Understanding the Market | XPENG-W continues to drop over 4%, third quarter Non-GAAP net loss narrows to 1.532 billion yuan
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XPENG-W's stock price continues to decline, with a drop of over 4%, currently reported at HKD 48.2, with a transaction volume of HKD 519 million. The company released its Q3 2024 performance, with automotive sales revenue of 8.8 billion yuan, a year-on-year increase of 12.1%; net loss of 1.81 billion yuan, a year-on-year narrowing of 53.5%. Non-GAAP net loss was 1.532 billion yuan, lower than market expectations. Goldman Sachs pointed out that gross profit exceeded expectations, but due to investment losses, adjusted net profit was below expectations
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