What is the size of Zeekr's IPO in 2024? What is the pricing of Zeekr's IPO in 2024?
On November 14, 2024, Luckview entered into a sale and purchase agreement (the "company Sale and Purchase Agreement") with Geely International (Hong Kong) Limited ("GIHK"), a wholly owned subsidiary of Geely Holding, pursuant to which GIHK agreed to sell, and Luckview agreed to buy, 300,000,000 Ordinary Shares (the "Sale Shares") for an aggregate consideration of US\$806,100,000, or \$26.87 per ADS (reflecting the 15-day volume weighted average price per ADS on the New York Stock Exchange for the 15-trading day period ending on (and including) the last trading day immediately prior to the date of the company Sale and Purchase Agreement) (such transaction, the "Acquisition of company Shares"), subject to the terms and conditions set forth therein. The Acquisition of company Shares was completed on December 31, 2024. The consideration of the Acquisition of company Shares was funded by the internal cash reserve of Geely Auto and its subsidiaries. The company Sale and Purchase Agreement contains customary representations and warranties from each of Geely International (Hong Kong) Limited (as seller) and Luckview (as buyer) and is subject to customary closing conditions for a transaction of this nature. The description of the company Sale and Purchase Agreement contained herein is qualified in its entirety by reference to Exhibit 99.2, which is incorporated herein by reference. Luckview became a registered shareholder of company prior to company's initial public offering of ADSs in the United States (the "company IPO") in May 2024. Immediately prior to the company IPO, Luckview was the registered owner of 1,240,000,000 Ordinary Shares. [Table Level]  
- Table Title: Changes in Shareholders' Deficit for company Intelligent Technology Holding Limited  
- Table Summary: The table details the changes in the shareholders' deficit for company Intelligent Technology Holding Limited over the year ending December 31, 2024. It provides information on ordinary shares, preferred shares, treasury shares, additional paid-in capital, accumulated deficit, and shareholder interests, among other metrics. The data illustrates adjustments due to share issuance, conversion, net losses, and other compensatory actions.  
- Context: This table continues from prior statements outlining changes in shareholders' deficit for company Intelligent Technology Holding Limited from the start of 2024. It is accompanied by notes that are part of company Intelligent Technology Holding Limited's consolidated financial statements and precedes similar financial statements for cash flows through 2022 to 2024.  
- Special Notes: All financial amounts are presented in RMB and the amounts are listed in thousands, excluding share and per-share data. Specific financial transactions such as IPOs and currency adjustments are marked throughout.  

[Row Level]  
Row 1: As of January 1, 2024, there were 2,000,000,000 ordinary shares outstanding with a base value of RMB 2,584 and 265,846,254 preferred shares valued at RMB 362. The additional paid-in capital stood at RMB 11,213,798, with an accumulated deficit of RMB (20,865,686). The total shareholders' deficit amounted to RMB (8,678,600).  

Row 2: Following an initial public offering, 241,500,000 ordinary shares were issued, bringing in RMB 349, while incurring issuance costs of RMB 79,138. This transaction increased additional paid-in capital by RMB 3,464,995. The total company Intelligent Technology Holding Limited deficit decreased to RMB (9,631,387), and the total deficit shifted to RMB 3,465,344.  

Row 3: Upon the IPO consummation, 265,846,254 preferred shares were converted into ordinary shares, altering their value by RMB (362) each, thus eliminating their individual outstanding values in favor of the increased ordinary shares category.  

Row 4: An additional 45,555,414 shares were issued on vesting RSUs at RMB 66, contributing to the shares outstanding balance and maintaining the total shareholders' deficit at RMB 66.  

Row 5: A repurchase of 10,930,530 ordinary shares occurred without issuing preferred shares. This action resulted in an increase in treasury shares valued at RMB 10,930,530 and contributed RMB (186,812) to the accumulated deficit, while adjusting other values accordingly and leading to a notable deficit change to RMB (6,423,570).  

Row 6: Recorded net loss added a significant RMB (6,423,570) to the accumulated deficit, simultaneously reflecting the total shareholders' deficit as RMB (5,790,649).  

Row 7: Share-based compensation actions attributed an increase of RMB 1,078,296 to additional paid-in capital, yet maintained the current deficit figures and displayed a substantially unchanged position in shareholders’ deficit.  

Row 8: A foreign currency translation adjustment adjusted the accumulated other comprehensive income by RMB (40,474) while leaving total shareholder figures and other aspects largely unaffected or maintained.  

