What is the sales contribution of different Zeekr products in 2024?
The following table sets forth a breakdown of the company's revenues, each expressed in the absolute amount and as a percentage of the company's total revenues, for the periods indicated. The company vehicle sales  
Sales of the company batteries and other components  
The company research and development services and other services Revenues increased by 46.9% from RMB51,672.6 million in 2023 to RMB75,912.7 million (US$10,400.0 million) in 2024, which was primarily due to: (i) the company's vehicle sales revenue experienced an increase from RMB33,911.8 million in 2023 to RMB55,315.3 million (US$7,578.2 million) in 2024. The increase in the company's vehicle sales mainly resulted from the increased delivery volume of new products. Compared to 118,685 units of the company vehicles delivered in 2023, the company delivered 222,123 units of the company vehicles in 2024. The increase in the company's vehicle sales revenue was partially offset by the lower average selling price as a result of the changes in product mix and pricing strategy.  
(ii) the company's revenue from sales of batteries and other components grew from RMB14,692.6 million in 2023 to RMB16,793.8 million (US$2,300.7 million) in 2024. The increase was primarily attributed to robust sales volumes in battery and electric drive systems, coupled with a RMB 1,392.5 million (USD 190.8 million) growth in overseas sales of battery components.  
(iii) During the same periods, the revenue generated from the company's research and development services and other services increased from RMB3,068.2 million to RMB3,803.5 million (US$521.1 million). The year-over-year increase was mainly due to the increased sales of vehicle spare parts. In 2024, company delivered 222,123 vehicles. As of December 31, 2024, company cumulatively delivered a total of 418,756 vehicles. The following chart summarizes the monthly deliveries of company vehicles by the end of February 2025. The company's gross profit increased by 81.7% from RMB6,850.5 million in 2023 to RMB12,447.5 million (US$1,705.3 million) in 2024, which was primarily due to (i) an increase in gross profit from vehicle sales from RMB5,080.2 million in 2023 to RMB8,650.3 million (US$1,185.1 million) in 2024; (ii) an increase in gross profit from sales of batteries and other components from RMB884.5 million in 2023 to RMB2,312.7 million (US$316.8 million) in 2024; and (iii) an increase in gross profit from research and development services from RMB885.8 million in 2023 to RMB1,484.5 million (US$203.4 million) in 2024. The company's gross profit margin increased from 13.3% in 2023 to 16.4% in 2024. The increase was mainly attributable to the slight growth of the company's vehicle sales business, which had a higher gross profit margin at 15.6% in 2024. The gross profit and gross profit margin for the company in 2024 were RMB9,948.7 million (US$1,363.0 million) and 17.0%, respectively, compared with RMB5,791.9 million and 16.3% in 2023. The increase was primarily attributed to (i) the increase in delivery volume of the company's vehicles together with changes in pricing strategy to align with market dynamics and (ii) procurement savings due to the declining average costs in auto parts and other materials. For the Viridi Segment, the company recorded RMB954.2 million and RMB2,386.6 million (US$327.0 million) in gross profit and recorded gross profit margins of 5.2% and 13.3% in 2023 and 2024, respectively. The increase was primarily due to the growth in overseas sales of battery components, which had higher average gross margins. The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • 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). While the company is still in the process of preparing its financial statements for the three months ended March 31, 2024, the company estimates its vehicle sales revenue in the first quarter of 2024 to be higher than in the first quarter of 2023, but lower than in the fourth quarter of 2023 due to seasonality that impacted delivery volume, as well as the lower average selling price primarily caused by the change in the company's product mix. The company estimates its total revenue in the first quarter of 2024 to be higher than in the first quarter of 2023, but lower than in the fourth quarter of 2023 due to the above-mentioned quarter-over-quarter decrease in vehicle sales revenue and a significant quarter-over-quarter decrease in revenue generated from research and development services and other services, despite the estimated quarter-over-quarter increase in revenue from sales of batteries and other components. In addition, the company estimates its gross profit margin in the first quarter of 2024 to be lower than in the fourth quarter of 2023 because of the negative effect from the delivery of new vehicle models as well as the change in product mix, and the increase in the percentage of revenue contribution from sales of batteries and other components that have a lower gross profit margin than vehicle sales. Because the company does not have final results for the first quarter of 2024, the company's actual results could differ from the company's expected results discussed above when they become available. The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by its strong in-house R&D capabilities, high operational flexibility, and flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In February 2024, the company released an upgraded model of ZEEKR 001 (2024 model). The company's total revenue amounted to RMB6,527.5 million, RMB31,899.4 million, and RMB51,672.6 million (US$7,277.9 million) in 2021, 2022, and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, and 13.3%, respectively. The company recorded a net loss of RMB4,514.3 million, RMB7,655.1 million, and RMB8,264.2 million (US$1,164.0 million) in 2021, 2022, and 2023, respectively. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation and technological advancement in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. As a testament to the popularity of the company's current vehicle models and its capabilities, the company has achieved a total delivery of 10,000 units of the ZEEKR 001 in less than four months after the initial delivery, which, according to Frost & Sullivan, is one of the fastest among the major mid- to high-end new energy vehicle (NEV) models and premium battery electric vehicle (BEV) models in China. In October 2022, the company delivered 10,119 units of the ZEEKR 001 to the market, making it the first pure-electric premium vehicle model manufactured by a Chinese BEV brand with over.
The company had an unstable and volatile financial performance. The company's total revenue increased significantly by RMB24,240.1 million, or approximately 46.9%, from RMB51,672.6 million in 2023 to RMB75,912.7 million (US$10,400.0 million) in 2024. The increase was primarily due to the increase in (i) vehicle sales of RMB21,403.5 million and (ii) sales of batteries and other components of RMB2,101.2 million. The company's total revenue increased significantly by RMB19,773.2 million, or approximately 62.0%, from RMB31,899.4 million in 2022 to RMB51,672.6 million in 2023. The increase was primarily due to the increase in (i) vehicle sales of RMB14,240.5 million and (ii) sales of batteries and other components of RMB4,374.8 million. However, although the company's revenue from vehicle sales and sales of batteries and other components increased significantly, the company might experience volatility or not be able to maintain a similar increase rate, which could adversely affect the company's financial condition and results of operation. Furthermore, as a result of the corresponding rising cost of revenues and increasing operating expenses, the company's net loss decreased by RMB2,473.5 million, where the company recorded a net loss of RMB5,790.6 million (US$793.3 million) in 2024, compared to a net loss of RMB8,264.2 million in 2023. The company incurred a significant increase of RMB609.1 million in net loss and recorded a net loss of RMB8,264.2 million in 2023, compared to a net loss of RMB7,655.1 million in 2022. The company cannot assure you that the company will achieve profitability in the near future as the company is still at an early stage. For example, the number of research and development projects that reached customer acceptance and payment stage in the first quarter of 2024 was less than that of the fourth quarter of 2023, which is expected to cause a significant quarter-over-quarter decrease in revenue generated from research and development services and other services as well as the gross profit in relation to the company's research and development services and other services in the first quarter of 2024. Besides the company's in-house expertise, the company also relies on certain technologies of its suppliers to enhance the performance of its battery electric vehicles (BEVs). In particular, the company does not manufacture battery cells or semiconductors, which makes the company dependent upon suppliers for the relevant technologies. There can be no assurance that the company will be able to equip its BEVs with the latest technologies. As technologies change, the company plans to upgrade its existing models and introduce new models in order to provide its BEVs with the latest technologies, including battery cells and semiconductors, which could involve substantial costs and lower the company's return on investment for existing models. Even if the company is able to keep pace with changes in technologies and develop new models, its prior models could become obsolete more quickly than expected, potentially reducing the company's return on investment. The development and sales of battery electric vehicles (BEVs) is the company's business focus and contribute to an increasing portion of the company's revenue since the launch of the ZEEKR 001, the company's first mass-produced BEV model. The company released the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched the second vehicle model, ZEEKR 009, and started to deliver the ZEEKR 009 to customers in January 2023. In April 2023, the company released the ZEEKR X, the company's compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023 and began to deliver the company's first upscale sedan model in January 2024. Going forward, the company targets to roll out an expanded product portfolio, including but not limited to robotaxis, to meet various customer demands and preferences. The company is working with Waymo, a leader in Level 4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The development and sales of battery electric vehicles (BEVs) is the company's business focus and contribute to an increasing portion of the company's revenue since the launch of the ZEEKR 001, the company's first mass-produced BEV model. The company released the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched the second vehicle model, ZEEKR 009, and started to deliver the ZEEKR 009 to customers in January 2023. In April 2023, the company released the ZEEKR X, the company's compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023 and began to deliver the company's first upscale sedan model in January 2024. Going forward, the company targets to roll out an expanded product portfolio, including but not limited to robotaxis, to meet various customer demands and preferences. The company is working with Waymo, a leader in Level 4 (L4) autonomous driving technology, to supply vehicles for the Waymo One Fleet. [Table Level]
- Table Title: Vehicle Delivery Volumes by Month
- Table Summary: This table presents the delivery volumes of vehicles on a monthly basis from January 2024 to February 2025. It highlights the scaling production capability and growing market reach of the company brand during this time frame.
- Context: The context before the table emphasizes the company's premium brand image, technological capabilities, and the strategic expansion into the international market, along with insights into the overall delivery achievements up to December 2024. After the table, specific vehicle brands contributing to delivery numbers, including the acquisition of Lynk & Co, are discussed.
- Special Notes: The delivery figure for February 2025 includes 14,039 vehicles and 17,238 Lynk & Co vehicles following the acquisition of Lynk & Co.

