On the evening of March 16, Zhejiang Leapmotor Technologies Co., Ltd. released its 2025 annual results announcement. The financial report shows that the company delivered 596,600 new vehicles throughout the year, a year-on-year increase of 103.1%, marking the second consecutive year of doubling sales. Revenue reached 64.73 billion yuan, up 101.3% year-on-year. Net profit attributable to equity holders was 540 million yuan, achieving an annual profit for the first time. Following Li Auto, LEAPMOTOR has become the second domestic new energy vehicle startup to achieve an annual profit. The company's comprehensive gross profit margin for 2025 rose to 14.5%, a record annual high. Cash and cash equivalents at year-end stood at 37.88 billion yuan, with both operating cash flow and free cash flow remaining positive, indicating a substantial improvement in fundamental operations.

An industry expert commented that LEAPMOTOR has achieved synchronized growth in sales, revenue, and profit through continuous advancement in technology R&D, product portfolio, and channel development, leading to a significant enhancement in operational stability.

Core operational metrics continued to show improvement. As a new energy vehicle manufacturer focused on in-house technology development, LEAPMOTOR continued to upgrade its technical architecture and enhance its product matrix in 2025. In terms of R&D, the company launched the LEAP 3.5 technical architecture in March, completing an upgrade to its central domain control layout. Core technologies including intelligent driving, intelligent cockpit, electric drive, and batteries underwent comprehensive iteration, with all new and refreshed products launched that year adopting this architecture. The entire C-series of pure electric models was equipped with an 800V high-voltage platform. In October, the company released six core technologies for its flagship D platform. In the intelligent driving sector, its City Commute Navigation Assist function launched in June 2025 and was rolled out to B/C platform vehicles in February 2026, with nationwide coverage expected in the second quarter of this year. In the three-electric (battery, motor, electronic control) domain, the company achieved mass production of its electric drive business compressor and power supply products. Its CTC (cell-to-chassis) battery technology passed the updated national standard for power batteries ahead of schedule, while R&D on advanced technologies like 5C fast charging and solid-state batteries progressed simultaneously.

Advancements in technology and products drove continuous improvement in operational data. In 2025, net cash generated from operating activities was 12.62 billion yuan, an increase of 4.15 billion yuan year-on-year. Free cash flow was 7.82 billion yuan, an increase of 1.5 billion yuan year-on-year. By the end of 2025, the company's cumulative deliveries surpassed 1.2 million vehicles, and its market share in the domestic new energy passenger vehicle segment increased from 2.5% to 3.9%.

While consolidating its position in the domestic market in 2025, LEAPMOTOR accelerated its global expansion, simultaneously improving the quality and efficiency of its channel and service network. Combined with the implementation of strategic partnerships and enhanced ESG governance, this has laid a solid foundation for long-term development. In global operations, LEAPMOTOR's export volume reached 67,100 units in 2025, ranking first among domestic new automakers. By the end of 2025, Leapmotor International had established approximately 900 sales and service outlets in about 40 markets globally, with over 800 of these located in Europe. Expansion in the South American market progressed simultaneously, with the C10 and B10 models launched in Brazil in November 2025; the C10 was the first to go on sale, and the number of local stores exceeded 30. Furthermore, a CKD project in Spain has been approved, with related localization production work underway. Leapmotor International achieved an annual profit in 2025.

Regarding channels and services, by the end of 2025, the company's sales and service network covered 295 cities across China, an increase of 31 from the previous year, with a total of 950 sales stores and 526 service stores. The 'Gold and Silver Seed Investor' plan launched by the company in 2025 proved effective, adding 205 new stores during the year. Average sales per store increased by 85.1% year-on-year, while the rollout of new store imagery optimized the end-customer purchase experience.

Strategic cooperation and ESG governance advanced concurrently. In 2025, LEAPMOTOR entered a strategic partnership with China FAW Group; the first co-development vehicle project has been initiated. At the end of the year, FAW invested 3.74 billion yuan in the company, laying the groundwork for industrial chain collaboration. In capital markets, the company completed a 2.6 billion yuan private placement of domestic shares in August 2025 and was officially included in the Hang Seng Tech Index constituent list in December. On the ESG front, the company received an MSCI ESG AA rating for the third consecutive year, saw its EcoVadis rating upgraded from Bronze to Silver, and was recognized as a 'National Green Factory'.