News summary

Xiaopeng Automobile's revenue in the first quarter was 65asiangameshangzhou2023.500 million yuanasiangameshangzhou2023, increased by 62asiangameshangzhou2023.3% exceeded expectations, and net loss narrowed 41.5% year-on-year to 1.37 billion yuanasiangameshangzhou2023; Gross profit margin increased to 12.9% year-on-year. Total revenue in the second quarter is expected to be 7.5 billion yuan to 8.3 billion yuan.

Newsletter text

[Xiaopeng Automobile's first-quarter revenue exceeded expectations, and its share price rose sharply.] Xiaopeng Automobile's first-quarter results showed that its revenue reached 6.55 billion yuan, a year-on-year increase of 62.3%, exceeding market expectations of 6.11 billion yuan. At the same time, net loss decreased by 41.5% year-on-year to 1.37 billion yuan. [Gross profit margin has increased simultaneously, and delivery volume is expected to increase] The company's gross profit margin increased significantly to 12.9% in the first quarter of this year, a year-on-year increase of 11.2 percentage points. Xiaopeng Automobile's sales in the first quarter increased by 19.8% year-on-year to 21,800 units, and deliveries in the second quarter are expected to be between 29,000 and 32,000 units. [Total revenue is expected to continue to grow] Looking forward to the second quarter, Xiaopeng Automobile expects total revenue to be between 7.5 billion yuan and 8.3 billion yuan, indicating the company's positive expectations for future results. [New model plans and overseas expansion raise market expectations] He Xiaopeng, chairman of Xiaopeng Automobile, announced in an earnings conference call that he will launch a B-class pure electric sedan based on the latest technology in the fourth quarter, which is expected to become a popular choice in the market in the second half of the year. In addition, the company also plans to accelerate its expansion in overseas markets, and export business will become an important driving force for sales and profit growth.