• Quarterly total revenues reached RMB2,950.9
million, a 616.1% increase year-over-year • Quarterly vehicle
deliveries were 13,340 units • Quarterly gross margin reached
11.2%
XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading
Chinese smart electric vehicle (“Smart EV”) company, today
announced its unaudited financial results for the first quarter
ended March 31, 2021.
This press release features multimedia. View
the full release here:
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XPeng vehicles on display (Photo:
Business Wire)
First Quarter 2021 Operational
Highlights
- Deliveries of vehicles reached 13,340 in the first
quarter of 2021, representing an increase of 487.4% from 2,271 in
the corresponding period of 2020 and an increase of 2.9% from
12,964 in the fourth quarter of 2020.
- Among the total P7s delivered as of the quarter, 96% can
support XPILOT 2.5 or XPILOT 3.0.
- As of March 31, 2021, XPeng’s physical sales and service
network consisted of a total of 178 stores and 61 service centers,
covering 70 cities.
- As of March 31, 2021, XPeng-branded super charging stations
expanded to 172, covering 60 cities.
First Quarter 2021 Financial
Highlights
- Total revenues were RMB2,950.9 million (US$450.4
million) for the first quarter of 2021, representing an increase of
616.1% from RMB412.1 million for the same period of 2020 and an
increase of 3.5% from RMB2,851.4 million for the fourth quarter of
2020.
- Revenues from vehicle sales were RMB2,810.3 million
(US$428.9 million) for the first quarter of 2021, representing an
increase of 655.2% from RMB372.2 million for the same period of
2020, and an increase of 2.7% from RMB2,735.4 million for the
fourth quarter of 2020.
- Gross margin was 11.2% for the first quarter of 2021,
compared with negative 4.8% for the same period of 2020 and 7.4%
for the fourth quarter of 2020.
- Vehicle margin, which is gross profit of vehicle sales
as a percentage of revenues from vehicle sales, was 10.1% for the
first quarter of 2021, compared to negative 5.3% for the same
period of 2020 and 6.8% for the fourth quarter of 2020.
- Net loss was RMB786.6 million (US$120.1 million) for the
first quarter of 2021, compared with RMB649.8 million for the same
period of 2020 and RMB787.4 million for the fourth quarter of 2020.
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 RMB696.3 million
(US$106.3 million) in the first quarter of 2021, compared with
RMB644.8 million for the same period of 2020 and RMB712.6 million
for the fourth quarter of 2020.
- Net loss attributable to ordinary shareholders of XPeng
Inc. was RMB786.6 million (US$120.1 million) for the first
quarter of 2021, compared with RMB935.1 million for the same period
of 2020 and RMB787.4 million in the fourth quarter of 2020.
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
Inc. was RMB696.3 million (US$106.3 million) for the first
quarter of 2021, compared with RMB644.8 million for the same period
of 2020 and RMB712.6 million for the fourth quarter of 2020.
- Basic and diluted net loss per American depositary share
(ADS) were both RMB0.99 (US$0.15) for the first quarter of
2021. Non-GAAP basic and diluted net loss per ADS were both
RMB0.88 (US$0.13) for the first 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
RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.
“The first quarter kicked off a great start to 2021 with a
record-breaking vehicle deliveries notwithstanding seasonally
slower demand for automobiles and the semiconductor shortage,” said
Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in
the quarter was propelled by our industry-leading full-stack
autonomous driving technology, solid differentiated product
strategy and our vision to lead Smart EV development and
transformation.
“Notably, since releasing OTA updates for XPILOT 3.0 in late
January, we are now recognizing revenues from our proprietary
XPILOT software. As we continue to grow with rapid technology
iterations powered by our full-stack in-house R&D capabilities
and strong closed-loop data capabilities, I believe that XPILOT’s
software monetization will become recurring revenues as part of the
revenues from our vehicle sales.
“Rapid software iterations also support our ability to
continuously introduce new vehicle models featuring more powerful
hardware. The debut of the P5, the world’s first mass-produced
LiDAR-equipped Smart EV, underlines our mission to shape the
mobility experience of the future.
“Looking ahead, we remain dedicated to our long-term strategic
roadmap and technology innovations to fuel Smart EV transformation.
Additionally, we will continue long-term investments in building
out our sales, service and charging facilities, as well as our
production and supply chain capabilities to support vigorous growth
over the next few years,” Mr. He added.
