Does Zeekr use a VIE structure?
The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) Zeekr Technology Europe AB (“CEVT”). Under the leadership of our co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR Intelligent Technology was incorporated as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as the company's holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. The company began as a business unit within Geely Auto in October 2017. Under the leadership of co-founders Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, the company incorporated ZEEKR Intelligent Technology as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as its holding company. In April 2021, the company Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, the company Technology, currently a wholly-owned subsidiary of the company Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, the company 001, and started delivery from October 2021. Subsequently, the company commenced deliveries of various upgraded models, including but not limited to the company 001 FR in October 2023 and upgraded the company 001 in February 2024. In July 2021, ZEEKR Shanghai acquired a 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. In July 2021, Zhejiang ZEEKR was incorporated in the People's Republic of China and is currently a wholly-owned subsidiary of the company Innovation. In August 2021, the company Innovation acquired a 100% equity interest in ZEEKR Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, the company acquired a 51% equity interest in Ningbo Viridi, which was previously wholly-owned by Geely Holding. In February 2022, the company Innovation acquired a 100% equity interest in the company Tech EU from Geely Holding. The company began as a business unit within Geely Auto in October 2017. The company conducts its business primarily through the following entities: (i) ZEEKR Automobile (Shanghai) Co., Ltd. (“ZEEKR Shanghai”), (ii) ZEEKR Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. (“ZEEKR Hangzhou Bay”), (iii) Viridi E-Mobility Technology (Ningbo) Co., Ltd. (“Ningbo Viridi”) and (iv) Zeekr Technology Europe AB (“CEVT”). Under the leadership of our co-founders, Mr. Shufu Li, Mr. Conghui An, Mr. Donghui Li, and Mr. Shengyue Gui, ZEEKR incorporated ZEEKR Intelligent Technology as an exempted company with limited liability in March 2021 under the law of the Cayman Islands to act as its holding company. The company is seeking to list separately from Geely Auto because of its different brand positioning and its operational, management, and financial independence. The company has an equity story built around its premium brand, product portfolio, and future plans that is better served by operating independently and seeking a separate listing, which the company believes will allow it to establish its own profile and attract different investors. In April 2021, ZEEKR Innovation, currently a wholly-owned subsidiary of ZEEKR Intelligent Technology, was incorporated under the laws of the British Virgin Islands. In the same period, ZEEKR Technology, currently a wholly-owned subsidiary of ZEEKR Innovation, was incorporated under the laws of Hong Kong. In April 2021, the company announced the launch of its first BEV model, ZEEKR 001, and started delivery from October 2021. In July 2021, ZEEKR Shanghai acquired 100% equity interest in ZEEKR Hangzhou Bay from Geely Holding. The following diagram illustrates the company's corporate structure, including the company's principal subsidiaries, as of the date of this prospectus. Certain entities that are immaterial to the company's results of operations, business, and financial condition are omitted. (1) Company Technology Europe AB, or CEVT, was founded in 2013 in Sweden as an indirect subsidiary of Geely Holding and as an innovation center engaging in the R&D of software systems and modular and virtual engineering for NEV. CEVT offers its services to several auto brands under Geely Holding. In July 2021, the company entered into an acquisition agreement with Zhejiang Geely, a subsidiary of Geely Holding, pursuant to which the company agreed to acquire 100% equity interests in CEVT from Zhejiang Geely. Upon the completion of this acquisition on February 1, 2022, CEVT became the company's wholly-owned subsidiary. CEVT started to generate revenue in July 2013. (2) In July 2021, Company Automobile (Shanghai) Co., Ltd., or Company Shanghai, acquired 100% equity interest in Company Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd., or