The US stock market of Xiaopeng Automobile once rose by more than 21% with bright financial report data in the first quarter
[CNMO science and technology news] On the afternoon of May 21, Xiaopeng Auto released its first quarter financial report, which showed that Xiaopeng Auto's total revenue during the reporting period was 6.55 billion yuan, up 62.3% year on year and 49.8% month on month. Influenced by this news, the share price of Xiaopeng Auto rose all the way after the opening, with the highest increase of 26%. However, its share price began to fall back. As of the time of writing, the share price of Xiaopeng US stock was
Xiaopeng X9
It can be seen from the financial report that one of the reasons for the sharp increase of Xiaopeng's revenue this time is the sharp increase of Xiaopeng's revenue from auto services and other sectors. In the first quarter of 2024, Xiaopeng's auto service and other revenues were RMB1.0 billion, up 93.1% from RMB520 million in the same period of 2023, and 22.1% from RMB820 million in the fourth quarter of 2023. The growth of this part of revenue is mainly due to the technical R&D service income related to the platform and software strategic technical cooperation between Xiaopeng Automobile and Volkswagen Group.
Change of Xiaopeng US share price
On April 17 this year, Xiaopeng Automobile and Volkswagen Group announced the joint development of electronic and electrical architecture. According to the agreement, the platform will integrate the latest generation of electronic and electrical architecture based on central computing and domain controller of Xiaopeng Automobile. The jointly developed electronic and electrical architecture is expected to be applied to Volkswagen brand electric vehicles produced in China from 2026.
Xiaopeng Q1 Financial Report
In addition to the revenue from Volkswagen, the first quarter report of Xiaopeng Auto also revealed a bright spot - a significant increase in gross profit margin. The financial report shows that the gross profit rate of the company in the first quarter of 2024 will rise significantly to 12.9%, up 11.2 percentage points year-on-year and 6.7 percentage points month on month. The increase in gross profit margin is due to the continuous realization of Xiaopeng's technology on the one hand, and the gradual increase in sales of models with high gross profit on the other hand. Xiaopeng delivered 21821 vehicles in the first quarter of this year, up 19.7% from 18230 vehicles in the same period of 2023.
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(This article is from Mobile China)
