What are the sales figures for the intelligent driving business (Company Robots)?
"Company continued to deliver strong operational growth, with total deliveries of 7,617 units in the first nine months of 2024, up by 136% year-on-year, driven by the European market," said Person A, Chief Executive Officer. "Company is excited to see significant progress in its intelligent driving business across the world, with revenue from customers other than Company surging to \$11 million, reflecting a year-on-year growth of 450%, contributing about 2% of total revenue. Company also launched Hyper Hybrid EV technology, in line with evolving market demands. The company remains committed to executing the ‘Win26’ Plan to drive efficiency and competitiveness, delivering sustainable value for its shareholders and investors." "Company has made continual improvements and streamlined its operations to drive efficiency, optimize resources, and achieve a reduction in operating expenses for four consecutive quarters," said Person B, Chief Financial Officer. Company achieved a 136% year-on-year increase in deliveries, maintaining its position as a top-performing luxury car brand among global competitors. The company delivered over 7,600 vehicles in the first nine months of 2024, making it the top seller among British luxury car brands. Four models were in delivery, each with an average Manufacturer’s Suggested Retail Price (MSRP) over $100,000. The current portfolio includes one SUV, one sedan, and two sportscars. Company maintained the MSRP above $100,000 throughout the first nine months of 2024, despite faster-than-sector growth and intensified competition. The intelligent driving business achieved a contract value of $130 million. Subsidiary A, the intelligent driving division, provided solutions to multiple global auto conglomerates, contributing significantly to this growth. Company's global expansion included entering over 10 new markets across the Gulf Cooperation Council (GCC) countries, Asia, and Oceania. The company introduced the Eletre Carbon, a high-performance variant tailored for the North American market, and also penetrated the fleet market for environmentally sustainable corporate clients in Europe.
Company Robotics, the company’s intelligent driving division, has recently entered into an agreement with a leading European automaker to deliver intelligent driving solutions for its multiple planned models. As a result, the total contract value for Company Robotics' intelligent driving solutions with customers other than Company reached approximately $130 million, following earlier agreements with multiple automotive conglomerates such as Counterparty A and a prominent Japanese tier-one supplier. "While the gross margin for the first nine months of 2024 was 9%, shrinking 2 percentage points compared to the same period of 2023 due to proactive management of inventory in response to trade protectionism, inflation impacts, and macroeconomic uncertainties, the high-margin intelligent driving business has secured \$130 million in total contract value to boost future growth. Company is committed to advancing the ‘Win26’ Plan target to continuously improve profitability and create long-term value." Company recently disclosed the output of its intelligent driving solutions to multiple automakers. As the intelligent driving business continues to develop, Company expects this business to contribute significantly to high profit revenue and drive rapid growth in its overall performance. [Table Level]
- Table Title: Breakdown of Revenues by Type
- Table Summary: The table provides a detailed breakdown of revenues by type for the years ended December 31, 2023, 2022, and 2021. It includes data on sales of goods and services revenues, expressed in thousands of US dollars and percentages of total revenues.
- Context: The table is part of a report discussing Company's diverse revenue streams, including sales of vehicles, parts, tools, and services such as automotive design and development.
- Special Notes: The numbers are presented in thousands, except for percentages.

