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XPeng, Inc. Class A (HK:9868)
:9868
Hong Kong Market
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XPeng, Inc. Class A (9868) AI Stock Analysis

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HK:9868

XPeng, Inc. Class A

(9868)

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Neutral 55 (OpenAI - 4o)
Rating:55Neutral
Price Target:
HK$93.00
▲(4.61% Upside)
XPeng's overall stock score is driven by strong technical momentum and promising earnings call highlights, including record deliveries and revenue growth. However, the score is tempered by ongoing financial challenges, including negative profitability and cash flow issues, as well as a poor valuation due to a negative P/E ratio.
Positive Factors
Revenue Growth
XPeng's significant revenue growth indicates strong market demand and effective sales strategies, reinforcing its competitive position in the EV market.
Technological Advancements
Continued investment in technology enhances XPeng's product differentiation and positions it as a leader in AI-powered vehicle technology.
International Expansion
XPeng's successful international expansion diversifies revenue streams and strengthens its global brand presence, supporting long-term growth.
Negative Factors
Net Losses
Ongoing net losses highlight financial challenges that could affect XPeng's ability to invest in growth and innovation, impacting long-term sustainability.
Increased R&D and SG&A Expenses
Rising expenses in R&D and SG&A could pressure margins and delay profitability, necessitating careful cost management to maintain financial health.
Cash Flow Challenges
Lack of cash flow generation limits XPeng's financial flexibility, potentially constraining its ability to fund operations and strategic initiatives.

XPeng, Inc. Class A (9868) vs. iShares MSCI Hong Kong ETF (EWH)

XPeng, Inc. Class A Business Overview & Revenue Model

Company DescriptionXPeng, Inc. Class A (9868) is a prominent Chinese electric vehicle (EV) manufacturer headquartered in Guangzhou, China. The company specializes in designing, developing, manufacturing, and selling smart EVs, focusing on integrating advanced technologies such as artificial intelligence and autonomous driving capabilities into its vehicles. XPeng's product lineup includes models like the G3 SUV, P7 sedan, and the upcoming P5 sedan, catering to a growing consumer demand for sustainable transportation solutions. The company operates primarily in the automotive sector, with a commitment to innovation and sustainability.
How the Company Makes MoneyXPeng generates revenue primarily through the sale of electric vehicles, which constitutes its main revenue stream. The company sells its vehicles directly to consumers and also through a network of dealerships. In addition to vehicle sales, XPeng earns revenue from value-added services, including software subscriptions for its autonomous driving and in-car connectivity features. The company has established partnerships with technology firms to enhance its vehicle capabilities, which can lead to additional revenue through collaborative projects. Furthermore, XPeng may benefit from government incentives and subsidies aimed at promoting the adoption of electric vehicles, contributing to its overall earnings.

