ZEEKR Intelligent Technology Holding Limited American Depositary Shares (each representing ten (10) Ordinary Shares)

Hello, ladies and gentlemen. Thank you for standing by for Zeker Group's first quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. Today's conference call is being recorded. I will now turn the call over to your host, Mr. Jing Huang, the CFO of Zeker Group. Please go ahead.

Thank you, Apresa. Good day, everyone. Welcome to Zika Group's first quarter 2025 earnings conference call. Before we continue, please be reminded that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the view expressed today. Further information regarding risks and uncertainties is included in certain company filings with the U.S. Securities and Exchange Commission. The company does not take any obligation to update any forward-looking statements, except as required under the applicable law. So joining us today from Zika Group Senior Management is Anzong Hui. co-founder and CEO, and myself, Xin Yuan, the group CFO. Our CEO will make his remarks in Chinese, followed by an English translation. Before taking the call to me for a review of our financials, and I will talk about our financials in English. With that, I will now turn the call over to our CEO, Andy. Please.

Hello, everyone on the line. Hello, everyone. Thank you all for joining Zika Group's first quarter 2025 earnings call. from small to large, and opened up the era of Chinese armored vehicles. We also started from the most expensive, from the most expensive. Geek 009 has also become more than 400,000 yuan. Expensive MPV's all-in-one sales, and also opened up an expensive MPV box. It is everyone's firm choice and long-term support that we have gained nearly 500,000 users around the world.

First and foremost, I would like to extend my heartfelt thanks to our users, employees, and partners. Over the past four years, your unwavering support and long-term trust have made it possible for us to achieve what once seemed impossible. With Zika-001, we transformed the shooting brake from a niche segment into a mainstream option for our customers, ushering in a new era for this category in China. Meanwhile, the ZK009 took the luxury segment by storm, becoming the top-selling model in the over 400,000 RMB luxury MPV category and pioneering a new market for premium pure electric MPVs. Thanks to your belief in us, Zika has reached nearly 500,000 users worldwide, carving out a third path in the new era of intelligent electric mobility.

In the past quarter, Zika and Link's strategy and Zika Technology Group's global users have exceeded 1.9 million. As of the end of the first quarter, following the strategic integration of Zika

and the Lincoln Co. brands, Zika Group's global user base surpassed 1.9 million and is rapidly approaching the 2 million mark. Looking ahead, we will continue to redefine luxury through exceptional service and elevate the premium automotive segment with cutting-edge technologies. Amid the industry's transformation, we remain firmly committed to innovation as we expand our presence in the global premium market.

Since February, Linke and Jike have merged. Now, the company, through the product development cooperation, has made a change in the manufacturing system, and has improved operations on the user side. including the establishment of channels in and out of the sea, and all kinds of measures. It also continues to promote platform-based technology sharing. It has also achieved initial results in terms of scale, and its profit and loss level is constantly improving. As of March, the current technology sales amounted to 11.4 million taels, which is a 21% increase, which is unprecedented for China's new and high-end luxury market. Since February, after we integrate both the Lincoln Co.

brand and Zika brand, into Zika Group. Zika Group has driven progress through a series of strategic initiatives, including joint product R&D, upgrades to our manufacturing systems, enhanced user engagement, and stronger coordination across domestic and international channels. These efforts have accelerated platform-based technology sharing and unlocked economies of scale, generating a notable improvement in profitability. From January to March, Zika Group delivered 114,000 vehicles, marking a 21% year-over-year increase and solidifying our position among the leaders in China's premium EV segment. Zika Group's first quarter revenue reached 22 billion RMB, with vehicle revenue up to 19.1 billion RMB. Vehicle's gross margin reached an impressive 16.5%, with the Zika brand's margin rising to 21.2%.

Next, I would like to briefly introduce

Next, let me outline our three key areas of focus for driving sustained growth, product, technology, and channel expansion.