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

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

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

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

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

Row 6: For the year ended December 31, 2021, services revenues reached US$3,318, comprising 90.0% of the total revenue. Company's total revenues increased by US$669.5 million from US$9.6 million for the year ended December 31, 2022, to US$679.0 million for the year ended December 31, 2023, primarily due to the ramp-up of sales volume of battery electric vehicle (BEV) lifestyle models and the increase in sales from the distribution of Company-brand sports cars, auto parts, and peripheral products, as well as automotive design and development services provided to original equipment manufacturer (OEM) customers. Sales of goods. Company's sales of goods revenue increased by US$659.0 million from US$1.2 million for the year ended December 31, 2022, to US$660.2 million for the year ended December 31, 2023, due to the increase in sales from battery electric vehicle (BEV) lifestyle models of US$465.3 million, sports cars of US$183.3 million, and auto parts and peripheral products of US$10.4 million. Service revenues. What is Company's future guidance? Company's annual delivery target is 12,000 units, with year-over-year growth exceeding 70%. Through the Win26 program, Company aims to achieve positive cash flow and profitability by 2026. Company's total revenues increased by US$268.1 million from US$130.0 million for the six months ended June 30, 2023, to US$398.1 million for the six months ended June 30, 2024, primarily due to the increase in sales volume of battery electric vehicle (BEV) lifestyle models and the increase in sales from the distribution of Company-brand sports cars, auto parts, and peripheral products, as well as intelligent driving solutions and other automotive design and development services provided to original equipment manufacturer (OEM) customers. Sales of goods. Company's sales of goods revenue increased by US$258.0 million from US$124.9 million for the six months ended June 30, 2023, to US$382.9 million for the six months ended June 30, 2024, due to the increase in sales of battery electric vehicle (BEV) lifestyle models by US$190.2 million, sports cars by US$53.6 million, and auto parts and peripheral products by US$14.3 million. Service revenues. In the first nine months of 2024, Company Robotics reported a revenue of $19 million, which represents a year-over-year growth of 217%. The revenue from other customers soared to $11 million, marking a 450% increase as the external customer base expanded. Additionally, the revenue from Company itself grew to $8 million, reflecting a 100% year-over-year growth. The recognized revenue mix for the first nine months of 2024 comprised 58% from other customers and 42% from Company. The contract value distribution by region for the same period revealed that 70% originated from China, while Europe and the rest of the world (ROW) accounted for the remaining 30%. [Table Level]
- Table Title: Revenue Breakdown for the Years Ended December 31, 2022 and 2021
- Table Summary: The table provides a detailed breakdown of revenues for the years ended December 31, 2022 and 2021. The table includes sales of goods and service revenues, along with the changes in revenue amounts and percentages between the two years.
- Context: Company experienced an increase in total revenues due to sales from the distribution of Company-brand sports cars, auto parts, and automotive services.
- Special Notes: All financial figures are presented in thousands of US dollars, except for percentages.

[Row Level]
Row 1: Sales of goods in 2022 amounted to US$1,186 thousand, a significant increase of US$817 thousand or 221.4% from US$369 thousand in 2021.

Row 2: Revenues from vehicles in 2022 were US$828 thousand, which rose by US$459 thousand or 124.4% compared to US$369 thousand in 2021.

Row 3: Other sales revenues recorded in 2022 were US$358 thousand, a new entry compared to no revenue in this category in 2021.

Row 4: Service revenues grew to US$8,371 thousand in 2022, up by US$5,053 thousand or 152.3% from US$3,318 thousand in 2021.

Row 5: Total revenues for 2022 reached US$9,557 thousand, an increase of US$5,870 thousand or 159.2% from the previous year’s total of US$3,687 thousand. To support thematic growth, approximately 10 different models, encompassing passenger and commercial vehicles from various original equipment manufacturers (OEMs), are slated to integrate Company Robotics driving solutions within the next 2-3 years, signaling substantial captive volume growth. [Table Level]
- Table Title: Sales Figures by Vehicle Type
- Table Summary: The table provides sales figures for different vehicle types from January to September for the years 2024 and 2023, along with the year-over-year percentage change. It categorizes the sales into "Lifestyle SUV and Sedan" and "Sportscars," then displays a total for both categories.
- Context: The table reflects the growth in vehicle sales for Company in the first nine months of 2024, highlighting a significant increase compared to the same period in 2023. This is part of Company's broader strategy to expand and innovate in the car market, including advancements in electric vehicle technology and strategic partnerships.
- Special Notes: The percentage change is labeled as the year-over-year change (YoY).

[Row Level]
- Row 1: Sales of "Lifestyle SUV and Sedan" for January to September 2024 were 3,983 units, compared to 1,762 units in the same period of 2023, reflecting a 126% increase year-over-year.
- Row 2: "Sportscars" sales for January to September 2024 amounted to 3,634 units, an increase from 1,459 units in 2023, showing a 149% year-over-year growth.
- Row 3: The total sales for both categories from January to September 2024 reached 7,617 units, up from 3,221 units in 2023, which is a 136% year-over-year increase. As a result of the foregoing, Company's gross profits increased from US$6.1 million for the six months ended June 30, 2023, to US$50.9 million for the six months ended June 30, 2024. Company's gross margin increased from 4.7% for the six months ended June 30, 2023, to 12.8% for the six months ended June 30, 2024, primarily due to (i) the cost reduction per vehicle and increased average selling price of vehicles sold; and (ii) the increase in income from intelligent driving solutions, commission service fees, and other automotive design and development services to OEM customers, which carry higher margins. [Table Level]
- Table Title: Revenues and Sales Breakdown
- Table Summary: The table presents a breakdown of total revenues for Company for the years ending December 31, 2023, and 2022, with a focus on "Sales of goods" and "Service revenues." It details revenue from various categories, highlighting significant year-over-year changes.
- Context: The financial overview indicates substantial revenue growth driven by increased sales volumes in battery electric vehicle (BEV) lifestyle models and Company-brand products. The context surrounding the table emphasizes examining these metrics alongside GAAP measures for a comprehensive understanding of performance.
- Special Notes: All monetary values are in thousands of US dollars, except for percentage changes.

