XPENG Data Constructive Web Revenue In 4th Quarter

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• The Firm achieved a optimistic internet revenue of RMB0.38 billion within the fourth quarter of 2025, recorded a optimistic internet revenue for a single quarter for the primary time.
• Money place^[i] was RMB47.66 billion (US$6.81 billion) as of December 31, 2025
• Quarterly complete revenues have been RMB22.25 billion, a 38.2% improve year-over-year
• Quarterly gross margin was 21.3%, a rise of 6.9 share factors over the identical interval of 2024
• Quarterly automobile margin was 13.0%, a rise of three.0 share factors over the identical interval of 2024
• Full 12 months automobile deliveries reached 429,445, a 125.9% improve year-over-year
• Full 12 months revenues reached RMB76.72 billion, an 87.7% improve year-over-year
• Full 12 months gross margin was 18.9%, a rise of 4.6 share factors year-over-year

XPeng Inc. (“XPENG” or the “Firm,” NYSE: XPEV and HKEX: 9868), a number one international AI mobility know-how firm, right this moment introduced its unaudited monetary outcomes for the three months and monetary 12 months ended December 31, 2025.

• XPENG’s bodily gross sales community had a complete of 721 shops, protecting 255 cities as of December 31, 2025.
• XPENG self-operated charging station community reached 3,159 stations, together with 2,108 XPENG ultra-fast charging stations as of December 31, 2025.
• Complete revenues have been RMB22.25 billion (US$3.18 billion) for the fourth quarter of 2025, representing a rise of 38.2% from the identical interval of 2024, and a rise of 9.2% from the third quarter of 2025.
• Revenues from automobile gross sales have been RMB19.07 billion (US$2.73 billion) for the fourth quarter of 2025, representing a rise of 30.0% from the identical interval of 2024, and a rise of 5.6% from the third quarter of 2025.
• Gross margin was 21.3% for the fourth quarter of 2025, in contrast with 14.4% for a similar interval of 2024 and 20.1% for the third quarter of 2025.
• Automobile margin, which is gross revenue of car gross sales as a share of car gross sales income, was 13.0% for the fourth quarter of 2025, in contrast with 10.0% for a similar interval of 2024 and 13.1% for the third quarter of 2025.
• Web revenue was RMB0.38 billion (US$0.05 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.33 billion for a similar interval of 2024 and a lack of RMB0.38 billion for the third quarter of 2025. Excluding share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, non-GAAP internet revenue was RMB0.51 billion (US$0.07 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.39 billion for a similar interval of 2024 and a lack of RMB0.15 billion for the third quarter of 2025.
• Web revenue attributable to unusual shareholders of XPENG was RMB0.38 billion (US$0.05 billion) for the fourth quarter of 2025, in contrast a lack of with RMB1.33 billion for a similar interval of 2024 and a lack of RMB0.38 billion for the third quarter of 2025. Excluding share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, non-GAAP internet revenue attributable to unusual shareholders of XPENG was RMB0.51 billion (US$0.07 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.39 billion for a similar interval of 2024 and a lack of RMB0.15 billion for the third quarter of 2025.
• Primary and diluted internet revenue per American depositary share (ADS) have been each RMB0.40 (US$0.06) and fundamental and diluted internet revenue per unusual share have been each RMB0.20 (US$0.03) for the fourth quarter of 2025. Every ADS represents two Class A unusual shares.
• Non-GAAP fundamental and diluted internet revenue per ADS have been RMB0.53 (US$0.08) and RMB0.52 (US$0.07), respectively, and non-GAAP fundamental and diluted internet revenue per unusual share have been each RMB0.26 (US$0.04) for the fourth quarter of 2025.
• Money place was RMB47.66 billion (US$6.81 billion) as of December 31, 2025, in contrast with RMB41.96 billion as of December 31, 2024

Administration Commentary

“In 2025, XPENG delivered a complete of 429,445 automobiles, representing a 125.9% year-over-year improve. We proceed to push the boundaries of Bodily AI, accelerating the mass manufacturing and commercialization of product improvements as we broaden our international footprint,” stated Mr. Xiaopeng He, Chairman and CEO of XPENG. “I consider XPENG is at a historic inflection level for Bodily AI purposes. Our objective will not be solely to develop our international market share of AI-defined automobiles and bridge the hole from L2+ assisted driving to L4 autonomous driving, but in addition to convey our second-generation VLA mannequin to worldwide markets and obtain scale manufacturing of superior humanoid robots.”

