 thousand in 2022, and further gains of RMB35,947 thousand (US\$5,063) in 2023.
Row 7: By the end of 2021, cash, cash equivalents, and restricted cash were RMB3,897,966 thousand, decreased slightly to RMB3,754,904 thousand by the end of 2022, and further increased to RMB4,104,749 thousand (US\$578,142) by the end of 2023.
The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • ZEEKR 001. With an unwavering commitment to the company's mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by its strong in-house R&D capabilities, high operational flexibility, and flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. As a testament to the popularity of the company's current vehicle models and its capabilities, the company has achieved a total delivery of 10,000 units of the ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of the ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over. Cash, cash equivalents, and restricted cash as reported in the combined and consolidated statements of cash flows are presented separately on the company's combined and consolidated balance sheet as follows: Cash and cash equivalents  
Restricted cash  
Total cash, cash equivalents, and restricted cash [Table Level]  
- Table Title: company Intelligent Technology Holding Limited Financial Cash Flow Summary for 2020, 2021, and 2022  
- Table Summary: The table presents the cash flow amounts for company Intelligent Technology Holding Limited over three years, measured in RMB for 2020 and 2021, and both RMB and USD for 2022. It showcases the company's increase or decrease in cash, cash equivalents, and restricted cash during these periods.  
- Context: company Intelligent Technology Holding Limited, incorporated in the Cayman Islands, is focused on electric vehicles and related services. The table reflects financial activities linked to this business operation, specifically regarding cash flow.  
- Special Notes: The 2022 USD figures are noted as per "Note 2(d)" which may include specific currency conversion or policy information.  

[Row Level]  
- Row 1: In 2020, company Intelligent Technology Holding Limited reported cash flows of 141,929 RMB.  
- Row 2: For 2021, company Intelligent Technology Holding Limited's cash flows significantly increased to 3,893,980 RMB, with an additional 3,986 RMB in restricted cash flows, totaling 3,897,966 RMB.  
- Row 3: In 2022, company Intelligent Technology Holding Limited had cash flows of 3,561,544 RMB, with restricted cash flows amounting to 193,360 RMB, making the total cash flow 3,754,904 RMB.  
- Row 4: The cash flows for 2022 are also presented in USD totaling 491,159 USD, along with restricted cash flows of 26,666 USD, culminating in a total of 517,825 USD. [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Cash Flows
- Table Summary: The table presents the condensed statements of cash flows for company Intelligent Technology Holding Limited for the years ended December 31, 2020, 2021, and 2022. It reflects cash flows from operating, investing, and financing activities, alongside changes in cash and cash equivalents throughout these periods.
- Context: Prior context outlines the inclusion of the financial statements and notes for company's parent company, indicating the necessity of providing financial data due to subsidiary asset restrictions. The post-table context refers to regulatory requirements mandating this presentation.
- Special Notes: Values are in thousands, with amounts presented in both RMB and USD (denoted as per Note 2d).

