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XPeng, Inc. Class A (HK:9868)
:9868
Hong Kong Market

XPeng, Inc. Class A (9868) AI Stock Analysis

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HK

XPeng, Inc. Class A

(9868)

Rating:53Neutral
Price Target:
HK$78.00
▲(2.03%Upside)
XPeng's overall score is driven by strong earnings call guidance and robust revenue growth, offset by significant challenges in profitability and cash flow management. Technical indicators and valuation suggest caution as the company works towards achieving profitability.
Positive Factors
AI Technology
XPeng Inc., a Chinese EV maker with deep capability in vehicle AI technology, will intensify its AI applications on future new models, including commercialization of its Turing chip, 5 C fast charging, and constant upgrade of its XNGP platform to provide enhanced AD driving and safety to car owners.
International Expansion
The company is now replicating its success overseas, by expanding into these markets with its advanced smart car models.
Revenue Growth
Revenue jumped 142% y/y to Rmb15.8bn, driven by record deliveries of 94k units (+331% y/y).
Negative Factors
Economic Conditions
Weak economic growth could lower demand for XPeng electric vehicles.
Sales Performance
Weaker-than-expected sales of new models and continued margin pressure could delay business breakeven.
User Experience
Lacklustre user experience for its vision-based solutions and weak economic growth could lower demand for XPeng EVs.

XPeng, Inc. Class A (9868) vs. iShares MSCI Hong Kong ETF (EWH)

XPeng, Inc. Class A Business Overview & Revenue Model

Company DescriptionXPeng Inc. is a leading Chinese electric vehicle manufacturer headquartered in Guangzhou, China. Operating in the automotive sector, the company specializes in designing, developing, and manufacturing smart electric vehicles. XPeng aims to redefine the driving experience through its innovative and high-performance vehicles, which integrate cutting-edge technology such as autonomous driving software, in-car smart operating systems, and intelligent connectivity features.
How the Company Makes MoneyXPeng Inc. generates revenue primarily through the sale of its electric vehicles. The company's key revenue streams include direct vehicle sales to consumers, which encompass various models designed for different market segments. Additionally, XPeng earns income from after-sales services, including vehicle maintenance and repairs. The company also collaborates with strategic partners to enhance its technological offerings, contributing to its revenue through licensing or joint ventures. Government subsidies for electric vehicle production and sales also play a significant role in XPeng's earnings, alongside the potential monetization of software services such as autonomous driving features and in-car applications.

XPeng, Inc. Class A Earnings Call Summary

Earnings Call Date:May 21, 2025
(Q1-2025)
|
% Change Since: -1.42%|
Next Earnings Date:Aug 26, 2025
Earnings Call Sentiment Positive
XPeng reported strong growth in deliveries and improved margins, driven by successful model launches and international expansion. While there were some revenue declines quarter-over-quarter and challenges with tariffs in the EU, the company maintains a positive outlook with continued advancements in AI and technology. XPeng anticipates further growth and profitability by the end of 2025.
Q1-2025 Updates
Positive Updates
Record Quarterly Deliveries
XPeng's Q1 2025 deliveries totaled 94,008 units, marking a 331% year-over-year increase and establishing a new historical record for quarterly deliveries.
Improved Gross Margin
The company achieved a record high overall gross margin of 15.6% in Q1 2025, with vehicle margin improving for seven consecutive quarters.
Successful Model Launches
The Mona M03 surpassed 100,000 deliveries, and the P7+ reached its 50,000th unit production just five months after launch. The G6 and G9 models delivered over 7,500 units in April.
Strong Overseas Growth
Overseas deliveries in Q1 2025 increased by more than 31,700 units year-over-year, with over 40 new stores opened abroad.
AI and Technology Advancements
Significant progress in AI capabilities, including Turing AI-assisted driving and the development of the Turing chip with three to seven times the effective compute power of mainstream automotive chips.
Positive Financial Outlook
Revenue is expected to grow 115.7% to 130.5% year-over-year in Q2, with anticipated profitability in Q4 2025.
Negative Updates
Quarter-over-Quarter Revenue Decline
Total revenues for Q1 2025 decreased by 1.8% quarter-over-quarter, with vehicle sales revenue decreasing by 2.1% quarter-over-quarter.
Inventory Provision and Purchase Commitment Losses
The vehicle margin was affected by inventory provision and losses on purchase commitments related to the upgrade of certain vehicle models.
Challenges in International Tariff
Increased tariffs in the EU affecting profitability, with XPeng focusing on reducing impact through partnerships and local investments.
Company Guidance
During XPeng's first quarter 2025 earnings call, the company provided robust guidance, showcasing significant growth metrics and future expectations. The company reported a record-breaking 94,008 vehicle deliveries, marking a 331% year-over-year increase, and achieving a gross margin of 15.6%, up from 14.4% in the previous quarter. XPeng's free cash flow exceeded RMB3 billion, and the company projected second-quarter deliveries between 102,000 and 108,000 units, which would represent a 237.7% to 257.5% year-over-year increase. Revenue for Q2 is expected to be between RMB17.5 billion to RMB18.7 billion, reflecting a 115.7% to 130.5% year-over-year growth. The company aims to achieve profitability in Q4 and anticipates generating substantial free cash flow for the year. XPeng's strategy includes a strong focus on AI-driven technology and product development, setting the stage for sustainable long-term growth.

