According to the National Enterprise Credit Information Publicity System, Zhejiang Leapmotor Technology Co., Ltd. (hereinafter referred to as “Leapmotor”) has undergone industrial and commercial changes. Its registered capital has increased from approximately RMB 1.337 billion to RMB 1.407 billion, representing a growth rate of 5.25%. Meanwhile, changes have also been made to several key personnel of the company.
Company Overview
Public data shows that Zhejiang Leapmotor Technology Co., Ltd. was established in December 2015, previously known as Zhejiang Leapmotor Technology Co., Ltd. With Zhu Jiangming as its legal representative, the company currently has a registered capital of RMB 1.407 billion and a paid-in capital of RMB 1.337 billion, primarily engaging in professional and technical services. Leapmotor has not officially explained the reason for this capital increase, but industry insiders generally believe that the move, on one hand, reflects capital’s optimism about its future development; on the other hand, it may indicate that Leapmotor is adjusting its strategic layout for future growth.
Development, Financials, and Sales Performance
Founded in 2015 as a new energy vehicle (NEV) startup, Leapmotor was listed on the Hong Kong Stock Exchange in September 2022. Currently, its models on sale include the Leapmotor C11, T03, C16, C10, C01, and B10. Although Leapmotor has been in existence for 10 years, its substantial development has occurred in recent years—especially since the second half of 2024. By adhering to a strategy of “cost-effectiveness” and “technology for all,” Leapmotor has captured the mainstream market, achieved rapid sales growth, and entered the stage of large-scale profitability.
2024 Full-Year Financials:Revenue reached RMB 32.16 billion, a year-on-year increase of 92.0%.Net loss narrowed by 33.18% year-on-year to RMB 2.82 billion.
Gross profit margin rose by 7.9 percentage points year-on-year to 8.4%.
In Q4 2024, Leapmotor achieved a positive net profit of RMB 80 million, reaching the target of quarterly profitability one year ahead of schedule and becoming the second NEV startup to turn profitable. Its gross profit margin in Q4 hit a record high of 13.3% since the company’s establishment.Sales Growth Driver: Leapmotor’s shift to profitability is closely tied to its surging sales, which began to climb significantly from H2 2024. In 2024, it delivered 293,700 new vehicles, a year-on-year increase of 103.8% from 144,200 units in 2023, exceeding its annual target of 250,000 units.H1 2025 Sales: The latest sales data shows that Leapmotor delivered 221,700 vehicles in H1 2025, a year-on-year surge of 155.68%, making it the top-selling NEV startup during this period. Among its models, the top three best-sellers were the C10 (55,500 units), C11 (43,100 units), and C16 (31,200 units) in cumulative retail sales.
2025 Goals & New Product Plans。Annual Targets: Leapmotor plans to achieve annual sales of 500,000 to 600,000 vehicles in 2025 and strives to realize full-year profitability.
New Product Launch: Within 2025, Leapmotor will launch three models under the “B Series,” including the compact SUV B10, mid-size sedan B01, and B05. These products will target China’s largest market segments and become new growth drivers for the company’s 2025 sales:The Leapmotor B10 was launched on April 10, with a price range of RMB 99,800 to RMB 129,800.The Leapmotor B01 has opened for pre-order, offering 5 variants with a pre-sale price range of RMB 105,800 to RMB 135,800; its official launch is expected within this month.
Leapmotor B01 & Future Flagship Plans
As the second model based on Leapmotor’s B platform and the first sedan under this platform, the B01 is built on the LEAP 3.5 technology architecture. It adopts pure electric drive, equipped with a rear-wheel motor with maximum power of 132kW or 160kW, and a lithium iron phosphate battery pack supplied by Zhengli Xinneng. Its maximum CLTC cruising range can reach 650km.
In addition, Zhu Jiangming, founder of Leapmotor, previously revealed that the company’s flagship “D Series” will enter mass production in Q1 2026.
