Leapmotor Achieves Annual Profitability for the First Time

[Financial Performance] Leapmotor reported a net profit of RMB 540 million in 2025, marking its first-ever annual profitability.

Core Development: Becoming the Second Profitable New-Energy Vehicle Startup

Leapmotor achieved revenue of RMB 64.73 billion in 2025, a year-over-year increase of 101.3%; it delivered 596,555 vehicles throughout the year, up 103.1% year-over-year, firmly securing the top spot among new-energy vehicle startups.

Key Metrics: Gross Margin and R&D Investment Both Rise

The company’s gross margin improved to a record high of 14.5% for the full year; R&D expenses reached RMB 4.29 billion, an increase of 47.9% year-over-year. In 2026, R&D spending will significantly ramp up, focusing on intelligent driving, new vehicle platforms, and talent acquisition.

Strategic Foundation: Economies of Scale Drive Profitability Inflection Point

With monthly deliveries exceeding 70,000 units at peak and 67,052 units exported, Leapmotor has successfully transitioned from "burning cash" to "generating cash flow." The company has set a clear target of achieving RMB 5 billion in net profit in 2026.