Financial Data and Key Metrics Changes - XPeng reported total revenues of RMB 20.38 billion for Q3 2025, a 101.8% increase year-over-year and an 11.5% increase quarter-over-quarter [21] - Vehicle sales revenues were RMB 18.05 billion, reflecting a 105.3% year-over-year increase and a 6.9% quarter-over-quarter increase [21] - Gross margin reached 20.1%, up from 15.3% in Q3 2024 and 17.3% in Q2 2025 [22] - Net loss decreased to RMB 0.38 billion from RMB 1.81 billion year-over-year and RMB 0.48 billion quarter-over-quarter [23] - Cash reserves totaled RMB 48.33 billion as of September 30, 2025 [24] Business Line Data and Key Metrics Changes - Vehicle deliveries totaled 116,007 units in Q3 2025, a 149% increase year-over-year [5] - The XPeng P7 became one of the top three BEV sedans, contributing to over 40,000 monthly deliveries starting in September [5] - Revenues from services and others were RMB 2.33 billion, a 78.1% year-over-year increase [21] Market Data and Key Metrics Changes - Monthly overseas deliveries exceeded 5,000 units for the first time in September 2025, a 79% year-over-year increase [11] - XPeng expanded its sales and service network to 52 countries and regions, with 56 new overseas stores opened in Q3 2025 [11] Company Strategy and Development Direction - XPeng aims to achieve break-even in Q4 2025 and is focused on physical AI R&D, targeting mass production of VLA 2.0 models, Robotaxi, and humanoid robots by 2026 [5][6] - The company plans to open-source its physical world model and collaborate with mobility platforms for Robotaxi services [7] - XPeng is launching the XPeng X9 Super Extended Range EV, which is expected to drive growth in the NEV market [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant sales growth opportunities through the introduction of new models and expansion into international markets [10][19] - The company anticipates total deliveries in Q4 2025 to reach between 125,000 and 132,000 units, reflecting a year-over-year growth of 36.6%-44.3% [19] - Management highlighted the importance of a collaborative ecosystem for scaling Robotaxi operations and humanoid robots [15][54] Other Important Information - XPeng's R&D expenses increased to RMB 2.43 billion, reflecting a 48.7% year-over-year increase [22] - The company plans to introduce three super extended range products in Q1 2026 to capture more of the EREV market [10] Q&A Session Summary Question: What are XPeng's long-term competitive advantages in physical AI? - Management emphasized the importance of full-stack technology capability and cross-domain integration as key competitive advantages in physical AI [26][28] Question: What is the expected revenue trend from collaboration with Volkswagen? - Revenue from technical collaboration is expected to remain comparable to Q3 levels in Q4, with significant ramp-up anticipated in 2026 as joint vehicle production begins [30][32] Question: Can you elaborate on the humanoid robot strategy and competitive advantages? - Management highlighted the unique human-like design and advanced integration of hardware and software as competitive advantages in the humanoid robot market [35][38] Question: What are the key milestones for humanoid robot commercialization by 2026? - Management outlined the challenges in mass production and the goal to achieve full capability integration by the end of 2026, with initial deployment in commercial scenarios [40][45] Question: What is the plan for Robotaxi services in 2026? - XPeng plans to launch three Robotaxi models in 2026, focusing on addressing current industry challenges and establishing a sustainable business model [47][49]

今日上榜个股中，盈富基金、阿里巴巴-W、小米集团-W等7只股同时上榜港股通（深）、港股通 （沪）成交活跃股， 盈富基金合计成交额39.03亿港元，成交净买入37.27亿港元，阿里巴巴-W合计成 交额101.70亿港元，成交净买入20.71亿港元。赣锋锂业合计成交额19.17亿港元，成交净卖出8353.42万 港元，中芯国际合计成交额38.54亿港元，成交净卖出7329.47万港元。 11月17日恒生指数下跌0.71%，南向资金全天合计成交金额为913.76亿港元，其中，买入成交499.12亿 港元，卖出成交414.64亿港元，合计净买入金额84.48亿港元。具体来看，港股通（深）累计成交金额 351.89亿港元，买入成交196.51亿港元，卖出成交155.38亿港元，合计净买入金额41.13亿港元；港股通 （沪）累计成交金额561.86亿港元，买入成交302.61亿港元，卖出成交259.26亿港元，合计净买入金额 43.35亿港元。 成交活跃股方面，今日上榜个股中，南向资金成交金额最多的是阿里巴巴-W，合计成交额101.70亿港 元，盈富基金、中芯国际成交额紧随其后，分别成交39.03亿港元、38.54亿港元 ...

