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XPeng Inc. reported strong growth for the fourth quarter and full year 2025, moving into profitability in Q4 while sharply narrowing annual losses. Q4 revenue reached RMB22.25 billion, up 38.2% year over year, with vehicle sales of RMB19.07 billion and total deliveries of 116,249 units.
Q4 gross margin improved to 21.3% and vehicle margin to 13.0%, driving a net profit of RMB0.38 billion versus losses in 2024 and the prior quarter. Non-GAAP net profit was RMB0.51 billion. For 2025, XPeng delivered 429,445 vehicles, a 125.9% increase, and lifted revenue to RMB76.72 billion, up 87.7%.
Full-year gross margin rose to 18.9% from 14.3%, while net loss narrowed to RMB1.14 billion from RMB5.79 billion, and non-GAAP net loss to RMB0.46 billion. The company continued heavy investment, with R&D at RMB9.49 billion and SG&A at RMB9.40 billion. Year-end cash and equivalents plus deposits totaled a cash position of RMB47.66 billion, and gearing ratio was 41.8%.
XPENG INC. director Yang Donghao filed an initial ownership report showing both direct shares and equity awards. He holds 9,072 Class A ordinary shares directly and has 27,216 Restricted Share Units (RSUs) granted under the 2019 Equity Incentive Plan, with a nil purchase price upon vesting.
According to the grant terms, the RSUs vest in three equal annual installments starting on July 12, 2024. One-third, or 9,072 RSUs, vested on July 12, 2025, and the remaining 18,144 RSUs are scheduled to vest in two equal annual installments on July 12, 2026 and July 12, 2027, subject to his continued service.
XPENG INC. Chairman & CEO He Xiaopeng filed an initial statement of beneficial ownership, detailing his equity interests in the company.
He holds 28,506,786 Restricted Share Units that can settle into the same number of Class A ordinary shares at nil purchase price, subject to performance and service conditions. The RSUs vest in three equal tranches if the 30‑day average closing price of the ordinary shares first reaches or exceeds HK$250, HK$500 and HK$750, respectively, before March 18, 2035, with continued employment required; any unvested RSUs lapse after that date.
The filing also lists direct holdings of Class A ordinary shares, indirect Class A and Class B ordinary share positions through Galaxy Dynasty Limited, Simplicity Holding Limited and Respect Holding Limited, and American Depositary Shares held through Simplicity Holding Limited and Galaxy Dynasty Limited. Each American Depositary Share represents two Class A ordinary shares.
XPENG INC. President Wang Fengying filed an initial ownership report showing both share and equity award positions. She directly holds 1,050,000 Class A ordinary shares and has 1,200,000 Restricted Share Units (RSUs) outstanding, each RSU representing one Class A ordinary share at a nil purchase price upon vesting.
The footnote explains she was granted 2,400,000 RSUs under the 2019 Equity Incentive Plan on March 24, 2023. These RSUs vest in four equal annual installments starting from April 1, 2023. A total of 1,200,000 RSUs vested in two equal installments on April 1, 2024 and April 1, 2025, and the remaining 1,200,000 RSUs are scheduled to vest in two equal annual installments on April 1, 2026 and April 1, 2027, subject to continued service and performance targets.
XPENG INC. vice president of finance and accounting, Wu Jiaming, filed an initial ownership report showing his equity position in the company. He directly holds 81,116 Class A ordinary shares and has 87,116 Restricted Share Units (RSUs) outstanding, each RSU convertible into one Class A share at no purchase price.
The footnote explains that 174,232 RSUs were granted on July 14, 2023 under the 2019 Equity Incentive Plan. These vest in four equal annual installments starting July 1, 2023. Two installments totaling 87,116 RSUs vested on July 1, 2024 and July 1, 2025, with the remaining 87,116 scheduled to vest on July 1, 2026 and July 1, 2027, subject to continued service and individual performance targets.
XPENG INC. director Zhang HongJiang filed an initial Form 3, which is a required statement of beneficial ownership for new insiders. The provided data show no reported transactions in XPENG shares and no listed derivative positions, indicating this is an administrative disclosure rather than a trading event.
XPeng Inc. has scheduled a board meeting on March 20, 2026 to review and approve its fourth-quarter 2025 and full-year 2025 results, along with their publication. On the same day, company management will host an earnings conference call at 8:00 a.m. U.S. Eastern time (8:00 p.m. Beijing/Hong Kong time) to discuss these results, with both live and archived webcasts available through its investor relations website.
XPeng Inc. reported vehicle delivery results for February 2026, with a total of 15,256 vehicles delivered during the month. This provides a snapshot of the company’s current sales activity in its smart electric vehicle lineup.
The company also began global deliveries of its new XPENG P7+ in February, with the initial shipment bound for 18 countries, aiming the intelligent, spacious sedan at young families worldwide. XPeng plans a media experience event in Guangzhou on March 2, 2026 to unveil its 2nd Gen VLA ahead of its official rollout later in March.
XPENG Inc. reported January 2026 vehicle deliveries of 20,011 units, highlighting continued demand for its smart electric vehicles. The company estimates these vehicles will cut life-cycle greenhouse gas emissions by over 300,000 tons, comparable to the carbon absorption of 4.94 million tree seedlings over 10 years.
The XPENG P7+ was launched across 36 countries and debuted in Europe at the 2026 Brussels Motor Show. As of December 31, 2025, XPENG’s global footprint reached 60 countries and regions, supported by 380 overseas physical stores, more than a 150% year-over-year increase, and a worldwide sales and service network exceeding 1,000 outlets.