“Within the fourth quarter of 2025, XPENG’s gross margin reached 21.3%, reaching a brand new file excessive, with internet revenue hitting RMB0.38 billion. By leveraging a enterprise mannequin pushed by technological management, we’ve established a profitability path that units us other than conventional automakers,” added Dr. Hongdi Brian Gu, Vice Chairman and Co-President of XPENG. “Our money available of RMB47.66 billion at 2025 year-end offers a strong basis for our unwavering funding in Bodily AI R&D.”

Current Developments

Deliveries in January and February 2026

• Complete deliveries have been 20,011 automobiles in January 2026.
• Complete deliveries have been 15,256 automobiles in February 2026.
• As of February 28, 2026, year-to-date complete deliveries have been 35,267 automobiles.

Deployment Progress and Technological breakthroughs of VLA 2.0 Clever Driving System

Throughout XPENG’s “The Future” VLA Media Expertise Day on March 2, 2026, the corporate unveiled the structure and deployment plan for its VLA 2.0 clever driving system.

Unaudited Monetary Outcomes for the Three Months Ended December 31, 2025

Complete revenues have been RMB22.25 billion (US$3.18 billion) for the fourth quarter of 2025, representing a rise of 38.2% from RMB16.11 billion for a similar interval of 2024 and a rise of 9.2% from RMB20.38 billion for the third quarter of 2025.

Revenues from automobile gross sales have been RMB19.07 billion (US$2.73 billion) for the fourth quarter of 2025, representing a rise of 30.0% from RMB14.67 billion for a similar interval of 2024, and a rise of 5.6% from RMB18.05 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter will increase have been primarily attributable to increased deliveries.

Revenues from companies and others have been RMB3.18 billion (US$0.45 billion) for the fourth quarter of 2025, representing a rise of 121.9% from RMB1.43 billion for a similar interval of 2024 and a rise of 36.7% from RMB2.33 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter will increase have been primarily attributable to the elevated revenues from (i) technical analysis and growth companies (“technical R&D companies“) rendered to a automobile producer (the “Producer“) with the profitable achievement of sure key milestones within the present quarter, beneath the settlement entered into with the Producer; (ii) elements and equipment gross sales in keeping with increased amassed automobile gross sales; and (iii) carbon credit score buying and selling.

Value of gross sales was RMB17.51 billion (US$2.50 billion) for the fourth quarter of 2025, representing a rise of 27.1% from RMB13.78 billion for a similar interval of 2024 and a rise of seven.6% from RMB16.28 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter will increase have been primarily in keeping with automobile deliveries as described above.

Gross margin was 21.3% for the fourth quarter of 2025, in contrast with 14.4% for a similar interval of 2024 and 20.1% for the third quarter of 2025.

Automobile margin was 13.0% for the fourth quarter of 2025, in contrast with 10.0% for a similar interval of 2024 and 13.1% for the third quarter of 2025. The year-over-year improve was primarily attributable to the continued value discount and enchancment in product mixture of fashions.

Providers and others margin was 70.8% for the fourth quarter of 2025, in contrast with 59.6% for a similar interval of 2024 and 74.6% for the third quarter of 2025. The year-over-year improve was primarily attributable to the aforementioned income from technical R&D companies, elements and equipment gross sales and carbon credit score buying and selling.

Analysis and growth bills have been RMB2.87 billion (US$0.41 billion) for the fourth quarter of 2025, representing a rise of 43.2% from RMB2.01 billion for a similar interval of 2024 and a rise of 18.3% from RMB2.43 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter will increase have been primarily attributable to increased bills associated to the event of recent automobile fashions and applied sciences because the Firm expanded its product portfolio to help future progress.

Promoting, common and administrative bills have been RMB2.79 billion (US$0.40 billion) for the fourth quarter of 2025, representing a rise of twenty-two.7% from RMB2.28 billion for a similar interval of 2024 and a rise of 12.0% from RMB2.49 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter will increase have been primarily as a result of increased fee to the franchised shops associated to gross sales quantity and the launch of recent fashions. The year-over-year improve was additional attributable to increased advertising and marketing and promoting bills.

