- Quarterly vehicle deliveries reached 17,398, a 439% increase
year-over-year
- Quarterly total revenues reached RMB3,761.3 million, a 536.7%
increase year-over-year
- Quarterly gross margin reached 11.9%
XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV
and HKEX: 9868), a leading Chinese smart electric vehicle
(“Smart EV”) company, today announced its unaudited
financial results for the three months ended June 30, 2021.
This press release features multimedia. View
the full release here:
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XPeng smart EV fleet (Photo: Business
Wire)
Operational and Financial Highlights
for the Three Months Ended June 30, 2021
- Deliveries of vehicles were 17,398 in the second quarter
of 2021, reaching a record quarterly high, and representing an
increase of 439% from 3,228 in the corresponding period of 2020 and
an increase of 30.4% from 13,340 in the first quarter of 2021.
- Deliveries of the P71 were 11,522 in the second quarter
of 2021, reaching a record quarterly high and representing an
increase of 44.5% from 7,974 in the first quarter of 2021.
- Among the total P7s delivered in the second quarter of 2021,
97% can support XPILOT 2.5 or XPILOT 3.0.
- As of June 30, 2021, XPeng’s physical sales and service network
consisted of a total of 200 stores and 64 service centers, covering
74 cities.
- As of June 30, 2021, XPeng-branded super charging stations
expanded to 231, covering 65 cities.
- Total revenues were RMB3,761.3 million (US$582.5
million) for the second quarter of 2021, representing an increase
of 536.7% from RMB590.8 million for the same period of 2020 and an
increase of 27.5% from RMB2,950.9 million for the first quarter of
2021.
- Revenues from vehicle sales were RMB3,584.4 million
(US$555.1 million) for the second quarter of 2021, representing an
increase of 562.4% from RMB541.1 million for the same period of
2020, and an increase of 27.5% from RMB2,810.3 million for the
first quarter of 2021.
- Gross margin was 11.9% for the second quarter of 2021,
compared with negative 2.7% for the same period of 2020 and 11.2%
for the first quarter of 2021.
- Vehicle margin, which is gross profit of vehicle sales
as a percentage of revenues from vehicle sales, was 11.0% for the
second quarter of 2021, compared with negative 5.6% for the same
period of 2020 and 10.1% for the first quarter of 2021.
- Net loss was RMB1,194.6 million (US$185.0 million) for
the second quarter of 2021, compared with RMB146.0 million for the
same period of 2020 and RMB786.6 million for the first quarter of
2021. Excluding share-based compensation expenses and fair value
change on derivative liabilities related to the redemption right of
preferred shares, non-GAAP net loss was RMB1,096.4 million
(US$169.8 million) in the second quarter of 2021, compared with
RMB769.5 million for the same period of 2020 and RMB696.3 million
for the first quarter of 2021.
- Net loss attributable to ordinary shareholders of XPeng
was RMB1,194.6 million (US$185.0 million) for the second quarter of
2021, compared with RMB1,141.5 million for the same period of 2020
and RMB786.6 million in the first quarter of 2021. Excluding
share-based compensation expenses, fair value change on derivative
liabilities related to the redemption right of preferred shares and
accretion on preferred shares to redemption value, non-GAAP net
loss attributable to ordinary shareholders of XPeng was RMB1,096.4
million (US$169.8 million) for the second quarter of 2021, compared
with RMB769.5 million for the same period of 2020 and RMB696.3
million for the first quarter of 2021.
- Basic and diluted net loss per American depositary share
(ADS) were both RMB1.50 (US$0.23) for the second quarter of
2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38
(US$0.21) for the second quarter of 2021. Each ADS represents two
Class A ordinary shares.
- Cash and cash equivalents, restricted cash, short-term
deposits, short-term investments and long-term deposits were
RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.
1 XPeng started mass delivery of the P7 in late June 2020.
“We delivered another record-breaking quarter with new highs
recorded in several key metrics, underscoring an accelerated growth
trajectory powered by our full-stack in-house technology
capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng.
“Notably, deliveries for the first half of 2021 exceeded the total
deliveries for the full year 2020, reaching 30,738, a 459% increase
year-over-year.”
“As EV adoption in China and around the world begins to soar, we
are excited to lead in this unprecedented disruption opportunity
with our outstanding vehicles and fast, seamless iterations of new
technologies that are shaping the mobility experience of the
future,” Mr. He added.
