09863 Overview

New Innovation Center: LEAPMOTOR has opened its first overseas innovation center in Munich, Germany, marking a significant step in its globalization strategy.

Financial Performance: The company reported an annual profit of RMB540 million, indicating a positive financial turnaround.

JPMorgan's Predictions: JPMorgan's research report forecasts that GEELY AUTO and SINOTRUK will exceed market expectations this year, despite challenges from rising demand and input costs.

Potential Upside for NIO and XPENG: NIO and XPENG are expected to show significant growth potential in the second half of 2026, driven by specific factors unique to each company.

Market Rebound for BYD and Leapmotor: BYD and Leapmotor are anticipated to recover gradually after their March earnings announcements, as the market has adjusted to more realistic earnings forecasts.

Overall Industry Outlook: The Chinese auto industry is projected to rebound in the second quarter of 2026, with a 30% increase in passenger vehicle demand, aided by improved customer traffic ahead of the Beijing Auto Show.

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 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.

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.

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.