What is the overview of Zeekr?
The company is a world’s leading premium new energy vehicle group from Geely Holding Group. Through developing and offering next-generation premium battery electric vehicles (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 strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house research and development capabilities, stylish design, high-caliber performance, and premium user experience. 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. Powered by SEA, an open-source modular platform from Geely Holding, the company's new energy vehicles benefit from streamlined research and development, cost efficiency, and seamless technology integration. As a premium battery electric vehicle brand incubated by Geely Group, the company leverages Geely's engineering expertise, supply chain strength, and manufacturing capacity to scale production efficiently. The company's in-house technology hubs in Sweden and China drive innovation in intelligent mobility, battery, and energy solutions, enabling rapid product iteration and external engineering services. The company elevates the customer experience with a vast network of offline touchpoints, integrated online communities, and comprehensive charging solutions, while strategically expanding into international markets to foster growth and innovation. The company’s vehicle design is led by the pioneering design team in Gothenburg, Sweden. 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. 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 six months ended June 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 the company 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. 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 at the ZEEKR Factory, the Chengdu Factory, and the Meishan Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from 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 batteries, motors, 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. 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 at the ZEEKR Factory, the Chengdu Factory, and the Meishan Factory, which are owned and operated by Geely Group, and Geely Holding was the company's largest supplier for 2022 and 2023. Furthermore, before the launch of ZEEKR 001, a significant portion of the company's revenue has historically been derived from 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 the company 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 batteries, motors, 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. 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 the factory, which is owned and operated by Geely Holding, and Geely Holding was the company's largest supplier for 2022. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of the 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. 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 the nine months ended September 30, 2022. 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 009, and ZEEKR X. The 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 in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR X, and an upscale sedan model. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001, or ZEEKR 001 (2024 model). 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 Model A, Model B, Model C, and Model D. Model A. With an unwavering commitment to its mission, the company released Model A in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, Model A is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. Model A 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 A in October 2021. In October 2023, the company released Model B, its latest cross-over hatchback vehicle model based on Model A. 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, 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 includes Model A and Model B. The company's current and future BEV models will define the company's success. Model A. With an unwavering commitment to its mission, the company released Model A on April 15, 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, Model A is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. The company began the delivery of Model A on October 23, 2021. • Model B. On November 1, 2022, the company launched its second model, Model B, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. 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 is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR X, and an upscale sedan model. ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001, or ZEEKR 001 (2024 model). Company is a fast-growing BEV technology company developing and offering next generation premium BEVs and technology-driven solutions to lead the electrification, intelligentization, and innovation of the automobile industry. Company is an independently-run startup-style company relying on its in-house R&D capabilities and self-owned sales and marketing network, among others. Company adopts a flat and efficient organizational structure led by key management with diversified backgrounds. Since inception, Company has been managed and directed by its executive officers, and save for Conghui An, who is currently an executive director of Geely Auto, none of Company's executive officers are members of management of Geely Auto. Additionally, Mr. An is expected to not hold any positions in Geely Auto prior to or upon the completion of the offering. While Company's chairman, Shufu Li, is also the chairman of Geely Auto, upon the completion of the offering, the directors that Company shares in common with Geely Auto will not have executive roles at Company. Company has been dedicated to serving its customers leveraging top-notch technology, advanced product concepts, and an enriched entrepreneurial spirit that embraces creativity and innovation. Company is strategically positioned as a premium BEV brand that delivers an ultimate experience covering driving, charging, after-sale service, and customer community engagement. Company’s product family meets a wide spectrum of customer needs in different mobility and travel scenarios and is highly customized with a wide selection of vehicle configurations. 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 includes Model 001 and Model 009. The company's current and future BEV models will define the company's success. Model 001. With an unwavering commitment to its mission, the company released Model 001 on April 15, 2021, a five-seater, crossover 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. The company began the delivery of Model 001 on October 23, 2021. • Model 009. On November 1, 2022, the company launched its second model, Model 009, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. 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.
