Group 1 - The company, Leap Motor (09863.HK), has scheduled a board meeting on November 17, 2025, to approve its third-quarter results for the period ending September 30, 2025 [1]

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份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 ZHEJIANG LEAPMOTOR TECHNOLOGY CO., LTD. 浙江零跑科技股份有限公司 有意參加業績電話會議的投資者請在業績電話會議開始時間至少20分鐘前使用以 下的鏈接完成在線登記： https://ir.leapmotor.com/zh-hans/active 。 本公司將於業績電話會議前為投資者提供提問渠道。投資者可將相關問題提交至 用於收集業績電話會議問題的指定電子郵箱： ir@leapmotor.com 。電郵收集截止 時間將為2025年11月17日（星期一）（北京╱香港時間）下午七時正。本公司將於 業績電話會議上回答投資者普遍關注的問題。 1 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9863） 董事會會議召開日期 及 2025年第三季度業績電話會議 浙江零跑科技股份有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會 （「董事會」）茲宣佈謹訂於2025 ...

Core Viewpoint - The relationship between China FAW Group and Leap Motor is becoming increasingly close, with plans for China FAW to acquire shares in Leap Motor and potentially become the largest shareholder, pending official announcement on November 17 [2][5]. Group 1: Strategic Cooperation - In March, China FAW and Leap Motor signed a strategic cooperation memorandum, focusing on joint development of new energy vehicles and component collaboration to enhance product competitiveness [2][3]. - Previous collaborations between China FAW's brand, Bestune, and Leap Motor in 2020 did not yield substantial results, as Bestune's new energy models did not utilize Leap Motor's technology [3]. Group 2: Sales Performance - In October, China FAW reported a total vehicle sales increase of 8.1% year-on-year, with 30.5 million units sold, including 3.89 million units of new energy vehicles [3]. - The sales performance of individual brands showed that Hongqi brand sales exceeded 45,000 units in October, with a 19.9% year-on-year increase, while Bestune's sales reached 20,400 units, with a 90.5% penetration rate for new energy vehicles [4]. Group 3: Leap Motor's Growth - Leap Motor's sales have surged, with over 70,000 units sold in October and a total of 460,000 units sold from January to October [5]. - Leap Motor's partnership with Stellantis, which invested approximately €1.5 billion for a 20% stake, has provided significant backing and access to overseas sales channels [5].

Core Viewpoint - Recent rumors regarding China FAW's acquisition of Leap Motor have been denied by both companies, emphasizing the importance of verifying information in the automotive industry [3][4]. Group 1: Strategic Investments - In August, there were reports that China FAW intended to make a strategic investment in Leap Motor, potentially acquiring a 10% stake, but this was later refuted by China FAW as false information [3]. - Leap Motor publicly denied the rumors of an acquisition by China FAW on November 4, reiterating that such claims are untrue [3]. Group 2: Stock Purchases - On October 20, Leap Motor announced that its 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 63.19 HKD per share, amounting to around 200 million HKD [3]. - From August 2024 to October 20, 2025, Zhu Jiangming and Fu Liqian plan to increase their holdings by approximately 850 million HKD [3]. Group 3: Sales Performance - Leap Motor achieved a record high in total deliveries in October, reaching 70,289 units, which represents a year-on-year increase of over 84%, marking the first time monthly sales surpassed 70,000 units [4]. Group 4: Technology and Upgrades - Leap Motor has denied rumors regarding collaboration with Huawei for smart driving technology [4]. - In October, Leap Motor conducted OTA upgrades for multiple models, including the Leap B10, B01, and the 2024 versions of C10/C16 and C11/C01, with the first OTA updates for the 2026 models C10 and C16 announced on October 13 [4].

Core Insights - The wholesale sales of new energy passenger vehicles in China reached 1.61 million units in October, marking a year-on-year increase of 16% and a month-on-month increase of 7% [1] - Cumulatively, from January to October, the total wholesale sales amounted to 12.054 million units, reflecting a year-on-year growth of 30% [1] Industry Performance - October is traditionally a peak sales month, benefiting from the "Golden September and Silver October" sales season, with the National Day holiday boosting consumer demand [4] - The anticipated adjustment of the tax exemption policy for new energy vehicles at year-end has also contributed to increased consumer urgency in purchasing [4] - The strong retail performance and continuous growth in exports have led to a sustained upward trend in wholesale sales of new energy vehicles [4] Manufacturer Highlights - Major manufacturers such as Geely, Changan, Chery, Leap Motor, and others achieved record high wholesale sales of new energy vehicles in October [4] - Companies like SAIC-GM-Wuling, SAIC Passenger Cars, and Beijing Hyundai also reported their second-highest monthly sales figures historically [4] - The overall sales of new energy passenger vehicles have been significantly boosted by strong export performance and excellent results from many second-tier manufacturers [4]

