Company: ZK
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000390
Chunk: 184

Company: ZEEKR Intelligent Technology Holding Ltd
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 184
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MB3,519.9 million (US$482.2 million) in 2023 and 2024, respectively, due to a share-based compensation expenses recognized for IPO-conditioned rewards that were cumulatively vested upon the Company’s successful IPO, and the size of our selling, general and administration team increased from approximately 6,618 members to 7,895 members as of December 31, 2023 and 2024, respectively, to expand our offline channels globally. (ii) our marketing and promotional expense increased from RMB1,802.3 million to RMB1,843.9 million (US$252.6 million) in 2023 and 2024, respectively, mainly due to more frequent marketing and advertising campaign for Zeekr models in China and overseas, and (iii) an increase in the rental and related expense from RMB998.9 million to RMB1,445.2 million (US$198.0 million) in 2023 and 2024, respectively, mainly due to expansion of our offline network.
Other operating income, net
We recorded other operating income, net of RMB459.7 million (US$63.0 million) in 2024, as compared to RMB261.2 million in 2023, primarily due to the increased income of RMB127.9 million from non-primary business, such as income from licensed use of molds and tooling and subscription service.
Loss from operations
As a result of the foregoing, our loss from operations decreased from RMB8,178.1 million in 2023 to RMB6,460.4 million (US$885.1 million) in 2024.

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Interest expense
We recorded interest expense of RMB69.9 million (US$9.6 million) in 2024, as compared to RMB256.1 million in 2023, primarily due to the decreased average debt balance from related party loans over the same periods.
Other (expenses)/income, net
We recorded other expenses, net of RMB105.8 million (US$14.5 million) in 2024, compared with other income, net of RMB50.6 million in 2023. This was due to the increase of RMB135.0 million in foreign exchange gain in 2024.
Net loss
As a result of the foregoing, we incurred a net loss of RMB5,790.6 million (US