Gross profit margin 20.6% R&D investment increased by 46.8% year-on-year Xiaopeng Group's first quarter 2026 financial report

On May 28, Xpeng Group announced its financial data for the first quarter ended March 31, 2026. The total delivery of Xpeng vehicles in the first quarter of 2026 was 62,682 units. Total revenue in the first quarter was RMB 13.03 billion. Among them, automobile sales revenue was RMB 110 billion, and service and other income was RMB 2.03 billion, an increase of 41.2% year-on-year. The company's gross profit margin was 20.6%, up 5.0 percentage points from the first quarter of 2025. As of March 31, 2026, cash on hand was RMB 42.09 billion. On May 18, Xiaopeng's first full-stack self-developed pre-loading Robotaxi was officially launched in Guangzhou. The Xiaopeng GX (parameter | inquiry) is a full-stack self-developed L4-level Robotaxi, which adopts a pure visual solution, is equipped with a self-developed second-generation VLA physical world model, and is equipped with 4 self-developed Turing AI chips, with a hashrate of 3000 tops. At present, the GX fleet has conducted open road L4 normalization tests in Guangzhou, and Xiaopeng Group plans to launch passenger carrying demonstration operation services in Guangzhou in the second half of 2026. The Xiaopeng Humanoid Robot Mass Production Base started construction in Guangtang Science and Technology Innovation City, Tianhe District, Guangzhou in February this year, covering an area of about 110,000 square meters, providing support for large-scale production of the whole chain. The goal is to achieve mass production of humanoid robots by the end of 2026, and it is expected to enter Xiaopeng's offline stores as a shopping guide in the first quarter of 2027. For the second quarter of 2026, the Xpeng Group expects total vehicle deliveries to range from 100,000 to 106,000 units, an increase of about 59.54% to 69.11% sequentially. Total revenue will range from RMB19.60 billion to RMB20.8 billion, with a month-on-month increase of about 50.38% to 59.59%.