[Row Level]
Row 1: In February 2025, the delivery volume was 31,277 units.
Row 2: In January 2025, the delivery volume was 11,942 units.
Row 3: In December 2024, the delivery volume was 27,190 units.
Row 4: In November 2024, the delivery volume was 27,011 units.
Row 5: In October 2024, the delivery volume was 25,049 units.
Row 6: In September 2024, the delivery volume was 21,333 units.
Row 7: In August 2024, the delivery volume was 18,015 units.
Row 8: In July 2024, the delivery volume was 15,655 units.
Row 9: In June 2024, the delivery volume was 20,106 units.
Row 10: In May 2024, the delivery volume was 18,616 units.
Row 11: In April 2024, the delivery volume was 16,089 units.
Row 12: In March 2024, the delivery volume was 13,012 units.
Row 13: In February 2024, the delivery volume was 7,510 units.
Row 14: In January 2024, the delivery volume was 12,537 units. Including 14,039 company brand vehicles and 17,238 Lynk & Co brand vehicles following the completion of the Lynk & Co acquisition in February 2025. [Table Level]
- Table Title: Consolidated Balance Sheets as of December 31, 2023 and 2024
- Table Summary: This table presents the consolidated balance sheets for company Intelligent Technology Holding Limited, detailing the accounting figures as of December 31, 2023, and 2024 in RMB, with an additional column converting 2024 figures into USD. It reflects current liabilities and shareholder's deficit with various financial data points compared across the two years.
- Context: The data comes from company's combined and consolidated financial statements, with amounts given in thousands, except for share and per share data. This table is part of a broader financial summary covering multiple years of operation.
- Special Notes: The currency in the table switches from RMB for 2023 and 2024 to USD for 2024, with a note (Note 2(d)) for further clarification.

