MoonFox Data | Leapmotor Financial Report Analysis: Strong Momentum Sustained, Q2 Revenue Expected to Surge 156.6% YoY

Shenzhen, Aug. 12, 2025 (GLOBE NEWSWIRE) — Leapmotor has set a sales target of 500,000 units for 2025. From January to June 2025, the company delivered a total of 221,664 vehicles, achieving 44.33% of its annual goal.
Although there remains a certain gap to reach the full-year target, Leapmotor has demonstrated robust sales momentum in the first half, with multiple months posting record-breaking volumes.
With the traditional sales peak season approaching in the second half of the year, along with the launch of new models and continued marketing efforts, Leapmotor is well-positioned to hit its full-year sales target.

2025 Growth Continues, Gross Profit Margin Improvement Accelerates 
Financially, Leapmotor is showing strong top-line performance, with full-year 2024 revenue increased by 92.0%, and Q1 2025 revenue increased by 187.1% YoY.
Thanks to rapid volume growth and product structures optimization, the gross profit margin of Leapmotor continues to improve, rising from 8.4% in 2024 to 14.9% in Q1 2025.

On the aspect of net profit, Leapmotor is also showing clear improvement. Though it reported a net loss of RMB 130 million in Q1 2025, this marks a significant narrowing compared to the RMB 1.13 billion net loss in the same period of 2024. 

Leapmotor’s R&D expenditure reached RMB 800 million in Q1 2025, increased by 53.8% from RMB 520 million in 2024. The majority of R&D efforts are focused on intelligent driving technologies.

Leapmotor Takes the Lead among New Energy Vehicle Enterprises in First Half of 2025, New Models to Drive Continued Growth 
Amid fierce competition among China’s new energy vehicle (NEV) startups, Leapmotor has risen to the top of the leaderboard.
With 221,664 units sold in the first half of 2025, Leapmotor led all NEV brands and maintained its No. 1 position for four consecutive months. Li Auto ranked second with 203,938 units, followed by XPENG Motors in third place with 197,189 units.

Cumulative Sales of Chinese NEV in H1 2025

Note: The data is the sum of figures released by each brand’s official announcements.

Leapmotor offers a comprehensive product portfolio that spans a wide range of price segments and caters to the diverse needs of different consumer groups.
Leapmotor’s products are priced between RMB 60,000 and RMB 300,000.
In the RMB 60,000 – 100,000 range, there are models of A Series. Characterized by a strong price-to-performance ratio, this model series is planned to target price-sensitive consumers. It is designed to provide an affordable solution for first-time car buyers entering the automotive market.
In the RMB 100,000 – 150,000 range, the models of B Series serve as the core product line. The B10 model, priced between RMB 130,000 and RMB 150,000, is built on Leapmotor’s latest LEAP 3.5 technology architecture and features an intelligent driving solution with a segment-exclusive combination of laser radar and the 8650 chip, delivering advanced configurations at an accessible price point.
The B01 model, another key product in the B Series, is priced between RMB 89,800 and RMB 119,800, crossing below the RMB 100,000 threshold and further enriching product offerings in the RMB 80,000 range.
The Leapmotor B10 was officially launched on April 10, 2025.
In the RMB 150,000 – 200,000 range, the models of C Series take the lead.
The C11, a representative model in this series, is priced between RMB 149,800 and RMB 209,800. It offers the spaciousness and intelligent features of a mid-to-large-size SUV, directly competing with traditional automakers’ RMB 300,000-level products. With its outstanding value, the C11 has secured a solid position in the market.
For the RMB 200,000+ range, Leapmotor plans to introduce the models of D Series, which will adopt a strategy of “ultra-luxury features at an affordable price”, aiming to capture this high-potential consumer market and further enhance Leapmotor’s competitiveness in the premium segment.
In the second half of the year, Leapmotor is expected to launch and begin deliveries of the B01 in July, the second model in the B Series, with a starting price of RMB 105,800. Positioned in the mainstream pure electric sedan market, it holds a clear pricing advantage and is expected to attract a large number of consumers, injecting new momentum into sales growth. In addition, Leapmotor’s D Series models are also scheduled to debut later this year.

The rapid growth in vehicle model sales has also driven a steady increase in user coverage on the Leapmotor app.

Full-stack Independent R&D Strategy Drives Sustained Growth, Q2 2025 Revenue Projected to Surge 156.61% YoY 
At present, the NEV market in China is experiencing increasing consolidation, with market share becoming increasingly concentrated among leading manufacturers.
From January to June 2025, the top ten NEV brands collectively accounted for a significant proportion of total retail sales.
This rising market concentration allows industry leaders to leverage economies of scale in areas such as R&D investment and supply chain management, thereby reinforcing their competitive advantages. Meanwhile, small- and mid-sized automakers face mounting pressure, with some likely to see their market share eroded or even be forced out of the market due to insufficient core competitiveness. Such market dynamics are expected to drive resource optimization and promote high-quality growth across the NEV industry.
At the heart of Leapmotor’s rapid growth lies its full-stack independent R&D strategy, which covers six key technology domains: Electrical & Electronic Architecture, Intelligent Cockpit, Autonomous Driving, Smart Battery Systems, Intelligent Electric Drive, and Whole Vehicle Architecture.
By full-stack independent R&D, Leapmotor has mastered the core technology, significantly reduced its reliance on third-party suppliers, and enabled faster technological iteration and optimization.
This approach allows the company to quickly integrate independent R&D technologies into new products, ensuring continuous innovation and maintaining a technological edge.
Leveraging its extensive data resources, spanning online & retail stores, customer UVs, and manufacturing operations, MoonFox has built an investment model to comprehensively assess the investment value of Leapmotor.

Looking ahead, Leapmotor’s Q2 2025 revenue is projected to reach RMB 13.8 billion, marking a 156.61% YoY increase.

About MoonFox Data

MoonFox Data, a subsidiary of Aurora Mobile (NASDAQ: JG), is a leading alternative data provider delivering actionable insights to global financial institutions and investment firms. Trusted by top 50 funds, MoonFox leverages proprietary big data and advanced analytics to help clients uncover market trends and drive smarter decisions across China and emerging markets.

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