Xiaopeng Automobile Q3 revenue of 8.53 billion yuan in 2023 increased by 25% compared with the same period last year, but the loss expanded by 481.1%.

Thank you, Mr. Air, CTOnews.com netizens, for the delivery of clues about the past in the West window! According to CTOnews.com news on November 15, Xiaopeng announced its third-quarter results on November 15. the total revenue for the third quarter was 8.53 billion yuan, and the market expected 9.137 billion yuan, compared with 6.82 billion yuan in the same period last year, an increase of 25 percent over the same period last year, an increase of 68.5 percent compared with the same period last year. Quarterly gross profit margin was-2.7 percent, an increase of 1.2 percentage points.

Xiaopeng's common shareholders accounted for a comprehensive loss of 4.01 billion yuan in the third quarter, an increase of 481.1% over the same period last year and 107.9% month-on-month. CTOnews.com attached performance table:

After the release of the results, Xiaopeng's US stock fell 0.71% before trading, after rising more than 3% at one point.

Xiaopeng delivered 40008 vehicles in the third quarter of 2023, up 72.4 percent from 23205 in the second quarter of 2023.

He Xiaopeng, chairman and CEO of Xiaopeng Automobile, said: "Xiaopeng Automobile took the lead in realizing the inflection point of intelligent assisted driving in technology and user demand in 2023. I believe that five years from now will be five years of intelligent assisted driving on a large scale. Xiaopeng Automobile will lead the coverage of intelligent driving assistance in the country, and become the preferred brand for intelligent users. Since the third quarter of this year, we have entered a preliminary positive cycle. I believe that the effect of a series of changes starting this year will be more obvious in 2024 and beyond, and will enter a positive cycle of rapid development by the fourth quarter of next year. "

"our delivery volume has increased for nine consecutive months on a month-on-month basis, and our free cash flow has improved significantly." Dr. Gu Hongdi, Honorary Vice Chairman and Co-President of Xiaopeng Motor, said. "We expect that as the cost reduction of new products and technologies drives our gross profit margin to improve significantly, free cash flow will improve more significantly in the fourth quarter, which is the starting point for us to move towards long-term scale profits."

Xiaopeng raised its Q4 performance guidelines: expected delivery of 595-63500 units, an increase of about 101.2% to 114.7% year-on-year, and expected total revenue of 127-13.6 billion yuan, an increase of about 86.1% to 99.3% over the same period last year.