[Row Level]
Row 1: As of December 31, 2024, company Intelligent Technology Holding Limited had RMB 30,300 and the equivalent of USD 4,151 in this specific financial line item. There is no corresponding figure for December 31, 2023.
Row 2: The line item recorded RMB 4,104,717 for 2023 and slightly decreased to RMB 4,072,312 in 2024. In USD, this amount was 557,904 for 2024.
Row 3: In 2023, company Intelligent Technology Holding Limited reported RMB 5,504,945, which significantly increased to RMB 12,990,599 in 2024. The corresponding amount in USD for 2024 was 1,779,705.
Row 4: For 2023, the account held RMB 16,355,902, whereas in 2024, it reported a decrease to RMB 14,509,628. The USD equivalent for 2024 was 1,987,811.
Row 5: RMB 108,083 was noted in 2023, and this amount reduced to RMB 60,856 in 2024. The equivalent in USD for 2024 was 8,337.
Row 6: As of December 31, 2023, an amount of RMB 6,243,956 was recorded, increasing to RMB 8,478,772 in 2024, with the USD equivalent being 1,161,587.
Row 7: The total for these line items for 2023 was RMB 32,317,603, rising to RMB 40,142,467 in 2024, with the USD figure for 2024 being 5,499,495.
Row 8: There was no figure for 2023, but 2024 recorded RMB 414,180 and USD 56,742 in this line item.
Row 9: The 2023 value was RMB 1,807,159, reduced to RMB 1,491,486 in 2024. This amount in USD for 2024 was 204,333.
Row 10: An amount of RMB 1,100,000 was listed for 2023, with no corresponding 2024 or USD equivalent.
Row 11: The line item read RMB 563,001 in 2023, increasing to RMB 718,164 in 2024, with the USD equivalent being 98,388.
Row 12: In 2023, the figure was RMB 8,337, and it rose to RMB 57,252 in 2024. The USD equivalent was 7,843 for 2024.
Row 13: The total for these line items was RMB 3,478,497 for 2023, decreasing to RMB 2,681,082 in 2024, with the USD for 2024 equating to 367,306.
Row 14: The grand total for all items was RMB 35,796,100 in 2023, increasing to RMB 42,823,549 in 2024, with the USD equivalent for 2024 being 5,866,801. ```
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``` [Table Level]
- Table Title: Loss per Share Analysis for the Years Ended December 31, 2022, 2023, and 2024
- Table Summary: This table presents the financial outcomes related to the company's net loss per share for the fiscal years 2022, 2023, and 2024. It details figures for net losses from consolidated entities, net income attributable to non-controlling interests, and the net losses attributable to ordinary shareholders. Additionally, it demonstrates the weighted average number of shares and calculates both basic and diluted net loss per share.
- Context: The context discusses significant financial activities of the Group, including related party transactions and loans, along with their completion and outstanding balances. It also explains the net loss from consolidated entities and provides background on excluded share units and preferred shares affecting net loss per share calculations.
- Special Notes: The amounts are presented in thousands; share data and per share data use specific formatting. The negative values indicate net losses.

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

[Row Level]
Row 1: In February 2024, company 001 reached a delivery volume of 7,510 units.
Row 2: January 2024 saw a delivery volume of 12,537 units for company 001.
Row 3: December 2023 experienced a delivery volume of 13,476 units, showcasing sustained growth.
Row 4: During November 2023, the delivery volume for company 001 was noted at 13,104 units.
Row 5: October 2023 marked a delivery volume of 13,077 units for company 001.
Row 6: In September 2023, company 001 recorded a delivery volume of 12,053 units.
Row 7: August 2023 had a delivery volume of 12,303 units for the company 001.
Row 8: July 2023's delivery volume for the company 001 stood at 12,039 units.
Row 9: June 2023 showed a delivery figure of 10,620 units for company 001.
Row 10: In May 2023, the delivery volume reached 8,678 units for company 001.
Row 11: April 2023 accounted for a delivery volume of 8,101 units of company 001.
Row 12: March 2023 registered a delivery volume of 6,663 units for company 001.
Row 13: February 2023 documented a delivery volume of 5,455 units for company 001.
Row 14: January 2023 started with a delivery volume of 3,116 units for company 001. The company is strategically focused on the design, engineering, development, and sales of premium battery electric vehicles (BEVs) featuring cutting-edge technology, drivability, and user experience. The company leverages extensive research and development (R&D) capabilities, deep industry know-how, and synergies with Geely Group to tap into China’s massive, fast-growing premium BEV segment with great market potential. According to Frost & Sullivan, the sales volume of premium BEVs in China is expected to increase from 666.4 thousand units in 2024 to 2,607.6 thousand units in 2028 at a compound annual growth rate (CAGR) of 40.6%. For details of the growth trend of premium BEV sales in China, see “Industry Overview — China NEV and BEV Market Overview.” In 2021, the company released and started to deliver its first mass-produced premium battery electric vehicle (BEV) model. The company released an upgraded version of this model (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched its second vehicle model and started delivery in January 2023. In April 2023, the company released its compact SUV model and began to deliver it in June 2023. The company also started to deliver another model in November 2023. In January 2024, the company started to deliver its first upscale sedan model. Going forward, the company plans to offer an expanded product portfolio to meet varied customer demands and preferences. For instance, the company plans to launch vehicles for next generation mobility lifestyle. The company is a market player with a China focus and global aspirations. Currently, the company mainly markets and sells its products in China, the largest BEV market globally in 2023, according to Frost & Sullivan. The company has started to deliver ZEEKR 001 in Europe in December 2023. In the future, the company also plans to supply vehicles for the Waymo One Fleet in the United States. For details of the company's plan to increase its global footprint, see “— Our Growth Strategies.” As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. [Table Level]
- Table Title: Vehicle Delivery Volumes
- Table Summary: The table lists the monthly delivery volumes of vehicles over a span of two years—2023 and the beginning of 2024. It highlights the progression of delivery volumes, giving insights into the company's growth in vehicle distribution.
- Context: The company is focused on expanding its global footprint, with significant deliveries in China, the largest BEV market. The company has started delivering vehicles in Europe and plans further expansion in the United States.
- Special Notes: Delivery volumes are presented in units. 2024 figures show data only until March.