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

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

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

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

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

Row 6: The Total Revenues for 2023 were $679,008,000, which is an increase of $669,451,000 or 7,004.8% from $9,557,000 in 2022. [Table Level]  
- Table Title: Revenue Breakdown for Different Periods  
- Table Summary: The table provides a detailed breakdown of revenue sources for Company across different financial periods, including both sales of goods and service revenues. It shows the amount in US dollars and the percentage contributions for both the six months ended June 30 and the years ended December 31 from 2021 to 2024.  
- Context: The context discusses Company's operations as a global distributor for Company Cars and their sources of revenue, which include sales of automotive products and services. Their cost structure and revenue generation strategies are further elaborated upon, highlighting the importance of product distribution and service delivery.  
- Special Notes: The financial figures represented in the table are in thousands, except for percentages.  

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

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

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

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

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

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

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

Row 8: Total revenues for 2021 stood at $3,687, making up 100% of the total revenues. [Table Level]
- Table Title: Regional Performance Overview for January to September 2024 and 2023
- Table Summary: This table provides a comparative analysis of performance across different regions for the periods of January to September in 2024 and 2023. It presents the number of units sold and revenue figures alongside the percentage contribution from each region for both years.
- Context: The table is part of a broader report detailing Company's market expansion and financial highlights for 2024, including new deliveries and technological advancements.
- Special Notes: The percentages indicate the share of each region in the total outcome for the respective years.

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

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

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

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

Row 5: Total figures for January to September 2024 equaled 7,617 units sold or revenue across all regions, with the entire distribution being 100%, compared to 3,221 units sold in the same timeframe for 2023, also reflecting 100% distribution. How was Company's performance in the first half of the year? Total revenue for the first half of 2024 was $398 million, representing a year-on-year increase of 206%. Company's Average Selling Price (ASP) remained above $100,000, achieving growth far exceeding the industry and luxury car segment. Company's gross margin for the first half of this year was 13%, compared to 5% in the same period of 2023.

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

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

Company launched the Person A Bespoke Service, offering personalized options, designer customization, limited editions, and exclusive customization to meet the growing demands of its customers. The delivery of customized models is expected to further enhance the brand's luxury positioning and benefit Company's long-term profit margins. As a result of the foregoing, Company's net loss increased by US\$25.7 million from US\$724.6 million for the year ended December 31, 2022, to US\$750.3 million for the year ended December 31, 2023. [Table Level]  
- Table Title: Revenue Analysis for Jan-Sep 2024 vs. Jan-Sep 2023  
- Table Summary: The table presents a comparative analysis of revenue generated from two customer segments, illustrating the change from January to September in 2024 compared to the same period in 2023. It highlights the year-on-year percentage change in revenue for each segment.  
- Context: The table is situated in a discussion about Company's technological advancements and strategic partnerships, emphasizing a rapid growth in revenue driven largely by innovative driving solutions and technologies.  
- Special Notes: The table includes a footnote marked "(A)" next to "from Company", but the details of the footnote are not provided in the image.  

[Row Level]  
- Row 1: Total revenue from January to September 2024 was 19 units, compared to 6 units in the same period of 2023, reflecting a 217% year-on-year increase.  
- Row 2: Revenue from Company in January to September 2024 was 8 units, up from 4 units in 2023, marking a 100% increase.  
- Row 3: Revenue from other customers in January to September 2024 reached 11 units, a significant rise from 2 units in the same months of 2023, resulting in a 450% increase. Company's service revenue increased by US$10.5 million from US$8.4 million for the year ended December 31, 2022, to US$18.9 million for the year ended December 31, 2023, primarily due to the increase in automotive design and development services provided to OEM customers of US$5.8 million and extended and aftersales services revenue for battery electric vehicle (BEV) lifestyle models and sports cars of US$4.7 million. [Table Level]
- Table Title: Key Preliminary Financial Results for the First Nine Months Ended September 30, 2024
- Table Summary: This table presents a comparison of financial results between the first nine months of 2024 and 2023, showcasing revenues, costs, and profit margins. It highlights significant year-over-year changes in financial metrics such as operating loss and net loss.
- Context: Company experienced substantial revenue growth due to increases in both goods and service sales, although operating and net losses also rose. Gross margins for sales of goods decreased due to destocking, while service revenue margins improved owing to high-margin technology-related income.
- Special Notes: All values are in millions of U.S. dollars, unaudited. Adjusted metrics are noted with (A).

