On September 4, LEAPMOTOR rose 3.19% in regular trading to HK$37.7, with turnover of HK$22.03 million.
The rally was driven by a wave of bullish broker actions and robust August delivery data. UBS upgraded LEAPMOTOR to a Buy rating, citing attractive risk-reward. Huachuang Securities maintained its Strong Buy rating, noting significantly improved Q2 financials with net profit of RMB 6.0 billion, up 2.7x year-over-year, while raising the overseas sales guidance. CICC maintained an Outperform rating with a HK$60.80 target price, implying over 42% upside.
On the operational front, LEAPMOTOR reported August global deliveries of 103,129 units, up 80.7% year-over-year, marking the third consecutive month exceeding the 100,000-unit threshold. H1 revenue reached RMB 38.1 billion, up 57.2% year-over-year, with net profit of RMB 2.1 billion, up 531%, achieving profitability for three consecutive half-year periods. Q2 gross margin improved sequentially to 12.6%. The company also accelerated its global expansion, with H1 overseas exports of 96,294 units surpassing full-year exports last year.
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