“Our outstanding second quarter 2021 results reflect XPeng’s
leadership in China’s booming Smart EV industry where we continue
to introduce innovative technology, differentiated products and
premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman
and President of XPeng. “Fueled by strong delivery performance, our
second quarter 2021 revenues grew 536.7% compared with the same
period of 2020. We also witnessed further improvement in our
profitability. In particular, our gross margin continued its upward
trend and reached 11.9% in the quarter,” Dr. Gu concluded.
Recent Developments
Dual-primary Listing in Hong Kong
On July 7, 2021 (the “Listing Date”), XPeng successfully
listed its Class A ordinary shares on the Main Board of The Stock
Exchange of Hong Kong Limited (the “Hong Kong Stock
Exchange”) (the “Listing”). The Company issued a total
of 97,083,300 Class A ordinary shares in the global offering. Net
proceeds from the global offering, after deducting underwriting
fees and commissions were approximately HK$15,823 million, which
will be used in accordance with the use of proceeds as disclosed in
the prospectus of the Company published on the website of the Hong
Kong Stock Exchange on June 25, 2021 (the “Prospectus”).
Since the Listing Date and as at the date of this announcement, the
Company has not utilized any net proceeds from the Listing.
Deliveries in July 2021
Total Smart EV deliveries of XPeng reached 8,040 in July 2021,
representing a 228% increase year- over-year. The July deliveries
consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s,
XPeng’s compact smart sport utility vehicle (“SUV”). As of
July 31, 2021, year-to-date deliveries reached 38,778, representing
a 388% increase year-over-year.
Launch of G3i
In July 2021, the Company launched the G3i SUV, the new
mid-cycle facelift version of the G3, with deliveries expected to
start in September this year. Incorporating the P7’s proven family
design language, coupled with a brand-new look, the G3i is equipped
with an intelligent in-car operating system and a powerful advanced
driver-assistance system.
The Pre-sales for P5
In July 2021, XPeng commenced pre-sales for its third
mass-produced model, the P5, XPeng’s smart family sedan, the
world’s first mass-produced light detection and ranging (LIDAR)
equipped Smart EV. The P5 will officially be launched in China in
September 2021 with deliveries starting in the fourth quarter of
2021. The P5 will be equipped with advanced driver-assistance
system features powered by XPeng’s full-stack in-house developed
XPILOT 3.5 advanced driver-assistance system, which extended the
Navigation Guided Pilot (NGP) function for highways and expressways
to include major urban roads, traffic intersections and other
complex city driving scenarios.
Release of Valet Parking Assist (VPA)
In June 2021, XPeng rolled out Valet Parking Assist, one of the
most advanced automated parking function in the Chinese market,
which memorizes locations and layouts of frequently used parking
spots and enables advanced driver-assistance system for such
parking lots.
Unaudited Financial Results For the
Three Months Ended June 30, 2021
Total revenues were RMB3,761.3 million (US$582.5 million)
for the second quarter of 2021, representing an increase of 536.7%
from RMB590.8 million for the same period of 2020 and an increase
of 27.5% from RMB2,950.9 million for the first quarter of 2021.
Revenues from vehicle sales were RMB3,584.4 million (US$555.1
million) for the second quarter of 2021, representing an increase
of 562.4% from RMB541.1 million for the same period of 2020 and an
increase of 27.5% from RMB2,810.3 million for the first quarter of
2021. The year-over-year increase was mainly due to higher vehicle
delivery especially for the P7, which started at the end of June
2020. The quarter-over-quarter increase was also attributable to
the higher P7 sales as a result of seasonality, channel expansion
and brand equity improvement.
Revenues from services and others were RMB176.9 million (US$27.4
million) for the second quarter of 2021, representing an increase
of 256.2% from RMB49.7 million for the same period of 2020 and an
increase of 25.8% from RMB140.6 million for the first quarter of
2021. The year-over-year and the quarter-over-quarter increases
were mainly attributed to more income from service, parts and
accessory sales in line with higher accumulated vehicle sales.
Cost of sales was RMB3,312.7 million (US$513.1 million)
for the second quarter of 2021, representing an increase of 445.7%
from RMB607.0 million for the same period of 2020 and an increase
of 26.4% from RMB2,621.1 million for the first quarter of 2021. The
year-over-year and the quarter-over-quarter increases were mainly
due to the increase of vehicle deliveries as described above.
