XPENG (XPENG, Financial) shares edged up about 3% in premarket trading Tuesday after the Chinese electric vehicle maker reported stronger-than-expected fourth-quarter results and offered an upbeat outlook.
The company delivered an adjusted loss performance at RMB0.73 per share, which was significantly lower than the expected RMB2.16 loss. The company achieved revenue growth of 23.4% yearly, reaching RMB16.11 billion and beating the forecasted RMB16.06 billion sum. Vehicles manufactured by XPENG reached 91,507 units in the quarter at a 52% yearly increase, with vehicle margins expanding from 4.1% to 10%.
Looking ahead, XPENG expects first-quarter 2025 deliveries to range between 91,000 and 93,000 vehicles, a growth of over 300% year over year, and forecasts revenue between RMB15 and RMB15.7 billion, outpacing analyst projections.
The firm ended 2024 with RMB41.96 billion in cash and equivalents and total annual deliveries of 190,068 vehicles, up 34% from 2023.
The results were praised by analysts, noting that the company remains focused on further technology-backed cost reductions and margin improvement to sustain performance.
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