Summary by Moomoo AI
xpeng announced its unaudited financial performance for Q2 2024, showing total revenue of RMB 8.11 billion, a year-on-year growth of 60.2%, with gross margin improving to 14.0%, a significant improvement from the same period last year. The total delivery volume of automobiles was 30,207, an increase of 30.2% year-on-year. As of June 30, 2024, cash and cash equivalents amounted to RMB 37.33 billion. The company has signed a technical strategic cooperation agreement with Volkswagen Group to jointly develop electronic and electrical architecture. Additionally, xpeng has launched the OTA-updated XOS 5.2.0 to enhance user experience. Despite the increase in total revenue and gross margin, the company still recorded a net loss of RMB 1.28 billion, but it improved from RMB 2.8 billion in the same period last year. The company expects total revenue in the next quarter to be between RMB 9.1 billion and RMB 9.8 billion, with automobile deliveries ranging from 41,000 to 45,000.