Gross margin was 11.9% for the second quarter of 2021,
compared with negative 2.7% and 11.2% for the second quarter of
2020 and the first quarter of 2021, respectively.
Vehicle margin was 11.0% for the second quarter of 2021,
compared with negative 5.6% for the same period of 2020 and 10.1%
for the first quarter of 2021. The improvement was primarily
attributable to better product mix and material cost reduction.
Research and development expenses were RMB863.5 million
(US$133.7 million) for the second quarter of 2021, representing an
increase of 170.0% from RMB319.8 million for the same period of
2020 and an increase of 61.4% from RMB535.1 million for the first
quarter of 2021. The year-over-year and the quarter-over-quarter
increases were mainly due to (i) the increase in employee
compensation as a result of expanded research and development
staff, and (ii) higher expenses relating to the development of
vehicles and related software technologies.
Selling, general and administrative expenses were
RMB1,030.8 million (US$159.6 million) for the second quarter of
2021, representing an increase of 116.0% from RMB477.1 million for
the same period of 2020 and an increase of 43.0% from RMB720.8
million for the first quarter of 2021. The year-over-year and the
quarter-over-quarter increases were mainly due to (i) higher
marketing, promotional and advertising expenses to support vehicle
sales, and (ii) the expansion of our sales network and associated
personnel cost, and commission for franchised store sales.
Loss from operations was RMB1,443.2 million (US$223.5
million) for the second quarter of 2021, compared with RMB779.1
million for the same period of 2020 and RMB903.9 million for the
first quarter of 2021. The higher year-over-year and
quarter-over-quarter losses were mainly attributable to higher
operating expenses as described above.
Non-GAAP loss from operations, which excludes share-based
compensation expenses, was RMB1,345.0 million (US$208.3 million)
for the second quarter of 2021, compared with RMB779.1 million for
the same period of 2020 and RMB813.7 million for the first quarter
of 2021.
Net loss was RMB1,194.6 million (US$185.0 million) for
the second quarter of 2021, compared with RMB146.0 million for the
same period of 2020 and RMB786.6 million for the first quarter of
2021.
Non-GAAP net loss, which excludes share-based
compensation expenses and fair value change on derivative
liabilities related to the redemption right of preferred shares,
was RMB1,096.4 million (US$169.8 million) for the second quarter of
2021, compared with RMB769.5 million for the same period of 2020
and RMB696.3 million for the first quarter of 2021.
Net loss attributable to ordinary shareholders of XPeng
was RMB1,194.6 million (US$185.0 million) for the second quarter of
2021, compared with RMB1,141.5 million for the same period of 2020
and RMB786.6 million for the first quarter of 2021.
Non-GAAP net loss attributable to ordinary shareholders of
XPeng, which excludes share- based compensation expenses, fair
value change on derivative liabilities related to the redemption
right of preferred shares and accretion on preferred shares to
redemption value, was RMB1,096.4 million (US$169.8 million) for the
second quarter of 2021, compared with RMB769.5 million for the same
period of 2020 and RMB696.3 million for the first quarter of
2021.
Basic and diluted net loss per ADS were both RMB1.50
(US$0.23) for the second quarter of 2021, compared with RMB6.29 for
the second quarter of 2020 and RMB0.99 for the first quarter of
2021.
Non-GAAP basic and diluted net loss per ADS were both
RMB1.38 (US$0.21) for the second quarter of 2021, compared with
RMB4.24 for the second quarter of 2020 and RMB0.88 for the first
quarter of 2021.
Balance Sheets
As of June 30, 2021, the Company had cash and cash equivalents,
restricted cash, short-term deposits, short-term investments and
long-term deposits of RMB32,871.2 million (US$5,091.1 million),
compared to RMB35,342.1 million as of December 31, 2020.
Business Outlook
For the third quarter of 2021, the Company expects:
- Deliveries of vehicles to be between 21,500 and 22,500,
representing a year-over-year increase of approximately 150.6% to
162.3%.
- Total revenues to be between RMB4.8 billion and RMB5.0
billion, representing a year-over- year increase of approximately
141.2% to 151.3%.
The above outlook is based on the current market conditions and
reflects the Company’s preliminary estimates of market and
operating conditions, and customer demand, which are all subject to
change.
Conference Call
The Company's management will host an earnings conference call
at 8:00 AM U.S. Eastern Time on August 26, 2021 (8:00 PM
Beijing/Hong Kong time on August 26, 2021).
