XPeng shares fall as weak outlook overshadows first quarterly profit

Xpeng Inc (NYSE:XPEV)'s US-listed shares fell nearly 5% in early trading on Friday, as a weaker near-term outlook overshadowed the company's first-ever quarterly profit. The Chinese electric vehicle maker reported a fourth-quarter net profit of RMB0.38 billion ($54.8 million), compared with a loss of RMB1.33 billion a year earlier and a loss in the prior quarter.