Below is Dolphin Research's Trans of $LEAPMOTOR(09863.HK) Q1 26 earnings call. For our earnings take, see 'Leapmotor: Aiming for 1mn, is GPM slipping first?'. I. Key highlights: 1) Guidance — Q2 26 delivery guidance of 240–250k units (April alone exceeded 70k)...

$LEAPMOTOR(09863.HK) released its Q1 2026 results after the HK close on May 15 (BJT). The print marked a departure from Leapmotor’s historically steady execution.

Despite a seasonal soft quarter for the industry, volumes were still decent and opex discipline was reasonable. However, both revenue and GP missed, with per-vehicle GP well below street expectations.

On the details: revenue missed as ASP fell further on a shift toward lower-end models. Q1 revenue was RMB 10.82bn (+8% YoY)...

We maintain the 2026 net profit target at RMB 5 bn. Guidance unchanged.

The latest results were solid. They again highlight Leapmotor's consistent, steady operating discipline.

2026 overseas sales target: 100,000 to 150,000 vehicles

The significant increase in the three expenses has eroded Leapmotor's net profit.

For the full year, the company aims to achieve a gross margin level of 14% to 15%.

$LEAPMOTOR(09863.HK) released its Q2 2025 financial report after the Hong Kong stock market closed on August 18, Beijing time. This financial report continues to perform well, beating market expectations for three consecutive quarters. Specifically: 1. Revenue was in line with expectations, but the average selling price of cars declined quarter-on-quarter due to a shift in the model mix: This quarter's revenue was 14.2 billion, which was in line with market expectations, but the average selling price of cars continued to decline quarter-on-quarter, mainly due to the recognition of nearly 440 million in technology licensing revenue (from FAW) in the previous quarter. Excluding this factor...

Below is the earnings call $LEAPMOTOR(09863.HK) FY25Q1 Minutes. For the Quick Interpretation of the earnings report, please refer to《Leapmotor: Competing with Strength, A 'Real Deal' in the New Energy Chaos!》I. Key Earnings Information Review II. Detailed Earnings Call Content 2.1 Key Information from Management Presentation 1. Products: a. B10 Model: Equipped with Qualcomm 8650 autonomous driving chip and 8295 smart cockpit chip, stable control with premium luxury configurations, setting a new benchmark for 12 万元 SUV value. Users also prefer mid-to-high trim models and LiDAR versions, attracting younger users...

$LEAPMOTOR(09863.HK) released its Q1 2025 earnings report after the Hong Kong market closed on May 19 Beijing time. The performance remains very strong, beating market expectations for three consecutive quarters. Details: 1. Gross margin continued to improve quarter-over-quarter even during the traditionally slow Q1 sales season, reaching a record high. Typically, NEV automakers see gross margins decline QoQ in Q1 due to promotional discounts on older models (Leapmotor was no exception), so the market had actually predicted a drop in Leapmotor's Q1 gross margin...