On April 3, according to media reports, Geely's zeekr has restarted its IPO program in the U.S., which could raise up to $500 million (about 36.RMB 2.5 billion)。

According to the news, on November 10 last year, Geely Automobile announced on the Hong Kong Stock Exchange that polar krypton has submitted a registration statement to the SEC, and it is expected that zeekr American depositary shares will be listed on the New York Stock Exchange under the stock code "ZK."。

However, due to serious disagreement between investors on the valuation of zeekr and the company, zeekr suspended its listing plans in the United States: investors believe that the potential size of polar krypton's initial IPO in the United States is $500 million, which is far below the company's previous target of more than $1 billion.。

In response to the resumption of the zeekr listing plan, the company said it had filed with the U.S. Securities and Exchange Commission (SEC) and was preparing for it.

On Monday, according to data released by Geely Automobile Holdings Limited, Geely's March sales were 15.080,000 vehicles, up 39% year-on-year and 35% month-on-month; cumulative sales in January-March reached 47.570,000 vehicles, up 49% year-on-year. Among them, Geely's export sales in the first quarter were 8.70,000 vehicles, up 66% year-on-year。

Specific to the extreme krypton brand, sales in March were 1.30,000 vehicles, up more than 95% year-on-year; cumulative sales in the first quarter reached 330,000 units, up 1.17 times. Among them, the four models on sale under zeekr have become the benchmark of the market segment, and the fifth model is officially named zeekr MIX, which will enter more market segments with a richer product sequence.

In the announcement, Geely said it expects the sale of zeekr to take place when market conditions permit and will not be made until the SEC declares the registration statement to be effective. As of the date of publication, the number and amount of ADSs offered and sold in the zeekr offering have not been determined."There is no assurance that the proposed spin-off or zeekr offering will be implemented or when."

After the data was released, An Conghui, President of Geely Holding Group and CEO of zeekr Intelligent Technology, said: "In the electric vehicle brand, under the same sales volume, the gross profit margin of Extreme Krypton must be better than others.On the one hand, the vertical integration ability of the industrial chain has been reflected, and the core technology has been mastered; on the other hand, the synergy effect of Geely Automobile has begun to appear, and the brand strategic advantage has gradually formed.

An Conghui also said that in 2024, "zeekr will add three new models to enter more market segments, in the premise of increased sales and rising gross profit, and strive to achieve the goal of turning losses into profits under Hong Kong accounting standards."

According to the initial IPO prospectus filed by Pzeekr, zeekr Group had revenues of 212，700 million yuan, in the first half of 2023，up to 136% year-on-year; of which vehicle sales revenue 131.7.5 billion yuan, up 148.75%; vehicle gross margin of 12.3%, up 7.6%。

It is understood that in February last year, zeekr on completed $7.500 million (currently about 54.3.8 billion yuan) of Series A financing, with a post-investment valuation of $13 billion (currently about 942.RMB 500 million), with investors including Amnon Shashua, founder and CEO of Mobileye Global, and Ningde Times, the world's power battery giant.

It is worth noting that the size of Chinese IPOs to the U.S. in the first quarter of 2024 has fallen to the freezing point since the beginning of 2017.For the entire quarter, only six Chinese companies made IPOs in the U.S., raising $46.9 million, down from $4.28 billion in the same period last year.