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On March 20th, the domestic lithium hexafluorophosphate market continued to decline, with an average price of 111,000 yuan/ton, a cumulative drop of over 38% from the peak of 180,000 yuan/ton in December 2025. Lithium hexafluorophosphate is the core material for lithium battery electrolytes, and its price fluctuations reflect the supply and demand relationship in the lithium battery industry chain, becoming an important indicator of industry prosperity

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Amplify Lithium & Battery Tech ETF

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Global X Lithium & Battery Tech

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The price of lithium hexafluorophosphate has adjusted, and the industry has entered a stage of supply and demand rebalancing

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The NASDAQ Golden Dragon China Index initially closed down 2.8%, with a cumulative decline of about 5.5% this week. Among popular Chinese concept stocks, XPeng initially closed down 8.3%, Xiaomi fell 7.9%, Nio dropped 7.8%, Baidu decreased by 3.99%, Alibaba fell 1.9%, and WERIDE rose 2.17%

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2026 overseas delivery target to double YoY.Intl revenue to account for over 20% of total.

XPEV (4Q25 Trans): Iron robot targets >1,000 units/month by end-2026

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Q4 core auto biz: revenue up, no profit improvement.

XPEV: All Hype, No Profits — Still the 'Tesla of the East'?---

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Electric vehicle manufacturer XPeng plans to launch the G6 and G9 models in Mexico, aiming to double overseas sales and increase the contribution of international market revenue to 20%. The company is focused on expanding into overseas markets and expects that by 2030, overseas sales will account for 70% of total profits

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ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

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Global X Autonomous & Electric V

Max Auto Industry 3X Leveraged ETN

Hwabao WP CSI Intelligent Electric Vehicle ETF

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XPeng plans to double overseas sales and launch electric vehicles in Mexico

Xpeng logs first-ever net profit on strong margin growth Xpeng recorded its first-ever net profit of 380 million yuan ($50 million) in the fourth quarter of 2025. Xpeng Mar 20, 2026

CnEVPost

Xpeng Q4 2025 earnings call: Live updates

Xpeng achieved its first-ever net profit of 380 million yuan ($50 million) in Q4 2025, marking a significant financial milestone. The company's gross margin improved to 21.3%, up 6.9 percentage points from the previous year. Total revenues reached RMB22.25 billion ($3.18 billion), a 38.2% increase year-over-year. Despite an operating loss of 40 million yuan, the company narrowed its losses significantly compared to 2024. Xpeng plans to invest in technology development, including AI and new vehicle models, supported by its improved financial position.

- Xpeng reported its first-ever net profit of 380 million yuan ($50 million) in Q4 2025, significantly improving from a net loss of 1.33 billion yuan in Q4 2024.  
- The company's gross margin rose to 21.3%, aiding its financial turnaround and aligning with management's target of breaking even.  
- For Q1 2026, Xpeng anticipates vehicle deliveries between 61,000 and 66,000, indicating a substantial year-over-year decrease in deliveries and total revenues.

Xpeng logs first-ever net profit on strong margin growth

- U.S.-listed shares of Chinese EV maker XPeng fell 2.4% to $18.69 in premarket trading.  
- The company projects Q1 revenue between 12.20 billion yuan and 13.28 billion yuan, reflecting a year-over-year decrease of approximately 16.01% to 22.84%.  
- XPeng reported a net profit of 383.2 million yuan in Q4, the first positive quarterly profit, compared to a loss of 1.33 billion yuan the previous year.

