零跑汽车业绩爆发：实现半年度盈利、毛利新高，营收翻倍、全球化加速

Core Insights - Leap Motor achieved its first half-year net profit in 2025, becoming the second Chinese new car-making force to report profitability in a half-year period [1] Financial Performance - In the first half of 2025, Leap Motor delivered 221,664 vehicles, ranking first among Chinese new forces in terms of sales, representing a 155.7% increase compared to the same period in 2024 [1] - The company reported a revenue of 24.25 billion yuan, an increase of 174% year-on-year [1] - The gross margin reached 14.1%, marking the highest half-year gross margin since the company's establishment [1] Cash Flow and Financial Health - Leap Motor's cash reserves stood at 29.58 billion yuan, maintaining positive operating cash flow and free cash flow [1] Market Position - In July 2025, Leap Motor entered the Fortune China 500 list for the first time and achieved a monthly sales volume exceeding 50,000 units, consistently ranking among the top in monthly sales for Chinese new forces [1]