On June 16, Leap Motor fell 3.08% in regular trading, trading at 37.1 HKD/share, with turnover of 101 million HKD.

On the news front, the company's proposed private placement of approximately 6.744 billion yuan recently received feedback from the China Securities Regulatory Commission (CSRC), with regulators specifically questioning the reasonableness of gross margin fluctuations, prudence of revenue recognition, and necessity of fundraising. The company's Q1 comprehensive gross margin stood at only 9.4%, a sharp decline of 5.5 percentage points year-over-year, while net loss attributable to shareholders reached 390 million yuan. The profitability concerns stem from the company's volume-for-price strategy, as its sales mix shifted toward lower-priced B-series and A-series models, dragging average selling price down from 111,000 yuan to 98,000 yuan per vehicle.

Additionally, the automobile sector broadly declined today, with BYD down 1.93%, Geely Auto down 1.85%, NIO down 1.39%, Li Auto down 0.79%, and XPeng down 0.72%, creating sector-wide linkage pressure on individual stocks.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)