Final Row: As of December 31, 2024, 2,541,971,138 ordinary shares remain outstanding, valued at RMB 3,361 along with total treasury shares totaling 10,930,530 in number with RMB 10,930,530. This concluded the year with an additional paid-in capital recorded as RMB 15,757,089, while accumulated deficits sum to RMB (186,812), and total shareholders’ deficit now holds at RMB (10,152,829). [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.
Company Innovation currently holds a 100% equity interest in Company Tech EU through Zhejiang ZEEKR. In November 2022, the company launched its second BEV model, Company 009, and started delivery in January 2023. The company later launched and started the delivery of Company 009 Grand, a luxury version of Company 009 featuring enhanced safety, privacy, and intelligence, in May 2024. In April 2023, the company launched the Company X, its compact SUV model, and began to deliver the Company X in June 2023. In January 2024, the company started to deliver its first upscale sedan model targeting tech-savvy adults and families. In May 2024, Company Innovation completed an initial public offering and was listed on the New York Stock Exchange under the symbol “ZK.” In June 2024, the company officially expanded its presence into the Southeast Asia market. In September 2024, the company officially unveiled and began the delivery of its premium electric five-seater SUV, the Company 7X. In October 2024, the company officially launched and commenced deliveries of the Company MIX. 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 $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company's selling, general and administrative expenses increased by 39.4% from RMB 6,920.6 million in 2023 to RMB 9,647.4 million (US$ 1,321.7 million) in 2024. This increase was in line with business expansion, primarily because (i) the company's employee compensation increased from RMB 2,297.2 million to RMB 3,519.9 million (US$ 482.2 million) in 2023 and 2024, respectively, due to share-based compensation expenses recognized for IPO-conditioned rewards that were cumulatively vested upon the company's successful IPO, and the size of the company's selling, general and administrative team increased from approximately 6,618 members to 7,895 members as of December 31, 2023 and 2024, respectively, to expand the company's offline channels globally. (ii) The company's marketing and promotional expenses increased from RMB 1,802.3 million to RMB 1,843.9 million (US$ 252.6 million) in 2023 and 2024, respectively, mainly due to more frequent marketing and advertising campaigns for the company's models in China and overseas, and (iii) an increase in the rental and related expenses from RMB 998.9 million to RMB 1,445.2 million (US$ 198.0 million) in 2023 and 2024, respectively, mainly due to the expansion of the company's offline network. The company's gross profit increased by 81.7% from RMB6,850.5 million in 2023 to RMB12,447.5 million (US$1,705.3 million) in 2024, which was primarily due to (i) an increase in gross profit from vehicle sales from RMB5,080.2 million in 2023 to RMB8,650.3 million (US$1,185.1 million) in 2024; (ii) an increase in gross profit from sales of batteries and other components from RMB884.5 million in 2023 to RMB2,312.7 million (US$316.8 million) in 2024; and (iii) an increase in gross profit from research and development services from RMB885.8 million in 2023 to RMB1,484.5 million (US$203.4 million) in 2024. The company's gross profit margin increased from 13.3% in 2023 to 16.4% in 2024. The increase was mainly attributable to the slight growth of the company's vehicle sales business, which had a higher gross profit margin at 15.6% in 2024. The gross profit and gross profit margin for the company in 2024 were RMB9,948.7 million (US$1,363.0 million) and 17.0%, respectively, compared with RMB5,791.9 million and 16.3% in 2023. The increase was primarily attributed to (i) the increase in delivery volume of the company's vehicles together with changes in pricing strategy to align with market dynamics and (ii) procurement savings due to the declining average costs in auto parts and other materials. For the Viridi Segment, the company recorded RMB954.2 million and RMB2,386.6 million (US$327.0 million) in gross profit and recorded gross profit margins of 5.2% and 13.3% in 2023 and 2024, respectively. The increase was primarily due to the growth in overseas sales of battery components, which had higher average gross margins. 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. 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. 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. The development and sales of battery electric vehicles (BEVs) is the company's business focus and contribute to an increasing portion of the company's revenue since the launch of the ZEEKR 001, the company's first mass-produced BEV model. The company released the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched the second vehicle model, ZEEKR 009, and started to deliver the ZEEKR 009 to customers in January 2023. In April 2023, the company released the ZEEKR X, the company's compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023 and began to deliver the company's first upscale sedan model in January 2024. In April 2024, the company launched the ZEEKR 009 Grand, a luxury version of the ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released the ZEEKR MIX, the company's MPV model, in the same month. Going forward, the company targets to roll out an expanded product portfolio, including but not limited to robotaxis, to meet various customer demands and preferences. The company is working with Waymo, a leader in Level 4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The development and sales of battery electric vehicles (BEVs) is the company's business focus and contribute to an increasing portion of the company's revenue since the launch of the ZEEKR 001, the company's first mass-produced BEV model. The company released the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched the second vehicle model, ZEEKR 009, and started to deliver the ZEEKR 009 to customers in January 2023. In April 2023, the company released the ZEEKR X, the company's compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023 and began to deliver the company's first upscale sedan model in January 2024. In April 2024, the company launched the ZEEKR 009 Grand, a luxury version of the ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released the ZEEKR MIX, the company's MPV model, in the same month. Going forward, the company targets to roll out an expanded product portfolio, including but not limited to robotaxis, to meet various customer demands and preferences. The company is working with Waymo, a leader in Level 4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. 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 in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, 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. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR X, and an upscale sedan model. • 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, or ZEEKR 001 (2024 model). [Table Level]
- Table Title: Consolidated Balance Sheets as of December 31, 2023 and 2024
- Table Summary: This table presents the consolidated balance sheets for company Intelligent Technology Holding Limited, detailing the accounting figures as of December 31, 2023, and 2024 in RMB, with an additional column converting 2024 figures into USD. It reflects current liabilities and shareholder's deficit with various financial data points compared across the two years.
- Context: The data comes from company's combined and consolidated financial statements, with amounts given in thousands, except for share and per share data. This table is part of a broader financial summary covering multiple years of operation.
- Special Notes: The currency in the table switches from RMB for 2023 and 2024 to USD for 2024, with a note (Note 2(d)) for further clarification.