11月17日，小鹏汽车（9868.HK）发布2025年第三季度未经审计财务业绩，多项数据向好。小鹏汽车董 事长、CEO何小鹏表示，"小鹏汽车的各项关键经营指标，包括销量、收入、毛利率、在手现金再创新 高。" 具体来看，第三季度，小鹏汽车总交付量约为11.6万辆，同比增加149.3%。去年同期，小鹏汽车推出了 MONA系列首款车型M03，将沉寂已久的小鹏汽车拉出ICU，后续推出的P7+、G7、全新P7、G6、G9 等车型亦收获了市场的热烈反馈，今年10月，小鹏汽车月度交付量再创新高，达到42013辆。 销量带动营收大幅增长，第三季度，小鹏汽车汽车销售收入达到180.5亿元，同比上升105.3%，环比亦 有6.9%的增长。与大众的合作不断显现高含金量，第三季度服务及其他收入为23.3亿元，同比增长 78.1%，环比亦大增67.3%。总体来看，季度内，小鹏汽车总收入为203.8亿元，同比增长101.8%，环比 增长11.5%。 按照目前的速度，小鹏汽车第四季度盈亏平衡有望。第三季度，小鹏汽车净亏损仅3.8亿元，而去年同 期为18.1亿元，今年第二季度为4.8亿元。单看经营亏损，季度内为7.5亿元，去年同期为18.5 ...

格隆汇11月17日丨小鹏汽车-W(09868.HK)宣布，陈玉东已获委任为公司的独立非执行董事，自2026年1 月1日生效。 ...

XPeng reports a third-quarter per-share loss of 1 cent from sales of $2.9 billion. ...

小鹏汽车-W(09868)发布公告，陈玉东先生已获委任为公司的独立非执行董事，自2026年1月1日生效。 ...

智通财经APP讯，小鹏汽车-W(09868)发布公告，陈玉东先生已获委任为公司的独立非执行董事，自 2026年1月1日生效。 ...

陳先生，64 歲，自 2024 年 4 月起擔任福然德股份有限公司（於上海證券交易所上市，股票代 號 605050.SH）的獨立董事。陳先生自 2012 年 3 月至 2024 年 5 月擔任無錫威孚高科技集團股 份有限公司（於深圳證券交易所上市，股票代號 000581.SZ）的董事。陳先生於 2008 年 5 月 至 2023 年 12 月先後擔任博世（中國）投資有限公司的執行副總裁及總裁。陳先生曾於 2007 年 2 月至 2008 年 5 月擔任博世集團汽油機系統事業部副總裁。於 1998 年 12 月至 2006 年 1 月 期間擔任德爾福汽車零部件集團大中華區總工程師、商务總監及事業部中國區總經理。 陳先生於 1982 年 7 月於重慶大學獲得電機系學士學位。陳先生于 1987 年 8 月至 1991 年 6 月 就讀於密歇根大學，並獲得機械製造專業碩士及博士學位。陳先生亦於 1998 年 5 月獲得密歇 根州立大學工商管理碩士學位。陳先生曾獲得上海市優秀企業家榮譽稱號、中國汽車產業紀 念改革開放 40 周年傑出人物等多項殊榮。 除上文所披露外，陳先生於過去三年概無在其證券於香港或任何海外證券市場上 ...

Core Viewpoint - XPeng, a Chinese electric vehicle manufacturer, has forecasted fourth-quarter revenue that falls below market estimates due to a prolonged price war and increasing competition in the automotive sector in China, the largest auto market in the world [1] Company Summary - XPeng's revenue forecast for the fourth quarter is lower than expected, indicating potential challenges ahead [1] - The company is facing significant pressure from ongoing price wars, which are impacting its financial outlook [1] - Intensifying competition within the electric vehicle market in China is contributing to the company's cautious revenue projections [1] Industry Summary - The electric vehicle market in China is experiencing a price war, which is affecting multiple manufacturers and altering market dynamics [1] - Competition in the automotive sector is intensifying, posing risks to revenue growth for companies like XPeng [1] - The overall outlook for the automotive market in China remains uncertain due to these competitive pressures [1]

北京商报讯（记者 刘晓梦）11月17日，小鹏汽车发布财报显示，今年三季度营收达203.8亿元，同比增 长101.8%；毛利率达20.1%，同比提升4.8个百分点；汽车毛利率达13.1%，同比提升4.5个百分点；净亏 损为3.8亿元，去年同期为18.1亿元。 ...