Leapmotor achieved positive semi - annual net profit for the first time. It officially announced two flagship new cars and set a goal of one million sales for next year.

Leapmotor achieved positive semi - annual net profit for the first time in the first half of the year and raised its 2025 sales guidance to 580,000 - 650,000 vehicles.

According to a report from CheDongXi on August 18th, Zhejiang Leapmotor Technology Co., Ltd. (hereinafter referred to as Leapmotor) held its 2025 mid - year earnings conference call. Zhu Jiangming, the founder, chairman, and CEO of Leapmotor, and Cao Li, the executive director and senior vice - president, did not attend this conference call.

Li Tengfei, the vice - president and CFO of Leapmotor, Wu Qiang, the co - president of Leapmotor, and Shen Ke, the secretary of the board of directors of Leapmotor, responded to questions related to Leapmotor's 2025 mid - year performance at the meeting.

During the conference call, the three mainly answered about 20 questions, among which there were 4 key questions:

1. Raise the 2025 sales guidance to 580,000 - 650,000 vehicles and aim for an annual sales volume of 1 million vehicles in 2026.

2. The D - series models will make their public debut as early as October this year and be launched in the first quarter of next year. There will be SUV and MPV products.

3. In terms of assisted driving, it is expected to achieve urban NOA by the end of this year and enter the first echelon of assisted driving by the end of this year or early next year.

4. It is expected to achieve local production in Europe next year, and the B - series models will be put into production in Europe first.

According to the financial report, Leapmotor's revenue in the first half of 2025 was RMB 24.25 billion, an increase of 174.0% compared with RMB 8.85 billion in the first half of 2024, almost tripling.

Main financial report data of Leapmotor in the first half of 2025

In terms of net profit, in the first half of 2025, Leapmotor achieved positive semi - annual net profit for the first time, with a semi - annual net profit of RMB 30 million.

In terms of gross profit margin, Leapmotor's gross profit margin in the first half of 2025 reached a new high since the company's establishment, rising from 1.1% in the first half of 2024 to 14.1% in the first half of 2025, an increase of 13 percentage points.

In terms of sales volume, in the first half of 2025, Leapmotor's total delivery volume was 221,700 vehicles, a year - on - year increase of 155.7%. Leapmotor said that it ranked first in the sales volume of Chinese new - energy vehicle startups.

Some financial data of Leapmotor in the first half of 2025

Overall, Leapmotor had significant growth in revenue, gross profit margin, and sales volume in the first half of 2025 and achieved positive semi - annual net profit for the first time, presenting an outstanding semi - annual financial report.

01.

Raise the 2025 sales guidance

The D - series models will make their public debut as early as October

At the earnings conference, Li Tengfei, Wu Qiang, and Shen Ke answered about 20 questions. CheDongXi sorted out the answers and integrated similar content:

1. Raise the 2025 sales guidance to 580,000 - 650,000 vehicles.

In terms of sales guidance, Leapmotor said that it expects the sales volume from August to September to continue to grow, and the sales volume in August will increase significantly compared with 50,000 vehicles in July.

Meanwhile, Leapmotor expects the sales volume in the third quarter of 2025 to be between 170,000 and 180,000 vehicles. The 2025 delivery guidance has been raised from 500,000 - 600,000 vehicles to 580,000 - 650,000 vehicles, and the sales guidance for the overseas market remains unchanged at 50,000 vehicles.

2. Aim for an annual sales volume of 1 million vehicles in 2026.

Regarding the sales guidance for next year, Leapmotor said that it will aim for an annual sales volume of 1 million vehicles in 2026.

3. Strive for an annual net profit in the range of RMB 500 million - 1 billion.

In terms of gross profit margin, Leapmotor said that it expects the gross profit margin in the second half of 2025 to be better than that in the first half and strive for a slight increase. The expected annual gross profit margin for 2025 is 14% - 15%. It also revealed that the gross profit margin of Leapmotor's complete vehicles in the first half of 2025 was about 12%.

In addition, Leapmotor also mentioned that it aims to achieve annual profitability in 2025 and strive for a net profit in the range of RMB 500 million - 1 billion.

4. Leapmotor has always adhered to a 60 - day payment term.

Regarding "anti - involution", Leapmotor said that it has been pricing based on its own technological capabilities and development strategies and has always adhered to a 60 - day payment term.

5. The D - series models will make their public debut as early as October this year.

In terms of subsequent products, the Leapmotor B05 will make its global debut at the Munich Auto Show and be launched in the Chinese market in November this year.

Meanwhile, as a heavy - weight product integrating Leapmotor's ten - year car - making capabilities and experience, the D - series models will make their public debut as early as October this year.