[Row Level]
Row 1: As of December 31, 2024, company Intelligent Technology Holding Limited had RMB 30,300 and the equivalent of USD 4,151 in this specific financial line item. There is no corresponding figure for December 31, 2023.
Row 2: The line item recorded RMB 4,104,717 for 2023 and slightly decreased to RMB 4,072,312 in 2024. In USD, this amount was 557,904 for 2024.
Row 3: In 2023, company Intelligent Technology Holding Limited reported RMB 5,504,945, which significantly increased to RMB 12,990,599 in 2024. The corresponding amount in USD for 2024 was 1,779,705.
Row 4: For 2023, the account held RMB 16,355,902, whereas in 2024, it reported a decrease to RMB 14,509,628. The USD equivalent for 2024 was 1,987,811.
Row 5: RMB 108,083 was noted in 2023, and this amount reduced to RMB 60,856 in 2024. The equivalent in USD for 2024 was 8,337.
Row 6: As of December 31, 2023, an amount of RMB 6,243,956 was recorded, increasing to RMB 8,478,772 in 2024, with the USD equivalent being 1,161,587.
Row 7: The total for these line items for 2023 was RMB 32,317,603, rising to RMB 40,142,467 in 2024, with the USD figure for 2024 being 5,499,495.
Row 8: There was no figure for 2023, but 2024 recorded RMB 414,180 and USD 56,742 in this line item.
Row 9: The 2023 value was RMB 1,807,159, reduced to RMB 1,491,486 in 2024. This amount in USD for 2024 was 204,333.
Row 10: An amount of RMB 1,100,000 was listed for 2023, with no corresponding 2024 or USD equivalent.
Row 11: The line item read RMB 563,001 in 2023, increasing to RMB 718,164 in 2024, with the USD equivalent being 98,388.
Row 12: In 2023, the figure was RMB 8,337, and it rose to RMB 57,252 in 2024. The USD equivalent was 7,843 for 2024.
Row 13: The total for these line items was RMB 3,478,497 for 2023, decreasing to RMB 2,681,082 in 2024, with the USD for 2024 equating to 367,306.
Row 14: The grand total for all items was RMB 35,796,100 in 2023, increasing to RMB 42,823,549 in 2024, with the USD equivalent for 2024 being 5,866,801. ```
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``` Balance as of January 1, 2023  
Issuance of preferred shares  
Net loss  
Share-based compensation  
Foreign currency translation adjustment  
Balance as of December 31, 2023 [Table Level]
- Table Title: company Intelligent Technology Holding Limited - Statement of Changes in Shareholders' Deficit for the Year Ended December 31, 2023
- Table Summary: This table outlines the changes in shareholders' deficit for company Intelligent Technology Holding Limited for the year ending December 31, 2023. Key elements include share counts, amounts in RMB for ordinary and preferred shares, additional paid-in capital, accumulated deficit, other comprehensive income, and portions attributed to non-controlling interest.
- Context: The statements presented are integral parts of combined and consolidated financial information, focusing on changes in shareholders’ deficit. Yearly adjustments are captured in this table, contributing to a comprehensive financial overview.
- Special Notes: All financial data is presented in RMB and amounts are stated in thousands. Footnotes specify that details such as share counts and per share data are exceptions to this notation.

[Row Level]
Row 1: As of January 1, 2023, company Intelligent Technology Holding Limited started with 2,000,000,000 ordinary shares valued at 2,584 RMB, and 126,470,585 preferred shares valued at 162 RMB. The additional paid-in capital recorded was 5,705,305 RMB, and the accumulated deficit stood at 12,518,706 RMB. Accumulated other comprehensive loss was 32,210 RMB. company Intelligent Technology Holding Limited's overall deficit was reported as 6,842,865 RMB, while non-controlling interest amounted to 869,998 RMB, culminating in a total shareholders' deficit of 5,972,867 RMB.

Row 2: During the year, preferred shares were further issued, increasing count by 139,375,669 shares leading to an RMB increase of 200, while additional paid-in capital was adjusted to reflect a deduction of 5,372,844 RMB. Accumulated deficit was further adjusted, decreasing by 8,346,980 RMB. Total company Intelligent Technology Holding Limited's deficit was adjusted to show a decrease of 8,346,980 RMB and non-controlling interest increased by 82,789 RMB, affecting total shareholders’ deficit to a decrease of 8,264,191 RMB.

Row 3: Adjustments included an additional increase in paid-in capital by 135,649 RMB, with corresponding improvements to the overall deficit by the same amount. Accumulated comprehensive income increased by 49,765 RMB, improving the overall total company Intelligent Technology Holding Limited's deficit by this amount. Non-controlling interest did not change during this adjustment period. Total shareholders’ deficit was improved further by 135,649 RMB.

Row 4: At table's end on December 31, 2023, the ordinary share count remained at 2,000,000,000 continuing with an evaluation of 2,584 RMB. Preferred share count ended at 265,846,254 with a final valuation of 362 RMB. The total additional paid-in capital finalized at 11,213,798 RMB, while accumulated deficit reached 20,865,686 RMB. Accumulated other comprehensive income settled at 17,555 RMB. company Intelligent Technology Holding Limited's company deficit totaled 9,631,387 RMB, with non-controlling interest at 952,787 RMB. The cumulative total shareholders' deficit ended at 8,678,600 RMB. [Table Level]
- Table Title: Loss per Share Analysis for the Years Ended December 31, 2022, 2023, and 2024
- Table Summary: This table presents the financial outcomes related to the company's net loss per share for the fiscal years 2022, 2023, and 2024. It details figures for net losses from consolidated entities, net income attributable to non-controlling interests, and the net losses attributable to ordinary shareholders. Additionally, it demonstrates the weighted average number of shares and calculates both basic and diluted net loss per share.
- Context: The context discusses significant financial activities of the Group, including related party transactions and loans, along with their completion and outstanding balances. It also explains the net loss from consolidated entities and provides background on excluded share units and preferred shares affecting net loss per share calculations.
- Special Notes: The amounts are presented in thousands; share data and per share data use specific formatting. The negative values indicate net losses.

[Row Level]
Row 1: In 2022, the net loss from consolidated entities amounted to RMB 7,651,854, which increased to RMB 8,264,191 in 2023, and then decreased to RMB 5,790,649 in 2024.
Row 2: Net income attributable to Ningbo Viridi as a non-controlling interest (NCI) was RMB 278,633 in 2022, then reduced to RMB 82,789 in 2023, and increased significantly to RMB 632,921 in 2024.
Row 3: The net loss attributable to ordinary shareholders of the company was recorded as RMB 7,930,487 in 2022, increased to RMB 8,346,980 in 2023, and reduced to RMB 6,423,570 in 2024.
Row 4: The weighted average number of ordinary shares outstanding, both basic and diluted, remained constant at 2,000,000,000 shares in 2022 and 2023, increasing to 2,353,015,830 shares by 2024.
Row 5: The basic net loss per share attributable to ordinary shareholders of the company was RMB (3.97) in 2022, increased to RMB (4.17) in 2023, and then improved to RMB (2.73) in 2024.
Row 6: Similarly, the diluted net loss per share for ordinary shareholders of the company mirrored the basic calculation: RMB (3.97) in 2022, rising to RMB (4.17) in 2023, and decreasing to RMB (2.73) in 2024. Net loss from consolidated entities represents the net loss generated by each entity acquired as part of the company's Reorganization since the dates of their respective acquisitions. The company is a market player with a China focus and global aspirations. Currently, the company mainly markets and sells its products in China, the largest BEV market globally in 2023, according to Frost & Sullivan. The company has started to deliver the ZEEKR 001 in Europe in December 2023. In the future, the company also plans to supply vehicles for the Waymo One Fleet in the United States. For details of the company's plan to increase its global footprint, see “— Our Growth Strategies.” As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium battery electric vehicle (BEV) market in China, according to Frost & Sullivan. [Table Level]
- Table Title: Monthly BEV Delivery Volumes for company 001
- Table Summary: The table lists the monthly delivery volumes for the company 001 electric vehicle in units, covering the period from January 2023 to February 2024. It reflects the consistent delivery performance and increasing global aspirations for company's market expansion.
- Context: The surrounding context discusses company's focus on the Chinese market with plans for expansion in Europe and the United States, highlighting the company's growth strategy and premium branding of the company 001 model.
- Special Notes: Delivery volumes are presented in units without additional footnotes. The deliveries reflect a history of rapid growth in the BEV market.