XPeng, Inc. Class A Earnings Call Summary

Earnings Call Date:Aug 19, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 17, 2025
Earnings Call Sentiment Neutral
XPeng's earnings call highlighted significant achievements in delivery and revenue growth, technological advancements, and international expansion. However, challenges remain with ongoing net losses and increased R&D and SG&A expenses. The sentiment is balanced as the highlights are impressive but tempered by the financial losses and increased costs.
Q2-2025 Updates
Positive Updates
Record Deliveries and Revenue Growth
XPeng achieved a record high performance with deliveries reaching 103,181 units, a 242% increase year-over-year. Total revenues were RMB 18.27 billion, an increase of 125.3% year-over-year.
Improved Gross Margin
Vehicle gross margin increased 3.8 percentage points quarter-over-quarter to 14.3%, marking the eighth consecutive quarter of improvement, raising the company's overall gross margin to 17.3%.
Strong Cash Position
Free cash flow in Q2 exceeded RMB 2 billion with total cash on hand surpassing RMB 47.5 billion.
Technological Advancements and New Product Launches
The G7, featuring an in-house developed Turing AI SoC, was launched and became the top among its competitors. XPeng is also rolling out innovations like the Kunpeng Super Electric Models and Turing AI SoC.
International Expansion
Overseas deliveries exceeded 18,000 units, increasing over 200% year-over-year. XPeng ranks as a best-selling Chinese NEV start-up brand in multiple international markets.
Negative Updates
Net Losses Despite Revenue Growth
Net loss was RMB 0.48 billion for the second quarter of 2025, compared with RMB 1.28 billion year-over-year and RMB 0.66 billion quarter-over-quarter, indicating ongoing financial challenges.
Increased R&D and SG&A Expenses
R&D expenses increased by 50.4% year-over-year and SG&A expenses by 37.7% year-over-year, reflecting higher costs related to new model development, marketing, and advertising.
Company Guidance
During XPeng's Second Quarter 2025 Earnings Conference Call, the company provided guidance that highlighted significant growth in several key metrics. In Q2 2025, XPeng achieved record-high deliveries of 103,181 units, marking a 242% increase year-over-year. The company's total revenues reached RMB 18.27 billion, a 125.3% increase from the previous year, with revenues from vehicle sales increasing by 147.6% year-over-year to RMB 16.88 billion. XPeng's vehicle gross margin rose to 14.3%, a 3.8 percentage point increase from the previous quarter, contributing to an overall gross margin of 17.3%. The company reported a net loss of RMB 0.48 billion, which showed a narrowing from the previous year's loss of RMB 1.28 billion. In terms of cash flow, XPeng generated more than RMB 2 billion in free cash flow and reported total cash on hand exceeding RMB 47.5 billion. Looking ahead, XPeng expects Q3 deliveries to range between 113,000 to 118,000 units, with projected revenues between RMB 19.6 billion and RMB 21 billion, representing a year-over-year growth of 94% to 107.9%. The company anticipates continuing to lead in AI-powered vehicle technology and aims to maintain a strong growth trajectory while advancing operational efficiency towards achieving sustainable profitability.

XPeng, Inc. Class A Financial Statement Overview

Summary
XPeng, Inc. shows strong revenue growth, but persistent operational losses and cash flow challenges are concerning. The company's leverage is moderate, but profitability issues impact its overall financial health.
Income Statement
45
Neutral
The company shows significant revenue growth, with a 33.20% increase from 2023 to 2024. However, profitability remains a challenge as evidenced by negative EBIT and net income margins. The gross profit margin improved to 14.31% in 2024, but the net profit margin is still negative at -14.17%, indicating ongoing operational challenges.
Balance Sheet
55
Neutral
The company maintains a solid equity base with an equity ratio of 37.80% in 2024, but the high debt-to-equity ratio of 0.47 highlights leverage concerns. Despite these, the return on equity remains negative due to losses, pointing towards inefficiencies in generating shareholder returns.
Cash Flow
40
Negative
The cash flow statements indicate zero operating and free cash flow in 2024, suggesting cash flow management issues. The lack of operating cash flow to support net income reflects challenges in converting revenue into cash, impacting liquidity and financial flexibility.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue60.29B40.87B30.68B26.86B20.99B5.84B
Gross Profit9.49B5.85B451.15M3.09B2.62B265.99M
EBITDA-3.44B-4.97B-8.02B-7.58B-6.07B-2.27B
Net Income-4.28B-5.79B-10.38B-9.14B-4.86B-2.73B
Balance Sheet
Total Assets92.43B82.71B84.16B71.49B65.65B44.71B
Cash, Cash Equivalents and Short-Term Investments33.87B32.72B31.67B31.22B39.72B33.01B
Total Debt30.67B15.94B15.39B12.83B5.05B2.29B
Total Liabilities62.09B51.43B47.83B34.58B23.50B10.28B
Stockholders Equity30.34B31.27B36.33B36.91B42.15B34.43B
Cash Flow
Free Cash Flow0.00-4.44B-1.36B-12.91B-5.41B-1.50B
Operating Cash Flow0.00-2.01B956.16M-8.23B-1.09B-139.77M
Investing Cash Flow0.00-1.26B631.17M4.85B-33.08B-4.41B
Financing Cash Flow0.00669.32M8.02B6.00B14.63B34.33B

XPeng, Inc. Class A Technical Analysis

Technical Analysis Sentiment
Positive
Last Price88.90
Price Trends
50DMA
85.37
Positive
100DMA
79.74
Positive
200DMA
77.31
Positive
Market Momentum
MACD
0.83
Negative
RSI
55.52
Neutral
STOCH
76.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9868, the sentiment is Positive. The current price of 88.9 is above the 20-day moving average (MA) of 85.82, above the 50-day MA of 85.37, and above the 200-day MA of 77.31, indicating a bullish trend. The MACD of 0.83 indicates Negative momentum. The RSI at 55.52 is Neutral, neither overbought nor oversold. The STOCH value of 76.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9868.

