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 September 30, 2023.
Operational and Financial Highlights for
the Three Months Ended September 30, 2023
|
|
2023Q3 |
2023Q2 |
2023Q1 |
2022Q4 |
2022Q3 |
2022Q2 |
| Total
deliveries |
40,008 |
23,205 |
18,230 |
22,204 |
29,570 |
34,422 |
| |
|
|
|
|
|
|
- Total
deliveries of
vehicles were 40,008 for the third quarter of
2023, representing an increase of 72.4% from 23,205 for the second
quarter of 2023.
- XPENG’s physical
sales network had a total of 395
stores as of September 30, 2023.
- XPENG
self-operated charging
station network reached 1,057
stations, including 854 XPENG self-operated supercharging stations
and 203 destination charging stations as of September 30,
2023.
- Total
revenues were RMB8.53 billion (US$1.17 billion) for the
third quarter of 2023, representing an increase of 25.0% from the
same period of 2022, and an increase of 68.5% from the second
quarter of 2023.
- Revenues
from vehicle
sales were RMB7.84 billion (US$1.08 billion) for
the third quarter of 2023, representing an increase of 25.7% from
the same period of 2022, and an increase of 77.3% from the second
quarter of 2023.
- Gross margin was
negative 2.7% for the third quarter of 2023, compared with 13.5%
for the same period of 2022 and negative 3.9% for the second
quarter of 2023.
- Vehicle margin,
which is gross profit or loss of vehicle sales as a percentage of
vehicle sales revenue, was negative 6.1% for the third quarter of
2023, compared with 11.6% for the same period of 2022 and negative
8.6% for the second quarter of 2023.
- Fair
value loss on derivative liability was RMB0.97 billion
(US$0.13 billion) for the third quarter of 2023. This non-cash loss
resulted from the fluctuation in the fair value of the forward
share purchase agreement, measured through profit or loss, related
to the issuance of shares by the Company for strategic minority
investment by the Volkswagen Group
(“Volkswagen”).
- Net loss was
RMB3.89 billion (US$0.53 billion) for the third quarter of 2023,
compared with RMB2.38 billion for the same period of 2022 and
RMB2.80 billion for the second quarter of 2023. Excluding
share-based compensation expenses and fair value loss on derivative
liability, non-GAAP net loss was RMB2.79 billion
(US$0.38 billion) for the third quarter of 2023, compared with
RMB2.22 billion for the same period of 2022 and RMB2.67 billion for
the second quarter of 2023.
- Net loss attributable to
ordinary shareholders of XPENG was RMB3.89 billion
(US$0.53 billion) for the third quarter of 2023, compared with
RMB2.38 billion for the same period of 2022 and RMB2.80 billion for
the second quarter of 2023. Excluding share-based compensation
expenses and fair value loss on derivative liability,
non-GAAP net
loss attributable to
ordinary shareholders of
XPENG was RMB2.79 billion (US$0.38 billion) for
the third quarter of 2023, compared with RMB2.22 billion for the
same period of 2022 and RMB2.67 billion for the second quarter of
2023.
- Basic and diluted net loss
per American depositary share (ADS) were both RMB4.49
(US$0.62) and basic and
diluted net loss
per ordinary
share were both RMB2.25 (US$0.31) for the third
quarter of 2023. Each ADS represents two Class A ordinary
shares.
- Non-GAAP
basic and
diluted net loss
per ADS were both RMB3.23
(US$0.44) and non-GAAP basic and diluted net loss per
ordinary share were both RMB1.61 (US$0.22) for the third
quarter of 2023.
- Cash and cash equivalents,
restricted cash, short-term investments and time deposits
were RMB36.48 billion (US$5.00 billion) as of September 30, 2023,
compared with RMB33.74 billion as of June 30, 2023. Time deposits
include restricted short-term deposits, short-term deposits,
restricted long-term deposits, current portion and non-current
portion of long-term deposits.