[Row Level]
Row 1: In March 2024, the company delivered 13,012 units of its vehicles.
Row 2: February 2024 saw a delivery volume of 7,510 units.
Row 3: January 2024 registered a delivery of 12,537 units.
Row 4: During December 2023, the company achieved its highest delivery volume for that year with 13,476 units.
Row 5: November 2023 experienced a delivery volume of 13,104 units.
Row 6: In October 2023, the company's delivery volume was 13,077 units, coinciding with a notable milestone of delivering over 10,000 units in a month.
Row 7: September 2023 had a delivery volume of 12,053 units.
Row 8: August 2023 deliveries amounted to 12,303 units.
Row 9: In July 2023, the company delivered 12,039 units.
Row 10: June 2023 recorded deliveries totaling 10,620 units.
Row 11: For May 2023, the company's delivery volume was 8,678 units.
Row 12: April 2023 saw deliveries of 8,101 units.
Row 13: March 2023 had a delivery volume of 6,663 units.
Row 14: February 2023 recorded deliveries of 5,455 units.
Row 15: The delivery volume in January 2023 was 3,116 units. [Table Level]
- Table Title: Revenue Disaggregation by Major Sources
- Table Summary: The table disaggregates revenue of the company into major sources over two six-month periods ending June 30 in 2022 and 2023. It breaks down revenue across categories like vehicle sales, sales of batteries and other components, and research and development services.
- Special Notes: All amounts are presented in thousands of RMB. The underline formatting indicates total sums.

[Row Level]
Row 1: For the six months ended June 30, 2022, vehicle sales generated revenue of RMB 5,296,678, whereas for the corresponding period in 2023, the revenue increased significantly to RMB 13,175,373.
Row 2: Sales of batteries and other components earned the company RMB 3,150,722 in the first half of 2022, which rose to RMB 7,365,776 for the same period in 2023.
Row 3: Revenue from research and development services, along with other services, was RMB 564,836 in the first half of 2022 and slightly increased to RMB 728,933 in the first half of 2023.
Row 4: The total revenue for the six months ended June 30, 2022, was RMB 9,012,236, while for the same period in 2023, the total revenue saw a notable increase to RMB 21,270,082. [Table Level]
- Table Title: Revenue for the Six Months Ended June 30, 2022 and 2023
- Table Summary: The table presents the revenue figures for company Intelligent Technology Holding Limited for the six-month periods ending June 30, for the years 2022 and 2023. The revenues are broken down into two components for each period, and then summed to a total amount.
- Context: Prior to the table, the text discusses the distribution preferences for Series Pre-A Preferred Shares before ordinary shares. After the table, further details surrounding company Intelligent Technology Holding Limited’s financial notes and share-based compensation plan are provided.
- Special Notes: All amounts are presented in RMB (Renminbi), and the numbers are shown in thousands.

