合作出现新进展，中国一汽拟收购零跑10%股权

Core Viewpoint - China FAW Group plans to make an initial offer to acquire approximately 10% of Leap Motor shares, with the proposal currently circulating within FAW's relevant departments [1] Group 1: Strategic Cooperation - In March, China FAW signed a strategic cooperation memorandum with Leap Motor, focusing on joint development of new energy passenger vehicles and component collaboration [3] - The cooperation aims to leverage both companies' technological strengths to enhance product competitiveness and explore the feasibility of deepening capital cooperation [3] - Leap Motor reported that the first cooperative vehicle development project with FAW has been initiated, with further discussions on capital cooperation ongoing [3] Group 2: Company Performance - Leap Motor, established in 2014, aims to be a technology-driven smart electric vehicle company, projecting nearly 300,000 vehicle deliveries in 2024, exceeding its annual target [4] - In the first half of 2025, Leap Motor achieved revenue of 24.25 billion yuan, a year-on-year increase of 174%, with a gross margin of 14.1%, up 13 percentage points [6] - The company reported a net profit of 30 million yuan for the first half of the year, marking its first half-year profit, compared to a net loss of 2.21 billion yuan in the same period last year [6] - Leap Motor's total delivery volume reached 221,000 units in the first half of the year, reflecting a year-on-year growth of 155.7% [6] Group 3: Market Context - In the first half of 2024, China FAW delivered over 3.2 million vehicles, with a 95.5% year-on-year increase in its self-owned new energy vehicle sales, achieving a market penetration rate of approximately 32.2% [3]