Xiaopeng Automobile W (09868. HK) announced its third quarter results after hours yesterday, with revenue exceeding 8.5 billion yuan, a 68.5% increase month on month.
According to the announcement of Xiaopeng Automobile, the revenue in the third quarter was 8.53 billion yuan, an increase of 68.5% month on month; Non GAAP net loss of 2.79 billion yuan, adjusted for a loss of 1.61 yuan per share.
From the above figure, Xiaopeng Automobile's automobile sales revenue was 7.84 billion yuan (approximately 1.08 billion US dollars), an increase of 25.7% compared to the same period in 2022 and 77.3% compared to the second quarter of 2023. The gross profit margin for the same period was negative 2.7%, compared to 13.5% in the same period of 2022 and negative 3.9% in the second quarter of 2023.
From the above data, Xiaopeng Automobile has shown varying degrees of growth in its main financial indicators and delivery volume. However, this performance did not drive Xiaopeng Automobile's stock price up again.
As of press release, Xiaopeng Motors fell 4.42% to close at HKD 64.8.
In addition, Xiaopeng Automobile expects its revenue to reach RMB 12.7 billion to RMB 13.6 billion in the fourth quarter, a year-on-year increase of 86.1% -99.3%; The delivery volume will reach 59500 to 63500 vehicles, a year-on-year increase of 101.2% -114.7%.
Some institutions claim that Xiaopeng's performance is gradually improving
For the performance of Xiaopeng Automobile, Huatai Securities released a research report stating that sales have steadily increased, and the gross profit margin is expected to improve in Q4, maintaining the "buy" rating of the H-share.
Huatai Securities also pointed out that Xiaopeng Automobile integrates its direct distribution system, unifies its upper management structure, and improves efficiency through flat management; Optimizing the supply chain system is expected to further enhance the company's delivery and sales. The securities firm believes that the ramp up of G6/new G9 production capacity, coupled with the collaboration between the Fuyao architecture X9 and the public, is expected to bring about a sustained increase in sales.