Chinese Automaker Leapmotor's Net Profit Surges on Higher Revenue
By Jiahui Huang
Zhejiang Leapmotor Technology's net profit rose sharply thanks to surging sales, as the Chinese automaker continued its rapid growth despite the industry facing slowing demand.
First-half net profit increased more than sixfold to 208.4 million yuan, equivalent to $31 million, the company said Monday. Total revenue jumped 57% to 38.11 billion yuan during the period.
The rapid expansion came at a cost, however, as gross margin fell to 11.7% from 14.1% a year earlier.
In the first six months of 2026, Leapmotor deliveries almost doubled to 356,487 units, showing resilience despite a challenging period for China's auto sector.
The latest monthly figures suggest the company has managed to maintain the momentum. In July, it delivered 101,267 units globally, more than double the year-ago level and surpassing the 100,000 sales milestone for the first time.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
August 24, 2026 06:50 ET (10:50 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for October
Undervalued by 15%, This Utilities Stock Could Be an Unexpected AI Winner
The Thrilling 37
3 Stocks to Invest In With More Room to Run
United States