Overview
- Xiaomi’s automotive and AI division posted its first single‑quarter operating profit at RMB 0.7 billion on revenue of RMB 29.0 billion, with 108,796 vehicles delivered and management saying the 350,000 annual target should be reached this week.
- Leapmotor returned to profit with RMB 19.45 billion in Q3 revenue, RMB 0.15 billion in net income and 173,852 deliveries, and said its first FAW‑linked overseas model is set for mass production in the second half of next year.
- XPeng doubled revenue to RMB 20.38 billion and delivered 116,007 vehicles, yet it remained loss‑making with a GAAP net loss of RMB 0.38 billion.
- Zeekr reported RMB 31.56 billion in revenue and 140,195 deliveries, narrowing losses to a RMB 0.31 billion net deficit in the quarter.
- Baidu disclosed AI business revenue of about RMB 10 billion, up over 50% year over year, even as it recorded a GAAP net loss of RMB 11.2 billion; industry leaders warned of consolidation pressures as subsidy cuts and rising component costs loom, with Xiaomi cautioning margins could slip next year and securing 2026 memory supply while considering price and mix adjustments.