According to the Hong Kong Stock Exchange’s Disclosure Platform, Leapmotor announced its third-quarter financial report for 2023.
Summary of the main data as follows:
Total vehicle deliveries in Q3 were 44,325 units, an increase of 24.5% from 35,608 units in the same period last year.
Total revenue for the quarter was RMB 5.6555 billion, an increase of 31.9% compared to the same period last year and a quarter-on-quarter increase of 29.4%.
Gross profit margin turned positive for the first time to 1.2%, achieving the goal of turning gross profit positive ahead of schedule, and both delivery and revenue hit new quarterly highs.
In terms of operating losses, operating losses in the quarter were RMB 1.0254 billion, compared with RMB 1.3614 billion in the same period last year and RMB 1.174 billion in the previous quarter.Zhu Jiangming, founder, chairman and CEO of Leapmotor, said in the financial report that the gross profit margin for the quarter reached 1.2%, which means that the company is one step closer to its profit target. Based on its current order volume, Leapmoon is expected to reach a new high in delivery volume in the fourth quarter.
According to Leapmotor’s first half report previously announced, Leapmotor’s revenue in the first half of the year was 5.813 billion CNY, a year-on-year increase of 14%, and its gross profit margin was 5.9%.
In addition, Leapmotor’s new SUV model C10 has also completed its application with the Ministry of Industry and Information Technology today. The car adopts the latest design language of the family and is worth looking forward to in terms of smart driving and smart cockpit.
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