Company: ZK
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000390
Chunk: 187

Company: ZEEKR Intelligent Technology Holding Ltd
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 187
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 Cayman Islands or any of our subsidiaries outside of China were deemed to be a resident enterprise under the EIT Law, it would be subject to enterprise income tax on its worldwide income at a uniform enterprise income tax rate of 25%.
According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, enterprises engaged in research and development activities are entitled to claim the research and development expenses incurred in a year as tax deductible expenses in determining their tax assessable profits for that year. From January 1, 2023, regarding the research and development expenses actually incurred in the course of research and development activities, an extra 100% of the amount of research and development expenses actually incurred is deductible before tax payment, in addition to the deduction of actual expenses as prescribed, provided that the said expenses are not recognized as intangible asset and included in the current profits and losses; if the said expenses have been recognized as an intangible asset, such expenses may be amortized at the rate of 200% of the costs of the intangible assets before tax payment.
Sweden
The statutory Swedish tax rate was 20.6% in 2022, 2023 and 2024.
Netherlands
The statutory Netherlands tax rate was 25.8% in 2023 and 2024.
Recent Accounting Pronouncements
Please refer to Note 3 to our combined and consolidated financial statements included elsewhere in this annual report.

5.B.   Liquidity and Capital Resources
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Liquidity and Capital Resources
Our primary sources of liquidity have been through the operation of our business, financial support from our controlling shareholder, bank borrowings and equity financing activities, which have historically been sufficient to meet our working capital, our business needs, in particular our research and development activities, as well as our capital expenditure requirements. As of December 31, 2022, 2023 and 2024, we had cash and cash equivalents and restricted cash of RMB3,754.9 million, RMB4,104.7 million and RMB8,961.7 million (US$1,227.7 million).
Historically, we received financial support from Geely Holding in form of inter-company loans, advances and capital injection. On April 15, 2022, Zhejiang ZEEKR entered into a 10-year loan agreement with Zhejiang Geely Automobile Manufacturing Co., Ltd. in the total principal amount of RMB9.7 billion to