XPeng, Inc. Class A Financial Statement Overview

Summary
XPeng, Inc. shows robust revenue growth but faces significant profitability challenges. Operational losses and cash flow issues highlight the need for improved cost management. Despite a solid equity base, the high debt-to-equity ratio and negative return on equity emphasize financial inefficiencies.
Income Statement
45
Neutral
The company shows significant revenue growth, with a 33.20% increase from 2023 to 2024. However, profitability remains a challenge as evidenced by negative EBIT and net income margins. The gross profit margin improved to 14.31% in 2024, but the net profit margin is still negative at -14.17%, indicating ongoing operational challenges.
Balance Sheet
55
Neutral
The company maintains a solid equity base with an equity ratio of 37.80% in 2024, but the high debt-to-equity ratio of 0.47 highlights leverage concerns. Despite these, the return on equity remains negative due to losses, pointing towards inefficiencies in generating shareholder returns.
Cash Flow
40
Negative
The cash flow statements indicate zero operating and free cash flow in 2024, suggesting cash flow management issues. The lack of operating cash flow to support net income reflects challenges in converting revenue into cash, impacting liquidity and financial flexibility.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue37.81B40.87B30.68B26.86B20.99B5.84B
Gross Profit4.33B5.85B451.15M3.09B2.62B265.99M
EBITDA-5.94B-4.97B-8.02B-7.58B-5.45B-2.27B
Net Income-5.81B-5.79B-10.38B-9.14B-4.86B-2.73B
Balance Sheet
Total Assets76.43B82.71B84.16B71.49B65.65B44.71B
Cash, Cash Equivalents and Short-Term Investments27.07B32.72B31.67B30.79B39.72B33.01B
Total Debt15.42B15.94B15.39B11.07B3.24B2.29B
Total Liabilities44.41B51.43B47.83B34.58B23.50B10.28B
Stockholders Equity32.03B31.27B36.33B36.91B42.15B34.43B
Cash Flow
Free Cash Flow0.00-4.44B-1.36B-12.91B-5.41B-1.50B
Operating Cash Flow0.00-2.01B956.16M-8.23B-1.09B-139.77M
Investing Cash Flow0.00-1.26B631.17M4.85B-33.08B-4.41B
Financing Cash Flow0.00669.32M8.02B6.00B14.63B34.33B

XPeng, Inc. Class A Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price76.45
Price Trends
50DMA
76.88
Negative
100DMA
77.03
Negative
200DMA
61.76
Positive
Market Momentum
MACD
-0.85
Positive
RSI
46.27
Neutral
STOCH
70.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9868, the sentiment is Neutral. The current price of 76.45 is above the 20-day moving average (MA) of 75.96, below the 50-day MA of 76.88, and above the 200-day MA of 61.76, indicating a neutral trend. The MACD of -0.85 indicates Positive momentum. The RSI at 46.27 is Neutral, neither overbought nor oversold. The STOCH value of 70.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9868.

XPeng, Inc. Class A Risk Analysis

XPeng, Inc. Class A disclosed 115 risk factors in its most recent earnings report. XPeng, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

XPeng, Inc. Class A Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
€223.93B27.1712.25%9.84%-30.05%
73
Outperform
$169.41B7.6524.35%15.42%
71
Outperform
$1.01T23.4923.91%1.11%33.89%45.52%
70
Neutral
$176.74B8.5214.58%2.64%5.32%10.61%
62
Neutral
$16.34B10.69-6.34%3.17%1.66%-24.46%
53
Neutral
HK$145.55B-15.50%49.80%50.02%
41
Neutral
HK$57.22B-239.29%16.59%13.32%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:9868
XPeng, Inc. Class A
74.15
44.60
150.93%
HK:9866
NIO Inc. Class A
27.15
-6.90
-20.26%
HK:1211
BYD Co
125.70
49.21
64.34%
HK:2015
Li Auto, Inc. Class A
112.60
42.30
60.17%
HK:2333
Great Wall Motor Co
12.20
0.16
1.33%
HK:0175
Geely Automobile Holdings
15.98
7.36
85.30%

