On July 13, Leapmotor fell 3.5% in regular trading, trading at HK$36.44/share, with turnover of approximately HK$44.5 million.

The decline was driven by systemic selling across the automobile manufacturing sector, triggered by peer Seres announcing an expected net loss of RMB 1.5 billion to RMB 1.8 billion for the first half of the year, a sharp reversal from its RMB 2.94 billion profit in the same period last year. The loss was attributed to surging raw material costs including storage chips, industrial metals, and lithium carbonate, as well as asset impairments related to technology iteration and model transitions. This reignited market concerns over profitability sustainability across new energy vehicle makers.

Within the Automobile Manufacturers sector, Seres fell 7.74%, Geely Auto fell 2.04%, BYD fell 0.88%, and XPeng fell 0.39%. Industry data also showed domestic passenger vehicle retail sales declined over 20% year-on-year in the first half, underscoring the challenging operating environment for the sector.

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