[Row Level]
Row 1: In 2020, the net income was RMB 103,600. In 2021, company Intelligent Technology Holding Limited shifted to a net loss of RMB 4,362,569. For 2022, the loss was RMB 7,933,779, equating to USD 1,094,118 per Note 2d.
Row 2: The loss from equity method investments in 2020 was RMB (103,600). In 2021, income was RMB 4,364,657, and in 2022, it was RMB 7,940,073 or USD 1,094,986.
Row 3: There was no foreign exchange impact recorded in 2020, while a foreign exchange income of RMB 152 was recorded in 2021, shifting to a loss of RMB (50,875) in 2022 or USD (7,016).
Row 4: No amounts were due from subsidiaries in 2020 and 2021; however, in 2022, there was a due of RMB (5,803) or USD (800).
Row 5: There were no other current assets recorded in prior years, with 2022 reporting RMB (3,562) or USD (491).
Row 6: Accrued expenses and other current liabilities resulted in a net outflow of RMB 1,241 in 2021, and RMB 171 in 2022 or USD 24.
Row 7: The table reports net cash provided by operating activities of RMB 2,240 in 2021, compared to a net cash used of RMB (52,705) in 2021, and RMB (7,268) or USD (1,007) in 2022.
Row 8: Cash flows from investing activities include advances to subsidiaries, with no value in 2020, and resulted in RMB (571,259) in 2021, and RMB (78,780) or USD (11,159) in 2022.
Row 9: Investments in subsidiaries amounted to RMB (2,000,000) in 2020, RMB (2,540,000) in 2021, and RMB (350,282) or USD (49,613) for 2022.
Row 10: Net cash used in investing activities indicated an outflow of RMB (2,000,000) in 2020, RMB (3,111,259) in 2021, and RMB (429,062) or USD (60,773) in 2022.
Row 11: Cash flows from financing activities included proceeds from the issuance of ordinary shares by company Intelligent Technology Holding Limited recorded at RMB 2,000,000 in 2020.
Row 12: There were no proceeds from the issuance of preferred shares net of issuance costs in 2020, while in 2021 it was RMB 1,934,120, followed by RMB 1,268,360 in 2021 and RMB 174,914 in 2022 or USD 24,772.
Row 13: The net cash provided by financing activities was RMB 3,934,120 in 2020, RMB 1,268,360 in 2021, and RMB 174,914 or USD 24,772 in 2022.
Row 14: The net increase/decrease in cash and cash equivalents was an increase of RMB 1,936,360 in 2020, followed by a decrease of RMB (1,895,604) in 2021, and RMB (261,416) or USD (37,008) in 2022.
Row 15: Starting cash and cash equivalents were not recorded in prior years but began at RMB 1,907,283 in 2021, and RMB 263,026 or USD 37,008 in 2022.
Row 16: The effect of exchange rate changes on cash and cash equivalents was not reported in 2020 but affected RMB (29,077) in 2021, and increased by RMB 52,765 or USD 7,277 in 2022.
Row 17: Cash and cash equivalents at year-end totaled RMB 1,907,283 in 2020, RMB 64,444 in 2021, and RMB 8,887 or USD 1,296 in 2022. [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Cash Flows for the Year Ended December 31, 2021, 2022, and 2023
- Table Summary: The table presents the condensed statements of cash flows for company Intelligent Technology Holding Limited. It includes cash flows from operating, investing, and financing activities for the years 2021, 2022, and 2023, both in RMB and USD. The table outlines specific items contributing to cash flow changes and the net cash effect at the end of each year.
- Context: Following the financial statements schedule and balance sheet, the table provides detailed financial information about company Intelligent Technology Holding Limited's cash flow activities. It is part of the requirements under Regulation S-X due to restricted net assets exceeding 25 percent of consolidated net assets.
- Special Notes: Amounts are noted in thousands, and there is a reference to specific footnotes, such as Note 2d for USD conversion and issuance costs of preferred shares in 2022 and 2023.

