XPENG Reports Third Quarter 2024 Unaudited Financial Results
XPENG reported strong Q3 2024 financial results with total revenues reaching RMB10.10 billion (US$1.44 billion), up 24.5% quarter-over-quarter. The company delivered 46,533 vehicles, representing a 16.3% increase year-over-year. Notably, gross margin reached a historical high of 15.3%, improving 18.0 percentage points from the same period in 2023. Vehicle margin improved to 8.6% from -6.1% year-over-year. Despite improvements, the company recorded a net loss of RMB1.81 billion. For Q4 2024, XPENG expects deliveries between 87,000-91,000 vehicles and revenues of RMB15.3-16.2 billion.
XPENG ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con ricavi totali che hanno raggiunto 10,10 miliardi di RMB (1,44 miliardi di dollari USA), in aumento del 24,5% rispetto al trimestre precedente. L'azienda ha consegnato 46.533 veicoli, rappresentando un incremento del 16,3% su base annuale. In particolare, il margine lordo ha raggiunto un massimo storico del 15,3%, migliorando di 18,0 punti percentuali rispetto allo stesso periodo del 2023. Il margine per veicolo è migliorato all'8,6% rispetto al -6,1% dell'anno precedente. Nonostante i miglioramenti, l'azienda ha registrato una perdita netta di 1,81 miliardi di RMB. Per il quarto trimestre del 2024, XPENG prevede consegne tra 87.000 e 91.000 veicoli e ricavi di 15,3-16,2 miliardi di RMB.
XPENG reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos totales alcanzando 10,10 mil millones de RMB (1,44 mil millones de dólares estadounidenses), un aumento del 24,5% con respecto al trimestre anterior. La compañía entregó 46,533 vehículos, lo que representa un incremento del 16,3% en comparación con el año anterior. Notablemente, el margen bruto alcanzó un máximo histórico de 15,3%, mejorando en 18,0 puntos porcentuales en comparación con el mismo período de 2023. El margen por vehículo mejoró al 8,6% desde el -6,1% en comparación con el año anterior. A pesar de las mejoras, la compañía registró una pérdida neta de 1,81 mil millones de RMB. Para el cuarto trimestre de 2024, XPENG espera entregas entre 87,000 y 91,000 vehículos e ingresos de 15,3 a 16,2 mil millones de RMB.
XPENG는 2024년 3분기 강력한 재무 실적을 보고했으며, 총 수익은 101억 RMB (14억 4천만 달러)에 달해, 전 분기 대비 24.5% 증가했습니다. 회사는 46,533 대의 차량을 인도하였으며, 이는 전년 대비 16.3% 증가한 수치입니다. 특히, 총 이익률은 15.3%로 역사적 최고치를 기록하며, 2023년 같은 기간에 비해 18.0 포인트 개선되었습니다. 차량당 이익률은 전년 대비 -6.1%에서 8.6%로 개선되었습니다. 개선에도 불구하고 회사는 18억 1천만 RMB의 순손실을 기록했습니다. 2024년 4분기 동안 XPENG는 87,000대에서 91,000대의 차량 인도와 153억에서 162억 RMB의 수익을 예상합니다.
XPENG a annoncé des résultats financiers solides pour le troisième trimestre 2024, avec des revenus totaux atteignant 10,10 milliards de RMB (1,44 milliard de dollars américains), en hausse de 24,5 % par rapport au trimestre précédent. L'entreprise a livré 46 533 véhicules, représentant une augmentation de 16,3 % par rapport à l'année précédente. Notamment, la marge brute a atteint un niveau record de 15,3 %, améliorant de 18,0 points de pourcentage par rapport à la même période en 2023. La marge par véhicule s'est améliorée à 8,6 % contre -6,1 % d'une année à l'autre. Malgré ces améliorations, l'entreprise a enregistré une perte nette de 1,81 milliard de RMB. Pour le quatrième trimestre 2024, XPENG prévoit des livraisons entre 87 000 et 91 000 véhicules et des revenus de 15,3 à 16,2 milliards de RMB.