[Row Level]
Row 1: In February 2024, company 001 reached a delivery volume of 7,510 units.
Row 2: January 2024 saw a delivery volume of 12,537 units for company 001.
Row 3: December 2023 experienced a delivery volume of 13,476 units, showcasing sustained growth.
Row 4: During November 2023, the delivery volume for company 001 was noted at 13,104 units.
Row 5: October 2023 marked a delivery volume of 13,077 units for company 001.
Row 6: In September 2023, company 001 recorded a delivery volume of 12,053 units.
Row 7: August 2023 had a delivery volume of 12,303 units for the company 001.
Row 8: July 2023's delivery volume for the company 001 stood at 12,039 units.
Row 9: June 2023 showed a delivery figure of 10,620 units for company 001.
Row 10: In May 2023, the delivery volume reached 8,678 units for company 001.
Row 11: April 2023 accounted for a delivery volume of 8,101 units of company 001.
Row 12: March 2023 registered a delivery volume of 6,663 units for company 001.
Row 13: February 2023 documented a delivery volume of 5,455 units for company 001.
Row 14: January 2023 started with a delivery volume of 3,116 units for company 001. In 2024, the company delivered 222,123 vehicles. As of December 31, 2024, the company cumulatively delivered a total of 418,756 vehicles. The following chart summarizes the monthly deliveries of the company's vehicles by the end of February 2025. [Table Level]
- Table Title: company Vehicle Delivery Volumes by Month
- Table Summary: This table presents the delivery volumes of company vehicles on a monthly basis from January 2024 to February 2025. It highlights the scaling production capability and growing market reach of the company brand during this time frame.
- Context: The context before the table emphasizes company's premium brand image, technological capabilities, and the strategic expansion into the international market, along with insights into the overall delivery achievements up to December 2024. After the table, specific vehicle brands contributing to delivery numbers, including the acquisition of Lynk & Co, are discussed.
- Special Notes: The delivery figure for February 2025 includes 14,039 company vehicles and 17,238 Lynk & Co vehicles following the acquisition of Lynk & Co.

[Row Level]
Row 1: In February 2025, the delivery volume was 31,277 units.
Row 2: In January 2025, the delivery volume was 11,942 units.
Row 3: In December 2024, the delivery volume was 27,190 units.
Row 4: In November 2024, the delivery volume was 27,011 units.
Row 5: In October 2024, the delivery volume was 25,049 units.
Row 6: In September 2024, the delivery volume was 21,333 units.
Row 7: In August 2024, the delivery volume was 18,015 units.
Row 8: In July 2024, the delivery volume was 15,655 units.
Row 9: In June 2024, the delivery volume was 20,106 units.
Row 10: In May 2024, the delivery volume was 18,616 units.
Row 11: In April 2024, the delivery volume was 16,089 units.
Row 12: In March 2024, the delivery volume was 13,012 units.
Row 13: In February 2024, the delivery volume was 7,510 units.
Row 14: In January 2024, the delivery volume was 12,537 units. Including 14,039 company brand vehicles and 17,238 Lynk & Co brand vehicles following the completion of the Lynk & Co acquisition in February 2025. *[I'm unable to process the image or extract the table information.]* *Table Level*  
- Table Title: company Intelligent Technology Holding Limited Shareholders' Equity Arrangement  
- Table Summary: This table represents the changes in shareholders' equity components for company Intelligent Technology from ordinary shares and preferred shares to various capital accounts, accumulated deficits, and total equity, recorded in RMB, as of certain key dates.  
- Context: The table is part of a financial disclosure detailing company's consolidated balance sheets and statements of operations. Other sections describe financial events such as share issuance, acquisitions, and net losses over the years ending on December 31st.  
- Special Notes: All amounts are in thousands of RMB; noteworthy formatting includes underlining to denote final totals in the table.  

[Row Level]  
Row 1: As of the beginning of the period, company reported 2,000,000,000 ordinary shares valued at 2,584 RMB and 75,882,351 preferred shares valued at 98 RMB. Additional paid-in capital was 4,269,555 RMB, and paid-in capital in combined companies was 697,517 RMB. The accumulated deficit stood at 4,584,927 RMB, while accumulated other comprehensive loss totaled 46,766 RMB. The Total Equity for company Intelligent Technology was 338,061 RMB, with non-controlling interest at 591,365 RMB, constituting a total shareholders' equity of 929,426 RMB.  

