Company: ZK
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000390
Chunk: 240

Company: ZEEKR Intelligent Technology Holding Ltd
Filing Date: 2025-03-20
Form: 20-F
Item: Item 11
Chunk 240
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ITEM 11.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
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Concentration of credit risk
Assets that potentially subject us to significant concentrations of credit risk primarily consist of cash and cash equivalents, restricted cash, accounts receivable and amounts due from related parties. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. All of our cash and cash equivalents and restricted cash are held with financial institutions that our management believes to be high credit quality. We periodically evaluate the creditworthiness of the existing customers in determining an allowance for doubtful accounts primarily based upon the age of the receivables and factors surrounding the credit risk of specific customers.
Foreign currency risk
The RMB is not a freely convertible currency. The conversion of RMB into foreign currencies is regulated by the State Administration for Foreign Exchange, under the authority of People’s Bank of China. The value of the RMB is subject to changes in central government policies, international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. Our cash, cash equivalents and restricted cash denominated in RMB amounted to RMB 3,593.8 million and RMB7,354.3 million as of December 31, 2023 and 2024, respectively.
A significant portion of our cash and cash equivalents and restricted cash are denominated in EUR, SEK, US$, THB and AUD. Fluctuations in exchange rates between RMB and EUR, SEK, US$, THB and AUD may result in foreign exchange gains or losses. We have cash and cash equivalents and restricted cash that are denominated in EUR, SEK, US$, THB and AUD as follows:

 ​    ​      ​        ​         ​   
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​     ​    As of December 31,       
​     2023          2024            
​     ​    (in thousands)           
EUR        16,609             35,000
SEK        95,676            382,492
US$   ​    44,050            131,148
THB        —                 422,844
AUD        —                   8,722
​
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