Where is Zeekr based?
ZEEKR Intelligent Technology Holding Limited (the “Company” or “company”) was incorporated under the laws of the Cayman Islands on March 31, 2021. company, together with its subsidiaries (collectively, the “Group”), is principally engaged in the commercialization and sales of electric vehicles and batteries, as well as the provision of automotive-related research and development services. Prior to the establishment of company, the Group’s businesses were conducted through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd., previously known as Shanghai Maple Guorun Automobile Company Ltd. (“company Shanghai”); (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“company Hangzhou Bay”); (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”); (iv) ZEEKR Technology Europe AB (“ZTE”, previously known as China-Euro Vehicle Technology Aktiebolag or “CEVT”). In 2021, in an effort to establish an independent Battery Electric Vehicles (BEV) business to obtain investment from outside investors and in preparation for an overseas listing, Zhejiang Geely Holding Group Co., Ltd. (“Geely Holding”), the controlling shareholder of Geely Automobile Holdings Limited (“Geely Auto”), undertook a series of contemplated reorganizations (the “Reorganization”). The main purpose of the Reorganization was to establish company as the overseas holding company for the above BEV-related businesses that were originally operated within Geely Holding and Geely Auto. Subsequent to the establishment of company in March 2021, the above businesses were transferred to company by Geely Holding and Geely Auto as part of the Reorganization. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) China-Euro Vehicle Technology Aktiebolag (“CEVT”). Under the leadership of co-founders Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR Intelligent Technology was incorporated as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as the company's holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) Zeekr Technology Europe AB (“CEVT”). Under the leadership of our co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR Intelligent Technology was incorporated as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as the company's holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) Zeekr Technology Europe AB (“CEVT”). Under the leadership of our co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR incorporated ZEEKR Intelligent Technology as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as its holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) China-Euro Vehicle Technology Aktiebolag (“CEVT”). Under the leadership of the company's co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, the company Intelligent Technology was incorporated as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as the company's holding company. The company is seeking to list separately from Geely Auto because of the company's different brand positioning and the company's operational, management, and financial independence. The company has an equity story built around the company's premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow the company to establish its own profile and attract different investors. In April 2021, the company Innovation, currently a wholly-owned subsidiary of the company Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, the company Technology, currently a wholly-owned subsidiary of the company Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) Zeekr Technology Europe AB (“CEVT”). Under the leadership of our co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, the company incorporated ZEEKR Intelligent Technology as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as its holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of the model is expected to be the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the brand. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured in a factory owned and operated by Geely Holding, and Geely Holding was the company's largest supplier for 2022. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured at the ZEEKR Factory or the Chengdu Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and the nine months ended September 30, 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs.
company Company Company B Company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. 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, company is able to rapidly expand even with a limited operating history. 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. Company's current product portfolio primarily includes ZEEKR 001, ZEEKR 009, and ZEEKR X. The current and future BEV models will define company's success. • ZEEKR 001. With an unwavering commitment to its mission, 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 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. Company began the delivery of ZEEKR 001 in October 2021. • ZEEKR 009. Company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. 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, company is able to rapidly expand even with a limited operating history. 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. 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, 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 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. Company began the delivery of ZEEKR 001 in October 2021. In February 2024, company released an upgraded model of ZEEKR 001, or ZEEKR 001 (2024 model). 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, 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. 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 009, and ZEEKR X. The company's current and future BEV models will define the company's success. • 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. • ZEEKR 009. 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. