China’s Zeekr reveals revenue surge in updated financials ahead of US IPO

(Reuters) – China-based Zeekr Intelligent’s revenue nearly doubled in the first nine months of the year, the electric car brand revealed in its updated paperwork filed with the U.S. securities regulator on Friday for its initial public offering.

Zeekr, owned by Chinese automaker Geely Auto, had made its listing prospectus public earlier this month after confidentially filing in December to float its shares in New York.

The company said its total revenue surged to 35.31 billion yuan ($4.90 billion) in the nine months ended Sept. 30, compared with 18.47 billion yuan a year earlier.

However, its loss from operations widened to 5.23 billion yuan from 4.90 billion yuan.

In February, Zeekr was valued at $13 billion after a $750 million funding round from investors including Amnon Shashua, CEO and founder of autonomous driving technology company Mobileye Global, and the Guangzhou city municipal government’s investment arm, Yuexiu Industrial Fund.

Zeekr is yet to disclose the size and the proposed price range for its offering.

($1 = 7.2111 Chinese yuan renminbi)

(Reporting by Manya Saini in Bengaluru; Editing by Maju Samuel)