小鹏汽车二季度财报收入和亏损弱于预期，毛利率与三季度环比指引提供支撑

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Cash position
[i]
was
RMB40.48 billion
(
US$5.97 billion
) as of
June 30, 2026
Quarterly total revenues were
RMB19.74 billion
, a 51.5% increase quarter-over-quarter
Quarterly gross margin was 20.7%, an increase of 3.4 percentage points over the same period of 2025
Quarterly vehicle margin was 12.1%, remained relatively stable quarter-over-quarter
GUANGZHOU, China
,
Aug. 24, 2026
/PRNewswire/ --
XPeng Inc.
("
XPENG
" or the "
Company
," NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced its unaudited financial results for the three months ended
June 30, 2026
.
Operationa
l
an
d
Financia
l
Highlight
s
fo
r
th
e
Thre
e
Month
s
Ende
d
June
30
,
202
6
2026Q2
2026Q1
2025Q4
2025Q3
2025Q2
2025Q1
Total deliveries
103,295
62,682
116,249
116,007
103,181
94,008
Total deliveries of vehicles
were 103,295 for the second quarter of 2026, representing an increase of 0.1% from 103,181 in the corresponding period of 2025.
XPENG's
physical sales network
had a total of 740 stores, covering 257 cities as of
June 30, 2026
.
XPENG
self-operated charging station network
reached 3,780 stations, including 2,720
XPENG
ultra-fast charging stations as of
June 30, 2026
.
Total revenues
were
RMB19.74 billion
(
US$2.91 billion
) for the second quarter of 2026, representing an increase of 8.0% from the same period of 2025, and an increase of 51.5% from the first quarter of 2026.
Revenues from vehicle sales
were
RMB17.05 billion
(
US$2.51 billion
) for the second quarter of 2026, representing an increase of 1.0% from the same period of 2025, and an increase of 55.0% from the first quarter of 2026.
Gross margin
was 20.7% for the second quarter of 2026, compared with 17.3% for the same period of 2025 and 20.6% for the first quarter of 2026.
Vehicle margin
, which is gross profit of vehicle sales as a percentage of vehicle sales revenue, was 12.1% for the second quarter of 2026, compared with 14.3% for the same period of 2025 and 12.1% for the first quarter of 2026.
Net loss
was
RMB1.34 billion
(
US$0.20 billion
) for the second quarter of 2026, compared with a loss of
RMB0.48 billion
for the same period of 2025 and a loss of
RMB1.78 billion
for the first quarter of 2026. Excluding share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration,
non-GAAP net loss
was
RMB1.24 billion
(
US$0.18 billion
) for the second quarter of 2026, compared with a loss of
RMB0.39 billion
for the same period of 2025 and a loss of
RMB1.69 billion
for the first quarter of 2026.
Net loss attributable to ordinary shareholders of
XPENG
was
RMB1.34 billion
(
US$0.20 billion
) for the second quarter of 2026, compared with a loss of
RMB0.48 billion
for the same period of 2025 and a loss of
RMB1.78 billion
for the first quarter of 2026. Excluding share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration,
non-GAAP net loss attributable to ordinary shareholders of
XPENG
was
RMB1.24 billion
(
US$0.18 billion
) for the second quarter of 2026, compared with a loss of
RMB0.39 billion
for the same period of 2025 and a loss of
RMB1.69 billion
for the first quarter of 2026.
Basic and diluted net loss per American depositary share (ADS)
were both
RMB1.40
(
US$0.21
) and
basic and diluted net loss per ordinary share
were both
RMB0.70
(
US$0.10
) for the second quarter of 2026. Each ADS represents two Class A ordinary shares.
Non-GAAP basic and diluted net loss per ADS
were both
RMB1.29
(
US$0.19
), and
non-GAAP basic and diluted net loss per ordinary share
were both
RMB0.65
(
US$0.10
) for the second quarter of 2026.
Cash position
was
RMB40.48 billion
(
US$5.97 billion
) as of
June 30, 2026
, compared with
RMB42.09 billion
as of
March 31, 2026
.
