曝中国一汽入股零跑进入收尾阶段，预计股比5%

Group 1 - China FAW's investment in Leap Motor is nearing completion, with an expected initial stake of around 5%, indicating a significant step towards a strategic partnership [2] - Earlier rumors suggested a 10% stake, which was denied by China FAW, but recent developments have reignited interest in the potential collaboration [2] - Leap Motor has clarified that previous rumors of a full acquisition by China FAW were false, emphasizing the importance of the current investment discussions [2] Group 2 - Leap Motor reported impressive sales figures, achieving over 500,000 cumulative vehicle sales by 2025, ahead of its annual target, and aims to reach a new goal of one million units by 2026 [3] - In October, Leap Motor's delivery volume reached a record high of 70,289 units, representing a year-on-year increase of over 84%, with consistent month-on-month growth throughout the year [3] - The company has been actively enhancing user experience through OTA updates for multiple vehicle models, indicating a commitment to product improvement [3] Group 3 - Leap Motor's Q3 2025 financial report revealed a significant structural improvement in profitability, with revenues of 19.45 billion yuan, a year-on-year increase of 97.3% and a quarter-on-quarter increase of 36.7% [4] - The net profit attributable to shareholders reached 150 million yuan, marking a substantial turnaround from a loss of 690 million yuan in the same period of 2024 [4] - The gross margin improved to 14.5% in Q3 2025, up from 8.1% in Q3 2024 and 13.6% in Q2 2025, highlighting the company's strengths in supply chain management and production optimization [4]