- Zeekr Group reported a net loss of RMB 307 million ($43 million) in the third quarter, down 84.9 percent from RMB 2.028 billion in the third quarter 2024.
- Zeekr Group's vehicle deliveries grew 12.51 percent year-on-year in the third quarter, while R&D expenses decreased by 8.6 percent.
Zeekr Group (NYSE: ZK) reported a significant reduction in its third-quarter loss, driven by increased deliveries and lower R&D expenses.
The Group posted a net loss of RMB 307 million ($43 million) in the third quarter, representing an 84.9 percent decrease from RMB 2.028 billion in the third quarter 2024 and a 7.0 percent decrease from RMB 287 million in the second quarter 2025, according to its unaudited financial results released today.
Excluding stock-based compensation expenses, the non-GAAP net loss for the third quarter was RMB 265 million, down 86.6 percent year-on-year while up 3.1 percent quarter-on-quarter.
During the third quarter, Zeekr Group delivered 140,195 vehicles, representing a 12.51 percent increase year-on-year and a 7.13 percent rise quarter-on-quarter.
This resulted in third-quarter revenue of RMB 31.56 billion, up 9.1 percent year-on-year and up 15.1 percent quarter-on-quarter.
The Zeekr brand delivered 52,860 vehicles in the third quarter, down 3.90 percent year-on-year but up 7.14 percent quarter-on-quarter. Lynk & Co delivered 87,335 vehicles in the third quarter, a 25.48 percent increase year-on-year and a 7.12 percent increase quarter-on-quarter.
Zeekr Group's R&D expenses for the third quarter totaled RMB 2.74 billion, an 8.6 percent decrease year-on-year but a 27.8 percent increase quarter-on-quarter.
Third-quarter selling, general, and administrative (SG&A) expenses totaled RMB 3.78 billion, up 11.3 percent year-on-year and 12.5 percent quarter-on-quarter.
The increases in SG&A expenses were primarily attributable to higher marketing and advertising expenditures to support new model launches and sales growth, Zeekr said.
Gross margin for the third quarter was 19.2 percent, higher than the 15.2 percent recorded in the third quarter of 2024 but lower than the 20.6 percent achieved in the second quarter of 2025.
Vehicle margin for the third quarter was 15.6 percent, up from 12.6 percent in the third quarter of 2024 but down from 17.3 percent in the second quarter.