[i]
Cash position includes cash and cash equivalents, restricted cash, short-term investments and time deposits. Time deposits include restricted short-term deposits, short-term deposits, current portion and non-current portion of restricted long-term deposits, current portion and non-current portion of long-term deposits.
Key
Financial
Results
(in RMB billions, except for percentages)
For the Three Months Ended
% Change
[
ii]
June 30
,
March 31
,
June 30
,
2026
2026
2025
YoY
QoQ
Vehicle sales
17.05
11.00
16.88
1.0 %
55.0 %
Vehicle margin
12.1 %
12.1 %
14.3 %
-2.2 pts
0.0 pts
Total revenues
19.74
13.03
18.27
8.0 %
51.5 %
Gross profit
4.08
2.68
3.17
28.9 %
52.2 %
Gross margin
20.7 %
20.6 %
17.3 %
3.4 pts
0.1 pts
Net loss
1.34
1.78
0.48
179.9 %
-25.1 %
Non-GAAP net loss
1.24
1.69
0.39
221.1 %
-26.6 %
Net loss attributable to ordinary
shareholders
1.34
1.78
0.48
179.9 %
-25.1 %
Non-GAAP net loss attributable
to ordinary shareholders
1.24
1.69
0.39
221.1 %
-26.6 %
Comprehensive loss attributable
to ordinary shareholders
1.60
2.06
0.49
223.4 %
-22.4 %
[ii]
Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented.
Management Commentary
"The back-to-back success of the GX and MONA L03 gives us greater confidence in our upcoming new models, as we translate our leading edge in smart technologies and design into more blockbuster products and stronger brand momentum," said Mr.
Xiaopeng He
, Chairman and CEO of
XPENG
. "The development of the mass-production version of
XPENG's
humanoid robot has recently reached several significant milestones. I believe
XPENG
will not only build one of
China's
most valuable humanoid robotics companies, but also become a global leader in physical AI, spearheading the large-scale adoption and commercialization of advanced general-purpose humanoid robots and autonomous driving technologies in
China
and overseas."
"During the second quarter of 2026, our operations remained resilient despite industry-wide cost pressures. Driven by breakthroughs in our premiumization and globalization efforts, our gross margin continued to exceed 20%," added Dr.
Hongdi Brian Gu
, Vice Chairman and Co-President of
XPENG
. "I expect the mass production and commercialization of physical AI technologies to accelerate over the coming year, generating meaningful gross profit growth to support our continued R&D investment in physical AI."
Recent Developments
Deliveries
in
July
2026
Total deliveries were 38,027 vehicles in
July 2026
.
As of
July 31, 2026
, year-to-date total deliveries were 204,004 vehicles.
Launch of MONA L03
On
July 16, 2026
, XPENG held the global launch event of MONA L03, the Next-Gen AI SUV Coupe, in
Munich, Germany
.
Entering into the Dogotix Share Purchase Agreement
On
August 24, 2026
, Dogotix Inc. (a subsidiary of the Company) entered into a share purchase agreement (the "Dogotix Share Purchase Agreement") with, among others, certain subscribers, pursuant to which such subscribers conditionally agreed to subscribe for certain shares to be newly issued by
Dogotix Inc.
at an aggregate purchase price of
US$900 million
. For details, please refer to the announcement of the Company dated
August 24, 2026
, in relation to, among others, the Dogotix Share Purchase Agreement.
Unaudited Financial Results for the Three Months Ended
June 30, 2026
Total revenues
were
RMB19.74 billion
(
US$2.91 billion
) for the second quarter of 2026, representing an increase of 8.0% from
RMB18.27 billion
for the same period of 2025 and an increase of 51.5% from
RMB13.03 billion
for the first quarter of 2026.
Revenues from vehicle sales
were
RMB17.05 billion
(
US$2.51 billion
) for the second quarter of 2026, representing an increase of 1.0% from
RMB16.88 billion
for the same period of 2025, and an increase of 55.0% from
RMB11.00 billion
for the first quarter of 2026. The quarter-over-quarter increase was mainly attributable to higher vehicle deliveries.