“XPeng’s robust performance in the first quarter of 2021
demonstrates our strong capabilities to make differentiated Smart
EVs that appeal to various needs of a large and growing customer
base,” said Dr. Brian Gu, Vice Chairman and President of XPeng.
“Thanks to our record-breaking deliveries in this quarter, our
revenues reached RMB2,950.9 million in Q1, representing
year-over-year growth of 616.1%. We also witnessed further
improvement in our profitability. In particular, our gross margin
continued the upward trend and reached 11.2% in the quarter.
“Additionally, the revenue realized from our proprietary
software reflect that we are at the forefront of the industry in
autonomous driving software subscription. Moreover, our sound
financial condition and strong cash position enable us to better
execute our growth strategies, cement competitive advantages and
grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu
concluded.
Recent Developments
Deliveries in April 2021
Total Smart EV deliveries reached 5,147 units in April 2021,
representing a 285.3% increase year-over-year. The April deliveries
consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s,
XPeng’s compact smart SUV. As of April 30, 2021, year-to-date
deliveries reached 18,487 units, representing a 412.5% increase
year-over-year.
New Smart EV Manufacturing Base
On April 8, 2021, XPeng entered into a cooperation agreement
with the City of Wuhan to develop and build the XPeng Motors Wuhan
Smart EV Manufacturing Base (“Wuhan Base”).
Supported by the Wuhan government, XPeng will commence the
construction of the new Wuhan Base, featuring manufacturing and
powertrain plants as well as R&D facilities. With an annual
capacity by 100,000 units, the Wuhan Base will further bolster
XPeng’s ability to capture growing consumer demand for Smart
EVs.
Expanding into China’s major auto manufacturing hub with strong
local government support is another landmark in XPeng’s strategic
development, and cements its leadership position in the Smart EV
sector.
Debut of Third Production Model
In April 2021, XPeng debuted its third production model, the
XPeng P5 smart sedan, which is the world’s first mass-produced
Smart EV equipped with automotive-grade LiDAR technology. Powered
by XPeng’s full-stack in-house developed autonomous driving
technology – XPILOT and intelligent in-car operating system – Xmart
OS, the P5 will provide users with market-leading Smart EV driving
experience on the XPILOT 3.5 and the Xmart OS 3.0.
Forming New Strategic Partnership
On April 15, 2021, XPeng entered into a Memorandum of
Understanding with Zhongsheng Group to establish a long-term
strategic partnership to deliver both XPeng’s industry-leading
Smart EV products and Zhongsheng’s high quality services to
consumers, in order to further boost the Smart EV transformation in
China.
First Quarter 2021 Unaudited Financial
Results
Total revenues were RMB2,950.9 million (US$450.4 million)
for the first quarter of 2021, representing an increase of 616.1%
from RMB412.1 million for the same period of 2020 and an increase
of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.
Revenues from vehicle sales were RMB2,810.3 million (US$428.9
million) for the first quarter of 2021, representing an increase of
655.2% from RMB372.2 million for the same period of 2020 and an
increase of 2.7% from RMB2,735.4 million for the fourth quarter of
2020. The year-over-year increase was mainly due to delivery of the
P7, which started at the end of June 2020. The quarter-over-quarter
increase was primarily attributable to the revenue recognition on
XPILOT 3.0 software in the first quarter of 2021 since the
functionality was delivered to an accumulated group of software
purchasers, partially offset by the lower government subsidy for
the new energy vehicle starting from January this year.
Revenues from services and others were RMB140.6 million (US$21.5
million) for the first quarter of 2021, representing an increase of
252.2% from RMB39.9 million for the same period of 2020 and an
increase of 21.3% from RMB115.9 million for the fourth quarter of
2020. The year-over-year and the quarter-over-quarter increases
were mainly attributed to higher sales of parts, accessories, and
services in line with higher accumulated vehicle sales.
Cost of sales was RMB2,621.1 million (US$400.1 million)
for the first quarter of 2021, representing an increase of 506.8%
from RMB431.9 million for the same period of 2020, and a decrease
of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The
year-over-year increase was mainly due to the increase of vehicle
deliveries as described above, while the quarter-over-quarter
decrease was mainly due to favorable material cost reduction.
Gross margin was 11.2% for the first quarter of 2021,
compared to negative 4.8% and 7.4% for the first quarter of 2020
and the fourth quarter of 2020, respectively.