We have further intensified the policy of the product to enhance the productivity of the product. In the future, high-end luxury and fusion will be the biggest growth points in the Chinese market. On the one hand, Jike will continue to open up the luxury market. On April 15, the launch of the Jike 007, a technology-based peddler, also expanded the family of Jike peddlers. From its launch to today, it has sold more than 10,000 units. The G-KER-009 light and dark version is the top-of-the-line for all markets. It has become the leading car in the market. Its sales are also growing rapidly. Also, at the Shanghai Motor Show, The most expensive flagship SUV in the era of journalists, the Seeker 9X, is the first in the world to use a full-blown 900-foot high-pressure structure super electric car. The whole system can achieve three-second acceleration. The technology used in the super electric car is what we started to develop three years ago. This technology will represent the future of journalists. will lead the technology of the future new energy source. This technology is a combination of the advantages of dusting, sanding, and dusting technology. It can bring users the experience of the ultimate price as well as dusting, and it can also solve the anxiety of the demand. This model is not only luxurious, Let's begin with our product lineup.

In line with our brand strategies, that is elevating the Zika brand in the premium segment and expanding the Lane & Co. brand's market reach, we have further enriched our product portfolio and enhanced the overall competitiveness. As high-end premium and hybrid vehicles emerge as key growth engines in China's auto market, we are actively adapting to the evolving landscape. The Zika brand continues to make bold strides in the premium space. In April the 15th, we launched the Zika 7 GT, a high-tech shooting brake coupe, further strengthening the Zika's shooting brake family. We produced over 10,000 Zika 7 GTs for delivery in the model's first month. The Zika 009 Grand Collector's Edition, boasted by the high-profile endorsement, has quickly become a sought-after choice among top-tier buyers. Furthermore, the Zika 9X, positioned as the new energy era's most luxurious flagship SUV, is worth the first super electric hybrid model built on a full-stack 900-volt high-voltage architecture. The entire lineup delivers 0 to 100 kph acceleration in just three seconds. It's groundbreaking super electric hybrid technology, which we began developing three years ago, seamlessly combines the advantages of a pure electric plug-in hybrid and the range extender systems. This enables a driving experience comparable to that of a pure EV without any worry of range anxiety. By strategically tapping into both luxury and hybrid segments, the ZK9X captures widespread attention from global media outlets, industry peers, and consumers at its Shanghai Auto Show's debut.

From the point of view of the Linker brand, the Linker brand is constantly developing in a high-end way. Its dynamic form and user market are also constantly expanding. After Linker and Geek merged, Linker launched the big six SUV Linker 900 last month. It uses EMP smart power supply technology. The delivery volume of Linker900 has exceeded the large volume of transmission on the market. So far, there are more than 30,000 units. From the structure of the order, Linker900 2.0 is also a high-end version. The proportion is more than 80%. Among the order users, Meanwhile, the Lincoln Co.

brand continues to solidify its presence in the premium segment while broadening both the powertrain lineup and the customer base. Following the strategic integration, we launched the Lincoln Code 900 in April, a smart six-seater flagship SUV powered by EMP hybrid technology. The delivery volume of the Lincoln Code 900 has surpassed that of the models with highly publicized pre-orders in the market. This model has secured far over 30,000 pre-orders to date, and the order data shows strong demand for the high spec 2.0 Turbo Ultra model. 80% of our customers choose that variant, and particularly among the users upgrading or replacing their existing models. Notably, over 30% of the orders are from former Mercedes-Benz, BMW, and Audi drivers. highlighting the Lincoln Code 900's solid performance both in terms of sales, volume, and premium market appeal.

也对于各位投资人所关心的 今年极客科技新产品的情况 我想介绍一下 这一领克品牌在下半年 会发布首款EMP的中大型的轿车 G-KER will release and launch UX and another large luxury SUV. Today we can talk about 8X. They will be released and launched in the third and fourth seasons respectively. Both of these G-KER luxury SUVs will be equipped with great super-fiber technology. I believe that this series is very competitive. And I understand that many investors are very interested about our future product offering.

Looking ahead, Lincoln Co. will launch its first EMP metrolux sedan in the second half of this year. while Zika Group would roll out the Zika 9X and another large luxury SUV, 8X, in the third and the fourth quarter respectively, both equipped with the cutting-edge super-electric hybrid technology. This compelling lineup of competitive, highly differentiated models promises to inject fresh momentum into our business

and fuel the group's sustainable steady growth.

Secondly, on technology, in response to the title declaration and to accelerate its implementation, we are systematically advancing the integration and the sharing of key platforms technologies across the Zika and the Lincoln Co. brands, including the vehicle architecture, electrical and electronic architecture, powertrain systems, intelligent driving assistance, and the smart copy technologies. We aim to build a strong technological model through the coordinated efforts across both brands.

