零跑汽车：Competitive pricing for B10 with strong 4Q24 margins-20250311

11 Mar 2025 CMB International Global Markets | Equity Research | Company Update Leapmotor (9863 HK) Competitive pricing for B10 with strong 4Q24 margins Maintain BUY. Leapmotor's aggressive pre-sale price for its new B10 EV, along with its in-house autonomous driving (AD) and chassis capabilities, gives us more confidence about its sales. We revise up its FY25E sales volume by 7% to 0.48mn units. We also project a minimal net loss in FY25E and a net profit of RMB1.26bn in FY26E with more new A and D series ...