Core Viewpoint - Leap Motor, the second profitable new energy vehicle manufacturer in China, reported strong financial performance for Q3 2025, achieving a revenue of 19.45 billion yuan, a year-on-year increase of 97.3%, and a net profit of 1.5 billion yuan, marking a significant turnaround from losses in the previous year [1][4][5]. Financial Performance - In Q3 2025, Leap Motor's revenue reached 19.45 billion yuan, nearly hitting the 20 billion yuan mark, setting a new quarterly record [4]. - The company's net profit for Q3 2025 was 1.5 billion yuan, a substantial improvement from a loss of 6.9 billion yuan in the same quarter last year [5][6]. - The revenue for the first half of 2025 was 24.25 billion yuan, reflecting a year-on-year growth of 174.15% [5]. Sales and Production - Leap Motor sold 173,900 vehicles in Q3 2025, representing a year-on-year increase of 101.77% and a quarter-on-quarter increase of 29.63% [6]. - In October 2025, the company achieved a monthly sales milestone of over 70,000 units, becoming the only new energy vehicle brand in China to surpass this figure [8]. - As of November 15, 2025, the total vehicle sales reached 500,000 units, exceeding the annual target ahead of schedule [8]. Research and Development - Leap Motor invested 12.1 billion yuan in R&D during Q3 2025, contributing to the development of new technologies and models [2][12]. - The total R&D expenditure for the first three quarters of 2025 was 31.04 billion yuan, surpassing the total for the entire year of 2024 [12]. Financial Health - As of the end of Q3 2025, Leap Motor had approximately 33.9 billion yuan in cash and cash equivalents, ensuring sufficient funds for R&D and market expansion [3][12]. - The net operating cash flow for Q3 2025 was 4.88 billion yuan, indicating strong cash generation capabilities [12]. Market Expansion - Leap Motor's sales service network expanded to cover 292 cities with 866 sales outlets, including 367 Leap Centers and 499 experience centers [11]. - The company aims to achieve a sales target of 1 million vehicles in 2026, supported by its growing brand influence and extensive sales network [10][11]. Export Performance - In Q3 2025, Leap Motor exported 17,400 vehicles, with a total of 37,800 units exported in the first nine months of 2025 [9].