First of all, in terms of smart assist driving, Geely has realized the entire driver's license. It officially introduced a unified smart assist driving solution, 1000 miles per hour. The following new products will be equipped with 1000 miles per hour H7 and H9 solutions. What is particularly worth mentioning is that the Geek 9X with the 1000mAh H9 program will have L3-level smart assist driving capability. We also expect to deliver it at the end of the year. At the same time, the latest Geek 900 with the 1000mAh H5 and H7 program will be deeply integrated and become the first mass production model of the Invitasor chip. and is equipped with G-KER's first G-AES communication automation technology. In the second half of the year, G-KER and G-KER's EMP center car will also be equipped with NVIDIA SOLAR chips and use 1000mH of LHC solutions. Simply put, G-KER and G-KER have achieved high-end platforming in the manufacturing sector.

In the area of intelligent driving, Geely has unified its approach across brands and officially launched its standard intelligent driving assistance solution, that is the G-PILOT. Future, the Zika group models will feature the G-PILOT H7 and H9 systems. Among them, the Zika 9X, will be equipped with the G-PILOT H9 system and offer the level 3 ready intelligent driving assistance capabilities. It is expected to enter the mass production and delivery by the end of this year. Meanwhile, the newly launched Lincoln Core 900 incorporates the advanced G-PILOT H5 and H7 systems. It's also the first production model to feature NVIDIA's Drive-AGX SOAR platform and comes equipped with the Geely Advanced Evasion System, or GAES, a continuous automatic invasive steering technology originally built by the Zika brand. In the second half of this year, Lincoln Coast's upcoming EMP made to large sedan will also be equipped with NVIDIA's SOAR chip SoC and adopt the GPI-7 platform. So, to simply put, we will find a very good synergy in the area of ADAS for both Zika and the Lincoln Co. brands.

In terms of energy consumption, Zika and Lincoln have been completely shared and platformed at the electrical structure level. In terms of application, In the smart corporate realm, Ezequiel and the Lincoln Co.

will just share domain controllers and the electrical and electronic architecture. Each brand will maintain its distinct user experiences at application level. Zika vehicles will continue to use Zika AIOS, while the Lincoln Co. will use Flyme Auto. So to simply put, the two brands will share a lot in common, but still have different applications.

Now, in terms of the three stores, The self-proclaimed Jinzhan battery has also opened up the super-fast charge era of Linsan Iron. Let Linsan Iron's battery charge faster than all mass-produced three-millimeter batteries. It should be said that Jinzhan battery is one of the fastest power batteries in global mass production. In the future, the existing Jinzhan battery will be unified as Shendun Jinzhan battery.

In EV battery technology, Zika Group's self-developed Golden Battery has ushered in a new era of ultra-fast charging for lithium-ion phosphate batteries. becoming the first LFP battery to surpass all mass-produced lithium batteries in charging speed. It is now one of the fastest charging batteries in production globally. Moving forward, the original Golden Battery will be unified under the Shield Golden Battery and will incorporate advanced in-house cell technologies developed by the Geely Holding Group. This upgraded battery platform will further enhance the growth of both Zika and the Lincoln Co. brand in 2025 and beyond.

In terms of charging capacity, I believe you have seen that we have also continued to upgrade the charging technology. At present, we have also launched the V4 charging charging system. . . . . . . Building on this foundation, we are pushing the boundaries of charging technologies even further.

Zika Group has officially launched the V4 Ultra Fast megawatt charger, which boasts a world-leading peak single-gallon output of 1.3 megawatts. The first station is already being built up and running in the city of Hangzhou, delivering a total power output of over 1,400 kilowatts, sufficient to support simultaneous ultra-fast charging for three 800-volt models across Zika and the Lincoln Co. brands. In fact, our customers are giving very positive feedback about their experiences of charging at the station, and we will soon expand this technology across the nation.

第三个方面我想讲这个极客科技 在全球渠道建设方面 首先在国内方面的话 我们进一步加强门店的布局 渠道下层 那极客品牌已经在全力的借用 Thirdly, the global channel development.

Domestically, we would continue to strengthen our store network and expand into more lower tier markets. Zika would leverage LinkedIn Coast channel resources to aggressively expand into lower tier markets, sharing after-sales service infrastructure, improving accessibility for users, and significantly boosting the Zika brand's overall channel coverage.