Key Financial Results(in RMB
billions, except for percentage)
|
|
For the Three Months Ended |
% Changei |
|
|
September 30, |
|
June 30, |
|
September 30, |
|
|
|
|
2023 |
|
2023 |
|
2022 |
|
YoY |
|
QoQ |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Vehicle
sales |
7.84 |
|
4.42 |
|
6.24 |
|
25.7% |
|
77.3% |
|
| Vehicle
margin |
-6.1% |
|
-8.6% |
|
11.6% |
|
-17.7pts |
|
2.5pts |
|
| Total
revenues |
8.53 |
|
5.06 |
|
6.82 |
|
25.0% |
|
68.5% |
|
| Gross
(loss) profit |
(0.23) |
|
(0.20) |
|
0.92 |
|
-124.7% |
|
15.5% |
|
| Gross
margin |
-2.7% |
|
-3.9% |
|
13.5% |
|
-16.2pts |
|
1.2pts |
|
| Net
loss |
3.89 |
|
2.80 |
|
2.38 |
|
63.6% |
|
38.6% |
|
| Non-GAAP
net loss |
2.79 |
|
2.67 |
|
2.22 |
|
25.5% |
|
4.5% |
|
| Net loss
attributable to ordinary shareholders |
3.89 |
|
2.80 |
|
2.38 |
|
63.6% |
|
38.6% |
|
| Non-GAAP
net loss attributable to ordinary shareholders |
2.79 |
|
2.67 |
|
2.22 |
|
25.5% |
|
4.5% |
|
|
Comprehensive loss attributable to ordinary shareholders |
4.01 |
|
1.93 |
|
0.69 |
|
481.1% |
|
107.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| i. Except for
vehicle margin and gross margin, where absolute changes instead of
percentage changes are presented |
|
|
Management Commentary
“In 2023, XPENG was the first mover in reaching
the inflection point for both the development and mass adoption of
ADAS technologies. I believe that over the next five years, ADAS
technologies will experience increasing and massive acceptance by
consumers. As we lead the nationwide rollout of XNGP, XPENG will
become the go-to smart EV brand for customers,” said Mr. He
Xiaopeng, Chairman and CEO of XPENG. “In the third quarter of 2023,
our business stepped into the initial phase of a virtuous cycle. I
am confident that the transformational adjustments we began to
implement early this year will yield more positive results in 2024
and beyond, accelerating our virtuous cycle and rapid growth by the
fourth quarter of 2024.”
“XPENG vehicle deliveries have grown for nine
consecutive months and our free cash flow has substantially
improved,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and
Co-President of XPENG. “Our new products and technology-driven cost
controls are expected to result in notable improvements to our
gross margin. Leveraging these strengths, we expect even stronger
free cash flow in the fourth quarter, marking the starting point of
our journey towards long-term scalable profitability.”
Recent Developments
Deliveries in
October 2023
- Total deliveries were 20,002 vehicles in October 2023.
- As of October 31, 2023, year-to-date total deliveries were
101,445 vehicles.
XPENG 2023
Tech Day
On October 24, 2023, XPENG hosted its fifth
annual 1024 Tech Day in Guangzhou. The Company unveiled its
cutting-edge technology roadmap for autonomous driving and mobility
ecosystem, including its Smart EVs and robotics.
ESG Performance
On October 11, 2023, XPENG announced that Morgan
Stanley Capital International (“MSCI”) has
upgraded its MSCI ESG Rating for the Company from “AA” to “AAA”,
which is MSCI’s highest rating and is given to companies that are
leading their industries in managing ESG risks and
opportunities.
Launch of
XPENG G9 2024
Edition
On September 19, 2023, XPENG introduced XPENG G9
2024 Edition and commenced deliveries during the same month.
Unaudited Financial Results for the Three Months Ended
September 30, 2023
Total revenues
were RMB8.53 billion (US$1.17 billion) for the third quarter of
2023, representing an increase of 25.0% from RMB6.82 billion for
the same period of 2022 and an increase of 68.5% from RMB5.06
billion for the second quarter of 2023.
Revenues from vehicle sales
were RMB7.84 billion (US$1.08 billion) for the third quarter of
2023, representing an increase of 25.7% from the same period of
2022, and an increase of 77.3% from the second quarter of 2023. The
year-over-year and quarter-over-quarter increases were mainly
attributable to the accelerating sales growth of the G6 in the
third quarter of 2023.
Revenues from
services and
others were RMB0.69 billion (US$0.09 billion) for
the third quarter of 2023, representing an increase of 17.7% from
RMB0.58 billion for the same period of 2022 and an increase of 7.4%
from RMB0.64 billion for the second quarter of 2023. The
year-over-year and quarter-over-quarter increases were mainly
attributable to the increases of maintenance, supercharging and
auto financing services sales, which were in line with higher
accumulated vehicle sales.
