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XPENG based on Guangzhou-one from several Chinese electric vehicles that began to expand abroad.
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The Chinese XPENG electric car manufacturer saw its shares in Hong Kong more than 10% after optimistic profit and a higher alleged income forecast for the second quarter.
Its shares increased to $ 10.2% to $ 85.5 ($ 10.86), and they were 7% higher, making profit per year up to 78%.
Profit from the first quarter on the basis of Guangzhou has doubled twice compared to a year earlier, caused by reliable sale.
XPENG said he put 94 008 vehicles in the first three months of this year, which is more than four times the sales a year earlier.
This improved the top line helped to narrow down a clean loss for the first quarter to 664 million yuan compared to 1.37 billion yuan a year ago and raised its gross profitability up to 15.6% a quarter a year earlier.
The company is a key player in the Chinese Hyper -Congrata market EV, but struggles for profit against the background of rising competition and sluggish domestic demand.
Analysts are widely expected that XPENG is likely to become profitable in the fourth quarter of this year, thanks to the strong sales and pipeline of new models.
The company launched several new products, including Brand Mass-Market Mona last August and Updated flagship model X9with the participation of the advanced autonomous control system.
The carmaker said he seeks to start the mass production of vehicles equipped with autonomous levels 3 in China by the end of the year, a significant update with more common level systems.
In the second quarter, XPENG said he expects a profit from 17.5 billion yuan to 18.7 billion yuan compared to the consensus forecast of 17.2 billion yuan, LSEG reports.
The second quarter is expected to deliver 102,000 and 108,000 electric cars – the jump is approximately 237.7% to 257.5% compared to a year earlier.
This optimistic outlook raised the mood of investors, sending shares listed by XPeng, 13% higher to close $ 22.25, providing a collection with more than 88%. However, in November 2020 it was recorded more than $ 72 apiece, according to LSEG.
Baid’s opponent saw the shares in Hong Kong, which grows by 74%so far, Li Auto grew by more than 22%, and Nio lost more than 11%.
– Arjun Harpal CNBC contributed to this story.
