XPENG Reports First Quarter 2023 Unaudited Financial Results
XPeng Inc. announced its unaudited financial results for the first quarter of 2023. Total deliveries decreased by 17.9% compared to the previous quarter. Total revenues decreased by 45.9% year-over-year and 21.5% quarter-over-quarter. Gross margin was 1.7% and net loss was RMB2.34 billion.
Positive
Total deliveries decreased by 17.9% from the previous quarter.
Total revenues decreased by 45.9% year-over-year and 21.5% quarter-over-quarter.
Gross margin was 1.7% for the first quarter of 2023.
Net loss was RMB2.34 billion for the first quarter of 2023.
Negative
Total deliveries decreased by 17.9% compared to the previous quarter.
Total revenues decreased by 45.9% year-over-year and 21.5% quarter-over-quarter.
Gross margin was 1.7% for the first quarter of 2023.
Net loss was RMB2.34 billion for the first quarter of 2023.
05/24/2023 - 06:00 AM
Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB34.12 billion (US$4.97 billion ) as of March 31, 2023
Quarterly total revenues were RMB4.03 billion , a 21.5% decrease quarter-over-quarter
Quarterly gross margin was 1.7% , a decrease of 7.0 percentage points quarter-over-quarter
GUANGZHOU, China --(BUSINESS WIRE)--
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 March 31, 2023.
Operationa l and Financial Highlights for the Three Months Ended March 31, 2023
2023Q1
2022Q4
2022Q3
2022Q2
2022Q1
2021Q4
Total deliveries
18,230
22,204
29,570
34,422
34,561
41,751
Total deliveries of vehicles were 18,230 in the first quarter of 2023, representing a decrease of 17.9% from 22,204 for the fourth quarter of 2022.
XPENG’s physical sales network continued expansion with a total of 425 stores, covering 145 cities as of March 31, 2023.
XPENG self-operated charging station network reached 1,016 stations, including 816 XPENG self-operated supercharging stations and 200 destination charging stations as of March 31, 2023.
Total revenues were RMB4.03 billion (US$0.59 billion ) for the first quarter of 2023, representing a decrease of 45.9% from the same period of 2022, and a decrease of 21.5% from the fourth quarter of 2022.
Revenues from vehicle sales were RMB3.51 billion (US$0.51 billion ) for the first quarter of 2023, representing a decrease of 49.8% from the same period of 2022, and a decrease of 24.6% from the fourth quarter of 2022.
Gross margin was 1.7% for the first quarter of 2023, compared with 12.2% for the same period of 2022 and 8.7% for the fourth quarter of 2022.
Vehicle margin , which is gross profit or loss of vehicle sales as a percentage of vehicle sales revenue, was negative 2.5% for the first quarter of 2023, compared with 10.4% for the same period of 2022 and 5.7% for the fourth quarter of 2022.
Net loss was RMB2.34 billion (US$0.34 billion ) for the first quarter of 2023, compared with RMB1.70 billion for the same period of 2022 and RMB2.36 billion for the fourth quarter of 2022. Excluding share-based compensation expenses, non-GAAP net loss was RMB2.21 billion (US$0.32 billion ) in the first quarter of 2023, compared with RMB1.53 billion for the same period of 2022 and RMB2.21 billion for the fourth quarter of 2022.
Net loss attributable to ordinary shareholders of XPENG was RMB2.34 billion (US$0.34 billion ) for the first quarter of 2023, compared with RMB1.70 billion for the same period of 2022 and RMB2.36 billion in the fourth quarter of 2022. Excluding share-based compensation expenses, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB2.21 billion (US$0.32 billion ) for the first quarter of 2023, compared with RMB1.53 billion for the same period of 2022 and RMB2.21 billion for the fourth quarter of 2022.
Basic and diluted net loss per American depositary share (ADS) were both RMB2.71 (US$0.40 ) and basic and diluted net loss per ordinary share were both RMB1.36 (US$0.20 ) for the first quarter of 2023.
Non-GAAP basic and diluted net loss per ADS were both RMB2.57 (US$0.37 ) and non-GAAP basic and diluted net loss per ordinary share were both RMB1.28 (US$0.19 ) for the first quarter of 2023. Each ADS represents two Class A ordinary shares.
Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB34.12 billion (US$4.97 billion ) as of March 31, 2023, compared with RMB41.71 billion as of March 31, 2022 and RMB38.25 billion as of December 31, 2022. 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
March 31,
December 31,
March 31,
2023
2022
2022
YoY
QoQ
Vehicle sales
3.51
4.66
7.00
-49.8
%
-24.6
%
Vehicle margin
-2.5%
5.7%
10.4%
-12.9pts
-8.2pts
Total revenues
4.03
5.14
7.45
-45.9
%
-21.5
%
Gross profit
0.07
0.45
0.91
-92.6
%
-84.9
%
Gross margin
1.7%
8.7%
12.2%
-10.5pts
-7.0pts
Net loss
2.34
2.36
1.70
37.4
%
-1.0
%
Non-GAAP net loss
2.21
2.21
1.53
44.8
%
0.0
%
Net loss attributable to
ordinary shareholders
2.34
2.36
1.70
37.4
%
-1.0
%
Non-GAAP net loss
attributable to
ordinary shareholders
2.21
2.21
1.53
44.8
%
0.0
%
Comprehensive loss
attributable to
ordinary shareholders
2.58
2.68
1.80
43.5
%
-3.7
%
i Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented
Management Commentary
“During the first quarter of 2023, I took actions to make changes to our strategy, organizational structure and senior management team decisively. I am fully confident in taking our Company into a virtuous cycle driving product sales growth, team morale, customer satisfaction and brand reputation over the next few quarters,” said Mr. He Xiaopeng, Chairman and CEO of XPENG. “G6, the first production model built on XPENG’s next-generation technology architecture SEPA2.0, will be officially launched in June 2023. I believe the G6 will emerge as one of the most popular, best-selling models in China’s NEV SUV market segment with price range between RMB200,000 to RMB300,000 .”
“Going forward, our top priority remains to accelerate growth in sales and market share,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of XPENG. “As the upcoming G6 launch and other new product launches fuel rapid sales growth, we expect our cash flow from operations to improve significantly.”
Recen t Developments
Deliveries in April 2023
Total deliveries were 7,079 vehicles in April 2023.
As of April 30, 2023, year-to-date total deliveries were 25,309 vehicles.
XPENG Introduced Next-Gen Technology Architecture — SEPA2.0
On April 16, 2023, XPENG unveiled its next-generation end-to-end integrated technology architecture SEPA2.0 (Smart Electric Platform Architecture), which sets the foundation for future production models. SEPA2.0 optimizes R&D efficiency, lowers cost and enhances product experience.
Unaudite d Financial Results for the Three Months Ended March 31, 2023
Total revenues were RMB4.03 billion (US$0.59 billion ) for the first quarter of 2023, representing a decrease of 45.9% from RMB7.45 billion for the same period of 2022 and a decrease of 21.5% from RMB5.14 billion for the fourth quarter of 2022.
Revenues from vehicle sales were RMB3.51 billion (US$0.51 billion ) for the first quarter of 2023, representing a decrease of 49.8% from RMB7.00 billion for the same period of 2022 and a decrease of 24.6% from RMB4.66 billion for the fourth quarter of 2022. The year-over-year and quarter-over-quarter decreases were mainly attributable to lower vehicle deliveries and discontinuation of new energy vehicle subsidy.
Revenues from services and others were RMB0.52 billion (US$0.08 billion ) for the first quarter of 2023, representing an increase of 13.9% from RMB0.46 billion for the same period of 2022 and an increase of 8.4% from RMB0.48 billion for the fourth quarter of 2022. The year-over-year and quarter-over-quarter increases were mainly attributable to the increase of parts, supercharging service and other service sales, which is in line with higher accumulated vehicle sales.
Cost of sales was RMB3.97 billion (US$0.58 billion ) for the first quarter of 2023, representing a decrease of 39.4% from RMB6.54 billion for the same period of 2022 and a decrease of 15.5% from RMB4.70 billion for the fourth quarter of 2022. The year-over-year and quarter-over-quarter decreases were mainly in line with vehicle deliveries as described above.
Gross margin was 1.7% for the first quarter of 2023, compared with 12.2% and 8.7% for the first quarter of 2022 and the fourth quarter of 2022, respectively.
Vehicle margin was negative 2.5% for the first quarter of 2023, compared with 10.4% for the same period of 2022 and 5.7% for the fourth quarter of 2022. The year-over-year and quarter-over-quarter decreases were explained by increased sales promotions and the expiry of new energy vehicle subsidy mentioned above.
