🏢 公司Newsroom09863Doubao · 实盘不做把握 7/10不做原因:无增量信息
北京时间·🕒 发布 17:00:00(中欧 11:00)·⟳ 抓取 17:03:04回填·⚡ 决策 10-12 17:08:59 +8m59s·15.1 天前
零跑巴黎车展发布B03/D19并确认B10西班牙萨拉戈萨投产,多为预期内产品展示与仪式性投产确认
通稿为巴黎车展品牌/产品营销:B03、D19仅是亮相与技术展示,无售价、订单或销量;B10萨拉戈萨投产已于5月官宣意向、9月已有preseries量产车下线和400名新增招聘的公开报道,10月12日的‘正式投产’只是仪式性确认,无新增硬事实。零跑9863.HK当日在2.45倍量上+4.31%、盘中冲高37.64回落收36.3(长上影),显示车展预期已被提前交易,超大市值(约5161亿港元、PE 87)上缺乏可量化催化,edge不足。
📄 原文09863↗ 原文
The B03 urban hatchback joins the Leapmotor family, bringing accessible innovation, advanced connectivity and electric…
不做 零跑汽车(09863.HK)
无增量硬事实:B03/D19仅车展亮相无售价/订单,B10西班牙投产为5月已官宣、9月已preseries量产的预期内里程碑;当日放量+4.31%冲高回落已price-in,约5161亿港元市值上软催化无正期望,不做
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
零跑巴黎车展发布B03/D19并确认B10西班牙投产,但均为产品展示与已充分预告的里程碑,无订单/收入增量,且股价当日放量冲高回落已反映预期,软催化对超大市值标的不构成正期望交易,回避。
消息传播链
- 巴黎车展官方通稿:B03欧洲首发、D19展示、B10萨拉戈萨‘正式投产’确认,无订单或财务数据市场反应:9863.HK当日量比2.45、收涨4.31%,盘中高点37.64后回落收36.3,长上影显示预期兑现
关键理由
- B10本地投产战略方向正面,长期降低欧盟关税风险并强化本地化叙事,但这是5月已官宣、9月已preseries量产的既定事项,无信息增量
- B03/D19仅为车展亮相与参数展示,未进入付费采用阶段,发布不等于需求或收入
主要风险
- 若后续公布超预期B03预售订单或欧洲月度销量数据,叙事可能重新定价;当前通稿无此类数据
- 零跑估值高(PE TTM约87)且当日放量长上影,情绪兑现后短期回落风险偏高
反向证据
- 做多前查反向 · 来源 web · 日期 2026-10-12 · 影响 weakens
通稿及检索未见任何订单、销量或收入指引数据,仅有产品参数与投产叙事,无硬利多支撑
检索:零跑 B10 欧洲 订单 销量 指引 B03 预售 超预期 - 做多前查反向 · 来源 futu · 日期 2026-10-12 · 影响 weakens
当日量比2.45、+4.31%但盘中冲高37.64回落收36.3,长上影叠加PE约87,预期已交易且追高风险大
检索:9863.HK 2026-10-12 量价 高位 回落
先例如何影响了这次决策
对本次决策的影响:结论主要由无增量硬事实+当日已price-in驱动,未依赖先例;缺乏aligned先例不改变AVOID结论
方向:无可直接对照的首发先例
涨幅量级:未用先例校准幅度
形态:当日盘中冲高回落的长上影提供了本次‘见光/预期兑现’的直接价格证据
工具执行结果 · 成功 3 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 10 ms
{"result": "search_processed_events:agent query=`leapmotor b10 production starts spain stellantis zaragoza | leapmotor paris motor show 2026 b03 d19 b10 spain zaragoza production | 零跑 巴黎车展 b03 d19 b10 西班牙萨拉戈萨投产`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agent query 表达式没有召回候选,不 - web_search 成功 doubao_search · 1,748 ms
豆包搜索结果(原始查询:Leapmotor B10 Zaragoza Spain production start 2026 Stellantis plant announcement date;API SearchType:web) - stock_quote 成功 stock_tools HTTP · 1,879 ms
{
原文全文
展开原文 · 7,179 字
The B03 urban hatchback joins the Leapmotor family, bringing accessible innovation, advanced connectivity and electric urban practicality
The D19 showcases the next evolution of Leapmotor technology combining flagship luxury vision with state-of-the-art intelligent features
Leapmotor reinforces its long-term commitment to Europe through local production of the best-seller B10
PARIS, October 12, 2026
– Leapmotor International has unveiled the next chapter of its European growth strategy at the 2026 Paris Motor Show, presenting its most comprehensive European line-up to date. The showcase is headlined by the European premiere of the all-new B03 urban hatchback, the presentation of the flagship D19 SUV, and the confirmation that production of the B10 has officially started in Spain, marking a major milestone in the company's localization strategy.
