XPeng, Inc. Class A (HK:9868) has released an update.
XPeng Inc., a frontrunner in China’s Smart EV market, has reported a robust financial performance for Q2 2024, with a significant 60.2% year-over-year increase in quarterly revenues, totaling RMB 8.11 billion. The company has successfully improved its gross margin to 14.0% from a negative margin in the previous year, indicating a positive trend in profitability. Despite these gains, XPeng still posted a net loss, although narrowed to RMB 1.28 billion compared to the larger loss in the same period of 2023.
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