Cost of
sales was RMB8.76 billion (US$1.20 billion) for
the third quarter of 2023, representing an increase of 48.4% from
RMB5.90 billion for the same period of 2022 and an increase of
66.5% from RMB5.26 billion for the second quarter of 2023. The
year-over-year and quarter-over-quarter increases were mainly in
line with vehicle deliveries as described above. In addition, the
year-over-year increase was attributable to inventory write-downs
amounting to RMB0.23 billion related to the model G3i as management
lowered its forecasted sales due to stronger-than-expected market
demands for newly launched vehicle models.
Gross margin was negative 2.7%
for the third quarter of 2023, compared with 13.5% for the same
period of 2022 and negative 3.9% for the second quarter of
2023.
Vehicle margin
was negative 6.1% for the third quarter of 2023, compared with
11.6% for the same period of 2022 and negative 8.6% for the second
quarter of 2023. The year-over-year decrease was explained by (i)
the inventory write-downs related to the G3i, with a negative
impact of 2.9 percentage points on vehicle margin for the third
quarter of 2023, and (ii) increased sales promotions, and the
expiry of new energy vehicle subsidies. The quarter-over-quarter
increase was primarily attributable to the improvement in product
mix of models and the cost reduction.
Research and development
expenses were RMB1.31 billion (US$0.18 billion) for the
third quarter of 2023, representing a decrease of 12.9% from
RMB1.50 billion for the same period of 2022 and a decrease of 4.5%
from RMB1.37 billion for the second quarter of 2023. The
year-over-year and quarter-over-quarter decreases were mainly in
line with timing and progress of new vehicle programs.
Selling,
general and
administrative expenses were
RMB1.69 billion (US$0.23 billion) for the third quarter of 2023,
representing an increase of 4.0% from RMB1.63 billion for the same
period of 2022 and an increase of 9.6% from RMB1.54 billion for the
second quarter of 2023. The year-over-year and quarter-over-quarter
increases were primarily attributable to the higher commission paid
to the franchised stores.
Loss from
operations was RMB3.16 billion (US$0.43 billion)
for the third quarter of 2023, compared with RMB2.18 billion for
the same period of 2022 and RMB3.09 billion for the second quarter
of 2023.
Non-GAAP loss from operations,
which excludes share-based compensation expenses, was RMB3.04
billion (US$0.42 billion) for the third quarter of 2023, compared
with RMB2.02 billion for the same period of 2022 and RMB2.96
billion for the second quarter of 2023.
Net loss was RMB3.89 billion
(US$0.53 billion) for the third quarter of 2023, compared with
RMB2.38 billion for the same period of 2022 and RMB2.80 billion for
the second quarter of 2023.
Fair value
loss on
derivative liability was RMB0.97
billion (US$0.13 billion) for the third quarter of 2023. This
non-cash loss resulted from the fluctuation in the fair value of
the forward share purchase agreement, measured through profit or
loss, related to the issuance of shares by the Company for
strategic minority investment by the Volkswagen Group.
Non-GAAP net loss, which
excludes share-based compensation expenses and fair value loss on
derivative liability, was RMB2.79 billion (US$0.38 billion) for the
third quarter of 2023, compared with RMB2.22 billion for the same
period of 2022 and RMB2.67 billion for the second quarter of
2023.
Net loss
attributable to
ordinary shareholders
of XPENG was RMB3.89 billion
(US$0.53 billion) for the third quarter of 2023, compared with
RMB2.38 billion for the same period of 2022 and RMB2.80 billion for
the second quarter of 2023.
Non-GAAP net loss attributable to
ordinary shareholders of XPENG, which excludes share-based
compensation expenses and fair value loss on derivative liability,
was RMB2.79 billion (US$0.38 billion) for the third quarter of
2023, compared with RMB2.22 billion for the same period of 2022 and
RMB2.67 billion for the second quarter of 2023.
Basic and diluted net loss per
ADS were both RMB4.49 (US$0.62) for the third quarter of
2023, compared with RMB2.77 for the third quarter of 2022 and
RMB3.25 for the second quarter of 2023.