Company Hangzhou Bay, from Geely Holding. In August 2021, Company Shanghai acquired 100% equity interest in Company Shanghai (99% from Geely Auto and 1% from Geely Holding). (3) Viridi E-Mobility Technology (Ningbo) Co., Ltd., or Ningbo Viridi, was founded in 2017 as an indirect wholly-owned subsidiary of Geely Holding and is engaged in the R&D and production of key NEV components, including electric powertrains and battery packs. In July 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. from Geely Holding. In July 2021, company Automobile (Shanghai) Co., Ltd. was incorporated in the PRC, and is currently a wholly-owned subsidiary of company Technology. In August 2021, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in company Shanghai (99% from Geely Auto and 1% from Geely Holding). In October 2021, company Automobile (Shanghai) Co., Ltd. acquired 51% equity interest in Ningbo Viridi, which was previously wholly owned by Geely Holding. In February 2022, company Automobile (Shanghai) Co., Ltd. acquired 100% equity interest in CEVT from Geely Holding. company Automobile (Shanghai) Co., Ltd. currently holds 100% equity interest in CEVT through Zhejiang company. In November 2022, company Automobile (Shanghai) Co., Ltd. launched its second BEV model, company 009, and started delivery in January 2023. In April 2023, company Automobile (Shanghai) Co., Ltd. released the company X, its compact SUV model, and began to deliver the company X in June 2023. As of June 30, 2023, cumulatively company Automobile (Shanghai) Co., Ltd. had delivered a total of 120,581 units of company vehicles, which is among the fastest delivery rates in the premium BEV market in China from October 2021 to June 2023, according to Frost & Sullivan. Company Innovation currently holds a 100% equity interest in Company Tech EU through Zhejiang ZEEKR. In November 2022, company launched its second BEV model, company 009, and started delivery in January 2023. Company later launched and started the delivery of company 009 Grand, a luxury version of company 009 featuring enhanced safety, privacy, and intelligence, in May 2024. In April 2023, company launched the company X, its compact SUV model, and began to deliver the company X in June 2023. In January 2024, company started to deliver its first upscale sedan model targeting tech-savvy adults and families. In May 2024, company Innovation completed an initial public offering and was listed on the New York Stock Exchange under the symbol “ZK.” In June 2024, company officially expanded its presence into the Southeast Asia market. In September 2024, company officially unveiled and began the delivery of its premium electric five-seater SUV, the company 7X. In October 2024, company officially launched and commenced deliveries of the company MIX. [Table Level]  
- Table Title: Entities involved in the company's corporate structure  
- Table Summary: The table lists the key entities under the company Intelligent Technology Holding Limited's corporate structure, detailing their names, places of incorporation, and principal activities. Each entity plays a distinct role in the broader business landscape of electric vehicle production, investment, and technology development.  
- Context: This table is part of the notes to the combined and consolidated financial statements for the company Intelligent Technology Holding Limited, highlighting the principal activities, history, and restructuring of the group's businesses.  
- Special Notes: The content is drafted as part of financial statement notes, emphasizing the business roles and geographical locations of the listed entities.  

[Row Level]  
Row 1: The company Automobile (Shanghai) Co., Ltd., formerly known as Shanghai Maple Guorun Automobile Company Ltd. ("the company Shanghai"), is incorporated in The People's Republic of China and functions as an investment holding company.  
Row 2: The company Automobile (Ningbo Hangzhou Bay New Zone) Co., Ltd. ("the company Hangzhou Bay") is incorporated in The People's Republic of China and is responsible for managing the production and commercialization of electric vehicles.  
Row 3: Viridi E-Mobility Technology (Ningbo) Co., Ltd. ("Ningbo Viridi") is incorporated in The People's Republic of China and specializes in the production and sales of electric powertrains and battery packs for electric vehicles.  
Row 4: China-Euro Vehicle Technology Aktiebolag ("CEVT") is incorporated in Sweden and is engaged in the provision of research and development services.