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow the company to continue to utilize SEA, which is currently the most suitable platform for the company. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant advantages. competitive advantages in the market. The SEA platform also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip the ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of the SEA platform. 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 current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, and ZEEKR X. 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 October 2023, the company released ZEEKR 001 FR, its latest cross-over hatchback vehicle model based on ZEEKR 001. 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 MODEL 001, MODEL 001 FR, MODEL 009, MODEL X, and an upscale sedan model. MODEL 001. With an unwavering commitment to its mission, the company released MODEL 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, MODEL 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. MODEL 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 MODEL 001 in October 2021. In February 2024, the company released an upgraded model of MODEL 001, or MODEL 001 (2024 model). 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 current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, and ZEEKR X. 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 October 2023, the company released ZEEKR 001 FR, its latest cross-over hatchback vehicle model based on ZEEKR 001. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced its plan to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 18 Centers, 219 Spaces, 29 Delivery Centers, and 40 Houses as of June 30, 2023. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. As these entities being transferred are all under the common control of Geely Holding, these transfers were accounted for as a restructuring of entities under common control as follows: In July 2021, the company established Zhejiang ZEEKR Intelligent Technology Co., Ltd (“Zhejiang company”) in the People’s Republic of China (“PRC”), a wholly-owned subsidiary. In July 2021, the company Shanghai, a subsidiary of Geely Auto, acquired 100% equity interest in the company Hangzhou Bay from Geely Holding for a cash consideration of RMB485.3 million. The net book value of the company Hangzhou Bay at the time of acquisition was RMB500 million. The corresponding difference between acquisition consideration paid and the entity’s net book value of RMB14,671 was recognized in additional paid-in capital. In August 2021, the Group, through Zhejiang company, acquired 100% equity interest in the company Shanghai (99% from Geely Auto and 1% from Geely Holding) for a cash consideration of RMB980.4 million. The net book value of the company Shanghai was RMB970.4 million at the time of acquisition. The corresponding difference between acquisition consideration paid and the entity’s net book value of RMB10,032 loss was recognized in additional paid-in capital. In October 2021, the Group, through the company Shanghai, acquired 51% equity interest in Ningbo Viridi, a subsidiary of Geely Holding, by injecting capital contribution of RMB860.7 million in Ningbo Viridi. As a result of this transaction, Ningbo Viridi became a subsidiary of the Group with a 49% non-controlling interest in the amount of RMB743,088 recognized at the date of acquisition. In February 2022, the Group, through Zhejiang company, acquired 100% equity interest in ZTE from Geely Holding for a cash consideration of Swedish Krona (“SEK”) 1,057.8 million (RMB741.3 million). The net book value of ZTE was RMB728.1 million at the time of acquisition. The corresponding difference between acquisition consideration paid and the entity’s net book value of RMB13,130 loss was recognized in additional paid-in capital. Upon the completion of the above transactions, company Shanghai, company Hangzhou Bay, Ningbo Viridi, and company Technology Europe AB became operating subsidiaries of the Group. In May 2024, company successfully listed on the New York Stock Exchange (NYSE). Company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. Company's efforts are backed by strong in-house R&D capabilities, deep understanding of products, 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, company is able to rapidly expand even with a limited operating history. 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. Company's current product portfolio includes ZEEKR 001 and ZEEKR 009. Company's current and future BEV models will define the company's success. ZEEKR 001. With an unwavering commitment to its mission, company released ZEEKR 001 on April 15, 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. Company began the delivery of ZEEKR 001 on October 23, 2021. • ZEEKR 009. On November 1, 2022, company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. The company 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. The company 009 has enjoyed wide popularity since launch, and the company started to deliver the company 009 to its customers in January 2023. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch SUV and sedan models targeting tech-savvy adults and families in the future. The company and Waymo are collaborating on the development of a purpose-built TaaS vehicle built on SEA-M, which will be deployed in the United States over the coming years. SEA-M is an advanced version of SEA that is a high-tech mobility solution to support a range of future mobility products including robotaxis and logistics vehicles, laying a solid and flexible foundation for global autonomous driving technology or ride-sharing companies to develop. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of the company 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, sets a new record among the major mid- to high-end NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. The company has delivered a cumulative 86,519 units of ZEEKR vehicles as of February 28, 2023, and achieved among the fastest delivery in the premium BEV market in China from October 2021 to December 2022, according to Frost & Sullivan. