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XPeng's ADR Rockets 13%; Mgmt Reiterates Profitability in 4Q
Recommend 10 Positive 19 Negative 3 |
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XPENG-W's (09868.HK) (XPEV.US) ADR leaped by 13% to USD22.25. XPENG-W announced its quarterly results after the market closed yesterday (21st). The company's net loss narrowed to RMB660 million, compared to a loss of RMB1.37 billion in the same period last year. Its net loss per ordinary share was RMB0.35, while its net loss per ADS was RMB0.7. XPENG-W also recorded a non-GAAP net loss of RMB430 million, compared to RMB1.41 billion in the same period last year. Its 1Q revenue increased by over 1.4 times YoY to RMB15.81 billion, with vehicle sales revenue rising by 1.59 times YoY to RMB14.37 billion and revenues from services and others surging by 43.6% YoY to RMB1.44 billion. Its GPM during the period grew by 2.7 ppts YoY to 15.6%. In response to Morgan Stanley viewing XPENG-W's 2Q guidance as conservative, the management reaffirmed that the company's increased sales and GPM in 2H and its profitability in 4Q should boost market sentiment. AAStocks Financial News |
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