[Row Level]
Row 1: The year 2021 recorded a net loss of RMB 4,362,569, while a loss from equity method investments was RMB 4,364,657, and foreign exchange income amounted to RMB 152.
Row 2: In 2022, a net loss stood at RMB 7,933,779 with equity method investment losses at RMB 7,940,073. This year saw a foreign exchange loss of RMB 50,875.
Row 3: Net loss for 2023 was RMB 8,346,980, mirrored by a loss from equity method investments of RMB 8,416,038. No foreign exchange income or loss is reported.
Row 4: For 2023, these values in USD, per Note 2d, are -1,175,648 for net loss, 1,185,374 for equity method investment loss, with no foreign exchange component.
Row 5: The changes in operating assets and liabilities with no acquisitions resulted in negligible amounts due from subsidiaries. Other current asset changes ranged from RMB -3,562 in 2022 to RMB -22,079 in 2023, with a rise in accrued expenses observed predominantly in 2023.
Row 6: Net cash generated from operating activities showed fluctuating results: RMB 2,240 in 2021, followed by a decrease to RMB -52,705 in 2022, and a subsequent increase to RMB 60,029 in 2023 (USD 8,454).
Row 7: Cash flows from investing activities included loan and advance adjustments to subsidiaries generating amounts of RMB -571,259 in 2022, dropping to RMB -9,438 in 2023.
Row 8: Repayment of loans to subsidiaries amounted to RMB 633,526 in 2023 (USD 89,230). Investments in subsidiaries remain consistent, ranging from RMB -2,000,000 in 2021 to RMB -5,861,813 in 2023 (USD -825,619).
Row 9: Consequently, net cash used in investing activities reflected significant outflows amounting to RMB -2,000,000 in 2021 to RMB -5,237,725 in 2023 (USD -737,718).
Row 10: Financing activities indicate proceeds of RMB 2,000,000 from ordinary shares issued in 2021. Preferred shares net of issuance costs generated RMB 1,934,120 in 2021, RMB 1,268,360 in 2022, and escalated to RMB 5,373,044 in 2023 (USD 756,777).
Row 11: Total net cash provided by financing activities varied across years from RMB 3,934,120 in 2021 to RMB 5,373,044 in 2023 (USD 756,777).
Row 12: The net change in cash and cash equivalents is reported as RMB 1,936,360 in 2021, decreasing then to RMB 195,348 in 2023 (USD 27,513). Starting cash equivalents were RMB 1,907,283 in 2021 and RMB 64,444 in 2022, improving to RMB 225,908 in 2023 (USD 31,818).
Row 13: Effects of exchange rate changes impacted cash equivalents, with net movements of RMB -29,077 in 2021, RMB 52,765 in 2022, and RMB -33,884 in 2023 (USD -4,772).
Row 14: Consequently, cash equivalents at the end of 2021 were RMB 1,907,283, decreasing in 2022 to RMB 64,444, then rising to RMB 225,908 by the end of 2023 (USD 31,818). [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Cash Flows
- Table Summary: The table presents the cash flows from operating, investing, and financing activities for company Intelligent Technology Holding Limited over three consecutive years (2021, 2022, and 2023) in RMB currency, along with a conversion into USD for 2023. It highlights changes in cash and cash equivalents, net losses, and various financial transactions across these periods.
- Context: The table is part of the financial statement schedule that provides a condensed financial overview, including balance sheets and statements of operations, for fiscal years ending December 31, 2021, 2022, and 2023.
- Special Notes: The amounts are represented in thousands except where specific shares are mentioned. The RMB to USD conversion in 2023 adheres to Note 2d. Additional notes relate to the issuance costs of preferred shares for 2022 and 2023.

[Row Level]
Row 1: The net loss from operating activities was RMB 4,362,569 in 2021, increased to RMB 7,933,779 in 2022, and slightly rose to RMB 8,346,980 in 2023, which corresponds to USD 1,175,648 as per note 2d.

Row 2: The loss from equity method investments was RMB 4,364,657 in 2021, increased to RMB 7,940,073 in 2022, and further rose to RMB 8,416,038 in 2023, equating to USD 1,185,374.

Row 3: Foreign exchange loss for 2021 was RMB 152, while in 2022 it was a gain of RMB 50,875; no foreign exchange loss is recorded for 2023.

Row 4: For amounts due from subsidiaries, there was no recorded change in 2021, a decline of RMB 5,803 in 2022, and an increase of RMB 5,803 in 2023, converted to USD 817.

Row 5: Other current assets had negligible fluctuation, decreasing slightly by RMB 3,562 in 2021, then reducing further by RMB 22,079 in 2022, and decreasing by RMB 3,110 again in 2023, which is USD 821.

Row 6: Accrued expenses and other current liabilities showed no change in 2021 but increased by RMB 1,241 in 2022, and further increased to RMB 7,247 in 2023, equating to USD 1,021.

Row 7: The net cash provided by operating activities was RMB 2,240 in 2021, experienced a decrease to RMB -52,705 in 2022, and increased to RMB 60,029 in 2023, which corresponds to USD 8,454.

Row 8: Cash flows from loans and advances to subsidiaries started from no recorded change in 2021, increased to RMB 571,259 in 2022, and rose further to RMB 9,438 in 2023, equivalent to USD 1,329.

Row 9: Repayments of loans and advances to subsidiaries had no changes in 2021, increased to RMB 633,526 in 2022, and converted to USD 89,230, and they recorded no value change for 2023.

