XPeng's earnings call highlighted significant achievements in delivery and revenue growth, technological advancements, and international expansion. However, challenges remain with ongoing net losses and increased R&D and SG&A expenses. The sentiment is balanced as the highlights are impressive but tempered by the financial losses and increased costs.

Company Guidance

During XPeng's Second Quarter 2025 Earnings Conference Call, the company provided guidance that highlighted significant growth in several key metrics. In Q2 2025, XPeng achieved record-high deliveries of 103,181 units, marking a 242% increase year-over-year. The company's total revenues reached RMB 18.27 billion, a 125.3% increase from the previous year, with revenues from vehicle sales increasing by 147.6% year-over-year to RMB 16.88 billion. XPeng's vehicle gross margin rose to 14.3%, a 3.8 percentage point increase from the previous quarter, contributing to an overall gross margin of 17.3%. The company reported a net loss of RMB 0.48 billion, which showed a narrowing from the previous year's loss of RMB 1.28 billion. In terms of cash flow, XPeng generated more than RMB 2 billion in free cash flow and reported total cash on hand exceeding RMB 47.5 billion. Looking ahead, XPeng expects Q3 deliveries to range between 113,000 to 118,000 units, with projected revenues between RMB 19.6 billion and RMB 21 billion, representing a year-over-year growth of 94% to 107.9%. The company anticipates continuing to lead in AI-powered vehicle technology and aims to maintain a strong growth trajectory while advancing operational efficiency towards achieving sustainable profitability.

Record Deliveries and Revenue Growth

XPeng achieved a record high performance with deliveries reaching 103,181 units, a 242% increase year-over-year. Total revenues were RMB 18.27 billion, an increase of 125.3% year-over-year.

Improved Gross Margin

Vehicle gross margin increased 3.8 percentage points quarter-over-quarter to 14.3%, marking the eighth consecutive quarter of improvement, raising the company's overall gross margin to 17.3%.

Strong Cash Position

Free cash flow in Q2 exceeded RMB 2 billion with total cash on hand surpassing RMB 47.5 billion.

Technological Advancements and New Product Launches

The G7, featuring an in-house developed Turing AI SoC, was launched and became the top among its competitors. XPeng is also rolling out innovations like the Kunpeng Super Electric Models and Turing AI SoC.

International Expansion

Overseas deliveries exceeded 18,000 units, increasing over 200% year-over-year. XPeng ranks as a best-selling Chinese NEV start-up brand in multiple international markets.

XPeng, Inc. Class A (HK:9868) Earnings, Revenues Date & History

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HK:9868 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 13, 2025	2025 (Q3)	-0.73 / -	-2.053	―	―	―
Aug 19, 2025	2025 (Q2)	-0.82 / -0.54	-1.483	63.39% (+0.94)	―	―
May 21, 2025	2025 (Q1)	-1.64 / -0.76	-1.564	51.34% (+0.80)	―	―
Mar 18, 2025	2024 (Q4)	-1.69 / -1.51	-1.641	8.23% (+0.14)	―	―
Nov 19, 2024	2024 (Q3)	-2.31 / -2.05	-4.841	57.59% (+2.79)	―	―
Aug 20, 2024	2024 (Q2)	-1.83 / -1.48	-3.492	57.53% (+2.01)	―	―
May 21, 2024	2024 (Q1)	-2.61 / -1.56	-3.014	48.11% (+1.45)	―	―
Mar 19, 2024	2023 (Q4)	- / -	-3.128	―	―	―
Mar 19, 2024	2024 (Qnull)	-3.19 / -1.64	-3.128	47.54% (+1.49)	―	―
Nov 15, 2023	2023 (Q3)	-3.65 / -4.84	-3.027	-59.93% (-1.81)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

HK:9868 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 19, 2025	HK$78.50	HK$77.05	-1.85%
May 21, 2025	HK$77.55	HK$77.55	0.00%
Mar 18, 2025	HK$93.75	HK$95.10	+1.44%
Nov 19, 2024	HK$50.20	HK$51.95	+3.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.