Leapmotor founder and chairman Zhu Jiangming has increased his stake in the Chinese electric vehicle manufacturer once again, purchasing nearly HK$490 million ($62.5 million) worth of shares alongside a concerted party, underscoring management’s confidence in the company’s long-term growth prospects.
According to a filing with the Hong Kong Stock Exchange, Zhu and concerted party Fu Liquan recently acquired a combined 11.62 million H shares of Leapmotor in open-market transactions at an average price of approximately HK$41.99 per share.
Stake Increase Lifts Ownership to Nearly 25%
Following the latest purchase, the shareholder group led by Zhu now controls approximately 24.71% of Leapmotor’s equity, reinforcing its position as the company’s largest shareholder group.
The holdings include about 222.8 million H shares traded in Hong Kong and roughly 128.5 million domestic shares.
The latest transaction represents the second insider share purchase by Leapmotor’s management team this year and marks the sixth stake increase carried out by company leadership over the past two years.
Insider Buying Continues Despite Share Price Weakness
The purchase comes after a significant decline in Leapmotor’s share price over recent months.
Leapmotor shares closed at HK$40.98 on Thursday, down about 29% from their recent high of HK$57.80 reached on April 17.
Management’s latest investment follows another share purchase in April, when the same shareholder group acquired additional company stock worth approximately HK$230 million.
Management Invests HK$1.7 Billion Since 2024
The latest transaction continues a pattern of insider buying that has accelerated since 2024.
Including the newest purchase, Leapmotor’s leadership team has invested a cumulative HK$1.7 billion in company shares over the past two years, according to company disclosures.
The repeated share purchases suggest executives remain optimistic about the automaker’s future despite ongoing competition in China’s electric vehicle market and recent volatility in EV sector valuations.
Leapmotor has emerged as one of China’s fastest-growing new energy vehicle manufacturers and has expanded its international ambitions through its strategic partnership with Stellantis, which acquired a significant stake in the company in 2023 and established a joint venture to support overseas expansion.
The latest insider purchase comes as investors continue to closely monitor the performance of Chinese EV manufacturers amid intensifying domestic competition and evolving global trade conditions.