Non-GAAP basic
and diluted net
loss per ADS
were both RMB3.23 (US$0.44) for the third quarter of 2023, compared
with RMB2.59 for the third quarter of 2022 and RMB3.10 for the
second quarter of 2023.
Balance Sheets
As of September 30, 2023, the Company had cash
and cash equivalents, restricted cash, short-term investments and
time deposits of RMB36.48 billion (US$5.00 billion), compared with
RMB38.25 billion as of December 31, 2022 and RMB33.74 billion as of
June 30, 2023.
Business Outlook
For the fourth quarter of 2023, the Company
expects:
- Deliveries
of vehicles to be between 59,500
and 63,500, representing a year-over-year increase of approximately
101.2% to 114.7%.
- Total revenues to be between
RMB12.7 billion and RMB13.6 billion, representing a year-over-year
increase of approximately 86.1% to 99.3%.
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 November 15, 2023
(9:00 PM Beijing/Hong Kong Time on November 15, 2023).
For participants who wish to join the call by
phone, please access the link provided below to complete the
pre-registration process and dial in 5 minutes prior to the
scheduled call start time. Upon registration, each participant will
receive dial-in details to join the conference call.
|
Event Title: |
XPENG Third Quarter 2023 Earnings Conference Call |
| Pre-registration link: |
https://s1.c-conf.com/diamondpass/10034271-dqxo0v.html |
| |
|
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
an hour after the conclusion of the call until November 22, 2023,
by dialing the following telephone numbers:
|
United States: |
+1-855-883-1031 |
|
International: |
+61-7-3107-6325 |
| Hong
Kong, China: |
800-930-639 |
| Mainland
China: |
400-120-9216 |
| Replay
Access Code: |
10034271 |
|
|
|
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. Its mission is to drive Smart EV transformation with
technology, 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 electrical/electronic
architecture. XPENG is headquartered in Guangzhou, China, with main
offices in Beijing, Shanghai, Silicon Valley, San Diego and
Amsterdam. The Company’s Smart EVs are mainly manufactured at its
plants in Zhaoqing and Guangzhou, Guangdong province. For more
information, please visit https://heyXPENG.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 and fair value loss on derivative
liability, 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 in 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 RMB7.2960 to US$1.00, the exchange rate on
September 29, 2023, 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, 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.
For Investor
EnquiriesIR Department XPeng Inc.E-mail:
ir@xiaopeng.com
Jenny CaiPiacente Financial CommunicationsTel: +1-212-481-2050
or +86-10-6508-0677E-mail: xpeng@tpg-ir.com
For Media Enquiries PR Department XPeng
Inc.E-mail: pr@xiaopeng.com
Source: XPeng Inc.
|
XPENG INC.UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS(All amounts in thousands,
except for ADS/ordinary share and per ADS/ordinary share data) |
|
|
|
|
December 31, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
| |
|
|
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
| Current
assets |
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
14,607,774 |
|
|
12,197,669 |
|
|
1,671,830 |
|
| Restricted cash |
106,272 |
|
|
1,139,599 |
|
|
156,195 |
|
| Short-term deposits |