company 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, and ZEEKR X. 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 October 2023, 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, 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 battery electric vehicle (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 the application of new technologies. The company's efforts are backed by strong in-house research and development (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 battery electric vehicle (BEV) market with unique positioning, featuring a strong sense of technology, in-house research and development (R&D) capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes Model A, Model B, Model C, Model D, and an upscale sedan model. Model A. With an unwavering commitment to its mission, the company released Model A in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, Model A is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. Model A 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 A in October 2021. The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • ZEEKR 001. With an unwavering commitment to the company's mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company 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 company's 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 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 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 its latest model 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 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. 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 centers, 195 spaces, 26 delivery centers, and 24 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 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'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. “Waymo” refers to an American autonomous driving technology company; “ZEEKR Intelligent Technology Holding Limited,” “ZEEKR,” and “our company” refer to ZEEKR Intelligent Technology Holding Limited, the holding company, and its subsidiaries, as a group; “ZEEKR Intelligent Technology” refers to ZEEKR Intelligent Technology Holding Limited, the Cayman holding company; ● “Zeekr Power” refers to Zhejiang Haohan Energy Technology Co., Ltd., in which ZEEKR Intelligent Technology Holding Limited owns 30% equity interest; “Zeekr Innovation” refers to Zeekr Technology Innovation Limited; ● “Zhejiang Geely” refers to Zhejiang Geely Automobile Co., Ltd; and ● “Zhejiang ZEEKR” refers to Zhejiang ZEEKR Intelligent Technology Co., Ltd. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi in this annual report are made at RMB7.2993 to US1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2024. ZEEKR Intelligent Technology Holding Limited makes no representation that any Renminbi or U.S. dollar amounts could have been, or could be, converted into U.S. dollars or Renminbi, as the case may be, at any particular rate, the rates stated below, or at all. A severe or prolonged downturn in the PRC or global economy could materially and adversely affect ZEEKR Intelligent Technology Holding Limited's business, results of operations, and financial condition. The company's business and prospects depend significantly on its ability to build the company brand. The company may not succeed in continuing to maintain and strengthen the company brand, and its brand and reputation could be harmed by negative publicity and customer complaints regarding the company, its products, or its services. Any dysfunction or outdated developments in Southeast Asia may negatively affect the production of the company's battery electric vehicles (BEVs). Any problems or delays in ramping up and maintaining operations of the Vehicle Manufacturing Factories could negatively affect the production of the company's BEVs. failure to develop appropriate risk management and internal control structures tailored to overseas operations; difficulty and cost relating to compliance with different commercial and legal requirements of the overseas markets in which the company Intelligent Technology Holding Limited offers or plans to offer its products and services including charging and other electric infrastructures; failure to obtain or maintain permits for the company's products or services in these markets; different safety concerns and measures needed to address accident-related risks in different countries and regions; inability to obtain, maintain or enforce intellectual property rights; unanticipated changes in prevailing economic conditions and regulatory requirements; ineligibility for tax credits or other incentives offered by governments in these markets; and   
adverse impact from economic sanctions and trade barriers such as export, import and international trade controls, tariffs, taxes and other restrictions and expenses. On October 4, 2023, the European Commission published a notice of initiation of EU anti-subsidy investigations into EU imports of battery electric vehicles (BEVs) from China (the “EU Subsidy Probe”). Using the sampling method, the European Commission selected Zhejiang Geely Automobile Co., Ltd. as one of the investigation targets of the EU Subsidy Probe, and Zhejiang Geely Automobile Co., Ltd. is actively cooperating with the investigation. However, anti-subsidy investigations, such as the EU Subsidy Probe, or other similar investigations in overseas markets may adversely affect the imports of BEVs from China, such as the company's, into overseas markets, and the company's strategy of expanding into overseas markets may be negatively impacted. The company's potential expansion into international markets will require the company to respond timely and effectively to rapid changes in market conditions in the relevant countries. The company's success in international expansion depends, in part, on the company's ability to succeed in different legal, regulatory, economic, environmental, social, and political conditions over which the company has little control. The company may not be able to develop and implement policies and strategies that will be effective in each location where the company does business. In addition, the company may not be able to monitor the sales of its battery electric vehicles (BEVs) operated by local dealers in overseas markets as directly and effectively as its self-owned stores. There can also be no assurance that the local dealers will always comply with their obligations under the applicable agreements and report the sales-related information in a timely and accurate manner, which may result in high dealer inventory, high retail price discounts, and unsatisfactory customer experiences. A change in one or more of the factors described above may have a material adverse effect on the company's business, financial condition, and results of operations. the availability of after-sales service for new energy vehicles (NEVs); the environmental consciousness of consumers; access to charging stations, standardization of battery electric vehicle (BEV) charging systems, and consumers’ perceptions about convenience and cost for charging a BEV; the availability of tax and other governmental incentives to purchase and operate NEVs or future regulations requiring increased use of nonpolluting vehicles; perceptions about and the actual cost of alternative fuel; and   
macroeconomic factors. Any of the factors described above may cause current or potential customers not to purchase the company's battery electric vehicles (BEVs) and use the company's services. If the market for new energy vehicles (NEVs) does not develop in the way the company expects or develops more slowly than the company expects, the company's business, prospects, financial condition, and operating results will be affected. announcements by the company or its competitors of new product and service offerings, acquisitions, strategic relationships, joint ventures, capital raisings or capital commitments; additions to or departures of the company's senior management; fluctuations of exchange rates between the Renminbi and the U.S. dollar; release or expiry of lock-up or other transfer restrictions on the company's issued shares or ADSs; and   