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 The company's self-developed electrical and electronic architecture, or $\mathrm { E / E }$ Architecture, is an integrated system that controls core vehicle functions relating to passenger comfort, convenience, and connectivity. This architecture converges electronics hardware, network communications, software applications, and wiring, enabling the vehicle body, security, infotainment, and other functionalities to be controlled through electronic components and software. Currently, the company's battery electric vehicles (BEVs) adopt ZEEA 2.0, an electrical and electronic (E/E) architecture enabling autonomous driving, connectivity, electrification, and smart mobility. The company develops ZEEA 2.0 and its core capabilities, such as the central electronic module (CEM) and gateway, through the company's in-house research and development capabilities, demonstrating the company's strong technological capabilities in terms of software development. The company's ZEEA 2.0 has the following key features and advantages. • DCU-controlled architecture. Through the company's ZEEA 2.0, the complicated vehicle functionalities are centralized into a couple of electronic units, each of which controls a specific area of the battery electric vehicles (BEVs), or a “domain.” The company refers to these units as “Domain Control Units,” or DCUs. Relying on the company's integration capability, the company uses as few as four DCUs to control the entire vehicle, namely the autonomous driving unit, cockpit unit, chassis unit, and electric drive unit. This not only greatly decreases the costs associated with software development and production, but also allows the company to continuously enhance vehicle performance through FOTA. • Efficient underpinning structure. 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). 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, and a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 009, and ZEEKR X. The company's current and future BEV models will define the company's success. • ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over $1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. • ZEEKR 009. The company is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation 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's self-developed electrical and electronic architecture, or $\mathrm { E / E }$ Architecture, is an integrated system that controls core vehicle functions relating to passenger comfort, convenience, and connectivity. This architecture converges electronics hardware, network communications, software applications, and wiring, enabling the vehicle body, security, infotainment, and other functionalities to be controlled through electronic components and software. Currently, the company's battery electric vehicles (BEVs) adopt ZEEA 2.0, an industry-leading electrical and electronic (E/E) architecture enabling autonomous driving, connectivity, electrification, and smart mobility. The company develops ZEEA 2.0 and its core capabilities, such as the central electronic module (CEM) and gateway, through its in-house research and development (R&D) capabilities, demonstrating strong technological expertise in terms of software development. The company's ZEEA 2.0 has the following key features and advantages: • DCU-controlled architecture. Through the company's ZEEA 2.0, the complicated vehicle functionalities are centralized into a couple of electronic units, each of which controls a specific area of the battery electric vehicles (BEVs), or a “domain.” The company refers to these units as “Domain Control Units,” or DCUs. Relying on the company's integration capability, the company uses as few as four DCUs to control the entire vehicle, namely the autonomous driving unit, cockpit unit, chassis unit, and electric drive unit. This not only greatly decreases the costs associated with software development and production but also allows the company to continuously enhance vehicle performance through FOTA. Efficient underpinning structure. 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. 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 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 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. 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. As a premium BEV brand incubated by Geely Group, the company inherits unique competitive edges from Geely Group that are developed through years of execution experience at the frontier of the industry, such as innovative and agile engineering capabilities, robust R&D capabilities, deep industry expertise, extreme attention to safety, top-notch professionals, strong supply chain and manufacturing management capabilities, and operational know-how. Geely Group’s powerful and world-class brand equity also echoes product innovation, performance, and reliability in its broad customer base, which, in turn, contributes to the significant consumer interest and demand for the brand. These competitive advantages enable the company to quickly incorporate customer needs and concepts into its products and manage the complex operation process to achieve the fast ramp-up of production and deliveries. The company also leverages Geely Group’s advanced and well-established manufacturing capacity, which helps retain effective oversight over key steps in procurement, manufacturing, and product quality control with minimal capital outlay. At the same time, the company's BEVs are manufactured in a factory owned and operated by Geely Holding, and Geely Holding was the company's largest supplier for 2022. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 15 Centers, 195 Spaces, 26 Delivery Centers, and 24 Houses as of December 31, 2022. In addition, the company closely interacts with customers through building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. Within the APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of lifestyle products, social interaction, and seamless communication with the customer services team. The company also holds a variety of offline customer events to nurture a vibrant user community. The company's customer engagement efforts enable the company to better understand customer needs to be incorporated into future product design and continuously strengthen customer loyalty and stickiness. Underpinned by the company's superior capability in supply chain and manufacturing planning and management, the company is also able to offer a wide range of customized options in terms of vehicle designs and functionalities, which are highly appreciated by its customers. The company has established a comprehensive charging network and provided hassle-free charging services through at-home charging solutions, on-the-road charging solutions, and 24/7 charging fleets. The ultra charging stations, in particular, provide users with an ultimate charging experience through the company's proprietary ultra-fast charging technology developed by Ningbo Viridi. As of December 31, 2022, there were 607 charging stations with different charging capabilities, including 200 ultra charging stations, 292 super charging stations, and 115 light charging stations, covering 113 cities in China, further supported by third-party charging stations that cover 336 cities in China with approximately 380 thousand charging piles in total. The company has established in-depth partnerships with a number of internationally renowned smart mobility companies, laying a solid foundation for the company's business development and global expansion. For example, the company collaborates with Mobileye, a subsidiary of Intel and one of the company's strategic investors, for consumer-ready autonomous driving solutions. The company and Waymo are collaborating on the development of a purpose-built TaaS vehicle built on the SEA-M platform which will be deployed in the United States over the coming years. Furthermore, the company has deep relationships with a range of leading suppliers, such as CATL, Bosch, and Aptiv. The company operates in a rapidly growing market with extensive potential. Driven by improving battery and smart technologies, supportive regulatory policies, and enhancement of charging infrastructure, China’s BEV market has substantial room for growth in both volume and BEV penetration. China’s BEV sales volume is expected to be more than quadrupled to 11.3 million units in 2026 from 2021, according to Frost & Sullivan. The premium BEV market is expected to experience even faster growth, almost increasing to five times the volume in 2021 by 2026, according to Frost & Sullivan. The European BEV market has significant size and growth potential, which is expected to reach 4.4 million units in sales volume in 2026, representing a CAGR of 29.4% from 2022 to 2026, according to Frost & Sullivan. In the future, the company also plans to tap into the BEV market in Europe and the robotaxi market in the United States. The company started to deliver its first model in October 2021. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,852.1 million) in 2021 and 2022, respectively, with a gross profit margin of 1.8% and 4.7%, respectively. In addition to vehicle sales, the company generated revenues from research and development services, as well as other services and sales of batteries and other components. The company's total revenue amounted to RMB6,527.5 million and RMB31,899.4 million (US$4,625.0 million) in 2021 and 2022, respectively, with a gross profit margin of 15.9% and 7.7%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,109.9 million) in 2021 and 2022, respectively. The company 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 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. The company's Electrical and Electronic Architecture (ZEEA) integrates hardware, network communications, software, and wiring, enabling seamless control of the vehicle body, security, infotainment, and other functions. The ZEEA enhances passenger comfort, convenience, and connectivity, as seen in the company's Mix model, which features mass-produced rotating front seats with seven theme modes and dynamic front lighting effects for interactive experiences. Currently, the company's ZEEA supports autonomous driving, connectivity, electrification, and smart mobility, developed entirely in-house, showcasing the company's strong software and technology expertise. The company's Electrical and Electronic Architecture (ZEEA) has the following key features and advantages. Domain-controlled and highly-integrated architecture. Through the company's Electrical and Electronic Architecture (ZEEA), the complicated vehicle functionalities are centralized into several electronic units, each of which controls a specific area of the vehicles, or a “domain.” The company refers to these units as “Domain Control Units,” or DCUs. Relying on the company's integration capability, the company uses as few as four DCUs to control the entire vehicle, namely the autonomous driving unit, cockpit unit, body unit, chassis unit, and electric drive unit. This not only greatly decreases the costs associated with software development and production, but also allows the company to continuously enhance vehicle performance through FOTA. Efficient underpinning structure. ZEEA is constructed upon FlexRay network and hundred-megabit Ethernet. This underpinning structure delivers a number of advantages to the company's ZEEA, such as convenient API-enabled upgrades and the ability to concurrently develop multiple battery electric vehicle (BEV) models. Equipped with the efficient power architecture, the company's ZEEA achieved a milestone in low-voltage energy consumption through the intelligent power distribution system in the company 009 Grand. ZEEA supports continuous upgrades, cloud integration, and aftermarket solutions, enabling seamless performance enhancements via FOTA. The company has debuted a cloud data platform on AWS and Alibaba Cloud, supporting logging, remote diagnostics, and data management, while the company Diagnostic System (ZDS) simplifies software maintenance and upgrades. Industry-certified for ISO26262 safety integrity by SGS (Europe) and UL (U.S.), ZEEA is widely recognized for its