In terms of overseas, we have been expanding our sales through global expansion. We have also established a unified sales company in the new market outside of Europe, with a team to open up two international markets of two brands. At present, Linke's 08 EMP and G-KER's GX two-wheeled car have begun to be released overseas. On May 16, GECO 7X officially opened in Europe. By the end of April, we have entered more than 60 international mainstream markets around the world. There are 1,200 global stores, including domestic and international stores. There are 150 stores overseas, covering Asia, Europe, Oceania, Latin America, Africa, and five major states. Of course, some stores have just started Nationally, we are accelerating our global expansion to drive a continued sales growth

Beyond Europe, we plan to establish a unified sales company in the global market with a single team focused on developing international markets for both brands. Currently, the Lincoln Code 08 EMP and the ZK7X are being shipped overseas. On the 16th of May, the ZK7X will do commercial deliveries in Europe. As of the end of April, we have entered over 60 major international markets with a global retail footprint of over 1,200 stores, over 150 of which are located in the overseas markets spanning Asia, Europe, Oceania, Latin America, and Africa. And I believe that and the Lincoln Code 08 and the ZK7X would have a very good market performance in the global market because they are in the large segment and we already receive a positive feedback from the customers.

For reformers, we are close. For innovators, we are strong. For reformers, we are strong. For the first quarter, we will continue to carry out internal management changes. We will release greater efficiency to innovate and break through. In conclusion, we believe that only those who embrace the change can move forward.

Only those who innovate can grow stronger and only those who reform and innovate will ultimately exceed. Since the first quarter, we've been implementing internal management reforms to unlock greater efficiency, enabling both innovation and breakthroughs. Going forward, we remain committed to our clear long-term approach by aligning with the trends of the new energy era and focusing on the global premium markets. we will drive success amid the ongoing transformation of the global automotive industry.

With that, I would hand over the call to our CFO, Mr. Yuan Jing.

Thanks, everyone. Thank you, Andy.

I will now go over our key financial results for the fourth quarter of this year. Given the time constraint, I will focus on the highlights here and ask you to refer to our earnings press release and 6A announcements for the details. We are pleased to report a robust financial performance for the fourth quarter, our first full quarter since completing the strategic integration of Zika and Lincoln Co., Our strategic initiative delivered both improved profitability and sustained growth across all key metrics. We have reached strong revenue growth and record margins. Our total vehicle deliveries reached 114,011 units in fourth quarter 2025 for a year-over-year growth of 21.4%. Meanwhile, enhanced product competitiveness and stronger brand synergies drove a 16.1 year-over-year increase in vehicle sales revenue as well. We also achieved another record high quarterly vehicle margin through disciplined supply chain management and scale advantages. Our overall vehicle margin rose to 16.5%, up 3.4 percentage points year-over-year, and beaching the guidance of 15% set by management at the beginning of this year. The Zika brand led the way with an all-time high margin of 21.2%, while Lincoln Coast's margin reached 11.4%, reflecting our ongoing focus on cost optimization and premium product mix enhancement. Coast's margin was 19.1% for the fourth quarter, compared with 16.3% for the fourth quarter last year and 18% for the fourth quarter of 2024. We have achieved improving operating efficiency and significant loss reduction. We leverage platform-based R&D and optimize the resource allocation to improve operational efficiency while expanding our vehicle lineup. R&D expenses will remain be 2.9 billion for the fourth quarter of 2025 representing an increase of 25% year-over-year by the decrease of 25.6% quarter-over-quarter, exceeding our savings target of 20% set at the beginning of this year. SG&A expenses were maybe 2.65 billion for the first quarter of 2025, representing a decrease of 9.2% year-over-year and a decrease of 35.8% quarter-over-quarter. Together, higher revenue and improved spending efficiency narrowed down our net loss by 60% year over year to remain be 763 million for the first quarter of 2025. A major step towards sustainable profitability. So before we move to the Q&A session, I would like to address that in order to ensure compliance with disclosure regulations and to prevent inappropriate or misinterpreted remarks from affecting the pending privatization transaction, the company will not comment on matters related to the privatization offer received. A special committee composed of independent directors have been established to evaluate the offer and all communications with the offer will be conducted by this committee. The company will make announcements at appropriate time in accordance with legal disclosure requirements. For updates on privatization offer, please refer to the company's official disclosures. So that concludes my prepared remarks. Thank you, everyone. Let's move on to Q&A. Officer, could you read the Q&A section? Thank you.

