On May 28, XPENG Group unveiled its financial results for the first quarter of 2026. The report revealed that the company's total revenue for the quarter stood at RMB 13.03 billion, reflecting a 17.6% decrease compared to the same period last year and a 41.4% drop from the previous quarter. Specifically, revenue from automotive sales amounted to RMB 11 billion, experiencing a 23.5% year-on-year decline and a 42.3% quarter-on-quarter decrease. In terms of gross profit margin, the first quarter saw a figure of 20.6%, surpassing the 15.6% recorded in the corresponding period of 2025, yet slightly lower than the 21.3% achieved in the fourth quarter of 2025. When it comes to profitability, the net loss for Q1 2026 was RMB 1.78 billion, in contrast to a loss of RMB 660 million in the same period of 2025. Notably, the company had reported a profit of RMB 380 million in the fourth quarter of 2025. As of March 31, 2026, XPENG Group held RMB 42.09 billion in cash reserves, a reduction from the RMB 47.66 billion on hand as of December 31, 2025.