LEAPMOTOR(HK:09863) Zhi Tong Cai Jing·2025-08-20 09:27Core Insights - Zhaoyin International Research reports that Leap Motor (09863) achieved a net profit of 163 million RMB in Q2, exceeding the firm's expectations by 115 million RMB [1] - The firm anticipates strong sales momentum to continue until 2026, driven by new model launches and overseas production expansion [1] - The net profit forecasts for Leap Motor for the next two years have been raised by 220% and 129%, reaching 927 million RMB and 3.3 billion RMB respectively [1] - The firm maintains a "Buy" rating and has increased the target price from 72 HKD to 80 HKD [1] Sales Guidance - Management has guided that Q3 sales are expected to reach between 170,000 to 180,000 units, with average monthly sales in August and September projected at 60,000 to 65,000 units, both exceeding the firm's expectations [1] - The sales forecast for 2025 has been raised to 600,000 units based on the company's Q3 sales guidance [1] Model Performance - The firm believes that the B01 sedan is likely to receive a positive market response, and the success of the C16 model has increased confidence in the upcoming D series models [1]