Row 2: During the period, there was no change in the number of ordinary shares, while the number of preferred shares increased by 50,588,234, bringing their total to 126,470,585 with a combined valuation added of 64 RMB in preferred shares. Additional paid-in capital increased by 1,268,296 RMB. The accumulated deficit increased by 7,933,779 RMB, and there was a small currency-related change leading to an accumulated other comprehensive income adjustment of 14,556 RMB. Total equity for company Intelligent Technology showed a deficit of 6,842,865 RMB after recognizing a non-controlling interest movement to 869,998 RMB, resulting in a total shareholders' deficit of 5,972,867 RMB by the period end. Balance as of January 1, 2022  
Issuance of preferred shares  
Acquisition of CEVT in connection with the Reorganization (Note 1)  
Net loss  
Share-based compensation  
Foreign currency translation adjustment  
Balance as of December 31, 2022 Accompanying notes are an integral part of these combined and consolidated financial statements for company Intelligent Technology. [Table Level]  
- Table Title: Combined and Consolidated Statement of Changes in Equity for company Intelligent Technology Holding Limited  
- Table Summary: This table outlines the changes in equity for company Intelligent Technology Holding Limited over the years, focusing on the beginning and ending balances and transactions affecting various components such as preferred shares, net loss, and share-based compensation. It includes details like the number and value of ordinary and preferred shares, capital amounts, and the total impact on shareholders' equity.  
- Context: The table is part of the financial statements for company Intelligent Technology, highlighting comprehensive loss and changes in financing and foreign currency translation from 2021 to 2023.  
- Special Notes: Amounts are presented in thousands of RMB. The financial impacts include share issuance, net income/loss, and currency adjustments.  

[Row Level]  
Row 1: As of January 1, 2023, company Intelligent Technology had 2,000,000,000 ordinary shares valued at RMB 2,584 and 126,470,585 preferred shares valued at RMB 162. The additional paid-in capital was RMB 5,705,305, and the accumulated deficit stood at RMB (12,518,706). The total shareholders' equity was reported as RMB (5,972,867).  

Row 2: The issuance of 139,375,669 preferred shares added RMB 200 in value, contributing RMB 5,372,844 to the additional paid-in capital, and increasing the total shareholders' equity by RMB 5,373,044.  

Row 3: The net loss for the period amounted to RMB (8,346,980), decreasing the total shareholders' equity by the same amount.  

Row 4: Share-based compensation contributed RMB 135,649 to the paid-in capital, impacting the total shareholders' equity by RMB 135,649.  

Row 5: A foreign currency translation adjustment resulted in an increase of RMB 49,765 to the accumulated other comprehensive income/loss, thereby increasing the total shareholders' equity by RMB 49,765.  

Row 6: By December 31, 2023, company Intelligent Technology maintained 2,000,000,000 ordinary shares and 265,846,254 preferred shares. The additional paid-in capital reached RMB 11,213,798, while the accumulated deficit widened to RMB (20,865,686). The accumulated other comprehensive income was RMB 17,555, and the total company Intelligent Technology equity showed a deficit of RMB (9,631,387) with a non-controlling interest of RMB 952,787, resulting in a total shareholders' equity of RMB (8,678,600). [Table Level]  
- Table Title: company Intelligent Technology Holding Limited Combined and Consolidated Statements of Comprehensive Loss  
- Table Summary: This table outlines the detailed cash flow statements from operating activities, investing activities, and associated adjustments for company Intelligent Technology Holding Limited over the financial years 2021, 2022, and 2023, with figures displayed in RMB and US dollars. It provides specifics on the reconciliation from net loss to net cash used in operating activities and other pertinent transactions impacted by investing activities.  
- Context: The table is derived from the consolidated financial statements of company Intelligent Technology for the fiscal years ending December 31, 2021, 2022, and 2023. It is part of a larger financial overview including balance sheets, comprehensive profit and loss, and cash flow statements, all accompanied by integral notes.  
- Special Notes: The amounts are recorded in thousands unless otherwise stated. Foreign currency values are converted to US dollars under Note 2(d).  

[Row Level]  
- Row 1: Net loss for the year 2021 was RMB (4,514,292), increasing to RMB (7,655,146) in 2022, and RMB (8,264,191) in 2023. In 2023, when converted to US dollars, the net loss amounted to (1,163,897) according to Note 2(d).  
- Row 2: Share-based compensation was RMB 150,573 in 2021, increased to RMB 211,208 in 2022, and then to RMB 135,649 in 2023, which equaled US$ 19,106.  
- Row 3: Depreciation and amortization rose from RMB 89,838 in 2021 to RMB 239,106 in 2022, further increasing to RMB 618,189 in 2023, or US$ 87,070.  
- Row 4: Deferred taxes for 2021 showed a negative change of RMB (64,424), a positive change of RMB 33,173 in 2022, and a negative change of RMB (39,226) in 2023, equivalent to (5,525) US dollars.  
- Row 5: Gain or loss from disposal of property and equipment altered from RMB (25) in 2021 to RMB 194 in 2022, and RMB 15,088 in 2023, equivalent to US$ 2,125.  
- Row 6: Loss from disposal of intangible assets was not applicable in 2021 and 2022 but was RMB 210 in 2023, or US$ 30.  
- Row 7: Share of loss (income) in equity method investments changed from RMB 16,871 in 2021 to RMB 172,787 in 2022 and negative RMB (86,842) in 2023, which equates to (12,231) US dollars.  
- Row 8: Change in fair value of derivative instruments was null for 2021, RMB 1,178 in 2022, and RMB 358 in 2023, equivalent to US$ 50.  
- Row 9: Foreign exchange loss, net stood at RMB 181,601 for 2021, shifting to RMB (91,222) in 2022, and RMB 9,468 in 2023, or US$ 1,334.  
- Row 10: Reversal provision of allowance for doubtful accounts was RMB (5,454) in 2021, RMB 7,190 in 2022, and RMB (5,814) in 2023, equal to US$ (819).  

