XPENG-W's stock price plummeted 5.06% during intraday trading on Wednesday, reflecting significant market pressure.

The sharp decline follows the departure of Shi Xiaoxin, the Senior Director of humanoid robot product planning, who was a core figure in the development of the IRON humanoid robot. His exit comes at a critical time ahead of the robot's year-end mass production target, raising investor concerns about potential delays, though the company stated the product remains on schedule.

Further weighing on sentiment were the company's first-quarter results, which showed a swing from profit to a net loss of RMB 1.78 billion. Revenue declined 17.6% year-over-year to RMB 13.03 billion, while vehicle deliveries fell 33.3%. A significant 46.8% surge in R&D spending to RMB 2.91 billion also compressed margins. Additionally, the stock faced pressure from emerging product quality concerns related to online reports of a vehicle fire and an accelerator malfunction complaint.