Leapmotor's half-year revenue was 8.8 billion, a growth rate of over 50%! How?

【ITBEAR】According to news on August 15, Leapmotor released its financial report for the first half of 2024 today, showing that revenue reached 8.845 billion yuan, a significant growth of 52.2% compared with 5.813 billion yuan in the same period of 2023.

According to ITBEAR, although Leapmotor’s revenue increased during the reporting period, its net loss did not narrow significantly.

1. As of June 30, 2024, the company's net loss attributable to equity holders was 2.212 billion yuan, a slight decrease from 2.276 billion yuan in the same period in 2023.
2. Adjustednet loss (non-IFRS) was 2.016 billion yuan, an increase from 1.937 billion yuan in the same period in 2023. Leipao Auto stated that this was mainly due to the company’s increased investment in research and development in the first half of the year, especially in the second quarter, including the development of new models and investment in research and development of intelligent drivingtechnology.

Looking to the future, Leapmotor plans to continue to launch market-competitive models in the next two years, and has begun to implement the development of "end-to-end large model" smart driving technology and applications. Related applications are expected to be launched in 2024 and 2025. R&D expenses in the first half of 2024 have reached 1.221 billion yuan, an increase of 48.4% compared with the same period in 2023.

1. In terms of cash flow, Leapmotor’s net cash generated from operating activities was 268 million yuan in the six months ended June 30, 2024, compared with 152 million yuan in the same period in 2023 Yuan has increased. The company expects that cash flow from operating activities will further improve in the second half of the year, with the goal of achieving positive free cash flow. As of June 30, 2024, the company's asset-liability ratio was 60.3%, which was maintained at a reasonable level. In addition, the delivery volume of

Leapmotor
2. has also achieved significant growth. In the six months to June 30, 2024, total deliveries reached 86,696 vehicles, an increase of 94.8% compared with 44,502 vehicles in the same period in 2023. Since the release of the new model in early March 2024, the delivery volume has increased month by month, and the delivery volume in June exceeded 20,000 units for the first time. -->
   

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