Company: ZK
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000390
Chunk: 190

Company: ZEEKR Intelligent Technology Holding Ltd
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 190
---
.
Net cash provided by operating activities was RMB2,275.3 million in 2023, primarily due to net loss of RMB8,264.2 million, adjusted for non-cash operating activities of: (i) depreciation and amortization of RMB618.2 million, (ii) share-based compensation of RMB135.6 million, and (iii) share of income in equity method investments of RMB86.8 million. The amount was further adjusted by changes in operating assets and liabilities that had a positive effect on cash flow, including primarily (i) an increase in amounts due to related parties of RMB8,482.8 million, which was primarily due to the increase in amounts payable to related parties in relation to our vehicle manufacturing, driven by the increase of our vehicle sales, and (ii) an increase in notes payable of RMB4,001.2 million, primarily including the notes payable to related-party suppliers of vehicles and third-party suppliers of battery cells and modules, reflecting the growth of Zeekr’s and Ningbo Viridi’s business, respectively.
Net cash used in operating activities was RMB3,523.6 million in 2022, primarily due to net loss of RMB7,655.1 million, adjusted for non-cash operating activities of: (i) share-based compensation of RMB211.2 million, (ii) depreciation and amortization of RMB239.1 million, and (iii) share of loss in equity method investments of RMB172.8 million. The amount was further adjusted by changes in operating assets and liabilities that had a positive effect on cash flow, including primarily (i) an increase in accounts payable of RMB2,139.4 million, (ii) an increase in notes payable of RMB1,503.7 million, both of which was related to the increased amounts payable to related-party suppliers of vehicles and third-party suppliers of battery cells and modules, which, in turn, was respectively driven by the growth of Zeekr’s and Ningbo Viridi’s business, and (iii) an increase in amounts due to related parties of RMB3,986.5 million, which was primarily due to increases in amounts payable to related parties in related to our vehicle manufacturing, partially offset by (i) an increase in amounts due from related parties of RMB2,292.2 million due to an increase in sales of batteries and other components to related parties, and (ii) an increase in invent