零跑汽车上半年实现营收242.5亿元，净利润首度转正

Core Insights - Leap Motor reported a revenue of 24.25 billion yuan for the first half of the year, a 174% increase compared to 8.85 billion yuan in the same period of 2024, and achieved a net profit of 30 million yuan, reversing a loss of 2.21 billion yuan from the previous year, making it the second Chinese new car manufacturer to achieve profitability in the first half of the year [2] - The increase in revenue is attributed to higher vehicle and parts delivery volumes, income from strategic partnerships and carbon credit trading, and increased service revenue driven by vehicle deliveries [2] - The total vehicle delivery volume for the company reached 221,664 units, ranking first among new car manufacturers in China [2] Delivery Performance - In July 2025, the company’s delivery volume reached a new high of 50,129 units, maintaining the top position in the new car manufacturer sales rankings for five consecutive months, and is the only new car manufacturer in China to exceed 50,000 units in monthly deliveries since 2025 [2] Product Development - Since 2025, the company has launched two new models on the B platform and updated three existing models on the C platform, enhancing its product matrix to meet diverse customer needs [2] - All new models are built on the new LEAP 3.5 architecture, providing cutting-edge technology experiences for users [2] - The Leap B10 was launched on April 10, 2025, featuring end-to-end assisted driving capabilities, laser radar, and Qualcomm 8650 chip in a 120,000 yuan SUV [2] R&D Investment - The company has significantly increased its investment in intelligent driving research and development, with the scale of the intelligent driving team and computing resources nearly doubling compared to the same period in 2024 [3] - The city commuting navigation assistance function based on end-to-end algorithms has achieved mass production and is now on vehicles [3] - The development efficiency of the Qualcomm 8650 domain control combination assisted driving solution has improved significantly, completing development and first application on B platform models within six months [3] Future Plans - The company plans to further increase strategic investments in the second half of 2025, enhancing resources for end-to-end and VLA technology research and development, with a goal to achieve city NOA combination assisted driving capabilities by the end of 2025 [3]