Subsequent rows similarly describe the changes in operating assets and liabilities, including values for notes receivable, accounts receivable, inventories, and amounts due from related parties among others. The subsequent section details cash flows from investing activities such as purchases of property, plant, and equipment, investments in equity investees, and proceeds from various disposals. The final lines summarize net cash provided by/used in both operating and investing activities for the stated years and respective currencies. The company is strategically focused on the design, engineering, development, and sales of premium battery electric vehicles (BEVs) featuring cutting-edge technology, drivability, and user experience. The company leverages extensive research and development capabilities, deep industry know-how, and synergies with Geely Group to tap into China’s massive, fast-growing premium BEV segment with great market potential. According to Frost & Sullivan, the sales volume of premium BEVs in China is expected to increase from 666.4 thousand units in 2024 to 2,607.6 thousand units in 2028 at a compound annual growth rate (CAGR) of 40.6%. For details of the growth trend of premium BEV sales in China, see “Industry Overview — China NEV and BEV Market Overview.” In 2021, the company released and started to deliver the ZEEKR 001, its first mass-produced premium battery electric vehicle (BEV) model. The company released an upgraded version of the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched its second vehicle model, the ZEEKR 009, and started delivery in January 2023. In April 2023, the company released the ZEEKR X, its compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023. In January 2024, the company started to deliver its first upscale sedan model. Going forward, the company plans to offer an expanded product portfolio to meet varied customer demands and preferences. For instance, the company plans to launch vehicles for next generation mobility lifestyle. The company is a market player with a China focus and global aspirations. Currently, the company mainly markets and sells its products in China, the largest BEV market globally in 2023, according to Frost & Sullivan. The company has started to deliver the ZEEKR 001 in Europe in December 2023. In the future, the company also plans to supply vehicles for the Waymo One Fleet in the United States. For details of the company's plan to increase its global footprint, see “— Our Growth Strategies.” As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the company's first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. [Table Level]
- Table Title: Monthly Delivery Volumes of Company Vehicles
- Table Summary: This table presents the monthly delivery volumes of company vehicles from January 2023 to April 2024. It showcases the steady growth and fluctuations in the number of vehicles delivered each month, highlighting significant deliveries within the premium battery electric vehicle (BEV) market.
- Context: The table follows a description of the company's rapid growth in vehicle deliveries, particularly in China, where the company significantly impacts the premium BEV market. The context emphasizes the company's success and plans for future expansions in Europe and the United States.
- Special Notes: Delivery volumes are measured in units. The information reflects the company's position as a fast-growing company in the BEV sector.

[Row Level]
Row 1: In April 2024, the company delivered 16,089 vehicles, marking one of the highest monthly delivery volumes in the time period shown.
Row 2: March 2024 saw a delivery of 13,012 company vehicles.
Row 3: February 2024 had a delivery volume of 7,510 company vehicles.
Row 4: In January 2024, the company delivered 12,537 vehicles.
Row 5: December 2023 recorded a delivery of 13,476 company vehicles.
Row 6: During November 2023, the company delivered 13,104 vehicles.
Row 7: October 2023 deliveries totaled 13,077 company vehicles.
Row 8: The company delivered 12,053 vehicles in September 2023.
Row 9: August 2023 saw a delivery of 12,303 company vehicles.
Row 10: In July 2023, 12,039 company vehicles were delivered.
Row 11: The delivery volume in June 2023 was 10,620 company vehicles.
Row 12: May 2023 observed a delivery of 8,678 company vehicles.
Row 13: April 2023 had a delivery of 8,101 company vehicles.
Row 14: During March 2023, the company delivered 6,663 vehicles.
Row 15: February 2023 recorded a delivery of 5,455 company vehicles.
Row 16: In January 2023, the company delivered 3,116 vehicles. [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Operations and Comprehensive Loss
- Table Summary: The table provides a detailed breakdown of the financial performance of company Intelligent Technology Holding Limited for the years ending December 31, 2021, 2022, and 2023, including losses from operations, interest income, income before income tax, and comprehensive loss. Data is presented in thousands, excluding per share data unless noted otherwise.
- Context: Prior to this table, the document indicates there have been no subsequent events requiring changes to the financial statements as of March 20, 2024. Following the table, there are sections on cash flow statements and notes to financial statements which elucidate regulatory compliance and financial disclosure requirements.
- Special Notes: Amounts are in thousands and exclude share and per share data unless noted. Negative values indicate losses or expenses.

[Row Level]
Row 1: For 2021, the general and administrative expenses are not specified; for 2022, they were $1,800 thousand; in 2023 they reached $11,237 thousand, and for 2024 they decreased to $1,583 thousand.
Row 2: In 2021, the loss from operations is not given; estimated at $1,800 thousand in 2022, $11,237 thousand in 2023, and $1,583 thousand in 2024.
Row 3: In 2021, interest income was $2,240 thousand, rising to $6,268 thousand in 2022, $25,513 thousand in 2023, and declining to $3,593 thousand in 2024.
Row 4: Other (expenses) income, net was $(152) thousand in 2021 and changed to $1,826 thousand in 2022, $54,782 thousand in 2023, and $7,716 thousand in 2024.
Row 5: Income before income tax expense in 2021 was $2,088 thousand, increased to $6,294 thousand in 2022, $69,058 thousand in 2023, and further increased to $9,726 thousand in 2024.
Row 6: Equity in loss of subsidiaries was $(4,364,657) thousand for 2021, $(7,940,073) thousand in 2022, $(8,416,038) thousand in 2023, and $(1,185,374) thousand in 2024.
Row 7: Net loss for 2021 was $(4,362,569) thousand, decreased to $(7,933,779) thousand by 2022, $(8,346,980) thousand in 2023, and $(1,175,648) thousand in 2024.
Row 8: Other comprehensive (loss) income, net of tax of nil was $(103,405) thousand in 2021; increased to $14,556 thousand in 2022, $49,765 thousand in 2023, before decreasing to $7,009 thousand in 2024.
Row 9: The foreign currency translation adjustment, net tax of nil in 2021 was $(103,405) thousand; changed to $14,556 thousand in 2022, $49,765 thousand in 2023, and was $7,009 thousand in 2024.
Row 10: Total other comprehensive (loss) income in 2021 was $(103,405) thousand, increasing to $14,556 thousand by 2022, $49,765 thousand in 2023, and down to $7,009 thousand in 2024.
Row 11: Total comprehensive loss in 2021 was $(4,465,974) thousand, changing to $(7,919,223) thousand in 2022, $(8,297,215) thousand in 2023, and reducing to $(1,168,639) thousand in 2024. The company is strategically focused on the design, engineering, development, and sales of premium battery electric vehicles (BEVs) featuring cutting-edge technology, drivability, and user experience. The company leverages extensive research and development (R&D) capabilities, deep industry know-how, and synergies with Geely Group to tap into China’s massive, fast-growing premium BEV segment with great market potential. According to Frost & Sullivan, the sales volume of premium BEVs in China is expected to increase from 666.4 thousand units in 2024 to 2,607.6 thousand units in 2028 at a compound annual growth rate (CAGR) of 40.6%. For details of the growth trend of premium BEV sales in China, see “Industry Overview — China NEV and BEV Market Overview.” In 2021, the company released and started to deliver ZEEKR 001, its first mass-produced premium battery electric vehicle (BEV) model. The company released an upgraded version of ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched its second vehicle model, ZEEKR 009, and started delivery in January 2023. In April 2023, the company released ZEEKR X, its compact SUV model, and began to deliver ZEEKR X in June 2023. The company also started to deliver ZEEKR 001 FR in November 2023. In January 2024, the company started to deliver its first upscale sedan model. Going forward, the company plans to offer an expanded product portfolio to meet varied customer demands and preferences. For instance, the company plans to launch vehicles for next generation mobility lifestyle. The company is a market player with a China focus and global aspirations. Currently, the company mainly markets and sells its products in China, the largest BEV market globally in 2023, according to Frost & Sullivan. The company has started to deliver ZEEKR 001 in Europe in December 2023. In the future, the company also plans to supply vehicles for the Waymo One Fleet in the United States. For details of the company's plan to increase its global footprint, see “— Our Growth Strategies.” As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. [Table Level]
- Table Title: Vehicle Delivery Volumes
- Table Summary: The table lists the monthly delivery volumes of vehicles over a span of two years—2023 and the beginning of 2024. It highlights the progression of delivery volumes, giving insights into the company's growth in vehicle distribution.
- Context: The company is focused on expanding its global footprint, with significant deliveries in China, the largest BEV market. The company has started delivering vehicles in Europe and plans further expansion in the United States.
- Special Notes: Delivery volumes are presented in units. 2024 figures show data only until March.

