--- title: "XPENG-W Q2 Revenue RMB 19.74 Billion, Gross Profit Margin 20.7% Beats Expectations | Financial Report Insights" type: "News" locale: "en" url: "https://longbridge.com/en/news/296782818.md" description: "XPeng's total revenue for Q2 was RMB 19.74 billion, up 8% year-over-year and 51.5% quarter-over-quarter. The gross profit margin was 20.7%, higher than the estimated 19.2%. However, the net loss widened from RMB 480 million in the same period last year to RMB 1.34 billion, an increase of nearly 1.8 times year-over-year. For the third quarter, the company expects total revenue to be between RMB 21.7 billion and RMB 23.4 billion, with vehicle deliveries between 115,000 and 121,000 units" datetime: "2026-08-24T14:59:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296782818.md) - [en](https://longbridge.com/en/news/296782818.md) - [zh-HK](https://longbridge.com/zh-HK/news/296782818.md) generator: "portal-rs" --- # XPENG-W Q2 Revenue RMB 19.74 Billion, Gross Profit Margin 20.7% Beats Expectations | Financial Report Insights XPeng announced impressive gross profit margin performance for the second quarter, but its third-quarter delivery and revenue guidance fell significantly short of market expectations. The company also announced that its robotics subsidiary had completed a USD 900 million financing round and would officially enter the humanoid robotics sector. **In the second quarter of 2026, XPeng's total revenue was RMB 19.74 billion, below the market estimate of RMB 20.2 billion, representing an 8% year-over-year increase and a 51.5% quarter-over-quarter increase. The gross profit margin was 20.7%, higher than the estimated 19.2% and up 3.4 percentage points from the same period last year. However, the net loss widened from RMB 480 million in the same period last year to RMB 1.34 billion, an increase of nearly 1.8 times year-over-year.** For the third quarter, **the company expects total revenue to be between RMB 21.7 billion and RMB 23.4 billion, with vehicle deliveries between 115,000 and 121,000 units,** marking a significant quarter-over-quarter improvement. On the day the financial report was released, XPeng's robotics subsidiary, Dogotix Inc., signed a share purchase agreement to sell newly issued shares to multiple parties for USD 900 million, indicating that the company is accelerating its commercialization layout in physical AI. He Xiaopeng, Chairman and CEO, stated that the company aims not only to build one of China's most valuable humanoid robotics companies but also to become a global leader in embodied AI. Following the earnings release, XPeng's US shares fell more than 5% in pre-market trading. ## Revenue Rebounds Significantly Quarter-over-Quarter, Gross Profit Margin Exceeds 20% for Two Consecutive Quarters XPeng's total revenue in the second quarter jumped 51.5% quarter-over-quarter, **mainly driven by the dual factors of seasonal demand recovery and rapid growth in service business.** Among them, vehicle sales revenue was RMB 17.05 billion, a slight 1% year-over-year increase and a 55% quarter-over-quarter increase; service and other income was RMB 2.7 billion, a 93.9% year-over-year increase and a 32.6% quarter-over-quarter increase. The high year-over-year growth mainly came from increased revenue from technical R&D services provided to automakers, as well as contributions from parts and accessories sales. The gross profit margin remained above 20% for two consecutive quarters, recording 20.7% in the second quarter, higher than 17.3% in the same period last year, and basically flat compared to 20.6% in the previous quarter. The profit margin for service and other businesses reached as high as 75.1%, showing significant year-over-year improvement and providing effective support for the overall gross profit margin. Gu Hongdi, Vice Chairman and Co-President, stated that despite high overall cost pressures in the industry, the company's gross profit margin continued to exceed 20%, with premiumization and global breakthroughs being the main drivers. He expects that the mass production and commercialization of physical AI technology will accelerate in the coming year, bringing significant gross profit growth. ## Sales Volume Growth Stalls Year-over-Year, Net Loss Widens Significantly **Delivery data shows that total vehicle deliveries in the second quarter were 103,295 units, almost flat compared to 103,181 units in the same period last year, with a year-over-year increase of only 0.1%. The vehicle profit margin was 12.1%, down 2.2 percentage points from 14.3% in the same period last year, which the company attributed to product production transitions.** Pressure on expenses continued to rise. R&D expenses were RMB 2.91 billion, a 32.1% year-over-year increase, mainly due to increased investment in new model development and AI-related technologies. Selling, general and administrative expenses were RMB 2.5 billion, a 15.2% year-over-year increase, mainly driven by increased marketing and advertising costs. The combined total of these two expense items was approximately RMB 5.4 billion, consuming most of the gross profit. These pressures were ultimately reflected in the income statement: the net loss for the second quarter was RMB 1.34 billion, widening nearly 1.8 times from RMB 480 million in the same period last year. The non-GAAP net loss was RMB 1.24 billion, also significantly widening from RMB 390 million in the same period last year. Notably, the loss narrowed compared to RMB 1.78 billion in the previous quarter, showing obvious quarter-over-quarter improvement. ## Third Quarter Guidance Below Market Expectations The company's outlook for the third quarter constitutes the most watched signal in the current earnings report. XPeng expects third-quarter deliveries of 115,000 to 121,000 units, a year-over-year change of approximately -0.87% to +4.30%, while the market estimate is about 147,000 units, a gap of about 18% to 22%. Revenue guidance is RMB 21.7 billion to RMB 23.4 billion, a year-over-year increase of about 6.5% to 14.8%, also significantly lower than the market estimate of RMB 27.26 billion. The company stated that the above outlook is based on current market conditions, reflecting preliminary estimates of market and operating conditions and customer demand, and related factors may change. ## Robotics Financing of USD 900 Million In terms of robotics business, XPeng announced on the same day as the earnings release that its subsidiary, Dogotix Inc., had signed a share purchase agreement with multiple parties, with subscribers conditionally agreeing to subscribe for newly issued shares of Dogotix for a total price of USD 900 million. He Xiaopeng stated that the development of the mass-production version of the company's humanoid robots has recently achieved several important milestones. In terms of products, XPeng held the global launch of the MONA L03 in Munich, Germany, on July 16, bringing this next-generation AI SUV coupe to the international market. Deliveries in July alone amounted to 38,027 units, bringing the cumulative deliveries year-to-date to 204,004 units. As of June 30, 2026, the company's cash holdings were RMB 40.48 billion, slightly down from RMB 42.09 billion at the end of the previous quarter, while short-term borrowings increased from RMB 4.28 billion to RMB 10.07 billion during the same period. ### Related Stocks - [XPEV.US](https://longbridge.com/en/quote/XPEV.US.md) - [09868.HK](https://longbridge.com/en/quote/09868.HK.md) ## Related News & Research - [Wall Street sees Xpeng robot financing as catalyst for value unlock](https://longbridge.com/en/news/296857704.md) - [XPeng Stock (XPEV) – XPeng's Robotics Unit Dogotix Valued at $6.3B After Record Fund Raise](https://longbridge.com/en/news/296785720.md) - [Xpeng to launch G9L in September, Mona L05 in Q4 as it targets 60,000 monthly sales](https://longbridge.com/en/news/296825294.md) - [Xpeng hits 6,000-delivery milestone in France as overseas sales set record](https://longbridge.com/en/news/296180612.md) - [XPENG (XPEV) to Release Earnings on Monday](https://longbridge.com/en/news/296059070.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**