sales or perceived potential sales of additional ordinary shares or ADSs. reviewing with the company's management, the internal auditors and the independent auditor other material issues, materials, transactions and policies, including but not limited to analyses or written communications prepared by the company's management and/or the independent auditor, the critical accounting policies and practices of the company, the effect of major transactions or major issues regarding accounting principles and financial statement presentations; reviewing the company's disclosure controls and procedures and internal control over financial reporting, policies and practices with respect to risk assessment and risk management; ● reviewing and assessing the adequacy of the company's committee charter periodically and recommend any proposed changes to the board; and reviewing and approving all related party transactions. Compensation Committee. The company's compensation committee consists of Donghui Li, Conghui An, Miguel A. Lopez Ben, and Michael David Ricks and is chaired by Donghui Li. The company has determined that each of Miguel A. Lopez Ben and Michael David Ricks satisfies the “independence” requirements of Rule 5605(a)(2) of the Listing Rules of the NYSE. The compensation committee assists the board of directors in reviewing and approving the compensation structure, including all forms of compensation, relating to the company's directors and executive officers. The company's chief executive officer may not be present at any committee meeting during which their compensation is deliberated upon. The compensation committee is responsible for, among other things: reviewing and approving the compensation of each of the company's executive officers; periodically reviewing the company's management succession planning, including policies for executive officers’ selection and succession in the event of the incapacitation, retirement or removal of the executive officers, and evaluations of, and development plans for, any potential successors to the executive officers; reviewing and submitting for the board’s approval the company's executive compensation and benefits policies generally; periodically reviewing and assessing the adequacy of the committee charter and recommending any proposed changes to the board for approval; and   
reviewing and assessing risks arising from the company's employee compensation policies and practices and whether any such risks are reasonably likely to have a material adverse effect on the company. Nominating Committee. The company's nominating committee consists of Shengyue Gui, Donghui Li, Stephen Brown Davis, and Michael David Ricks, and is chaired by Shengyue Gui. The company has determined that Stephen Brown Davis and Michael David Ricks satisfy the “independence” requirements of Rule 5605(a)(2) of the Listing Rules of the NYSE. The nominating committee assists the board in selecting individuals qualified to become the company's directors and in determining the composition of the board of directors and its committees. The nominating committee is responsible for, among other things: overseeing searches for and identifying qualified individuals for membership on the board and recommending individuals for membership on the board and its committees for approval by the board and/or the shareholders, if applicable; at least annually leading the board in a self-evaluation to determine whether the board and its committees are functioning effectively, and reviewing the evaluations prepared by each board committee of such committee’s performance and considering any recommendations for proposed changes to the board; reviewing and approving compensation (including equity-based compensation) for the company's directors; overseeing an orientation and continuing education program for the company's directors; and   
evaluating the nominating committee's own performance and reporting to the board on such evaluation, and periodically reviewing and assessing the adequacy of the committee charter and recommending any proposed changes to the board for approval. Sustainability Committee. The company's sustainability committee consists of Conghui An, Stephen Brown Davis, and Michael David Ricks, and is chaired by Conghui An. The sustainability committee assists the board of directors in overseeing the environmental, social, and governance (“ESG”) matters relevant to the company's business activities. The sustainability committee is responsible for, among other things: consider the current and emerging ESG matters that may affect the business, operations or reputation of the company; ● analyze the risks and opportunities regarding ESG matters that are of strategic significance to the company; develop the strategies, policies and initiatives regarding ESG matters; design the plans, goals and objectives for ESG matters and monitor the company's progress towards such goals and objectives; ● oversee the integration of policies regarding ESG matters into the company's business operations; ● oversee the company's reporting standards in relation to ESG matters; review proposed disclosures or statements to be made on key ESG matters; and shape communications with employees, investors and other stakeholders regarding ESG matters. (1) Represents (i) 1,668,996,860 ordinary shares held by Luckview Group Limited, a limited company incorporated in the British Virgin Islands wholly owned by Geely Auto, a Cayman Islands incorporated company with limited liability and listed on the Stock Exchange of Hong Kong under stock code $^ { 6 6 } 0 1 7 5$, over which Shufu Li exercises control power, (ii) 222,000,000 ordinary shares held by GHGK Innovation Limited, a British Virgin Islands company with limited liability wholly owned by Ningbo Jikong Jiju Enterprise Management Partnership (Limited Partnership), a PRC limited partnership whose general partner is Ningbo Jikong Enterprise Management Co., Ltd., a PRC-incorporated limited company in which Shufu Li owns 99.9% equity interest, and (iii) 60,000,000 ordinary shares held by GAGK Innovation Limited, a British Virgin Islands company with limited liability and wholly owned by Ningbo Jiqi Jichuang Enterprise Management Partnership (Limited Partnership), a PRC limited partnership whose general partner is Ningbo Jikong Enterprise Management Co., Ltd. Shufu Li disclaims beneficial ownership to the ordinary shares held by Luckview Group Limited, GHGK Innovation Limited, and GAGK Innovation Limited except to the extent of his pecuniary interest in such ordinary shares. (2) Represents 68,000,000 ordinary shares held by ACH Technology Holding Limited, a British Virgin Islands company with limited liability wholly owned by Conghui An. The business address of ACH Technology Holding Limited is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands. (3) Represents 1,668,996,860 ordinary shares directly held by Luckview Group Limited, as disclosed in footnote (1) above. The business address of Luckview Group Limited is P.O. Box 3152, Road Town, Tortola, British Virgin Islands. (4) Represents 222,000,000 ordinary shares directly held by GHGK Innovation Limited, as disclosed in footnote (1) above. The business address of GHGK Innovation Limited is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands. As of February 28, 2025, a total of 492,102,027 ordinary shares are held by two record holders in the United States, representing 19.0% of the outstanding ordinary shares. The company is not aware of any arrangement that may, at a subsequent date, result in a change of control of the company. 6.F. Disclosure of the company's Action to Recover Erroneously Awarded Compensation None. is not required to open its register of members for inspection; the company does not have to hold an annual general meeting; the company is prohibited from making any invitation to the public in the Cayman Islands to subscribe for any of its securities; the company may issue negotiable or bearer shares or shares with no par value; the company may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 or 30 years in the first instance); the company may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands; ● the company may register as a limited duration company; and the company may register as a segregated portfolio company. “Limited liability” means that the liability of each shareholder is limited to the amount unpaid by the shareholder on that shareholder’s shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil). a person that acquired American Depositary Shares (ADSs) or ordinary shares pursuant to the exercise of an employee stock option or otherwise as compensation; or  
