Stock Track | Leapmotor Plummets 5.01% Intraday Amid D19 Margin Pressure, Target Price Cut and Software Glitch

Stock Track04-23 09:50

Leapmotor's stock price plummeted 5.01% during the intraday session on Thursday, extending recent weakness for the electric vehicle manufacturer.

The sharp decline comes amid heightened market concerns over the aggressive pricing strategy for the company's newly launched D19 flagship SUV. The vehicle, equipped with CATL batteries and an 800V platform, was introduced at a starting price of just 219,800 RMB, significantly below the market's expected range of 250,000-300,000 RMB. While the company maintains the model is profitable, this ultra-competitive pricing has sparked fears of gross margin erosion in an intensely competitive EV market.

Adding to the negative sentiment, Haitong International cut its target price for Leapmotor from 73.51 HKD to 61.44 HKD. Furthermore, a software glitch during a live-streamed D19 endurance test the previous day further weighed on investor confidence. Despite the company reporting an improved full-year gross margin of 14.5%, near-term profitability concerns appear to be dominating the current trading narrative.

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