Core Viewpoint - XPeng Inc. has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC, highlighting its ongoing commitment to transparency and investor relations [1]. Company Overview - XPeng is a leading Chinese Smart EV company focused on designing, developing, manufacturing, and marketing Smart EVs for technology-savvy middle-class consumers [3]. - The company's mission is to drive Smart EV transformation through technology, enhancing the future mobility experience [3]. - XPeng develops its full-stack advanced driver-assistance system technology and in-car intelligent operating system in-house, along with core vehicle systems such as powertrain and electrical/electronic architecture [3]. - The company is headquartered in Guangzhou, China, with additional offices in major cities including Beijing, Shanghai, Shenzhen, Silicon Valley, and San Diego [3]. - Manufacturing of XPeng's Smart EVs primarily occurs at its plants located in Zhaoqing and Guangzhou, Guangdong province [3]. Investor Relations - XPeng offers a hard copy of its annual report free of charge to shareholders and ADS holders upon request, demonstrating its commitment to investor engagement [2]. - Requests for the annual report can be directed to the company's Investor Relations Department via email or physical address [2]. Contact Information - For investor inquiries, XPeng's IR Department can be contacted via email [4]. - Media inquiries can be directed to the PR Department of XPeng [4].

Core Insights - XPENG has officially launched in the Polish market, showcasing its electric vehicles and marking a significant step in its European expansion strategy [1][3][4] Company Overview - XPENG is a leading manufacturer of AI-defined intelligent electric vehicles, focusing on autonomous driving technologies and advanced powertrain solutions [3][21] - The company aims to become a global leader in AI mobility, with a mission to drive the Smart EV revolution through cutting-edge technology [21] Product Launch - The launch event featured three electric vehicle models: the flagship G9 SUV, the G6 coupe SUV, and the P7 sedan, all of which have received a Euro NCAP 5-star safety rating [1][4] - The XPENG X2, a fully electric eVTOL flying car, was also unveiled, indicating XPENG's ambition in the air mobility sector [19] Distribution and Market Strategy - Inchcape has been appointed as the exclusive distributor for XPENG vehicles in Poland, leveraging its 20 years of experience in the Polish automotive industry [8][9] - The first showroom in Warsaw has opened, with plans for additional locations starting from April 2025 [10] Technological Innovations - XPENG's SEPA 2.0 platform enhances manufacturing efficiency and charging capabilities, featuring 800V fast-charging technology [11] - The CIB technology integrates the battery into the vehicle's body structure, improving chassis rigidity and reducing weight [11] Vehicle Specifications - The XPENG G9 offers up to 570 km range, 551 hp, and accelerates from 0 to 100 km/h in 3.9 seconds [12] - The XPENG G6 provides a range of up to 570 km, 476 hp, and accelerates to 100 km/h in 4 seconds [14] - The XPENG P7 has a range of up to 576 km, with the AWD version delivering 473 hp and a 0-100 km/h time of 4.1 seconds [16] Customer Assurance - All XPENG models come with a 7-year warranty, free Over the Air Updates (OTA), and are part of the NaszEauto subsidy program [17]

Core Insights - XPeng Inc. reported a significant increase in vehicle deliveries, with March 2025 deliveries reaching 33,205 Smart EVs, a 268% year-over-year increase, and first-quarter deliveries totaling 94,008 units, representing a 331% increase compared to the same period last year [2][6] Group 1: Delivery Performance - In March 2025, XPeng delivered 33,205 Smart EVs, marking a 268% increase year-over-year [2] - For the first quarter of 2025, XPeng delivered 94,008 Smart EVs, which is a 331% increase compared to the same period last year [2] - XPeng has surpassed 30,000 units in monthly deliveries for five consecutive months [2][6] Group 2: Product Launch and Features - On March 13, 2025, XPeng launched the 2025 versions of the XPENG G6 and XPENG G9, both equipped with 5C AI batteries and Turing AI-powered smart driving features across all trims [2] - The company focuses on developing in-house advanced driver-assistance system technology and intelligent operating systems to enhance customer mobility experience [4] Group 3: Market Expansion and User Engagement - XPENG's monthly active user penetration rate for its XNGP service in urban driving reached 86% in March 2025 [3] - The company expanded its global presence by entering the Indonesian market [3]

Financial Data and Key Metrics Changes - In Q4 2024, total revenues reached RMB19.7 billion, a 15.2% year-over-year increase and a 5.5% quarter-over-quarter increase [25] - Vehicle sales amounted to RMB17.5 billion, up 13.2% year-over-year and 4.7% quarter-over-quarter, driven by higher deliveries but partially offset by a lower average selling price [25] - Overall gross margin improved to 11.7%, up from 7.5% in Q4 last year and 10.7% last quarter [28] - Net loss was RMB7.1 billion, an increase of 32.5% year-over-year and 40.6% quarter-over-quarter [31] Business Line Data and Key Metrics Changes - The NIO brand delivered 201,209 vehicles, securing a 40% market share in China's BEV segment priced above RMB300,000 [7] - The ONVO brand delivered 20,761 vehicles, with its market share steadily increasing since its launch [8] - Vehicle margin improved to 14.9% for NIO in Q4, while ONVO achieved a positive vehicle margin in its early production stage [9] Market Data and Key Metrics Changes - NIO's total deliveries for 2024 reached 221,970, marking a 38.7% increase year-over-year [7] - The company expects total deliveries in Q1 2025 to reach 41,000 to 43,000 units, reflecting a year-over-year growth of 36% to 43% [9] Company Strategy and Development Direction - NIO is entering a new product cycle with three smart EV brands, focusing on expanding its product lineup and enhancing profitability [10][12] - The company aims to achieve breakeven by Q4 2025 through cost reduction initiatives and improved operational efficiency [38] - NIO is committed to expanding its global footprint and enhancing its sales and service networks [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating competition and achieving full-year operating targets despite challenges [24] - The company is enhancing brand awareness for ONVO and ramping up its sales store coverage to regain growth momentum [42][45] - Management highlighted the importance of AI technology in improving product experience and operational efficiency [87] Other Important Information - NIO's ESG rating was upgraded from A to AA by MSCI, and it was ranked as the number one car company in the 2025 Global 100 most sustainable companies by Corporate Knights [22] - The company has deployed 3,245 power swap stations worldwide, with over 69 million swaps conducted [19] Q&A Session Summary Question: Cost reduction efforts and expected savings - Management indicated ongoing cost reduction initiatives and expects vehicle margin to continue growing starting Q2 2025 [35][36] Question: ONVO's growth momentum - Management acknowledged ONVO's sales performance did not meet expectations and outlined strategies to improve brand awareness and sales coverage [42][45] Question: Gross margin and volume guidance - Management expects Q1 vehicle margin to be under pressure but aims for breakeven by Q4 2025, with a target vehicle margin of 20% for NIO and 15% for ONVO [64][65] Question: Cash position and potential financing - Management confirmed a cash position of RMB49.1 billion and emphasized prudent cash flow management while exploring various fundraising options [101][103] Question: Autonomous driving technology plan - Management confirmed the rollout of end-to-end solutions for active safety features and plans to use in-house developed chips for future models [112][113]