[Row Level]
Row 1: For the six months ending June 30, 2022, revenue components amounted to RMB 8,998,096 and RMB 14,140, resulting in a total revenue of RMB 9,012,236.
Row 2: For the six months ending June 30, 2023, revenue components were RMB 21,220,056 and RMB 50,026, leading to a total revenue of RMB 21,270,082. The company is strategically focused on the design, engineering, development, and sales of premium battery electric vehicles (BEVs) featuring cutting-edge technology, drivability, and user experience. The company leverages extensive research and development capabilities, deep industry know-how, and synergies with Geely Group to tap into China’s massive, fast-growing premium BEV segment with great market potential. According to Frost & Sullivan, the sales volume of premium BEVs in China is expected to increase from 666.4 thousand units in 2024 to 2,607.6 thousand units in 2028 at a compound annual growth rate (CAGR) of 40.6%. For details of the growth trend of premium BEV sales in China, see “Industry Overview — China NEV and BEV Market Overview.” In 2021, the company released and started to deliver the ZEEKR 001, its first mass-produced premium battery electric vehicle (BEV) model. The company released an upgraded version of the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched its second vehicle model, the ZEEKR 009, and started delivery in January 2023. In April 2023, the company released the ZEEKR X, its compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023. In January 2024, the company started to deliver its first upscale sedan model. Going forward, the company plans to offer an expanded product portfolio to meet varied customer demands and preferences. For instance, the company plans to launch vehicles for next generation mobility lifestyle. The company is a market player with a China focus and global aspirations. Currently, the company mainly markets and sells its products in China, the largest BEV market globally in 2023, according to Frost & Sullivan. The company has started to deliver the ZEEKR 001 in Europe in December 2023. In the future, the company also plans to supply vehicles for the Waymo One Fleet in the United States. For details of the company's plan to increase its global footprint, see “— Our Growth Strategies.” As of December 31, 2023, the company delivered a total of 196,633 ZEEKR vehicles since the company's first vehicle delivery in October 2021, including 192,441 delivered in China. This is among the fastest delivery growth in the premium BEV market in China, according to Frost & Sullivan. [Table Level]
- Table Title: Monthly Delivery Volumes of Company Vehicles
- Table Summary: This table presents the monthly delivery volumes of company vehicles from January 2023 to April 2024. It showcases the steady growth and fluctuations in the number of vehicles delivered each month, highlighting significant deliveries within the premium battery electric vehicle (BEV) market.
- Context: The table follows a description of the company's rapid growth in vehicle deliveries, particularly in China, where the company significantly impacts the premium BEV market. The context emphasizes the company's success and plans for future expansions in Europe and the United States.
- Special Notes: Delivery volumes are measured in units. The information reflects the company's position as a fast-growing company in the BEV sector.

[Row Level]
Row 1: In April 2024, the company delivered 16,089 vehicles, marking one of the highest monthly delivery volumes in the time period shown.
Row 2: March 2024 saw a delivery of 13,012 company vehicles.
Row 3: February 2024 had a delivery volume of 7,510 company vehicles.
Row 4: In January 2024, the company delivered 12,537 vehicles.
Row 5: December 2023 recorded a delivery of 13,476 company vehicles.
Row 6: During November 2023, the company delivered 13,104 vehicles.
Row 7: October 2023 deliveries totaled 13,077 company vehicles.
Row 8: The company delivered 12,053 vehicles in September 2023.
Row 9: August 2023 saw a delivery of 12,303 company vehicles.
Row 10: In July 2023, 12,039 company vehicles were delivered.
Row 11: The delivery volume in June 2023 was 10,620 company vehicles.
Row 12: May 2023 observed a delivery of 8,678 company vehicles.
Row 13: April 2023 had a delivery of 8,101 company vehicles.
Row 14: During March 2023, the company delivered 6,663 vehicles.
Row 15: February 2023 recorded a delivery of 5,455 company vehicles.
Row 16: In January 2023, the company delivered 3,116 vehicles. The company's gross profit from the ZTE segment increased from RMB265.1 million to RMB501.7 million (US$68.7 million), and the gross profit margin increased from 11.7% to 21.3% in 2023 and 2024, respectively. The increase in both gross profit and gross profit margin can be attributed to the increased sales of research and development services to related parties. Balance as of January 1, 2023  
Issuance of preferred shares  
Net loss  
Share-based compensation  
Foreign currency translation adjustment  
Balance as of December 31, 2023 [Table Level]
- Table Title: company Intelligent Technology Holding Limited - Statement of Changes in Shareholders' Deficit for the Year Ended December 31, 2023
- Table Summary: This table outlines the changes in shareholders' deficit for company Intelligent Technology Holding Limited for the year ending December 31, 2023. Key elements include share counts, amounts in RMB for ordinary and preferred shares, additional paid-in capital, accumulated deficit, other comprehensive income, and portions attributed to non-controlling interest.
- Context: The statements presented are integral parts of combined and consolidated financial information, focusing on changes in shareholders’ deficit. Yearly adjustments are captured in this table, contributing to a comprehensive financial overview.
- Special Notes: All financial data is presented in RMB and amounts are stated in thousands. Footnotes specify that details such as share counts and per share data are exceptions to this notation.

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

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

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

Row 4: At table's end on December 31, 2023, the ordinary share count remained at 2,000,000,000 continuing with an evaluation of 2,584 RMB. Preferred share count ended at 265,846,254 with a final valuation of 362 RMB. The total additional paid-in capital finalized at 11,213,798 RMB, while accumulated deficit reached 20,865,686 RMB. Accumulated other comprehensive income settled at 17,555 RMB. company Intelligent Technology Holding Limited's company deficit totaled 9,631,387 RMB, with non-controlling interest at 952,787 RMB. The cumulative total shareholders' deficit ended at 8,678,600 RMB. [Table Level]  
- Table Title: Changes in Shareholders' Deficit for company Intelligent Technology Holding Limited  
- Table Summary: The table details the changes in the shareholders' deficit for company Intelligent Technology Holding Limited over the year ending December 31, 2024. It provides information on ordinary shares, preferred shares, treasury shares, additional paid-in capital, accumulated deficit, and shareholder interests, among other metrics. The data illustrates adjustments due to share issuance, conversion, net losses, and other compensatory actions.  
- Context: This table continues from prior statements outlining changes in shareholders' deficit for company Intelligent Technology Holding Limited from the start of 2024. It is accompanied by notes that are part of company Intelligent Technology Holding Limited's consolidated financial statements and precedes similar financial statements for cash flows through 2022 to 2024.  
- Special Notes: All financial amounts are presented in RMB and the amounts are listed in thousands, excluding share and per-share data. Specific financial transactions such as IPOs and currency adjustments are marked throughout.  

