<div id="readability-page-1"><div><p>CLSA issued a report stating that LEAPMOTOR (09863.HK)<span> </span><span> -3.940 (-8.713%)  </span> <span> Short selling $225.62M; Ratio 27.126%  </span>  recorded a net loss of RMB390 million in 1Q26, in line with the brokers expectations. Despite weak profitability in the first quarter due to softness in the domestic market, the broker expects sales to rebound in the second quarter, with a positive shift in product mix and a higher contribution from the D series models. Overseas market potential continues to build, with new models expected to be launched in the third quarter alongside the commencement of localized production.</p><p>The broker slightly raised its 2026 domestic and export sales forecasts to 721,000 units and 178,000 units, respectively. However, it lowered its 2026 earnings forecast due to potential cost pressures in the coming quarters. The Outperform rating and TP of HKD60 are maintained. (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-18 12:25.)</p></div></div>

09863

562700

159323

159565

515030

562260

159306

516110

516380

<p>CLSA reported that LEAPMOTORrecorded a net loss of RMB390 million in 1Q26, aligning with expectations. Despite weak profitability, sales are expected to rebound in Q2, with a raised forecast for 2026 domestic and export sales to 721,000 and 178,000 units, respectively. However, earnings forecast was lowered due to potential cost pressures. The Outperform rating and target price of HKD60 remain unchanged.</p>

AASTOCKS News

LEAPMOTOR

ChinaAMC CSI Auto Components Thematic ETF

ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

E Fund CSI Auto Components Thematic ETF

Hua Xia CSI New Energy Vehicles ETF

HFT CSI Auto Components Thematic ETF

Ping An CSI Auto Components Thematic ETF

Guotai CSI 800 Automobile and Parts ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

CLSA: LEAPMOTOR  1Q26 Results In Line; Slightly Raises Full-Year Sales Forecast