XPENG berichtete über starke finanzielle Ergebnisse im dritten Quartal 2024, wobei die Gesamterlöse 10,10 Milliarden RMB (1,44 Milliarden US-Dollar) erreichten, was einem Anstieg von 24,5% im Vergleich zum vorherigen Quartal entspricht. Das Unternehmen lieferte 46.533 Fahrzeuge aus, was einem Anstieg von 16,3% im Jahresvergleich entspricht. Bemerkenswert ist, dass die Bruttomarge mit 15,3% einen historischen Höchststand erreichte und sich um 18,0 Prozentpunkte gegenüber dem gleichen Zeitraum 2023 verbesserte. Die Fahrzeugmarge verbesserte sich von -6,1% auf 8,6% im Jahresvergleich. Trotz der Verbesserungen verzeichnete das Unternehmen einen Nettoverlust von 1,81 Milliarden RMB. Für das vierte Quartal 2024 erwartet XPENG Auslieferungen zwischen 87.000 und 91.000 Fahrzeugen sowie Erlöse von 15,3 bis 16,2 Milliarden RMB.
- Total revenues increased 24.5% QoQ to RMB10.10 billion
- Vehicle deliveries grew 16.3% YoY to 46,533 units
- Gross margin reached historical high of 15.3%, up 18.0 pts YoY
- Vehicle margin improved to 8.6% from -6.1% YoY
- Strong Q4 guidance: 87,000-91,000 deliveries (+44.6-51.3% YoY)
- Net loss of RMB1.81 billion in Q3 2024
- Cash position decreased to RMB35.75 billion from RMB37.33 billion in Q2 2024
- R&D expenses increased 25.1% YoY to RMB1.63 billion
Insights
XPENG's Q3 results show significant operational improvements with
While still reporting a net loss of
The strategic collaboration with Volkswagen Group is bearing fruit through increased R&D service revenues, demonstrating XPENG's growing technological capabilities. Their expanding retail network of 639 stores across 206 cities and 1,557 charging stations shows strong infrastructure development. The successful launch of M03 and P7+ models, coupled with the company's focus on AI technology, positions them well in the competitive EV market.
The MSCI ESG "AAA" rating for two consecutive years adds credibility to their sustainable business practices, potentially attracting ESG-focused investors.
- Quarterly total revenues were RMB10.10 billion, a
24.5% increase quarter-over-quarter - Quarterly gross margin was
15.3% , reaching a historical high, an increase of 18.0 percentage points over the same period of 2023
GUANGZHOU, China, Nov. 19, 2024 (GLOBE NEWSWIRE) -- 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, 2024.
Operational and Financial Highlights for the Three Months Ended September 30, 2024
| 2024Q3 | 2024Q2 | 2024Q1 | 2023Q4 | 2023Q3 | 2023Q2 | |
| Total deliveries | 46,533 | 30,207 | 21,821 | 60,158 | 40,008 | 23,205 |
- Total deliveries of vehicles were 46,533 for the third quarter of 2024, representing an increase of
16.3% from 40,008 in the corresponding period of 2023. - XPENG’s physical sales network had a total of 639 stores, covering 206 cities as of September 30, 2024.
- XPENG self-operated charging station network reached 1,557 stations, including 654 XPENG S4 ultra-fast charging stations as of September 30, 2024.
- Total revenues were RMB10.10 billion (US
$1.44 billion ) for the third quarter of 2024, representing an increase of18.4% from the same period of 2023, and an increase of24.5% from the second quarter of 2024. - Revenues from vehicle sales were RMB8.80 billion (US
$1.25 billion ) for the third quarter of 2024, representing an increase of12.1% from the same period of 2023, and an increase of29.0% from the second quarter of 2024. - Gross margin was
15.3% for the third quarter of 2024, compared with negative2.7% for the same period of 2023 and14.0% for the second quarter of 2024. - Vehicle margin, which is gross profit or loss of vehicle sales as a percentage of vehicle sales revenue, was
8.6% for the third quarter of 2024, compared with negative6.1% for the same period of 2023 and6.4% for the second quarter of 2024. - Net loss was RMB1.81 billion (US