[Row Level]
- Row 1: Revenues for Jan-Sep, 2024 were $653 million, compared to $318 million in 2023, showing a 105% year-over-year increase.
- Row 2: The cost of revenues for the first nine months of 2024 was $594 million, up from $284 million in 2023, marking a 109% increase.
- Row 3: Gross profit for 2024 was $59 million, compared to $34 million in 2023, which is a 75% increase.
- Row 4: The gross margin percentage for Jan-Sep, 2024 was 9%, which decreased from 11% in 2023.
- Row 5: Operating loss for the first nine months of 2024 amounted to $598 million, compared to $508 million in 2023, showing an 18% increase.
- Row 6: Net loss for 2024 was $667 million, a 27% increase from $527 million in 2023.
- Row 7: Adjusted net loss (A) for Jan-Sep, 2024 was $633 million, increasing by 20% from $527 million in 2023.
- Row 8: Adjusted EBITDA (A) for the first nine months of 2024 was a loss of $563 million, compared to a $486 million loss in 2023, reflecting a 16% year-over-year increase. Company's general and administrative expenses increased by US$31.6 million from US$80.4 million for the six months ended June 30, 2023, to US$112.0 million for the six months ended June 30, 2024, primarily due to (i) the incurrence of share-based compensation of US$12.7 million for the six months ended June 30, 2024, (ii) the incurrence of professional services fees of US$4.6 million and other administrative expenses of US$9.2 million in conjunction with Company's business growth, and (iii) the increase in labor costs of US$5.0 million in association with Company's expanded business operation functionalities. Government grants. Company's government grants income increased by US$1.8 million from US$0.7 million for the six months ended June 30, 2023, to US$2.5 million for the six months ended June 30, 2024, primarily due to the increase in government subsidies received in 2024. Company Robotics, a wholly owned subsidiary of Company, provides intelligent driving solutions with a broad global reach, serving both Company-branded intelligent vehicles and other prominent auto industry partners. The company offers a comprehensive range of intelligent driving, research, and development solutions. These services include the procurement and innovation of intelligent driving software and hardware, spearheaded by leading algorithms like the One Model and L2&L2+ ADAS software upgrades. Their solutions have global cloud and data center coverage, ensuring seamless operation. The Advanced Driver Assistance Systems (ADAS) and PAS solutions have been successfully delivered across regions including Europe, Asia, the GCC, North America, and Oceania. Notably, the Highway Assistant functions have seen recent upgrades in Europe. Company Robotics has established a strong track record and customer relationships, collaborating with multiple brands within the Counterparty A ecosystem and other distinguished clients such as a leading European conglomerate and a top-tier Japanese supplier. title: 4. Can you introduce the situation of the company recently disclosing to multiple automakers the output of intelligent driving solutions?  
Subsidiary A, a subsidiary of Company's intelligent driving business, has partnered with several leading automotive manufacturers to provide industry partners with intelligent driving technology and software solutions. The company has officially announced the cooperation with Counterparty A and Counterparty B, including providing high-level intelligent driving solutions such as high-speed NOA and urban NOA for the first pure electric flagship sedan under the Counterparty A brand. It provides a comprehensive set of advanced intelligent driving solutions including ADAS, highway NOA, urban NOA, and intelligent driving tool chain for Counterparty B, which is expected to be applied to a number of its commercial vehicles (such as heavy trucks, light trucks, buses, etc.) in the future. These collaborations mark key milestones in Company's successful export and commercialization of its leading technology capabilities. All domestic vehicles under the Company brand (including SUVs and sedans) can be equipped with hardware supporting L4 level intelligent driving capability to carry Company's advanced end-to-end intelligent driving service solutions. As cumulative residential vehicle deliveries continue to climb, the potential for future paid software subscription revenue is increasing. Key Financial Results The table below summarizes key preliminary financial results for Company for the first nine months ended September 30, 2024. (in millions of U.S. dollars, unaudited) Company's intelligent driving research and development team has developed key intelligent driving algorithms, including cognition, decision-making, planning, and control. Intelligent driving-related testing and simulation tools are also