Leapmotor International reported a 57.2% year-over-year increase in revenue to CNY 38.11 billion for the first half of 2026, driven by a 60.8% rise in vehicle deliveries to 356,000 units. The company ranked as the top EV startup in China and the fourth-largest global EV brand by volume during the period.
Net profit attributable to shareholders totaled CNY 210 million, with adjusted net profit at CNY 270 million. Gross profit margin declined to 11.7% from 14.1% a year earlier, reflecting higher raw material costs. Operating cash flow fell to CNY 270 million, down from CNY 2.86 billion in the prior-year period, while free cash flow decreased to CNY 140 million from CNY 860 million. Cash and cash equivalents stood at CNY 38.59 billion as of June 30, 2026.
The company raised its full-year 2026 vehicle sales target to 350,000–400,000 units, including 200,000 overseas, but lowered its net profit guidance to approximately CNY 3 billion, citing inflation in key inputs such as lithium carbonate. Gross profit margin is expected to reach 13%–14% for the year, with vehicle sales gross margin projected at 10%–11%.
Leapmotor’s export growth accelerated, with 96,294 units shipped in H1 2026, up 72% year-over-year. July deliveries exceeded 100,000 units for the first time, and the company now operates over 1,000 stores across 45 countries, with a 25% market share in Italy’s pure electric EV sector and leadership positions in Germany and the U.K.
Product launches in 2026 included the D19 large SUV in April, the B10 and B01 long-range models in July, and the D99 flagship MPV in June. The A10, priced below CNY 100,000, reached 100,000 units in production by August 7, while the A05, launched in August, starts at CNY 63,900. The C-series, with cumulative sales exceeding 850,000 units, saw upgraded models introduced in June.
Executives highlighted progress in smart technology and autonomous driving, with a new solution scheduled for launch on September 16 alongside next-generation battery and motor technologies. Overseas expansion continues, with a factory in Spain planned to open in October and B10 production slated for Spain and Brazil in the third quarter.