Core Viewpoint - Leap Motor has denied reports that China FAW Group's acquisition plan has been approved, stating that the information is "false" and that China FAW has not responded to inquiries [1] Group 1 - On November 5, news emerged that China FAW Group plans to gradually acquire shares of Leap Motor through a targeted issuance, ultimately becoming its largest shareholder [1] - Earlier in August, there were reports that China FAW intended to make an initial offer to acquire approximately 10% of Leap Motor's shares, which was said to be under internal review within China FAW [1] - Leap Motor previously declined to comment on the acquisition rumors, while China FAW remained silent on the matter [1]

Core Insights - China FAW Group plans to acquire a stake in Leap Motor through a targeted issuance, aiming to become its largest shareholder, with the proposal already approved by relevant authorities [1] - Leap Motor has denied the acquisition news, stating it is "untrue," while China FAW has not commented on the matter [1] Group 1: Strategic Developments - In March, China FAW and Leap Motor signed a strategic cooperation memorandum to leverage each other's technological strengths in R&D and collaborate on new energy vehicle development [1] - The memorandum also mentioned exploring the feasibility of deepening capital cooperation to achieve resource synergy across the entire industry chain [1] Group 2: Financial Performance - Leap Motor's largest shareholder is currently Stellantis Group, holding a 21.26% stake [2] - In October, Leap Motor achieved sales of 70,000 units, becoming the top seller among new car manufacturers [2] - For the first half of 2025, Leap Motor reported revenue of 24.25 billion yuan, a 174% year-on-year increase, and a net profit of 30 million yuan, marking its first half-year profit after a loss of 2.21 billion yuan in the previous year [2] - Leap Motor has raised its annual sales guidance from 500,000-600,000 units to 580,000-650,000 units based on its strong performance in the first half [2] Group 3: Market Context - China FAW is undergoing a transformation towards new energy vehicles, with a need to increase sales volume urgently [2] - In October, China FAW sold 305,000 vehicles, a year-on-year increase of 8.1%, with 38,900 units being new energy vehicles [2] - Collaborating with new car manufacturers like Leap Motor allows China FAW to continuously update and enhance its offerings, potentially leading to the development of flagship products [2]

Core Viewpoint - The news regarding the acquisition of Leap Motor by FAW Group is false, as confirmed by Leap Motor's official response [1] Group 1 - Recent reports suggested that FAW Group would gradually acquire shares of Leap Motor, eventually becoming its largest shareholder [1] - Leap Motor promptly denied the rumors, emphasizing that the acquisition news is not true [1]

Core Viewpoint - The news regarding FAW Group's acquisition of Leap Motor is deemed false by Leap Motor, which has officially responded to the claims [1] Group 1 - Leap Motor stated that the reports of FAW Group acquiring its shares through a targeted issuance are inaccurate [1] - Previous media reports suggested that FAW Group would gradually acquire shares in Leap Motor and eventually become its largest shareholder [1] - The acquisition plan was reportedly approved by relevant authorities and was set to be publicly announced on November 17 [1]

Core Viewpoint - The news discusses the ongoing speculation regarding a potential acquisition of Leap Motor by China FAW Group, with both companies denying the rumors while emphasizing their strategic partnership and collaboration in the electric vehicle sector [1][2]. Group 1: Acquisition Speculation - Leap Motor officially denied rumors of an acquisition by FAW Group, stating that the information is untrue [1]. - Reports suggested that FAW Group plans to acquire approximately 10% of Leap Motor's shares through a targeted issuance, with the plan already approved by relevant authorities [1]. - The speculation arose from a strategic cooperation memorandum signed between the two companies, indicating a collaborative effort in developing new energy vehicles and components [1]. Group 2: Strategic Partnership and Financial Performance - The strategic cooperation aims to leverage both companies' technological strengths to enhance product competitiveness in the electric vehicle market [1]. - Leap Motor has recently formed a global strategic partnership with Stellantis, which plans to invest approximately €1.5 billion for a 20% stake in Leap Motor, granting Stellantis two board seats [2]. - Leap Motor reported a revenue of ¥24.25 billion for the first half of the year, marking a 174% year-on-year increase, and achieved a net profit of ¥30 million, indicating its first half-year profitability [2]. - In terms of sales, Leap Motor delivered 70,289 vehicles in October, a year-on-year increase of over 84%, setting a new monthly delivery record for new car manufacturers [2].