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

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

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

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

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

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

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

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

Final Row: As of December 31, 2024, 2,541,971,138 ordinary shares remain outstanding, valued at RMB 3,361 along with total treasury shares totaling 10,930,530 in number with RMB 10,930,530. This concluded the year with an additional paid-in capital recorded as RMB 15,757,089, while accumulated deficits sum to RMB (186,812), and total shareholders’ deficit now holds at RMB (10,152,829). [Table Level]
- Table Title: company Intelligent Technology Holding Limited Condensed Statements of Operations and Comprehensive Loss
- Table Summary: The table provides a detailed breakdown of the financial performance of company Intelligent Technology Holding Limited for the years ending December 31, 2021, 2022, and 2023, including losses from operations, interest income, income before income tax, and comprehensive loss. Data is presented in thousands, excluding per share data unless noted otherwise.
- Context: Prior to this table, the document indicates there have been no subsequent events requiring changes to the financial statements as of March 20, 2024. Following the table, there are sections on cash flow statements and notes to financial statements which elucidate regulatory compliance and financial disclosure requirements.
- Special Notes: Amounts are in thousands and exclude share and per share data unless noted. Negative values indicate losses or expenses.

[Row Level]
Row 1: For 2021, the general and administrative expenses are not specified; for 2022, they were $1,800 thousand; in 2023 they reached $11,237 thousand, and for 2024 they decreased to $1,583 thousand.
Row 2: In 2021, the loss from operations is not given; estimated at $1,800 thousand in 2022, $11,237 thousand in 2023, and $1,583 thousand in 2024.
Row 3: In 2021, interest income was $2,240 thousand, rising to $6,268 thousand in 2022, $25,513 thousand in 2023, and declining to $3,593 thousand in 2024.
Row 4: Other (expenses) income, net was $(152) thousand in 2021 and changed to $1,826 thousand in 2022, $54,782 thousand in 2023, and $7,716 thousand in 2024.
Row 5: Income before income tax expense in 2021 was $2,088 thousand, increased to $6,294 thousand in 2022, $69,058 thousand in 2023, and further increased to $9,726 thousand in 2024.
Row 6: Equity in loss of subsidiaries was $(4,364,657) thousand for 2021, $(7,940,073) thousand in 2022, $(8,416,038) thousand in 2023, and $(1,185,374) thousand in 2024.
Row 7: Net loss for 2021 was $(4,362,569) thousand, decreased to $(7,933,779) thousand by 2022, $(8,346,980) thousand in 2023, and $(1,175,648) thousand in 2024.
Row 8: Other comprehensive (loss) income, net of tax of nil was $(103,405) thousand in 2021; increased to $14,556 thousand in 2022, $49,765 thousand in 2023, before decreasing to $7,009 thousand in 2024.
Row 9: The foreign currency translation adjustment, net tax of nil in 2021 was $(103,405) thousand; changed to $14,556 thousand in 2022, $49,765 thousand in 2023, and was $7,009 thousand in 2024.
Row 10: Total other comprehensive (loss) income in 2021 was $(103,405) thousand, increasing to $14,556 thousand by 2022, $49,765 thousand in 2023, and down to $7,009 thousand in 2024.
Row 11: Total comprehensive loss in 2021 was $(4,465,974) thousand, changing to $(7,919,223) thousand in 2022, $(8,297,215) thousand in 2023, and reducing to $(1,168,639) thousand in 2024. [Table Level]
- Table Title: Reconciliation of PRC Statutory Income Tax Rate to company's Effective Income Tax Rate
- Table Summary: The table displays the reconciliation of the differences between the PRC statutory income tax rate and company's effective income tax rate for the fiscal years ending December 31, 2022, 2023, and 2024. It breaks down various factors contributing to the final effective tax rate each year.
- Context: The context provided before the table discusses the tax expenses for different years and explains the statutory tax rates, additional deductions, and rates applicable in different jurisdictions, which are reconciled in the table. After the table, it describes particulars about income tax expenses and deferred tax details.
- Special Notes: All values are expressed as percentages and represent effects on the effective income tax rate. The statutory income tax rate is consistently 25.0% across the years.

[Row Level]
Row 1: For the year ended December 31, 2022, the statutory income tax rate was 25.0%.
Row 2: There was a -0.8% impact due to non-deductible expenses in 2022.
Row 3: The additional tax deduction for qualified research and development expenses in 2022 contributed a positive impact of 0.9%.
Row 4: For 2022, there was no recorded impact for non-taxable income.
Row 5: The effect of preferential tax rates contributed 0.8% to company's effective income tax rate in 2022.
Row 6: In 2022, no impact was noted from changes in tax rates.
Row 7: The effect of being taxed in different jurisdictions contributed a small effect of 0.1% in 2022.
Row 8: A significant impact of -27.8% was made by changes in the valuation allowance in 2022.
Row 9: A small impact of 0.1% contributed to company's effective income tax rate under 'Others' for 2022.
Row 10: The effective income tax rate for 2022 after all adjustments was calculated as -1.7%.