being developed to test and train algorithms and build a foundation for cloud-based services. The advanced intelligent driving software and algorithms take into account various scenarios, including highway, urban, and parking. The Eletre and Emeya models come with L2 intelligent driving solutions such as driving assistance, parking assistance, and active safety systems upon delivery. On top of these functions, Company is developing end-to-end solutions for scenarios such as highway, urban, and parking, with some solutions integrated into its models as premium functions through over-the-air (OTA) updates. Furthermore, Company's intelligent driving arm, Company Robotics, has been designated to license several leading automakers to provide them with intelligent driving technology, software, and intelligent driving-related tools. ● Cloud services. Company constructed a powerful cloud infrastructure to support cloud-based services for customers. Company's cloud services fully empower intelligent driving in data compliance, model training, process optimization, and improve computing power and digital operation capabilities. On top of these functions, Company is developing end-to-end solutions for scenarios such as highway, urban, and parking, with some solutions integrated into its models as premium functions through over-the-air (OTA) updates. Furthermore, Company's intelligent driving arm, Company Robotics, has been designated to license several leading automakers to provide them with intelligent driving technology, software, and intelligent driving-related tools. ● Cloud services. Company constructed a powerful cloud infrastructure to support cloud-based services for customers. Company's cloud services fully empower intelligent driving in data compliance, model training, process optimization, and improve computing power and digital operation capabilities. Company has integrated these hardware, software, and cloud capabilities to develop a full stack of advanced intelligent driving technologies, which enable Company vehicles to perceive and intelligently react to their surroundings, thereby enhancing the driving experience. By combining powerful algorithms, HD cameras, radars, and high-precision mapping capabilities, Company vehicles are able to precisely perceive their surroundings in stereoscopic display. Company vehicles then dynamically react to their perceived surroundings by leveraging customized planning and control algorithms. Taken together, Company's intelligent driving solution offers a smooth and intelligent driving experience to drivers, even under extreme road conditions. In the first nine months of 2024, Company delivered 7,617 vehicles, which marks a 136% increase from the 3,221 units delivered during the same period in 2023. Revenue reached $653 million, representing a 105% year-on-year increase compared to $318 million in 2023. The cost of revenues also rose significantly by 109%, totaling $594 million compared to $284 million the previous year. As a result, gross profit was $59 million, up 75% from $34 million in 2023. However, the gross profit margin decreased to 9% from 11% in the previous year. For the third quarter of 2024, 2,744 vehicles were delivered, a 54% increase from 1,782 in the same quarter of 2023. Revenue in Q3 2024 was $255 million, a 36% increase over $188 million in Q3 2023. The cost of revenues for this quarter was $247 million, up 54% compared to $160 million in Q3 2023. Over 7,600 vehicles were delivered in the first nine months of 2024, a year-on-year increase of 136%. Total revenue reached $653 million, more than doubling year-on-year. Revenue from the intelligent driving business generated from customers other than Company surged to $11 million, with a year-on-year growth of 450%. Company launched Hyper Hybrid EV technology that provides high performance with a combined range of over 1,100 kilometers. New York – Nov 21, 2024 – Company. (“Company Tech” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its unaudited financial results for the third quarter and first nine months ended September 30, 2024. [Table Level]  
- Table Title: Revenue Breakdown by Service Line  
- Table Summary: The table presents revenue data for Company, disaggregated by service lines for the years ended December 31, 2023, 2022, and 2021. It categorizes revenue from sales of goods to third parties and related parties, as well as from services, providing subtotals and total revenue figures for each year.  
- Context: The table is part of the notes to the consolidated and combined financial statements for Company, detailing revenue sources and breakdowns of contract liabilities and customer payments.  
- Special Notes: All amounts are in thousands of US dollars. The data is categorized under service lines such as BEV lifestyle models, sports cars, and others.  