$0.26 billion ) for the third quarter of 2024, compared with RMB3.89 billion for the same period of 2023 and RMB1.28 billion for the second quarter of 2024. Excluding share-based compensation expenses, fair value loss on derivative liability and fair value gain (loss) on derivative liability relating to the contingent consideration, non-GAAP net loss was RMB1.53 billion (US$0.22 billion ) for the third quarter of 2024, compared with RMB2.79 billion for the same period of 2023 and RMB1.22 billion for the second quarter of 2024. - Net loss attributable to ordinary shareholders of XPENG was RMB1.81 billion (US
$0.26 billion ) for the third quarter of 2024, compared with RMB3.89 billion for the same period of 2023 and RMB1.28 billion for the second quarter of 2024. Excluding share-based compensation expenses, fair value loss on derivative liability and fair value gain (loss) on derivative liability relating to the contingent consideration, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB1.53 billion (US$0.22 billion ) for the third quarter of 2024, compared with RMB2.79 billion for the same period of 2023 and RMB1.22 billion for the second quarter of 2024. - Basic and diluted net loss per American depositary share (ADS) were both RMB1.91 (US
$0.27) and basic and diluted net loss per ordinary share were both RMB0.95 (US$0.14) for the third quarter of 2024. Each ADS represents two Class A ordinary shares. - Non-GAAP basic and diluted net loss per ADS were both RMB1.62 (US
$0.23) and non-GAAP basic and diluted net loss per ordinary share were both RMB0.81 (US$0.12) for the third quarter of 2024. - Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB35.75 billion (US
$5.09 billion ) as of September 30, 2024, compared with RMB37.33 billion as of June 30, 2024. 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, | |||
| 2024 | 2024 | 2023 | YoY | QoQ | |
| Vehicle sales | 8.80 | 6.82 | 7.84 | ||
| Vehicle margin | 8.6% | - | 14.7pts | 2.2pts | |
| Total revenues | 10.10 | 8.11 | 8.53 | ||
| Gross profit (loss) | 1.54 | 1.14 | (0.23) | ||
| Gross margin | 15.3% | - | 18.0pts | 1.3pts | |
| Net loss | 1.81 | 1.28 | 3.89 | - | |
| Non-GAAP net loss | 1.53 | 1.22 | 2.79 | - | |
| Net loss attributable to ordinary shareholders | 1.81 | 1.28 | 3.89 | - | |
| Non-GAAP net loss attributable to ordinary shareholders | 1.53 | 1.22 | 2.79 | - | |
| Comprehensive loss attributable to ordinary shareholders | 2.09 | 1.20 | 4.01 | - | |
| i Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented | |||||
Management Commentary
“Our core competences and execution capabilities have been significantly transformed. The successful launch of M03 and P7+ marks the beginning of a strong growth cycle underpinned by our major product cycles,” said Mr. Xiaopeng He, Chairman and CEO of XPENG. “I believe the next decade will be the era of AI. I am confident that I can lead XPENG to become a global AI auto company and accelerate the mass adoption of AI in mobility.”
“Through technology-driven cost reductions and significant quarter-over-quarter volume growth, our gross margin reached historical high at
Recent Developments
Deliveries in October 2024
- Total deliveries were 23,917 vehicles in October 2024.
- As of October 31, 2024, year-to-date total deliveries were 122,478 vehicles.
2024 XPENG AI Day
On November 6, 2024, XPENG hosted its 2024 AI Day event in Guangzhou. The Company unveiled its cutting-edge technologies and innovations, including XPENG Kunpeng Super Electric System, Turing AI Intelligent Driving System and AI Robot.
Launch of XPENG P7+
On November 7, 2024, XPENG officially launched the P7+, an AI-defined smart electric fastback sedan, and commenced mass delivery in the same month. The P7+ comes standard with end-to-end AI-driven advanced driver assistance system (ADAS) technology, offering industry-leading urban ADAS capabilities that do not rely on high-definition (HD) maps or LiDARs.
ESG Performance
XPENG has been awarded the highest “AAA” ESG rating by Morgan Stanley Capital International (“MSCI”) for the second consecutive year, being recognized for its outstanding performance in clean technology, product carbon footprint, and corporate governance.
XPENG is also the only company in China’s automotive manufacturing industry to have been named the “Industry Mover” by S&P Global for two consecutive years.
