Xpeng earnings: China locks down XPEV stock due to EV boom threat

Expang (XPEV) Preparing to report on Monday for the first quarter, with Neo (NIO) called, later Lee Auto (Lee) gave weak revenue and distribution guidelines.




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All three Chinese EV startups want to shudder TeslaIts dominance in the Chinese market for luxury electric vehicles (TSLA). They are also challenging the domestic EV and battery giant BYD (BYDDF) The world’s largest car market.

Factories and production have been shut down due to China’s strict lockdown against Kovid-19. What will be the production, delivery and financial outlook.


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Xpeng income

Guess: Analysts surveyed by Factset expect Xpeng to increase losses by 28 cents per ADR vs. 8 cents a year ago. Revenue jumped 139% year over year to $ 1.092 billion. But sales growth slowed to 303% profit in the previous quarter.

The result: Check again Monday morning.

XPEV stock

Shares of Xpeng fell 1.2% to 23.33 on the stock market today. Xpeng stock remains below a falling 50-day average and its relative strength line shows serious gaps.

Neo and Xpeng sank in early May after Li Auto joined the provisional list of Chinese companies ready for US delisting.

Xpeng EV sales slowed in April

China’s Xpeng previously reported that it delivered 34,561 electric vehicles or EVs in the first quarter, well above the forecast range of 159% year-on-year. The Xpeng Q1 surpassed its startup peers.

It also surpassed Nio and Li Auto in April, although March sales, compared to three EV stocks, fell sharply due to damage to the Covid Lockdown EV supply chain.

In early May, Lee Auto gave weak Q2 delivery guidance when its earnings outlook fell below the view.

Investors will be interested to hear the latest news of supply disruptions from Xpeng. They will want to hear more about the new EV and plans for international expansion.

Find Aparna Narayanan on Twitter @IBD_Aparna.

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