Reuters

BUZZ-XPeng's US-listed shares down, EV firm expects Q1 revenue to decline

XPeng 4Q25 First Take: Overall, headline results looked strong, with revenue, GPM and profit beating expectations. Net profit turned positive for the first time since listing, in line with prior guidance. Peel back the sheen, though, and underlying performance in the core auto biz and the forward guide point to mounting pressure. The outlook reads cautious. ① High-margin services and Gov. subsidies flattered core auto weakness; revenue beat was driven by 'VW collaboration' and carbon-credit income boosting services/other: Total revenue reached RMB 22.3bn (vs. RMB 20.8bn est.). Auto sales revenue was RMB 19.1bn (+30% YoY, vs. RMB 18.4bn est.), helped by mix upgrade from higher X9 contribution lifting ASP, and a rising share of higher-ASP export models. The largest upside came from 'services and other' revenue.It jumped QoQ by RMB 0.85bn to RMB 3.2bn (well above the RMB 2.35bn est.). We estimate this reflects milestone recognition from the E/E architecture R&amp;D services with Volkswagen, plus carbon-credit gains tied to export growth. ② Core auto gross margin missed: Total GPM was 21.3% in Q4 (+120bps QoQ, vs. 20.5% est.), lifted mainly by high-margin tech services. By contrast, the core auto sales GPM was just 13%, roughly flat QoQ and below the 13.9% consensus. Despite a higher mix of the margin-richer X9, auto GPM failed to meet expectations. Rising per-unit manufacturing costs — early supply-chain/capacity ramp costs and higher battery costs — likely offset mix benefits. ③ Positive net profit lacks quality; core operations still bleeding: While net profit turned positive, it relied heavily on RMB 0.84bn of 'other gains' (mainly one-off Gov. subsidies). Ex these non-recurring items, XPeng would still have posted a net loss in Q4. On a more telling basis of core operating profit (GP minus core Opex), Q4 was RMB -0.93bn, worse than Q3's RMB -0.82bn. Despite higher GP QoQ, a sharp QoQ increase in S&amp;M, G&amp;A and R&amp;D (the three Opex lines) capped profit release. Most importantly, the 1Q26 guidance. It is the key focus. ④ Guidance under the 'one model, two powertrains' launch cycle fell short: It disappointed vs. expectations. Versus Q4's mixed print, the 1Q guide is notably weak. The tone is soft. Delivery guide is weak, failing to show a new-model surge: 1Q deliveries are guided to 61k–66k, well below the 84k the market expected. With Jan (~20k) and Feb (~15k) known, the implied Mar run-rate is only 26k–31k.Given dense 1Q launches of G6/P7+/G7/X9 range-extended 'super' trims plus annual refreshes for BEVs (the full rollout of the 'one model, two powertrains' strategy), this pace suggests the new-model effect is underwhelming vs. expectations. Revenue guide implies ASP pressure; price war bites. 1Q revenue is guided to RMB 12.2bn–13.28bn. Ex services/other, the implied ASP is roughly RMB 155k–165k per vehicle, with the top end only flat vs. Q4 and below the RMB 170k the market expected. Even with a further mix lift from the high-end X9, overall ASP still falls short, likely due to heavier promotions and discounting. $XPeng(XPEV.US) $XPENG-W(09868.HK)

XPeng (9868) recorded its first quarterly profit in the fourth quarter of 2023, with a net income of 380 million yuan, and the adjusted net loss for the year narrowed by 80.3%. It is expected that the delivery volume in the first quarter of 2024 will decrease by about 30%, with revenue expected to decline by 16% to 2.28 billion yuan. Total revenue for the year reached 76.72 billion yuan, a year-on-year increase of 87.7%. The gross profit margin hit a record high, and R&D expenses increased by 47%. Chairman He Xiaopeng stated that the company is at a historic turning point in AI applications and will expand its market share

- Xpeng Motors (9868) reported an adjusted net profit of 510 million RMB in Q4 last year, reversing from a loss of 1.39 billion RMB year-over-year and achieving quarterly profitability for the first time.  
- For Q1 this year, the company anticipates a revenue drop of over 16% with vehicle deliveries projected between 61,000 to 66,000 units, a decrease of approximately 29.8% to 35.1%.  
- Overall revenue for 2023 reached 76.72 billion RMB, an increase of 87.7%, with the adjusted net loss significantly narrowed by 80.3% to 1.14 billion RMB, aligning with market expectations.