XPeng, Inc. Class A Risk Analysis

XPeng, Inc. Class A disclosed 115 risk factors in its most recent earnings report. XPeng, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

XPeng, Inc. Class A Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
$177.69B10.7217.07%1.88%
73
Outperform
$187.42B10.8913.04%3.26%7.93%-12.94%
66
Neutral
$1.04T20.9119.95%1.49%22.94%10.25%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
61
Neutral
HK$117.89B-4.52-328.79%9.20%-5.48%
60
Neutral
€156.95B18.9612.34%7.09%-21.36%
55
Neutral
HK$169.45B-36.42-13.27%65.91%48.38%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:9868
XPeng, Inc. Class A
88.90
39.50
79.96%
HK:1211
BYD Co
97.10
3.80
4.07%
HK:0175
Geely Automobile Holdings
17.56
3.29
23.09%
HK:2333
Great Wall Motor Co
15.08
2.55
20.35%
HK:2015
Li Auto, Inc. Class A
77.75
-17.95
-18.76%
HK:9866
NIO Inc. Class A
56.35
16.10
40.00%

XPeng, Inc. Class A Corporate Events

XPeng Inc. Achieves Record EV Deliveries and Expands Globally
Nov 3, 2025

XPeng Inc. reported record monthly deliveries of 42,013 smart electric vehicles in October 2025, marking a 76% year-over-year increase. The company is experiencing significant growth, with deliveries exceeding 40,000 units for the second consecutive month and a 190% increase in deliveries over the first ten months of the year. XPeng is also expanding its global footprint by entering seven new international markets and continues to see strong adoption of its advanced driver assistance system, XNGP. The company plans to showcase its latest AI advancements at the upcoming XPENG AI Day.

The most recent analyst rating on (HK:9868) stock is a Hold with a HK$85.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng, Inc. Announces Significant RSU Grants to Senior Management and Employees
Oct 3, 2025

XPeng, Inc. has announced the grant of 5,075,940 Restricted Share Units (RSUs) to one senior management member and 318 employees under its 2025 Share Incentive Scheme. This initiative aims to align the interests of its employees with the company’s long-term goals. The RSUs will vest over a period of four years, with specific vesting schedules for senior management and employees, and are subject to performance targets for senior management. This move is expected to enhance employee motivation and retention, potentially impacting the company’s operational efficiency and market competitiveness.

The most recent analyst rating on (HK:9868) stock is a Buy with a HK$108.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Achieves Record EV Deliveries and Maintains Top ESG Rating
Oct 2, 2025

XPeng Inc. reported a significant increase in vehicle deliveries for September and the third quarter of 2025, with a record 41,581 Smart EVs delivered in September, marking a 95% year-over-year increase. The company also achieved a 149% year-over-year increase in deliveries for the third quarter, reaching 116,007 units. Additionally, XPeng’s P7 model became the fastest to achieve 40 jobs per hour on a new production line, and the company maintained its AAA MSCI ESG Rating for the third consecutive year. These achievements highlight XPeng’s strong operational performance and its leading position in the global automotive industry.

The most recent analyst rating on (HK:9868) stock is a Buy with a HK$108.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Files Form S-8 for 2025 Share Incentive Scheme
Sep 19, 2025

XPeng Inc. has announced the filing of a registration statement on Form S-8 with the U.S. Securities and Exchange Commission. This filing is related to the registration of Class A ordinary shares under the 2025 Share Incentive Scheme, which aims to incentivize and retain talent within the company. This move is expected to strengthen XPeng’s position in the competitive electric vehicle market by aligning employee interests with company growth, potentially enhancing stakeholder value.

