Zhejiang Leapmotor Technology Co Ltd (OTCPK:ZJLMF)

Full Year 2025 Zhejiang Leapmotor Technology Co Ltd Earnings Call Transcript

Mar 16, 2026 / 11:00AM GMT

Transcript

Key Points

Positve

Zhejiang Leapmotor Technology Co Ltd (HKSE:09863) achieved a significant milestone by doubling its vehicle sales for two consecutive years, with a total delivery of 596,905 units in 2025.
The company reported a net profit of RMB540 million in 2025, marking a successful transition to profitability.
Gross profit margin improved to 14.5% in 2025, up from 8.4% in 2024, with a record quarterly GP margin of 15% in Q4 2025.
Leapmotor's export performance was strong, with over 100,000 units exported, ranking first among BEV start-ups in China.
The company expanded its sales and service network to cover 259 cities, with 950 sales stores and 256 service stores, enhancing its market presence.

Negative

Raw material price increases, including lithium carbonate and memory prices, pose a challenge to maintaining cost control and GP margins.
The company's Q1 2026 sales volume is expected to drop significantly compared to Q4 2025, impacting GP margins.
Sales expenses increased in Q4 2025 due to high seasonal demand, and total marketing input is expected to rise in 2026.
Leapmotor's overseas market expansion is still in the investment phase, with no immediate profitability targets set for 2026.
The geopolitical tensions and oil price volatility present challenges in managing transportation costs for exports.

Operator

Hello, everyone. Welcome to Leapmotor full-year 2025 earnings conference call. Together with us, we have CFO of Leapmotor, Mr. Li Tengfei; Joint President of the company, Mr. Wu Qiang; as well as Mr. Shen Ke, Board Secretary.

First, may I invite Mr. Shen Ke, Board Secretary, to read the disclaimer statement.

Ke Shen

Zhejiang Leapmotor Technology Co Ltd - Joint Company Secretary of the Board

Thank you, moderator. Good evening, everyone. I'm Shen Ke, Board Secretary of Leapmotor. The earnings conference call may contain forward-looking statements, including, but not limited to, statements regarding the company's future financial condition, strategies, objectives, metrics, and future development conditions in which the company participates or may participate.

These statements are based on the company's existing and future business development strategies and assumptions regarding the company's future business environment. They inevitably involve known or unknown risks and uncertainties.

These factors, the company cannot foresee or

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