According to a research report by CLSA, LEAPMOTOR (09863.HK) +1.750 (+3.415%) Short selling $299.35M; Ratio 86.513% 's 4Q25 net profit grew by 137% QoQ to RMB355 million, helping the company achieve a positive full-year net profit for the first time ever at RMB538 million, in line with market expectations.The strong quarterly performance was supported by an increase in the gross margin from 14.5% in 3Q25 to a record-breaking 15.1%. The gross margin growth was mainly driven by improved non-auto revenue.Related News CLSA: BYD, Geely Exports Further Increase; Domestic Auto Sales Momentum ReboundsLooking ahead to 1Q26, CLSA expects rising raw material costs and sales pressure to impact LEAPMOTOR's profitability, but non-auto revenue should help cushion the impact. The launch of two new models, the A10 and D19, in March and April is also likely to reposition the carmaker for growth.CLSA has given LEAPMOTOR a target price of HKD80 and an Outperform rating.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)
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