Just two years after its European debut at the Paris Motor Show, Leapmotor continues to accelerate its expansion across the continent with an increasingly diversified product portfolio, a growing retail footprint and a long-term commitment to delivering innovative electric mobility tailored to European customers.
Speaking at the Paris Motor Show press conference,
Danilo Annese, Chief Executive Officer of Leapmotor International
, outlined the company's strategic vision for the next phase of growth, highlighting the role of innovation, localization and customer-centric mobility solutions in strengthening Leapmotor's position in Europe.
B03 BRINGS ACCESSIBLE INNOVATION TO THE COMPACT SEGMENT
Making its European debut at the Paris Motor Show, the all-new
B03
expands Leapmotor's product portfolio with a smart electric hatchback developed specifically for modern urban lifestyles. Combining advanced connectivity, practical versatility and a spacious interior, the B03 has been designed to bring premium technologies and everyday usability to the heart of the compact segment.
Built on Leapmotor's latest Compact Electric Platform, the B03 delivers up to
390 km WLTP range
and supports 2.5C fast charging, allowing a 10-to-80% recharge in just 21 minutes. Powered by an efficient electric drivetrain delivering up to
145 kW
, it combines responsive performance with the efficiency and ease of use required for everyday mobility.
Despite its compact footprint, the B03 offers class-leading interior space, including up to
888 mm of rear legroom
and a highly versatile luggage compartment. Innovative solutions such as the waterproof
Leap
Box
storage area, the
LeapFlex
rear-Seat system and more than 30 intelligent storage compartments have been designed to adapt seamlessly to the changing demands of daily life.
At the centre of the user experience is a
14.6-inch floating touchscreen
and
8.8-inch digital instrument cluster
, powered by the latest generation
Leap OS 4.0 Plus
. Combined with wireless Apple CarPlay and Android Auto, over-the-air updates and a smartphone-inspired interface, the B03 delivers a connected and intuitive digital experience that extends naturally from the user's mobile device.
The B03 also places a strong emphasis on comfort and quality, offering features rarely found in the compact B-segment, including heated seats, a heated steering wheel, automatic climate control and extensive use of soft-touch, eco-friendly materials throughout the cabin.
Safety is equally central to the vehicle's design. Supported by Leapmotor's latest Electronic & Electrical Architecture, a comprehensive sensor suite and
21 advanced driver assistance systems
, the B03 has been engineered to deliver confidence and reassurance in every driving scenario.
With its distinctive design, intelligent technologies, practical versatility and outstanding value proposition, the B03 embodies Leapmotor's commitment to making advanced electric mobility accessible to a broader audience and sets a new benchmark for innovation in Europe's highly competitive compact EV segment.
D19 SHOWCASES LEAPMOTOR'S TECHNOLOGICAL FLAGSHIP
Also on display in Paris is the D19, Leapmotor's new flagship SUV and a showcase for the brand's latest advances in intelligent mobility, premium comfort and vehicle architecture. Designed as a global flagship model, the D19 demonstrates the breadth of Leapmotor's technology capabilities and its ambition to compete in higher-value segments worldwide.
The D19 combines exceptional interior space with a premium passenger experience, featuring a versatile six- or seven-seat layout, including executive second-row captain's chairs in its premium 2+2+2 configuration, alongside a large infotainment ecosystem, advanced driver assistance technologies and an innovative suspension system capable of adapting to road conditions in real time.
