---
title: "\"Liwenling\" is stable again! Leapmotor \"outshines\" new forces in the same league"
description: "Leapmotor performed well in the new delivery data in August, with a monthly delivery volume of 30,305 vehicles, a year-on-year increase of 113%, becoming the third new force brand to break the 30,000 "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/213156681.md"
published_at: "2024-09-02T00:36:05.000Z"
---

# "Liwenling" is stable again! Leapmotor "outshines" new forces in the same league

> Leapmotor performed well in the new delivery data in August, with a monthly delivery volume of 30,305 vehicles, a year-on-year increase of 113%, becoming the third new force brand to break the 30,000 mark in monthly sales. Its new SUV C16 performed excellently after its launch, with a delivery volume of over 8,000 vehicles in August, meeting the needs of young families. Leapmotor focuses on technological innovation, disregards traffic marketing, and breaks through in competition

When major car manufacturers are all frantically building up traffic, Leapmotor (09863) quietly pushed its monthly delivery volume to 30,000 vehicles, and it took less than 3 months to go from breaking through 20,000 to breaking through 30,000, "leaving behind" many new forces in the same league.

![Image 7.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240902/1725237178152143.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

According to the Intelligent Finance and Economics APP, on September 1st, Leapmotor announced its August delivery data. After continuously breaking through 20,000 vehicles in June and July, August set a new record with a delivery volume of 30,305 vehicles, a year-on-year increase of 113%, becoming the third new force in the automotive industry (only behind Li Auto and Aito) to sell over 30,000 units in a month. In addition, the company's high-value SUV C16, which was listed in June, delivered over 8,000 units in August, far ahead of similar models in the same price range.

In the eyes of investors, Leapmotor is seen as a practical and technically-oriented company. While Xiaomi's cars gained popularity, major car manufacturers are all focusing on generating traffic and building personal IPs. However, Leapmotor's chairman Zhu Jiangming rarely appears in front of the camera. In April, he mentioned to the media that Leapmotor does not rely on Lei Jun's traffic, and prefers to focus on technology. In June, Leapmotor quietly launched the C16, relying on its strong product capabilities and affordable prices to attract a large number of orders, becoming one of the three main models to achieve over 30,000 units in monthly sales.

![Image 2.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240902/1725236873948681.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

So, why are Leapmotor's cars selling well?

Firstly, Leapmotor accurately selects its track, focusing on SUVs for young families, while offering both pure electric and extended-range models to meet the travel needs of different families in cities and on long journeys. Consumer preferences are changing, with the purchasing group for SUVs this year significantly higher than sedans. According to data from the China Passenger Car Association, SUVs maintained double-digit growth in the first 7 months, far exceeding sedans, and new energy SUVs grew by over 40%, 15.6 percentage points higher than sedans.

In August, the company's SUV family accounted for over 72% of deliveries. Compared to its peers, it has launched few models, but each one is a hit. The three SUV models C10/C11/C16, with the first two priced below 200,000, ranked second and third in the industry in terms of sales in the same segment. Although C16 was launched later, it became a hit immediately, with over 8,000 units delivered in August, accounting for over 26%. With the continuous release of orders, the company's three SUV models will continue to drive the company's monthly sales to stabilize above 30,000 units.

Secondly, although Leapmotor does not have an advantage in traffic, it has an advantage in reputation. By providing a service network and high-quality owner services, it has gained positive word-of-mouth from users. To better improve service quality and efficiency, the company has implemented a 1+N model, with one regional center providing 4S service functions, supporting multiple supermarkets or city showrooms within the region. With the official opening of the Lhasa store on August 18th, Leapmotor has achieved comprehensive coverage in mainland China.

![Image 3.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240902/1725236894776238.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

As of July 31st, Leapmotor has a total of 665 stores covering 187 cities, including 152 Leapmotor Centers, 324 Experience Centers, and 189 Service Centers, providing users with integrated sales and service experiences that are convenient and comprehensive.

Of course, building reputation not only relies on service quality but also on product strength. Leapmotor adheres to self-developed technology, technical innovation, and optimized design. In January of this year, it released the latest self-developed technology innovation, LEAP 3.0, with six intelligent electric core technologies. In March, it released the C10\\C11\\C01 "family bucket" equipped with the six core technologies. The popular C16 launched at the end of June is equipped with the industry-leading "Four-Leaf Clover" central integrated electronic electrical architecture, advanced driving assistance system with Orin-X+ LiDAR hardware, and the flagship intelligent cockpit chip SA8295P from Qualcomm, achieving a truly software-defined car product.