a person that holds American Depositary Shares (ADSs) or ordinary shares in connection with a trade or business outside the United States. If the company is a partnership (or other entity classified as a partnership for U.S. federal income tax purposes) that owns American Depositary Shares (ADSs) or ordinary shares, the U.S. federal income tax treatment of the company's partners will generally depend on their status and the company's activities. If the company is a partnership that owns ADSs or ordinary shares, the company should consult the company's tax adviser as to the particular U.S. federal income tax consequences to the company and the company's partners of owning and disposing of the ADSs or ordinary shares. This discussion is based on the Internal Revenue Code of 1986, as amended, or the Code, administrative pronouncements, judicial decisions, final, temporary and proposed Treasury regulations, and the income tax treaty between the United States and the People's Republic of China (PRC), or the Treaty, all as of the date hereof, any of which is subject to change, possibly with retroactive effect. This discussion assumes that each obligation under the deposit agreement and any related agreement will be performed in accordance with its terms. For purposes of this discussion, you are a “U.S. Holder” if you are, for U.S. federal income tax purposes, a beneficial owner of the American Depositary Shares (ADSs) or ordinary shares and: a citizen or individual resident of the United States;  
a corporation, or other entity taxable as a corporation, created or organized in or under the laws of the United States, any state therein or the District of Columbia; or  
an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source. In general, if you own the American Depositary Shares (ADSs), you will be treated as the owner of the underlying ordinary shares represented by those ADSs for U.S. federal income tax purposes. Accordingly, no gain or loss will be recognized if you exchange your American Depositary Shares (ADSs) for the underlying ordinary shares represented by those American Depositary Shares (ADSs). This discussion does not address the effects of any state, local, or non-U.S. tax laws, or any U.S. federal taxes other than income taxes (such as U.S. federal estate or gift tax consequences). Shareholders should consult their tax adviser concerning the U.S. federal, state, local, and non-U.S. tax consequences of owning and disposing of the American Depositary Shares (ADSs) or ordinary shares in their particular circumstances. 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, pick-up 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 its model with CATL’s latest Qilin battery, making it the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, its 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 February 2024, according to Frost & Sullivan. The company started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, its cross-over hatchback vehicle model based on ZEEKR 001. 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. In April 2024, the company launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released ZEEKR MIX, its MPV model, in the same month. • 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. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension. structure, the company's upscale sedan model is expected to achieve a $2.84 ~ 0.100 km/h acceleration and a 688 km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 2024. The company's current and future BEV models will define the company's 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 of mobility lifestyle. 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 MODEL 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 MODEL 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 December 31, 2023, the company delivered a total of 196,633 MODEL vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. 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 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, utilizing 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 intelligent BEV. 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 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 24 company Centers, 240 company Spaces, 31 company Delivery Centers, and 45 company Houses in China, and two company Centers overseas as of December 31, 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 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 total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by its strong in-house R&D capabilities, high operational flexibility, and flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, its cross-over hatchback vehicle model based on ZEEKR 001. Featuring unique exterior and interior design and the company's 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. In April 2024, the company launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released ZEEKR MIX, its MPV model, in the same month. • 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. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension structure, the company's upscale sedan model is expected to achieve a $2.84 s 0-100 km/h acceleration and a $688 km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 2024. As a testament to the popularity of the company's current vehicle models and the company's 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 new energy vehicle models. 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 December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. 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 ZEEKR brand. 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. 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 approximately five times to 13.7 million units in 2028 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience an even faster growth, almost increasing to more than seven times the volume in 2021 by 2028, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 5.3 million units in sales volume in 2028, representing a CAGR of 18.6% from 2024 to 2028, according to Frost & Sullivan. The company has started to deliver its models in Europe in December 2023. In the future, the company also plans to tap into the robotaxi market in the United States. 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 expects to start the delivery of ZEEKR 009 to the market in the first quarter of 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 the SEA-M platform, 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 ZEEKR 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 its model 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 66,611 units of its model as of November 30, 2022, which is among the fastest deliveries in the premium BEV market in China from October 2021 to November 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 its model 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 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 seven centers, 171 spaces, 22 delivery centers and one house as of September 30, 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 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 September 30, 2022, there are 512 charging stations with different charging capabilities, including 149 ultra charging stations, 249 super charging stations, and 114 light charging stations, covering 102 cities in China, further supported by third-party charging stations that cover 335 cities in China with approximately 350 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's revenue from vehicle sales amounted to RMB1,544.3 million and RMB10,820.2 million (US$1,521.