Core Viewpoint - Leap Motor reported significant growth in Q1 2025, with revenue reaching 10.02 billion yuan, a year-on-year increase of 187.1%, and a reduction in losses from 1 billion yuan to 130 million yuan, achieving a record high gross margin of 15% [1][4]. Financial Performance - The company delivered 87,552 vehicles in Q1 2025, marking a 162.1% year-on-year increase, exceeding analyst expectations [4]. - The C-series models accounted for 77.5% of total sales, with 67,812 units delivered [4]. Sales and Distribution - As of the reporting date, Leap Motor had established 756 sales outlets and 449 service centers across 279 cities, expanding to 97 new cities since March 2024 [5]. - The company plans to enhance its channel quality and operational capabilities in first- and second-tier cities, aiming to add 80 new cities by the end of 2025 [5]. Research and Development - R&D expenditure reached 800 million yuan in Q1 2025, reflecting a 53.8% year-on-year increase [5]. - Leap Motor is developing an end-to-end driver assistance system, expected to launch between the second half of 2025 and the first half of 2026 [5]. Future Expansion - Leap Motor aims to expand its overseas market presence, having exported 13,632 vehicles from January to April 2025, with over 7,500 units exported in Q1 alone, surpassing half of the total exports for 2024 [6]. - The company has established over 500 sales and service points in overseas markets, with more than 450 in Europe and nearly 50 in the Asia-Pacific region [7]. - Plans for local production in Europe are underway, with a factory project in the early stages of development, and there are intentions to utilize Stellantis' Gurun factory in Malaysia for local assembly by the end of 2025 [7].
财报季丨零跑计划年内盈亏平衡，将加速布局海外市场建设
Guan Cha Zhe Wang·2025-05-21 09:37