Chinese EV maker Leapmotor's H1 revenue and profit rise on higher deliveries, exports

Zhejiang Leapmotor Technology

24/08/2026 11:07

Overview
China electric vehicle maker's revenue for H1 2026 rose 57% yr/yr
Net profit attributable for H1 2026 increased to RMB208.4 mln, marking consecutive half-year profitability
Gross margin for H1 2026 fell to 11.7% from 14.1% due to higher raw material costs

Outlook
Company did not provide specific guidance for the current quarter or full year

Result Drivers
VEHICLE DELIVERIES - Co said revenue growth was mainly due to increased delivery of vehicles and spare parts
EXPORTS SURGE - Export volume rose 372.6% yr/yr, making overseas markets a key growth driver
RAW MATERIAL COSTS - Gross margin declined due to rising raw material costs and changes in vehicle product mix

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 38.11 bln
 
H1 Net Income Attributable
 
RMB 208.4 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 23 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto & truck manufacturers peer group is "buy"
Wall Street's median 12-month price target for Zhejiang Leapmotor Technology Co Ltd is HK$60.40, about 41.3% above its August 24 closing price of HK$42.76
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)