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 1.8% and 4.6%, respectively. In addition to vehicle sales, the company generated revenues from research and development services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB18,467.5 million (US$2,596.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 15.9% and 8.4%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB5,317.2 million (US$747.5 million) in 2021 and the nine months ended September 30, 2022, respectively. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version 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 seven centers, 171 spaces, 22 delivery centers, and one house as of September 30, 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 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 is a fast-growing battery electric vehicle (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 the application of new technologies. The company's efforts are backed by strong in-house research and development (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. The company strategically spearheaded the premium intelligent battery electric vehicle (BEV) market with unique positioning, featuring a strong sense of technology, in-house research and development (R&D) capabilities, stylish design, high-caliber performance, and a premium user experience. The company's product portfolio currently includes ZEEKR 001 and ZEEKR 009. ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 on April 15, 2021, a five-seater, crossover 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. The company began the delivery of ZEEKR 001 on October 23, 2021. • ZEEKR 009. On November 1, 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 expects to start the delivery of ZEEKR 009 to the market in the first quarter of 2023. Going forward, the company plans to capture the extensive potential of the premium battery electric vehicle (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 Transportation as a Service (TaaS) vehicle built on the Sustainable Experience Architecture-Mobility (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 products and the company's 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, sets a new record among the major mid- to high-end new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of 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 66,611 units of ZEEKR 001 as of November 30, 2022, which is among the fastest deliveries in the premium BEV market in China from October 2021 to November 2022, according to Frost & Sullivan. The development of the company's battery electric vehicle (BEV) models is powered by the Sustainable Experience Architecture (SEA), a set of open-source, electric and modularized platforms 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 widely compatible SEA enables robust research and development (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. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, ZEEKR 009’s extended range version 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 ZEEKR 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. The company has strong in-house technological capabilities focusing on electrification and intelligentization. The company's industry-leading in-house design, engineering, and research and development (R&D) enable the company 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, the company continuously updates its battery electric vehicle (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’s DRIVE Thor on 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 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 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 seven Centers, 171 Spaces, 22 Delivery Centers, and one House as of September 30, 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 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 September 30, 2022, there are 512 charging stations with different charging capabilities, including 149 ultra charging stations, 249 super charging stations, and 114 light charging stations, covering 102 cities in China, further supported by third-party charging stations that cover 335 cities in China with approximately 350 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 battery electric vehicle (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. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. 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 compound annual growth rate (CAGR) of 29.4% from 2022 to 2026, according to Frost & Sullivan. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB10,820.2 million (US$1,521.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 1.8% and 4.6%, respectively. In addition to vehicle sales, the company generated revenues from BEV-related research and development and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB18,467.5 million (US$2,596.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 15.9% and 8.4%, respectively. The company is a fast-growing battery electric vehicle (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 research and development 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. As a testament to the popularity of the company's products and capabilities, the company has achieved a total delivery of 10,000 units of the model 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 new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of the model 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 66,611 units of the model as of November 30, 2022, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to November 2022, according to Frost & Sullivan. The company's total revenue from vehicle sales amounted to RMB1,544.3 million and RMB10,820.2 million (US$1,521.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 1.8% and 4.6%, respectively. In addition to vehicle sales, the company generated revenues from BEV-related research and development and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB18,467.5 million (US$2,596.1 million) in 2021 and the nine months ended September 30, 2022, respectively, with a gross profit margin of 15.9% and 8.4%, respectively. The development of the company's battery electric vehicle (BEV) models is powered by SEA, a set of open-source, electric and modularized platforms 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 widely compatible SEA enables robust research and development 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 the ZEEKR 009 with CATL’s latest Qilin battery thanks to the structural flexibility of SEA. Together with the company's proprietary advanced battery solutions and highly efficient... electric drive system, the ZEEKR 009’s extended range version 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. 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 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 its model with CATL’s latest Qilin battery, making it the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the extended range version of the model 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, 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. 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 Model 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 Model 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 its 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, *[I'm unable to process the image or extract the table information.]* *Table Level*  
- Table Title: company Intelligent Technology Holding Limited Shareholders' Equity Arrangement  
- Table Summary: This table represents the changes in shareholders' equity components for company Intelligent Technology from ordinary shares and preferred shares to various capital accounts, accumulated deficits, and total equity, recorded in RMB, as of certain key dates.  