We will now begin the question and answer session. To ask a question, you may press star, then 1 on your telephone keypad. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star, then two. For the benefit of all participants on today's call, if you raise your question in Chinese, please immediately repeat your question in English. At this time, we will pause momentarily to assemble our roster. The first question comes from Tina Ho with Goldman Sachs. Please go ahead.

Hi. Thanks, management, for taking my question. So I have two questions. The first one is regarding the first four months' sales volume, wondering if it's in line with management expectations. And then also, do we have an updated sales volume target for 2025 full year, and what would be the main models that's driving driving us to that four-year target. And then the second question is I would just like to see if management has any comments regarding the Judy Otto's provisional offering. We've also noticed that the share price of Zika is already above the offering price. So just wondering what kind of comments if any management has on anything that you can share. Then I will translate it into Chinese. Thank you for the opportunity to ask me a question. The first question is about our sales this year. First of all, I would like to ask the management team about the sales of the previous four months this year. Is it consistent with our previous expectations? And then our sales goal for the whole year of 2025, is there any update? And then the main thing is to drive us to achieve the sales goal of the car type. What will be the main this year? Then the second question, I still want to see if there is anything to say about the proposal of 0175 for our purchase on the management level. Then we also see that the share price of Jike is already above the purchase price. So I want to ask if there is anything to comment on this valuation aspect. Thank you.

Thank you very much. Thank you. So thank you so much for your questions by the Goldman Sachs analyst colleague.

And we acknowledge that our sales performance in April is not that satisfying and Some might find, some might, but we would say that the sales performance is actually in line with our management expectation. And we can say that we stay committed to the sales target of 320,000 vehicles of Zika brand this year and 390,000 vehicles for the Lincoln Co. brand this year. So we stay committed to the 710,000 vehicles of sales volume for the Zika group this year.

Thirdly, in the first quarter and April, our new products, especially in the first quarter, our new products did not enter the market. This has a certain impact on our entire distribution and sales. Also, in the first quarter until April, Our policy has basically not changed. So it has caused a certain impact on our sales in April. But I think through the listing of GT in April, GT of G-Class, and the listing of G-Class 900, through the new product, it can be in May, I believe that there will be a better transformation in April. I also believe that in the future, there will be 9X, 8X, and a medium-sized motorized car. A series of new cars will definitely help our sales.

So we did not have any new products launched in the first quarter, and that has some influence on our sales performance in the first quarter. And also, we did not change our sales business policies in the first quarter, and that also placed a stress on our sales performance in the first quarter as well. But I think since April, we launched a new ZK007GT as well as the Lincoln Core 900. We would have a positive sales performance In May, and I believe in the rest of this year, with the launch of Zika-9X and Zika-8X, and the Lincoln Co. submitted two large-sized sedans, this new product will contribute to the healthy, positive sales performance in the remaining of this year.

The fourth one, you may have seen it in the news. This... We have some changes and adjustments to the marketing organization of G-KER Technology. We are also accelerating the descent of G-KER channels, not only in the G-KER plus mode, but at the same time, we and Link's cooperation to accelerate the descent of channels adopted the G-KER plus agent mode. So this is for us.

And you might have learned from the media reports and that we recently made some change in the organization among the Zika Group's marketing and sales units. and we are also actively expanding our network approach. So in addition to the Zika house we already have, we also introduced the Zika agent mode for us to quickly enter into more lower tier markets. So we have been working on this for over three months and I think we can see positive results from this move in the Q3 and the Q4 this year.

So the second question I just asked is about the management's response to the company's air-conditioning request. I am very embarrassed about this. I am not the chairman of 0175. I also know this information after the announcement. So according to these, in order to ensure the disclosure of information,

To answer your second question, I also would like to say that it's a difficult question. And as a matter of fact, I'm not the board member of Julia Auto 0175 in Hong Kong. And I also learned the move from the public filing. So to ensure the compliance with the disclosure regulations and to prevent inappropriate remarks from affecting the pending privatization transaction. So the company would not comment on the matters related to the privatization offer here.

Jike company has also established . . . . . . . . . And of course, our company takes the privatization offer very seriously.

So a special committee composed of independent directors has been established to evaluate the offer and all communications with the offer will be conducted by this committee. The company will make announcements at appropriate times in accordance with the legal disclosure requirements. For updates on the privatization offer, please refer to the company's official disclosures. But during the period of time, if there's any need from our investors, our company's management will give our full support possible.

