零跑汽车2025中期报告

浙江零跑科技股份有限公司ZHEJIANG LEAPMOTOR TECHNOLOGY CO., LTD. 2 4 6 16 38 39 40 41 43 44 45 88 (ESG) (FCG, HKFCG) Grégoire OlivierDouglas Ostermann (FCG, HKFCG) 9863 H 1617 20256 2520256 25 4511 33191922 | 20253 4511 22 127 www.leapmotor.com •2025630242.5202488.5174.0%1 20256 3014.1%20241.1%13(i)(ii)(iii)(iv) 20256300.32024(22.1)20256 303.32024(20.2) •202563028.620242.7 20256 308.62024(4.8) •2025630295.8 •2025221,6642024155.7% •20257850,12957,066620255•2025925100•C102025831171.5C1020251-8SUV•20256C1125•2025917C16820SUVC1613•B10•B012025 7 24371 C102025515800V14600800V220kWC10 2025B3C3LEAP 3.5 B102025 4 1012SUV8650B101182024CMF•98B10 C 1 62 0 2 561 8CTC2.0800VSUV65702.5 C11252025710C11C1150%11012515-20SUVAR-HUD800V B012025 7 24B01650kmA 98Lafa52025Ultra2026 AR-HUDC1160AR-HUDARDCAR-HUDARADASHUD 20253 10LEAP 3.586508295 20252024100%EEA 3.586506B2025VLA2025NOA 2025CLTC1%NVH(RMS)≤10kPa 202520256090% CTC(GB 38031-2025)CTC1,02912825CTC2.0 20252,925115 DMP360202520242527% 2025630286888063154914611+N50% 2025326[2025]6142025829202582270,213,338 2025(1)15min99.5%9(2)98.3%4.4(3)48H91.5%14.32025 202520,3756BEV1%74,000 20253 3 B102025798T03,C10B10 2025T032025 ECOBEST2025 2025612C10T031,500 ESG 2025ESG20251MSCI ESG AA 20256Leapmotor International B.V.3060055050 2025326500 20254 18StellantisStellantisGurunC1087C10-OTS 2026 20256 3034.320246301.03,330.0% 2025630242.520246 3088.5174.0% 20246301.1%202563014.1%(i)(ii)(iii)(iv) 20256 30231.0202463088.4161.4% 20256 3014.120246309.056.7% 2025630208.220246 3087.5137.9% 20256307.920246304.479.5% 20256300.32024630(22.1)20256 303.32024630(20.2) 20256 3018.920246 3012.254.9% 20256 30(0.9)2024630(24.0)96.3% 20256 300.0220246 30(1.65) 20256301.120246 301.942.1% 20256 30295.8 20256 300.12024630(0.1)200.0% 20256308.62024630(4.8)13.4 20256 300.520246300.366.7% 20256302024123126.723.7 2025630 20256 3049.42024123119.8149.5% 20256 30 20256 3028.620246 302.725.9(i)(ii) 20256 3020256 305% 20256 30 20256 3053.420256 3020.0 20256 30 2025630 20256 30 20256 30 20256 30 20256 3021,656 29.7 2025630XV(a)XV78(b)352(c)C3 (4)2,000,000 (5)2,000,000 (1)2 0 2 563 0220,552,1741,116,413,915H (2)70%30%4,077,472H23,606,500H48.31%21,761,266H49,445,238H 20256 30XV(a)XV78(b)352(c) (3)2025352028928 2025630XV23336 (1)(http://www.hkexnews.hk)20256 30220,552,1741,116,413,915H (2)20162 120253 520289 28 (10)(i)0.01%(ii)59.99%40.0% (3) (4)45,761,266H (5) (11)1,223,24258.83% StellantisSTLA (8)0.0018%60.6%9.09%30.3% (12)33.33%33.33%6,120,000H (9)1 20256 30XV235% III A.I 2021131I I III I12,806,5000.90% I IIII II20379I I12 I I6,000,000 B.II (1)I(2)I1.27(i)1(ii)I(iii)II(3)23(4)1%(5)20246 25I3,000,000 2021131II II II57,723,1644.06% II IIII1 IIIIII IIII10 IIIIIIIIII IIIIIIII I III IIIIII II6 II II1,168,190702,404 II1.4(i)1(ii)II(iii)IIII2II 23H II20251 220251 1020254 320254 16H31.4030.5055.4544.35 C. 2022622 50,594,3483.56% 27.26 6 3 34,466,72320228 527.26 (1)20228 527.26620229 292026928(2)20242025(3)23(4)1%(5)20251 120256 30 2025630905,000 13.51B(1) Stellantis 20256 3034,466,72334,466,72320256 302.58% 20231026StellantisStellantisStellantis43.8Stellantis194,260,030HStellantis20231011Stellantis 13.2013.2113.22 13.51B(1) 2025625 194.3Stellantis43.820231025H36.80Stellantis20231120 Stellantis8,508.68,496.10 StellantisStellantisStellantis20231026Stellantis 20258 2920258 2270,213,338 20241 19H2024119 70,213,338(i)31.84%24.15%(ii)5.19%4.94% Stellantis202310 26202311 20 H31.6036.99 202410910,802,0525,401,02627,005,13027,005,13040.8010.9076737.03 2,597.3(i)75%1,948.0(ii)25%649.3 202410 9202533120258 29 2022929H6,168.9 •40.0%•25.0%•25.0%•10.0% 20258 29202262214,633,225H C1C.2.1 C.2.1 20256 30 20256 302410 398720256 303434 2410 34 2025818 1 20256302025630 2 (a) 202563020252024630 2 (b) 202520246 30 (c) OTAFOTA 2025630108,773,00020241231161,419,000660,107,00020241231285,310,000 (e) (i) (a) 2025202463015%2018201815%2024320256 3015%2024202415% 202563025%20246 3025% 20256 3016.5%20246 3016.5% 2021200% (b)202112(OECD)BEPS 2.0202520256 620251 120252025630 9 (a) 20242025630 (b) 202563023 20246302024630 20256 3020246 30 (a)2025630399,237,000788,246,00020241231408,937,000546,785,00025(a) (b)20256 3025(b)24 20256 3014,520,000202412 31117,256,000 (c) 13 13 14 (a) •• (b) 14 (c) 20256 3018,655,236,00020246 307,924,953,00033,206,00020246 30119,430,000 20256 3038,470,00020246 30154,867,000 19 (a) ••• 36(c) 19 (b) 202520246 30 20 (b) 20256302,135,631,000202412 311,193,550,00056,080,00020241231348,305,000202412 3160,115,000 (c) 20256301,914,780,00020241231565,814,00026,000,0002024123126,000,000 (d) 20256302025630202412312025630488,377,000202412 31243,556,000 202563053,400,00020241231123,400,000400,000,0002024123110,800,000202412 3110,800,00025(a) (a)70,213,33837.032025326[2025]6142,600,000,00070,213,3382,529,786,6622,634,000222025