On June 10, Leapmotor declined 3.72% in regular trading, trading at HKD 37.96/share, with trading volume of HKD 85.57 million.

On the news front, market concerns over the company's volume-driven pricing strategy and its impact on profitability continue to weigh on the stock. The company reported Q1 comprehensive gross margin of just 9.4%, a sharp decline of 5.5 percentage points year-over-year, while net losses reached RMB 390 million. Although May deliveries hit a record high of 81,000 units, cumulative deliveries of 263,000 units through the first five months represent only about 26% of its full-year one-million-unit target, implying monthly deliveries must exceed 100,000 units in the second half.

The broader EV and automobile sector also faced broad selling pressure, amplifying the downside. Among sector peers, NIO fell 5.45%, XPeng declined 3.34%, BYD dropped 2.60%, and Li Auto slipped 1.34%, reflecting widespread risk-off sentiment across the industry.

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