14,921,688 |
|
|
12,152,077 |
|
|
1,665,581 |
|
| Restricted short-term
deposits |
- |
|
|
1,010,000 |
|
|
138,432 |
|
| Short-term investments |
1,262,129 |
|
|
181,007 |
|
|
24,809 |
|
| Long-term deposits, current
portion |
427,466 |
|
|
4,487,216 |
|
|
615,024 |
|
| Accounts and notes receivable,
net |
3,872,846 |
|
|
3,244,400 |
|
|
444,682 |
|
| Installment payment
receivables, net, current portion |
1,294,665 |
|
|
1,697,592 |
|
|
232,674 |
|
| Inventory |
4,521,373 |
|
|
5,287,550 |
|
|
724,719 |
|
| Amounts due from related
parties |
47,124 |
|
|
27,867 |
|
|
3,819 |
|
| Prepayments and other current
assets |
2,466,084 |
|
|
2,232,540 |
|
|
305,996 |
|
| Total current
assets |
43,527,421 |
|
|
43,657,517 |
|
|
5,983,761 |
|
| Non-current
assets |
|
|
|
|
|
|
|
|
| Long-term deposits |
6,926,450 |
|
|
4,563,512 |
|
|
625,481 |
|
| Restricted long-term
deposits |
- |
|
|
750,000 |
|
|
102,796 |
|
| Property, plant and equipment,
net |
10,606,745 |
|
|
10,911,466 |
|
|
1,495,541 |
|
| Right-of-use assets, net |
1,954,618 |
|
|
1,560,903 |
|
|
213,940 |
|
| Intangible assets, net |
1,042,972 |
|
|
1,040,171 |
|
|
142,567 |
|
| Land use rights, net |
2,747,854 |
|
|
2,802,005 |
|
|
384,047 |
|
| Installment payment
receivables, net |
2,188,643 |
|
|
2,616,312 |
|
|
358,595 |
|
| Long-term investments |
2,295,032 |
|
|
2,492,948 |
|
|
341,687 |
|
| Other non-current assets |
201,271 |
|
|
147,690 |
|
|
20,243 |
|
| Total non-current
assets |
27,963,585 |
|
|
26,885,007 |
|
|
3,684,897 |
|
| Total
assets |
71,491,006 |
|
|
70,542,524 |
|
|
9,668,658 |
|
| |
|
|
|
|
|
|
|
|
|
XPENG INC.UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED)(All amounts in thousands, except for
ADS/ordinary share and per ADS/ordinary share data) |
| |
|
|
|
|
|
December 31, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
| Current
liabilities |
|
|
|
|
Short-term borrowings |
2,419,210 |
|
|
4,226,815 |
|
|
579,333 |
|
| Accounts and notes
payable |
14,222,856 |
|
|
16,566,450 |
|
|
2,270,621 |
|
| Amount due to related
parties |
91,111 |
|
|
52,094 |
|
|
7,140 |
|
| Operating lease liabilities,
current portion |
490,811 |
|
|
400,032 |
|
|
54,829 |
|
| Finance lease liabilities,
current portion |
128,279 |
|
|
74,890 |
|
|
10,265 |
|
| Deferred revenue, current
portion |
389,243 |
|
|
536,649 |
|
|
73,554 |
|
| Long-term borrowings, current
portion |
761,859 |
|
|
776,793 |
|
|
106,468 |
|
| Accruals and other
liabilities |
5,583,829 |
|
|
6,671,159 |
|
|
914,358 |
|
| Income taxes payable |
27,655 |
|
|
13,339 |
|
|
1,828 |
|
| Derivative liability |
- |
|
|
972,753 |
|
|
133,327 |
|
| Total current
liabilities |
24,114,853 |
|
|
30,290,974 |
|
|
4,151,723 |
|
| Non-current
liabilities |
|
|
|
|
|
|
|
|
| Long-term borrowings |
4,613,057 |
|
|
6,421,177 |
|
|
880,096 |
|
| Operating lease
liabilities |
1,854,576 |
|
|
1,554,029 |
|
|
212,997 |
|
| Finance lease liabilities |
797,743 |
|
|
780,584 |
|
|
106,988 |
|
| Deferred revenue |
694,006 |
|
|
678,972 |
|
|
93,061 |
|
| Other non-current
liabilities |
2,506,106 |
|
|
2,022,850 |
|
|
277,255 |
|
| Total non-current
liabilities |
10,465,488 |
|
|
11,457,612 |
|
|
1,570,397 |
|
| Total
liabilities |
34,580,341 |
|
|
41,748,586 |
|
|
5,722,120 |
|
|
|
|
|
|
|
|
|
|
|
| SHAREHOLDERS’
EQUITY |
|
|
|
| Class A Ordinary shares |
92 |
|
|
92 |
|
|
13 |
|
| Class B Ordinary shares |
