XPeng's US stock pre-market rose over 4.5%! Q4 revenue increased by 23.4% year-on-year, gross margin significantly improved to 14.4%, and AI strategy accelerated its layout | Financial Report Insights
XPeng expects its vehicle deliveries in the first quarter of 2025 to be between 91,000 and 93,000 units, an increase of approximately 317.0% to 326.2% year-on-year; total revenue is expected to be between RMB 15 billion and RMB 15.7 billion, an increase of approximately 129.1% to 139.8% year-on-year
On March 18, Tuesday, XPeng released its fourth-quarter financial report, which showed that:
- Q4 2024: Total revenue of RMB 16.11 billion (USD 2.21 billion), a year-on-year increase of 23.4% and a quarter-on-quarter increase of 59.4%; gross margin of 14.4%, significantly up from 6.2% in the same period of 2023. Among them, automotive sales revenue was RMB 14.67 billion (USD 2.01 billion), a year-on-year increase of 20.0% and a quarter-on-quarter increase of 66.8%. The automotive gross margin also increased to 10.0%, a significant rise from 4.1% in the same period of 2023.
- Full Year 2024: Total revenue of RMB 40.87 billion, a year-on-year increase of 33.2%; gross margin of 14.3%; net loss of RMB 5.79 billion (USD 790 million).
- Delivery Volume: In Q4 2024, the number of vehicles delivered was 91,507, a year-on-year increase of 52.1%; total vehicle deliveries for the full year 2024 were 190,068, a year-on-year increase of 34.2%. Delivery volumes for January and February 2025: January deliveries were 30,350 vehicles, February deliveries were 30,453 vehicles, totaling 60,803 vehicles for the year to date.
- Sales Network: As of December 31, 2024, there were a total of 690 stores covering 226 cities. Charging network: 1,920 self-operated charging stations, including 928 super-fast charging stations.
- Cash Reserves: As of December 31, 2024, cash and cash equivalents, restricted cash, short-term investments, and time deposits totaled RMB 41.96 billion (USD 5.75 billion).
AI Strategy Accelerates Layout, Optimistic Outlook for Q1 2025
It is noteworthy that XPeng's management emphasized the key role of AI in the automotive industry in the financial report. Mr. Xiaopeng He stated that the company is committed to becoming a global AI automotive company, dedicated to creating a smart technology brand favored by global users. This strategic direction indicates that XPeng will continue to increase its investment in technologies such as autonomous driving and smart cockpits to maintain its competitive advantage in the smart electric vehicle sector.
In addition, XPeng's strategic cooperation with the Volkswagen Group (China) is also actively advancing. The two parties will work together to build one of China's largest ultra-fast charging networks, which will help enhance the user experience for XPeng customers and accelerate the adoption of electric vehicles.
For the first quarter of 2025, XPeng provided an optimistic performance guidance.
It is expected that vehicle deliveries will be between 91,000 and 93,000 units, a year-on-year increase of approximately 317.0% to 326.2%.
Total revenue is expected to be between RMB 15 billion and RMB 15.7 billion, a year-on-year increase of approximately 129.1% to 139.8%