Powered by Leapmotor's latest Super REEV technology, the D19 delivers long-distance capability, fast charging performance and an advanced Cell-to-Chassis architecture, reinforcing the company's position at the forefront of next-generation electrified mobility solutions.
BUILDING IN EUROPE FOR EUROPEAN CUSTOMERS
Further reinforcing its long-term commitment to the region, Leapmotor confirmed that production of the all-electric B10 has officially commenced at its first European manufacturing facility in Zaragoza, Spain. Developed in partnership with Stellantis and leveraging its industrial expertise and manufacturing footprint, the facility will produce vehicles specifically for European customers.
The start of production represents a significant milestone in Leapmotor's localization strategy, bringing manufacturing closer to customers and enabling a true local-for-local approach. By building vehicles in Europe for European customers, Leapmotor is strengthening its regional presence, responding more effectively to local market needs and further enhancing customer confidence.
STRONGEST PRESENCE EVER AT THE PARIS MOTOR SHOW
The 2026 Paris Motor Show also showcased Leapmotor's largest-ever exhibition presence in Europe. The 500-square-metre stand featured the brand's most comprehensive model line-up to date, alongside dedicated experiences designed to bring customers closer to the Leapmotor brand universe.
The stand included a
gaming area
inspired by the B05's "
The Endless Game
" concept and, for the first time in Europe, a dedicated
merchandising
corner featuring Leapmotor-branded apparel and accessories. These initiatives reflect the company's ambition to strengthen its emotional connection with customers and expand its brand presence beyond the automotive sector.
To further support the transition to electric mobility, Leapmotor customers also benefit from access to the Stellantis charging ecosystem,
Free2move Charge
, providing integrated charging solutions and access to more than one million public charging points across Europe.
As Leapmotor enters its next phase of European growth, the combination of innovative new products, local manufacturing and a rapidly expanding customer ecosystem underline the company's ambition to become a leading player in the European electric vehicle market.
For further information, please contact:
Luigia VAILATI
+39 347 3360263
luigia.vailati@stellantis.com
www.stellantis.com
The D19 showcases the next evolution of Leapmotor technology combining flagship luxury vision with state-of-the-art intelligent features
Leapmotor reinforces its long-term commitment to Europe through local production of the best-seller B10
PARIS, October 12, 2026
– Leapmotor International has unveiled the next chapter of its European growth strategy at the 2026 Paris Motor Show, presenting its most comprehensive European line-up to date. The showcase is headlined by the European premiere of the all-new B03 urban hatchback, the presentation of the flagship D19 SUV, and the confirmation that production of the B10 has officially started in Spain, marking a major milestone in the company's localization strategy.
Just two years after its European debut at the Paris Motor Show, Leapmotor continues to accelerate its expansion across the continent with an increasingly diversified product portfolio, a growing retail footprint and a long-term commitment to delivering innovative electric mobility tailored to European customers.
Speaking at the Paris Motor Show press conference,
Danilo Annese, Chief Executive Officer of Leapmotor International
, outlined the company's strategic vision for the next phase of growth, highlighting the role of innovation, localization and customer-centric mobility solutions in strengthening Leapmotor's position in Europe.
B03 BRINGS ACCESSIBLE INNOVATION TO THE COMPACT SEGMENT
Making its European debut at the Paris Motor Show, the all-new
B03
expands Leapmotor's product portfolio with a smart electric hatchback developed specifically for modern urban lifestyles. Combining advanced connectivity, practical versatility and a spacious interior, the B03 has been designed to bring premium technologies and everyday usability to the heart of the compact segment.
Built on Leapmotor's latest Compact Electric Platform, the B03 delivers up to
390 km WLTP range
and supports 2.5C fast charging, allowing a 10-to-80% recharge in just 21 minutes. Powered by an efficient electric drivetrain delivering up to
145 kW
, it combines responsive performance with the efficiency and ease of use required for everyday mobility.
Despite its compact footprint, the B03 offers class-leading interior space, including up to
888 mm of rear legroom
and a highly versatile luggage compartment. Innovative solutions such as the waterproof
Leap
Box
storage area, the
LeapFlex
rear-Seat system and more than 30 intelligent storage compartments have been designed to adapt seamlessly to the changing demands of daily life.
