CT-LEAP@EC2611A

Stellantis Plans to Co-produce E-Car EV with Leapmotor, Production Set for 2028

JPMorgan: Leapmotor Q1 Earnings Beat Expectations, Maintains Overweight Rating with HK$90 Target

CLSA Report: Leapmotor Q1 Loss of 390M RMB Met Expectations, Sales Forecast Raised, Profit Cut, Maintain Outperform Rating

Citi: Leapmotor Q1 Profit in Line, Expected to Break Even in Q2, Buy Rating Maintained

Leapmotor Q1 Loss Expands to 390 Million RMB, Gross Margin Drops to 9.4%

Leapmotor Releases 1Q26 Earnings: Maintains 1M Annual Sales Target, Gross Margin Expected to Rise to 12%-13%

Leapmotor partners with Stellantis for South America localization and co-production with Opel

Leapmotor Announces Second Brand Plan: Launching as Early as End of Year, Sales Next Year

Leapmotor Q1 Deliveries Hit 110,155 Units, Beating Estimates

Leapmotor reports Q1 2026 revenue of 10.82 billion RMB, up 8% YoY

Leapmotor and Stellantis Deepen Cooperation to Accelerate European Electric Vehicle Market Layout

Stellantis NV Expands Cooperation with Zero Run to Produce New Electric Vehicles in Spain

Leapmotor Launches €49 Monthly Rental Plan to Expand in Germany

LEAPMOTOR to Release FY2026 Q1 Earnings on May 15 After-Market BJT

Leapmotor Announces New April Delivery Record and Launches Purchase Promotion

Leapmotor Announced April Sales of 28,611 Units

Leapmotor C10 Global Sales 16650 Units in April

Zero Run Car B10 &amp; B01 Series Accumulated 199,899 Users

Leapmotor's New Model D19 Receives Over 15,000 Pre-orders in 15 Days Since Launch

Leapmotor Announced 73.9% Year-over-year Growth in April Deliveries

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JPMorgan reported that LEAPMOTOR's 1Q results exceeded market expectations, with a smaller loss than anticipated. The company aims for 1 million unit sales by FY26, supported by strong order momentum and overseas expansion. JPM maintained an Overweight rating with a target price of HKD90, forecasting 60% YoY growth and a net profit of RMB2.6 billion for FY26, despite raw material inflation concerns.

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JPM: LEAPMOTOR  1Q Results Beat Market Expectations, Reiterates Overweight with TP HKD90

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LI AUTO-W(02015) fell 14.15%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 0.1%. LDROBOT(01236) fell 10.37%, with a trading turnover 30.5 Million HKD, and a year-to-date rose 56.7%. CHINA STAR ENT(00326) fell 9.84%, with a trading turnover 26.0 Million HKD, and a year-to-date rose 110.7%.

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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.

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

Citi has lowered LEAPMOTOR's target price from HKD100 to HKD98, maintaining a Buy rating. The company's profitability in Q1 met expectations, but gross margin fell short due to a higher sales proportion of lower-priced B-series models. Citi anticipates a rebound in gross margin to 12-13% in Q2, supported by increased vehicle deliveries and the introduction of the D19 model. LEAPMOTOR is expected to break even in Q2 after accounting for R&D and selling expenses.

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Citi Cuts LEAPMOTOR  TP to HKD98, Expects Breakeven in 2Q

Leapmotor's stockopened with a 3.23% decline. According to Jin10, the company reported a net loss of 3.9 billion RMB for the first quarter of 2026. The increased loss compared to the previous year is attributed to a decrease in gross profit and higher expenses.

CoinLive

Leapmotor's Q1 2026 Net Loss Widens by 3.9 Billion RMB

Below is Dolphin Research's Trans of $LEAPMOTOR(09863.HK) Q1 26 earnings call. For our earnings take, see 'Leapmotor: Aiming for 1mn, is GPM slipping first?'. I. Key highlights: 1) Guidance — Q2 26 delivery guidance of 240–250k units (April alone exceeded 70k)...

Leapmotor (Trans): Q2 GPM guide at 12–13%; confident to hit 1m units

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$LEAPMOTOR(09863.HK) released its Q1 2026 results after the HK close on May 15 (BJT). The print marked a departure from Leapmotor’s historically steady execution.Despite a seasonal soft quarter for the industry, volumes were still decent and opex discipline was reasonable. However, both revenue and GP missed, with per-vehicle GP well below street expectations.On the details: revenue missed as ASP fell further on a shift toward lower-end models. Q1 revenue was RMB 10.82bn (+8% YoY)...

