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BUZZ-China's Leapmotor rises as net loss narrows, revenue jumps

Reuters
May 20, 2025
BUZZ-China's Leapmotor rises as net loss narrows, revenue jumps

** Shares of Zhejiang Leapmotor Technology 9863.HK rise 5.5% to HK$65.60, their biggest intraday pct gain since May 14

** Stock on course to snap three straight sessions of decline, if gains hold, and is top pct gainer on Hang Seng Automobile Index .HSAMI, which is up 0.8%

** The Chinese electric vehicle maker said its Q1 net loss narrowed to 130 mln yuan ($18.00 mln), compared with 1.01 bln yuan loss the same period a year ago, with revenue up 187.1% y/y

** Citi maintains "Buy" rating on the stock and expects the share price to react positively after a very decent set of 1Q25 earnings results with Q1 net loss beat consensus

** Hang Seng Tech Index .HSTECH climbs 0.9%, Hang Seng Index .HSI rises 1.1%

** YTD, stock up 98.6%

($1 = 7.2236 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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