正是凭借着这一"全域自研"，零跑才得以打造出多款爆品。目前，其完成了ABCD四大系列及Lafa5的产 品布局，涵盖轿车、SUV、MPV，实现从A0级到D级全维度覆盖，提供纯电和增程双动力选择。经典C 系列车型持续领跑细分市场，C10月销达2万辆；全新B系列及Lafa5上市即热销。 近日，零跑汽车举办了十周年发布会。在发布会现场，零跑科技创始人、董事长、CEO朱江明回顾了十 年造车路，并发布未来十年的战略规划，同时，两款旗舰车型也相继亮相。 零跑十年，是一部以"全域自研"为基因、以"科技普惠"为使命的工程师创业史。创始人朱江明拥有三十 多年深厚技术背景，2015年，在"IT改变汽车"愿景下，零跑跨界入局汽车行业。从行业"门外汉"到在新 势力中脱颖而出，独特的工程师文化和长期主义精神是其发展的底层支撑。 十年间，零跑凭借技术积累与体系化能力建设，成绩斐然。截至目前，其累计交付量已突破120万辆， 2025年全年销量预计近60万辆，稳居中国造车新势力首位，单月销量突破7万辆，且已实现连续季度盈 利。渠道方面，零跑全球渠道网点已超1800家，海外超800家，进入全球35个国家和地区，2025年作为 国际化首个完整年度 ...

成立十周年后，在汽车行业从零起步的零跑汽车，成为自己期待的"领跑者"。 12月28日，零跑汽车在公司总部所在地杭州举办十周年发布会。零跑科技创始人、董事长兼CEO朱江明 发布面向未来的下一个十年战略规划：年销达成400万辆，成为值得尊重的世界级智能电动车企。 成立于2015年的零跑汽车，在创始人朱江明三十余年的技术背景下，形成以工程师文化为底层支撑的公 司发展文化，成长为目前中国造车新势力中的销量领先者。 截至2025年12月28日，零跑累计交付量已突破120万辆。2025年全年销量预计近60万辆，稳居中国造车 新势力首位。同时，在经营层面，零跑已实现连续季度盈利，企业经营进入可持续发展轨道。 朱江明将即将到来的2026年定为"百万辆突破年"，零跑将向年销100万辆发起挑战。 产品方面，目前零跑已完成包含A、B、C、D四大系列及Lafa5在内的产品布局，覆盖从A0级到D级车 型，并提供纯电和增程双动力选择。其中，C系列车型持续热销，C10月销量已达2万辆；年内推出的B 系列及Lafa5也实现上市即热销。 在海外市场，零跑借助与Stellantis集团的战略合作，开辟独特的出海路径。公司业务已覆盖全球35个国 ...

12月29日，零跑科技创始人、董事长兼CEO朱江明在接受媒体采访时，再次表明2026年冲刺百万辆年 销，未来十年跻身年销400万辆的世界级车企行列的目标。从30万元级旗舰MPV的高端突围，到智驾技 术从"跟随"向"领跑"的跨越，再到渠道体系的升级，零跑正试图完成从"性价比代表"到"世界级车企"的 跃迁。业内人士指出，零跑品牌"向上"要攻克多重难关，核心在于品牌价值、技术实力与体系能力的同 步跃迁，公司目前亟待解决的是如何让性能匹配更高的定价，改变用户的惯性思维将是重要挑战。 60万、100万和400万 在零跑汽车十周年之际，朱江明明确了品牌"向上"的清晰路径：2026年剑指100万辆年销，未来十年跻 身年销400万辆的世界级车企行列。 零跑销量目标植根于产品端的全面升级。作为冲击高端市场的核心力量，D系列全系基于零跑最新旗舰 D平台打造，首款科技豪华旗舰MPV-D99也在零跑十周年发布会上迎来全球首秀。新车定价将在30万元 级，提供增程与纯电双动力选择，增程版搭载80.3kWh大电池与800V高压平台；纯电版则配备115kWh 大电池与全栈1000V高压平台。 零跑科技高级副总裁曹力介绍，零跑始终坚持"成本定 ...

Group 1 - The company reported a significant increase in revenue and sales for the first half of 2025, achieving revenue of 24.25 billion yuan, a year-on-year increase of 174%, and sales of 222,000 vehicles, a year-on-year increase of 156% [1] - In Q2 2025, the company achieved revenue of 14.23 billion yuan, a year-on-year increase of 165% and a quarter-on-quarter increase of 42%, with sales of 134,000 vehicles, a year-on-year increase of 152% and a quarter-on-quarter increase of 53% [1] - The gross profit margin for the first half of 2025 was 14.1%, an increase of 13.0 percentage points year-on-year, while the net profit attributable to shareholders was 30 million yuan, marking a turnaround from losses [1] Group 2 - The B series has become a new driver for sales growth, with the B10 model contributing significantly to sales since its launch, achieving sales of 31,000 units in Q2 2025, accounting for 23.2% of total sales [2] - The B01 model, launched in July, continued the high cost-performance characteristics, securing 10,132 orders within 72 hours of its launch, indicating strong future sales potential [2] - The company expects to achieve over one million vehicle sales next year, driven by both domestic and overseas markets, with the D series expected to enhance gross profit margins [2] Group 3 - The company launched the Leap 3.5 architecture in March 2025, featuring advanced integrated control architecture and supporting high-level autonomous driving capabilities [3] - The company has maintained strong cost control, enabling the integration of laser radar into vehicles priced below 150,000 yuan, and has reserved over 1.5 EFLOPS of computing power [3] - The company has revised its revenue and net profit forecasts for 2025-2027, increasing revenue estimates from 62.6 billion yuan to 65.3 billion yuan for 2025, and net profit estimates from 200 million yuan to 700 million yuan for 2025 [3]

