Xiaopeng Motors' stock price soared over 12%: company financial report and guidance were both better than expected.

Xiaopeng Motors' stock price soared in early trading on the US stock market, with an increase exceeding 12% at one point. The company announced on Wednesday that the first quarter adjusted net loss had significantly narrowed year-on-year, driven by a sharp increase in car deliveries and record high gross profit margins. According to the financial report, Xiaopeng Motors' first-quarter revenue was 15.81 billion yuan, compared to 6.55 billion yuan in the same period last year, representing a 141.5% year-on-year increase. The gross profit margin was recorded at 15.6%, exceeding expectations by over 1 percentage point and increasing by nearly 3 percentage points year-on-year. In addition, the company expects second-quarter deliveries to increase by at least 2.4 times year-on-year. Xiaopeng Motors' Chairman and CEO He Xiaopeng stated: "We are confident that not only will we achieve a growth target of more than doubling our sales volume this year, but the company will also turn profitable in the fourth quarter and achieve free cash flow for the whole year."