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

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

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

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

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

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

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

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

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

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

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

Row 12: Total revenues for the year 2023 were $679,008, while for 2022 it was $9,557, and for 2021 it was $3,687. In the first nine months of 2024, Company delivered over 7,600 vehicles, marking a 136% increase compared to the same period in 2023, when 3,221 vehicles were delivered. The third quarter alone saw 2,744 vehicles delivered, a 54% increase over the 1,782 vehicles delivered in Q3 2023. Total revenue for the first nine months of 2024 amounted to $653 million, representing an impressive 105% year-on-year growth from the $318 million reported in the same period of 2023. In the third quarter of 2024, revenue was $255 million, showing a 36% increase from the $188 million in Q3 2023. The intelligent driving business showed remarkable growth, with revenue from external customers reaching $11 million, reflecting a year-on-year growth of 450%. Despite this, the gross profit margins declined, with Q3 2024 margins at 3%, down from 15% in Q3 2023. For the first nine months of 2024, the gross profit margin was 9%, compared to 11% in the same period of 2023. Guided by Company's R&D leaders, the global research and development team has extensive experience in the automotive and technology industries. As of June 30, 2024, Company's R&D team consisted of 1,631 professionals with extensive knowledge in automotive engineering, software, and artificial intelligence, as well as diversified working experiences from leading vehicle manufacturers globally. Such composition ensures solid technology development capabilities, especially in intelligence and digitalization. The diversified cultural and professional background promotes the exchange of ideas from different perspectives and ensures the generation of innovations. Company established Subsidiary A in China, the arm of its in-house intelligent driving competence. Subsidiary A is committed to developing advanced intelligent driving technologies to foster global industry growth. Subsidiary A has established itself as a global premier provider of comprehensive intelligent driving solutions, including advanced intelligent driving platform software, cloud toolchains, integrated hardware and software development, and intelligent driving operation solutions. Starting from 2024, Subsidiary A has been providing end-to-end intelligent driving solutions to several leading automakers, including Counterparty A and Counterparty B. The vehicle delivery numbers presented above are derived from reports submitted by Company's business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems announced or to be announced by the company. [Table Level]
- Table Title: Financial Performance Summary
- Table Summary: This table presents the net loss, adjusted net loss, and adjusted EBITDA figures for the years ended December 31, 2021 to 2023. It includes detailed breakdowns of interest expenses, interest income, income tax expenses, share-based compensation expenses, and depreciation.
- Context: The table reflects financial performance measures that should be analyzed in conjunction with GAAP measures and other financial information to gain a full understanding of Company's fiscal health. It indicates a substantial year-over-year increase in total revenues due to various sales activities.
- Special Notes: Values are reported in US dollars and thousands (from 2022 onwards where specified).

[Row Level]
- Row 1: Net loss for the year 2023 was $(750,255), compared to $(724,563) for 2022, and $(110,531) for 2021.
- Row 2: Share-based compensation expenses were not applicable in 2023, amounted to $10,625 in 2022, and were not applicable in 2021.
- Row 3: Adjusted net loss for 2023 was $(750,255), while it was $(713,938) for 2022, and $(110,531) for 2021.
- Row 4: Restates net loss figures for 2023 as $(750,255), 2022 as $(724,563), and 2021 as $(110,531) for additional context.
- Row 5: Interest expenses were $10,200 in 2023, $8,542 in 2022, and $3,615 in 2021.
- Row 6: Interest income in 2023 was $(9,204), in 2022 was $(12,188), and in 2021 was $(6,219).
- Row 7: Income tax expense for 2023 was $1,113, compared to $292 for 2022, and $1,853 for 2021.
- Row 8: Share-based compensation expenses are reiterated as not applicable for 2023 and 2021, but were $10,625 in 2022.
- Row 9: Depreciation was $54,957 in 2023, $12,790 in 2022, and $2,056 in 2021.
- Row 10: Adjusted EBITDA was $(693,189) for 2023, $(704,502) for 2022, and $(109,226) for 2021. [Table Level]
- **Table Title**: Results of Operations for the Years Ended December 31
- **Table Summary**: The table presents a detailed breakdown of Company's financial performance for the years 2023, 2022, and 2021, including revenues, costs, operating expenses, and net income metrics. It highlights significant figures such as total revenues, cost of sales, operating expenses, and net loss across these years.
- **Context**: Company's subsidiaries in the U.K., Netherlands, and Germany are subject to varying maximum income tax rates. Non-GAAP measures like adjusted net loss and adjusted EBITDA provide insights into financial and operational performance.
- **Special Notes**: All figures are in thousands of US dollars (US$).

