Leapmotor's Zhu Jiangming Says Stock Undervalued, Reaffirms 1 Million Sales Target by 2026

On July 23, Zhu Jiangming, founder of Leapmotor, stated during a dialogue that the company's current market valuation is significantly undervalued. He revealed he has personally purchased HK$1.9 billion worth of shares and believes Leapmotor’s total value should reach HK$200 billion. Zhu emphasized that Leapmotor operates four major product lines—complete vehicles, automotive lighting, intelligent cockpits with autonomous driving capabilities, and electric drive systems and batteries—and that each of these product lines alone is worth over HK$50 billion. He reiterated the company’s target of achieving annual sales of one million vehicles by 2026, stressing there is no alternative plan and that this goal must be fully realized. To achieve this, Leapmotor expects its sales in the second half of 2024 to reach between 83,000 and 100,000 units and plans to capture hundreds of thousands of units in market share from other automakers. Zhu also noted that in the future, cars will increasingly serve as everyday transportation tools rather than luxury items, reflecting an industry-wide trend toward greater accessibility—enabling users to obtain better products at lower prices. Although Leapmotor entered the advanced driver-assistance systems (ADAS) field relatively late, Zhu predicted that 2026 will be the year its ADAS technology achieves full-scale breakthroughs.