Leapmotor Achieves First Full-Year Profit in 2025, Becomes Second New EV Maker to Turn Profitable

Leapmotor Auto released its 2025 financial results on March 16, reporting annual deliveries of 596,600 vehicles—a 103.1% year-over-year increase—marking the second consecutive year of doubling its sales volume. The company recorded revenue of RMB 64.73 billion, up 101.3% year-over-year, and achieved a net profit of RMB 540 million, turning profitable for the full year for the first time. Leapmotor thus became the second new-energy vehicle (NEV) startup to achieve annual profitability, following Li Auto. Its gross margin reached a record high of 14.5%. The key to Leapmotor’s profitability lies in its vertically integrated strategy: 65% of core components are self-developed and in-house manufactured, and 88% of parts are standardized across models, creating a virtuous cycle of “higher sales → lower costs → pricing advantage.” In 2025, Leapmotor exported 67,100 vehicles overseas, and its service and other revenue surged by 413.2% year-over-year to RMB 2.72 billion. Looking ahead to 2026, Leapmotor aims to deliver one million vehicles, launch four new models, increase its self-developed component ratio to 80%, target overseas sales exceeding 100,000 units, and achieve a net profit target of RMB 5 billion.