Different earnings, internet was RMB0.84 billion (US$0.12 billion) for the fourth quarter of 2025, representing a rise of 327.5% from RMB0.20 billion for a similar interval of 2024 and a rise of 498.6% from RMB0.14 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter will increase have been primarily as a result of improve in receipt of presidency subsidies.

Honest worth acquire (loss) on spinoff legal responsibility referring to the contingent consideration was acquire of RMB0.04 billion (US$0.01 billion) for the fourth quarter of 2025, in contrast with acquire of RMB0.20 billion for a similar interval of 2024 and lack of RMB0.07 billion for the third quarter of 2025. This non-cash acquire (loss) resulted from the truthful worth change of the contingent consideration associated to the acquisition of DiDi World Inc. (“DiDi“)’s sensible auto enterprise.

Loss from operations was RMB0.04 billion (US$0.01 billion) for the fourth quarter of 2025, in contrast with RMB1.56 billion for a similar interval of 2024 and RMB0.75 billion for the third quarter of 2025.

Non-GAAP revenue from operations, which excludes share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, was RMB0.08 billion (US$0.01 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.62 billion for a similar interval of 2024 and a lack of RMB0.52 billion for the third quarter of 2025.

Web revenue was RMB0.38 billion (US$0.05 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.33 billion for a similar interval of 2024 and a lack of RMB0.38 billion for the third quarter of 2025.

Non-GAAP internet revenue, which excludes share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, was RMB0.51 billion (US$0.07 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.39 billion for a similar interval of 2024 and a lack of RMB0.15 billion for the third quarter of 2025.

Web revenue attributable to unusual shareholders of XPENG was RMB0.38 billion (US$0.05 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.33 billion for a similar interval of 2024 and a lack of RMB0.38 billion for the third quarter of 2025.

Non-GAAP internet revenue attributable to unusual shareholders of XPENG, which excludes share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, was RMB0.51 billion (US$0.07 billion) for the fourth quarter of 2025, in contrast with a lack of RMB1.39 billion for a similar interval of 2024 and a lack of RMB0.15 billion for the third quarter of 2025.

Primary and diluted internet revenue per ADS have been each RMB0.40 (US$0.06) for the fourth quarter of 2025, in contrast with RMB1.40 fundamental and diluted internet loss per ADS for the fourth quarter of 2024 and RMB0.40 fundamental and diluted internet loss per ADS for the third quarter of 2025.

Non-GAAP fundamental and diluted internet revenue per ADS have been RMB0.53 (US$0.08) and RMB0.52 (US$0.07) for the fourth quarter of 2025, respectively, in contrast with RMB1.47 non-GAAP fundamental and diluted internet loss per ADS for the fourth quarter of 2024 and RMB0.16 non-GAAP fundamental and diluted internet loss per ADS for the third quarter of 2025.

Stability Sheets

As of December 31, 2025, the Firm had money place of RMB47.66 billion (US$6.81 billion), in contrast with RMB41.96 billion as of December 31, 2024 and RMB48.33 billion as of September 30, 2025.

Unaudited Monetary Outcomes for the Fiscal 12 months Ended December 31, 2025

Complete revenues have been RMB76.72 billion (US$10.97 billion) for fiscal 12 months of 2025, representing a rise of 87.7% from RMB40.87 billion for the prior 12 months.

Revenues from automobile gross sales have been RMB68.38 billion (US$9.78 billion) for fiscal 12 months of 2025, representing a rise of 90.8% from RMB35.83 billion for the prior 12 months. The year-over-year improve was primarily attributable to increased deliveries.

Revenues from companies and others have been RMB8.34 billion (US$1.19 billion) for fiscal 12 months of 2025, representing a rise of 65.6% from RMB5.04 billion for the prior 12 months. The year-over-year improve was primarily attributable to the elevated revenues from (i) technical R&D companies rendered to the Producer with the profitable achievement of sure key milestones within the present interval, beneath the settlement entered into with the Producer; (ii) elements and equipment gross sales in keeping with increased amassed automobile gross sales; and (iii) carbon credit score buying and selling.

Value of gross sales was RMB62.25 billion (US$8.9 billion) for fiscal 12 months of 2025, representing a rise of 77.7% from RMB35.02 billion for the prior 12 months. The year-over-year improve was primarily in keeping with automobile deliveries as described above.

Gross margin was 18.9% for fiscal 12 months of 2025, in contrast with 14.3% for the prior 12 months.

