On May 22nd, the Hong Kong stock of Xiaopeng Motors opened with a rise of over 9%, and as of press release, the increase exceeded 11%. Overnight, the US stock market of Xiaopeng Motors initially rose more than 20%, and as of the close, it rose 5.92%.
On May 21st, Xiaopeng Motors released its first quarter financial report for 2024. In the current quarter, Xiaopeng Automobile's total revenue was 6.55 billion yuan, estimated to be 6.11 billion yuan, compared to 4.03 billion yuan in the same period last year, a year-on-year increase of 62.3% and a month on month decrease of 49.8%; The gross profit margin was 12.9%, an increase of 11.2 percentage points year-on-year and 6.7 percentage points month on month; The total delivery volume was 21821 vehicles, a year-on-year increase of 19.7%, but a month on month decrease of 63.7%.
In the first quarter, Xiaopeng Automobile recorded a net loss of 1.37 billion yuan, a decrease of 970 million yuan year-on-year, but an increase of about 20 million yuan year-on-year. As of March 31, 2024, cash and cash equivalents, restricted cash, short-term investments, and term deposits amounted to RMB 41.4 billion, an increase of RMB 7.28 billion year-on-year and a decrease of RMB 4.3 billion month on month.
In addition, Xiaopeng Automobile is expected to deliver 29000 to 32000 vehicles in the second quarter of 2024, a year-on-year increase of 25% to 37.9%; It is expected that the total revenue in the second quarter will be between 7.5 billion yuan and 8.3 billion yuan, with a year-on-year increase of 48.1% to 63.9%.