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<Research>CICC Cuts LEAPMOTOR (09863.HK) TP to HKD60.8, Maintains Outperform Rating
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LEAPMOTOR (09863.HK) charted a revenue of RMB64.732 billion for the full year of 2025, representing a YoY leap of 101.3%, and net profit attributable to parent turned from a loss to a profit of RMB538 million, CICC's research report said. In 4Q25, operating revenue was RMB21.032 billion, up 56.3% YoY and 8.1% QoQ. It logged a net profit attributable to parent of RMB355 million, showing impressive improvement both YoY and QoQ. Owing to intensified competition in the passenger vehicle sector, the broker axed its 2026 net profit forecast by 19% to RMB3.94 billion and introduced a 2027 net profit forecast of RMB6.15 billion. The Outperform rating was kept, but the target price was slashed by 22.1% to HKD60.8. AASTOCKS Financial News Website: www.aastocks.com |
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