Core Viewpoint - The financial report of Leap Motor for Q3 2025 shows significant growth, with nearly doubled revenue and a strong cash reserve, indicating a successful transition to profitability and a solid foundation for future expansion [2][4][5]. Financial Performance - Leap Motor's revenue reached 194.5 billion yuan in Q3 2025, a year-on-year increase of 97.3%, marking a record high since the company's inception [4]. - The company achieved a net profit of 1.5 billion yuan in Q3, with a cumulative net profit of 1.8 billion yuan for the first three quarters, a significant turnaround from losses in 2024 [5]. - The gross margin improved to 14.5% in Q3 2025, up from 8.1% in the same period last year, reflecting effective cost control and product upgrades [5]. Sales Growth - Leap Motor delivered 173,900 vehicles in Q3 2025, a year-on-year increase of 101.77%, achieving its annual sales target of 500,000 vehicles ahead of schedule [9]. - The company is projected to exceed 600,000 vehicle sales for the year, nearly doubling from 320,000 in 2024 [9]. Product Strategy - The C and B series vehicles are driving sales growth, with the C10 model achieving over 200,000 cumulative sales in 18 months and becoming a leading product in the 150,000 yuan SUV market [10]. - The B01 model has also performed well, with over 46,000 units sold since its launch in June 2025 [10]. Market Expansion - Leap Motor's sales network has expanded to cover 292 cities, with a significant increase in stores in lower-tier cities [10]. - The company exported 17,400 vehicles in Q3 2025, with a total of 37,800 units exported in the first nine months, a 280% increase year-on-year [10]. Technological Innovation - Leap Motor invested 12.1 billion yuan in R&D in Q3 2025, a 55.4% increase from the previous year, focusing on core technologies and product development [11]. - The Leap 3.5 technology architecture supports advanced features like high-efficiency charging and autonomous driving capabilities [11]. Future Goals - Leap Motor aims to achieve 1 million vehicle sales by 2026, supported by new model launches and an expanded sales network [14]. - The company plans to enhance its product lineup and global presence, targeting significant growth in both domestic and international markets [14].

市场竞争力强劲 在谈到此次车展上惊艳亮相的新车型B01时，朱江明表现出了极大的信心。他表示，B01无论是在颜值 还是功能性方面，都具有非常强的市场竞争力。 第二十一届上海国际汽车工业展览会（以下简称"2025上海车展"）近日在国际会展中心（上海）举行。 作为头部造车新势力，浙江零跑科技股份有限公司（以下简称"零跑汽车"）携全系热销车型亮相车展， 并带来全新B系列首款轿车B01的惊艳首秀。 展会间隙，零跑汽车创始人、董事长兼CEO朱江明接受了《证券日报》等媒体的采访，就智能驾驶技 术、公司发展战略、新车型B01的市场竞争力等话题进行了深入探讨。 智能驾驶未来已来 在谈到智能驾驶技术的未来发展时，朱江明表示："从零跑汽车的角度看，智能驾驶（端到端辅助驾 驶）绝对是未来的方向。这是一个大的方向，经过大家的共同努力，无论是AI技术、芯片的能力，还 是在智驾方面的努力探索，相关技术都在加速走向成熟。" 朱江明进一步指出，智能驾驶技术的成熟度正在迅速提升，高速公路上的接管次数越来越少，城区驾驶 也越来越成熟。但他也强调了智能驾驶技术推广过程中的安全问题："目前，首先是要做好能力宣传、 规则制定，避免安全事故的发生。在循序 ...