8 hours Ago By Aileen Chuang
The Guangzhou-based carmaker on Tuesday said its loss for the quarter narrowed to 1.33 billion yuan (US$184 million) from 1.35 billion yuan a year earlier.
Analysts polled by Bloomberg expected Xpeng to report a loss of 1.59 billion yuan. The company’s revenue rose 23.
4 per cent to 16.11 billion yuan from a year earlier. Analysts expected revenue of 16.
02 billion yuan. Xpeng said its gross margin rose to 14.4 per cent in the fourth quarter from 6.
2 per cent a year earlier, but fell from 15.3 per cent in the third quarter. The overall gross margin – a measure of efficiency in managing costs relative to revenue – remained “stable at the mid-teens level”, the firm said.
EV makers on the mainland are struggling with worries about production overcapacity amid a raging price war. These factors have forced them to figure out how to expand outside China. The carmaker said it would aim to improve profitability and cash flow with the launch of more new products and by maintaining investments in research and development.
It expects first-quarter revenue this year to be between 15 billion yuan and 15.7 billion yuan, which would translate to a year-on-year increase of 129.1 per cent to 139.
8 per cent. “We are well-positioned to significantly expand our market share in the smart EV industry both in China and globally,” said He Xiaopeng, chairman and CEO, in a stock exchange filing. “We are committed to building Xpeng into an AI-empowered global automotive company and a smart technology brand beloved by users worldwide.
”.
