HK Stock Market Move | LEAPMOTOR(09863) rose nearly 4%, with last year's revenue increasing by 92% year-on-year. It achieved a positive net profit in the fourth quarter.

LEAPMOTOR (09863) rose nearly 4%, as of the time of publication, rising by 3.86% to 43.1 Hong Kong dollars with a turnover of 2.35 billion Hong Kong dollars. On the news front, LEAPMOTOR announced its annual results for the year ended December 31, 2024, with the group achieving revenue of 32.164 billion renminbi (RMB) (same unit), a year-on-year increase of 92.06%; the company's equity holders' share of the annual loss decreased by 33.1% year-on-year. In the fourth quarter of 2024, the company achieved a net profit of 80 million RMB, achieving the goal of turning a quarterly profit ahead of schedule, becoming the second profitable enterprise among new energy vehicle companies; the gross profit margin for the period was 13.3%, reaching a new high since the company was founded. It is reported that in 2024, LEAPMOTOR's total delivery volume was 293,700 vehicles, an increase of 103.8% compared to the same period in 2023 when it was 144,200 vehicles, ranking in the top three in terms of sales among new energy vehicle brands for the year. In addition, LEAPMOTOR launched the global smart long-lasting SUV B10, with five versions priced between 109,800 and 139,800 RMB, and the new car is expected to be officially released in April. According to the official Weibo account, within 1 hour of the B10 going on sale, orders exceeded 15,010 vehicles, with the proportion of orders for the laser radar smart driving version reaching 73%.