Summary by Futu AI
Xpeng announced its 2024 interim report, showing that as of June 30, 2024, the total car deliveries reached 52,028 vehicles, a year-on-year increase of 25.6%. The physical sales network expanded to 611 stores, with 1,298 self-operated charging stations. Total revenue for the period reached RMB 14.66 billion, a 61.2% increase year-on-year, with car sales revenue at RMB 12.36 billion, a 55.7% increase. The gross margin improved from -1.4% to 13.5%, and the automobile gross margin increased from -5.9% to 6.0%. The net loss for the period decreased to RMB 2.65 billion, an improvement from RMB 5.14 billion in the same period last year. In addition, Xpeng signed an electronic and electrical architecture technology strategic cooperation agreement with Volkswagen Group and launched the asia vets Pure Electric Liftback Coupe MONA M03 in July 2024. As of June 30, 2024, cash and cash equivalents, restricted cash, short-term investments, and fixed deposits amounted to RMB 37.33 billion.