![Image 4.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240902/1725236911929133.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Lastly, affordability is crucial. In a competitive environment, pricing is key. Leapmotor is known in the market as the "King of Value," not because of low pricing, as its three SUV models are priced in the range of 150,000 to 200,000 yuan, but because of its high value-for-money pricing, dominating its peers. For example, the C16, in terms of configuration, is comparable to models priced above 300,000 yuan, with higher intelligence and cabin comfort than BBA models priced over 300,000 yuan.

How does Leapmotor achieve its affordable pricing? Firstly, by insisting on self-development, with core components accounting for over 60% of the total vehicle cost being self-developed and manufactured, saving costs. Secondly, through multi-module innovative technologies such as central integrated electronic architecture and battery-chassis integration technology, saving hardware costs. Thirdly, by pricing based on costs and passing on the optimized profit margins to users.

Sales performance reflects in financial results. Recently, the company announced its mid-term performance for 2024, achieving revenue of 8.85 billion yuan, a year-on-year increase of 52.2%. The gross profit margin improved to 2.8% in the second quarter, achieving gross profit for two and a half consecutive years. Additionally, the company achieved a net operating cash flow of 270 million yuan. Sales in the first two months of Q3 are similar to Q2, with expected high revenue growth, continuous improvement in profitability, and cash flow.

Leapmotor's fundamentals remain strong. On August 26th, the company announced that its chairman Zhu Jiangming and concerted action parties would increase their holdings by no more than 300 million yuan in the next 6 months. Just four days later, they swiftly increased their holdings, acquiring 5,068,500 shares on August 30th, amounting to approximately 102 million Hong Kong dollars Zhu Jiangming supports Leapmotor's development with real money and is expected to continue increasing his holdings in the future, demonstrating the founder's confidence in the company's long-term prospects.

![Image 5.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240902/1725236932422480.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Currently, the performance of the Hong Kong stock market is weak. In a bear market environment with tight liquidity in the Hong Kong stock market, the market value performance of major car companies is not ideal. To boost market confidence in brand development, major shareholders and senior executives of various car companies continue to increase their holdings to gain investor recognition, such as He Xiaopeng of XPeng. Both founders increased their holdings, but Zhu Jiangming and the concerted action parties have a stronger belief in Leapmotor's development and long-term prospects. Prior to this increase in holdings, they had promised not to reduce their holdings within ten years.

In November last year, Leapmotor announced on the Hong Kong Stock Exchange that Zhu Jiangming and the concerted action parties voluntarily committed not to transfer or reduce their holdings in the company's shares in any way for the next 10 years from the announcement date. Among listed companies, it is common for founder teams to commit not to reduce their holdings, but there are not many cases with a commitment period of ten years. This shows that the company aims to promote the continuous, stable, and healthy development of the company, and maintain the confidence of the general public investors.

From an industry perspective, the top brand landscape is stable, while the tail brands are still in turmoil. On one hand, the new energy vehicle substitution and incremental market are still significant. On the other hand, in a highly competitive environment, fewer brands with strong product capabilities and reputation will survive. Leapmotor has firmly established itself in the forefront of new forces, with monthly sales exceeding 30,000 just the beginning. In the fourth quarter, the company will unveil its first product B10 on a new platform at the Paris Motor Show. This model is aimed at global young consumers and is expected to become the next popular model.

Leapmotor's reach has extended overseas. In May of this year, together with strategic shareholder Stellantis Group, Leapmotor International was established, becoming the first reverse joint venture company in the Chinese automotive industry. In July, Leapmotor International shipped the first batch of Leapmotor electric vehicles from China to Europe, and will start selling the Leapmotor C10 and T03 electric vehicles in 9 European countries from September this year. The company also plans to expand its sales network to 200 outlets in Europe by the end of 2024. In addition, from the fourth quarter of 2024, Leapmotor International will also launch the C10 and T03 models in the Middle East, Africa, Asia-Pacific, and South American markets.

![Image 6.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240902/1725236973591646.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

The current new energy vehicle industry is like the smartphone industry of the past, where only a few brands will survive in the future. Leapmotor focuses on product strength and continues to create popular models with high value for money. At this stage, it firmly holds a leading position among new forces. By 2025, with product cycles and joint efforts in the domestic and overseas markets, it will continue to consolidate its position in the industry Practical and conscientious new forces in car manufacturing like Leapmotor, which bring happiness to users, lead in both sales and reputation among peers, and are expected to enter the final round of the car manufacturing marathon

### Related Stocks

- [09863.HK - LEAPMOTOR](https://longbridge.com/en/quote/09863.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
