HK Stock Market Move | LEAPMOTOR(09863) rose more than 4% with a year-on-year increase of 154% in March deliveries, topping the list of new forces in car manufacturing for the first time.

LEAPMOTOR (09863) rose more than 4%, as of the deadline for submission, it increased by 4.46% to HK$52.7, with a turnover of HK$137 million. On the news front, on April 1st, new energy vehicle startups successively released their delivery results for March. Among them, LEAPMOTOR topped the list of new energy vehicle deliveries for the first time. LEAPMOTOR delivered 37,095 vehicles in March, a year-on-year increase of 154.65%; from January to March, LEAPMOTOR delivered a total of 87,552 new vehicles, a year-on-year increase of 162.05%. The flagship model, Zero Run C16, has delivered over 55,000 vehicles. On March 10th, Zero Run B10 started pre-sale. As the first in the industry to introduce a laser radar intelligent driving version priced in the 120,000 yuan range, it received over 30,000 orders within 48 hours. "70% of users chose the laser radar intelligent driving version." Zero Run Chairman Zhu Jiangming revealed that Zero Run B10 will officially be launched on April 10th. UBS International pointed out that LEAPMOTOR's improved and encouraging operating data in the fourth quarter of last year, with the company expecting a gross profit margin target of 10% to 15% this year. The B10 model has just been launched with an attractive price range between 110,000 and 139,000 yuan and shipments will begin in April, expected to see a large batch of deliveries in the third quarter. The bank maintains its "outperform the market" rating on LEAPMOTOR, with a target price raised from HK$46.1 to HK$73.2. Citigroup's research report stated that it maintains a "buy" rating on LEAPMOTOR, with a target price raised from HK$50.1 to HK$74.2.