Revenues from services and others
were
RMB2.70 billion
(
US$0.40 billion
) for the second quarter of 2026, representing an increase of 93.9% from
RMB1.39 billion
for the same period of 2025 and an increase of 32.6% from
RMB2.03 billion
for the first quarter of 2026. The year-over-year and quarter-over-quarter increases were primarily attributable to increased revenues from (i) technical research and development services ("
technical R&D services
") rendered to a car manufacturer (the "
Manufacturer
") with the successful achievement of certain key milestones in the current period, under the agreement entered into with the Manufacturer; and (ii) parts and accessories sales.
Cost of sales
was
RMB15.66 billion
(
US$2.31 billion
) for the second quarter of 2026, representing an increase of 3.7% from
RMB15.11 billion
for the same period of 2025 and an increase of 51.3% from
RMB10.35 billion
for the first quarter of 2026. The quarter-over-quarter increase was mainly in line with vehicle deliveries as described above.
Gross margin
was 20.7% for the second quarter of 2026, compared with 17.3% for the same period of 2025 and 20.6% for the first quarter of 2026.
Vehicle margin
was 12.1% for the second quarter of 2026, compared with 14.3% for the same period of 2025 and 12.1% for the first quarter of 2026. The year-over-year decrease was due to product generation transition.
Services and others margin
was 75.1% for the second quarter of 2026, compared with 53.6% for the same period of 2025 and 66.5% for the first quarter of 2026. The year-over-year and quarter-over-quarter increases were attributable to the aforementioned revenue from technical R&D services and parts and accessories sales.
Research and development expenses
were
RMB2.91 billion
(
US$0.43 billion
) for the second quarter of 2026, representing an increase of 32.1% from
RMB2.21 billion
for the same period of 2025 and an increase of 0.3% from
RMB2.91 billion
for the first quarter of 2026. The year-over-year increase was mainly due to higher expenses related to the development of new vehicle models and AI-related technologies as the Company expanded its product portfolio to support future growth.
Selling, general and administrative expenses
were
RMB2.50 billion
(
US$0.37 billion
) for the second quarter of 2026, representing an increase of 15.2% from
RMB2.17 billion
for the same period of 2025 and an increase of 32.5% from
RMB1.88 billion
for the first quarter of 2026. The year-over-year increase was primarily due to higher marketing and advertising expenses. The quarter-over-quarter increase was primarily due to the higher commission to the franchised stores and higher marketing and advertising expenses.
Other income, net
was
RMB0.14 billion
(
US$0.02 billion
) for the second quarter of 2026, representing a decrease of 42.2% from
RMB0.24 billion
for the same period of 2025 and a decrease of 24.7% from
RMB0.18 billion
for the first quarter of 2026. The year-over-year and quarter-over-quarter decreases were primarily due to the decrease in receipt of government subsidies.
Fair value gain on derivative liability relating to the contingent consideration
was a gain of
RMB0.05 billion
(
US$0.01 billion
) for the second quarter of 2026, compared with a gain of
RMB0.03 billion
for the same period of 2025 and a gain of
RMB0.05 billion
for the first quarter of 2026. This non-cash gain resulted from the fair value change of the contingent consideration related to the acquisition of
DiDi Global Inc.
("
DiDi
")'s smart auto business.
Loss from operations
was
RMB1.14 billion
(
US$0.17 billion
) for the second quarter of 2026, compared with
RMB0.93 billion
for the same period of 2025 and
RMB1.87 billion
for the first quarter of 2026.
Non-GAAP loss from operations
, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was
RMB1.04 billion
(
US$0.15 billion
) for the second quarter of 2026, compared with a loss of
RMB0.84 billion
for the same period of 2025 and a loss of
RMB1.78 billion
for the first quarter of 2026.
Net loss
was
RMB1.34 billion
(
US$0.20 billion
) for the second quarter of 2026, compared with a loss of
RMB0.48 billion
for the same period of 2025 and a loss of
RMB1.78 billion
for the first quarter of 2026.
Non-GAAP net loss
, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was
RMB1.24 billion
(
US$0.18 billion
) for the second quarter of 2026, compared with a loss of
RMB0.39 billion
for the same period of 2025 and a loss of
RMB1.69 billion
for the first quarter of 2026.
Net loss attributable to ordinary shareholders of
XPENG
was
RMB1.34 billion
(
US$0.20 billion
) for the second quarter of 2026, compared with a loss of
RMB0.48 billion
for the same period of 2025 and a loss of
RMB1.78 billion
for the first quarter of 2026.
