LEAPMOTOR (09863) expects its annual operating income to increase by no less than 80% year-on-year.

LEAPMOTOR (09863) announced that the group's sales volume for the year ending December 31, 2024 reached 293,724 units, an increase of 104% compared to 144,155 units for the year ending December 31, 2023. The group anticipates that its operating income for the year ending December 31, 2024 will be no less than 30.5 billion yuan, representing a growth of at least 80% compared to 2023. The improvement in operating income is mainly attributed to a 104% increase in sales volume in 2024 compared to 2023. Additionally, the group expects that its gross profit margin for the year ending December 31, 2024 will be no less than 8%, a significant increase from the previous year. The improvement in gross profit margin is due to the scale effects brought about by the growth in sales volume, continuous optimization of the company's product sales structure, and ongoing cost management efforts. In the fourth quarter of 2024, the group achieved a positive net profit, reaching the goal of achieving a positive net profit for a single quarter one year ahead of schedule. The positive net profit in the fourth quarter of 2024 is primarily due to the continuous growth in sales volume during the quarter, with an average monthly sales exceeding 40,000 units, the optimization of the company's product structure with over 77% of sales coming from the higher-priced C series models, and effective cost control and operational efficiency measures implemented by the company.