On June 1, Leap Motor rose 4.07% in regular trading, trading at HK$41.48/share, with trading volume of HK$65.40 million. The stock ended its prior two-day losing streak amid a broad rebound in the new energy vehicle sector.

On the news front, the NEV sector saw collective strength, with peers XPENG-W up 7.28%, NIO-SW up 4.38%, and Geely Auto up 1.91%. More significantly, reports indicate that Stellantis and Leap Motor are further upgrading their partnership, with Leap Motor helping maintain Stellantis idle European factories. Their joint venture has achieved notable sales breakthroughs in major markets including Germany, with the Leap Motor B10 expected to begin production at Stellantis Zaragoza plant in Spain during Q3. Additionally, Leap Motor recently won a Hangzhou land parcel for approximately RMB 690 million to build its new headquarters, signaling long-term confidence. However, investors should note that the companys Q1 earnings showed gross margin declining to 9.4% from 14.9% year-over-year, with net losses widening to RMB 390 million.

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