Row 11: For the year ended December 31, 2023, the statutory income tax rate was 25.0%.
Row 12: Non-deductible expenses had a minor effect of -0.3% in 2023.
Row 13: The additional tax deduction for 2023 had a more significant positive impact of 1.7%.
Row 14: In 2023, non-taxable income contributed 0.4% to the tax rate.
Row 15: There was a negative effect of -0.3% due to a preferential tax rate in 2023.
Row 16: No effect from changes in tax rates was recorded in 2023.
Row 17: Different tax jurisdictions caused a -0.6% impact on the tax rate in 2023.
Row 18: Changes in the valuation allowance resulted in a reduced impact of -27.2% in 2023.
Row 19: The category 'Others' had a 0.5% positive effect on the tax rate for 2023.
Row 20: The overall effective income tax rate for 2023 stood at -0.8%.

Row 21: For the year ended December 31, 2024, the statutory income tax rate remained 25.0%.
Row 22: The effect of non-deductible expenses diminished to -1.3% in 2024.
Row 23: A significant increase in additional tax deductions was noted with a 5.0% impact in 2024.
Row 24: Non-taxable income resulted in an impact of 0.8% in 2024.
Row 25: A notable negative impact of -11.1% came from the preferential tax rate in 2024.
Row 26: Changes in tax rates had a substantial reduction effect of -20.4% in 2024.
Row 27: The tax rate effect in different jurisdictions was marginally positive at 0.1% in 2024.
Row 28: Changes in the valuation allowance contributed 0.7% to the tax rate in 2024.
Row 29: The 'Others' category recorded a -1.9% effect on the tax rate for 2024.
Row 30: For 2024, the effective income tax rate was -3.1%, post adjustments. [Table Level]  
- Table Title: Inventories from Combined and Consolidated Financial Statements  
- Table Summary: This table presents the inventory composition in RMB (thousands) for the years 2023 and 2024. It details the amount held in different inventory categories, such as raw materials and work in progress, as well as finished products, including vehicles and batteries.  
- Context: The inventories discussed include raw materials, work in progress, and finished products, primarily made up of vehicles and batteries. These inventories are essential to the production cost and after-sales services.  
- Special Notes: All values are expressed in thousands of RMB currency. The table sections correspond to different inventory categories.  

[Row Level]  
Row 1: In 2023, the inventory value for raw materials was RMB 733,069, whereas in 2024, the inventory value was RMB 343,913.  
Row 2: The work in progress inventory amounted to RMB 40,142 in 2023 and increased to RMB 121,831 in 2024.  
Row 3: Finished products inventory totaled RMB 1,695,882 in 2023 and increased to RMB 2,178,197 in 2024.  
Row 4: The inventory for vehicles reached RMB 2,696,976 in 2023, decreasing significantly to RMB 1,290,617 in 2024.  
Row 5: For batteries and other components, the inventory was RMB 62,620 in 2023 and rose to RMB 216,184 in 2024.  
Row 6: The total inventory value was RMB 5,228,689 in 2023, which decreased to RMB 4,150,742 in 2024. The development and sales of battery electric vehicles (BEVs) is the company's business focus and contribute to an increasing portion of the company's revenue since the launch of the ZEEKR 001, the company's first mass-produced BEV model. The company released the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched the second vehicle model, ZEEKR 009, and started to deliver the ZEEKR 009 to customers in January 2023. In April 2023, the company released the ZEEKR X, the company's compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023 and began to deliver the company's first upscale sedan model in January 2024. In April 2024, the company launched the ZEEKR 009 Grand, a luxury version of the ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released the ZEEKR MIX, the company's MPV model, in the same month. Going forward, the company targets to roll out an expanded product portfolio, including but not limited to robotaxis, to meet various customer demands and preferences. The company is working with Waymo, a leader in Level 4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. The development and sales of battery electric vehicles (BEVs) is the company's business focus and contribute to an increasing portion of the company's revenue since the launch of the ZEEKR 001, the company's first mass-produced BEV model. The company released the ZEEKR 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. In November 2022, the company launched the second vehicle model, ZEEKR 009, and started to deliver the ZEEKR 009 to customers in January 2023. In April 2023, the company released the ZEEKR X, the company's compact SUV model, and began to deliver the ZEEKR X in June 2023. The company also started to deliver the ZEEKR 001 FR in November 2023 and began to deliver the company's first upscale sedan model in January 2024. In April 2024, the company launched the ZEEKR 009 Grand, a luxury version of the ZEEKR 009 featuring enhanced safety, privacy, and intelligence. The company also released the ZEEKR MIX, the company's MPV model, in the same month. Going forward, the company targets to roll out an expanded product portfolio, including but not limited to robotaxis, to meet various customer demands and preferences. The company is working with Waymo, a leader in Level 4 autonomous driving technology, to supply vehicles for the Waymo One Fleet. [Table Level]
- Table Title: Related Party Transactions and Balances
- Table Summary: This table presents the financial transactions and balances between the company and its related parties for the fiscal years ending December 31, 2022, 2023, and 2024. The table categorizes interactions by the nature of the transaction, specifically focusing on vehicle sales, research and development and other services, and sales of batteries and components.
- Context: The principal related parties involved with the company include Geely Automobile Holdings and its subsidiaries and affiliates. The context before and after indicates the focus on significant related party transactions, categorizing these based on the nature of the transaction and the entities involved.
- Special Notes: All amounts are presented in thousands of RMB. The amounts reveal monetary exchanges between the company and its related parties, detailing revenue generated from specific transactions.

