Market Insight | XPeng Motors Soars Over 9% After Q1 Earnings, Revenue Exceeds Expectations with Gross Margin Sharply Increasing to 12.9%

XPeng Motors opened more than 9% higher after the performance report, with a 9.62% increase to HKD 33.6 per share and a turnover of HKD 272.563 million as of the time of writing. In terms of news, XPeng Motors achieved revenue of RMB 6.55 billion in the first quarter, up 62.3% year-on-year but down 49.8% quarter-on-quarter, surpassing market estimates of RMB 6.11 billion and the RMB 4.03 billion in the same period last year. The net loss was RMB 1.37 billion, significantly narrowing by 41.5% compared to the RMB 2.34 billion loss in the same period last year, with a gross profit margin significantly increasing to 12.9%, up by 11.2 percentage points year-on-year and 6.7 percentage points quarter-on-quarter. The total delivery volume in the first quarter was 21,821 vehicles, a 19.7% year-on-year increase. XPeng Motors expects revenue of RMB 7.5 billion to 8.3 billion in the second quarter and a delivery volume of 29,000 to 32,000 vehicles