Leapmotor’s Private Placement Approved by CSRC; FAW Equity and Jinyi High-Tech to Take Strategic Stakes

On September 16, Leapmotor (HKEX: 09863) announced that it had received the "Reply on Approval of the Registration for Zhejiang Leapmotor Technology Co., Ltd. to Issue Shares to Specific Objects" (CSRC Permit [2026] No. 2434) issued by the China Securities Regulatory Commission (CSRC). The CSRC has approved the company's application to issue domestic shares to FAW Equity and Jinyi High-tech. The total proceeds from this private placement are approximately RMB 6.744 billion. In August 2026, China FAW Group and Leapmotor held a signing ceremony in Changchun to deepen their strategic cooperation agreement. Under the agreement, the two parties will collaborate in areas including capital cooperation, new energy vehicles, intelligent driving, powertrains, traction batteries, intelligent chassis, body process equipment, lightweight components, embodied intelligent robots, and financial services. In March 2025, the two parties established a strategic partnership and signed a memorandum of understanding. In November of the same year, Li Tengfei, Vice President of Leapmotor, stated regarding the collaboration with FAW Group that the first project—a Red Flag overseas vehicle model—had already been launched as of April 2025. This vehicle project is expected to enter mass production in the second half of 2026 and subsequently be introduced for overseas sales.