Core Insights - Leap Motor reported a significant revenue increase of 174% year-on-year, reaching 24.25 billion yuan in the first half of 2025, with a net profit of 30 million yuan, marking its first positive half-year profit [1][2] - The company raised its annual sales guidance from 500,000-600,000 units to 580,000-650,000 units, with a target of 170,000-180,000 units for Q3 [1][4] - Leap Motor aims to achieve a sales target of 1 million units in 2026, supported by new model launches and existing series [1][3] Financial Performance - Revenue for the first half of 2025 was 24.25 billion yuan, a 174% increase from 8.85 billion yuan in the same period of 2024, driven by a significant rise in vehicle deliveries [2] - The total delivery volume reached 221,664 units, a 155.7% increase year-on-year, making Leap Motor the top-selling new energy vehicle brand in China [2] - The gross margin improved to 14.1%, up from 1.1% in 2024, nearing levels of competitors like Tesla and Li Auto [2][3] Research and Development - R&D expenditure for the first half of 2025 was 1.89 billion yuan, a 54.9% increase from 1.22 billion yuan in 2024, reflecting increased investment in smart driving technology [3] - The company plans to enhance its smart driving capabilities, aiming to reach a leading position in the domestic market by the end of 2025 [3] Market Strategy - Leap Motor plans to launch multiple new models in the second half of 2025, including the B05 at the Munich Auto Show and the D series, which will debut in Q1 2026 [5] - The company is focusing on maintaining a competitive edge in the domestic market while targeting 50,000-80,000 units in overseas sales without raising the current overseas sales target [5][6] - Leap Motor has initiated local assembly projects in Malaysia and plans to establish local production in Europe for its B series models [6]

Core Insights - The conversation highlights the deep emotional connection and loyalty that employees can have towards their companies, exemplified by Olaf's passion for Mercedes-Benz [2][3][6]. Group 1: Employee-Company Relationship - The traditional employee-employer relationship has shifted from a contractual agreement to a more profound sense of belonging and mutual achievement [4][12]. - Loyalty, belonging, and passion are increasingly rare in modern corporate environments, contrasting with past values such as Japan's lifetime employment system [5]. Group 2: Key Pillars of a Great Company - Pillar One: Mutual Achievement - A company should provide a dignified and prosperous life for its employees, fostering a relationship based on mutual growth and respect [8]. - Pillar Two: Deep Pride - Employees should take pride in their work, viewing it as creating exceptional products rather than merely completing tasks [9]. - Pillar Three: Shared Mission - A strong sense of purpose that connects daily work to a larger narrative can motivate employees beyond financial incentives [10][11]. Group 3: Building a Strong Community - Companies should aim to create a robust "achievement community" rather than a familial culture, focusing on clear value exchanges and respect for professionalism [13][14]. - An effective achievement community is built on mutual success, deep pride in work, and a mission-driven approach that inspires employees to believe in the significance of their contributions [15].

Group 1: Sales Performance of Traditional Automakers - BYD remains the sales champion with June sales of 382,600 units, up from 341,700 units year-on-year. Total sales for the first half of the year reached 2.146 million units, a 33.04% increase from 1.613 million units last year [1][2] - SAIC Motor showed steady recovery with June sales of 365,000 units, a year-on-year increase of 21.6%. Total sales for the first half of the year reached 2.053 million units, up 12.4% [1] - Geely Auto reported the highest year-on-year growth among traditional automakers, with June sales of 236,000 units, a 42% increase. Total sales for the first half of the year exceeded 1.409 million units, a 47% increase [1] Group 2: New Energy Vehicle Contributions - New energy vehicles significantly contributed to the sales growth of traditional automakers. BYD's sales increased by 33.04%, while SAIC Motor's new energy vehicle sales reached 646,000 units, a 40.2% increase [2] - Geely's new energy vehicle sales (including Geely, Lynk & Co, and Zeekr) reached 725,200 units, a 126% increase. Changan's new energy vehicle sales for the first half of the year reached 450,000 units, up 48.8% [2] - Chery Group's new energy vehicle sales reached 359,400 units, a remarkable 98.6% increase [2] Group 3: Overseas Sales Performance - BYD's overseas sales reached 470,000 units in the first half of the year, a staggering 229.8% increase. Changan Group's overseas sales surpassed 300,000 units, a 49% increase [3] - SAIC Motor achieved overseas sales of 494,000 units, a modest 1.3% increase. Chery's overseas sales reached 550,300 units, a 3.3% increase [3] - Geely and Great Wall Motors experienced a decline in overseas sales [3] Group 4: New Energy Vehicle Startups - The leading new energy vehicle startups have shifted from "Li Auto, Seres (Aito), NIO" to "Leap Motor, Li Auto, Xpeng" [3] - Leap Motor emerged as the biggest "dark horse," with sales increasing from 86,700 units last year to 221,700 units in the first half of this year [3] - Xpeng Motors also saw significant growth, with sales nearly reaching 200,000 units in the first half of the year, surpassing its total sales from the previous year [3] Group 5: Performance of Other New Energy Vehicle Companies - Li Auto's sales reached 201,000 units, but the year-on-year growth rate slowed to 7.8%. NIO's sales were below 30,000 units in June, with total sales for the first half of the year at 114,200 units [4]

