XPeng's Q3 performance key indicators have all reached new highs, with revenue doubling year-on-year, comprehensive gross margin exceeding 20% to set a historical record, and net loss significantly narrowing by nearly 80% year-on-year. It is expected that Q4 deliveries and revenue will both grow by over 30% year-on-year. The company has previously clarified its shift towards positioning as a &#34;global embodied intelligence company,&#34; betting on physical AI, Robotaxi, and humanoid robots.
Key Financial Indicators
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Q3 total revenue of RMB 20.38 billion, a year-on-year increase of 101.8%;
Automotive sales revenue of RMB 18.05 billion, a year-on-year increase of 105.3%;
Comprehensive gross margin exceeded 20.1% (up 4.8 percentage points year-on-year);
Automotive gross margin at only 13.1% (down 1.2 percentage points quarter-on-quarter);
Net loss of RMB 380 million, a year-on-year narrowing of 78.9%, and a quarter-on-quarter narrowing of 20.3%;
Non-GAAP net loss of only RMB 150 million, a significant year-on-year narrowing of 90.1%;
Cash reserves of RMB 48.33 billion, an increase of RMB 760 million quarter-on-quarter.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/87c31d7e-7adb-4585-b4ff-a226303e480c.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/87c31d7e-7adb-4585-b4ff-a226303e480c.png"/>
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Core Business Progress
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Q3 delivery volume of 116,007 vehicles, a year-on-year surge of 149.3%;
Service and technology R&amp;D revenue of RMB 2.33 billion, with a gross margin as high as 74.6%, becoming a major support for comprehensive gross margin;
Sales network expanded to 690 stores, with 2,676 charging stations (including 1,623 supercharging stations);
Q4 delivery guidance of 125,000 to 132,000 vehicles, a year-on-year increase of 36.6%-44.3%.
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Strategic Transformation
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The company is betting on physical AI, Robotaxi, and humanoid robots;
Q3 R&amp;D expenditure of RMB 2.43 billion, a year-on-year increase of 48.7%, and a quarter-on-quarter increase of 10.1%;
Sales and management expenses of RMB 2.49 billion, a year-on-year increase of 52.6%, with the expense ratio still at a high level.
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Chairman and CEO He Xiaopeng stated that the company's sales scale and market share are in the early stages of rapid expansion. Vice Chairman and Co-President Gu Hongdi noted that the company's comprehensive gross margin broke through 20% for the first time in the third quarter, thanks to effective cost control and the potential released from technology R&amp;D-related revenues

XPEV

09868

- Xiaopeng Motors reported record highs in key performance indicators for Q3, with total revenue reaching 20.38 billion yuan, a year-on-year increase of 101.8%.  
- The company aims to position itself as a "global embodied intelligence company," focusing on physical AI, Robotaxi, and humanoid robots, while Q4 delivery and revenue are expected to grow over 30% year-on-year.  
- Notably, the gross margin surpassed 20% for the first time, attributed to effective cost control and the release of potential from technology R&D revenues.

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XPeng

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XPeng's Q3 revenue doubled, net loss narrowed by nearly 80%, and Q4 delivery and revenue are expected to increase by over 30% year-on-year | Financial Report Insights