HK Stock Market Move | LEAPMOTOR(09863) rose over 4% in early trading. The company signed a cooperation agreement with China FAW to advance powertrain and battery collaboration.

LEAPMOTOR(09863) rose over 4% in early trading. As of press time, it was up 4.29% at HK$36.44, with a turnover of HK$109 million. On the news front, LEAPMOTOR completed two signing ceremonies with China FAW in Huzhou, Zhejiang. LEAPMOTOR plans to participate in the Series A financing of Qixin Powertrain as a strategic investor. The two parties will strengthen collaboration in key powertrain areas and further discuss technology sharing and resource integration for products including hybrid engines, electric drive systems, and range extenders. The technology cooperation agreement signed between LEAPMOTOR and Zhongqi Xinneng focuses on battery technology. It is worth noting that on September 17, LEAPMOTOR Chairman Zhu Jiangming told Wallstreetcn that Leapmotor is carrying out platform-level cooperation with FAW and Stellantis, and one cooperation project with FAW has already entered mass production. Core components such as battery packs, electric drives, controllers, and vehicle lights can all be developed, manufactured, and supplied to partners by Leapmotor. The previous day, Leapmotor announced that its registration application for a private placement had been approved, with this round aiming to raise approximately 6.744 billion yuan, of which FAW plans to subscribe approximately 3.744 billion yuan.