Leap Motors files for Hong Kong IPO

EV startup Leap Motor filed an IPO in Hong Kong on Sunday, an HKEX statement said.

China Securities Regulatory Commission granted permission in August, making it possible for Leap to become the fourth EV maker – after Li Auto, Nio and XPeng – to be listed on HKEX.

Leap delivered 43,748 units last year, quadrupled compared with 2020. In the first half of this year, Leap has already delivered 51,994 units.

But like other EV startups, Leap is yet to turn a profit. Prospectus showed that the company’s net loss widened from 810 million yuan (US$115.58 million) in 2019 to 2.63 billion yuan last year.