[Row Level]
Row 1: In 2022, the company's revenue from vehicle sales to Geely Holding was RMB 1,350, which increased to RMB 5,234 in 2023 and decreased to RMB 698 in 2024.
Row 2: Revenue from vehicle sales to subsidiaries of Geely Auto was RMB 2,649 in 2022, increasing to RMB 5,072 in 2023 and rising substantially to RMB 120,438 in 2024.
Row 3: Revenues from subsidiaries of Geely Holding were RMB 6,030 in 2022, escalating to RMB 18,488 in 2023 and slightly declining to RMB 2,658 in 2024.
Row 4: Affiliates of Geely Holding contributed RMB 28 in 2022, surged to RMB 60,631 in 2023, and amounted to RMB 25,517 in 2024 for vehicle sales.
Row 5: Vehicle sales to entities controlled by ultimate shareholders yielded RMB 44,539 in 2022, decreased significantly to RMB 3,674 in 2023, and further decreased to zero in 2024.
Row 6: In 2024, RMB 1,049,299 was generated from affiliates of entities controlled by ultimate shareholders, with no revenue in the preceding years.
Row 7: Equity investees of the company contributed RMB 249 in 2022, RMB 2,200 in 2023, with no revenue in 2024.
Row 8: The total revenue from vehicle sales was RMB 54,845 in 2022, RMB 95,299 in 2023, and considerably increased to RMB 1,198,610 in 2024.

Row 9: Research and development and other services provided to Geely Auto resulted in RMB 141 in 2024, with no revenue in previous years.
Row 10: Revenue from Geely Holding was RMB 156 in 2022, which drastically increased to RMB 363,181 in 2023 and then slightly increased to RMB 168,054 in 2024 for such services.
Row 11: Subsidiaries of Geely Auto contributed RMB 7,755 in 2022, declining to RMB 1,776 in 2023 and then rising to RMB 163,522 in 2024 for these services.
Row 12: Affiliates of Geely Auto generated substantial revenue of RMB 87,020 in 2022, surging to RMB 522,292 in 2023, and decreased to RMB 657,308 in 2024.
Row 13: Subsidiaries of Geely Holding were major contributors with RMB 1,636,799 in 2022, increasing to RMB 2,082,185 in 2023 and reducing to RMB 1,447,201 in 2024 from these services.
Row 14: Affiliates of Geely Holding provided RMB 19,598 in 2022, rising to RMB 50,526 in 2023, and reaching RMB 343,084 in 2024.
Row 15: Revenue from entities controlled by ultimate shareholders was RMB 3,660 in 2022, dropping to RMB 1,608 in 2023 and reaching zero in 2024.
Row 16: Affiliates of entities controlled by ultimate shareholders recorded RMB 330 in 2022, increased to RMB 268 subsequently in 2023, and significantly rose to RMB 7,270 in 2024.
Row 17: Equity investees of the company contributed RMB 1,756 in 2022 for research and development and other services, absent for the remaining years.
Row 18: Aggregate revenue for these services summed to RMB 1,757,074 in 2022, RMB 3,021,836 in 2023, with a slight decrease to RMB 2,786,580 in 2024.

Row 19: From sales of batteries and components, subsidiaries of Geely Auto provided RMB 1,802,779 in 2022, increasing steadily to RMB 3,262,575 in 2023 and slightly decreasing to RMB 2,077,267 in 2024.
Row 20: Affiliates of Geely Auto generated RMB 1,663,519 in 2022, rising significantly to RMB 2,730,324 in 2023 and continued to grow to RMB 6,422,130 in 2024.
Row 21: Subsidiaries of Geely Holding were the largest contributors with RMB 6,410,920 in 2022, increasing to RMB 8,435,631 in 2023 and expanding to RMB 7,990,028 in 2024.
Row 22: Affiliates of Geely Holding accounted for RMB 26,260 in 2024, compared to zero in previous years.
Row 23: Entities controlled by ultimate shareholders provided RMB 256,155 in 2022 and zero in subsequent years, except for RMB 14,743 in 2024.
Row 24: Equity investees of the company generated RMB 102,490 in 2022 for the sales of batteries and steadily provided RMB 117 in 2023 and RMB 8 in 2024.
Row 25: The total revenue from sales of batteries and other components summed to RMB 10,235,863 in 2022, with growth to RMB 14,454,853 in 2023 and RMB 16,663,804 in 2024. The company made capital expenditures of RMB919.5 million, RMB1,913.4 million, and RMB1,715.4 million in 2022, 2023, and 2024, respectively. In these periods, the company's capital expenditures were used primarily for property, plant, and equipment, as well as facilities related to sales and marketing activities. Going forward, the company expects to make capital expenditures primarily on properties and manufacturing facilities related to Ningbo Viridi and leasehold improvements for retail stores. Other than what has been included in the capital commitments and contractual obligations discussed below, the company does not expect to incur material costs to accomplish these goals. It is difficult to predict what further trade-related actions the United States or other governments may take, and the company may be unable to quickly and effectively react to or mitigate such actions. In addition, growth in popularity of battery electric vehicles (BEVs) without a corresponding and significant expansion in production capacity for semiconductor chips and battery cells could result in shortages and increased materials costs to the company. Any attempts by the company to increase its end product prices in response to supply interruptions could result in a decrease in sales and therefore materially and adversely affect the company's brand, image, business, prospects, and operating results.