After the announcement of Gongba, including the announcement of the performance of Geely Car today, I also communicated with the CEO of Geely Car. If the investors are willing to communicate and communicate with 0175 at the moment, we will cooperate fully.

So after the filing, the publish of the filing by the Agile Auto 0175, and also today at the conference meeting, I also had a conversation with Agile Auto 0175 board members. So if any Zika investors want to further have a conversation, we will give support and make the lines. If our investors would like to have a conversation with our special committee members, our independent directors, we can also make the contact for you. Thank you so much for your understanding.

Okay, thank you for your answer, Mr. An. Thank you.

And your next question comes from Tim Shou with Morgan Stanley. Please go ahead.

Hello, Mr. An. Hello, Mr. Yuan. Thank you for your question. I'm Tim from Morgan Stanley. My question is about the product. After we saw G-Coach X on the site, My question is about the product. because of Zika's first large hybrid SED 9X has received great feedback since its debut at the Shanghai Auto Show. How should we think about the volume contribution and the margin of this model into second half? In the meantime, it would be great to get some feedback or some additional comment about another new model, i.e. Zika 8X in fourth quarter. Thank you.

Okay, thank you. I have one more question. It's a simple question. The Geek 00777, from last April 15th to today, we have achieved 10,000 offline deliveries in a month. In terms of sales, we should say we have received a good recognition from the users. We also released the 009 light gray version last month. After the release of this model, the order exceeded our expectations, especially for some high-end successful subscribers. I'm very happy. The Aeolink 900, which was listed on April 28, has now reached more than 30,000 units. At Link 9000, we are also working hard to produce. We are fighting for more delivery. So from the current situation, I just talked about our future sales. It's still in full swing. From the two models that have been listed, it has been proven so far.

So before answering your questions, I would like to add two points to respond to Tina's question. So first of all, after we launched the 007 GT on the 15th of May, we already achieved 10,000 delivery. So that shows that this model wins the customer's recognition well. And the last month, in April, we also launched the 009 Grand Flexus Edition, and also we received orders far exceeded our previous expectation. For the Lincoln Co. 900, we also received a very high number of orders intake, so our factories are working overtime to ensure timely deliveries to our customers. So based on these very positive market performance of these three models we launched recently, we have confidence that we can achieve ourselves

target this year. So to respond to your question on the Zika 9X and the Zika 8X, I think these two models have a very unique and good positioning.

And both models are positioned at a luxury segment, and they will both be equipped with a super electric hybrid powertrain. So there's a big potential for both models. And after the debut of the Canard X at Shanghai Motor Show, we have received very high attention from the global media outlets and the industry and our customers.

This model, 9X, including 8X, right? It is the world's first super electric vehicle with a total weight of 900 pounds. It is also the fastest charging speed in the world. It has the longest battery life. It accelerates the fastest. The top speed is also the highest electric SUV. With this great super electric vehicle, it can achieve And the ZK9X as well as the ZK8X

have a very, very strong performances. Zika 9X would be worth the first 900-volt part equipped with 900-volt technologies vehicle model. And it would support the fastest charging speed and the longest pure EV driving range and the fastest acceleration. And this is a very unique SUV model in its segment. And powered by the super electric hybrid technology, it combines the good advantage of a pure EV powertrain, the plug-in hybrid powertrain, and the range-extended powertrain. I think this technology will be very leading in the new energy vehicles sector.

It is also China's first and world-leading active vehicle application and

And Zika 9X would be the leader in the application of smart active chassis technologies as well as the level 3 capable assisted driving technologies. So it would become the benchmark in a full-size luxury SUV.

The length of the canal axis is between 5.2 to 5.3 meters.

while the length of Zika 8X will be over 5 meters. So they share a lot of technologies in common, but in different sizes, so they can target different segments.

Through our current judgment, 9X over 8X, its future strength level should be better.

According to our calculations, the ZK9X and ZK8X would have quite impressive margin performance, and they would offer higher vehicle margin of the current level of the current vehicles.

For the future market, our judgment is that the current market The demand for these countries will also cause us to do market research.

我相信已经上表会更好。 So from our perspective, in the large vehicle segment, EV sales growth was not as high as before, whilst the super-electric hybrid would have a very good potential, not just in the Chinese market, but also in the global overseas market, including Europe, the GCC countries, as well as the Southeast Asia markets.

所以国内和海外市场的

So we are in parallel developing the product for our domestic markets as well as for the international markets, aiming to timely deliver them to the global customers.