Unaudited Financial Results for the Three Months Ended September 30, 2024
Total revenues were RMB10.10 billion (US
Revenues from vehicle sales were RMB8.80 billion (US
Revenues from services and others were RMB1.31 billion (US
Cost of sales was RMB8.56 billion (US
Gross margin was
Vehicle margin was
Services and others margin was
Research and development expenses were RMB1.63 billion (US
Selling, general and administrative expenses were RMB1.63 billion (US
Other income, net was RMB0.04 billion (US
Fair value gain (loss) on derivative liability relating to the contingent consideration was loss of RMB0.16 billion (US
Loss from operations was RMB1.85 billion (US
Non-GAAP loss from operations, which excludes share-based compensation expenses, fair value loss on derivative liability and fair value gain (loss) on derivative liability relating to the contingent consideration, was RMB1.57 billion (US
Net loss was RMB1.81 billion (US
Non-GAAP net loss, which excludes share-based compensation expenses, fair value loss on derivative liability and fair value gain (loss) on derivative liability relating to the contingent consideration, was RMB1.53 billion (US
Net loss attributable to ordinary shareholders of XPENG was RMB1.81 billion (US
Non-GAAP net loss attributable to ordinary shareholders of XPENG, which excludes share-based compensation expenses, fair value loss on derivative liability and fair value gain (loss) on derivative liability relating to the contingent consideration, was RMB1.53 billion (US
Basic and diluted net loss per ADS were both RMB1.91 (US
Non-GAAP basic and diluted net loss per ADS were both RMB1.62 (US
Balance Sheets
As of September 30, 2024, the Company had cash and cash equivalents, restricted cash, short-term investments and time deposits of RMB35.75 billion (US
Business Outlook
For the fourth quarter of 2024, the Company expects:
- Deliveries of vehicles to be between 87,000 and 91,000, representing a year-over-year increase of approximately
44.6% to51.3% . - Total revenues to be between RMB15.3 billion and RMB16.2 billion, representing a year-over-year increase of approximately
17.2% to24.1% .
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 19, 2024 (9:00 PM Beijing/Hong Kong Time on November 19, 2024).
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 2024 Earnings Conference Call
Pre-registration link: https://s1.c-conf.com/diamondpass/10042900-9iletx.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 26, 2024, 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: | 10042900 | |
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://www.xpeng.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 gain (loss) on derivative liability and fair value gain on derivative liability relating to the contingent consideration, 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 RMB7.0176 to US
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 Enquiries
IR Department
XPeng Inc.
E-mail: ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
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.
| XPENG INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | ||||||
| December 31, 2023 | September 30, 2024 | September 30, 2024 | ||||
| RMB | RMB | US$ | ||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 21,127,163 | 10,660,654 | 1,519,131 | |||
| Restricted cash | 3,174,886 | 2,769,472 | 394,647 | |||
| Short-term deposits | 9,756,979 | 13,225,316 | 1,884,592 | |||
| Restricted short-term deposits | - | 138,328 | 19,712 | |||
| Short-term investments | 781,216 | 270,154 | 38,497 | |||
| Long-term deposits, current portion | 7,054,915 | 2,915,837 | 415,503 | |||
| Accounts and notes receivable, net | 2,716,216 | 2,335,452 | 332,799 | |||
| Installment payment receivables, net, current portion | 1,881,755 | 2,212,795 | 315,321 | |||
| Inventory | 5,526,212 | 6,142,463 | 875,294 | |||
| Amounts due from related parties | 12,948 | 44,536 | 6,346 | |||
| Prepayments and other current assets | 2,489,339 | 3,255,702 | 463,935 | |||
Total current assets | 54,521,629 | 43,970,709 | 6,265,777 | |||
Non-current assets | ||||||
| Long-term deposits | 3,035,426 | 3,860,904 | 550,174 | |||
| Restricted long-term deposits | 767,899 | 1,908,835 | 272,007 | |||
