Xpeng’s Hong Kong-listed shares plunged more than 12% Wednesday after the Chinese electric vehicle maker reported a wider-than-expected loss for the second quarter and weak guidance on deliveries.

On Tuesday, Xpeng reported a net loss of 2.7 billion Chinese yuan ($403.2 million), wider than the 1.6 billion yuan expected according to Refinitiv consensus estimates.

The Guangzhou, China-headquartered company also said it expects to deliver between 29,000 and 31,000 electric vehicles in the third quarter, representing a year-over-year increase of around 13% to 20.8%.

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