- Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB48.33 billion (US$6.79 billion) as of September 30, 2025
- Quarterly total revenues were RMB20.38 billion, a 101.8% increase year-over-year
- Quarterly gross margin was 20.1%, an increase of 4.8 percentage points over the same period of 2024
- Quarterly vehicle margin was 13.1%, an increase of 4.5 percentage points over the same period of 2024
GUANGZHOU, China, Nov. 17, 2025 /PRNewswire/ – XPeng Inc. („XPENG“ or the „Company,“ NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle („Smart EV“) company, today announced its unaudited financial results for the three months ended September 30, 2025.
Operational and Financial Highlights for the Three Months Ended September 30, 2025
2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 Total deliveries 116,007 103,181 94,008 91,507 46,533 30,207
Total deliveries of vehicles were 116,007 for the third quarter of 2025, representing an increase of 149.3% from 46,533 in the corresponding period of 2024.
XPENG’s physical sales network had a total of 690 stores, covering 242 cities as of September 30, 2025.
XPENG self-operated charging station network reached 2,676 stations, including 1,623 XPENG S4 and S5 ultra-fast charging stations as of September 30, 2025.
Total revenues were RMB20.38 billion (US$2.86 billion) for the third quarter of 2025, representing an increase of 101.8% from the same period of 2024, and an increase of 11.5% from the second quarter of 2025.
Revenues from vehicle sales were RMB18.05 billion (US$2.54 billion) for the third quarter of 2025, representing an increase of 105.3% from the same period of 2024, and an increase of 6.9% from the second quarter of 2025.
Gross margin was 20.1% for the third quarter of 2025, compared with 15.3% for the same period of 2024 and 17.3% for the second quarter of 2025.
Vehicle margin, which is gross profit of vehicle sales as a percentage of vehicle sales revenue, was 13.1% for the third quarter of 2025, compared with 8.6% for the same period of 2024 and 14.3% for the second quarter of 2025.
Net loss was RMB0.38 billion (US$0.05 billion) for the third quarter of 2025, compared with RMB1.81 billion for the same period of 2024 and RMB0.48 billion for the second quarter of 2025. Excluding share-based compensation expenses and fair value loss (gain) on derivative liability relating to the contingent consideration, non-GAAP net loss was RMB0.15 billion (US$0.02 billion) for the third quarter of 2025, compared with RMB1.53 billion for the same period of 2024 and RMB0.39 billion for the second quarter of 2025.
Net loss attributable to ordinary shareholders of XPENG was RMB0.38 billion (US$0.05 billion) for the third quarter of 2025, compared with RMB1.81 billion for the same period of 2024 and RMB0.48 billion for the second quarter of 2025. Excluding share-based compensation expenses and fair value loss (gain) on derivative liability relating to the contingent consideration, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB0.15 billion (US$0.02 billion) for the third quarter of 2025, compared with RMB1.53 billion for the same period of 2024 and RMB0.39 billion for the second quarter of 2025.
Basic and diluted net loss per American depositary share (ADS) were both RMB0.40 (US$0.06) and basic and diluted net loss per ordinary share were both RMB0.20 (US$0.03) for the third quarter of 2025. Each ADS represents two Class A ordinary shares.
Non-GAAP basic and diluted net loss per ADS were both RMB0.16 (US$0.02) and non-GAAP basic and diluted net loss per ordinary share were both RMB0.08 (US$0.01) for the third quarter of 2025.
Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB48.33 billion (US$6.79 billion) as of September 30, 2025, compared with RMB47.57 billion as of June 30, 2025. 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.
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