Zeekr Group, a leading player in the electric vehicle industry, recently released its financial report for the first quarter of 2025. The report highlighted the company’s revenue and gross margin figures, showcasing a slight increase in revenue compared to the same period last year.
According to the unaudited financial report, Zeekr Group recorded a revenue of RMB 22 billion ($3.03 billion) in the first quarter, marking a 1.1 percent increase from the first quarter of 2024. However, there was a significant decrease of 37.8 percent from the previous quarter’s revenue of RMB 35.4 billion.
Zeekr Group consists of the Zeekr and Lynk & Co brands, which were successfully integrated on February 14. The consolidation of the two brands has already begun to show positive results, with CEO Andy An noting that the optimization of R&D and shared platforms has boosted profitability.
In terms of vehicle sales, Zeekr Group generated RMB 19.1 billion in revenue in the first quarter, representing a 16.1 percent increase from the same period last year. However, there was a 38.4 percent decline from the previous quarter’s revenue of RMB 31 billion, primarily due to lower deliveries resulting from seasonal factors.
Despite the decline in revenue, Zeekr Group delivered a total of 114,011 vehicles in the first quarter, showing a 21.14 percent increase in deliveries compared to the same period last year. The Zeekr brand delivered 41,403 vehicles, while Lynk & Co delivered 72,608 vehicles during the quarter.
One of the key highlights of the financial report was Zeekr Group’s gross margin, which stood at 19.1 percent in the first quarter. This marks an improvement from the 16.3 percent gross margin in the first quarter of 2024 and the 18.0 percent margin in the previous quarter. The increase in gross margin was primarily attributed to cost-saving initiatives, despite lower average vehicle selling prices.
Additionally, the company’s R&D expenses for the first quarter totaled RMB 2.91 billion, a 25.0 percent increase from the same period last year. This investment in research and development reflects Zeekr Group’s commitment to innovation and technological advancement in the electric vehicle market.
In conclusion, Zeekr Group’s financial performance in the first quarter of 2025 demonstrates steady growth and a focus on improving operational efficiency and profitability. With the successful integration of the Zeekr and Lynk & Co brands, the company is well-positioned to capitalize on the growing demand for electric vehicles in the global market.
