On May 28, XPeng rose 5.17% in pre-market trading, trading at $17.50/share, with trading volume of $3.83 million. The rally was driven by a combination of Q1 earnings release and robust new vehicle order momentum.

XPeng reported Q1 revenue of 13 billion yuan with a gross margin of 20.6%. The company issued above-consensus Q2 guidance, projecting deliveries of 100,000 to 106,000 units and revenue of 19.6 billion to 20.8 billion yuan. Additionally, the XPeng GX flagship SUV, launched at a starting price of 269,800 yuan, recorded 24,863 firm orders within the first 12 hours, with the Ultra flagship version accounting for over 80% and pure EV orders exceeding half. The GX has commenced nationwide deliveries, with 20%-25% of orders coming from entirely new customers and store traffic surging 300%. Meanwhile, the MONA M03 new variant garnered over 12,500 orders in its first hour. The company also announced plans for humanoid robot mass production by year-end.

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