Zhejiang Leapmotor Technology Shrinks Loss in Q3

MT Newswires Live11-11

Zhejiang Leapmotor Technology (HKG:9863) recorded an attributable loss of 690 million yuan in the third quarter, compared with a net loss of 990 million yuan a year prior, a Monday bourse filing said.

Revenue for the three months was 9.86 billion yuan in the three months, up 74% from the year-ago period, mainly due to higher product deliveries and the optimization of the product sales structure.

The firm saw a 94% year-over-year boost in sales volume to 86,165 units in the three months.

The automobile maker attributed the lower loss compared with the first and second quarters mainly to a higher sales volume and revenue, improved gross profit, and cost control.

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