Shares of LEAPMOTOR (09863) rallied more than 9% in late trading, climbing to HK$42.12 with a turnover of HK$704 million as of the time of writing.

The stock's surge comes as the company opened blind ordering for its A05 model on July 27. This vehicle is the second offering in the company's A series and is scheduled for an official launch in August, according to market reports.

A research note from Capital Securities highlighted that the A05's primary price range is expected to fall between 60,000 and 80,000 yuan, positioning it below the A10. The firm draws a parallel to the A10, which became a market hit due to its high cost-performance ratio. Since its March launch, A10 sales have steadily climbed, reaching 24,865 units in June, making it the top-selling small SUV. Analysts project the A05 could achieve a steady-state monthly sales volume of 20,000 units after its launch.

The report noted that LEAPMOTOR has introduced three new models this year, with the A10 and D19 leading their respective market segments. During June and July, the company's C series and B series underwent annual upgrades. While prices remained largely unchanged, intelligent driving features were enhanced, further boosting the vehicles' competitive edge.

Looking ahead, the company plans to unveil a second brand in 2027, targeting the premium new energy vehicle segment with prices above 300,000 yuan. The first model under this new brand is expected to debut in the fourth quarter of 2027, which would broaden LEAPMOTOR's price spectrum significantly.