Research and development expenses were RMB1.30 billion (US$0.19 billion ) for the first quarter of 2023, representing an increase of 6.1% from RMB1.22 billion for the same period of 2022 and an increase of 5.3% from RMB1.23 billion for the fourth quarter of 2022. The year-over-year and quarter-over-quarter increases were mainly due to higher expenses relating to the development of new vehicles models to support future growth.
Selling, general and administrative expenses were RMB1.39 billion (US$0.20 billion ) for the first quarter of 2023, representing a decrease of 15.5% from RMB1.64 billion for the same period of 2022 and a decrease of 21.0% from RMB1.76 billion for the fourth quarter of 2022. The year-over-year and quarter-over-quarter decreases were mainly due to the decrease of commission to the franchised stores and lower marketing and advertising expenses.
Loss from operations was RMB2.59 billion (US$0.38 billion ) for the first quarter of 2023, compared with RMB1.92 billion for the same period of 2022 and RMB2.52 billion for the fourth quarter of 2022.
Non-GAAP loss from operations , which excludes share-based compensation expenses, was RMB2.46 billion (US$0.36 billion ) for the first quarter of 2023, compared with RMB1.75 billion for the same period of 2022 and RMB2.37 billion for the fourth quarter of 2022.
Net loss was RMB2.34 billion (US$0.34 billion ) for the first quarter of 2023, compared with RMB1.70 billion for the same period of 2022 and RMB2.36 billion for the fourth quarter of 2022.
Non-GAAP net loss , which excludes share-based compensation expenses, was RMB2.21 billion (US$0.32 billion ) for the first quarter of 2023, compared with RMB1.53 billion for the same period of 2022 and RMB2.21 billion for the fourth quarter of 2022.
Net loss attributable to ordinary shareholders of XPENG was RMB2.34 billion (US$0.34 billion ) for the first quarter of 2023, compared with RMB1.70 billion for the same period of 2022 and RMB2.36 billion for the fourth quarter of 2022.
Non-GAAP net loss attributable to ordinary shareholders of XPENG , which excludes share-based compensation expenses, was RMB2.21 billion (US$0.32 billion ) for the first quarter of 2023, compared with RMB1.53 billion for the same period of 2022 and RMB2.21 billion for the fourth quarter of 2022.
Basic and diluted net loss per ADS were both RMB2.71 (US$ 0.40 ) for the first quarter of 2023, compared with RMB2.00 for the first quarter of 2022 and RMB2.74 for the fourth quarter of 2022.
Non-GAAP basic and diluted net loss per ADS were both RMB2.57 (US$ 0.37 ) for the first quarter of 2023, compared with RMB1.80 for the first quarter of 2022 and RMB2.57 for the fourth quarter of 2022.
Balanc e Sheets
As of March 31, 2023, the Company had cash and cash equivalents, restricted cash, short-term investments and time deposits of RMB34.12 billion (US$4.97 billion ), compared with RMB41.71 billion as of March 31, 2022 and RMB38.25 billion as of December 31, 2022.
Business Outlook
For the second quarter of 2023 , the Company expects:
Deliveries of vehicles to be between 21,000 and 22,000, representing a year-over-year decrease of approximately 36.1% to 39.0% .
Total revenues to be between RMB4.5 billion and RMB4.7 billion , representing a year-over-year decrease of approximately 36.8% to 39.5% .
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.
Conferenc e Call
The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 24, 2023 (8:00 PM Beijing/Hong Kong Time on May 24, 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.