Automobile margin was 12.8% for fiscal 12 months of 2025, in contrast with 8.3% for the prior 12 months. The year-over-year improve was primarily attributable to the continued value discount and enchancment in product mixture of fashions.

Providers and others margin was 68.2% for fiscal 12 months of 2025, in contrast with 57.2% for the prior 12 months. The year-over-year improve was primarily attributable to the aforementioned income from technical R&D companies, elements and equipment gross sales and carbon credit score buying and selling.

Analysis and growth bills have been RMB9.49 billion (US$1.36 billion) for fiscal 12 months of 2025, representing a rise of 47.0% from RMB6.46 billion for the prior 12 months. The year-over-year improve was primarily attributable to increased bills associated to the event of recent automobile fashions and applied sciences because the Firm expanded its product portfolio to help future progress.

Promoting, common and administrative bills have been RMB9.40 billion (US$1.34 billion) for fiscal 12 months of 2025, representing a rise of 36.8% from RMB6.87 billion for the prior 12 months. The year-over-year improve was primarily as a result of increased fee to the franchised shops pushed by increased gross sales quantity, increased advertising and marketing and promoting bills and better worker compensation on account of the expansion in variety of staff.

Different earnings, internet was RMB1.76 billion (US$0.25 billion) for fiscal 12 months of 2025, representing a rise of 198.9% from RMB0.59 billion for the prior 12 months. The year-over-year improve was primarily as a result of improve in receipt of presidency subsidies.

Honest worth acquire (loss) on spinoff legal responsibility referring to the contingent consideration was lack of RMB0.12 billion (US$0.02 billion) for fiscal 12 months of 2025, in contrast with acquire of RMB0.23 billion for the prior 12 months. This non-cash acquire (loss) resulted from the truthful worth change of the contingent consideration associated to the acquisition of DiDi World Inc. (“DiDi“)’s sensible auto enterprise.

Loss from operations was RMB2.77 billion (US$0.40 billion) for fiscal 12 months of 2025, in contrast with RMB6.66 billion for the prior 12 months.

Non-GAAP loss from operations, which excludes share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, was RMB2.09 billion (US$0.30 billion) for fiscal 12 months of 2025, in contrast with RMB6.42 billion for the prior 12 months.

Web loss was RMB1.14 billion (US$0.16 billion) for fiscal 12 months of 2025, in contrast with RMB5.79 billion for the prior 12 months.

Non-GAAP internet loss, which excludes share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, was RMB0.46 billion (US$0.07 billion) for fiscal 12 months of 2025, in contrast with RMB5.55 billion for the prior 12 months.

Web loss attributable to unusual shareholders of XPENG was RMB1.14 billion (US$0.16 billion) for fiscal 12 months of 2025, in contrast with RMB5.79 billion for the prior 12 months.

Non-GAAP internet loss attributable to unusual shareholders of XPENG, which excludes share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, was RMB0.46 billion (US$0.07 billion) for fiscal 12 months of 2025, in contrast with RMB5.55 billion for the prior 12 months.

Primary and diluted internet loss per ADS have been each RMB1.20 (US$0.17) for fiscal 12 months of 2025, in contrast with RMB6.12 for the prior 12 months.

Non-GAAP fundamental and diluted internet loss per ADS have been each RMB0.48 (US$0.07) for fiscal 12 months of 2025, in contrast with RMB5.87 for the prior 12 months.

Enterprise Outlook

For the primary quarter of 2026, the Firm expects:

• Deliveries of automobiles to be between 61,000 and 66,000, representing a year-over-year lower of roughly 29.79% to 35.11%.
• Complete revenues to be between RMB12.20 billion and RMB13.28 billion, representing a year-over-year lower of roughly 16.01% to 22.84%.

The above outlook is predicated on the present market situations and displays the Firm’s preliminary estimates of market and working situations, and buyer demand, that are all topic to alter.

Convention Name

The Firm’s administration will host an earnings convention name at 8:00 AM U.S. Japanese Time on March 20, 2026 (8:00 PM Beijing/Hong Kong Time on March 20, 2026).

For individuals who want to be part of the decision by cellphone, please entry the hyperlink offered beneath to finish the pre-registration course of and dial in 5 minutes previous to the scheduled name begin time. Upon registration, every participant will obtain dial-in particulars to hitch the convention name.