| Property, plant and equipment, net | 10,954,485 | 11,436,026 | 1,629,621 | |||
| Right-of-use assets, net | 1,455,865 | 1,224,553 | 174,497 | |||
| Intangible assets, net | 4,948,992 | 4,572,126 | 651,523 | |||
| Land use rights, net | 2,789,367 | 2,756,930 | 392,859 | |||
| Installment payment receivables, net | 3,027,795 | 4,457,984 | 635,258 | |||
| Long-term investments | 2,084,933 | 1,816,317 | 258,823 | |||
| Other non-current assets | 576,150 | 430,398 | 61,331 | |||
Total non-current assets | 29,640,912 | 32,464,073 | 4,626,093 | |||
Total assets | 84,162,541 | 76,434,782 | 10,891,870 | |||
| 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, 2023 | September 30, 2024 | September 30, 2024 | ||||
| RMB | RMB | US$ | ||||
| LIABILITIES | ||||||
| Current liabilities | ||||||
| Short-term borrowings | 3,889,100 | 4,410,002 | 628,420 | |||
| Accounts and notes payable | 22,210,431 | 16,864,060 | 2,403,109 | |||
| Amounts due to related parties | 30,880 | - | - | |||
| Operating lease liabilities, current portion | 365,999 | 320,550 | 45,678 | |||
| Finance lease liabilities, current portion | 34,382 | 35,131 | 5,006 | |||
| Deferred revenue, current portion | 630,997 | 863,330 | 123,024 | |||
| Long-term borrowings, current portion | 1,363,835 | 2,189,590 | 312,014 | |||
| Accruals and other liabilities | 7,580,195 | 7,334,737 | 1,045,192 | |||
| Income taxes payable | 5,743 | 8,187 | 1,167 | |||
Total current liabilities | 36,111,562 | 32,025,587 | 4,563,610 | |||
Non-current liabilities | ||||||
| Long-term borrowings | 5,650,782 | 6,377,610 | 908,802 | |||
| Operating lease liabilities | 1,490,882 | 1,308,628 | 186,478 | |||
| Finance lease liabilities | 777,697 | 774,722 | 110,397 | |||
| Deferred revenue | 668,946 | 688,724 | 98,142 | |||
| Derivative liability | 393,473 | 355,192 | 50,614 | |||
| Deferred tax liabilities | 404,018 | 367,769 | 52,407 | |||
| Other non-current liabilities | 2,336,654 | 2,509,284 | 357,570 | |||
Total non-current liabilities | 11,722,452 | 12,381,929 | 1,764,410 | |||
Total liabilities | 47,834,014 | 44,407,516 | 6,328,020 | |||
SHAREHOLDERS’ EQUITY | ||||||
| Class A Ordinary shares | 103 | 104 | 15 | |||
| Class B Ordinary shares | 21 | 21 | 3 | |||
| Additional paid-in capital | 70,198,031 | 70,528,009 | 10,050,161 | |||
| Statutory and other reserves | 60,035 | 88,434 | 12,602 | |||
| Accumulated deficit | (35,760,301) | (40,248,990) | (5,735,435) | |||
| Accumulated other comprehensive income | 1,830,638 | 1,659,688 | 236,504 | |||
Total shareholders' equity | 36,328,527 | 32,027,266 | 4,563,850 | |||
Total liabilities and shareholders’ equity | 84,162,541 | 76,434,782 | 10,891,870 | |||
| 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, | ||||
| 2023 | 2024 | 2024 | 2024 | ||||
| RMB | RMB | RMB | US$ | ||||
| Revenues | |||||||
| Vehicle sales | 7,844,239 | 6,818,867 | 8,795,011 | 1,253,279 | |||
| Services and others | 685,282 | 1,292,540 | 1,306,699 | 186,203 | |||
| Total revenues | 8,529,521 | 8,111,407 | 10,101,710 | 1,439,482 | |||
| Cost of sales | |||||||
| Vehicle sales | (8,319,890) | (6,384,289) | (8,039,240) | (1,145,583) | |||
| Services and others | (437,589) | (591,328) | (521,022) | (74,245) | |||
| Total cost of sales | (8,757,479) | (6,975,617) | (8,560,262) | (1,219,828) | |||
| Gross (loss) profit | (227,958) | 1,135,790 | 1,541,448 | 219,654 | |||
| Operating expenses | |||||||
| Research and development expenses | (1,305,868) | (1,466,752) | (1,633,071) | (232,711) | |||
| Selling, general and administrative expenses | (1,692,194) | (1,573,601) | (1,633,196) | (232,729) | |||
| Total operating expense | (2,998,062) | (3,040,353) | (3,266,267) | (465,440) | |||
| Other income, net | 65,192 | 278,843 | 39,908 | 5,687 | |||
| Fair value gain (loss) on derivative liability relating to the | |||||||
| contingent consideration | - | 16,662 | (162,185) | (23,111) | |||
| Loss from operations | (3,160,828) | (1,609,058) | (1,847,096) | (263,210) | |||
| Interest income | 314,004 | 356,682 | 318,021 | 45,318 | |||
| Interest expense | (65,767) | (81,399) | (83,461) | (11,893) | |||
| Fair value loss on derivative assets | |||||||