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow it to continue to utilize SEA, which is currently the most suitable platform for the company. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of SEA. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from the sales of batteries and other components and research and development services to Geely Group. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's in-house design, engineering, and R&D enable it to achieve high product development efficiency and rapid product iteration, as well as to provide engineering services to external parties. In particular, the company's in-house capabilities are also supported by (i) the company's Sweden-based R&D center CEVT in the research and development of intelligent mobility solutions, and (ii) Ningbo Viridi, the company's PRC subsidiary focused on the products and systems relating to battery, motor and electric control, power solutions, and energy storage. Leveraging the company's in-house E/E Architecture design and operating system, ZEEKR OS, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs by world-leading players such as Mobileye and has also announced plans to integrate NVIDIA DRIVE Thor, the 2,000 TOPS AV superchip, into its centralized vehicle computer for the next generation of intelligent BEVs. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 15 Centers, 195 Spaces, 26 Delivery Centers, and 24 Houses as of December 31, 2022. In addition, the company closely interacts with customers through building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. Within the APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant user community. The company's customer engagement efforts enable the company to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of December 31, 2022, there were 607 charging stations with different charging capabilities, including 200 ultra charging stations, 292 super charging stations, and 115 light charging stations, covering 113 cities in China, further supported by third-party charging stations that cover 336 cities in China with approximately 380 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for the company's business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of the company's strategic investors, for consumer-ready autonomous driving solutions. The company and Waymo are collaborating on the development of a purpose-built TaaS vehicle built on the SEA-M platform which will be deployed in the United States over the coming years. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be more than quadrupled to 11.3 million units in 2026 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to five times the volume in 2021 by 2026, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 4.4 million units in sales volume in 2026, representing a CAGR of 29.4% from 2022 to 2026, according to Frost & Sullivan. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. The company started to deliver its first model in October 2021. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, 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. The company's total revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, respectively. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow the company to continue to utilize SEA, which is currently the most suitable platform for the company. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving the company's BEVs significant advantages. competitive advantages in the market. The SEA platform also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, the company was able to equip the ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of the SEA platform. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of the ZEEKR 009 is expected to be the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market, according to Frost & Sullivan. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented direct-to-consumer (DTC) sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 15 ZEEKR Centers, 195 ZEEKR Spaces, 26 ZEEKR Delivery Centers, and 24 ZEEKR Houses as of December 31, 2022. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent battery electric vehicles (BEVs). Within the company APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of company lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant company user community. The company's customer engagement efforts enable the company to better understand customer needs to be incorporated into future product design, and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, respectively. In July 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. from Geely Holding. In July 2021, company Automobile (Shanghai) Co., Ltd. was incorporated in the PRC, and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Automobile (Shanghai) Co., Ltd. acquired 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in CEVT from Geely Holding. company Automobile (Shanghai) Co., Ltd. currently holds 100% equity interest in CEVT through Zhejiang company. In November 2022, company Automobile (Shanghai) Co., Ltd. launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Automobile (Shanghai) Co., Ltd. released the company X, its compact SUV model, and began to deliver the company X in June 2023. As of June 30, 2023, cumulatively company Automobile (Shanghai) Co., Ltd. had delivered a total of 120,581 units of company vehicles, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to June 2023, according to Frost & Sullivan. In July 2021, company Shanghai was incorporated in the PRC, and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Shanghai acquired a 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Shanghai acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Shanghai acquired