21 |
|
|
21 |
|
|
3 |
|
| Additional paid-in
capital |
60,691,019 |
|
|
61,074,518 |
|
|
8,370,959 |
|
| Statutory and other
reserves |
6,425 |
|
|
25,127 |
|
|
3,444 |
|
| Accumulated deficit |
(25,330,916) |
|
|
(34,359,076) |
|
|
(4,709,303) |
|
| Accumulated other
comprehensive income |
1,544,024 |
|
|
2,053,256 |
|
|
281,422 |
|
| Total shareholders'
equity |
36,910,665 |
|
|
28,793,938 |
|
|
3,946,538 |
|
| Total liabilities and
shareholders’ equity |
71,491,006 |
|
|
70,542,524 |
|
|
9,668,658 |
|
| |
|
|
|
|
|
|
|
|
|
XPENG INC.UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE LOSS(All amounts in thousands,
except for ADS/ordinary share and per ADS/ordinary share data) |
| |
|
| |
Three Months Ended |
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
Vehicle sales |
6,241,143 |
|
|
4,424,537 |
|
|
7,844,239 |
|
|
1,075,142 |
|
|
Services and others |
582,344 |
|
|
638,159 |
|
|
685,282 |
|
|
93,926 |
|
| Total
revenues |
6,823,487 |
|
|
5,062,696 |
|
|
8,529,521 |
|
|
1,169,068 |
|
| Cost of
sales |
|
|
|
|
|
|
|
|
|
|
|
Vehicle sales |
(5,514,695) |
|
|
(4,804,535) |
|
|
(8,319,890) |
|
|
(1,140,336) |
|
|
Services and others |
(385,554) |
|
|
(455,552) |
|
|
(437,589) |
|
|
(59,977) |
|
| Total cost of
sales |
(5,900,249) |
|
|
(5,260,087) |
|
|
(8,757,479) |
|
|
(1,200,313) |
|
| Gross profit
(loss) |
923,238 |
|
|
(197,391) |
|
|
(227,958) |
|
|
(31,245) |
|
| Operating
expenses |
|
|
|
|
|
|
|
|
|
|
|
Research and development expenses |
(1,498,550) |
|
|
(1,367,107) |
|
|
(1,305,868) |
|
|
(178,984) |
|
|
Selling, general and administrative expenses |
(1,626,343) |
|
|
(1,543,625) |
|
|
(1,692,194) |
|
|
(231,934) |
|
| Total operating
expenses |
(3,124,893) |
|
|
(2,910,732) |
|
|
(2,998,062) |
|
|
(410,918) |
|
| Other income, net |
24,824 |
|
|
17,940 |
|
|
65,192 |
|
|
8,935 |
|
| Loss from
operations |
(2,176,831) |
|
|
(3,090,183) |
|
|
(3,160,828) |
|
|
(433,228) |
|
| Interest income |
289,954 |
|
|
303,637 |
|
|
314,004 |
|
|
43,038 |
|
| Interest expense |
(38,968) |
|
|
(67,007) |
|
|
(65,767) |
|
|
(9,014) |
|
| Fair value loss on derivative
assets or derivative liabilities |
(8,003) |
|
|
- |
|
|
(971,832) |
|
|
(133,201) |
|
| Fair value gain (loss) on
long-term investments |
129,240 |
|
|
(38,704) |
|
|
(8,782) |
|
|
(1,204) |
|
| Exchange (loss) gain from
foreign currency transactions |
(550,775) |
|
|
42,663 |
|
|
5,972 |
|
|
819 |
|
| Other non-operating (loss)
income, net |
(2,600) |
|
|
4,286 |
|
|
4,282 |
|
|
587 |
|
| Loss before income tax
expenses and share of results of equity method
investees |
(2,357,983) |
|
|
(2,845,308) |
|
|
(3,882,951) |
|
|
(532,203) |
|
| Income tax expenses |
(21,017) |
|
|
(8,217) |
|
|
(682) |
|
|
(93) |
|
| Share of results of equity
method investees |
2,852 |
|
|
48,873 |
|
|
(2,917) |
|
|
(400) |
|
| Net loss |
(2,376,148) |
|
|
(2,804,652) |
|
|
(3,886,550) |
|
|
(532,696) |
|
| Net loss attributable
to ordinary shareholders of XPeng Inc. |
(2,376,148) |
|
|
(2,804,652) |
|
|
(3,886,550) |
|
|
(532,696) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XPENG INC.UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(CONTINUED)(All amounts in thousands, except for
ADS/ordinary share and per ADS/ordinary share data) |
| |
|
| |
Three Months Ended |
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
|
| Net loss |
(2,376,148) |
|
|
(2,804,652) |