| or derivative liabilities | (971,832) | - | - | - | |||
| Investment loss on long-term investments | (8,782) | (35,836) | (216,768) | (30,889) | |||
| Exchange gain from foreign currency transactions | 5,972 | 20,801 | 47,565 | 6,778 | |||
| Other non-operating income, net | 4,282 | 3,525 | 6,444 | 918 | |||
| Loss before income tax (expenses) benefit and share | |||||||
| of results of equity method investees | (3,882,951) | (1,345,285) | (1,775,295) | (252,978) | |||
| Income tax (expenses) benefit | (682) | 33,773 | (7,025) | (1,001) | |||
| Share of results of equity method investees | (2,917) | 26,831 | (25,400) | (3,619) | |||
| Net loss | (3,886,550) | (1,284,681) | (1,807,720) | (257,598) | |||
| Net loss attributable to ordinary shareholders of XPeng Inc. | (3,886,550) | (1,284,681) | (1,807,720) | (257,598) | |||
| 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, | ||||
| 2023 | 2024 | 2024 | 2024 | ||||
| RMB | RMB | RMB | US$ | ||||
| Net loss | (3,886,550) | (1,284,681) | (1,807,720) | (257,598) | |||
| Other comprehensive loss | |||||||
| Foreign currency translation adjustment, net of tax | (123,081) | 86,709 | (284,343) | (40,519) | |||
Total comprehensive loss attributable to XPeng Inc. | (4,009,631) | (1,197,972) | (2,092,063) | (298,117) | |||
| Comprehensive loss attributable to ordinary shareholders | |||||||
| of XPeng Inc. | (4,009,631) | (1,197,972) | (2,092,063) | (298,117) | |||
Weighted average number of ordinary shares | |||||||
| used in computing net loss per ordinary share | |||||||
| Basic and diluted | 1,729,980,347 | 1,888,024,660 | 1,893,857,778 | 1,893,857,778 | |||
Net loss per ordinary share attributable to ordinary | |||||||
| shareholders | |||||||
| Basic and diluted | (2.25) | (0.68) | (0.95) | (0.14) | |||
Weighted average number of ADS used in computing net | |||||||
| loss per share | |||||||
| Basic and diluted | 864,990,174 | 944,012,330 | 946,928,889 | 946,928,889 | |||
Net loss per ADS attributable to ordinary shareholders | |||||||
| Basic and diluted | (4.49) | (1.36) | (1.91) | (0.27) | |||
| 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, | ||||
| 2023 | 2024 | 2024 | 2024 | ||||
| RMB | RMB | RMB | US$ | ||||
| Loss from operations | (3,160,828) | (1,609,058) | (1,847,096) | (263,210) | |||
| Fair value (gain) loss on derivative liability relating to the | |||||||
| contingent consideration | - | (16,662) | 162,185 | 23,111 | |||
| Share-based compensation expenses | 124,291 | 81,306 | 113,963 | 16,240 | |||
| Non-GAAP loss from operations | (3,036,537) | (1,544,414) | (1,570,948) | (223,859) | |||
| Net loss | (3,886,550) | (1,284,681) | (1,807,720) | (257,598) | |||
| Fair value (gain) loss on derivative liability relating to the | |||||||
| contingent consideration | - | (16,662) | 162,185 | 23,111 | |||
| Fair value loss on derivative liability | 971,832 | - | - | - | |||
| Share-based compensation expenses | 124,291 | 81,306 | 113,963 | 16,240 | |||
| Non-GAAP net loss | (2,790,427) | (1,220,037) | (1,531,572) | (218,247) | |||
| Net loss attributable to ordinary shareholders | (3,886,550) | (1,284,681) | (1,807,720) | (257,598) | |||
| Fair value (gain) loss on derivative liability relating to the | |||||||
| contingent consideration | - | (16,662) | 162,185 | 23,111 | |||
| Fair value loss on derivative liability | 971,832 | - | - | - | |||
| Share-based compensation expenses | 124,291 | 81,306 | 113,963 | 16,240 | |||
| Non-GAAP net loss attributable to ordinary shareholders of | |||||||
| XPeng Inc. | (2,790,427) | (1,220,037) | (1,531,572) | (218,247) | |||
Weighted average number of ordinary shares used | |||||||
| in calculating Non-GAAP net loss per share | |||||||
| Basic and diluted | 1,729,980,347 | 1,888,024,660 | 1,893,857,778 | 1,893,857,778 | |||
Non-GAAP net loss per ordinary share | |||||||
| Basic and diluted | (1.61) | (0.65) | (0.81) | (0.12) | |||
Weighted average number of ADS used in calculating | |||||||
| Non-GAAP net loss per share | |||||||
| Basic and diluted | 864,990,174 | 944,012,330 | 946,928,889 | 946,928,889 | |||
Non-GAAP net loss per ADS | |||||||
| Basic and diluted | (3.23) | (1.29) | (1.62) | (0.23) | |||
FAQ
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