BofAS Increases LEAPMOTOR (09863.HK) Price Target to $90 and Upgrades Sales and Profit Projections
Sales Performance: LEAPMOTOR's 2Q25 sales surged by 166% year-over-year and 42% quarter-over-quarter, aligning with expectations from BofA Securities.
Profitability Metrics: The company reported a net profit of RMB163 million, exceeding forecasts, while the gross margin was 13.6%, slightly lower than the previous quarter but above predictions.
Forecast Adjustments: BofA Securities raised its sales forecasts for LEAPMOTOR for 2025-2027 by 9%, 18%, and 17%, respectively, alongside an increase in gross margin projections.
Target Price Update: CLSA has lifted LEAPMOTOR's target price to $80, while BofA increased its target from $79 to $90, maintaining a "Buy" rating due to strong product cycles driving profitability.
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LEAPMOTOR Reports Total Deliveries of 28,067 Units for February Across Entire Series
Delivery Performance: LEAPMOTOR reported a total delivery volume of 28,067 units for February 2026, with nearly 600,000 units delivered in 2025, marking a 103% year-over-year increase and setting a new annual sales record.
Export Success: The company achieved over 67,000 units in overseas exports for 2025, leading among new car-making forces in export numbers.
LEAPMOTOR Launches Online Reporting System for Black PR Activities, with Rewards Up to RMB 5 Million
LEAPMOTOR Initiative: LEAPMOTOR has launched an initiative to combat online black PR activities by opening a public reporting channel, effective immediately.
Reward System: The company is offering rewards ranging from RMB50,000 to RMB5 million for individuals who provide valid leads related to these activities.
Dataforce: Chinese Automakers' Market Shares in Europe Decline in January
Chinese Automakers' Market Share Decline: Chinese automakers, including BYD and SAIC's MG, saw a decrease in their hybrid model market share in Europe, dropping to 15% in January, down nearly 3 percentage points from December.
LEAPMOTOR's Growth Slowdown: LEAPMOTOR experienced a slowdown in growth in January after a strong performance last year, indicating potential challenges for the brand in maintaining momentum.
German Delegation in China: BMW Chairman Meets with LEAPMOTOR Chairman
Chancellor's Visit: German Chancellor Friedrich Merz visited Hangzhou, engaging with Chinese companies like Yushu Technology and LEAPMOTOR.
LEAPMOTOR's Expansion: LEAPMOTOR has established a significant international presence, exporting over 67,000 vehicles last year and operating in 35 countries with more than 800 outlets.
HSBC Research: BYD's Introduction of 'Super e-Platform' Could Enhance Technology Standards; Autonomous Driving Achievements Expected Soon
BYD's Upcoming Launch: BYD COMPANY is set to launch the "Super e-Platform" in early March, which is expected to improve technical standards, particularly in range and efficiency, and influence competitive strategies in the second quarter.
Market Trends and Caution: Preliminary data from mid-February should be interpreted cautiously due to the Lunar New Year impact, with expectations for trends to normalize in March and April.
Investment Recommendations: HSBC Global Investment Research recommends investing in companies with scale and clear catalysts, favoring BYD, LEAPMOTOR, XPeng, HORIZONROBOT, CATL, and TUOPU GROUP.
Stock Ratings and Target Prices: The report includes investment ratings and target prices for various stocks, with BYD COMPANY rated as a "Buy" with a target price of HK$139.
JPM Cuts LI AUTO-W Rating to Underweight; Recommends GEELY AUTO and SINOTRUK as Top Choices
Market Outlook: JP Morgan predicts the Chinese automobile market will experience a mixed performance in 2023, with potential negative growth similar to 2018, but also volatility driven by new model releases and seasonal trends akin to 2025.
Top Picks: The broker's top stock picks include GEELY AUTO and SINOTRUK, while they see potential in BYD COMPANY, LEAPMOTOR, XPENG-W, and NIO for future positioning.
Investment Ratings: JP Morgan has assigned various investment ratings and target prices for several automobile stocks, with BYD COMPANY and SINOTRUK rated as "Overweight," while LI AUTO-W has been downgraded to "Underweight."
Short Selling Data: The report includes short selling data for the stocks mentioned, indicating varying levels of market sentiment and potential risks associated with each stock.
LEAPMOTOR Reports Total Deliveries of 28,067 Units for February Across Entire Series
Delivery Performance: LEAPMOTOR reported a total delivery volume of 28,067 units for February 2026, with nearly 600,000 units delivered in 2025, marking a 103% year-over-year increase and setting a new annual sales record.
Export Success: The company achieved over 67,000 units in overseas exports for 2025, leading among new car-making forces in export numbers.
LEAPMOTOR Launches Online Reporting System for Black PR Activities, with Rewards Up to RMB 5 Million
LEAPMOTOR Initiative: LEAPMOTOR has launched an initiative to combat online black PR activities by opening a public reporting channel, effective immediately.
Reward System: The company is offering rewards ranging from RMB50,000 to RMB5 million for individuals who provide valid leads related to these activities.
Dataforce: Chinese Automakers' Market Shares in Europe Decline in January
Chinese Automakers' Market Share Decline: Chinese automakers, including BYD and SAIC's MG, saw a decrease in their hybrid model market share in Europe, dropping to 15% in January, down nearly 3 percentage points from December.
LEAPMOTOR's Growth Slowdown: LEAPMOTOR experienced a slowdown in growth in January after a strong performance last year, indicating potential challenges for the brand in maintaining momentum.
German Delegation in China: BMW Chairman Meets with LEAPMOTOR Chairman
Chancellor's Visit: German Chancellor Friedrich Merz visited Hangzhou, engaging with Chinese companies like Yushu Technology and LEAPMOTOR.
LEAPMOTOR's Expansion: LEAPMOTOR has established a significant international presence, exporting over 67,000 vehicles last year and operating in 35 countries with more than 800 outlets.
HSBC Research: BYD's Introduction of 'Super e-Platform' Could Enhance Technology Standards; Autonomous Driving Achievements Expected Soon
BYD's Upcoming Launch: BYD COMPANY is set to launch the "Super e-Platform" in early March, which is expected to improve technical standards, particularly in range and efficiency, and influence competitive strategies in the second quarter.
Market Trends and Caution: Preliminary data from mid-February should be interpreted cautiously due to the Lunar New Year impact, with expectations for trends to normalize in March and April.
Investment Recommendations: HSBC Global Investment Research recommends investing in companies with scale and clear catalysts, favoring BYD, LEAPMOTOR, XPeng, HORIZONROBOT, CATL, and TUOPU GROUP.
Stock Ratings and Target Prices: The report includes investment ratings and target prices for various stocks, with BYD COMPANY rated as a "Buy" with a target price of HK$139.
JPM Cuts LI AUTO-W Rating to Underweight; Recommends GEELY AUTO and SINOTRUK as Top Choices
Market Outlook: JP Morgan predicts the Chinese automobile market will experience a mixed performance in 2023, with potential negative growth similar to 2018, but also volatility driven by new model releases and seasonal trends akin to 2025.
Top Picks: The broker's top stock picks include GEELY AUTO and SINOTRUK, while they see potential in BYD COMPANY, LEAPMOTOR, XPENG-W, and NIO for future positioning.
Investment Ratings: JP Morgan has assigned various investment ratings and target prices for several automobile stocks, with BYD COMPANY and SINOTRUK rated as "Overweight," while LI AUTO-W has been downgraded to "Underweight."
Short Selling Data: The report includes short selling data for the stocks mentioned, indicating varying levels of market sentiment and potential risks associated with each stock.
