Xpeng’s U.S.-listed shares declined 3.5% in pre-market trading on Monday, dropping to $11.77, near the 52-week low of $11.49. The decline extended a 14% retreat from July’s peak, as investors weighed weak second-quarter results against a separate funding milestone in the company’s robotics division.
The Guangzhou-based automaker reported a net loss of RMB1.29 per share for the three months ended June 30, 2026, compared with a consensus estimate of RMB0.29 per share. Revenue totaled RMB19.74 billion, missing analyst expectations of RMB20.57 billion. While top-line growth accelerated 8% year-over-year and surged more than 51% from the first quarter, the headline figures underscored pressure on profitability.
Gross margin improved to 20.7% from 17.3% a year earlier, but vehicle margin remained constrained at 12.1%, reflecting competitive pricing in China’s electric vehicle market. The company’s broader financial performance contrasted with a separate announcement that its robotics unit had secured over $900 million in a private funding round, valuing the business at more than $6.3 billion.
IDG Capital led the financing, with participation from Tencent, Alibaba, and Gaorong Ventures. The round was described as the largest single private investment in China’s embodied AI sector to date. The robotics division’s progress follows XPeng’s strategic push to diversify beyond automotive manufacturing into AI-driven technologies.
U.S. equity futures pointed to a softer open, with the Nasdaq down 0.4%, the S&P 500 down 0.1%, and the Dow Jones down 0.05% in pre-market trading. The broader market backdrop added to pressure on growth-oriented equities such as XPeng.
XPeng’s stock has shed roughly 14% since its July peak, reflecting a broader correction in China’s EV sector amid regulatory scrutiny and margin challenges.
