- Leapmotor's founder and his concerted party have again increased their holdings in the company by HK$108.6 million ($14 million).
- Leapmotor's stock price has fallen about 33 percent from its late-August peak.
Leapmotor (HKG: 9863) founder Zhu Jiangming and his concert party, Fu Liquan and his spouse, recently increased their holdings in the company, according to a Hong Kong Stock Exchange announcement today.
This marks the third time this year that the founder of Leapmotor (HKG: 9863) has increased his stake in the company, as the Chinese electric vehicle (EV) maker's stock price has declined 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, totaling HK$108.6 million ($14 million).
This action stems from their strong confidence in Leapmotor's future development, aiming to promote the company's sustained, stable, and healthy growth while safeguarding public investors' interests, the announcement said.
Following this purchase, the single largest shareholder group of Leapmotor, including Zhu and the Fu family, collectively holds 209,100,538 H-shares and 128,517,839 domestic shares of Leapmotor, representing 23.79 percent of the company's total issued shares.
Leapmotor's Hong Kong-listed stock price has declined significantly over the past few months despite sustained growth in vehicle deliveries.
As of today's close, the stock price has fallen about 33 percent from its late-August peak.
This latest increase marks the third such move by Leapmotor's founder this year, following previous purchases in April and October totaling HK$316 million and HK$205 million respectively.
Leapmotor is a Chinese EV maker backed by Stellantis NV (NYSE: STLA). On October 26, 2023, Leapmotor announced that Stellantis would invest €1.5 billion to acquire about 20 percent equity, becoming the EV maker's largest external shareholder.
The company delivered 536,132 vehicles from January to November, marking a 113.42 percent year-on-year increase and achieving its sales target before an upward revision.
It delivered 70,327 vehicles in November, setting a record high for the seventh consecutive month.
Leapmotor's initial 2025 sales target was 500,000 to 600,000 units. On August 18, during its first-half 2025 results briefing, the company announced it would raise its full-year 2025 sales target to 580,000 to 650,000 units due to strong sales performance.
Leapmotor will challenge an annual sales volume of 1 million units in 2026, its management had repeatedly said.
($1 = HK$ 7.7822)