Vehicle margin was 10.1% for the first quarter of 2021,
compared to negative 5.3% for the same period of 2020 and 6.8% for
the fourth quarter of 2020. The improvement was primarily
attributable to material cost reduction and revenue recognition of
XPILOT software sales.
Research and development expenses were RMB535.1 million
(US$81.7 million) for the first quarter of 2021, representing an
increase of 72.2% from RMB310.8 million for the same period of 2020
and an increase of 16.3% from RMB460.0 million for the fourth
quarter of 2020. The year-over-year increase was mainly due to (i)
the increase in employee compensation as a result of expanded
research and development staff, (ii) higher expenses relating to
the P5 development, and (iii) share-based compensation expenses
recognized in the first quarter of 2021. The quarter-over-quarter
increase was mainly due to (i) the increase in employee
compensation in line with increasing engineering staff, and (ii)
higher expenses relating to the development of the P5.
Selling, general and administrative expenses were
RMB720.8 million (US$110.0 million) for the first quarter of 2021,
representing an increase of 124.0% from RMB321.8 million for the
same period of 2020 and a decrease of 21.5% from RMB917.9 million
for the fourth quarter of 2020. The year-over-year increase was
mainly due to (i) higher marketing, promotional and advertising
expenses to support vehicle sales, (ii) the expansion of our sales
network and associated personnel cost, lease expenses for sales and
service stores, and commission for the franchised stores, and (iii)
share-based compensation expenses recognized in the first quarter
of 2021. The quarter-over-quarter decrease was mainly due to lower
marketing, promotional and advertising expenses compared with peak
sales season in the fourth quarter.
Loss from operations was RMB903.9 million (US$138.0
million) for the first quarter of 2021, compared with RMB649.3
million for the same period of 2020 and RMB1,121.2 million for the
fourth quarter of 2020.
Non-GAAP loss from operations, which excludes share-based
compensation expenses, was RMB813.7 million (US$124.2 million) in
the first quarter of 2021, compared with RMB649.3 million for the
same period of 2020 and RMB1,046.4 million for the fourth quarter
of 2020.
Net loss was RMB786.6 million (US$120.1 million) for the
first quarter of 2021, compared with RMB649.8 million for the same
period of 2020 and RMB787.4 million for the fourth quarter of
2020.
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 RMB696.3 million (US$106.3 million) for the first quarter of
2021, compared with RMB644.8 million for the same period of 2020
and RMB712.6 million for the fourth quarter of 2020.
Net loss attributable to ordinary shareholders of XPeng
Inc. was RMB786.6 million (US$120.1 million) for the first
quarter of 2021, compared with RMB935.1 million for the same period
of 2020 and RMB787.4 million in the fourth quarter of 2020.
Non-GAAP net loss attributable to ordinary shareholders of
XPeng Inc., 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 RMB696.3 million (US$106.3 million)
for the first quarter of 2021, compared with RMB644.8 million for
the same period of 2020 and RMB712.6 million for the fourth quarter
of 2020.
Basic and diluted net loss per ADS were both RMB0.99
(US$0.15) for the first quarter of 2021, compared to RMB5.16 for
the first quarter of 2020 and RMB1.05 for the fourth quarter of
2020.
Non-GAAP basic and diluted net loss per ADS were both
RMB0.88 (US$0.13) for the first quarter of 2021, compared to
RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth
quarter of 2020.
Balance Sheets
As of March 31, 2021, the Company had cash and cash equivalents,
restricted cash, short-term deposits, short-term investments and
long-term deposits of RMB36,201.0 million (US$5,525.4 million),
compared to RMB35,342.1 million as of December 31, 2020.
Business Outlook
For the second quarter of 2021, the Company expects:
- Deliveries of vehicles to be between 15,500 and 16,000
vehicles, representing a year-over-year increase of approximately
380.2% to 395.7%.
- Total revenues to be between RMB3.4 billion and RMB3.5
billion, representing a year-over-year increase of approximately
475.5% to 492.4%.
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 May 13, 2021 (8:00 PM Beijing/Hong
Kong time on May 13, 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
Mainland China:
400-820-9391
Conference ID:
7159369
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 May 20, 2021, by
dialing the following telephone numbers:
United States:
+1-800-585-8367
International:
+1-416-621-4642
Replay Access Code:
7159369
About XPeng Inc.