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 May 31, 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:
10030387
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, 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 RMB6.8676 to US$1.00 , the exchange rate on March 31, 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, 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 ADS/ordinary share and per ADS/ordinary share data)
December 31,
March 31,
March 31,
2022
2023
2023
RMB
RMB
US$
ASSETS
Current assets
Cash and cash equivalents
14,607,774
8,826,056
1,285,173
Restricted cash
106,272
312,437
45,494
Short-term deposits
14,921,688
13,279,498
1,933,645
Restricted short-term deposits
-
1,010,000
147,067
Short-term investments
1,262,129
1,598,566
232,769
Long-term deposits, current portion
427,466
970,681
141,342
Accounts and notes receivable, net
3,872,846
3,743,425
545,085
Installment payment receivables, net, current portion
1,294,665
1,413,029
205,753
Inventory
4,521,373
4,324,646
629,717
Amounts due from related parties
47,124
33,806
4,923
Prepayments and other current assets
2,466,084
2,547,619
370,962
Total current assets
43,527,421
38,059,763
5,541,930
Non-current assets
Long-term deposits
6,926,450
7,570,857
1,102,402
Restricted long-term deposits
-
550,000
80,086
Property, plant and equipment, net
10,606,745
10,880,076
1,584,262
Right-of-use assets, net
1,954,618
1,916,406
279,050
Intangible assets, net
1,042,972
1,115,110
162,373
Land use rights, net
2,747,854
2,735,807
398,364
Installment payment receivables, net
2,188,643
2,187,485
318,522
Long-term investments
2,295,032
2,276,929
331,547
Other non-current assets
201,271
166,602
24,259
Total non-current assets
27,963,585
29,399,272
4,280,865
Total assets
71,491,006
67,459,035
9,822,795
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,
March 31,
March 31,
2022
2023
2023
RMB
RMB
US$
LIABILITIES
Current liabilities
Short-term borrowings
2,419,210
3,609,210
525,542
Accounts and notes payable
14,222,856
11,448,089
1,666,971
Amount due to related parties
91,111
29,765
4,334
Operating lease liabilities, current portion
490,811
480,955
70,032
Finance lease liabilities, current portion
128,279
99,054
14,423
Deferred revenue, current portion
389,243
414,483
60,353
Long-term borrowings, current portion
761,859
689,178
100,352
Accruals and other liabilities
5,583,829
5,837,433
849,996
Income taxes payable
27,655
24,174
3,520
Total current liabilities
24,114,853
22,632,341
3,295,523
Non-current liabilities
Long-term borrowings
4,613,057
5,112,882
744,493
Operating lease liabilities
1,854,576
1,825,683
265,840
Finance lease liabilities
797,743
792,932
115,460
Deferred revenue
694,006
697,122
101,509
Other non-current liabilities
2,506,106
1,943,683
283,022
Total non-current liabilities
10,465,488
10,372,302
1,510,324
Total liabilities
34,580,341
33,004,643
4,805,847
SHAREHOLDERS’ EQUITY
Class A Ordinary shares
92
92
13
Class B Ordinary shares
21
21
3
Additional paid in capital
60,691,019
60,815,657
8,855,445
Statutory reserves
6,425
6,425
936
Accumulated deficit
(25,330,916
)
(27,667,874
)
(4,028,754
)
Accumulated other comprehensive income
1,544,024
1,300,071
189,305
Total shareholders' equity
36,910,665
34,454,392
5,016,948
Total liabilities and shareholders’ equity
71,491,006
67,459,035
9,822,795
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
March 31,
December 31,
March 31,
March 31,
2022
2022
2023
2023
RMB
RMB
RMB
US$
Revenues
Vehicle sales
6,998,815
4,661,182
3,513,767
511,644
Services and others
456,123
479,167
519,653
75,667
Total revenues
7,454,938
5,140,349
4,033,420
587,311
Cost of sales
Vehicle sales
(6,271,499
)
(4,397,201
)
(3,600,529
)
(524,278
)
Services and others
(272,710
)
(298,084
)
(365,859
)
(53,273
)
Total cost of sales
(6,544,209
)
(4,695,285
)
(3,966,388
)
(577,551
)
Gross profit
910,729
445,064
67,032
9,760
Operating expenses
Research and development expenses
(1,221,278
)
(1,230,049
)
(1,295,854
)
(188,691
)
Selling, general and administrative
expenses
(1,641,575
)
(1,755,815
)
(1,386,620
)
(201,908
)
Total operating expenses
(2,862,853
)
(2,985,864
)
(2,682,474
)
(390,599
)
Other income, net
31,659
23,357
30,065
4,378
Loss from operations
(1,920,465
)
(2,517,443
)
(2,585,377
)
(376,461
)
Interest income
227,944
273,367
299,741
43,646
Interest expense
(19,834
)
(51,079
)
(62,667
)
(9,125
)
Fair value (loss) gain on derivative assets or
derivative liabilities
(18,249
)
1,398
-
-
Fair value (loss) gain on long-term
investments
(17,249
)
(102,798
)
8,440
1,229
Exchange gain (loss) from foreign currency
transactions
46,405
(17,454
)
2,083
303
Other non-operating income, net
3,105
37,761
6,002
874
Loss before income tax expenses and
share of results of equity method
investees
(1,698,343
)
(2,376,248
)
(2,331,778
)
(339,534
)
Income tax (expenses) benefit
(2,424
)
10,445
(6,157
)
(897
)
Share of results of equity method investees
-
4,628
977
142
Net loss
(1,700,767
)
(2,361,175
)
(2,336,958
)
(340,289
)
Net loss attributable to ordinary
shareholders of XPeng Inc.