reliability. Looking ahead, the company plans to introduce a next-gen central computing platform architecture, featuring centralized computation and company Controllers (ZCs), built on proprietary technology stacks and company OS for enhanced efficiency and intelligent vehicle control. In November 2022, the company launched its second model, a luxury six-seater MPV model providing a comfortable, ultra-luxury mobility experience for both families and business uses. This model is the world’s first premium MPV based on a pure-electric platform, according to Frost & Sullivan. It has enjoyed wide popularity since launch, and the company started to deliver it to its customers in January 2023. In April 2023, the company released a compact SUV model featuring spacious interior design, advanced technology, and superior driving performance. The company began to deliver this model in June 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 sedan models targeting tech-savvy adults and families in the future, as well as vehicles for the next generation of 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 products and capabilities, the company has achieved a total delivery of 10,000 units of its first model 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. 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. 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 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 offers an intelligent cockpit to deliver interactive, immersive, and enjoyable driving experiences. To successfully achieve the company's mission, the company assembled a top-notch management team with diversified yet complementary backgrounds and experiences. The company's management team possesses entrepreneurial spirit, deep automotive and technology sector expertise along with customer-centric operation experience, which are essential to driving the company's future development. The company's co-founder and CEO Conghui An has over 25 years’ experience in multiple executive management positions in Geely Group and accumulated profound industry insights and senior management experience with an excellent track record. In addition to the company, Mr. An has successfully established, developed, and operated both Geely and Lynk&Co, two well-established vehicle brands of Geely Group. The company is guided by its customer-oriented principle to provide customers with service and experience in every aspect of their journey with the company. The company adopts a customer-oriented DTC sales model with a focus on innovative and interactive engagement with its customers. The company has established extensive customer touchpoints including 18 Centers, 219 Spaces, 29 Delivery Centers, and 40 Houses as of June 30, 2023. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. 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 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 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. In October 2022, the company delivered 10,119 units of ZEEKR 001 to the market, making ZEEKR 001 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 June 30, 2023, cumulatively the company had delivered a total of 120,581 units of ZEEKR vehicles, which is among the fastest delivery in the premium BEV market in China from October 2021 to June 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, 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 ZEEKR 009 with CATL’s latest Qilin battery, making ZEEKR 009 the first mass-produced BEV model equipped with Qilin battery, according to Frost & Sullivan. 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. The company's revenue from vehicle sales amounted to RMB1,544.3 million and RMB19,671.2 million (US$2,712.8 million) in 2021 and 2022, and RMB5,296.7 million and RMB13,175.4 million (US$1,817.0 million) in the six months ended June 30, 2022 and 2023, respectively, with a gross profit margin of 1.8%, 4.7%, 4.7%, and 12.3%, 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$4,399.1 million) in 2021 and 2022, and RMB9,012.2 million and RMB21,270.1 million (US$2,933.3 million) in the six months ended June 30, 2022 and 2023, respectively, with a gross profit margin of 15.9%, 7.7%, 9.7%, and 10.5%, respectively. The company recorded a net loss of RMB4,514.3 million and RMB7,655.1 million (US$1,055.7 million) in 2021 and 2022, and RMB3,085.2 million and RMB3,870.6 million (US$533.8 million) in the six months ended June 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. 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 and execution efficiency, cost efficiency and control consistency in the vehicle development process, giving the company's battery electric vehicles (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 009 with CATL’s latest Qilin battery, making the 009 the first mass-produced BEV model equipped with the Qilin battery, according to Frost & Sullivan. Together with the company's proprietary advanced battery solutions and highly efficient electric drive system, the 009’s extended range version is expected to be the world’s first pure electric multi-purpose vehicle (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’s smart cockpit is powered by company OS, an exclusive distributed operating system designed for battery electric vehicles (BEVs), seamlessly integrated with the company's state-of-the-art electrical and electronic (E/E) architecture. By dynamically allocating processing power to services, functions, and applications in real-time, company OS optimizes cockpit interactions, autonomous driving, and vehicle control, ensuring a seamless and highly responsive user experience. company OS features a unified service-oriented architecture, in-house full-stack research and development (R&D), optimized network diagnostics, and automated software integration testing, eliminating system lag and enabling continuous updates. With multi-kernel compatibility (Linux, QNX), company OS supports 360-degree surround-view monitoring, parking assistance, and intelligent energy management, setting a new benchmark for BEV software architecture. The smart cockpit experience is