Leapmotor founder and chief executive Zhu Jiangming has increased his stake in the electric vehicle maker, even as its shares hover near record highs, signaling confidence in the company’s prospects.
According to a filing with the Hong Kong stock exchange, Zhu, along with his concert party Fu Liquan and Fu’s wife, purchased 6.81 million shares in April for HK$316 million (US$40.7 million). This follows a similar purchase of more than HK$300 million last year.
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Following the transaction, Zhu and Fu’s shareholder group now holds a combined 205.5 million H shares and 128.5 million domestic shares, representing 24.99% of Leapmotor’s total issued shares.
“The move is based on strong confidence in Leapmotor’s future development and aims to promote the company’s sustainable, stable and healthy development and safeguard the interests of public investors,” the company said in the announcement.
The latest share acquisition comes as Leapmotor’s Hong Kong-listed stock has surged nearly 70% so far in 2025. As of the latest trading session, shares were up 7.88% at HK$54.75, slightly below their all-time high of HK$58.45.
Backed by global automaker Stellantis NV, Leapmotor announced in October 2023 that Stellantis would invest €1.5 billion to acquire a 20% stake, becoming its largest external shareholder.
In August 2024, Leapmotor revealed that Zhu and the Fu family planned to increase their holdings by up to RMB 300 million over six months.
Founded in 2015, Leapmotor recently posted its first profitable quarter, recording net income of RMB 80.9 million ($11.1 million) in the fourth quarter of 2024.