Dial-in details for the earnings conference call are as
follows:
United States: +1-833-350-1333 United Kingdom: +44-203-547-8612
International: +1-236-389-2427 Hong Kong, China: +852-3012-6671
China Mainland: 400-820-9391 Conference ID: 7286782
Participants should dial-in at least 5 minutes before the
scheduled start time to be connected to the call.
Additionally, a live and archived webcast of the conference call
will be available on the Company's investor relations website at
http://ir.xiaopeng.com.
A replay of the conference call will be accessible approximately
two hours after the conclusion of the call until September 2, 2021,
by dialing the following telephone numbers:
United States: +1-800-585-8367 International: +1-416-621-4642
Replay Access Code: 7286782
About XPeng
XPeng is a leading Chinese Smart EV company that designs,
develops, manufactures, and markets Smart EVs that appeal to the
large and growing base of technology-savvy middle-class consumers
in China. Its mission is to drive Smart EV transformation with
technology and data, shaping the mobility experience of the future.
In order to optimize its customers’ mobility experience, XPeng
develops in-house its full-stack advanced driver-assistance system
technology and in-car intelligent operating system, as well as core
vehicle systems including powertrain and the
electrification/electronic architecture. XPeng is headquartered in
Guangzhou, China, with main offices in Beijing, Shanghai, Silicon
Valley and San Diego. The Company’s Smart EVs are mainly
manufactured at its plant in Zhaoqing, Guangdong province. For more
information, please visit https://en.xiaopeng.com.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP measures, such as non-GAAP loss from
operations, non-GAAP net loss, non-GAAP net loss attributable to
ordinary shareholders, non-GAAP basic loss per weighted average
number of ordinary shares and non-GAAP basic loss per ADS, in
evaluating its operating results and for financial and operational
decision-making purposes. By excluding the impact of share-based
compensation expenses, fair value change on derivative liabilities
related to the redemption right of preferred shares and/or
accretion on preferred shares to redemption value, the Company
believes that the non-GAAP financial measures help identify
underlying trends in its business and enhance the overall
understanding of the Company’s past performance and future
prospects. The Company also believes that the non-GAAP financial
measures allow for greater visibility with respect to key metrics
used by the Company’s management in its financial and operational
decision-making. The non-GAAP financial measures are not presented
in accordance with U.S. GAAP and may be different from non-GAAP
methods of accounting and reporting used by other companies. The
non-GAAP financial measures have limitations as analytical tools
and when assessing the Company’s operating performance, investors
should not consider them in isolation, or as a substitute for net
loss or other consolidated statements of comprehensive loss data
prepared in accordance with U.S. GAAP. The Company encourages
investors and others to review its financial information in its
entirety and not rely on a single financial measure. The Company
mitigates these limitations by reconciling the non-GAAP financial
measures to the most comparable U.S. GAAP performance measures, all
of which should be considered when evaluating the Company’s
performance.
For more information on the non-GAAP financial measures, please
see the table captioned “Unaudited Reconciliations of GAAP and
non-GAAP Results” set forth at the end of this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB to
U.S. dollars and from U.S. dollars to RMB are made at a rate of
RMB6.4566 to US$1.00, the exchange rate on June 30, 2021 set forth
in the H.10 statistical release of the Federal Reserve Board. The
Company makes no representation that the RMB or U.S. dollars
amounts referred could be converted into U.S. dollars or RMB, as
the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates” and similar statements. Statements
that are not historical facts, including statements about XPeng’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: XPeng’s goal
and strategies; XPeng’s expansion plans; XPeng’s future business
development, financial condition and results of operations; the
trends in, and size of, China’s EV market; XPeng’s expectations
regarding demand for, and market acceptance of, its products and
services; XPeng’s expectations regarding its relationships with
customers, contract manufacturer, suppliers, third- party service