- Context: The table is part of a financial disclosure detailing company's consolidated balance sheets and statements of operations. Other sections describe financial events such as share issuance, acquisitions, and net losses over the years ending on December 31st.  
- Special Notes: All amounts are in thousands of RMB; noteworthy formatting includes underlining to denote final totals in the table.  

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

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

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

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

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

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

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

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

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

Subsequent rows similarly describe the changes in operating assets and liabilities, including values for notes receivable, accounts receivable, inventories, and amounts due from related parties among others. The subsequent section details cash flows from investing activities such as purchases of property, plant, and equipment, investments in equity investees, and proceeds from various disposals. The final lines summarize net cash provided by/used in both operating and investing activities for the stated years and respective currencies. The company 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, 2023, there were 882 charging stations with different charging capabilities, including 436 ultra charging stations, 330 super charging stations, and 116 light charging stations, covering over 130 cities in China, further supported by over 54 thousand third-party charging stations that cover over 340 cities in China with approximately 610 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 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 started to deliver ZEEKR 001 (2024 model) in March 2024. In October 2023, the company released ZEEKR 001 FR, a cross-over hatchback vehicle model based on ZEEKR 001. 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. In April 2024, the company launched ZEEKR 009 Grand, a luxury version of ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released ZEEKR MIX, its MPV model, in the same month. • ZEEKR X. In April 2023, the company released ZEEKR X, a compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver ZEEKR X in June 2023. • ZEEKR Upscale Sedan Model. In November 2023, the company launched its first upscale sedan model targeting tech-savvy adults and families. Powered by 800V architecture and multi-link suspension. Structure, the company's upscale sedan model is expected to achieve a $2.84 \mathrm{s} ~ 0{ \cdot }100 \mathrm{km/h}$ acceleration and a 688km maximum CLTC range. The company began the delivery of its first upscale sedan model in January 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. 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 December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. 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 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, the company continuously updates its BEV functions through effective and efficient FOTA. The company deploys cutting-edge autonomous driving technology into its BEVs, utilizing 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, it 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 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. The company began the delivery of its first upscale sedan model in January 2024. 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 ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end new energy vehicle models. 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 December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. 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 ZEEKR brand. Within less than three years since the company’s inception, the company has launched multiple commercialized electric vehicle models, namely Model A, Model B, Model C, Model D, and an upscale sedan model. Model A is a five-seater crossover shooting brake BEV model targeting the premium market and mainly addressing the customer need for practical yet stylish traveling. The company released Model A (2024 model) in February 2024 and started vehicle delivery in March 2024. Model C is a luxury six-seater MPV addressing the customer need for luxury mobility. In April 2023, the company released Model D, the compact SUV model, and began to deliver Model D in June 2023. The company also started to deliver Model B in November 2023 and began to deliver the first upscale sedan model in January 2024. In addition to major upgrades such as the release of Model A (2024 model), the company has also been continuously fine-tuning and improving the performance of its other BEV models. For example, the company updated the interior configurations of Model C and improved the chassis system of Model D in 2024. In April 2024, the company launched Model C Grand, a luxury version of Model C featuring enhanced safety, privacy, and intelligence. The company also released Model E, the MPV model, in the same month. The company's products have been well received by the market, achieving a total delivery of 10,000 units of Model 001 in less than four months since its initial delivery in October 2021, 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. The company's current and future models will be primarily based on Geely Holding’s proprietary SEA, which is highly agile, compatible, and enables the company to quickly build and launch a wide range of vehicle models catering to different demands in the premium BEV segment. Developed based on SEA, the company's vehicles embody impressive vehicle performance, FOTA-enabled upgrades, superior driving and riding experiences, as well as striking and trendy designs that provide a comprehensive smart mobility experience to the company's customers. • Outstanding battery and range performance. The up-to- $100 \mathrm{kWh}$ battery supports a maximum CLTC range of $741 \mathrm{km}$ on Model 001 and $750 \mathrm{km}$ on Model 001 (2024 model), respectively, which is ahead of most of the BEV models of the company's peers, according to Frost & Sullivan. According to Frost & Sullivan, Model 009 is the world’s first pure-electric MPV model with over $800 \mathrm{km}$ CLTC range, and it has the longest all-electric range in the MPV market by the end of February 2024. • State-of-the-art autonomous driving expertise. Model 001, Model 009, and Model 001 FR are equipped with 7nm Mobileye EyeQ5H high-performance chips and Falcon Eye Vidar systems, all of which bring out the full potential of the company’s autonomous driving suite. The upscale sedan model adopts the NVIDIA DRIVE Orin platform to power the company's proprietary intelligent autonomous driving systems. In addition, the 2024 model incorporates the latest Mobileye EVO domain control platform, which enables bolstered performance and heightened system stability. • Extensive customization options with fast launch pace enabled by SEA. The company offers customers a large number of different setup combinations and customization options.  