Non-GAAP net loss attributable to ordinary shareholders of
XPENG
, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was
RMB1.24 billion
(
US$0.18 billion
) for the second quarter of 2026, compared with a loss of
RMB0.39 billion
for the same period of 2025 and a loss of
RMB1.69 billion
for the first quarter of 2026.
Basic and diluted net loss per ADS
were both
RMB1.40
(
US$0.21
) for the second quarter of 2026, compared with
RMB0.50
basic and diluted net loss per ADS for the second quarter of 2025 and
RMB1.87
basic and diluted net loss per ADS for the first quarter of 2026.
Non-GAAP basic and diluted net loss per ADS
were both
RMB1.29
(
US$0.19
) for the second quarter of 2026, compared with
RMB0.41
non-GAAP basic and diluted net loss per ADS for the second quarter of 2025 and
RMB1.76
non-GAAP basic and diluted net loss per ADS for the first quarter of 2026.
Balance Sheets
As of
June 30, 2026
, the Company had a cash position of
RMB40.48 billion
(
US$5.97 billion
), compared with
RMB42.09 billion
as of
March 31, 2026
.
Business Outlook
For the third quarter of 2026, the Company expects:
Deliveries
of
vehicles
to be between 115,000 and 121,000, representing a year-over-year change of approximately -0.87% to +4.30%, and a quarter-over-quarter increase of approximately 11.33% to 17.14%.
Total
revenues
to be between
RMB21.7 billion
and
RMB23.4 billion
, representing a year-over-year increase of approximately 6.47% to 14.81%, and a quarter-over-quarter increase of approximately 9.91% to 18.52%.
The above outlook is based on the current market conditions and reflects the Company's preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.
Conference Call
The Company's management will host an earnings conference call at
8:00 AM
U.S
. Eastern Time on
August 24, 2026
(
8:00 PM
Beijing/Hong Kong Time on
August 24
, 2026).
For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.
Event Title:                XPENG Second Quarter 2026 Earnings Conference Call
Pre-registration link:
https://s1.c-conf.com/diamondpass/10056093-aweri7.html
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at
http://ir.xiaopeng.com.
A replay of the conference call will be accessible approximately an hour after the conclusion of the call until
September 1, 2026
, by dialing the following telephone numbers:
United States
:
+1-855-883-1031
International:
+61-7-3107-6325
Hong Kong
,
China
:
800-930-639
Chinese Mainland:
400-120-9216
Replay Access Code:
10056093
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit
https://www.xpeng.com/
.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP measures, such as non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic loss per ordinary share and non-GAAP basic loss per ADS, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance.
For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliations of GAAP and non-GAAP Results" set forth in this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.79 to US$1.00, the exchange rate on June 30, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For Investor Enquiries
IR Department
XPeng Inc.
E-mail:
ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
Tel: +1-212-481-2050 or +86-10-6508-0677
E-mail:
xpeng@tpg-ir.com
For Media Enquiries
PR Department
XPeng Inc.
E-mail:
pr@xiaopeng.com
XPENG
INC.