Row 10: Investments in subsidiaries involved a cash outflow of RMB 2,000,000 in 2021, increased to RMB 2,540,000 in 2022, and further increased to RMB 5,861,813 in 2023, which corresponds to USD 825,619.

Row 11: The net cash used in investing activities was RMB 2,000,000 in 2021, increased to RMB 3,111,259 in 2022, and rose further to RMB 5,237,725 in 2023, equating to USD 737,718.

Row 12: Financing activities showed RMB 2,000,000 from the issuance of ordinary shares in 2021, no issuance recorded for 2022 or 2023.

Row 13: Proceeds from the issuance of preferred shares were RMB 1,934,120 in 2021, slightly increased to RMB 1,268,360 in 2022, and significantly rose to RMB 5,373,044 in 2023, corresponding to USD 756,777. Note the issuance costs of RMB 1,690 for 2022 and RMB 2,134 for 2023.

Row 14: Net cash provided by financing activities reached RMB 3,934,120 in 2021, decreased to RMB 1,268,360 in 2022, and increased to RMB 5,373,044 for 2023, converting to USD 756,777.

Row 15: Net increase in cash and cash equivalents was RMB 1,936,360 in 2021, decreased to RMB 1,895,604 in 2022, and then increased again to RMB 195,348 in 2023, which corresponds to USD 27,513.

Row 16: Cash equivalents at the beginning of the year were RMB 1,907,283 for 2021, decreased significantly to RMB 64,444 by 2022 and further recorded RMB 9,077 in 2023.

Row 17: Effect of exchange rate changes on cash and cash equivalents resulted in a reduction of RMB 29,077 in 2021, experienced an increase to RMB 52,765 for 2022, and affected again with a reduction of RMB 33,884 in 2023, converting to USD 4,772.

Row 18: At the end of the year, the cash equivalents showed RMB 1,907,283 in December 31, 2021, decreased to RMB 64,444 in 2022, and increased substantially to RMB 225,908 in 2023, which corresponds to USD 31,818. Issuance of preferred shares  
Acquisition of CEVT in connection with the Reorganization  
Net loss  
Share-based compensation  
Foreign currency translation adjustment [Table Level]  
- Table Title: company Intelligent Technology Holding Limited Cash Flows Statement for Nine Months Ended September 30, 2021 and 2022  
- Table Summary: This table provides a detailed breakdown of the cash flows from operating and investing activities for company Intelligent Technology Holding Limited over the nine months ending September 30 for the years 2021 and 2022. It showcases specific adjustments, changes in assets and liabilities, and cash flow from various investing activities.  
- Context: The table is part of the financial document for company Intelligent Technology Holding Limited, which includes a balance sheet and statement of operations, outlining the company's financial activities in terms of cash flow related to operations and investments as of the specified dates.  
- Special Notes: The amounts are presented in thousands and include figures in RMB for both years and in USD for 2022 under Note 2c.  

[Row Level]  
Row 1: For the nine months ending September 30, the net loss for company Intelligent Technology Holding Limited in 2021 was RMB (2,653,974), while in 2022 it was RMB (5,317,214), equivalent to US$ (747,482).  

Row 2: Adjustments include share-based compensation, which was RMB 96,080 in 2021 and increased to RMB 177,910 (US$ 25,010) in 2022.  

Row 3: Depreciation and amortization expenses amounted to RMB 64,018 in 2021 and rose to RMB 193,599 (US$ 27,216) in 2022.  

Row 4: Deferred taxes affected cash flow with a reversal of RMB (18,276) in 2021 and an expense of RMB 64,457 (US$ 9,061) in 2022.  

Row 5: Loss from disposal of property and equipment in 极氪1 was RMB 61; this item was not recorded in 2022.  

Row 6: The share of losses in equity method investments was RMB 10,533 in 2021, increasing to RMB 70,387 (US$ 9,895) in 2022.  

Row 7: Foreign exchange loss contributed RMB 87,391 in 2021, while a gain (shown as a negative impact) of RMB (77,138) (US$ -10,844) is recorded in 2022.  

Row 8: (Reversal of) provision for allowance for credit losses was RMB (5,499) in 2021 and RMB 7,281 (US$ 1,024) in 202极氪2.  