[Row Level]
Row 1: In March 2024, the company delivered 13,012 units of its vehicles.
Row 2: February 2024 saw a delivery volume of 7,510 units.
Row 3: January 2024 registered a delivery of 12,537 units.
Row 4: During December 2023, the company achieved its highest delivery volume for that year with 13,476 units.
Row 5: November 2023 experienced a delivery volume of 13,104 units.
Row 6: In October 2023, the company's delivery volume was 13,077 units, coinciding with a notable milestone of delivering over 10,000 units in a month.
Row 7: September 2023 had a delivery volume of 12,053 units.
Row 8: August 2023 deliveries amounted to 12,303 units.
Row 9: In July 2023, the company delivered 12,039 units.
Row 10: June 2023 recorded deliveries totaling 10,620 units.
Row 11: For May 2023, the company's delivery volume was 8,678 units.
Row 12: April 2023 saw deliveries of 8,101 units.
Row 13: March 2023 had a delivery volume of 6,663 units.
Row 14: February 2023 recorded deliveries of 5,455 units.
Row 15: The delivery volume in January 2023 was 3,116 units. The company's research and development expenses primarily comprise (i) outsourcing research and development expenses, primarily including consultation fees, SEA licensing fees, and validation and testing fees, (ii) employee compensation for employees engaged in research, design, and development activities, and (iii) other expenses. Costs associated with research and development are expensed as incurred in nature. The company dedicates significant resources towards research and development, and the company's research and development staff accounted for approximately 43.8%, 44.6%, and 43.0% of the company's total employees as of December 31, 2022, 2023, and 2024, respectively. The company's research and development expenses are mainly driven by the stage and scale of vehicle development and the development of key software and hardware technologies, as well as the number of research and development personnel. Research and development expenses increased by 16.1% from RMB 8,369.2 million in 2023 to RMB 9,720.2 million (US$ 1,331.7 million) in 2024. The year-over-year growth was primarily driven by non-cash share-based compensation expenses recognized for IPO-conditioned rewards that were cumulatively vested upon the company's successful IPO during 2024, and increased design and development costs for new vehicles and technologies. [Table Level]
- Table Title: Major Leased Facilities Overview
- Table Summary: This table presents information about the major leased facilities utilized by the company as of December 31, 2022. It includes details on location, size, primary use, and lease term, categorized by China and Sweden.
- Context: The company's headquarters is located in Ningbo, China, with ownership of land use rights. Additional facilities are leased for diverse operations, including vehicle sales and deliveries, ensuring adequate coverage and asset protection through insurance.
- Special Notes: All facility sizes are approximate and reported in square meters.

[Row Level]
Row 1: In Hangzhou, China, there is an office facility with a size of approximately 15,801.2 square meters. The lease term for this facility spans from October 15, 2021, to April 14, 2025.

Row 2: Ningbo, China hosts a facility primarily used as an R&D center and office, comprising approximately 52,730.0 square meters. The lease term for this facility runs from January 1, 2023, to December 31, 2023.

Row 3: In Shanghai, China, there is an office covering approximately 2,716.0 square meters. This facility's lease term extends from December 15, 2021, to December 14, 2024.

Row 4: Another facility in Shanghai, China, serving as an R&D center and office, is approximately 1,048.0 square meters in size, with a lease term from December 15, 2021, to December 14, 2024.

Row 5: Gothenburg, Sweden, features a storage and workshop facility about 800.0 square meters in size, with a lease term from March 1, 2018, to February 28, 2028.

Row 6: In Gothenburg, Sweden, there is an office facility approximately 503.0 square meters in size, and the lease term is from June 1, 2017, to December 31, 2023. In December 2021, the company acquired a 30% equity interest in Zhejiang Haohan, a company focused on charging pile sales, for a total consideration of RMB8,977 from companies under common control. In May 2022, the company injected RMB141,000 into Zhejiang Haohan. As some RSUs under the 2021 Incentive Plan granted to the employees of Zhejiang Haohan were exercised due to the consummation of the IPO in May 2024, the company regarded RMB1,712 as its capital contribution to Zhejiang Haohan. As of December 31, 2024, the company still held a 30% equity interest in Zhejiang Haohan. The company recorded RMB172,787 in shares of loss and RMB86,842 and RMB124,278 in shares of income in equity method investments during the years ended December 31, 2022, 2023, and 2024, respectively. The company did not record any impairment on its long-term investments during the years ended December 31, 2022, 2023, and 2024. [Table Level]  
- Table Title: Major Leased Facilities as of December 31, 2022  
- Table Summary: The table lists the major leased facilities of the company, detailing their location, size, primary use, and lease term. It covers properties in China and Sweden, indicating their function as offices, R&D centers, storage, or workshops.  
- Context: The company operates multiple facilities to support its business activities, with properties across China and Sweden leased primarily for office space, research and development, and storage purposes.  
- Special Notes: Sizes are provided in square meters, and lease terms specify exact dates ranging from 2017 to 2028.  

