Overview

• Second-quarter revenue reached 18.27 billion yuan as deliveries jumped to 103,181, with record gross margin of 17.3% and vehicle margin of 14.3% while net loss narrowed to 0.48 billion yuan.
• XPeng forecasts Q3 revenue of 19.6–21.0 billion yuan and deliveries of 113,000–118,000, implying 76,000–81,000 units needed across August and September after a 36,717 record in July.
• Cash and equivalents rose to a record 47.57 billion yuan, and the company secured a 1 billion yuan credit facility from Citic Bank to support operations and development.
• Volkswagen and XPeng broadened their China cooperation to include hybrid and ICE architectures, and industry data show 7,900 weekly registrations in China for Aug. 11–17.
• CEO He Xiaopeng said the refreshed P7 set the company’s pre‑order record and will be released next week, while analysts at Bank of America and Tiger Securities reaffirmed Buy ratings with price targets of $26 and $28.