XPENG-W announced its unaudited financial results for the first quarter of 2026. Total revenue was RMB 130.3 billion, representing a year-on-year decrease of 17.6% and a quarter-on-quarter decrease of 41.4%. Automotive sales revenue was RMB 110.0 billion, down 23.5% year-on-year and 42.3% quarter-on-quarter. The gross margin was 20.6%, an increase of 5.0 percentage points compared to the same period in 2025. The net loss was RMB 17.8 billion, widening by 168.7% year-on-year. Total vehicle deliveries for the quarter were 62,682 units, a decrease of 33.3% year-on-year. The company stated that the year-on-year and quarter-on-quarter declines in automotive sales revenue were primarily due to lower vehicle deliveries. Furthermore, research and development expenses for Q1 2026 were RMB 29.1 billion (USD 4.2 billion), a 46.8% increase from RMB 19.8 billion in the same period of 2025 and a 1.1% increase from RMB 28.7 billion in Q4 2025. The year-on-year increase was mainly attributed to expanded product portfolio investments to support future growth, along with increased costs related to the development of new vehicle models and AI-related technologies. "Starting with the successful launch of the GX model, XPeng has four new models scheduled for launch and delivery this year, and we are about to enter a strong sales growth trajectory," said Mr. He Xiaopeng, Chairman and CEO of XPENG. "I will lead the team to achieve mass production of Robotaxi and humanoid robots this year and cultivate a global commercial ecosystem, transforming our leading physical AI technology into new engines for revenue and profit growth." "In the first quarter of 2026, our gross margin exceeded 20%. Our self-developed technological innovations and rapidly growing international revenue have allowed us to maintain a robust gross margin even during the industry's off-season," stated Dr. Gu Hongdi, Vice Chairman and Co-President of XPENG. "We will accelerate the large-scale commercialization of physical AI applications as a top corporate strategic priority." For the second quarter of 2026, the company anticipates: Vehicle deliveries to be between 100,000 and 106,000 units, representing a year-on-year change of approximately -3.08% to +2.73% and a quarter-on-quarter increase of about 59.54% to 69.11%. Total revenue is expected to be between RMB 196.0 billion and RMB 208.0 billion, representing a year-on-year increase of approximately 7.25% to 13.82% and a quarter-on-quarter increase of about 50.38% to 59.59%.