[Row Level]
- **Row 1**: "In 2023, sales of goods amounted to US$ 660,158, compared to US$ 1,186 in 2022 and US$ 369 in 2021."
- **Row 2**: "Service revenues in 2023 were US$ 18,850, growing from US$ 8,371 in 2022 and US$ 3,318 in 2021."
- **Row 3**: "Total revenues for 2023 reached US$ 679,008, significantly higher than US$ 9,557 in 2022 and US$ 3,687 in 2021."
- **Row 4**: "The cost of goods sold in 2023 amounted to US$ 564,741, with US$ 948 in 2022 and US$ 331 in 2021."
- **Row 5**: "Cost of services was US$ 12,086 in 2023, decreasing from US$ 6,302 in 2022 and US$ 2,799 in 2021."
- **Row 6**: "Total cost of revenues for 2023 was US$ 576,827, while it was US$ 7,250 in 2022 and US$ 3,130 in 2021."
- **Row 7**: "Gross profit in 2023 equaled US$ 102,181, contrasting with US$ 2,307 in 2022 and US$ 557 in 2021."
- **Row 8**: "Research and development expenses were US$ 368,729 in 2023, compared to US$ 445,844 in 2022 and US$ 511,364 in 2021."
- **Row 9**: "Selling and marketing expenses reached US$ 328,935 in 2023, increasing from US$ 151,331 in 2022 and US$ 38,066 in 2021."
- **Row 10**: "General and administrative expenses were US$ 144,533 in 2023, compared to US$ 148,369 in 2022 and US$ 54,763 in 2021."
- **Row 11**: "Government grants amounted to US$ 4,077 in 2023, down from US$ 55,824 in 2022 and US$ 490,694 in 2021."
- **Row 12**: "Total operating expenses for 2023 were US$ 838,120, compared to US$ 689,720 in 2022 and US$ 113,499 in 2021."
- **Row 13**: "Operating loss in 2023 was US$ 735,939, compared to US$ 687,413 in 2022 and US$ 112,942 in 2021."
- **Row 14**: "Interest expenses were US$ 10,200 in 2023, compared to US$ 8,542 in 2022 and US$ 3,615 in 2021."
- **Row 15**: "Interest income in 2023 was US$ 9,204, an increase from US$ 12,188 in 2022 and US$ 6,219 in 2021."
- **Row 16**: "Net investment loss was US$ 1,162 in 2023, with losses of US$ 3,246 in 2022 and gains of US$ 2,229 in 2021."
- **Row 17**: "Foreign currency exchange losses were US$ 1,048 in 2023, compared to US$ 2,762 in 2022 and gains of US$ 798 in 2021."
- **Row 18**: "The change in fair value of liabilities was US$ 42 in 2023, compared to a loss of US$ 11,505 in 2022."
- **Row 19**: "Loss before income taxes in 2023 was US$ 749,142, compared to US$ 724,271 in 2022 and US$ 108,678 in 2021."
- **Row 20**: "Income tax expense was US$ 1,113 in 2023, compared to US$ 292 in 2022 and US$ 1,853 in 2021."
- **Row 21**: "The net loss in 2023 was US$ 750,255, compared to US$ 724,563 in 2022 and US$ 110,531 in 2021." [Table Level]  
- Table Title: Operating Expenses for Six Months Ended June 30, 2024 and 2023  
- Table Summary: The table summarizes the operating expenses for Company, comparing figures for the six months ended June 30, 2024, to those for the same period in 2023. It highlights changes in research and development, selling and marketing, and general and administrative expenses, as well as the impact of government grants, showing both absolute changes and percentage change.  
- Context: Company experienced a significant increase in gross profits and margins between June 30, 2023, and June 30, 2024, due to cost reductions and increased income from various services. There are accompanying increases in research and marketing expenses driven by factors like share-based compensation and global sales expansion.  
- Special Notes: All monetary values are in thousands of US dollars, except for percentage changes indicated.  

[Row Level]  
Row 1: Research and development expenses increased from US$152,548 thousand in 2023 to US$174,854 thousand in 2024, a change of US$22,306 thousand, representing a 14.6% increase.  

Row 2: Selling and marketing expenses rose from US$118,236 thousand in 2023 to US$204,274 thousand in 2024, showing an increase of US$86,038 thousand, or 72.8%.  

Row 3: General and administrative expenses grew from US$80,417 thousand in 2023 to US$111,978 thousand in 2024, reflecting a change of US$31,561 thousand, which is 39.2%.  

Row 4: Government grants rose, with the amount increasing from US$662 thousand in 2023 to US$2,488 thousand in 2024, totaling a change of US$1,826 thousand, a substantial growth of 275.8%.  