• Maverick driving performance that stands out among its peers. Equipped with industry-leading driving metrics, the company's BEVs hold the leading position in the industry based on key performance metrics, according to Frost & Sullivan. See “Industry Overview — Competitive Landscape.”  
• Premium in-vehicle configurations and distinct exterior design to enhance user experience and meet demands for individuality. The company offers drivers and passengers a suite of in-vehicle configurations featuring comfort and pleasure. According to Frost & Sullivan, the 2024 model offers more competitive specifications compared with BEVs of similar price ranges. The 2024 model also embodies a stylish exterior, which is suitable for customers with bold and expressive lifestyles. For instance, the Grand model offers two separate rear seats, each equipped with electric adjustments, heating and massage functions, ensuring comprehensive comfort for passengers. Additionally, the Grand model features a 43-inch ultra-large 4K screen and an 8-inch smart control screen running OS 6.0, which is paired with a 31-speaker YAMAHA premium sound system. Such setup not only satisfies passengers’ entertainment needs but also supports quality online conferencing. The company is a fast-growing battery electric vehicle (BEV) technology company developing and offering next-generation premium BEVs and technology-driven solutions to lead the electrification, intelligentization, and innovation of the automobile industry. The company is an independently-run startup-style company relying on its in-house research and development (R&D) capabilities and self-owned sales and marketing network, among others. The company adopts a flat and efficient organizational structure led by key management with diversified backgrounds. Since inception, the company has been managed and directed by its executive officers, and save for Conghui An, who is currently an executive director of Geely Auto, none of the company's executive officers are members of management of Geely Auto. Additionally, Mr. An is expected to not hold any positions in Geely Auto prior to or upon the completion of the offering. While the company's chairman, Shufu Li, is also the chairman of Geely Auto, upon the completion of the offering, the directors that the company shares in common with Geely Auto will not have executive roles at the company. The company has been dedicated to serving its customers by leveraging top-notch technology, advanced product concepts, and an enriched entrepreneurial spirit that embraces creativity and innovation. The company is strategically positioned as a premium BEV brand that delivers an ultimate experience covering driving, charging, after-sale service, and customer community engagement. The company’s product family meets a wide spectrum of customer needs in different mobility and travel scenarios and is highly customized with a wide selection of vehicle configurations. The company's products have been well received by the market, achieving a total delivery of 10,000 units of MODEL 001 in less than four months since its initial delivery in October 2021, 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. The company's current and future models will be primarily based on Geely Holding’s proprietary SEA, which is highly agile, compatible, and enables the company to quickly build and launch a wide range of vehicle models catering to different demands in the premium BEV segment. Developed based on SEA, the company's vehicles embody impressive vehicle performance, FOTA-enabled upgrades, superior driving and riding experiences, as well as striking and trendy designs that provide a comprehensive smart mobility experience to the company's customers. • Outstanding battery and range performance. The up-to- $100 \mathrm{kWh}$ battery supports a maximum CLTC range of $741 \mathrm{km}$ on MODEL 001 and $750 \mathrm{km}$ on MODEL 001 (2024 model), respectively, which is ahead of most of the BEV models of the company's peers, according to Frost & Sullivan. According to Frost & Sullivan, MODEL 009 is the world’s first pure-electric MPV model with over $800 \mathrm{km}$ CLTC range, and it has the longest all-electric range in the MPV market by the end of February 2024. • State-of-the-art autonomous driving expertise. MODEL 001, MODEL 009, and MODEL 001 FR are equipped with 7nm Mobileye EyeQ5H high-performance chips and Falcon Eye Vidar systems, all of which bring out the full potential of the company’s autonomous driving suite. The upscale sedan model adopts the NVIDIA DRIVE Orin platform to power the company's proprietary intelligent autonomous driving systems. In addition, the 2024 model incorporates the latest Mobileye EVO domain control platform, which enables bolstered performance and heightened system stability. • Extensive customization options with fast launch pace enabled by SEA. The company offers customers a large number of different setup combinations and customization options.  
• Maverick driving performance that stands out among its peers. Equipped with industry-leading driving metrics, the company's battery electric vehicles (BEVs) hold the leading position in the industry based on key performance metrics, according to Frost & Sullivan. See “Industry Overview — Competitive Landscape.”  
