Leapmotor Will See Higher Gross Profit Margin in 3Q -- Market Talk

Dow Jones11-05

0434 GMT - Zhejiang Leapmotor Technology's gross profit margin may rise in 3Q on stronger cost control and better product mix, says Deutsche Bank analyst Bin Wang. The Chinese automaker's component costs such as battery cells, which are sourced externally, have been falling. Its fixed costs per unit are also lower as record-high quarterly delivery volumes supported its gross margin. Higher sales of the more expensive priced C16 SUV model may also support its gross profit margin in 2H, Wang says in a note. DB forecasts Leapmotor's gross margin to increase 3.9 percentage points to 6.7% in the third quarter from the prior quarter. The bank upgrades the stock's rating to buy from hold and maintains the target price at HK$40.00. Shares last at HK$33.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

November 04, 2024 23:34 ET (04:34 GMT)

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The Chinese automaker's component ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1119","symbol_name":"汽车制造商","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481851174","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481851174","pubTimestamp":1730781240,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0434 GMT - Zhejiang Leapmotor Technology's gross profit margin may rise in 3Q on stronger cost control and better product mix, says Deutsche Bank analyst Bin Wang. The Chinese automaker's component costs such as battery cells, which are sourced externally, have been falling. Its fixed costs per unit are also lower as record-high quarterly delivery volumes supported its gross margin. Higher sales of the more expensive priced C16 SUV model may also support its gross profit margin in 2H, Wang says in a note. DB forecasts Leapmotor's gross margin to increase 3.9 percentage points to 6.7% in the third quarter from the prior quarter. The bank upgrades the stock's rating to buy from hold and maintains the target price at HK$40.00. Shares last at HK$33.00. 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