At the centre of the user experience is a
14.6-inch floating touchscreen
and
8.8-inch digital instrument cluster
, powered by the latest generation
Leap OS 4.0 Plus
. Combined with wireless Apple CarPlay and Android Auto, over-the-air updates and a smartphone-inspired interface, the B03 delivers a connected and intuitive digital experience that extends naturally from the user's mobile device.
The B03 also places a strong emphasis on comfort and quality, offering features rarely found in the compact B-segment, including heated seats, a heated steering wheel, automatic climate control and extensive use of soft-touch, eco-friendly materials throughout the cabin.
Safety is equally central to the vehicle's design. Supported by Leapmotor's latest Electronic & Electrical Architecture, a comprehensive sensor suite and
21 advanced driver assistance systems
, the B03 has been engineered to deliver confidence and reassurance in every driving scenario.
With its distinctive design, intelligent technologies, practical versatility and outstanding value proposition, the B03 embodies Leapmotor's commitment to making advanced electric mobility accessible to a broader audience and sets a new benchmark for innovation in Europe's highly competitive compact EV segment.
D19 SHOWCASES LEAPMOTOR'S TECHNOLOGICAL FLAGSHIP
Also on display in Paris is the D19, Leapmotor's new flagship SUV and a showcase for the brand's latest advances in intelligent mobility, premium comfort and vehicle architecture. Designed as a global flagship model, the D19 demonstrates the breadth of Leapmotor's technology capabilities and its ambition to compete in higher-value segments worldwide.
The D19 combines exceptional interior space with a premium passenger experience, featuring a versatile six- or seven-seat layout, including executive second-row captain's chairs in its premium 2+2+2 configuration, alongside a large infotainment ecosystem, advanced driver assistance technologies and an innovative suspension system capable of adapting to road conditions in real time.
Powered by Leapmotor's latest Super REEV technology, the D19 delivers long-distance capability, fast charging performance and an advanced Cell-to-Chassis architecture, reinforcing the company's position at the forefront of next-generation electrified mobility solutions.
BUILDING IN EUROPE FOR EUROPEAN CUSTOMERS
Further reinforcing its long-term commitment to the region, Leapmotor confirmed that production of the all-electric B10 has officially commenced at its first European manufacturing facility in Zaragoza, Spain. Developed in partnership with Stellantis and leveraging its industrial expertise and manufacturing footprint, the facility will produce vehicles specifically for European customers.
The start of production represents a significant milestone in Leapmotor's localization strategy, bringing manufacturing closer to customers and enabling a true local-for-local approach. By building vehicles in Europe for European customers, Leapmotor is strengthening its regional presence, responding more effectively to local market needs and further enhancing customer confidence.
STRONGEST PRESENCE EVER AT THE PARIS MOTOR SHOW
The 2026 Paris Motor Show also showcased Leapmotor's largest-ever exhibition presence in Europe. The 500-square-metre stand featured the brand's most comprehensive model line-up to date, alongside dedicated experiences designed to bring customers closer to the Leapmotor brand universe.
The stand included a
gaming area
inspired by the B05's "
The Endless Game
" concept and, for the first time in Europe, a dedicated
merchandising
corner featuring Leapmotor-branded apparel and accessories. These initiatives reflect the company's ambition to strengthen its emotional connection with customers and expand its brand presence beyond the automotive sector.
To further support the transition to electric mobility, Leapmotor customers also benefit from access to the Stellantis charging ecosystem,
Free2move Charge
, providing integrated charging solutions and access to more than one million public charging points across Europe.
As Leapmotor enters its next phase of European growth, the combination of innovative new products, local manufacturing and a rapidly expanding customer ecosystem underline the company's ambition to become a leading player in the European electric vehicle market.
For further information, please contact:
Luigia VAILATI
+39 347 3360263
luigia.vailati@stellantis.com
www.stellantis.com
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7eef4ac886· 2026-10-12 17:08 · doubao / doubao-seed-evolving-latest-version · 策略包2226518bfdee当前