Zeekr, the premium electric vehicle unit of Geely Auto, reported fiscal second-quarter revenue of 27.43 billion yuan ($3.83 billion), down 0.9% year-on-year (Y/Y) but up 24.6% quarter-on-quarter (Q/Q).
Total vehicle deliveries reached 130,866 units, representing a 9.3% Y/Y increase and a 14.8% Q/Q rise. Zeekr delivered 49,337 vehicles, while Lynk & Co delivered 81,529 units, with 58.8% of the latter’s sales coming from new energy vehicles (NEVs).
Adjusted net loss per American depositary share (ADS) was 1.42 yuan, or 20 cents in U.S. dollars. Vehicle sales revenue for the quarter was 22.92 billion yuan ($3.2 billion), a 2.2% increase Y/Y, supported by higher Lynk & Co volumes, partially offset by lower Zeekr sales. Vehicle margins improved to 17.3% from 11.5% a year ago.
Revenue from other sales and services fell 13.8% Y/Y to $630 million, mainly due to lower R&D revenue, but grew 54.5% Q/Q thanks to increased overseas sales of battery packs and electric drives. Gross margin rose to 20.6% from 18.0% in the prior-year quarter, while adjusted net loss declined 81.2% Y/Y to $51 million.
As of June 30, 2025, Zeekr held cash and cash equivalents and restricted cash of 10.21 billion yuan ($1.43 billion). Zeekr shares have gained 4.4% year-to-date amid intense competition from Tesla and Nio.