providers, strategic partners and other stakeholders; general
economic and business conditions; and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks is included in XPeng’s filings with the
United States Securities and Exchange Commission. All information
provided in this announcement is as of the date of this
announcement, and XPeng does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except
for share and per share data)
As of
31 December,
2020
(audited)
30 June,
2021
(unaudited)
30 June,
2021
(unaudited)
RMB
RMB
USD
Assets
Current assets:
Cash and cash equivalents
29,209,388
15,444,912
2,392,112
Restricted cash
2,332,145
1,147,234
177,684
Short-term deposits
979,897
13,159,653
2,038,171
Short-term investments
2,820,711
902,826
139,830
Derivative assets
105,183
3,360
520
Accounts receivable, net
1,128,892
1,649,601
255,491
Current portion of finance
lease
receivables, net
156,069
430,542
66,682
Inventory
1,343,025
2,121,072
328,512
Amounts due from related
parties
682
3,208
497
Prepayments and other current
assets
1,603,286
1,933,471
299,457
Total current assets
39,679,278
36,795,879
5,698,956
Non-current assets:
Property, plant and equipment,
net
3,081,502
3,738,809
579,068
Right-of-use assets
461,184
823,011
127,468
Intangible assets, net
607,781
858,027
132,891
Land use rights, net
249,934
380,306
58,902
Finance lease receivables,
net
397,467
1,031,812
159,807
Long-term deposits
—
2,216,579
343,304
Other non-current assets
228,633
406,313
62,930
Long-term investments
1,000
44,829
6,943
Total non-current
assets
5,027,501
9,499,686
1,471,313
Total assets
44,706,779
46,295,565
7,170,269
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except
for share and per share data)
As of
31 December,
2020
(audited)
30 June,
2021
(unaudited)
30 June,
2021
(unaudited)
RMB
RMB
USD
Liabilities
Current liabilities
Short-term borrowings
127,900
—
—
Accounts and notes payable
5,111,745
6,457,246
1,000,100
Amount due to a related party
12,062
16,595
2,570
Current portion of lease
liabilities
119,565
218,189
33,793
Current portion of deferred
revenue
163,617
202,326
31,336
Current portion of long-term
borrowings
45,000
—
—
Accruals and other
liabilities
2,256,165
2,611,787
404,514
Income taxes payable
1,209
—
—
Total current
liabilities
7,837,263
9,506,143
1,472,313
Non-current liabilities
Long-term borrowings
1,645,000
1,596,000
247,189
Lease liabilities
352,501
582,533
90,223
Deferred revenue
144,767
287,213
44,484
Other non-current liabilities
297,439
2,009,599
311,247
Total non-current
liabilities
2,439,707
4,475,345
693,143
Total liabilities
10,276,970
13,981,488
2,165,456
Shareholder’s equity
Class A Ordinary shares
63
67
10
Class B Ordinary shares
26
26
4
Class C Ordinary shares
12
12
2
Additional paid in capital
46,482,512
46,670,937
7,228,408
Accumulated other comprehensive
loss
(730,381)
(1,053,412)
(163,153)
Accumulated deficit
(11,322,423)
(13,303,553)
(2,060,458)
Total shareholders’
equity
34,429,809
32,314,077
5,004,813
Noncontrolling interests
—
—
—
Total shareholders’
equity
34,429,809
32,314,077
5,004,813
Total liabilities and
shareholders’ equity
44,706,779
46,295,565
7,170,269
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF
COMPREHENSIVE
INCOME/(LOSS)
(All amounts in thousands, except
for share and per share data)
Three Months Ended
June 30,
2020
(unaudited)
March 31,
2021
(unaudited)
June 30,
2021
(unaudited)
June 30,
2021
(unaudited)
RMB
RMB
RMB
USD
Revenues
— Vehicle sales
541,118
2,810,347
3,584,364
555,147
— Services and others
49,663
140,579
176,915
27,401
Total revenues
590,781
2,950,926
3,761,279
582,548
Cost of sales
— Vehicle sales
(571,400)
(2,525,808)
(3,191,489)
(494,299)
— Services and others
(35,624)
(95,277)
(121,210)
(18,773)
Total cost of sales
(607,024)
(2,621,085)
(3,312,699)
(513,072)
Gross (loss)/profit
(16,243)
329,841
448,580
69,476
Operating expenses
Research and development
expenses
(319,796)
(535,114)
(863,524)
(133,743)
Selling, general and
administrative
expenses
(477,149)
(720,821)
(1,030,767)
(159,645)
Total operating
expenses
(796,945)
(1,255,935)
(1,894,291)
(293,388)
Other income
34,096
22,161
2,546
394
Loss from operations
(779,092)
(903,933)
(1,443,165)
(223,518)
Interest income
10,295
135,102
150,029
23,237
Interest expense
(7,676)
(1,142)
(24,006)
(3,718)
Fair value (loss)/gain on
derivative
liabilities
623,410
(1,808)
77,790
12,048
Other non-operating
income/(loss),
net
7,021
(14,780)
44,783
6,936
Loss before income
taxes
(146,042)
(786,561)
(1,194,569)
(185,015)
Income tax expenses
—
—
—
—
Net loss
(146,042)
(786,561)
(1,194,569)
(185,015)
Accretion on Preferred Shares
to
redemption value
(995,444)
—
—
—
Net loss attributable to
ordinary
shareholders of XPeng
Inc.