(1,700,767
)
(2,361,175
)
(2,336,958
)
(340,289
)
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
March 31,
December 31,
March 31,
March 31,
2022
2022
2023
2023
RMB
RMB
RMB
US$
Net loss
(1,700,767
)
(2,361,175
)
(2,336,958
)
(340,289
)
Other comprehensive loss
Foreign currency translation adjustment,
net of nil tax
(98,312
)
(318,072
)
(243,953
)
(35,522
)
Total comprehensive loss
attributable to XPeng Inc.
(1,799,079
)
(2,679,247
)
(2,580,911
)
(375,811
)
Comprehensive loss attributable to
ordinary shareholders of XPeng Inc.
(1,799,079
)
(2,679,247
)
(2,580,911
)
(375,811
)
Weighted average number of ordinary
shares used in computing net loss per
ordinary share
Basic and diluted
1,702,708,311
1,720,448,811
1,722,080,453
1,722,080,453
Net loss per ordinary share attributable
to ordinary shareholders
Basic and diluted
(1.00
)
(1.37
)
(1.36
)
(0.20
)
Weighted average number of ADS used
in computing net loss per share
Basic and diluted
851,354,156
860,224,405
861,040,227
861,040,227
Net loss per ADS attributable to
ordinary shareholders
Basic and diluted
(2.00
)
(2.74
)
(2.71
)
(0.40
)
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
March 31,
December 31,
March 31,
March 31,
2022
2022
2023
2023
RMB
RMB
RMB
US$
Loss from operations
(1,920,465
)
(2,517,443
)
(2,585,377
)
(376,461
)
Share-based compensation expenses
172,539
148,783
124,638
18,149
Non-GAAP loss from operations
(1,747,926
)
(2,368,660
)
(2,460,739
)
(358,312
)
Net loss
(1,700,767
)
(2,361,175
)
(2,336,958
)
(340,289
)
Share-based compensation expenses
172,539
148,783
124,638
18,149
Non-GAAP net loss
(1,528,228
)
(2,212,392
)
(2,212,320
)
(322,140
)
Net loss attributable to ordinary
shareholders
(1,700,767
)
(2,361,175
)
(2,336,958
)
(340,289
)
Share-based compensation expenses
172,539
148,783
124,638
18,149
Non-GAAP net loss attributable to
ordinary shareholders of XPeng Inc.
(1,528,228
)
(2,212,392
)
(2,212,320
)
(322,140
)
Weighted average number of ordinary
shares used in calculating Non-
GAAP net loss per share
Basic and diluted
1,702,708,311
1,720,448,811
1,722,080,453
1,722,080,453
Non-GAAP net loss per ordinary share
Basic and diluted
(0.90
)
(1.29
)
(1.28
)
(0.19
)
Weighted average number of ADS used
in calculating Non-GAAP net loss
per share
Basic and diluted
851,354,156
860,224,405
861,040,227
861,040,227
Non-GAAP net loss per ADS
Basic and diluted
(1.80
)
(2.57
)
(2.57
)
(0.37
)
View source version on businesswire.com: https://www.businesswire.com/news/home/20230524005350/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
PR Department
XPeng Inc.
E-mail: pr@xiaopeng.com
Source: XPeng Inc.
What were XPeng's total deliveries for the first quarter of 2023?
XPeng's total deliveries for the first quarter of 2023 were 18,230 vehicles, representing a decrease of 17.9% from the previous quarter.
What were XPeng's total revenues for the first quarter of 2023?
XPeng's total revenues for the first quarter of 2023 were RMB4.03 billion, representing a decrease of 45.9% year-over-year and 21.5% quarter-over-quarter.
What was XPeng's gross margin for the first quarter of 2023?
XPeng's gross margin for the first quarter of 2023 was 1.7%.
What was XPeng's net loss for the first quarter of 2023?
XPeng's net loss for the first quarter of 2023 was RMB2.34 billion.