a 100% equity interest in CEVT from Geely Holding. company Shanghai currently holds a 100% equity interest in CEVT through Zhejiang company. In November 2022, company Shanghai launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Shanghai released the company X, its compact SUV model, and began to deliver the company X in June 2023. As of October 31, 2023, cumulatively company Shanghai had delivered a total of 170,053 units of company vehicles, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to October 2023, according to Frost & Sullivan. In October 2023, company Shanghai released the company 001 FR, and company Shanghai started to deliver the company 001 FR in November 2023. In November 2023, company Shanghai released its first upscale sedan model targeting tech-savvy adults and families. In July 2021, company Shanghai was incorporated in the People's Republic of China and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Innovation acquired a 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Innovation acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Innovation acquired a 100% equity interest in CEVT from Geely Holding. company Innovation currently holds a 100% equity interest in CEVT through Zhejiang company. In November 2022, company Innovation launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Innovation released the company X, its compact SUV model, and began to deliver the company X in June 2023. In October 2023, company Innovation released the company 001 FR, and company Innovation started to deliver the company 001 FR in November 2023. In January 2024, company Innovation started to deliver its first upscale sedan model targeting tech-savvy adults and families. In February 2024, company Innovation released an upgraded model of the company 001, or company 001 (2024 model), and started vehicle delivery in March 2024. In April 2024, company Innovation launched the company 009 Grand, a luxury version of the company 009 featuring enhanced safety, privacy, and intelligence. In April 2024, company Innovation released the company MIX, its MPV model. In July 2021, company Shanghai was incorporated in the People's Republic of China and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Innovation acquired a 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Shanghai acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Shanghai acquired a 100% equity interest in CEVT from Geely Holding. company Shanghai currently holds a 100% equity interest in CEVT through Zhejiang company. In November 2022, company Shanghai launched its second BEV model, company 009, and expects to start delivery in the first quarter of 2023. As of November 30, 2022, company Shanghai has delivered a cumulative 66,611 units of company 001, which is among the fastest deliveries in the premium BEV market in China from October 2021 to November 2022, according to Frost & Sullivan. In July 2021, the company was incorporated in the People's Republic of China, and is currently a wholly-owned subsidiary of the company Technology. In August 2021, the company Innovation acquired 100% equity interest in the company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, the company acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, the company acquired 100% equity interest in CEVT from Geely Holding. The company currently holds 100% equity interest in CEVT through Zhejiang the company. In November 2022, the company launched its second BEV model, the company 009, and started delivery in January 2023. In April 2023, the company released the company X, its compact SUV model, and began to deliver the company X in June 2023. In October 2023, the company released the company 001 FR, and the company started to deliver the company 001 FR in November 2023. In January 2024, the company started to deliver its first upscale sedan model targeting tech-savvy adults and families. In February 2024, the company released an upgraded model of the company 001, or the company 001 (2024 model), and started vehicle delivery in March 2024. In April 2024, the company launched the company 009 Grand, a luxury version of the company 009 featuring enhanced safety, privacy, and intelligence. In April 2024, the company released the company MIX, its MPV model. Featuring unique exterior and interior design and proprietary technologies, ZEEKR 001 FR is designed to offer outstanding vehicle performance with various driving modes. The company started to deliver ZEEKR 001 FR in November 2023. • ZEEKR 009. In November 2022, the company launched its second model, ZEEKR 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. ZEEKR 009 is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. ZEEKR 009 has enjoyed wide popularity since launch, and the company started to deliver ZEEKR 009 to its customers in January 2023. • ZEEKR X. In April 2023, the company released ZEEKR X, its compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver ZEEKR X in June 2023. In November 2023, the company also launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and a multi-link suspension structure, the company's upscale sedan model is expected to achieve a 2.84 seconds 0-100 km/h acceleration and an 870 km maximum CLTC range. The company expects to begin the delivery of its first upscale sedan model in early 2024. The company's current and future BEV models will define its success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for the next generation mobility lifestyle. The widely compatible SEA enables robust R&D capabilities, execution efficiency, cost efficiency, and control consistency in the vehicle development process, giving company's BEVs significant competitive advantages in the market. SEA also offers the flexibility to quickly adopt and accommodate the latest and most advanced technology improvements. For example, company was able to equip model 009 with CATL’s latest Qilin battery, making model 009 the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. Together with company's proprietary advanced battery solutions and highly efficient electric drive system, model 009’s extended range version is the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market by the end of October 2023, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the company brand. These competitive advantages enable company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. 