[Row Level]  
Row 1: Located in Hangzhou, China, is an office facility with an approximate size of 15,801.2 square meters, leased for the term October 15, 2021, to April 14, 2025.  

Row 2: In Ningbo, China, the space functions as an R&D center and office, covering approximately 52,730.0 square meters, with a lease term from January 1, 2023, to December 31, 2023.  

Row 3: Shanghai, China, houses an office facility measuring approximately 2,716.0 square meters, leased from December 15, 2021, to December 14, 2024.  

Row 4: Another location in Shanghai, China, serves as an R&D center and office, occupying 1,048.0 square meters, leased from December 15, 2021, to December 14, 2024.  

Row 5: In Gothenburg, Sweden, a facility is designated for storage and workshop purposes, with an approximate size of 800.0 square meters, leased from March 1, 2018, to February 28, 2028.  

Row 6: Also in Gothenburg, Sweden, is an office space spanning 503.0 square meters, with the lease running from June 1, 2017, to December 31, 2023. The company accounts for share options and restricted share units granted to employees, directors, and nonemployees under ASC 718, “Stock Compensation.” Share-based awards that are subject to both the service period and performance condition, including the company's company-level performance target and the Selected Participant’s performance, occurrence of a Qualified IPO, are measured at the grant date fair value. The company has made an estimate of expected forfeitures and recognizes share-based compensation expenses based on the target number of ordinary shares that may be earned pursuant to the award. A change in 5% in the estimated forfeiture rate while holding all other assumptions constant would not have a significant impact on the company's combined and consolidated results. Prior to the company's consummation of the IPO in May 2024, the fair value of the share options and restricted share units granted is determined with the assistance of an independent valuation specialist using widely accepted valuation techniques, including the use of the binomial option pricing model for the valuation of share options. Following the consummation of the IPO, the fair value for the company's restricted share units is based on the company's New York Stock Exchange closing stock price at the date of the grant. Certain of the company's employees also enjoyed the share options and restricted share units granted by Geely Auto. The company estimates the fair value of share options granted by Geely Auto using the binomial option pricing model. Subject to the review of the Staff, company Intelligent Technology Holding Limited currently plans to file another amendment to the Registration Statement containing the estimated offering size and price range on or around January 16, 2024, and commence its roadshow and related marketing activities shortly thereafter. company Intelligent Technology Holding Limited currently plans to request that the Staff declare the effectiveness of the Registration Statement on or about January 23, 2024. company Intelligent Technology Holding Limited would appreciate the Staff’s continued assistance to help company Intelligent Technology Holding Limited meet this timeline. [Table Level]  
- Table Title: Major Leased Facilities as of December 31, 2023  
- Table Summary: The table provides details about the company's major leased facilities, including their locations, sizes, primary uses, and lease terms. It covers facilities in both China and Sweden, specifying the square meter size and intended function of each property.  
- Context: The company owns land use rights in Ningbo, China, and has leased additional facilities for its operations. The information relates to a broad property insurance strategy aimed at protecting key assets and supports the company's operations.  
- Special Notes: The Ningbo facility includes a "Note" reference footnote that may require attention for further details.  

[Row Level]  
Row 1: The facility in Hangzhou, China, covers approximately 15,801.2 square meters and is primarily used as an office with a lease term from October 15, 2021, to April 14, 2025.  

Row 2: In Ningbo, China, the facility spans 52,730.0 square meters, serving as both an R&D center and office, with the lease term running from January 1, 2023, to December 31, 2023. Notably, this entry contains a superscript note indicating additional information.  

Row 3: The Shanghai, China office is approximately 2,716.0 square meters in size, with a lease period from December 15, 2021, to December 14, 2024.  

Row 4: Another location in Shanghai, China, utilized as an R&D center and office, measures 1,048.0 square meters, with the lease covering from December 15, 2021, to December 14, 2024.  

Row 5: The Gothenburg, Sweden facility functions as a storage and workshop space, occupying 800.0 square meters, with a lease term stretching from March 1, 2018, to February 28, 2028.  

Row 6: Another Gothenburg, Sweden facility measures 1,453.8 square meters and is used for laboratory and storage purposes, with its lease valid from June 1, 2021, to December 31, 2024. The Group accounts for share options and restricted share units granted to employees and non-employees under ASC 718, Stock Compensation, and equity award grants to the employees of the Group’s equity method investees under ASC 323, Stock-Based Compensation Granted to Employees and Nonemployees of an Equity Method Investee. Share-based awards that are subject to both service period conditions and performance conditions, including the Group-level performance target and the Selected Participant’s performance level, as well as the occurrence of a Qualified IPO, are measured at the grant date fair value. Share-based compensation expenses are recognized for the cumulatively vested amount upon the completion of the Qualified IPO first and then over the remaining requisite service period, net of estimated forfeitures, if any. Share-based compensation expenses are recognized using the graded vesting method, net of estimated forfeitures, over the requisite service period. The Group recognizes share-based compensation expenses based on the target number of ordinary shares that may be earned pursuant to the award. The share-based compensation expenses are categorized as either cost of revenues, selling, general and administrative expenses, or research and development expenses depending on the job functions of the grantees. Prior to the company's consummation of the IPO in May 2024, the fair value of the company's restricted share units granted to employees was determined with the assistance of an independent valuation specialist using widely accepted valuation techniques, back-solve method or discounted cash flow method.