XPeng, Inc. Class A Corporate Events

XPeng Inc. Reports Record EV Deliveries and Launches Innovative MONA M03 Max
Jun 2, 2025

XPeng Inc. reported a significant increase in vehicle deliveries for May 2025, with 33,525 Smart EVs delivered, marking a 230% year-over-year growth. The launch of the MONA M03 Max, featuring advanced AI technology and human-machine co-driving capabilities, highlights XPeng’s commitment to innovation and accessibility in the EV market, potentially strengthening its position and appeal among younger users.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Strengthens Governance with New Nomination Committee
May 21, 2025

XPeng Inc. has established a Nomination Committee to assist its Board of Directors in identifying qualified candidates for director positions and conducting annual reviews of the Board’s independence and qualifications. This move is part of XPeng’s efforts to strengthen its governance structure following its listing on the Hong Kong Stock Exchange, potentially enhancing its industry positioning and stakeholder confidence.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Reports Strong Q1 2025 Financial Results with Significant Revenue and Delivery Growth
May 21, 2025

XPeng Inc. reported a strong financial performance for the first quarter of 2025, with total revenues reaching RMB15.81 billion, marking a 141.5% increase year-over-year. The company also saw a significant rise in vehicle deliveries, totaling 94,008 units, a 330.8% increase from the previous year. Despite a net loss of RMB0.66 billion, XPeng’s gross and vehicle margins improved, indicating enhanced operational efficiency. The company’s extensive network of 690 stores and 2,115 charging stations underscores its robust market presence and strategic focus on expanding its infrastructure to support growth.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Announces AGM and New Share Incentive Scheme
May 12, 2025

XPeng Inc. has announced its upcoming Annual General Meeting (AGM) scheduled for June 27, 2025, where shareholders will consider several key resolutions. These include the adoption of the company’s 2024 financial statements, re-election of directors, and approval of a new 2025 Share Incentive Scheme aimed at enhancing shareholder value and aligning employee interests with company performance. The resolutions reflect XPeng’s strategic focus on strengthening its governance and incentivizing performance, which could positively impact its market position and stakeholder confidence.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.0000 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Schedules Board Meeting to Review Q1 2025 Results
May 6, 2025

XPeng Inc. has announced a board meeting scheduled for May 21, 2025, to review and approve the company’s first-quarter financial results for the period ending March 31, 2025. The announcement includes details of an earnings conference call that will be held on the same day, providing stakeholders with insights into the company’s financial performance and strategic direction. This meeting and subsequent call are significant as they offer a glimpse into XPeng’s operational progress and market positioning in the competitive electric vehicle sector.

XPeng Inc. Achieves Record EV Deliveries and Launches New Insurance Service
May 2, 2025

XPeng Inc. reported a significant increase in vehicle deliveries for April 2025, with 35,045 Smart EVs delivered, marking a 273% year-over-year growth. The company also launched its ADAS Insurance Service in China, enhancing its offerings with additional coverage for its autonomous driving features.

XPeng Inc. Sets Record Date for 2025 Annual General Meeting
Apr 24, 2025

XPeng Inc. has announced the record date for its upcoming annual general meeting (AGM), set for May 15, 2025. Shareholders holding Class A and Class B ordinary shares as of this date will be eligible to attend and vote at the AGM. This announcement is significant for stakeholders as it outlines the procedural requirements for participation in the AGM, which is crucial for shareholder engagement and corporate governance.

XPeng Grants Over 2 Million RSUs to Employees
Apr 11, 2025

XPeng, Inc. Class A has announced the grant of 2,093,884 Restricted Share Units (RSUs) to 60 employees under its 2019 Equity Incentive Plan. This move, which does not require shareholder approval, is part of the company’s strategy to incentivize its workforce, with the RSUs vesting over a four-year period. The Hong Kong Stock Exchange has approved the listing of the new shares, and the grants are not subject to performance targets, but include clawback mechanisms in cases of termination for cause.

XPeng Inc. Achieves Record EV Deliveries and Expands Global Presence
Apr 1, 2025

XPeng Inc. reported significant growth in vehicle deliveries for March and the first quarter of 2025, with a 268% year-over-year increase in March and a 331% increase for the quarter. The company also launched new versions of its G6 and G9 models, equipped with advanced AI-driven features, and expanded its market presence by entering Indonesia. These developments highlight XPeng’s strong market performance and strategic expansion efforts, positioning it as a competitive player in the global EV market.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 25, 2025