UNAUDITED
CONDENSED
CONSOLIDATED
BALANCE
SHEETS
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
December 31,
June 30
,
June 30
,
2025
RMB
2026
RMB
2026
US$
ASSETS
Current assets
Cash and cash equivalents
17,329,612
14,238,387
2,098,479
Restricted cash
6,071,491
6,924,327
1,020,520
Short-term deposits
11,388,834
7,780,960
1,146,772
Restricted short-term deposits
296,277
1,207,694
177,992
Short-term investments
3,217,293
1,537,877
226,655
Long-term deposits, current portion
3,020,317
4,485,471
661,077
Restricted long-term deposits, current portion
600,472
—
—
Derivative assets
—
46,884
6,910
Accounts and notes receivable, net
1,996,917
1,140,279
168,056
Installment payment receivables, net,
current portion
3,553,054
3,729,175
549,612
Inventory
10,380,668
13,729,266
2,023,443
Amounts due from related parties
102,219
165,426
24,381
Prepayments and other current assets, net
5,296,673
6,519,738
960,889
Total
current
assets
63,253,827
61,505,484
9,064,786
Non-current assets
Long-term deposits
4,263,542
2,815,695
414,982
Restricted long-term deposits
1,468,708
1,488,663
219,402
Property, plant and equipment, net
13,527,237
17,874,208
2,634,332
Right-of-use assets, net
3,730,921
1,172,310
172,777
Intangible assets, net
4,253,168
3,985,127
587,335
Land use rights, net
3,216,526
3,475,115
512,169
Installment payment receivables, net
6,496,020
6,145,671
905,760
Long-term investments
2,523,037
2,708,224
399,143
Other non-current assets
429,644
415,819
61,284
Total
non-current
assets
39,908,803
40,080,832
5,907,184
Total
assets
103,162,630
101,586,316
14,971,970
XPENG
INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED)
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
December 31
,
June 30
,
June 30
,
2025
2026
2026
RMB
RMB
US$
LIABILITIES
Current liabilities
Short-term borrowings
4,282,000
10,070,000
1,484,134
Accounts payable
18,001,675
15,721,318
2,317,036
Notes payable
19,161,724
13,993,642
2,062,408
Amounts due to related parties
1,064
397
59
Income taxes payable
44,682
65,560
9,662
Derivative liabilities
281,009
199,834
29,452
Operating lease liabilities, current portion
445,901
305,387
45,008
Finance lease liabilities, current portion
55,581
75,910
11,188
Deferred revenue, current portion
1,463,065
1,698,642
250,349
Long-term borrowings, current portion
1,837,950
706,156
104,075
Accruals and other liabilities
12,538,698
12,468,572
1,837,640
Total current liabilities
58,113,349
55,305,418
8,151,011
Non-current liabilities
Long-term borrowings
6,588,865
8,983,337
1,323,980
Operating lease liabilities
4,246,599
2,068,806
304,904
Finance lease liabilities
740,576
4,649,369
685,232
Deferred revenue
1,206,014
1,354,301
199,599
Deferred tax liabilities
330,353
330,341
48,686
Other non-current liabilities
1,568,284
1,885,892
277,946
Total non-current liabilities
14,680,691
19,272,046
2,840,347
Total liabilities
72,794,040
74,577,464
10,991,358
SHAREHOLDERS' EQUITY
Class A Ordinary shares
105
106
16
Class
B Ordinary
shares
21
21
3
Additional paid-in capital
71,236,011
71,532,962
10,542,654
Statutory and other reserves
137,720
161,535
23,807
Accumulated deficit
(42,767,710)
(45,912,689)
(6,766,693)
Accumulated other comprehensive income
1,762,443
1,226,917
180,825
Total shareholders' equity
30,368,590
27,008,852
3,980,612
Total liabilities and shareholders' equity
103,162,630
101,586,316
14,971,970
XPENG
INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
Three Months Ended
June 30
,
March 31
,
June 30
,
June 30
,
2025
2026
2026
2026
RMB
RMB
RMB
US$
Revenues
Vehicle sales
16,883,696
10,999,321
17,046,476
2,512,340
Services and others
1,390,709
2,034,460
2,697,117
397,506
Total revenues
18,274,405
13,033,781
19,743,593
2,909,846
Cost of sales
Vehicle sales
(14,461,688)
(9,669,451)
(14,987,590)
(2,208,897)
Services and others
(645,387)
(681,737)
(672,521)
(99,117)
Total cost of sales
(15,107,075)
(10,351,188)
(15,660,111)
(2,308,014)
Gross profit
3,167,330
2,682,593
4,083,482
601,832
Operating expenses
Research and development expenses
(2,206,144)
(2,906,991)
(2,914,440)
(429,535)
Selling, general and administrative
expenses
(2,167,241)
(1,883,438)
(2,496,484)
(367,936)
Other income, net
237,402
182,249
137,250
20,228
Fair value gain on derivative liability
relating to the contingent
consideration
34,004
51,113
47,662
7,025
Total operating expenses, net
(4,101,979)
(4,557,067)
(5,226,012)
(770,218)
Loss from operations
(934,649)
(1,874,474)
(1,142,530)
(168,386)
Interest income
308,224
257,166
216,746
31,944
Interest expenses
(75,161)
(164,994)
(124,473)
(18,345)
Fair value (loss) gain on derivative
assets or derivative liabilities
—
(101)
36,969
5,449
Investment gain (loss) on long-term
investments
24,401
169,117
(140,377)
(20,689)
Exchange gain (loss) from foreign
currency transactions
142,684
(148,728)
(125,295)
(18,466)
Other non-operating income (expenses),
net
3,454
(959)
12,401
1,828
Loss before income tax benefit
(expenses)
and share of results of
equity method investees
(531,047)
(1,762,973)
(1,266,559)
(186,665)
Income tax benefit (expenses)
9,421
(9,251)
(74,281)
(10,948)
Share of results of equity method
investees
43,872
(11,876)
3,776
557
Net loss
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Net loss attributable to ordinary
shareholders of
XPeng Inc.
