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Xpeng Inc
HKEX:9868

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Xpeng Inc
HKEX:9868
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Price: 67.25 HKD 0.37% Market Closed
Market Cap: HK$127.3B

Xpeng Inc
Investor Relations

In the ever-evolving landscape of electric vehicles, Xpeng Inc. stands out as a formidable player, driven by a vision to transform personal mobility. Founded in 2015, this Chinese automaker has rapidly gained traction with its innovative approach to design and technology. Xpeng operates at the intersection of cutting-edge technology and sustainable transportation, where it produces electric vehicles that not only strive to offer sustainability but also incorporate advanced autonomous driving features. The company has carved a niche by focusing on intelligent driving experiences, introducing its proprietary autonomous driving software and integrating smart cockpit features that appeal to tech-savvy consumers in a highly competitive market.

Xpeng's business model is centered around manufacturing and selling electric vehicles, but it goes beyond mere production. In addition to its core lineup of electric automobiles, the company has invested heavily in software development to enhance users' driving experience through artificial intelligence and connectivity. By offering regular software updates, Xpeng ensures that its vehicles continue to evolve over time, providing customers with a dynamic and modern driving experience. The company generates revenue not only from car sales but also through services like premium software features, charging solutions, and after-sales support. With its commitment to innovation and focus on sustainability, Xpeng positions itself as more than a car manufacturer but as a participant in the larger ecosystem of smart, sustainable transport solutions.

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9868
Hang Seng (Hong Kong)
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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 20, 2026
AI Summary
Q4 2025

Profitability: XPeng reported its first-ever profitable quarter with Q4 net profit of RMB 0.38 billion, driven by higher margins and cost improvements.

Revenue: Q4 revenue was RMB 22.25 billion, up 38.2% YoY and 9.2% QoQ, with vehicle sales of RMB 19.07 billion and services of RMB 3.18 billion.

Deliveries: Full-year deliveries reached 429,449, up 126% YoY; overseas deliveries nearly doubled to 45,000 and accounted for over 15% of revenue.

Margins & cash: FY 2025 gross margin was 18.9% (up 4.6 ppts YoY); Q4 gross margin was 21.3%. Cash on hand was RMB 47.66–47.7 billion and free cash flow was ~RMB 5 billion for 2025.

Autonomy roll-out: VLA 2.0 began user rollout in March and management expects quarterly OTA upgrades, materially improving test-drive conversion, engagement and ASPs.

SoC & partnerships: XPeng’s in-house Turing (touring) SoC is in mass production (200,000+ shipped so far) and Volkswagen is a launch external customer.

Robot strategy: Humanoid robot (RN) targeted for mass production end of 2026 with a monthly target of >1,000 units; company plans RMB 7 billion in physical-AI R&D in 2026.

Guidance: Q1 2026 deliveries guided to 61,000–66,000 units and revenue guided to RMB 12.2–13.2 billion; overseas deliveries target to double in 2026 and contribute >20% of revenue.

Key Financials
Total revenue (Q4 2025)
RMB 22.25 billion
Vehicle sales revenue (Q4 2025)
RMB 19.07 billion
Services and others revenue (Q4 2025)
RMB 3.18 billion
Gross margin (FY 2025)
18.9%
Gross margin (Q4 2025)
21.3%
Vehicle margin (Q4 2025)
13.0%
Net profit (Q4 2025)
RMB 0.38 billion
Loss from operations (Q4 2025)
RMB 0.04 billion (loss)
R&D expense (Q4 2025)
RMB 2.87 billion
SG&A expense (Q4 2025)
RMB 2.79 billion
Deliveries (FY 2025)
429,449 units
Overseas deliveries (FY 2025)
~45,000 units
Cash on hand (Dec 31, 2025)
RMB 47.66 billion / RMB 47.7 billion
Free cash flow (FY 2025)
approximately RMB 5 billion inflow
SoC shipments (since mass production)
over 200,000 units shipped
R&D total (FY 2025)
RMB 9.5 billion
Q1 2026 deliveries guidance
61,000 to 66,000 units
Q1 2026 revenue guidance
RMB 12.2 billion to RMB 13.2 billion
March 2026 deliveries (expectation)
sequential growth of 69% to 101% month-over-month
Overseas revenue contribution target (2026)
over 20% of total revenue
Earnings Call Recording
Other Earnings Calls

Management

Mr. Xiaopeng He
Co-Founder, Chairman & CEO
No Bio Available
Dr. Hongdi Gu
Honorary Vice Chairman of the Board & Co-President
No Bio Available
Ms. Fengying Wang
President
No Bio Available
Mr. Jiaming Wu
Vice President of Finance & Accounting
No Bio Available
Alex Xie
Head of Investor Relations
No Bio Available
Mr. Yeqing Zheng
Company Secretary
No Bio Available
Mr. Yonghai Chen
Vice President of Product Planning
No Bio Available

Contacts

Address
GUANGDONG
Guangzhou
No. 8 Songgang Road, Changxing Street, Cencun, Tianhe District
Contacts
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