(1,141,486)
(786,561)
(1,194,569)
(185,015)
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME/(LOSS)
(CONTINUED)
(All amounts in thousands, except
for share and per share data)
Three Months Ended
June 30,
2020
(unaudited)
March 31,
2021
(unaudited)
June 30,
2021
(unaudited)
June 30,
2021
(unaudited)
RMB
RMB
RMB
USD
Net loss
Other comprehensive
loss
(146,042)
(786,561)
(1,194,569)
(185,015)
Foreign currency translation
adjustment, net of nil tax
(3,423)
101,092
(424,123)
(65,688)
Total comprehensive
loss
(149,465)
(685,469)
(1,618,692)
(250,703)
Accretion on Preferred Shares
to
redemption value
(995,444)
—
—
—
Comprehensive loss
attributable
to ordinary shareholders
of
XPeng Inc.
(1,144,909)
(685,469)
(1,618,692)
(250,703)
Weighted average number of
ordinary shares used in
computing net loss per share
Basic and diluted
362,747,375
1,586,718,206
1,592,387,877
1,592,387,877
Net loss per share attributable
to
ordinary shareholders
Basic and diluted
(3.15)
(0.50)
(0.75)
(0.12)
Weighted average number of ADS
used in computing net loss per
share
Basic and diluted
181,373,688
793,359,103
796,193,938
796,193,938
Net loss per ADS attributable
to
ordinary shareholders
Basic and diluted
(6.29)
(0.99)
(1.50)
(0.23)
XPENG INC.
UNAUDITED RECONCILIATIONS OF
GAAP AND
NON-GAAP RESULTS
(All amounts in thousands, except
for share and per share data)
Three Months Ended
June 30,
2020
(unaudited)
March 31,
2021
(unaudited)
June 30,
2021
(unaudited)
June 30,
2021
(unaudited)
RMB
RMB
RMB
USD
Loss from operations
(779,092)
(903,933)
(1,443,165)
(223,518)
Share-based compensation
expenses
—
90,276
98,153
15,202
Non-GAAP loss from
operations
(779,092)
(813,657)
(1,345,012)
(208,316)
Net loss
(146,042)
(786,561)
(1,194,569)
(185,015)
Fair value gain of
convertible
redeemable preferred shares
(623,410)
—
—
—
Share-based compensation
expenses
—
90,276
98,153
15,202
Non-GAAP net loss
(769,452)
(696,285)
(1,096,416)
(169,813)
Net loss attributable to
ordinary
shareholders
(1,141,486)
(786,561)
(1,194,569)
(185,015)
Fair value gain of
convertible
redeemable preferred shares
(623,410)
—
—
—
Share-based compensation
expenses
—
90,276
98,153
15,202
Accretion on Preferred Shares
to
redemption value
995,444
—
—
—
Non-GAAP net loss
attributable
to ordinary shareholders
of
XPeng Inc.
(769,452)
(696,285)
(1,096,416)
(169,813)
Weighted average number of
ordinary shares used in
calculating Non-GAAP net loss
per share
Basic and diluted
362,747,375
1,586,718,206
1,592,387,877
1,592,387,877
Non-GAAP net loss per ordinary
share
Basic and diluted
(2.12)
(0.44)
(0.69)
(0.11)
Weighted average number of
ADS used in calculating
Non-GAAP net loss per share
Basic and diluted
181,373,688
793,359,103
796,193,938
796,193,938
Non-GAAP net loss per ADS
Basic and diluted
(4.24)
(0.88)
(1.38)
(0.21)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210826005354/en/
For Investor Enquiries IR Department XPeng Inc. E-mail:
ir@xiaopeng.com
Jenny Cai The Piacente Group Tel: +1-212-481-2050 or
+86-10-6508-0677 E-mail: xpeng@tpg-ir.com
For Media Enquiries Marie Cheung XPeng Inc. Tel:
+852-9750-5170/+86-1550-7577-546 E-mail:
mariecheung@xiaopeng.com
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