's share price has fallen 61.42 percent from its IPO offering price since its September 29 IPO in Hong Kong.

Leapmotor, which went public in Hong Kong a month ago, saw a sharp drop in deliveries in October.

The electric vehicle (EV) maker delivered 7,026 vehicles in October, down 36.35 percent from 11,039 in September and up 92.28 percent from 3,654 in the same month last year, data released today showed.

From January to October, Leapmotor delivered 94,628 vehicles, up 218.76 percent from 29,686 vehicles in the same period last year.

Leapmotor was founded in 2015 and is currently selling the mini car T03, the coupe model S01, the flagship SUV model C11, and the flagship sedan C01.

On May 10, Leapmotor C01 was unveiled and began accepting pre-orders with a price range of RMB 180,000 ($24,800) - 270,000 yuan.

On September 28, Leapmotor officially let the C01 go on sale with a price range of RMB 193,800 - 286,800 after subsidies, higher than the pre-sale prices.

Deliveries of the model began in October, although deliveries of the highest-priced performance version will begin in December and deliveries of the rear-wheel drive standard version will begin in the second quarter of 2023.

Leapmotor went public in Hong Kong on September 29, the day after the C01 was launched, but closed the first trading day down about 15 percent.

Since the IPO, Leapmotor has continued to experience sell-offs, closing at HK$18.52 as of today, down 61.42 percent from the IPO offering price of HK$48 per share.