Core Viewpoint - Xiaopeng Motors has exceeded market expectations in vehicle deliveries and operating performance, showcasing strong growth in Q1 2025 with significant revenue and reduced losses [1][2][4]. Financial Performance - In Q1 2025, Xiaopeng Motors achieved revenue of 15.81 billion yuan, a year-on-year increase of 141.5% [2][4]. - The net loss attributable to shareholders was 660 million yuan, a reduction of 71 million yuan compared to the previous year [4]. - The automotive sales revenue was 14.37 billion yuan, reflecting a year-on-year growth of 159.2% [2]. Delivery and Growth - Xiaopeng Motors delivered 94,000 vehicles in Q1 2025, marking a year-on-year increase of 330.81% and a slight increase from 91,500 vehicles in Q4 2024 [3][4]. - The company expects Q2 2025 deliveries to exceed 102,000 vehicles, representing a year-on-year growth of 237.7% to 257.5% [5]. Profitability and Margins - The gross margin for Q1 2025 was 15.6%, an increase of 2.7 percentage points year-on-year [4]. - The automotive business gross margin was 10.5%, up from 5.5% in the same quarter last year [4]. Expansion and R&D - As of the end of March, Xiaopeng Motors had 690 physical sales outlets covering 223 cities and a self-operated charging station network of 2,115 stations [1][9]. - The company invested 19.81 billion yuan in R&D in Q1 2025, a year-on-year increase of 46.74% [9]. International Market Performance - Xiaopeng Motors led the new energy vehicle export market with 7,615 units in Q1 2025, achieving a year-on-year increase of 370% [9]. - The company ranked first in sales among new energy vehicle brands in several countries, including Singapore and Denmark [9]. Future Outlook - The CEO expressed optimism about the company's growth potential, citing new vehicle launches and international expansion as key drivers [7]. - Xiaopeng Motors plans to launch new models in collaboration with Volkswagen, with production expected to begin in early 2026 [10].