By ZHOU Shuqi
Zeekr updated its IPO prospectus recently, disclosing financial data for the first three quarters. A banking source informed Jiemian News that Zeekr is close to going public, with just a few steps remaining.
According to the latest prospectus, Zeekr’s revenue for the first three quarters of 2023 reached 35.3 billion yuan (US$4.9 billion), a year-on-year increase of 91.2 percent.
In contrast to many other automotive companies that rely on vehicle sales revenue, Zeekr’s revenue is more diversified. The prospectus shows that Zeekr’s revenue mainly comes from vehicle sales, but also powertrain, R&D and other services.
From 2021, Zeekr’s non-vehicle revenue has increased from 5 billion yuan to 12 billion yuan.
Zeekr CEO An Conghui said Zeekr’s gross profit margin will reach double digits in 2023. Despite the steady improvement in the vehicle profit margin, Zeekr is still made a net loss of 3.9 billion yuan in the first half.
In the first ten months of this year, Zeekr delivered a total of 92,000 vehicles only 65.7 percent of the target for the year.
In Q3 of this year, Zeekr’s R&D investment was 2 billion yuan, lower than Li Auto’s 2.8 billion yuan, but higher than Xpeng’s 700 million yuan.
Before applying for listing, Zeekr completed a 500 million yuan Pre-A financing round and a 750 million yuan Series A round. At the beginning of this year, Zeekr’s valuation was approximately US$13 billion.