XPeng Inc. is a leading Chinese smart electric vehicle 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
autonomous driving 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 offices in Beijing, Shanghai, Silicon
Valley, and San Diego in the U.S. The Company’s Smart EVs are
manufactured at plants in Zhaoqing and Zhengzhou, located in
Guangdong and Henan provinces, respectively. 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 “Reconciliation of GAAP and non-GAAP
Results” set forth at the end of this press release.
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
RMB6.5518 to US$1.00, the exchange rate on March 31, 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 SEC.
All information provided in this press release is as of the date of
this press release, 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
31 March, 2021
31 March, 2021
(audited)
(unaudited)
(unaudited)
RMB
RMB
USD
Assets
Current assets:
Cash and cash equivalents
29,209,388
31,061,085
4,740,848
Restricted cash
2,332,145
1,779,251
271,567
Short-term deposits
979,897
988,711
150,907
Short-term investments
2,820,711
1,468,158
224,085
Derivative assets
105,183
-
-
Accounts receivable, net
1,128,892
1,374,655
209,813
Current portion of finance lease
receivables, net
156,069
253,951
38,760
Inventory
1,343,025
1,933,180
295,061
Amounts due from related parties
682
588
90
Prepayments and other current assets
1,603,286
1,788,035
272,908
Total current assets
39,679,278
40,647,614
6,204,039
Non-current assets:
Property, plant and equipment, net
3,081,502
3,174,344
484,500
Right-of-use assets
461,184
662,268
101,082
Intangible assets, net
607,781
604,006
92,189
Land use rights, net
249,934
382,307
58,351
Finance lease receivables, net
397,467
684,053
104,407
Long-term deposits
-
903,781
137,944
Other non-current assets
228,633
86,805
13,249
Long-term investments
1,000
25,551
3,900
Total non-current assets
5,027,501
6,523,115
995,622
Total assets
44,706,779
47,170,729
7,199,661
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except
for share and per share data)
As of
31 December, 2020
31 March, 2021
31 March, 2021
(audited)
(unaudited)
(unaudited)
RMB
RMB
USD
Liabilities
Current liabilities
Short-term borrowings
127,900
7,900
1,206
Accounts and notes payable
5,111,745
5,897,486
900,132
Amount due to a related party
12,062
13,829
2,111
Current portion of lease liabilities
119,565
172,481
26,326
Current portion of deferred revenue
163,617
126,552
19,316
Current portion of long-term
borrowings
45,000
-
-
Accruals and other liabilities
2,256,165
2,838,829
433,290
Income taxes payable
1,209
-
-
Derivative liabilities
-
8,798
1,343
Total current liabilities
7,837,263
9,065,875
1,383,724
Non-current liabilities
Long-term borrowings
1,645,000
1,600,000
244,208
Lease liabilities
352,501
490,560
74,874
Deferred revenue
144,767
206,924
31,583
Other non-current liabilities
297,439
1,972,754
301,101
Total non-current liabilities
2,439,707
4,270,238
651,766
Total liabilities
10,276,970
13,336,113
2,035,490
Shareholder's equity
Class A Ordinary shares
63
66
10
Class B Ordinary shares
26
26
4
Class C Ordinary shares
12
12
2
Additional paid in capital
46,482,512
46,572,785
7,108,395
Accumulated other comprehensive loss
(730,381)
(629,289)
(96,048)
Accumulated deficit
(11,322,423)
(12,108,984)
(1,848,192)
Total shareholders' equity
34,429,809
33,834,616
5,164,171
Noncontrolling interests
-
-
-
Total shareholders' equity
34,429,809
33,834,616
5,164,171
Total liabilities and shareholders’
equity
44,706,779
47,170,729
7,199,661
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(All amounts in thousands, except
for share and per share data)
Three Months Ended
March 31, 2020
December 31, 2020
March 31, 2021
March 31, 2021
(unaudited)
(unaudited)
(unaudited)
(unaudited)
RMB
RMB
RMB
USD
Revenues
-Vehicle sales
372,151
2,735,444
2,810,347
428,943
-Services and others
39,918
115,908
140,579
21,457
Total revenues
412,069
2,851,352
2,950,926
450,400
Cost of sales
-Vehicle sales
(391,736)
(2,550,587)
(2,525,808)
(385,514)
-Services and others
(40,206)
(90,201)
(95,277)
(14,542)
Total cost of sales
(431,942)
(2,640,788)
(2,621,085)
(400,056)
Gross (loss)/profit
(19,873)
210,564
329,841
50,344
Operating expenses
Research and development expenses
(310,782)
(459,955)
(535,114)
(81,674)
Selling, general and administrative
expenses
(321,825)
(917,883)
(720,821)
(110,019)
Total operating expenses
(632,607)
(1,377,838)
(1,255,935)
(191,693)
Other income
3,197
46,097
22,161
3,382
Loss from operations
(649,283)
(1,121,177)
(903,933)
(137,967)
Interest income
10,658
88,867
135,102
20,621
Interest expense
(8,278)
(2,571)
(1,142)
(174)
Fair value (loss)/gain on derivative
liabilities
(4,968)
123,374
(1,808)
(276)
Other non-operating income/(loss),
net
2,110
125,303
(14,780)
(2,256)
Loss before income taxes
(649,761)
(786,204)
(786,561)
(120,052)
Income tax expenses
-
(1,217)
-
-
Net loss
(649,761)
(787,421)
(786,561)
(120,052)
Accretion on Preferred Shares to
redemption value
(285,293)
-
-
-
Net loss attributable to ordinary
shareholders of XPeng Inc.
