LEAPMOTOR (09863.HK) -1.940 (-4.020%) Short selling $195.88M; Ratio 37.717% has recently underperformed the broader market due to investor concerns over order momentum for its new D19 model, UBS wrote in its research report. As the stock had already accumulated gains in early April, some investors opted to take profit.Positioned as the first large SUV among LEAPMOTOR's premium D-platform models, the D19 is priced between RMB220,000 and RMB270,000. Currently, most sales of the model come from the six-seater Zhizun EREV version, which is priced at RMB240,000.Related News CMSI: Mainland Auto Sector Sees Marked QoQ Recovery in 2Q, Focus on Structural OpportunitiesHowever, the D19 has yet to demonstrate clear differentiation amid intense competition from rival models. With more than 100 new models set to debut at the Beijing Auto Show, consumers may adopt a wait-and-see approach.In UBS's estimation, the orders for the D19 will grow steadily. The broker sticks to its assumption that D-platform models will contribute 100,000 units in sales this year. LEAPMOTOR's rating remains Neutral, with a target price of HKD50.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.)
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