The Leapmotor founder and his co-ordinating party have once again increased their holdings in the company by HK$108.6 million (US$14 million). Leapmotor’s stock price is down nearly 33 percent from its peak in late August.
Leapmotor (HKG: 9863) founder Zhu Jiangming and his party, Fu Liquan and his wife, recently increased their holdings in the company, according to a Hong Kong Stock Exchange announcement today.
This is the third time this year that the Leapmotor HKG:9863 founder has increased his stake in the company, as the Chinese electric vehicle (EV) maker’s share price has fallen significantly over the past four months.
They purchased 2,150,600 Leapmotor shares from the market at an average price of HK$50.51 per share, for a total of HK$108.6 million (US$14 million).
The announcement said that this action stems from their strong confidence in the future development of Leapmotor, with the aim of promoting the company’s sustainable, stable and healthy growth while protecting the interests of public investors.
Following this purchase, the largest group of Leapmotor shareholders, including the Zhu family and Fu family, collectively own 209,100,538 H shares and 128,517,839 domestic Leapmotor shares, accounting for 23.79 percent of the company’s total issued shares.
Leapmotor’s Hong Kong-listed share price has fallen significantly over the past few months despite continued growth in vehicle deliveries.
As of today’s close, the stock price is down about 33 percent from its peak in late August.
This latest raise marks the third such move by the Leapmotor founder this year, following previous purchases in April and October that totaled HK$316 million and HK$205 million respectively.
Leapmotor is a Chinese electric vehicle manufacturer backed by Stellantis NV (NYSE: STLA). On October 26, 2023, Leapmotor announced that Stellantis would invest €1.5 billion to acquire approximately 20 percent of the shares, becoming the electric car maker’s largest external shareholder.
The company delivered 536,132 vehicles from January to November, representing a 113.42 percent increase year on year and achieving the sales target before the upward revision.
It delivered 70,327 vehicles in November, setting a record for the seventh month in a row.
Leapmotor’s initial sales target for 2025 was 500,000 to 600,000 units. On August 18, during its first-half 2025 results conference, the company announced that it would raise its full-year 2025 sales target to 580,000 to 650,000 units due to strong sales performance.
Its management has repeatedly said that Leapmotor will challenge an annual sales volume of 1 million units in 2026.
Leapmotor reported net income of 150 million yuan ($21.1 million) in the third quarter, marking its second consecutive profitable quarter.
($1 = 7.7822 Hong Kong dollars)