|
|
(3,886,550) |
|
|
(532,696) |
|
| Other comprehensive
income (loss) |
|
|
|
|
|
|
|
| Foreign currency translation
adjustment, net of tax |
1,686,156 |
|
|
876,266 |
|
|
(123,081) |
|
|
(16,870) |
|
| Total comprehensive
loss attributable to XPeng
Inc. |
(689,992) |
|
|
(1,928,386) |
|
|
(4,009,631) |
|
|
(549,566) |
|
| Comprehensive loss
attributable to ordinary shareholders of XPeng
Inc. |
(689,992) |
|
|
(1,928,386) |
|
|
(4,009,631) |
|
|
(549,566) |
|
| |
|
|
|
|
|
|
|
| Weighted average
number of ordinary shares used in computing net loss
per ordinary share |
|
|
|
|
|
|
|
| Basic and diluted |
1,718,162,864 |
|
|
1,723,369,664 |
|
|
1,729,980,347 |
|
|
1,729,980,347 |
|
| Net loss per ordinary
share attributable to ordinary
shareholders |
|
|
|
|
|
|
|
| Basic and diluted |
(1.38) |
|
|
(1.63) |
|
|
(2.25) |
|
|
(0.31) |
|
| |
|
|
|
|
|
|
|
| Weighted average
number of ADS used in computing net loss per
share |
|
|
|
|
|
|
|
| Basic and diluted |
859,081,432 |
|
|
861,684,832 |
|
|
864,990,174 |
|
|
864,990,174 |
|
| Net loss per ADS
attributable to ordinary shareholders |
|
|
|
|
|
|
|
| Basic and diluted |
(2.77) |
|
|
(3.25) |
|
|
(4.49) |
|
|
(0.62) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
XPENG INC.UNAUDITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS(All amounts
in thousands, except for ADS/ordinary share and per ADS/ordinary
share data) |
| |
|
| |
Three Months Ended |
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
|
| Loss from operations |
(2,176,831) |
|
|
(3,090,183) |
|
|
(3,160,828) |
|
|
(433,228) |
|
| Share-based compensation
expenses |
152,695 |
|
|
134,570 |
|
|
124,291 |
|
|
17,035 |
|
| Non-GAAP loss from
operations |
(2,024,136) |
|
|
(2,955,613) |
|
|
(3,036,537) |
|
|
(416,193) |
|
| Net loss |
(2,376,148) |
|
|
(2,804,652) |
|
|
(3,886,550) |
|
|
(532,696) |
|
| Fair value loss on derivative
liability |
- |
|
|
- |
|
|
971,832 |
|
|
133,201 |
|
| Share-based compensation
expenses |
152,695 |
|
|
134,570 |
|
|
124,291 |
|
|
17,035 |
|
| Non-GAAP net
loss |
(2,223,453) |
|
|
(2,670,082) |
|
|
(2,790,427) |
|
|
(382,460) |
|
| Net loss attributable to
ordinary shareholders |
(2,376,148) |
|
|
(2,804,652) |
|
|
(3,886,550) |
|
|
(532,696) |
|
| Fair value loss on derivative
liability |
- |
|
|
- |
|
|
971,832 |
|
|
133,201 |
|
| Share-based compensation
expenses |
152,695 |
|
|
134,570 |
|
|
124,291 |
|
|
17,035 |
|
| Non-GAAP net loss
attributable to ordinary shareholders of XPeng
Inc. |
(2,223,453) |
|
|
(2,670,082) |
|
|
(2,790,427) |
|
|
(382,460) |
|
| Weighted average
number of ordinary shares used in calculating Non-GAAP
net loss per share |
|
|
|
|
|
|
|
| Basic and diluted |
1,718,162,864 |
|
|
1,723,369,664 |
|
|
1,729,980,347 |
|
|
1,729,980,347 |
|
| Non-GAAP net loss per
ordinary share |
|
|
|
|
|
|
|
| Basic and diluted |
(1.29) |
|
|
(1.55) |
|
|
(1.61) |
|
|
(0.22) |
|
| Weighted average
number of ADS used in calculating Non-GAAP net loss
per share |
|
|
|
|
|
|
|
| Basic and diluted |
859,081,432 |
|
|
861,684,832 |
|
|
864,990,174 |
|
|
864,990,174 |
|
| Non-GAAP net loss per
ADS |
|
|
|
|
|
|
|
| Basic and diluted |
(2.59) |
|
|
(3.10) |
|
|
(3.23) |
|
|
(0.44) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
XPeng (NYSE:XPEV)
Historical Stock Chart
From Apr 2024 to May 2024
XPeng (NYSE:XPEV)
Historical Stock Chart
From May 2023 to May 2024