The most recent analyst rating on (HK:9868) stock is a Buy with a HK$100.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Achieves Record EV Deliveries and Launches New Model in August 2025
Sep 1, 2025

XPeng Inc. reported a record-breaking delivery of 37,709 smart electric vehicles in August 2025, marking a 169% year-over-year increase and a 3% rise from the previous month. The company also launched the new XPENG P7 model, with deliveries starting nationwide, and achieved an 85% penetration rate for its human-AI co-pilot feature in urban driving, indicating strong market acceptance and technological advancement.

The most recent analyst rating on (HK:9868) stock is a Hold with a HK$97.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Renews Partnership with Guangdong Huitian for Flying Vehicles
Aug 22, 2025

XPeng, Inc. has announced the renewal of its Cooperation Framework Agreement with Guangdong Huitian, effective from January 1, 2026, to December 31, 2028. This agreement continues their collaboration in the research, development, manufacturing, sales, and after-sales service of flying vehicles. The partnership involves Guangdong Xiaopeng providing R&D, technology consulting, and sales agent services, while Guangdong Huitian focuses on the air module’s R&D and manufacturing. The agreement also includes provisions for technological upgrades and the exclusive sale of flying vehicles by Guangdong Xiaopeng to Guangdong Huitian, with non-exclusive sales to end customers through XPeng’s distribution network. This strategic move is expected to strengthen XPeng’s position in the emerging flying vehicle market.

The most recent analyst rating on (HK:9868) stock is a Buy with a HK$98.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng CEO Increases Shareholding, Signaling Confidence in Future Growth
Aug 21, 2025

XPeng Inc. announced that its co-founder and CEO, Mr. Xiaopeng He, has increased his shareholding in the company by purchasing 3,100,000 Class A ordinary shares through Galaxy Dynasty Limited. This acquisition reflects Mr. He’s strong confidence in the company’s future prospects and growth potential, reinforcing his long-term commitment to XPeng. The move is seen as a positive signal to stakeholders about the company’s strategic direction and market positioning.

The most recent analyst rating on (HK:9868) stock is a Hold with a HK$80.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Achieves Record Growth in Vehicle Deliveries and Revenue in H1 2025
Aug 19, 2025

XPeng Inc. reported a substantial increase in vehicle deliveries and revenue for the first half of 2025, with deliveries reaching 197,189 units, a 279% increase from the previous year. The company’s revenue rose by 132.5% to RMB34.09 billion, driven by strong vehicle sales. Despite facing industry-wide price competition, XPeng improved its vehicle margin and overall gross margin, achieving record-high performance in key operational metrics. The company’s strategic focus on technology upgrades and sustainable growth is expected to accelerate sales growth and enhance profitability.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Achieves Robust Growth in Q2 2025 Financial Results
Aug 19, 2025

XPeng Inc. reported significant growth in its second quarter 2025 financial results, with a 125.3% increase in total revenues year-over-year, reaching RMB18.27 billion. The company also achieved a substantial rise in vehicle deliveries, totaling 103,181 units, marking a 241.6% increase from the same period in 2024. Despite a net loss of RMB0.48 billion, XPeng’s improved gross and vehicle margins reflect its strengthened market position and operational efficiency.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng and Volkswagen Expand E/E Architecture Collaboration
Aug 15, 2025

XPeng Inc. and Volkswagen Group have expanded their technical collaboration on E/E Architecture, which will now be integrated across Volkswagen’s electric, internal combustion engine, and plug-in hybrid platforms in China. This collaboration aims to accelerate Volkswagen’s software-defined vehicle strategy, enabling faster software updates and reducing vehicle development cycles, thereby enhancing competitiveness and achieving economies of scale in the Chinese market.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

XPeng Inc. Schedules Board Meeting to Review Financial Results
Aug 5, 2025

XPeng Inc. announced a board meeting scheduled for August 19, 2025, to review and approve the company’s second quarterly and interim results for the first half of the year. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction. The company will also host an earnings conference call on the same day, allowing stakeholders to engage with management and gain further understanding of the company’s operations and market positioning.

The most recent analyst rating on (HK:9868) stock is a Sell with a HK$35.00 price target. To see the full list of analyst forecasts on XPeng, Inc. Class A stock, see the HK:9868 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 04, 2025