File photo shows a Leapmotor T03. Credit: CnEVPost
- This is the second stake increase by Leapmotor’s chairman within a month, bringing the combined purchases over the past six months to about HK$900 million.
- Leapmotor’s Hong Kong-listed shares are currently trading near their lowest level since February 2025.
The chairman of Leapmotor (HKEX: 9863), the Chinese electric vehicle maker backed by Stellantis NV (NYSE: STLA), has once again stepped in to increase his stake in the company, seeking to boost investor confidence as the shares slide to a more than one-year low.
Leapmotor chairman and CEO Zhu Jiangming and shareholder Fu Liquan recently bought a combined 4,814,200 H shares on the open market, at an average price of about HK$35.86 per share, according to the company’s Hong Kong stock exchange filing on Thursday.
The company said in the filing that the move was based on a strong confidence in its future development. Over the past six months, the two men’s combined purchases have reached about HK$900 million, including the latest HK$173 million.
Following the latest purchase, the single largest shareholder group, including Zhu, now holds a combined 227,616,838 H shares and 128,517,839 domestic shares, representing 25.05% of the company’s total issued share capital, up from 24.71% a month earlier.
The management’s continued buying comes as Leapmotor’s share price remains under pressure.
Leapmotor’s Hong Kong-traded shares are currently at their lowest level since February 2025. The stock rebounded today, rising 2.5% to HK$35.34 per share as of this writing.
The move marks yet another share purchase by Leapmotor’s management over the past two years. The previous one took place in early June, when Zhu and Fu spent about HK$490 million to buy 11.62 million H shares.
Since 2024, the cumulative amount of stock purchases by Leapmotor’s leadership has approached HK$2 billion. The series of actions demonstrates management’s determination to defend the share price.
In contrast to the weak share performance, Leapmotor’s delivery momentum remains strong. The company delivered 93,376 vehicles globally in June, up 94.51% year-on-year, setting a new monthly record.
In the first half of this year, Leapmotor delivered a cumulative 356,487 vehicles, up 60.82% year-on-year. Second-quarter deliveries reached 246,332 units, up 83.68% year-on-year.
The automaker has set a target of delivering 1 million vehicles for the full year of 2026. To support this goal, the company is pushing ahead with an aggressive product expansion.
Leapmotor updated three SUVs, the C10, C11 and C16, on June 16, with starting prices as low as 125,800 yuan ($18,550). It then launched its first flagship MPV, the D99, on June 25, moving into a higher-end segment.
Overseas markets are rapidly becoming a key growth engine for Leapmotor. The company’s Lafa 5 electric hatchback has already gone on sale in Hong Kong and will progressively roll out across 28 countries and regions worldwide.
Leapmotor delivered 93,376 vehicles globally in June, a new monthly record.
($1 = 6.7838 yuan)