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, and ZEEKR X. 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 October 2023, the company released ZEEKR 001 FR, its latest cross-over hatchback vehicle model based on ZEEKR 001. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of 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 NEV models and premium BEV models in China. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of October 31, 2023, cumulatively the company had delivered a total of 170,053 units of ZEEKR vehicles, which is among the fastest delivery in the premium BEV market in China from October 2021 to October 2023, according to Frost & Sullivan. The development of the company's BEV models is powered by SEA, a set of open-source, electric and modularized platforms owned by Geely Holding compatible with A segment to E segment, covering sedan, SUV, MPV, hatchback, roadster, pickup truck, and robotaxi, which have a wheelbase mainly between 1,800 mm to 3,300 mm. The company depends on Geely Holding to allow it to continue to utilize SEA, which is currently the most suitable platform for the company. The company also offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 18 company Centers, 219 company Spaces, 29 company Delivery Centers, and 40 company Houses as of June 30, 2023. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. Within the company APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of company lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant user community. The company's customer engagement efforts enable it to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, it is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and $2 4 / 7$ charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of June 30, 2023, there were 746 charging stations with different charging capabilities, including 321 ultra charging stations, 308 super charging stations, and 117 light charging stations, covering over 120 cities in China, further supported by third-party charging stations that cover over 340 cities in China with over 520 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for its business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of its strategic investors, for consumer-ready autonomous driving solutions. The company is working with Waymo, a leader in L4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The vehicles are purpose-built TaaS vehicles based on SEA-M, which is an advanced version of SEA and a high-tech mobility solution that supports a range of future mobility products including robotaxis and logistics vehicles. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. In addition, the company has a relationship with Onsemi, a leader in intelligent power and sensor technologies. The company will be provided with Onsemi’s EliteSiC, its silicon carbide power devices, to enhance the performance, charging efficiency, and driving range for the company's BEV products. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be more than five times to 14.0 million units in 2027 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to over six times the volume in 2021 by 2027, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 4.9 million units in sales volume in 2027, representing a CAGR of 23.8% from 2023 to 2027, according to Frost & Sullivan. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. In December 2023, the company started to deliver the ZEEKR 001 in Europe. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,696.2 million) in 2021 and 2022, and RMB10,820.2 million and RMB23,319.1 million (US$3,196.2 million) in the nine months ended September 30, 2022 and 2023, respectively, with a gross profit margin of $1.8\%$, $4.7\%$, $4.6\%$ and $14.8\%$, respectively. In addition to vehicle sales, the company generated revenues from research and development services, other services, and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,372.2 million) in 2021 and 2022, and RMB18,467.5 million and RMB35,314.7 million (US$4,840.3 million) in the nine months ended September 30, 2022 and 2023, respectively, with a gross profit margin of $15.9\%$, $7.7\%$, $8.4\%$ and $12.8\%$, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,049.2 million) in 2021 and 2022, and RMB5,317.2 million and RMB5,326.3 million (US$730.0 million) in the nine months ended September 30, 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. In November 2023, the company also launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800 V architecture and a multi-link suspension structure, the company's upscale sedan model is expected to achieve a 2.84 s 0 to 100 km/h acceleration and an 870 km maximum CLTC range. The company expects to begin the delivery of its first upscale sedan model in early 2024. The company's current and future BEV models will define its success. Going forward, the company plans to capture the extensive potential of the premium BEV market globally through an expanding portfolio of vehicles. For instance, the company plans to launch vehicles for next-generation mobility lifestyles. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. 