Leapmotor reported its first half-year profitability for 2025, recording a net income of RMB 30 million (approximately US$4.2 million) according to figures released by the company. This achievement makes it the second Chinese new energy vehicle maker to post a half-year profit, following Li Auto.
Strong demand drove vehicle deliveries to 221,664 units in the first half, a 155.68% increase compared with the same period last year. Through the first seven months, deliveries totaled 271,793 units, up 149.84% year-on-year.
Fueled by the robust sales growth, Leapmotor raised its 2025 full-year sales outlook from an initial range of 500,000–600,000 units to 580,000–650,000 units. The company is targeting annual sales of 1 million units in 2026.
Revenue for the first half climbed 174.0% to RMB 2.425 billion. Leapmotor’s gross margin reached 14.1%—its highest level since inception—up from 1.1% a year earlier. Management attributed the improvement to economies of scale from higher sales volumes, ongoing cost management, a more favorable product mix and contributions from ancillary businesses.
Operating cash flow was RMB 2.86 billion for the period, more than ten times the RMB 270 million reported in the first half of 2024. As of June 30, the company held RMB 29.58 billion in cash, restricted cash and time deposits on its balance sheet.
Leapmotor’s first-half performance underscores the momentum in China’s new energy vehicle market, driven by rising consumer adoption and supportive industry policies. The company’s raised sales target and profitability milestone signal growing confidence in its expansion strategy and cost controls.
Source: CnEVPost