Row 9: Changes in operating assets and liabilities show accounts receivable reduced by RMB (417,036) in 2021 and by RMB (15,452) (US$ -2,172) in 2022.  

Row 10: Notes receivable saw a drop of RMB (60,777) in 2021 and RMB (37,848) (US$ -5,321) in 2022.  

Row 11: Inventories had a significant decrease of RMB (182,654) in 2021 and further dropped by RMB (1,500,871) (US$ -210,989) in 2022.  

Row 12: Amounts due from related parties decreased by RMB (35,866) in 2021 and RMB (2,492,921) (US$ -350,449) in 2022.  

Row 13: Prepayments and other current assets reduced by RMB (216,709) in 2021 and RMB (432,314) (US$ -60,774) in 2022.  

Row 14: Other non-current assets decreased by RMB (24,966) in 2021 and further reduced by RMB (130,978) (US$ -18,413) in 2022.  

Row 15: Accounts payable increased with a cash inflow of RMB 352,391 in 2021, rising significantly to RMB 1,830,785 (US$ 257,368) in 2022.  

Row 16: Notes payable generated a cash inflow of RMB — in 2021 and RMB 1,519,696 (US$ 213,635) in 2022.  

Row 17: Amounts due to related parties increased by RMB 3,317,800 in 2021 and RMB 1,295,249 (US$ 182,083) in 2022.  

Row 18: Accruals and other current liabilities generated cash inflows of RMB 703,161 in 2021 and reduced to RMB 877,235 (US$ 123,320) in 2022.  

Row 19: Operating lease right-of-use assets experienced cash outflows of RMB (133,983) in 2021 and RMB (1,010,769) (US$ -142,092) in 2022.  

Row 20: Operating lease liabilities showed cash inflows极氪 RMB 136,445 in 2021 and RMB 992,474 (US$ 139,520) in 2022.  

Row 21: Changes in income tax payable reduced cash by RMB (33,727) in 2021 and showed a cash inflow of RMB 3,842 (US$ 540) in 2022.  

Row 22: Other non-current liabilities resulted in a cash outflow of RMB (1,813) in 2021 and showed an inflow of RMB 180,482 (US$ 25,372) in 2022.  

Row 23: Net cash provided by (used in) operating activities resulted in a net inflow of RMB 982,600 for 2021, while 2022 showed a net outflow of RMB (3,802,108) (US$ -534,492).  

Row 24: Cash flows from investing activities included purchases of property, plant, and equipment with cash outflows of RMB (462,310) in 2021 and RMB (689,710) (US$ -96,958) in 2022.  

Row 25: Purchases of intangible assets showed cash outflows of RMB (11,912) in 2021 and RMB (13,351) (US$ -1,877) in 2022.  

Row 26: Cash used for investments in equity investees was RMB (120,000) in 2021 and increased to RMB (442,017) (US$ -62,138) in 2022.  

Row 27: Proceeds from disposal of long-term investments generated inflows of RMB 306,240 in 2021, reduced to RMB 9,000 (US$ 1,265) in 2022.  

Row 28: Proceeds from disposal of property and equipment amounted to cash inflows of RMB 19 in 2021 and merely RMB 3 in 2022.  

Row 29: Repayments received for advances to related parties/advances from related parties were significant at RMB 2,469,867 in 2021, turning into a cash outflow of RMB (91,130) (US$ -12,811) in 2022. The company entered into foreign currency forward contracts to protect the company against the volatility of future cash flows caused by the changes in foreign exchange rates between RMB and EUR. The notional amount under those forward contracts was EUR53.0 million as of December 31, 2024, and those contracts have expired or will expire, as the case may be, during the period from January 2025 to May 2025. Other than the foregoing, the company has not entered into any off-balance sheet financial guarantees or other off-balance sheet commitments to guarantee the payment obligations of any third parties. The company has not entered into any derivative contracts that are indexed to the company's shares and classified as shareholder’s equity or that are not reflected in the combined and consolidated financial statements. Furthermore, the company does not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity, or market risk support to such entity. The company does not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk, or credit support to the company or engages in leasing, hedging, or product development services with the company. [Table Level]  
- Table Title: Summary Combined and Consolidated Cash Flow Data  
- Table Summary: This table illustrates the summary of combined and consolidated cash flow data for the years ending December 31, 2021, 2022, and 2023. It shows the figures in RMB for 2021 and 2022, and in both RMB and USD for 2023, highlighting cash flows from operating, investing, and financing activities.  
- Context: The context before this table discusses the derivation of financial data from audited financial statements. It is communicated that this financial data isn't necessarily indicative of future results and should be considered alongside deeper financial analysis. After the table, the context shifts to monthly vehicle deliveries and their importance as a measure of operational performance.  
- Special Notes: Monetary values for each year are noted in thousands. The 2023 values are also converted into USD.  

