Core Points - Leap Motor's chairman and CEO, Zhu Jiangming, along with shareholder Fu Liqian, purchased a total of 3,243,500 shares of the company's H-shares at an average price of approximately HKD 63.19 per share [1] - Following this acquisition, Zhu Jiangming, Fu Liqian, and their associated group hold a total of 206,949,938 H-shares and 128,517,839 domestic shares, representing 23.59% of the company's total issued shares [1]

Core Viewpoint - Leap Motor (09863.HK) demonstrates strong confidence in its future development by announcing a share buyback by major shareholders, which aims to promote sustainable and healthy growth while protecting public investors' interests [1] Shareholder Actions - Major shareholders, including Chairman and CEO Zhu Jiangming and shareholder Fu Liqian, collectively purchased 3.2435 million H-shares at an average price of approximately HKD 63.19 per share [1] - Following this buyback, Zhu Jiangming, Fu Liqian, and their associated group hold approximately 207 million H-shares and about 129 million domestic shares, representing 23.59% of the company's total issued shares [1] Financial Commitment - From August 2024 to the date of this announcement, the total amount spent by Zhu Jiangming and Fu Liqian on share purchases is approximately HKD 850 million [1]

Core Viewpoint - Leap Motor's Chairman and CEO Zhu Jiangming, along with major shareholder Fu Liqian, purchased a total of 3,243,500 H-shares at an average price of approximately HKD 63.19 per share, indicating confidence in the company's future prospects [1] Group 1 - Zhu Jiangming and Fu Liqian acquired 3,243,500 shares of the company [1] - The average purchase price was about HKD 63.19 per share [1] - Following this acquisition, Zhu Jiangming and Fu Liqian, along with their group, hold a total of 206,949,938 H-shares and 128,517,839 domestic shares, representing 23.59% of the company's total issued shares [1]

ZHEJIANG LEAPMOTOR TECHNOLOGY CO., LTD. 浙江零跑科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9863） 自願公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 基於對本公司未來發展的強烈信心，為促進本公司持續、穩定、健康發展，維護 廣大公眾投資者利益，於近期本公司股東、董事長兼首席執行官朱江明先生及本 公司股東傅利泉先生於市場內合共購入3,243,500股本公司H股（「本次增持」），平 均價格為每股股份約63.19港幣。緊隨本次增持後，於本公告日期，朱江明先生及 傅利泉先生及所屬的本公司單一最大股東集團合共持有本公司206,949,938股H股 及128,517,839股內資股，佔本公司已發行總股數的23.59%。朱江明先生及傅利泉 先生確認，本次增持符合相關法律法規以及《香港聯合交易所有限公司證券上市 規則》相關要求。自2024年8月起至本公告日期期間，本公司股東、董事長兼首席 ...

Group 1: New Car Launches - Wei brand Gaoshan 7 launched with a price of 285,800 yuan, featuring a size of 5050/1960/1900mm and a wheelbase of 3085mm, positioned as a large 7-seater MPV [2][3][6] - New IM LS6 Super Range 52Max+ version launched at a limited price of 229,900 yuan, equipped with a 52kWh lithium iron phosphate battery and a CLTC pure electric range of 370km [2][23] - New GAC Trumpchi M8 Master Edition launched with prices ranging from 269,900 to 289,900 yuan, featuring a size of 5251/1893/1823mm and a wheelbase of 3070mm [2][24][26] - New Dongfeng Nano 01 launched with a limited price of 58,800 to 88,800 yuan, featuring a size of 4020/1810/1570mm and a wheelbase of 2663mm [2][33][37] - Dongfeng Yipai 008 five-seater version launched at a limited price of 159,900 to 171,600 yuan, featuring a size of 5002/1972/1732mm and a wheelbase of 3025mm [2][40][43] - Chery Fengyun T11 pre-sale started with a pre-sale price of 199,900 to 264,900 yuan, featuring a size of 5205/1998/1800mm and a wheelbase of 3120mm [2][46][50] - New Jihu Alpha T5 pre-sale started with a pre-sale price of 123,800 to 162,800 yuan, featuring a size of 4760/1936/1650mm and a wheelbase of 2845mm [2][57][61] - Beijing Hyundai EO Yiou pre-sale started with a pre-sale price of 130,000 to 150,000 yuan, featuring a size of 4615/1875/1673mm and a wheelbase of 2750mm [2][68][70] Group 2: Company Developments - XPeng Huaitian's "land aircraft carrier" debuted in the Middle East, receiving 600 orders and planning to enter the market by 2027 [2][80][83] - Toyota's new Corolla design revealed, resembling the design of HiPhi [2][84][88] - GAC and Huawei jointly developed Qijing Automobile, with the first product's design finalized [2][89][91] - Tesla's Model Y standard version rolled off the production line in Texas, with a starting price of approximately 285,000 yuan [2][92][99] - Bosch's mid-level intelligent driving system has been delivered in bulk, marking a significant step in the integration of intelligent features in fuel vehicles [2][100][102]