Occasion Title: XPENG Fourth Quarter and Fiscal 12 months 2025 Earnings Convention Name
Pre-registration hyperlink: https://s1.c-conf.com/diamondpass/10052981-bng765.html

Moreover, a stay and archived webcast of the convention name will probably be accessible on the Firm’s investor relations web site at http://ir.xiaopeng.com.

A replay of the convention name will probably be accessible roughly an hour after the conclusion of the decision till March 27, 2026, by dialing the next phone numbers:

About XPENG

XPENG is a number one Chinese language Good EV firm that designs, develops, manufactures, and markets Good EVs that enchantment to the massive and rising base of technology-savvy middle-class shoppers. Its mission is to turn into a sensible know-how firm trusted and liked by customers worldwide. With the intention to optimize its clients’ mobility expertise, XPENG develops in-house its full-stack superior driver-assistance system know-how and in-car clever working system, in addition to core automobile programs together with powertrain and {the electrical}/digital structure. XPENG is headquartered in Guangzhou, China, with principal workplaces in Beijing, Shanghai, Shenzhen, Silicon Valley and San Diego. The Firm’s Good EVs are primarily manufactured at its crops in Zhaoqing and Guangzhou, Guangdong province. For extra data, please go to https://www.xpeng.com/.

Use of Non-GAAP Monetary Measures

The Firm makes use of non-GAAP measures, reminiscent of non-GAAP (loss) revenue from operations, non-GAAP internet (loss) revenue, non-GAAP internet (loss) revenue attributable to unusual shareholders, non-GAAP fundamental (loss) revenue per weighted common variety of unusual shares and non-GAAP fundamental (loss) revenue per ADS, in evaluating its working outcomes and for monetary and operational decision-making functions. By excluding the affect of share-based compensation bills and truthful worth (acquire) loss on spinoff legal responsibility referring to the contingent consideration, the Firm believes that the non-GAAP monetary measures assist determine underlying tendencies in its enterprise and improve the general understanding of the Firm’s previous efficiency and future prospects. The Firm additionally believes that the non-GAAP monetary measures enable for better visibility with respect to key metrics utilized by the Firm’s administration in its monetary and operational decision-making. The non-GAAP monetary measures aren’t introduced in accordance with U.S. GAAP and could also be totally different from non-GAAP strategies of accounting and reporting utilized by different corporations. The non-GAAP monetary measures have limitations as analytical instruments and when assessing the Firm’s working efficiency, buyers shouldn’t contemplate them in isolation, or as an alternative choice to internet (loss) revenue or different consolidated statements of complete (loss) revenue knowledge ready in accordance with U.S. GAAP. The Firm encourages buyers and others to overview its monetary data in its entirety and never depend on a single monetary measure. The Firm mitigates these limitations by reconciling the non-GAAP monetary measures to probably the most comparable U.S. GAAP efficiency measures, all of which must be thought-about when evaluating the Firm’s efficiency.

For extra data on the non-GAAP monetary measures, please see the desk captioned “Unaudited Reconciliations of GAAP and non-GAAP Outcomes” set forth on this announcement.

Change Price Data

This announcement incorporates translations of sure RMB quantities into U.S. {dollars} at a specified charge solely for the comfort of the reader. Until in any other case famous, all translations from RMB to U.S. {dollars} and from U.S. {dollars} to RMB are made at a charge of RMB6.9931 to US$1.00, the change charge on December 31, 2025, set forth within the H.10 statistical launch of the Federal Reserve Board. The Firm makes no illustration that the RMB or U.S. {dollars} quantities referred might be transformed into U.S. {dollars} or RMB, because the case could also be, at any explicit charge or in any respect.

Protected Harbor Assertion

This announcement incorporates forward-looking statements. These statements are made beneath the “protected harbor” provisions of the USA Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology reminiscent of “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Statements that aren’t historic info, together with statements about XPENG’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A lot of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: XPENG’s objective and techniques; XPENG’s growth plans; XPENG’s future enterprise growth, monetary situation and outcomes of operations; the tendencies in, and dimension of, China’s EV market; XPENG’s expectations concerning demand for, and market acceptance of, its services; XPENG’s expectations concerning its relationships with clients, suppliers, third-party service suppliers, strategic companions and different stakeholders; common financial and enterprise situations; and assumptions underlying or associated to any of the foregoing. Additional data concerning these and different dangers is included in XPENG’s filings with the USA Securities and Change Fee. All data offered on this announcement is as of the date of this announcement, and XPENG doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.