Group 1 - The company reported a total sales volume of 87,600 vehicles in Q1 2025, representing a year-on-year increase of 162.1% but a quarter-on-quarter decrease of 27.6% [1] - Total revenue reached 10.02 billion yuan in Q1 2025, up 187.4% year-on-year, but down 25.6% quarter-on-quarter [1] - The gross margin improved to 14.9%, an increase of 16.3 percentage points year-on-year and 1.6 percentage points quarter-on-quarter, despite a decline in sales volume [1] Group 2 - The company is focusing on cost reduction and strategic partnerships to enhance gross margins, with a notable collaboration with China FAW Group to develop new energy vehicles and components [1] - The B10 model, the company's first intelligent vehicle, received over 30,000 orders within 48 hours of its launch, indicating strong market demand [2] - The company aims to achieve total sales exceeding 500,000 vehicles in 2025, driven by the launch of new models such as B01 and B05 [2] Group 3 - The company is recognized as a quality new energy vehicle manufacturer, with a focus on cost-effective models priced mainly between 100,000 to 200,000 yuan [3] - Revenue forecasts for 2025-2027 have been revised upwards to 62.6 billion, 81.4 billion, and 99.9 billion yuan respectively, alongside increased net profit estimates [3] - The company maintains a "buy" rating based on its growth potential and market positioning [3]

Core Viewpoint - The company reported significant growth in revenue and a reduction in net loss for Q1 2025, indicating a positive trend in financial performance and operational efficiency [1][2]. Financial Performance - In Q1 2025, the company achieved revenue of 10.02 billion, a year-on-year increase of 187.1% [1]. - The net profit attributable to shareholders was -130 million, a substantial improvement from -1.01 billion in the same period of 2024 [1]. - The gross margin reached a historical high of 14.9% in Q1 2025, compared to -1.4% in Q1 2024 and 13.3% in Q4 2024, reflecting a 1.6 percentage point increase quarter-on-quarter [1]. Sales and Delivery - The company reported a significant increase in vehicle deliveries, with a total of 87,552 units delivered in Q1, representing a year-on-year growth of 162.1% [2]. - The C series models accounted for 67,812 units delivered, making up 77.5% of total sales, which is an increase of 5.7 percentage points compared to the same period in 2024 [2]. - The newly launched B platform model, B10, has seen over 10,000 units delivered since its launch on April 10, 2025, indicating strong market demand [2]. Future Outlook - The company is projected to achieve net profits of 407 million, 1.457 billion, and 3.131 billion for the years 2025 to 2027, with corresponding price-to-earnings ratios of 188.20, 52.52, and 24.44 [2].

Core Viewpoint - Leap Motor reported significant growth in Q1 2025, with revenue reaching 10.02 billion yuan, a year-on-year increase of 187.1%, and a reduction in losses from 1 billion yuan to 130 million yuan, achieving a record high gross margin of 15% [1][4]. Financial Performance - The company delivered 87,552 vehicles in Q1 2025, marking a 162.1% year-on-year increase, exceeding analyst expectations [4]. - The C-series models accounted for 77.5% of total sales, with 67,812 units delivered [4]. Sales and Distribution - As of the reporting date, Leap Motor had established 756 sales outlets and 449 service centers across 279 cities, expanding to 97 new cities since March 2024 [5]. - The company plans to enhance its channel quality and operational capabilities in first- and second-tier cities, aiming to add 80 new cities by the end of 2025 [5]. Research and Development - R&D expenditure reached 800 million yuan in Q1 2025, reflecting a 53.8% year-on-year increase [5]. - Leap Motor is developing an end-to-end driver assistance system, expected to launch between the second half of 2025 and the first half of 2026 [5]. Future Expansion - Leap Motor aims to expand its overseas market presence, having exported 13,632 vehicles from January to April 2025, with over 7,500 units exported in Q1 alone, surpassing half of the total exports for 2024 [6]. - The company has established over 500 sales and service points in overseas markets, with more than 450 in Europe and nearly 50 in the Asia-Pacific region [7]. - Plans for local production in Europe are underway, with a factory project in the early stages of development, and there are intentions to utilize Stellantis' Gurun factory in Malaysia for local assembly by the end of 2025 [7].