Stheadline

XPeng recorded a quarterly net profit of 380 million in the fourth quarter, with the annual adjusted loss narrowing by 80%. It is expected that the delivery volume in the first quarter of this year will decrease by 30%

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- Chinese electric vehicle maker Xpeng will launch EVs for the Latin American market at an event in Mexico on March 25.  
- This overseas expansion follows Xpeng's first-ever quarterly profit in the fourth quarter, surpassing estimates.  
- The company now joins rivals Nio, Li Auto, and Leapmotor as part of China's "new forces" of automakers that have achieved break-even status.

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China's Xpeng to launch EVs for Latin American market

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Financial Analysis

i think gold and silver will rebound and uptrend towards previous high again once war ends.

Morning ☕️ Middle East tension = oil/gold rollercoaster. Alibaba aiming for $100B AI revenue. Xiaomi's new EV + mega AI model. What's your play today? 👇

BABA-WR

XIAOMI-WR

Lumentum

SPDR Gold Shares

iShares Silver Tr

Pro Ultr Silver

GLD SG

CNMC Goldmine

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ZIJIN MINING

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Sandisk

DELTON

YOFC

FIT HON TENG

TIME INTERCON

Xiaomi HK SDR 2to1

☕️ Daily Market Talk | March 20, 2026

Alibaba HK SDR 5to1

It's good to finally see some food news for alibaba, it has been in the down trend for months. The company is also laying off roughly 30% of its workforce. Hopefully the trend will reverse!

The optical Comms and memory sector appears to be the market darling now after Anthropic sparked the Saaspocalypse which swept through multiple sectors, it seems that the above 2 belong to the physical layer and would not be susceptible to another narrative of AI killing [you name it].

Wonder how many analysts will now revise away their 6000/oz projection fir gold for year end? The risks of global recession are growing bigger with each day Iran bombs its neighborhood oil facilities. The drag is making poor every one, not to mention the ecological damage. Silver and other metals are suffering. Only the factories are rejoicing.

Filter out the noise and look at what matters most in the market - Price. That is the most important and accurate market indicator out there!

Today’s Key News Recap

0319 | Dolphin Research Watchlist: 🐬 Macro/Industry 1) On Mar 18 (ET), the Fed kept the benchmark rate unchanged at 3.50%-3.75%. The latest dot plot now points to just one cut in 2026 (25bps), a sharp pullback from the prior 2–3 cuts.Powell struck a hawkish tone at the presser, saying the oil spike driven by Middle East tensions is feeding into core inflation. He also confirmed that if a successor is not confirmed by Congress in time, he would stay on as 'acting chair'...

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Tencent HK SDR 10to1

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NONGFU SPRING

Coinbase

Xiaomi MiMo model scores a hat-trick; COIN targets AI payments with stablecoins | Daily News Recap

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Trump will TACO, he is clearly panicking right now with his truth social post over the weekend. He cannot possible lose the mid term elections if he drag the war. HE KNOWS IT!

☕️ This week: GTC kicks off, US-China trade talks, Japan oil release, quad witching. Earnings: Tencent, Micron, Alibaba, Xpeng. 3 big questions inside 👇

UB#XPENGRP2812C(63464.HK)

The price of lithium hexafluorophosphate has adjusted, and the industry has entered a stage of supply and demand rebalancing

The NASDAQ Golden Dragon China Index initially closed down 2.8%, with a cumulative decline of about 5.5% this week. Among popular Chinese concept stocks, XPeng initially closed down 8.3%, Xiaomi fell 7.9%, Nio dropped 7.8%, Baidu decreased by 3.99%, Alibaba fell 1.9%, and WERIDE rose 2.17%

XPEV (4Q25 Trans): Iron robot targets >1,000 units/month by end-2026 ---

XPEV: All Hype, No Profits — Still the 'Tesla of the East'?---

XPeng plans to double overseas sales and launch electric vehicles in Mexico