Zeekr Group Reports Robust September Deliveries Amid New Model Introductions

Zeekr Group Reports Strong September 2025 Deliveries

ZEEKR Intelligent Technology Holding Limited (NYSE: ZK), encompassing the Zeekr and Lynk & Co brands, reported significant growth in vehicle deliveries for September 2025. The company announced a total of 51,159 vehicles delivered across its brands during the month. This performance represents an 8.5% increase year-over-year and a 14.1% rise compared to the previous month. Specifically, the Zeekr brand accounted for 18,257 deliveries, while Lynk & Co contributed 32,902 units to the total.

New Model Introductions Bolster Product Portfolio

September also marked the strategic introduction of two new models designed to expand Zeekr Group's presence in the premium and technologically advanced vehicle segments. On September 8, Lynk & Co launched its first mid-to-large hybrid sedan, the Lynk & Co 10 EM-P. This new model integrates advanced features such as smart electric all-wheel drive, centimeter-level LiDAR, and is powered by the NVIDIA Thor chip, which underpins the G-Pilot H7 intelligent driving solution. The 10 EM-P also debuted the LYNK Flyme Auto 2 smart cockpit system, featuring AI-powered, human-like interaction capabilities.

Following this, on September 29, Zeekr unveiled its new flagship luxury SUV, the Zeekr 9X. Built on the innovative SEA-S architecture, the Zeekr 9X incorporates the SEA super hybrid system and G-Pilot intelligent driving assistance. This SUV aims to set new benchmarks in luxury, range, charging efficiency, and overall performance, featuring dual NVIDIA Thor-U chips, five LiDAR units for Level-3 autonomous driving capabilities (pending regulatory approval), and a luxurious interior with a "Cloud Lounge" seating configuration and advanced infotainment.

Market Reaction and Financial Overview

The robust delivery figures and the launch of technologically advanced vehicles typically foster a bullish to moderately bullish sentiment among investors. Strong operational performance in deliveries suggests growing market acceptance and demand for Zeekr Group's offerings in the competitive EV sector and hybrid market. The integration of cutting-edge technologies, such as NVIDIA chips and advanced AI in new models, underscores the company's commitment to innovation, which can enhance brand perception and market share in the premium segments.

Financially, Zeekr (ZK) operates within the Consumer Cyclical sector, specifically Vehicles & Parts, with a market capitalization of $7.81 billion. The company reported a trailing twelve months (TTM) revenue of $10.56 billion, reflecting a significant 3-year revenue growth rate of 120.4%. Its gross margin stands at 18.15%, falling within its historical range. However, the company is currently challenged by a negative net margin of -3.54%, indicating difficulties in achieving profitability. Additionally, a debt-to-equity ratio of -1.51 and an Altman Z-score of 0.13 place Zeekr in a distress zone, suggesting potential financial leverage issues and a risk of financial distress in the near future. The price-to-sales ratio of 0.73 is near its 2-year high of 0.78, suggesting a relatively high valuation. Institutional ownership remains limited at 4.23%, indicating cautious institutional interest.

Broader Market Context and Strategic Implications

The performance of Zeekr Group in September highlights the intensifying competition and rapid technological evolution within the New Energy Vehicle Group sector. The successful launch of the Zeekr 9X, with its reported 42,667 pre-orders within an hour, demonstrates strong consumer appetite for luxury, high-tech SUVs, with demand equivalent to a significant percentage of established luxury brands' annual sales in China. This indicates a potential shift in market dynamics and consumer preferences towards advanced domestic offerings. The focus on intelligent driving solutions and AI-powered cockpits positions Zeekr Group to capitalize on the growing demand for smart vehicles, particularly as autonomous driving technologies mature.

Outlook and Key Factors

Looking ahead, the market will closely monitor Zeekr Group's ability to translate strong delivery numbers and successful new model launches into sustained revenue growth and improved profitability. Key factors to watch include the ramp-up of production for the Lynk & Co 10 EM-P and Zeekr 9X, the market reception of these advanced models in terms of long-term sales, and the company's strategy to address its financial leverage and move towards positive net margins. Continued innovation in battery technology, charging infrastructure, and intelligent driving systems will be crucial for maintaining a competitive edge and expanding market share in the premium EV and hybrid segments globally. The company's ability to attract greater institutional investment will also be a significant indicator of market confidence in its long-term viability and growth trajectory.