Aug 19, 06:20 AM

Leapmotor Posts First-Half Profit as Deliveries Surge 156%

Leapmotor Technology swung to a net profit of CNY30 million (USD4.2 million) in the six months to 30 June, reversing a loss of CNY2.2 billion a year earlier. Revenue almost tripled to CNY24.3 billion on the back of surging demand for its lower-priced electric sport-utility vehicles and wider global reach. Gross margin improved to 14.1% from 1.1% as economies of scale and a richer product mix offset cost pressures. The Hangzhou-based automaker delivered 221,664 vehicles in the first half, a 156% increase that led emerging Chinese brands. Overseas shipments reached 20,375 units, and the company now operates more than 600 sales outlets in about 30 markets. The performance sent its Hong Kong-listed shares up about 2% to HKD69.50 in midday trading on 19 August. Leapmotor is only the second Chinese electric-vehicle startup—after Li Auto—to post a semi-annual profit, underscoring the sector’s rapid shakeout. Management raised the firm’s 2025 delivery goal to 580,000–650,000 cars and set a target of one million in 2026, signalling confidence that recent momentum can be sustained despite intensifying competition at home and higher trade barriers abroad.

#Leapmotor Technology #Hangzhou #Chinese #Hong #Leapmotor #Li Auto

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