# vertical integration
Latest news and articles about vertical integration
Total: 2 articles found
From Near-Death to Market Leader: How Zhu Jiangming Turned Leapmotor into EV’s Surprise Champion — and Why the Hard Part Lies Ahead
Leapmotor, led by founder Zhu Jiangming, vaulted from near-bankruptcy to become the top-selling Chinese new-energy carmaker in 2025 by combining strict cost control, aggressive price-for-feature models and deep in-house engineering. Strategic investments from Stellantis and FAW, plus a successful export push, underpinned growth, but challenges remain: brand elevation, sustainable profitability amid incentive rollbacks, and governance weaknesses exposed by a recent legal snag.
China’s Mulinsen Posts First Annual Loss Since Listing as It Buys Upstream LED Chipmaker
Mulinsen (木林森) warned of its first annual loss since going public in 2015, forecasting a 2025 net loss of 11–15 billion yuan. The company is simultaneously buying a controlling stake in Purui Optoelectronics to secure LED chip and packaging capabilities, a long-term strategic bet that won’t offset near-term financial pain.