6. The D - series models will be launched in the first quarter of next year.

Regarding the product strategy of Leapmotor's D - series models, Leapmotor said that the D - series models will be launched in the first quarter of next year, including SUV and MPV products.

Since the D - series will face more intense competition in the segmented market, Leapmotor will maintain strategic focus, adhere to full - domain self - research, and uphold high - quality and cost - effective products.

7. It is expected to enter the first echelon of assisted driving as early as the end of this year.

In terms of the assisted driving roadmap, Leapmotor said that it will fully develop assisted driving, aiming to achieve urban NOA by the end of this year and enter the first echelon of assisted driving by the end of this year or early next year.

Assisted driving functions equipped on the Leapmotor B01 model

8. The B - series models will be put into production in Europe first.

In terms of going global, Leapmotor expects to achieve local production in Europe next year, and the B - series models will be the first to be put into production. Leapmotor hopes that the sales volume next year will double compared with this year and double again the year after next. Meanwhile, it will set the overseas sales guidance for next year based on the overseas sales situation in the second half of this year.

In addition, the B - series model B10 will also be unveiled at the Munich Auto Show. The B10 will also offer an extended - range power version overseas and will be launched overseas at the end of this year or early next year. In the future, the A - series will also be launched overseas, and the extended - range version of the C10 will also be sold in Europe.

Leapmotor B10

Leapmotor also mentioned that in the short term, it does not pursue high gross profit overseas but rather focuses on rapid volume growth to gain recognition from overseas consumers.

9. There is assistance from Stellantis in overseas production capacity.

In terms of overseas production capacity, Leapmotor said that with the assistance of Stellantis, there is no need to worry about the overall overseas production capacity, which will grow very fast. As sales volume increases, the production capacity will further expand.

10. The change in the purchase tax policy will only have a short - term impact on sales volume.

Regarding the impact of the change in the purchase tax policy on sales volume, Leapmotor believes that it may have some impact from January to February next year, but it will only be a short - term impact. Meanwhile, Leapmotor said that it expects the overall sales volume of the domestic auto market to continue to increase next year.

02.

Achieved positive semi - annual net profit for the first time

The gross profit margin reached a new high since the company's establishment

From the financial report, it can be seen that Leapmotor is very confident in its performance and subsequent development, which is naturally supported by its strong performance in the 2025 mid - year performance announcement.

According to the mid - year performance announcement of Zhejiang Leapmotor Technology Co., Ltd. (hereinafter referred to as Leapmotor) for the six - month period ended June 30, 2025, Leapmotor's revenue in the first half of 2025 was RMB 24.25 billion, an increase of 174.0% compared with RMB 8.85 billion in the first half of 2024.

Leapmotor's revenue in the first half of 2025

Leapmotor explained that this is mainly due to the increase in the delivery volume of complete vehicles and spare parts, the increase in revenue from strategic cooperation and carbon credit trading, and the increase in related service revenue driven by the growth of complete vehicle delivery volume.

Leapmotor's gross profit margin in the first half of 2025 reached a new high since the company's establishment, rising from 1.1% in the first half of 2024 to 14.1% in the first half of 2025.

Leapmotor's gross profit in the first half of 2025

Leapmotor explained that the increase in gross profit margin is mainly due to the scale effect brought by the increase in sales volume, continuous cost management work, optimization of the product portfolio, and income from other businesses.

In the first half of 2025, Leapmotor's semi - annual net profit was RMB 30 million, achieving positive semi - annual net profit for the first time. Leapmotor said that it has become the second Chinese new - energy vehicle startup to achieve semi - annual profitability. Previously, Li Auto achieved semi - annual profitability for the first time in the first half of 2023.

Leapmotor achieved positive semi - annual net profit for the first time in the first half of 2025

In terms of sales volume, in the first half of 2025, Leapmotor's total delivery volume was 221,700 vehicles, a year - on - year increase of 155.7%. Leapmotor said that it ranked first in the sales volume of Chinese new - energy vehicle startups.

In July 2025, Leapmotor's delivery volume reached a new high of 50,129 vehicles, ranking first in the sales volume of Chinese new - energy vehicle startups for five consecutive months. It is also the only Chinese new - energy vehicle startup with a monthly delivery volume of over 50,000 vehicles since 2025.

Leapmotor's delivery volume in the first half of 2025

Among them, Leapmotor exported 20,375 vehicles in the first half of 2025. In June, Leapmotor's market share in the German BEV market exceeded 1%. In July, more than 4,000 European users placed orders for Leapmotor's products, a record high.