Leapmotor releases positive financial report, expects sales to double next year

Leapmotor announced its strong third-quarter delivery results and comprehensive financial report, showing total revenue of 9.86 billion yuan, a year-on-year increase of 74.3%. The gross profit margin of the automotive business was 8.1%, higher than 2.8% in the second quarter. Although the net loss was 690 million yuan, this figure was an improvement over the 990 million yuan in the second quarter. Leapmotor founder Zhu Jiangming said that Leapmotor, which focuses on the 50,000-200,000 yuan market, is reaping the benefits of the popularization of new energy vehicles.