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Technology Stocks : "NIO, XPEV, LI, BYD.. China's Quads
BYDDF 12.55+1.5%12:45 PM EST
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From: Julius Wong10/6/2024 8:08:20 AM
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This Chinese electric vehicle stock may be the biggest sleeper in the sector

ZEEKR Intelligent Technology Holding (NYSE: ZK) is a Chinese electric vehicle stock with one of the biggest share price moves after Beijing's stimulus announcements jolted markets broadly in China and Hong Kong. The EV stock is up more than 60% over the last two weeks and trades back above its IPO pricing level of $21.

The Chinese electric vehicle maker delivered 21,333 vehicles in September, which marked a 77% year-over-year increase. On a year-to-date basis, deliveries were up 81% year-over-year through three quarters. ZEEKR's ( ZK) financial performance has also been impressive, with total revenue in 2023 reaching 51.7 billion yuan, representing 62% year-over-year growth. ZEEKR ( ZK) also posted a gross margin rate of 17.2% in Q2 of this year, which was one of the highest in the EV sector. "We made significant strides in optimizing costs while maintaining high-quality delivery standards, contributing to sustainable margin and profitability improvement," stated ZEEKR ( ZK) CFO Jing Yuan. "Moving forward, we remain dedicated to improving product quality, expanding our market share and propelling the sustainable growth of our business," he added.

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