XPENG(US:XPEV) 中国基金报·2025-11-17 13:08Core Viewpoint - Both Leap Motor and Xpeng Motors reported their strongest Q3 results in history, with significant revenue growth and improvements in profitability [2]. Group 1: Leap Motor Performance - In Q3 2025, Leap Motor achieved a revenue of 19.45 billion, a year-on-year increase of 97.3% [2]. - Leap Motor reported a net profit of 150 million in Q3 2025, marking its second consecutive quarter of profitability [4][5]. - The company’s vehicle sales reached 173,900 units in Q3 2025, a year-on-year growth of 101.77% [11]. - Leap Motor's gross margin improved to 14.5% in Q3 2025, up from 8.1% in Q3 2024 [12]. - The company anticipates total sales for 2025 to exceed 600,000 units, having already surpassed its initial target of 500,000 units by mid-November [13]. Group 2: Xpeng Motors Performance - Xpeng Motors reported a revenue of 20.38 billion in Q3 2025, reflecting a year-on-year increase of 101.8% [23]. - The net loss for Xpeng Motors in Q3 2025 was 380 million, a decrease from 480 million in Q2 2025 and 1.81 billion in Q3 2024 [16][23]. - Xpeng's vehicle deliveries reached 116,000 units in Q3 2025, a year-on-year increase of 149.3% [17]. - The company’s gross margin reached a record high of 20.1% in Q3 2025, up 4.8 percentage points year-on-year [22]. - Xpeng Motors has set a delivery guidance of 125,000 to 132,000 units for Q4 2025, indicating a year-on-year growth of 36.6% to 44.3% [22].