Leapmotor's 2024 Half-Year Report Revenue Increase, Net Loss, R & D Investment and Future Plans

TapTechNews August 15th news, Leapmotor today released an announcement that in the first half of 2024, its revenue was 8.845 billion yuan, an increase of 52.2% compared to 5.813 billion yuan in the same period of 2023.

As of June 30, 2024, the net loss attributable to equity holders of the Leapmotor company was 2.212 billion yuan, compared to 2.276 billion yuan in the same period of 2023. The adjusted net loss (non-IFRS) was 2.016 billion yuan, compared to 1.937 billion yuan in the same period of 2023.

Leapmotor said that on the basis of the improvement of hand profit during the reporting period, while the loss did not narrow significantly, the main reason is that the company increased R & D investment in the first half of the year, especially in the second quarter, including the development of future new models and the increased investment in the development of intelligent driving technology.

Leapmotor company said that it will further introduce competitive models in the market in the next two years. The company has launched and is implementing the development of the end-to-end large model intelligent driving technology and application, and plans to launch relevant applications in 2024 and 2025. The R & D expense in the first half of 2024 was 1.221 billion yuan, an increase of 48.4% compared to the same period in 2023.

As of June 30, 2024, the net cash generated from operating activities for the six months was 268 million yuan, compared to the net cash generated from operating activities of 152 million yuan in the same period of 2023. It is expected that the cash flow from operating activities will be further improved in the second half of the year, and the goal is to achieve a positive free cash flow. The company's asset-liability ratio on June 30, 2024 was 60.3%, remaining at a reasonable level.

TapTechNews learned that as of June 30, 2024, the total delivery volume of Leapmotor was 86,696 vehicles, an increase of 94.8% compared to 44,502 vehicles in the same period of 2023; since the release of the 2024 new models at the beginning of March 2024, the delivery volume has increased month by month, and the delivery volume exceeded 20,000 units for the first time in June.