Sealand Securities has expressed optimism regarding the future development of LEAPMOTOR (09863) and has maintained its "Overweight" rating. The company operates pragmatically and efficiently, having transitioned to profitability in the first half of 2025. The firm forecasts revenues for 2025-2027 to reach 64.19 billion, 100.26 billion, and 128.13 billion yuan respectively, with year-on-year growth rates of 100%, 56%, and 28%. Net profit attributable to shareholders is expected to be 9.4 billion, 44.2 billion, and 64.1 billion yuan, reflecting a turnaround and growth of 371% and 45%; the EPS is projected at 0.66, 3.11, and 4.51 yuan. Furthermore, LEAPMOTOR unveiled its flagship D platform and D19 model on October 16. Following this, on October 20, the company announced that due to strong confidence in its future development, shareholders and the CEO, Mr. Zhu Jiangming, along with fellow shareholder Mr. Fu Liqian, purchased a total of 3.2435 million shares of the company’s H-shares at an average price of approximately 63.19 HKD per share. Sealand Securities believes that this management purchase reflects a strong confidence in the company's long-term development.
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