Leapmotor Posts 6 Billion Yuan Q2 Profit, Raises 2026 Net Profit Target to 3 Billion Yuan

Leapmotor said second-quarter revenue rose 91.78% year on year to 27.29 billion yuan and net profit reached 600 million yuan, reversing a 390 million yuan loss in the first quarter, according to Jiemian News. First-half revenue hit 38.11 billion yuan, a record for the period, and net profit turned positive at 210 million yuan. The company said second-quarter deliveries reached 246,300 vehicles, up 123.6% from the first quarter, while July deliveries topped 100,000 vehicles for the first time. Leapmotor also said exports in the first half rose 372.6% to 96,000 vehicles, accounting for 27% of total sales. Gross margin improved to 12.6% in the second quarter from 9.4% in the first quarter, but first-half gross margin was 11.7%, down 2.4 percentage points from a year earlier. Leapmotor said on its August 24 earnings call that it cut its full-year net profit target to 3 billion yuan from 5 billion yuan. The company also said it will hold a 2026 technology conference in September and plans to unveil an intelligent assisted-driving world model. Separately, it said on August 24 that it is entering the embodied-intelligence robotics sector and had already set up a robotics unit through a subsidiary in July.