Thank you.

Thank you, Andrew. One last question. I think we're about to close the time. Thank you.

And the next question comes from Ming Sun Li with Bank of America. Please go ahead.

Hello, Mr. An. Hello, Mr. Yuan. I'm Ming Sun Li from Bank of America. I have a question for you. It's related to the previous question. I'd like to know more about it. We recently launched the Link 900, which has received very good reviews from the market, and the orders are also very good. I'd like to know more about it. In the second half of the year, this is our self-propelled super electric motor technology, which is equipped with 9S and 8S, and the current market already has this, whether it is a hybrid technology or a true technology, or the technology of our Linker brand, what advantage does it have? In addition, I would like to ask the company to predict the type of vehicle equipped with electric motor technology, how much weight it can bring to the company, for example, it used to have this power storage product, and if there is more of this, So Zika has developed the super hybrid technology and the Compared to the current PHEV cars or EREV cars in the market, what is the major advantage for this new technology? And based on your expectation, how much extra volume sales you expect after you provide the super hybrid version of your new models? And in the future, will you also consider to provide the hybrid version for your existing models, or it will be mainly for the models in the future?

The power system used by the Linker 900 Linker brand is EMP. EMP actually shares a relatively high power system with Geely. This technology uses EMP, which is a power system. As for the mechanical structure, it is used by the original company that I developed, SPA Evo. The SPA structure has been upgraded on this technology. The G-KER brand uses high-end, large and medium-sized vehicles. We use

First of all, Lincoln Core 900 is using the EMP powertrain system, which share a lot of technology in common with the GLI's powertrain system. And when it comes to the mechanical architecture, Zika 900 uses SPA EVO architecture and upgrades of the previous SPA architecture. And when it comes to Zika, when we develop the large-size or mid-to-large-size products, we would use SuperH hybrid technology, which is different from the EMP, to differentiate the two brands.

For the technology of SuperH, In terms of characteristics and highlights, I just made some details, and I will make some additions. The power of the ultrasonic battery, whether it is full or out of power, JEC's ultrasonic battery technology can provide the necessary powerful power for top luxury cars. I would like to emphasize that not only in the case of full or out of power, So I have already introduced our super electric hybrid technologies, but I want to make

At some point here, first of all, on the power of our super-electric hybrid technologies, no matter when the battery is fully charged or the battery is running out of electricity, our super-electric hybrid technology can both provide the very good driving performance like any other top-end luxury products, so better beating the performance of existing PF or EREV products in the market.

Secondly, on the fuel efficiency,

No matter the wheels are driven by the e-motor or directly from the gasoline engine, or no matter the vehicle is driving at high speed or low speed, we can always have a very good fuel efficiency.

For the energy, our supercharger is equipped with a battery of about 50 to 80 degrees. This battery uses 900 V. Certainly on the charging, so our super electric hybrid powered product will be equipped with battery pack

of one variant with over 50 kilowatt-hour and another variant around 80 kilowatt-hour. And our powertrain would be equipped with 900-volt ultra-fast charging technology. So we can support ultra-fast charging, providing the best charging experiences to our customers.

Another point is the maintenance of the car. In terms of the technology of this platform, And another very important competitive factor about super-electric hybrid technology is about the maintenance, the services.

And so customers of our SuperH hybrid products, they don't need to go into the maintenance as frequently as the other vehicles, and the cost for maintenance services will be much lower than our peers' products.

总的来说,我相信其他信息,我想不好意思在这儿,我就不能在更多的这个来进行分享了。 我们在这个产品和技术发布会上,当时再给大家进行分享。 And we will share more details

and information about our SuperH hybrid technologies as a product and technology launch event later. But what I can say here is that we hope that our SuperH hybrid technology will be the new benchmark, and our internal target was made when we registered the project. is to contribute 150,000 vehicles to 200,000 vehicles per year for this product, this powertrain product in the future. Thank you.

Thank you.

This concludes our question and answer session. I would like to turn the conference back over to Mr. Yun Jing for any closing remarks.

Thank you all for joining today's call. As Mr. Dan mentioned earlier, the management here is more than happy to facilitate any of your concerns or discussions with either the management or the directors. or our parent company, Zero. So if you have any other questions, please feel free to contact us or the Eagle Group IR team. Have a great day.

Thank you and bye-bye.

Thank you.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.