Core Viewpoint - Xiaopeng Motors is expected to report significant growth in Q4 2025, with revenue forecasts ranging from 21.734 to 34.034 billion RMB, representing a year-on-year increase of 35.0% to 111.3% [1][7]. Financial Performance Expectations - Q4 revenue is projected between 21.734 billion and 34.034 billion RMB, with a year-on-year growth of 35.0% to 111.3% [1][7]. - Net profit is anticipated to range from -0.62 billion to 1.643 billion RMB, showing a year-on-year increase of 95.3% to 223.5% [1][7]. - Adjusted net profit is expected to be 0.94 billion RMB, reflecting a year-on-year change of 106.8% [1][7]. Analyst Predictions - The average revenue forecast is 25.236 billion RMB, indicating a 56.7% year-on-year growth [3][8]. - The median revenue forecast stands at 23.659 billion RMB, with a year-on-year increase of 46.9% [3][8]. - Various securities firms have provided differing estimates, with Dongwu Securities predicting 24.034 billion RMB in revenue and a net profit of 1.23 billion RMB [3][8]. Business Strategy and Developments - Xiaopeng Motors plans to launch seven new models in 2026, covering both pure electric and extended-range vehicles, marking a new phase in the C-end smart vehicle sector [5][10]. - The Robotaxi project is expected to commence trial operations in late 2026, potentially transforming the trillion-yuan mobility market [12][10]. - A deepened collaboration with Volkswagen is anticipated, with plans to jointly launch two full-size electric models in 2026 [13][10]. - The IRON robot is set to enter mass production and will be piloted in commercial service scenarios, showcasing the company's capabilities in the smart robotics field [13][10]. - The A868 flying car has entered the testing phase, with global deliveries planned for the second half of 2026 [14][10]. Recent Performance Highlights - In Q3 2025, Xiaopeng Motors achieved a revenue of 20.38 billion RMB, a year-on-year increase of 101.8%, with a gross margin of 20.1% [6][14]. - The company expects to achieve profitability in Q4, with an adjusted net loss reduced to 1.5 billion RMB [6][14]. - The automotive segment reported a revenue of 18.05 billion RMB, with a record delivery of 116,000 units [6][14]. - Overseas deliveries increased by 125%, with local production capabilities established in Austria and Indonesia [6][14].
小鹏汽车-W：出海增程新阶段，预测Q4一致预期营收217.34~340.34亿元，同比35.0%~111.3%