further enhanced by the Qualcomm 8295 SoC-based platform, standard across all company vehicle models launched in 2024, with the company 009 Grand featuring the world’s first dual-8295 configuration. The company Sound audio system, equipped with AI-powered tuning, delivers premium acoustic performance, while the Human-Machine Interface (HMI) 3.5 introduces 3D navigation, advanced visual effects, and an intuitive Eva family interface. EVA, the AI-powered driving assistant, leverages machine learning, natural language processing (NLP), and computer vision to provide intelligent voice interaction, predictive assistance, and customizable AI personas. Additionally, the company’s open cockpit ecosystem integrates a virtualized mobile platform, a Scenario Library, and Internet of Things (IoT) connectivity, allowing seamless integration with smart home devices, gaming, and entertainment applications such as Kid Zone, Tencent Cloud Gaming, and wireless karaoke. With the company's operating system and AI-driven innovations, the company's smart cockpit delivers a highly intuitive, immersive, and connected driving experience. 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 model’s extended range version is the world’s first pure-electric MPV model with an over 800 km CLTC range and the longest all-electric range in the MPV market by the end of October 2023, according to Frost & Sullivan. As a premium BEV brand incubated by Geely Group, 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 is a fast-growing BEV technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, the company aspires to lead the electrification, intelligentization, and innovation of the automobile industry. Since its inception, the company has focused on innovation in BEV architecture, hardware, software, and application of new technologies. The company's efforts are backed by strong in-house R&D capabilities, a deep understanding of products, high operational flexibility, and a flat, efficient organizational structure. Together, these features enable fast product development, launch, and iteration, as well as a series of customer-oriented products and go-to-market strategies. Thus, the company is able to rapidly expand even with a limited operating history. The company strategically spearheaded the premium intelligent BEV market with unique positioning, featuring a strong sense of technology, in-house R&D capabilities, stylish design, high-caliber performance, and a premium user experience. The company's current product portfolio primarily includes ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, and ZEEKR X. ZEEKR 001. With an unwavering commitment to its mission, the company released ZEEKR 001 in April 2021, a five-seater, cross-over hatchback vehicle model with superior performance and functionality. Targeting the premium BEV market, ZEEKR 001 is the company's first vehicle model and the world’s first mass-produced pure electric shooting brake, according to Frost & Sullivan. ZEEKR 001 is also the first mass-produced BEV model with over 1,000 km CLTC range, according to Frost & Sullivan. The company began the delivery of ZEEKR 001 in October 2021. In October 2023, the company released ZEEKR 001 FR, its latest cross-over hatchback vehicle model based on ZEEKR 001. Through these future models, the company intends to provide premium mobility solutions of innovation, comfort, and intelligence, as well as a spacious and luxurious high-tech experience with enhanced performance. As a testament to the popularity of the company's current products and capabilities, the company has achieved a total delivery of 10,000 units of its model 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 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. 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 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 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, 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 18 Centers, 219 Spaces, 29 Delivery Centers, and 40 Houses as of June 30, 2023. In addition, the company closely interacts with customers by building an integrated online and offline customer community to provide a holistic experience that goes beyond the purchase of intelligent BEVs. 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 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, 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 its model 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 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. As of December 31, 2023, the company delivered a total of 196,633 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 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. 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. 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, ZEEKR OS, 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 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 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 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 the 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. The company has delivered a cumulative 66,611 units of the MODEL 001 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. 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 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. 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 latest 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 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 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 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 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. 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. 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 vehicles in Europe in December 2023. In the future, the company also plans to tap into the robotaxi market in the United States. 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 ZEEKR 001 and ZEEKR 009. 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 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. 