In This Article:
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Q1 Deliveries: 94,008 units, a 331% year-over-year increase.
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Gross Margin: 15.6% in Q1 2025, improved for seven consecutive quarters.
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Free Cash Flow: Exceeded RMB3 billion in Q1.
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Total Revenue: RMB15.81 billion, a 141.5% year-over-year increase.
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Vehicle Sales Revenue: RMB14.37 billion, a 159.2% year-over-year increase.
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Services and Others Revenue: RMB1.44 billion, a 43.6% year-over-year increase.
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Vehicle Margin: 10.5% in Q1 2025, up from 5.5% in Q1 2024.
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R&D Expenses: RMB1.98 billion, a 46.7% year-over-year increase.
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SG&A Expenses: RMB1.95 billion, a 40.2% year-over-year increase.
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Net Loss: RMB0.66 billion, reduced from RMB1.37 billion year-over-year.
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Cash and Equivalents: RMB45.28 billion as of March 31, 2025.
Release Date: May 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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XPeng Inc (NYSE:XPEV) achieved a record high of 94,008 vehicle deliveries in Q1 2025, marking a 331% year-over-year increase.
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The company's vehicle gross margin improved for seven consecutive quarters, reaching a record high of 15.6% in Q1 2025.
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XPeng Inc (NYSE:XPEV) reported significant progress in AI-driven tech innovation, enhancing capabilities in AI-assisted driving, smart cabins, and Turing chips.
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The company successfully expanded its global presence, with overseas deliveries increasing by more than 31,700 year-over-year.
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XPeng Inc (NYSE:XPEV) anticipates achieving profitability in Q4 2025 and generating substantial free cash flow for the entire year.
Negative Points
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Despite the impressive growth, XPeng Inc (NYSE:XPEV) reported a net loss of RMB0.66 billion for Q1 2025.
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The company faced inventory provisions and losses on purchase commitments related to the upgrade of certain vehicle models.
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R&D expenses increased by 46.7% year-over-year, driven by higher expenses related to new vehicle models and technologies.
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XPeng Inc (NYSE:XPEV) is exposed to foreign exchange risks, particularly due to its business in Europe.
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The company faces increased competition from both domestic and international automakers, impacting market dynamics.
Q & A Highlights
Q: Given XPeng's strong model pipeline and consistent monthly sales of 30,000 units, should we expect a significant sales jump in the coming quarters? A: Xiaopeng He, CEO, stated that XPeng's performance aligns with their long-term strategy. Starting Q3, they plan to launch new models aggressively, enhancing AI capabilities and introducing the Kunpeng electric drive system, which will drive future growth. Brian Gu, Vice President, added that new launches like the MONA Max and upcoming models will catalyze further growth, expecting historical highs in deliveries and improved product mix for better profit margins.