HK Stock Market Move | LEAPMOTOR (09863) rises by over 4% again, the company has exceeded its annual sales target ahead of schedule and will launch the B series models globally in 2025.

LEAPMOTOR (09863) rose by more than 4%, as of the time of writing, it increased by 3.55% to HK$32.1, with a trading volume of HK$77.14 million. In terms of news, LEAPMOTOR previously announced that its November sales volume was 40,169 vehicles, a year-on-year increase of 117.0% and a sequential increase of 5.2%, achieving a historical high for multiple months. Looking at the year as a whole, LEAPMOTOR has sold 251,000 vehicles from January to November, a year-on-year increase of 100.1%, surpassing the sales target of 250,000 vehicles set for 2024. Changjiang pointed out that looking ahead, the company's domestic new car cycle will continue to drive sales growth, and its collaboration with Stellantis overseas will open up global sales space with low asset outflow. Guosen's research pointed out that with the implementation of EU tariffs, there is room for negotiation and a potential increase in car exports. The company plans to launch the B-series globally by 2025. By adopting a dealership model domestically, it can absorb high-quality stores from its former joint venture partners; and by leveraging Stellantis' channels and operational expertise overseas, it will expand from Europe to the global market. Compared to the models sold in Europe and popular in Europe, the company's products are strong in performance and cost-effectiveness.