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 expects to start the delivery of the company 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 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 ZEEKR 001 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 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. 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. At the same time, the company's BEVs are manufactured in ZEEKR Factory, which is owned and operated by Geely Holding, and Geely Holding was the company's largest supplier for the nine months ended September 30, 2022. 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 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. 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 ZEEKR Centers, 171 ZEEKR Spaces, 22 ZEEKR Delivery Centers, and one ZEEKR 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 ZEEKR APP, customers can enjoy one-stop car purchase, charging solutions, financial services, roadside assistance, intelligent car control, online shopping of ZEEKR 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 ZEEKR 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. 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. Within less than three years since the company’s inception, the company has launched multiple commercialized electric vehicle models, namely Model 001, Model 001 FR, Model 009, Model X, and an upscale sedan model. Model 001 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 001 (2024 model) in February 2024 and started vehicle delivery in March 2024. Model 009 is a luxury six-seater MPV addressing the customer need for luxury mobility. In April 2023, the company released Model X, the compact SUV model, and began to deliver Model X in June 2023. The company also started to deliver Model 001 FR 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 001 (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 009 and improved the chassis system of Model X in 2024. In April 2024, the company launched Model 009 Grand, a luxury version of Model 009 featuring enhanced safety, privacy, and intelligence. The company also released Model MIX, 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. ZEEKR Intelligent Technology is a holding company with no operations of its own. ZEEKR Intelligent Technology conducts its business operations through its subsidiaries, including its subsidiaries in China. Under this holding company structure, investors in the American Depositary Shares (ADSs) are purchasing equity interests in the Cayman Islands holding company and obtaining indirect ownership interests in the operating companies in China. This holding company structure involves unique risks to investors, and investors may never hold equity interests in the operating companies in China. While ZEEKR Intelligent Technology does not operate in an industry that is currently subject to foreign ownership limitations in China, People's Republic of China (PRC) regulatory authorities could decide to limit foreign ownership in this industry in the future, in which case there could be a risk that ZEEKR Intelligent Technology would be unable to do business in China as currently structured. If the PRC government deems that any of the business operations carried out by the company's Hong Kong or PRC subsidiaries were to be restricted or prohibited from foreign investment in the future, ZEEKR Intelligent Technology may be required to stop its business operations in China, and ZEEKR Intelligent Technology could be subject to material penalties or be forced to relinquish its interests in the affected operations. Such events could result in a material change in ZEEKR Intelligent Technology's operations and a material change in the value of its securities, including causing the value of such securities to significantly decline or become worthless. *[Due to the absence of a textual table that can be extracted and converted into structured natural language descriptions using the provided image, the output is a single asterisk.]* [Table Level]
- Table Title: Reporting Details for Geely Automobile Holdings Limited
- Table Summary: The table outlines the ownership and voting rights of Geely Automobile Holdings Limited, detailing shares beneficially owned, voting power, and related corporate information. It reflects Geely Automobile Holdings Limited's ownership in the issuer as defined in their Schedule 13D filing.
- Context: The filing notes that if the reporting entity had previously filed a statement on Schedule 13G, and now files on Schedule 13D due to changes in regulatory requirements. The post-table information clarifies the ownership structure, detailing the number of shares represented and providing insights into different disclosures.
- Special Notes: The table includes specific units such as shares and percentage of class represented, and notes on ownership details specific to the British Virgin Islands enterprise structure.

[Row Level]
Row 1: The name of the reporting person is Geely Automobile Holdings Limited.
Row 2: Geely Automobile Holdings Limited is a member of a group, as indicated by checking option '(b)'.
Row 3: This row is reserved for SEC use only and does not provide additional information.
Row 4: The source of funds used by Geely Automobile Holdings Limited is noted as "WC".
Row 5: It indicates no disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e).
Row 6: The citizenship or place of organization for Geely Automobile Holdings Limited is the Cayman Islands.
Row 7: The sole voting power attributed to Geely Automobile Holdings Limited is 0.00.
Row 8: The shared voting power held by Geely Automobile Holdings Limited amounts to 1,668,996,860.00 shares.
Row 9: The sole dispositive power of Geely Automobile Holdings Limited is listed as 0.00.
Row 10: The shared dispositive power of Geely Automobile Holdings Limited is 1,668,996,860.00 shares.
Row 11: The aggregate number of shares beneficially owned by Geely Automobile Holdings Limited is 1,668,996,860.00.
Row 12: There is no indication that the aggregate amount in Row 11 excludes certain shares.
Row 13: The percent of the class represented by the amount in Row 11 is 65.7%.
Row 14: The type of reporting person is identified with the notation "CO". ZEEA 2.0 is constructed upon FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with CAN FD protocol and Fast Ethernet used by most of the company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to the company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. The company's ZEEA 2.0 allows the company to enhance the vehicles’ performance in an easy and efficient manner via FOTA. For the company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. The company's ZEEA 2.0 is widely recognized across the industry. The company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that the company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, the company plans to launch ZEEA 3.0, a highly integrated and enhanced electrical and electronic architecture to be adopted in the company's future battery electric vehicle models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units. The company expects that ZEEA 3.0 will continue to use the company's proprietary technology stacks and the company's self-developed operating system, ZEEKR OS. ZEEA 2.0 is constructed upon FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with CAN FD protocol and Fast Ethernet used by most of the company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to the company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. The company's ZEEA 2.0 allows the company to enhance the vehicles’ performance in an easy and efficient manner via FOTA. For the company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. The company's ZEEA 2.0 is widely recognized across the industry. The company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that the company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, the company plans to launch ZEEA 3.0, a highly integrated and enhanced E/E Architecture to be adopted in the company's future battery electric vehicle (BEV) models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units (DCUs). The company expects that ZEEA 3.0 will continue to use the company's proprietary technology stacks and the company's self-developed operating system, ZEEKR OS. ZEEA 2.0 is constructed upon FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with CAN FD protocol and Fast Ethernet used by most of the company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to the company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. The company's ZEEA 2.0 allows the company to enhance its vehicles’ performance in an easy and efficient manner via FOTA. For the company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. The company's ZEEA 2.0 is widely recognized across the industry. The company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that the company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, the company plans to launch ZEEA 3.0, a highly integrated and enhanced E/E Architecture to be adopted in the company's future battery electric vehicle (BEV) models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units (DCUs). The company expects that ZEEA 3.0 will continue to use the company's proprietary technology stacks and the company's self-developed operating system, ZEEKR OS. ZEEA 2.0 is constructed upon the FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with the CAN FD protocol and Fast Ethernet used by most of the company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to the company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. The company's ZEEA 2.0 allows the company to enhance its vehicles’ performance in an easy and efficient manner via FOTA. For the company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. The company's ZEEA 2.0 is widely recognized across the industry. The company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that the company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, the company plans to launch ZEEA 3.0, a highly integrated and enhanced E/E Architecture to be adopted in the company's future battery electric vehicle (BEV) models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units (DCUs). The company expects that ZEEA 3.0 will continue to use the company's proprietary technology stacks and the company's self-developed operating system, ZEEKR OS. ZEEA 2.0 is constructed upon the FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with the CAN FD protocol and Fast Ethernet used by most of the company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to the company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. The company's ZEEA 2.0 allows the company to enhance its vehicles’ performance in an easy and efficient manner via FOTA. For the company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. The company's ZEEA 2.0 is widely recognized across the industry. The company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that the company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, the company plans to launch ZEEA 3.0, a highly integrated and enhanced electrical and electronic architecture to be adopted in the company's future battery electric vehicle models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units. The company expects that ZEEA 3.0 will continue to use the company's proprietary technology stacks and the company's self-developed operating system, ZEEKR OS. ZEEA 2.0 is constructed upon the FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with the CAN FD protocol and Fast Ethernet used by most of the company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to the company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. The company's ZEEA 2.0 allows the company to enhance the vehicles’ performance in an easy and efficient manner via FOTA. For the company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. The company's ZEEA 2.0 is widely recognized across the industry. The company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that the company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, the company plans to launch ZEEA 3.0, a highly integrated and enhanced electrical and electronic (E/E) Architecture to be adopted in the company's future battery electric vehicle (BEV) models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units (DCUs). The company expects that ZEEA 3.0 will continue to use the company's proprietary technology stacks and the company's self-developed operating system, ZEEKR OS. ZEEA 2.0 is constructed upon FlexRay standard and Hundred Meg Ethernet, or HME, which is one of the leading underlying structures compared with CAN FD protocol and Fast Ethernet used by most of company's peers, according to Frost & Sullivan. This underpinning structure delivers a number of advantages to company's ZEEA 2.0, such as convenient API-enabled upgrades and the ability to concurrently develop multiple BEV models. company's ZEEA 2.0 allows company to enhance its vehicles’ performance in an easy and efficient manner via FOTA. For company's advanced FOTA capabilities, see “— Firmware Over-the-Air”. company's ZEEA 2.0 is widely recognized across the industry. company has received certificates from SGS in Europe and from UL in the United States, both of which are world-renowned testing institutions, to prove that company's ZEEA 2.0 has qualified for ISO26262 standard in safety integrity level. In the future, company plans to launch ZEEA 3.0, a highly integrated and enhanced electrical and electronic (E/E) architecture to be adopted in company's future battery electric vehicle (BEV) models that enables streamlined and efficient vehicle control via the combination of centralized computation and Domain Control Units (DCUs). company expects that ZEEA 3.0 will continue to use company's proprietary technology stacks and company's self-developed operating system, ZEEKR OS.