Zeekr delivered a record 55,003 vehicles in the third quarter, up 51.13 percent year-on-year and up 0.35 percent from the second quarter.

Zeekr (NYSE: ZK), the premium electric vehicle (EV) subsidiary of Geely Holding Group, will report unaudited financial results for the third quarter of 2024 before the US markets open on Thursday, November 14, it announced today.

Zeekr management will host an earnings call on November 14 at 7:00 am US Eastern time (8:00 pm Beijing time on the same day).

The company delivered a record 21,333 vehicles in September, bringing third quarter deliveries to a record 55,003 vehicles.

Deliveries for the quarter were up 51.13 percent year-on-year and up 0.35 percent from the second quarter.

In the January-September period, Zeekr delivered 142,873 vehicles, up 80.79 percent year-on-year.

Zeekr is targeting to deliver around 230,000 vehicles in the 2024 full year. To accomplish its goal, it would need to deliver an average of about 29,000 vehicles per month in the fourth quarter.

The company has not previously provided quarterly guidance for deliveries or revenue like other US-listed local peers.

Zeekr on August 21 reported revenue of RMB 20.04 billion ($2.8 billion) in the second quarter, up 58.4 percent from RMB 12.65 billion in the second quarter of 2023 and up 36 percent from RMB 14.74 billion in the first quarter of 2024.

That was Zeekr's second earnings report since it went public on the New York Stock Exchange in May.

It reported revenue from auto sales of RMB 13.44 billion in the second quarter, up 59 percent from RMB 8.45 billion in the second quarter of 2023 and up 64.4 percent from RMB 8.17 billion in the first quarter of 2024.

Zeekr had a gross margin of 17.2 percent in the second quarter, compared to a gross margin of 12.3 percent in the second quarter of 2023 and 11.8 percent in the first quarter of 2024.

It had a vehicle margin of 14.2 percent in the second quarter, compared to 13.6 percent in the second quarter of 2023 and 14.0 percent in the first quarter of 2024.

Zeekr reported a net loss of RMB 1.81 billion in the second quarter, an increase of 28.7 percent from RMB 1.41 billion in the second quarter of 2023 and a decrease of 10.5 percent from RMB 2.02 billion in the first quarter of 2024.

($1 = RMB 7.1232)

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