Investment Rating - The report maintains a positive investment rating on the automotive sector, particularly focusing on robotics as the main investment theme for Q4 [3][4]. Core Insights - The automotive market remains optimistic despite short-term adjustments and concerns over US-China trade tensions. The bullish trend is expected to continue, with robotics being a key investment focus [4]. - The report highlights several catalysts that could drive future growth, including Tesla's product iterations, North American giants' market entry, domestic star companies' expansions, and supportive industrial subsidy policies [4]. Data Tracking - In early October, the discount rate slightly decreased to 9.5%, with a discount amount of 21,384 yuan, reflecting a year-on-year increase of 2,937 yuan [6]. - The report tracks various automotive components and companies, recommending several key players in the automotive parts and robotics sectors, including Minth Group, Top Group, and others [8]. Industry News - In September, the retail sales of passenger cars reached 2.241 million units, a year-on-year increase of 6.3%, with cumulative sales for the year reaching 17.004 million units, up 9% [33]. - The report notes that the production and sales of automobiles in September exceeded 3 million units for the first time in history, with year-on-year growth rates remaining above 10% for five consecutive months [33][34]. - The report also mentions significant developments in the electric vehicle sector, with domestic brands accounting for 59.5% of electric vehicle exports in the first three quarters [33].

Core Insights - Leap Motor launched its self-developed flagship D platform and the D19 SUV, showcasing multiple industry-first technologies [2][3] - The D19 targets the technology luxury SUV market priced around 300,000 yuan, featuring both range-extending and pure electric powertrains [2][3] Group 1: D Platform and D19 Model - The D platform integrates several industry-first technologies, including an 80.3 kWh battery for 500 km pure electric range and an intelligent four-wheel drive range-extending system [2] - The D19 model features a 115 kWh hybrid battery cell, a dual 8797 central domain controller providing 1280 TOPS computing power, and advanced driving assistance capabilities [2] - The D19 is designed with a nine-horizontal, three-vertical four-link cage structure and a ten-layer battery safety protection system [2] Group 2: Company Performance and Market Position - Leap Motor's cumulative delivery from January to September reached nearly 400,000 units, leading the new car-making forces [3] - The company has expanded into over 30 countries, including Europe, the Middle East, Africa, and Asia-Pacific, establishing nearly 700 sales and service outlets [3] - Leap Motor is projected to achieve its first half-year net profit in the first half of 2025, with a record high gross margin [3]

Core Insights - Leap Motor has delivered 37,000 new vehicles overseas from January to September this year [1][3] - The company plans to launch a new A series model in Q1 2026, which will be smaller than the B series to cater to European market preferences [2][3] - Leap Motor's domestic sales have surged, with 66,657 vehicles delivered in September, marking a year-on-year increase of over 97% [4] Group 1 - Leap Motor's overseas market presence includes nearly 700 sales and service outlets across over 30 countries, with a significant concentration in Europe [3] - The company has formed a partnership with Stellantis Group, establishing Leap Motor International with a shareholding ratio of 49% to 51% [3] - Leap Motor is on track to achieve its annual sales target of 500,000 vehicles, with cumulative deliveries nearing 400,000 units in the first nine months [4]

Core Insights - Leap Motor officially launched its self-developed flagship D platform and the first full-size flagship SUV D19, marking its entry into the luxury flagship market and initiating a new journey for brand elevation [1][5] Group 1: D Platform Innovations - The D platform features several innovations, including an extended range system with an 80.3 kWh battery that achieves a pure electric range of 500 kilometers [3] - The platform introduces a 115 kWh·h super hybrid cell and a smart system equipped with dual 8797 central domain controllers, providing 1280 TOPS of computing power to support VLA assisted driving [3] - The LMC 2.0 chassis integrates puncture control, smooth driving experience, and a 3.6-meter turning radius, along with a "forest oxygen chamber" grade oxygen generation system for enhanced health during travel [3] Group 2: D19 Model Design and Features - The D19 model adopts the "Technology Natural Aesthetics 2.0" design philosophy, incorporating elements of "magnificence, elegance, light and shadow, and nature" into its body details [3] - Notable design features include the "Cosmic Realm" front face, million-pixel DLP projection headlights, and ISD smart interactive light curtain [3] - The D platform integrates global supply chain resources, including CATL battery cells, Qualcomm chips, and Bosch braking systems, to deliver a flagship-level driving experience [3] Group 3: Market Positioning and Strategy - With the launch of the D series, Leap Motor has completed its product lineup across four major series (A, B, C, D), covering various market segments including sedans, SUVs, and MPVs [5] - The D series is positioned to lead Leap Motor's entry into the high-end market, showcasing its systematic competitive capabilities based on fully self-developed technologies [5] - This move aims to shift the flagship market from "price competition" to a new stage of "value reconstruction" [5]

Core Viewpoint - The company, Leap Motor, has significantly invested in intelligent driving technology over the past two years, narrowing the gap with leading competitors and anticipating a breakthrough in higher-level intelligence in the coming year [2]. Group 1 - Leap Motor's Senior Vice President, Cao Li, responded to rumors about collaborating with Huawei on the development of advanced driving technology, stating that the company will continue to use its self-developed high-level intelligent driving in future products [2]. - The company predicts that the next year will mark a significant turning point for higher-level intelligent driving technology [2].