[Row Level]  
Row 1: In 2021, net cash provided by operating activities was RMB 630,182 thousand. In 2022, there was a negative cash flow of RMB 3,523,597 thousand, transitioning back to a positive cash flow of RMB 2,275,333 thousand in 2023, equivalent to USD 320,475 thousand.  

Row 2: Net cash provided by investing activities in 2021 amounted to RMB 379,525 thousand. The following year, 2022, saw a use of cash, resulting in a negative flow of RMB 2,006,947 thousand, followed by another year of negative cash flows in 2023 at RMB 1,958,752 thousand, which translates to USD 275,885 thousand.  

Row 3: In 2021, financing activities provided net cash of RMB 2,785,064 thousand, increasing significantly to RMB 5,373,325 thousand in 2022. However, 2023 saw a reverse with a negative cash flow of RMB 2,683 thousand, amounting to USD 378.  

Row 4: The net increase in cash, cash equivalents, and restricted cash was a positive value of RMB 3,794,771 thousand in 2021, compared to a decrease of RMB 157,219 thousand in 2022, and a positive increase of RMB 313,898 thousand in 2023, equal to USD 44,212.  

Row 5: The cash, cash equivalents, and restricted cash at the beginning of 2021 were RMB 141,929 thousand, substantially increasing to RMB 3,897,966 thousand at the beginning of 2022, and slightly decreasing to RMB 3,754,904 thousand at the start of 2023, equivalent to USD 528,867.  

Row 6: The effect of exchange rate changes on cash, cash equivalents, and restricted cash was negative RMB 38,734 thousand in 2021, converting to positive impacts of RMB 14,157 thousand in 2022, and further increasing to RMB 35,947 thousand in 2023, which converts to USD 5,063.  

Row 7: Cash, cash equivalents, and restricted cash at the end of 2021 were RMB 3,897,966 thousand, reducing slightly to RMB 3,754,904 thousand by the end of 2022, and increasing again to RMB 4,104,749 thousand by the end of 2023, which is equivalent to USD 578,142. Cash, cash equivalents, and restricted cash as reported in the combined and consolidated statements of cash flows are presented separately on the company's combined and consolidated balance sheet as follows:  
Cash and cash equivalents  
Restricted cash  
Total cash, cash equivalents, and restricted cash [Table Level]
- Table Title: company Intelligent Technology Holding Limited Cash Flow Summary
- Table Summary: This table provides detailed monetary values representing cash and restricted cash for the years 2021, 2022, and 2023. It includes figures in both RMB and US$ for 2023, with underlined totals indicating combined cash flows for each year.
- Context: The table belongs to the combined and consolidated financial statements of company Intelligent Technology Holding Limited, focusing on cash flow reporting across three consecutive years ending December 31.
- Special Notes: Note 2(d) affects the US$ values for 2023 and all values are expressed in thousands. The totals are indicated with underlined formatting.

[Row Level]
- Row 1: In the year 2021, cash amounted to RMB 3,893,980 and restricted cash was RMB 3,986, resulting in a total of RMB 3,897,966.
- Row 2: For 2022, cash holdings totaled RMB 3,561,544, while restricted cash reached RMB 193,360, culminating in a combined total of RMB 3,754,904.
- Row 3: In 2023, cash was recorded at RMB 3,260,670 and restricted cash reached RMB 844,079, leading to a total of RMB 4,104,749.
- Row 4: The 2023 figures in US$ are impacted by Note 2(d), where cash reported was $459,256 and restricted cash was $118,886, adding to a total of $578,142.