Xpeng (9868) narrowed its half-year net loss by 57 percent to 1.14 billion yuan (HK$1.24 billion), as revenue more than doubled and car deliveries nearly tripled from a year earlier.
Adjusted net loss for the Chinese electric vehicle maker was 811 million yuan in the period compared to 2.63 billion yuan 12 months ago, the company said.
Revenue jumped by 132.5 percent year-on-year to 34.1 billion yuan, of which revenue from vehicle sales soared 152.8 percent to 31.3 billion yuan.
Xpeng delivered nearly 200,000 units of vehicles in the first half of the year, up by 279 percent from the year prior. The EV maker expects vehicle sales to reach between 113,000 and 118,000 for the third quarter, representing a year-over-year increase of approximately 142.8 percent to 153.6 percent. Revenue for the September quarter is estimated to range from 19.6 billion yuan to 21 billion yuan, up by 94 to 107.9 percent.
Gross margin for the six months rose 3 percentage points to 16.5 percent.
It held 47.57 billion cash and cash equivalents as of the end of June and has secured 10 billion yuan in credit from China Citic Bank (0998).