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 NEV models and premium 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 10,000 units of single-month delivery volume, according to Frost & Sullivan. As of October 31, 2023, In July 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. from Geely Holding. In July 2021, company Automobile (Shanghai) Co., Ltd. was incorporated in the PRC, and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Automobile (Shanghai) Co., Ltd. acquired 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in CEVT from Geely Holding. company Automobile (Shanghai) Co., Ltd. currently holds 100% equity interest in CEVT through Zhejiang company. In November 2022, company Automobile (Shanghai) Co., Ltd. launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Automobile (Shanghai) Co., Ltd. released the company X, its compact SUV model, and began to deliver the company X in June 2023. As of October 31, 2023, cumulatively company Automobile (Shanghai) Co., Ltd. had delivered a total of 170,053 units of company vehicles, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to October 2023, according to Frost & Sullivan. In October 2023, company Automobile (Shanghai) Co., Ltd. released the company 001 FR, and company Automobile (Shanghai) Co., Ltd. started to deliver the company 001 FR in November 2023. In July 2021, company Shanghai was incorporated in the People's Republic of China and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Innovation acquired a 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Innovation acquired a 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Innovation acquired a 100% equity interest in CEVT from Geely Holding. company Innovation currently holds a 100% equity interest in CEVT through Zhejiang company. In November 2022, company Innovation launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Innovation released the company X, its compact SUV model, and began to deliver the company X in June 2023. In October 2023, company Innovation released the company 001 FR, and company Innovation started to deliver the company 001 FR in November 2023. In January 2024, company Innovation started to deliver its first upscale sedan model targeting tech-savvy adults and families. In February 2024, company Innovation released an upgraded model of the company 001, or company 001 (2024 model), and started vehicle delivery in March 2024. or  
• a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor, securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the American Depositary Shares (ADSs) pursuant to an offer made under Section 275 of the SFA except: (a) to an institutional investor or to a relevant person defined in Section 275(2) of the SFA, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(i)(B) of the SFA; (b) where no consideration is or will be given for the transfer; (c) where the transfer is by operation of law; (d) as specified in Section 276(7) of the SFA; or (e) as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) Regulations 2018. or   
• a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor, securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the American Depositary Shares (ADSs) pursuant to an offer made under Section 275 of the SFA except: (a) to an institutional investor or to a relevant person defined in Section 275(2) of the SFA, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(i)(B) of the SFA; (b) where no consideration is or will be given for the transfer; (c) where the transfer is by operation of law; (d) as specified in Section 276(7) of the SFA; or (e) as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) Regulations 2018. or  
• a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor, securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the American Depositary Shares (ADSs) pursuant to an offer made under Section 275 of the SFA except: (a) to an institutional investor or to a relevant person defined in Section 275(2) of the SFA, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(i)(B) of the SFA; (b) where no consideration is or will be given for the transfer; (c) where the transfer is by operation of law; (d) as specified in Section 276(7) of the Securities and Futures Act; or (e) as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) Regulations 2018. or • a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the trust is an individual who is an accredited investor, securities or securities-based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that corporation or the beneficiaries’ rights and interests (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the American Depositary Shares (ADSs) pursuant to an offer made under Section 275 of the SFA except: (a) to an institutional investor or to a relevant person defined in Section 275(2) of the Securities and Futures Act, or to any person arising from an offer referred to in Section 275(1A) or Section 276(4)(i)(B) of the Securities and Futures Act;  
(b) where no consideration is or will be given for the transfer;  
(c) where the transfer is by operation of law;  
(d) as specified in Section 276(7) of the Securities and Futures Act; or  
(e) as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) Regulations 2018. In August 2021, the company adopted an incentive plan (“2021 Plan”) which authorizes grants of equity-based awards up to 150,000,000 ordinary shares of the Company to the company's management, employees, and other eligible persons of the Group. In 2021 and 2022, the Group granted Restricted Share Units (“RSU”) subject to a 4-year service vesting condition and several vesting conditions related to the operational performance of the Group and the grantee’s individual performance. The operational performance of the Group is based on the Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company's ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In 2021, 2022, and 2023, the Group granted Restricted Share Units (“RSU”) that contain a service condition and several vesting conditions related to the operational performance of the Group and the grantee’s individual performance. The operational performance of the Group is based on the Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company's ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In