Row 5: The total operating expenses increased from US$350,539 thousand in 2023 to US$488,618 thousand in 2024, a total change of US$138,079 thousand, equating to an overall increase of 39.4%. ● The innovation and new platform development team is responsible for creating new concepts and architectures for the company's future product pipeline. This team studies new technologies and pioneers advancements in digital vehicle dynamics. In addition, Company adopts an agile organizational structure, allowing engineers to work in different teams during various phases of the project. Subsidiary A's R&D teams in China are based in multiple locations. Company focuses its research and development efforts in China on core technology innovations related to the development of electric architecture, charging and power systems, cloud computing, online data processing, global system integration and network security, batteries and energy management, electric motors, electronic control systems, intelligent driving, intelligent manufacturing, and more. Company established Subsidiary B in China, the arm of its in-house intelligent driving competence. Subsidiary B has built up comprehensive and well-rounded technological capabilities. Its key capabilities include vehicle product development, functional software development, algorithm software development, sensor development, cloud and data management, testing and validation, computing platform development, project management, and marketing strategies. The Group’s revenues are disaggregated by service lines as follows: New York – November 12, 2024 – Company. (“Company” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its vehicle delivery results for the first ten months of 2024. Company. continues to achieve top-rate growth among traditional luxury car brands, delivering 8,631 vehicles in the first ten months of 2024. Europe and China continued to be the major markets for Company, with each region contributing about 35% and 25% of the total deliveries, respectively. In October, Company. started an open beta test for its urban NOA (Navigate on Autopilot) in key cities. Certain over-the-air updates of intelligent driving, including highway assistant driving functions, were launched in Europe. As previously announced, Subsidiary A, Company's intelligent driving arm, provides intelligent driving solutions with global coverage to both Company-brand intelligent vehicles and other global leading auto conglomerates such as Counterparty A, Counterparty B, and a top Japanese Tier-one supplier. In October, Company. was awarded the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category as the only awardee from the automotive industry. Note 1: Invoiced deliveries, including commissioned deliveries in the US market. Company recorded a loss in changes in fair values of put option liabilities of US$2.5 million for the year ended December 31, 2023. As a result of the foregoing, Company's loss before income taxes for the year ended December 31, 2023, was US$749.1 million, an increase of US$24.9 million from US$724.3 million for the year ended December 31, 2022. Some of Company's subsidiaries are subject to income tax for their taxable income in 2023. The effective income tax rate for the years ended December 31, 2023, and 2022 was negative 0.15% and negative 0.04%, respectively. The effective income tax rate for the years ended December 31, 2023, and 2022 differs from the applicable statutory income tax rate, primarily due to the recognition of a full valuation allowance for deferred income tax assets of loss-making entities. Company's total revenues increased by US$5.9 million from US$3.7 million for the year ended December 31, 2021, to US$9.6 million for the year ended December 31, 2022, primarily due to sales from the distribution of Company-brand sports cars, auto parts, and automotive design and development services provided to Counterparty A. Sales of goods. Company's sales of goods revenue increased by US$0.8 million from US$0.4 million for the year ended December 31, 2021, to US$1.2 million for the year ended December 31, 2022, primarily due to the increase in sales from the distribution of historical Company-brand sports cars by US$0.4 million, and auto parts and peripheral products by US$0.4 million. Service revenues. Company's service revenue increased by US$5.1 million from US$3.3 million for the year ended December 31, 2021, to US$8.4 million for the year ended December 31, 2022, primarily due to an increase in automotive design and development services provided to Counterparty A. Company's service revenue increased by US$10.0 million from US$5.2 million for the six months ended June 30, 2023, to US$15.2 million for the six months ended June 30, 2024, primarily due to the increase in commission service fees and other services of US$5.0 million, income from intelligent driving solutions and extended services of US$3.2 million, and income from automotive design and development services provided to OEM customers of US$1.8 million. Sales of goods. Company generates revenues by providing the following products:  
● Battery Electric Vehicle (BEV) lifestyle models developed by Company;  
● Company-brand sports cars developed by Subsidiary B;  
● auto parts; and  
● peripheral products.  

Services. Company generates revenues mainly by providing automotive design and development services to OEM customers and after-sales service. The following table sets forth a breakdown of revenues by type both in absolute amount and as a percentage of Company's revenues for the years indicated. Research and development expenses. Company's research and development expenses increased by US$22.3 million from US$152.5 million for the six months ended June 30, 2023, to US$174.9 million for the six months ended June 30, 2024, primarily due to the increase in share-based compensation expense of US$20.0 million. Selling and marketing expenses. Company's selling and marketing expenses increased by US$86.0 million from US$118.2 million for the six months ended June 30, 2023, to US$204.3 million for the six months ended June 30, 2024, primarily due to (i) the increase in marketing, promotion, and advertising-related expenses for the expansion of global sales of US$37.1 million, (ii) the increase in exhibition expenses, professional service fees, and other miscellaneous selling expenses of US$28.0 million; (iii) the increase in labor costs of US$12.1 million; (iv) the increase in depreciation of US$5.5 million; and (v) the increase in share-based compensation expense of US$3.3 million. General and administrative expenses.