Stock Track | XPENG-W Plummets 5.14% Intraday Amid Widening Q1 Loss, Delivery Decline and Sector Headwinds

Stock Track06-03 15:06

XPENG-W (09868.HK) saw its shares plummet 5.14% during intraday trading on Wednesday, as the electric vehicle maker faced significant selling pressure.

The sharp decline follows the company's disappointing first-quarter results, which revealed a net loss that widened by 168.67% year-over-year to RMB 1.784 billion. Furthermore, quarterly vehicle deliveries fell 33.3% to 62,682 units, while total revenue declined 17.6% to RMB 13.03 billion, indicating fundamental operational challenges.

Adding to investor concerns are ongoing quality control disputes surrounding the XPeng G7 model, with over 100 complaints regarding paint peeling and rust issues surfacing on consumer platforms. The broader Hong Kong-listed auto sector also faced notable selling pressure, with peers like Li Auto and Leapmotor experiencing similar declines, as the industry grapples with intensifying competition, rising raw material costs, and a policy transition from full EV purchase tax exemption to a reduced 5% rate.

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