August 2021, the company Group adopted an incentive plan (“2021 Plan”) which authorizes grants of equity-based awards up to 150,000,000 ordinary shares of the company to its management, employees, and other eligible persons of the company Group. In 2021 and 2022, the company Group granted Restricted Share Units (“RSU”) subject to a 4-year service vesting condition and several vesting conditions related to the operational performance of the company Group and the grantee’s individual performance. The operational performance of the company Group is based on the company Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company's ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In 2021, 2022, and 2023, the company Group granted Restricted Share Units (“RSU”) that contain a service condition and several vesting conditions related to the operational performance of the company Group and the grantee’s individual performance. The operational performance of the company Group is based on the company Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company's ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In August 2021, the company adopted an incentive plan (“2021 Plan”) which authorizes grants of equity-based awards up to 150,000,000 ordinary shares of the company to its management, employees, and other eligible persons of the company. In 2021 and 2022, the company granted Restricted Share Units (“RSU”) subject to a 4-year service vesting condition and several vesting conditions related to the operational performance of the company and the grantee’s individual performance. The operational performance of the company is based on the company’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company's ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In 2021, 2022, and 2023, the company granted Restricted Share Units (“RSU”) that contain a service condition and several vesting conditions related to the operational performance of the company and the grantee’s individual performance. The operational performance of the company is based on the company’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company’s ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In August 2021, the company Group adopted an incentive plan (“2021 Plan”) which authorizes grants of equity-based awards up to 150,000,000 ordinary shares of the company to its management, employees, and other eligible persons of the Group. In 2021 and 2022, the company Group granted Restricted Share Units (“RSU”) subject to a 4-year service vesting condition and several vesting conditions related to the operational performance of the company Group and the grantee’s individual performance. The operational performance of the company Group is based on the company Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company Group’s ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In 2021, 2022, and 2023, the company Group granted Restricted Share Units (“RSU”) that contain a service condition and several vesting conditions related to the operational performance of the company Group and the grantee’s individual performance. The operational performance of the company Group is based on the company Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company Group’s ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met. In addition, it may not be possible to bring original actions in the jurisdictions where the company operates based on U.S. or other foreign laws against the company, its directors, executive officers, or the expert named in this prospectus. As a result, shareholder claims that are common in the United States, including class actions based on securities law and fraud claims, are difficult to pursue as a matter of law and practicality in the jurisdictions where the company operates. Furthermore, although the local authorities in China may establish a regulatory cooperation mechanism with the securities regulatory authorities of another country or region to implement cross-border supervision and administration, such regulatory cooperation with the securities regulatory authorities in the United States has not been efficient in the absence of a mutual and practical cooperation mechanism. According to Article 177 of the PRC Securities Law which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigation or evidence collection activities within the territory of the PRC. Accordingly, without the consent of the competent PRC securities regulators and relevant authorities, no organization or individual may provide the documents and materials relating to securities business activities to overseas parties. While detailed interpretation of or implementation rules under Article 177 of the PRC Securities Law is not yet available, the inability for an overseas securities regulator to directly conduct investigation or evidence collection activities within the People's Republic of China may further increase difficulties faced by investors in protecting their interests. In August 2021, the company Group adopted an incentive plan (“2021 Plan”) which authorizes grants of equity-based awards up to 150,000,000 ordinary shares of the company to its management, employees, and other eligible persons of the Group. In 2021 and 2022, the company Group granted Restricted Share Units (“RSU”) subject to a 4-year service vesting condition and several vesting conditions related to the operational performance of the company Group and the grantee’s individual performance. The operational performance of the company Group is based on the company Group’s automobile sales volume, market share in the defined segment, and EBITDA as specified by the company Group. Additionally, the 2021 Plan also includes a condition where grantees can only vest upon the occurrence of the company's ordinary shares becoming listed securities, which substantially creates a performance condition (“IPO Condition”) that has not been met.