(477,754)
(1,784,100)
(1,337,064)
(197,056)
XPENG
INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS (CONTINUED)
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
Three Months Ended
June 30
,
March 31
,
June 30
,
June 30
,
2025
2026
2026
2026
RMB
RMB
RMB
US$
Net loss
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Other comprehensive loss
Foreign currency translation
adjustment, net of tax
(16,414)
(274,419)
(261,107)
(38,482)
Total comprehensive loss
attributable to
XPeng Inc.
(494,168)
(2,058,519)
(1,598,171)
(235,538)
Comprehensive loss attributable to
ordinary shareholders of
XPeng
Inc.
(494,168)
(2,058,519)
(1,598,171)
(235,538)
Weighted average number of
ordinary shares used in
computing net loss per ordinary
share
Basic and diluted
1,902,441,632
1,910,568,643
1,912,734,380
1,912,734,380
Net loss per ordinary share
attributable to ordinary
shareholders
Basic and diluted
(0.25)
(0.93)
(0.70)
(0.10)
Weighted average number of ADS
used in computing net loss per
share
Basic and diluted
951,220,816
955,284,322
956,367,190
956,367,190
Net loss per ADS attributable to
ordinary shareholders
Basic and diluted
(0.50)
(1.87)
(1.40)
(0.21)
XPENG INC.
UNAUDITED RECONCILIATIONS OF GAAP AND
NON-GAAP RESULTS
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
Three Months Ended
June 30
,
March 31
,
June 30
,
June 30
,
2025
2026
2026
2026
RMB
RMB
RMB
US$
Loss from operations
(934,649)
(1,874,474)
(1,142,530)
(168,386)
Fair value gain on derivative liability
relating to the contingent consideration
(34,004)
(51,113)
(47,662)
(7,025)
Share-based compensation expenses
126,475
149,549
147,403
21,725
Non-GAAP loss from operations
(842,178)
(1,776,038)
(1,042,789)
(153,686)
Net loss
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Fair value gain on derivative liability
relating to the contingent consideration
(34,004)
(51,113)
(47,662)
(7,025)
Share-based compensation expenses
126,475
149,549
147,403
21,725
Non-GAAP net loss
(385,283)
(1,685,664)
(1,237,323)
(182,356)
Net loss attributable to ordinary
shareholders
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Fair value gain on derivative liability
relating to the contingent consideration
(34,004)
(51,113)
(47,662)
(7,025)
Share-based compensation expenses
126,475
149,549
147,403
21,725
Non-GAAP net loss attributable to
ordinary shareholders of
XPeng Inc.
(385,283)
(1,685,664)
(1,237,323)
(182,356)
Weighted average number of ordinary
shares used in calculating Non-GAAP
net loss per share
Basic and diluted
1,902,441,632
1,910,568,643
1,912,734,380
1,912,734,380
Non-GAAP net loss per ordinary share
Basic and diluted
(0.20)
(0.88)
(0.65)
(0.10)
Weighted average number of ADS used
in calculating Non-GAAP net loss per
share
Basic and diluted
951,220,816
955,284,322
956,367,190
956,367,190
Non-GAAP net loss per ADS
Basic and diluted
(0.41)
(1.76)
(1.29)
(0.19)
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SOURCE
XPeng Inc.