(935,054)
(787,421)
(786,561)
(120,052)
Net loss
(649,761)
(787,421)
(786,561)
(120,052)
Other comprehensive loss
Foreign currency translation
adjustment, net of nil tax
(11,976)
(565,814)
101,092
15,430
Total other comprehensive loss
(11,976)
(565,814)
101,092
15,430
Total comprehensive loss
(661,737)
(1,353,235)
(685,469)
(104,622)
Accretion on Preferred Shares to
redemption value
(285,293)
-
-
-
Comprehensive loss attributable
to ordinary shareholders of XPeng
Inc.
(947,030)
(1,353,235)
(685,469)
(104,622)
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(All amounts in thousands, except
for share and per share data)
Three Months Ended
March 31, 2020
December 31, 2020
March 31, 2021
March 31, 2021
(unaudited)
(unaudited)
(unaudited)
(unaudited)
RMB
RMB
RMB
USD
Weighted average number of
ordinary
shares used in computing net loss per
share
Basic and diluted
362,747,375
1,495,225,306
1,586,718,206
1,586,718,206
Net loss per share attributable
to
ordinary shareholders
Basic and diluted
(2.58)
(0.53)
(0.50)
(0.08)
Weighted average number of ADS
used
in computing net loss per share
Basic and diluted
181,373,688
747,612,653
793,359,103
793,359,103
Net loss per ADS attributable
to
ordinary shareholders
Basic and diluted
(5.16)
(1.05)
(0.99)
(0.15)
XPENG INC.
UNAUDITED RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except
for share and per share data)
Three Months Ended
March 31, 2020
December 31, 2020
March 31, 2021
March 31, 2021
(unaudited)
(unaudited)
(unaudited)
(unaudited)
RMB
RMB
RMB
USD
Loss from operations
(649,283)
(1,121,177)
(903,933)
(137,967)
Share-based compensation
expenses
-
74,807
90,276
13,779
Non-GAAP loss from
operations
(649,283)
(1,046,370)
(813,657)
(124,188)
Net loss
(649,761)
(787,421)
(786,561)
(120,052)
Fair value gain of convertible
redeemable preferred shares
4,968
-
-
-
Share-based compensation
expenses
-
74,807
90,276
13,779
Non-GAAP net (loss)/Gain
(644,793)
(712,614)
(696,285)
(106,273)
Net loss attributable to ordinary
shareholders
(935,054)
(787,421)
(786,561)
(120,052)
Fair value gain of convertible
redeemable preferred shares
4,968
-
-
-
Share-based compensation
expenses
-
74,807
90,276
13,779
Accretion on Preferred Shares to
redemption value
285,293
-
-
-
Non-GAAP net loss
attributable to ordinary shareholders
of XPeng Inc.
(644,793)
(712,614)
(696,285)
(106,273)
Weighted average number of ordinary
shares used in calculating Non-GAAP net loss per share
Basic and diluted
362,747,375
1,495,225,306
1,586,718,206
1,586,718,206
Non-GAAP net loss per ordinary
share
Basic and diluted
(1.78)
(0.48)
(0.44)
(0.07)
Weighted average number of ADS used in
calculating Non-GAAP net loss per share
Basic and diluted
181,373,688
747,612,653
793,359,103
793,359,103
Non-GAAP net loss per ADS
Basic and diluted
(3.56)
(0.95)
(0.88)
(0.13)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210513005425/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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