Leapmotor posts 1st half-year profit as deliveries top China's NEV startups

Leapmotor has turned a profit for the first time in a half-year period, joining Li Auto as the only Chinese NEV startups to achieve that milestone, after record sales and revenue gains in the first six months of 2025.

The Hangzhou, Zhejiang province-based company reported a net profit for the January-June period, according to its earnings release on Monday.

Deliveries surged 155.7 percent from a year earlier to 221,664 vehicles, the highest among China's new-energy vehicle startups, while revenue surged 174 percent to 24.25 billion yuan ($3.37 billion).

Gross margin improved to 14.1 percent, the best in Leapmotor's history. Cash reserves stood at 29.6 billion yuan, with both operating and free cash flow remaining positive.

The sales momentum was driven by its products. Leapmotor has launched two new models on its B platform and three refreshed products on its C platform this year, aiming to strengthen its position in the mass-market EV segment.

In terms of its sales network, Leapmotor has expanded its retail footprint to 806 sales outlets and 461 service shops across 286 cities, with per-store efficiency up more than 50 percent year-on-year. The company expects to cover 90 percent of China's prefecture-level cities by the end of this year.

Leapmotor is also accelerating its overseas push. Exports reached 24,980 units in the first seven months of 2025, keeping it atop China's NEV startups in shipments abroad.

Europe has become a key market: orders there exceeded 4,000 in July, and the B10 sedan will be officially launched at the Munich auto show in September.

Leapmotor has built a network of about 600 overseas sales and service outlets across nearly 30 markets, including more than 550 in Europe.

Localization efforts are underway as well. In April, Leapmotor and Stellantis announced local assembly of the C10 at Stellantis's Gurun plant in Malaysia, with the first vehicle rolling off the line this month.

The company said it also plans to set up a European manufacturing base by the end of 2026.

Leapmotor signed a strategic memorandum of understanding with state-owned FAW Group in March to jointly develop new models and explore deeper capital cooperation. The partners' first co-developed project has already begun.