On August 18th, Leapmotor publicly released its financial report data for the first half of this year. The data shows that the revenue in the first half of this year reached 24.25 billion yuan, an increase of 174.0% compared with the same period last year; the net profit was 30 million yuan, achieving a positive semi-annual net profit for the first time.
In terms of delivery volume, the cumulative delivery volume in the first half of this year was 221,664 units, a growth of 155.7% compared with the same period last year. The revenue for the six months ended June 30, 2025 was 24.25 billion yuan, an increase of 174.0% compared with 8.85 billion yuan in the same period last year; in terms of gross profit margin, it was 14.1%, an increase of 13 percentage points compared with 1.1% in the same period last year. Regarding the gross profit margin, the official stated that it is mainly due to the scale effect brought by the increase in sales volume, the ongoing cost management work, the optimization of the product portfolio, and the revenue generated from other businesses.
In terms of expenses, the sales expenses in the first half of this year were 1.41 billion yuan, an increase of 56.7% compared with 900 million yuan in the same period last year. The official said that the increase in expenses was mainly due to the increased investment in advertising and promotion as well as the increase in sales personnel; as of June 30, the balance of Leapmotor’s cash and cash equivalents, restricted cash, financial assets measured at fair value through profit or loss, and bank time deposits was 29.58 billion yuan. Leapmotor’s free cash flow was 86 million yuan, compared with -48 million yuan in the same period last year.
Of course, the surge in Leapmotor’s sales this year is related to the continuous launch of new models. Since entering 2025, Leapmotor has intensively launched a number of models. Among them, the Leapmotor B10 was launched on April 10th, which is the fastest product of Leapmotor to achieve a delivery volume of over 10,000 units, with deliveries exceeding 10,000 units in the second month after its launch. The new car is positioned as a compact SUV, based on the LEAP 3.5 architecture, with a price range of 99,800-129,800 yuan, and it is the first model of Leapmotor’s B platform. The Leapmotor B01 was launched on the 24th of last month, and it was recognized by the market as soon as it was launched, with over 10,000 units locked in 72 hours. It is understood that the price range of the Leapmotor B01 is 89,800-119,800 yuan. The new Leapmotor C16 was also launched on June 18th, which adopts the CTC2.0 and 800V solutions, and the new car is positioned as a long-range SUV.
With the support of multiple models, Leapmotor’s sales have been continuously rising since the beginning of this year. The data shows that from January to July this year, Leapmotor’s monthly sales were 25,170 units, 25,287 units, 37,095 units, 41,039 units, 45,067 units, 48,006 units, and 50,129 units respectively. It is worth mentioning that, thanks to the increase in sales, the official raised the 2025 sales guidance to 580,000-650,000 units after releasing this financial report. For reference, the original sales target was 500,000-600,000 units. The official stated that the sales volume in the third quarter is expected to be between 170,000-180,000 units, and it is expected that Leapmotor’s sales from August to September will continue to grow, and the sales volume in August will increase significantly compared with 50,000 units in July. Looking to the future, Leapmotor said it will challenge an annual sales volume of 1 million units next year.
This time, in addition to announcing the above information, the official also revealed that the D-series models will make their debut as early as October this year and go on sale in the first quarter of next year, covering SUV and MPV products. The arrival of the D-series models will help boost Leapmotor’s sales volume. From January to July this year, Leapmotor’s cumulative sales volume was 271,793 units, completing nearly half of this year’s latest annual sales target. With the subsequent launch of multiple models, it is not difficult to achieve the new sales target.
