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🇺🇸 SECXPENG INC.Codex · 实盘不做把握 6/10不做原因:风险收益比不佳
北京时间·🕒 发布 18:10:26·⟳ 抓取 18:10:53 +27s·⚡ 决策 09-01 18:36:10 +25m17s·56.1 天前

小鹏汽车8月交付39107辆,同比增4%、环比增约2.8%

交付数为官方一手披露且方向正面,但只是温和同比/环比改善,未显著超出Q3交付指引路径;机器人出租车测试许可和G9L预售信息更偏长期叙事,短线业绩弹性不足。

📄 原文XPENG INC.↗ 原文
----- d76421d6k.htm ----- 6-K 1 d76421d6k.htm FORM 6-K Form 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHIN…
不做 XPeng Inc.(XPEV.US)
不做多:8月交付温和改善但未明显超出Q3指引路径,Robotaxi许可和G9L预售短期业绩增量未量化;不做空:当前事件方向为新增利好,不满足强空催化。
不做 小鹏汽车-W(09868.HK)
港股为同一事件映射,盘后已披露且交付数据缺少明显预期差,次日追高风险收益不佳。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)

研究档案

结论摘要

小鹏汽车8月交付39107辆,同比增4%、环比增约2.8%,为今年较高月度水平,但结合公司Q3交付115000-121000辆指引,7-8月累计77134辆后9月仍需约3.79万至4.39万辆,8月数据没有给出明显上修信号;当前更适合作为基本面跟踪,不构成可执行正期望交易。

🔎 新鲜度:最早出现 2026-09-01 · 扩散 medium · price-in 风险 medium ↗ ↗ ↗

消息传播链

  1. 2026-09-01 06:10 ET官方确认SEC EDGAR一手源原文 ↗
    XPeng以6-K提交8月交付结果新闻稿,属于一手法定披露。
  2. 2026-09-01官方确认小鹏汽车官网原文 ↗
    公司官网同步披露8月交付39107辆、同比增长4%,并补充GX和G9L信息。
  3. 2026-09-01 12:57 CST财经媒体扩散CnEVPost非一手原文 ↗
    行业媒体指出8月为年内第二高月交付,7-8月后9月仍需37866-43866辆完成Q3指引。

关键理由

  • 8月交付39107辆确认销量从7月38027辆继续修复,但增幅较小。
  • 按Q3指引倒推,9月仍需37866-43866辆,8月结果基本落在完成指引所需节奏内。
  • G9L预售和Robotaxi远程测试许可偏中长期叙事,短线收入增量未能量化。

主要风险

  • 若9月G9L交付和新车型订单显著超预期,当前回避可能错过后续销量斜率交易。
  • 美股盘前及港股次日可能受中国新能源车板块整体情绪影响,单月交付数据本身的边际解释力有限。

反向证据

  • 做多前查反向 · 来源 web · 日期 2026-09-01 · 影响 weakens
    8月交付虽为年内第二高,但与Q3指引路径相比并非明显超预期,削弱追多edge。
    检索:XPeng August 2026 deliveries guidance Q3 115000 121000 September needed 原文 ↗
  • 做多前查反向 · 来源 web · 日期 2026-08-24 · 影响 weakens
    Q2已有交付与毛利率改善披露,本次月度交付更像延续确认而非新的盈利指引上修。
    检索:XPeng Q2 2026 results gross margin deliveries guidance 原文 ↗

先例如何影响了这次决策

对本次决策的影响:先例不足进一步压低交易把握;结合本次数据未显著超指引路径,最终不下单。

方向:未使用足够干净的高相似先例定方向;月度交付披露通常要看是否明显超预期和是否改变季度指引路径。

涨幅量级:没有高相似、同市场、同阶段且首发锚点干净的样本可校准tp/sl。

形态:样本不足,不能声称稳定上涨或见光死。

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原文全文

展开原文 · 5,068 字
----- d76421d6k.htm -----
6-K
1
d76421d6k.htm
FORM 6-K
Form 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO
RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
September 2026
Commission File
Number: 001-39466
XPENG INC.
No.10, Cencun Fengzhuang Avenue
Tianhe District, Guangzhou
Guangdong 510640
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form 20-F ☒     Form 40-F ☐
TABLE OF CONTENTS
Exhibit 99.1
Press release: XPENG Announces Vehicle Delivery Results for August 2026
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
XPENG INC.
By:
/s/ Xiaopeng He
Name:
Xiaopeng He
Title:
Chairman and Chief Executive Officer
Date: September 1, 2026

----- d76421dex991.htm -----
EX-99.1
2
d76421dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
XPENG Announces Vehicle Delivery Results for August 2026
GUANGZHOU, China, Sept. 1, 2026 (PRNewswire) — XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading
global Physical AI company, today announced its vehicle delivery results for August 2026.
XPENG delivered 39,107 vehicles in August 2026, up 4%
year-over-year.
On August 11, 2026, the XPENG G9L made its official debut and commenced
pre-sales
in the
Chinese mainland.
In August, XPENG Robotaxi business validation gained further progress. The Company secured a permit to conduct remote testing of
intelligent connected vehicles in Guangzhou, allowing road trials without an onboard safety operator on designated Level 1, 2 and 3 test roads across the city and marking a key milestone toward fully driverless road testing.
XPENG’s electric vehicles delivered from January to August 2026 are expected to reduce life-cycle greenhouse gas emissions by more than
3.72 million tons compared to internal combustion engine vehicles, equivalent to the carbon absorbed by 61.6 million young trees over 10 years.
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/.
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.
Contacts:
For Investor Enquiries:
IR Department
XPeng Inc.
Email:
ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
Tel: +1 212 481 2050 / +86 10
6508 0677
Email:
xpeng@tpg-ir.com
For Media Enquiries:
PR Department
XPeng Inc.
Email:
pr@xiaopeng.com
Source: XPeng Inc.

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