XPeng Inc.

Hello, ladies and gentlemen. Thank you for standing by for the third quarter 2025 earnings conference call for Xpeng Inc. At this time, all participants are in listen-only mode. After management's remarks, there will be a question and answer session. Today's conference call is being recorded. I will now turn the call over to your host, Mr. Alex Shea, head of investor relations and capital markets of the company. Please go ahead, Alex.

Thank you. Hello, everyone, and welcome to EXPO's third quarter 2025 earnings conference call. Our financial and operating results were issued by Newswire Service earlier today and available online. You can also view the earnings press release by visiting the IR section of our website at ir.xiaopeng.com. Participants on today's call from our management team will include co-founder, chairman, and CEO, Mr. He Xiaopeng, vice chairman and president, Dr. Brian Wu, Vice President of Corporate Finance and VW Projects, Mr. Charles Zhang, Vice President of Finance and Accounting, Mr. James Wu, and myself. Management will begin with prepared remarks. The call will conclude with a Q&A session. A webcast replay of this conference call will be available on the IR section of our website. Before we continue, please know that today's discussion will contain full-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Four looking statements involve inherent risks and certainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the relevant public filings of the company as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that EXPON's earnings press release and this conference call includes disclosure of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. EXPON's earnings press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures. I will now turn the call over to our co-founder, chairman, and CEO, Mr. He Xiaopeng.

Please go ahead. Hello, everyone. Hello, everyone. After the launch of the new Xiaopeng P7, it quickly reached $200,000 to $300,000. Pure electricity is one of the top three, leading us to $40,000 from the beginning of September. In the third quarter, the company's comprehensive profit broke 20% for the first time, and the loss was further shortened. Our goal is to achieve a profit-loss balance in the fourth quarter. In Q3 2025, Xpeng reported record results in key operating metrics with new highs in deliveries, revenue, gross margin, and cash reserves.