Leapmotor: Aiming for 1mn Units, Is GPM the First to Slip?

Leapmotor has confirmed plans to launch a second brand, expected to debut by the end of this year, targeting the high-end EV market with models priced above 300,000 yuan. The company reported a revenue increase of 8% year-on-year in Q1, but faced a widening net loss. Leapmotor aims to establish an independent sales network for the new brand, separate from its current offerings.

CnEVPost

Leapmotor confirms second brand plans

Leapmotor 1Q26 First Take: Overall, the first quarter of FY26 did not carry forward the company's usual operational discipline. The print is concerning. Despite a decent delivery print for an industry off-season and reasonable cost control, both revenue and GP fell short. Revenue was RMB 10.82bn, a slight miss vs. market. GP missed by about 40%, which weighed on sentiment. On margins, GPM fell 550bps YoY; even stripping out roughly RMB 200mn of GP uplift from strategic partnerships, GPM was still down 390bps YoY. Management added that lower output increased per-unit manufacturing costs. The market has largely priced in several factors. 1) Management had guided to a sequential decline for Q1 due to seasonality on the Q4 call. This was flagged in advance.2) Mix shifted down-market as T03 rose from 11% in Q4 to 22% in Q1, while the lower-price A10 started to ramp in Mar, pressuring ASP. This further diluted the model mix. On opex: selling expenses were RMB 680mn, seasonally softer and broadly in line. R&amp;D was RMB 1.04bn, a slight miss tied to project timing. G&amp;A came in at RMB 440mn vs. the market’s RMB 420mn, essentially in line and largely seasonal. OP was -RMB 410mn, better than the market’s -RMB 540mn, implying sizable non-recurring items this quarter. More color should come on the call.a) Management’s explanation for the per-vehicle margin decline. Details will help quantify the impact.b) Q2 guidance. It will frame the near-term recovery trajectory.c) Sustainability of the strategic partnership uplift. This affects visibility on GP support. Dolphin Research will publish a follow-up note; stay tuned. $LEAPMOTOR(09863.HK)

Leapmotor reported a first-quarter revenue of 10.82 billion yuan, an 8% year-on-year increase, marking its best first quarter. However, the net loss widened to 390 million yuan due to a drop in gross margin to 9.4%. Vehicle deliveries rose 25.8% year-on-year, with significant exports contributing to growth. The company anticipates continued sales momentum with strong demand for newly launched models.

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Leapmotor sees Q1 net loss widen despite sales growth

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Sanhua Intelligent Controls (1Q26 Trans): Still Targeting 15% YoY Net Profit Growth

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We maintain the 2026 net profit target at RMB 5 bn. Guidance unchanged.

Sensata Tech

Leapmotor (4Q25 Trans): 2026 sales target unchanged at 1mn units---

The latest results were solid. They again highlight Leapmotor's consistent, steady operating discipline.

ZEEKR Intelligent Tech

Leapmotor: Can its overseas blockbuster model really hit 1 mn units and 'lead' China's new EV upstarts?---

Leapmotor 4Q25 First Take: the company delivered a solid, in-line quarter. It demonstrated steady operating discipline.Management had guided that heavier promotions would offset scale benefits, leaving GPM flat QoQ. That set a conservative bar.However, GPM still rose 50bps QoQ to 15%. Despite lower ASPs due to promotions and a mix shift toward lower-priced models, the QoQ uptick was driven by three factors.Drivers included ongoing cost-down through platformization and in-house R&amp;D/manufacturing, and further scale effects. In Q4, other income also lifted GPM; with faster overseas ramp, carbon credit revenue recognition likely doubled vs. last quarter.On opex, sales expense was RMB 1.3bn, up QoQ on heavier ad spend and concurrent network expansion. R&amp;D and admin were well controlled and declined QoQ. OP reached RMB 220mn, above the market’s ~RMB 60mn expectations. $LEAPMOTOR(09863.HK)

CT-LEAP@EC2611A(29434.HK)

JPM: LEAPMOTOR 1Q Results Beat Market Expectations, Reiterates Overweight with TP HKD90

Top 10 HK Stock Losers (5.18)

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

Citi Cuts LEAPMOTOR TP to HKD98, Expects Breakeven in 2Q

Leapmotor's Q1 2026 Net Loss Widens by 3.9 Billion RMB