XPeng Q2 Net Loss Sharply Narrows On Strong Revenues; Sees Q3 Revenue Growth

(RTTNews) - XPeng Inc. (XPEV), a Chinese smart electric vehicle company, reported Tuesday that its second-quarter net loss attributable to ordinary shareholders was RMB1.28 billion or $0.18 billion, narrower than last year's loss of RMB2.80 billion.

Adjusted net loss was RMB1.22 billion or $0.17 billion, compared to loss of RMB2.67 billion last year.

Net loss per American depositary share or ADS was RMB1.36 or $0.19, compared with loss of RMB0.68 or $0.09 for the year-ago quarter. Adjusted net loss per ADS was RMB1.29 or $0.18, compared with loss of RMB0.65 last year.

Total revenues were RMB8.11 billion or $1.12 billion for the second quarter, an increase of 60.2 percent from prior year's RMB5.06 billion. Revenues grew 23.9 percent sequentially.

Total deliveries of vehicles were 30,207, representing an increase of 30.5 percent from 23,205 in the corresponding period of 2023.

Looking ahead to the third quarter, the company expects total revenues to be between RMB9.1 billion and RMB9.8 billion, representing a year-over-year increase of approximately 6.7 percent to 14.9 percent.

Deliveries of vehicles are projected to be between 41,000 and 45,000, representing a year-over-year increase of approximately 2.5 percent to 12.5 percent.

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