• Premium in-vehicle configurations and distinct exterior design to enhance user experience and meet demands for individuality. The company offers drivers and passengers a suite of in-vehicle configurations featuring comfort and pleasure. According to Frost & Sullivan, the 2024 model offers more competitive specifications compared with BEVs of similar price ranges. The 2024 model also embodies a stylish exterior, which is suitable for customers with bold and expressive lifestyles. For instance, the Grand model offers two separate rear seats, each equipped with electric adjustments, heating and massage functions, ensuring comprehensive comfort for passengers. Additionally, the Grand model features a 43-inch ultra-large 4K screen and an 8-inch smart control screen running OS 6.0, which is paired with a 31-speaker YAMAHA premium sound system. Such setup not only satisfies passengers’ entertainment needs but also supports quality online conferencing. 5. The company notes that it purchases vehicles for resale from Geely Holding at a price made up of the purchase cost of direct materials and a pre-agreed markup. Please describe the manufacturer’s warranty provided by Geely Holding for these vehicles and to what extent the manufacturer’s warranties have an impact on the company's accounting for warranty expenses, if material. In response to the Staff’s comment, the company has revised the disclosure on page 90 of the Revised Draft Registration Statement. The company respectfully advises the Staff that under the cooperation framework agreement between the company and Geely Holding, the company Factory provides an assurance-type product warranty for all product quality problems caused by its manufacturing, with a warranty period no less than what the company offers to its customers. In the event where the product defect is caused by raw material suppliers, the company is entitled to seek damages from the company Factory, which in turn could seek damages from the responsible suppliers. The company further advises the Staff that when estimating warranties, the accrual is established based on estimates of the nature, frequency, and average costs of future claims, net of estimated warranty cost recoveries, to the extent that is estimable and probable. 12. Provide a description of the sources and availability of raw materials, including a description of whether prices of principal raw materials are volatile. Please also disclose whether and to what extent the company is responsible for the procurement of raw materials under its Cooperation Framework Agreement with Geely. Refer to Item 4.B of Form 20-F. If the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means it thinks is legal, fair and practical. If the depositary cannot make the distribution in that way, the depositary has a choice. The depositary may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, the depositary may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. If the depositary exercises rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means it thinks is legal, fair, and practical. If the depositary cannot make the distribution in that way, the depositary has a choice. The depositary may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, the depositary may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. If the depositary exercises rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means it thinks is legal, fair and practical. If the depositary cannot make the distribution in that way, the depositary has a choice. The depositary may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, the depositary may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. If the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means the depositary thinks is legal, fair, and practical. If the depositary cannot make the distribution in that way, the depositary has a choice. The depositary may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, the depositary may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. If the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new American Depositary Shares (ADSs) representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means the depositary thinks is legal, fair, and practical. If the depositary cannot make the distribution in that way, the depositary has a choice. The depositary may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, the depositary may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. [Table Level]  
- Table Title: Key Features of a Vehicle Model  
- Table Summary: This table illustrates the key features of a vehicle model, highlighting its specifications in terms of size, power, performance, connectivity, intelligence, and comfort. It details various technical specifications and comfort features, providing a comprehensive overview of what makes this vehicle a prominent MPV model.  
- Context: The vehicle is designed with safety, comfort, and performance at its core, featuring high-strength materials and advanced technology. The vehicle has achieved significant sales, contributing to a notable portion of the company's revenue.  
- Special Notes: The vehicle is equipped with CATL's Qilin battery technology and includes industry-leading safety and driving assistance features.  

[Row Level]  
Row 1: Under Size, the vehicle has a length of 5,209 mm, a width of 2,024 mm, ground clearance of 139 mm, and a wheelbase measuring 3,205 mm, offering a spacious interior with comfort-focused design.  
Row 2: For Power, the vehicle is equipped with a battery capacity of 140 kWh, offering an impressive CLTC range of 822 km. It charges from 10% to 80% in just 28 minutes and houses a CATL’s Qilin Battery pack.  
Row 3: The Performance features include a max power output of 400 kW, an acceleration capability of 0-100 km/h in 4.5 seconds, a max torque of 686 Nm, and fully autonomous air suspension.  
Row 4: In terms of Connectivity, the vehicle comes with a 15.6-inch ceiling-mounted screen, a 10.25-inch instrument cluster, a smart cockpit powered by an OS for MPV, and a YAMAHA top audio system.  
Row 5: Regarding Intelligence, the vehicle is equipped with a 7 nm Mobileye EyeQ5H high performance chip, a Vidar System labeled Falcon Eye, and an algorithm platform featuring a cross-vision fusion algorithm. It also includes an AD system for autonomous driving.  
Row 6: Concerning Comfort, the seats are made from Sofaro First-class Soft NAPPA and include massaging, venting, and heating functions. The vehicle also features a 585 cm² folding table and an automatic door and seat for easy back seat access. If the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means it thinks is legal, fair and practical. If the depositary cannot make the distribution in that way, it has a choice. It may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, it may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. U.S. securities laws may restrict the ability of the depositary to distribute securities to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. If the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer. Other Distributions. The depositary will send to ADS holders anything else the company distributes on deposited securities by any means it thinks is legal, fair, and practical. If the depositary cannot make the distribution in that way, it has a choice. It may decide to sell what the company distributed and distribute the net proceeds, in the same way as it does with cash. Or, it may decide to hold what the company distributed, in which case ADSs will also represent the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders unless it receives satisfactory evidence from the company that it is legal to make that distribution. The depositary may sell a portion of the distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. U.S. securities laws may restrict the ability of the depositary to distribute securities to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer.