ZEEKR Releases Q2 Financial Results: Total Revenue of 27.4 Billion Yuan, Comprehensive Gross Margin of 20.6%

Deep News
Aug 19

ZEEKR recently released its unaudited financial results for the second quarter ended June 30, 2025: total revenue reached 27.431 billion yuan; comprehensive gross margin of 20.6% hit a record high, up 2.6 percentage points year-over-year; vehicle sales revenue totaled 22.916 billion yuan, up 2.2% year-over-year; vehicle gross margin reached a new high of 17.3%, up 5.8 percentage points year-over-year; R&D expense ratio was 7.8% and SG&A expense ratio was 12.3%, both declining year-over-year.

For the first half of the year, ZEEKR's total revenue reached 49.450 billion yuan; comprehensive gross margin was 20.0%, up 2.7 percentage points year-over-year; both R&D expense ratio and SG&A expense ratio declined year-over-year. ZEEKR and Lynk & Co completed strategic integration, continuing to leverage synergistic effects.

In terms of sales volume, ZEEKR implemented a dual-brand strategy of "ZEEKR + Lynk & Co," delivering a total of 244,877 new vehicles globally in the first half, up 14.5% year-over-year. ZEEKR welcomed its 500,000th production vehicle rolling off the production line in June, which was the ZEEKR 009 Glory. Additionally, ZEEKR's shooting brake models surpassed 300,000 units produced, making ZEEKR the world's first luxury new energy brand to exceed 300,000 shooting brake vehicle sales. Lynk & Co surpassed 1.5 million cumulative deliveries on July 16, with a weighted average transaction price of 189,000 yuan across all product categories, surpassing mainstream joint venture brands. In the first half of 2025, Lynk & Co achieved a three-year residual value rate of 54.58%, with 9 models ranking in the top ten.

ZEEKR launched two new models in the first half. The tech shooting brake coupe ZEEKR 007GT is positioned as young users' "first luxury shooting brake vehicle." The flagship large six-seat SUV Lynk & Co 900, built on the SPA Evo architecture, has ranked among the top three full-size premium hybrid SUVs for three consecutive months since launch, exceeded 20,000 deliveries in its first 100 days on the market, and achieved 6,680 units in July sales. In July, the world's first luxury electric-hybrid dedicated architecture Vast-S, built on a pure electric platform, was officially launched. The first model fully powered by the Vast-S architecture, ZEEKR 9X, will begin pre-sales at the end of August. Meanwhile, Lynk & Co's first mid-to-large electric-hybrid sedan, the Lynk & Co 10 EM-P, began pre-sales on August 11, with a fully-loaded pre-sale price starting from 192,000 yuan, standard with all-wheel drive and LiDAR. Pre-orders exceeded 10,000 units within 24 hours, and it will officially launch in September.

Regarding charging networks, ZEEKR globally debuted the V4 Ultra-Fast Charging Megawatt Pile, with single-gun peak power of 1.3 megawatts and single-gun peak current of 1,300A. The first V4 Ultra-Fast Charging Megawatt Station has been deployed in Hangzhou. Additionally, ZEEKR Energy's charging map has gone live in Hong Kong, covering core commercial areas across the territory. As of June 30, ZEEKR has built 1,683 self-operated charging stations, 993 ultra-fast charging stations, and 4,689 ultra-fast charging piles, partnering with nearly 50 mainstream operators with third-party quality charging networks exceeding 1.38 million guns, covering all prefecture-level cities in mainland China.

In terms of globalization, ZEEKR has entered over 60 major international markets worldwide, with more than 1,200 global stores and over 2 million users. In the first half, ZEEKR ranked first in luxury automotive brand sales in Hong Kong, topped pure electric brand sales in Kazakhstan, and ranked among the top three pure electric brands in Egypt. The flagship model ZEEKR 009 won MPV segment sales championships in major international markets including Hong Kong and Thailand. Meanwhile, ZEEKR 7X successfully entered Norway, Netherlands, Sweden, and Hong Kong markets. Lynk & Co accelerated global expansion in the first half, entering markets including Dominican Republic, Laos, Egypt, Mexico, and Kazakhstan, with the Lynk & Co 08 EM-P officially launching in Europe in June.

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