- Quarterly vehicle deliveries reached 25,666, a 199.2% increase
year-over-year
- Quarterly total revenues reached RMB5,719.9 million, a 187.4%
increase year-over-year
- Quarterly gross margin reached 14.4%
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,
2021.
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the full release here:
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Operational Highlights for the Three
Months Ended September 30, 2021
- Deliveries of vehicles were 25,666 in the third quarter
of 2021, setting a new quarterly record and representing an
increase of 199.2% from 8,578 in the corresponding period of 2020
and an increase of 47.5% from 17,398 in the second quarter of
2021.
- Deliveries of the P7 were 19,731 in the third quarter of
2021, reaching a record quarterly high and representing an increase
of 71.2% from 11,522 in the second quarter of 2021.
2021Q3
2021Q2
2021Q1
2020Q4
2020Q3
Total deliveries
25,666
17,398
13,340
12,964
8,578
P7 deliveries
19,731
11,522
7,974
8,527
6,210
- Among the total P7s delivered in the third quarter of 2021, 99%
can support XPILOT 2.5 or XPILOT 3.0.
- XPeng’s physical sales network consisted of a total of
271 stores, covering 95 cities as of September 30, 2021.
- XPeng-branded super charging stations expanded to 439,
covering 121 cities as of September 30, 2021.
Financial Highlights for the Three
Months Ended September 30, 2021
- Total revenues were RMB5,719.9 million (US$887.7
million) for the third quarter of 2021, representing an increase of
187.4% from the same period of 2020, and an increase of 52.1% from
the second quarter of 2021.
- Revenues from vehicle sales were RMB5,460.1 million
(US$847.4 million)for the third quarter of 2021, representing an
increase of 187.7% from the same period of 2020, and an increase of
52.3% from the second quarter of 2021.
- Gross margin was 14.4% for the third quarter of 2021,
compared with 4.6% for the same period of 2020 and 11.9% for the
second quarter of 2021.
- Vehicle margin, which is gross profit of vehicle sales
as a percentage of revenues from vehicle sales, was 13.6% for the
third quarter of 2021, compared with 3.2% for the same period of
2020 and 11.0% for the second quarter of 2021.
- Net loss was RMB1,594.8 million (US$247.5 million) for
the third quarter of 2021, compared with RMB1,148.8 million for the
same period of 2020 and RMB1,194.6 million for the second quarter
of 2021. Excluding share-based compensation expenses and fair value
change on derivative liabilities related to the redemption right of
preferred shares, non-GAAP net loss was RMB1,492.1 million
(US$231.6 million) in the third quarter of 2021, compared with
RMB864.9 million for the same period of 2020 and RMB1,096.4 million
for the second quarter of 2021.
- Net loss attributable to ordinary shareholders of XPeng
was RMB1,594.8 million (US$247.5 million) for the third quarter of
2021, compared with RMB2,025.8 million for the same period of 2020
and RMB1,194.6 million in the second quarter of 2021. Excluding
share-based compensation expenses, fair value change on derivative
liabilities related to the redemption right of preferred shares and
accretion on preferred shares to redemption value, non-GAAP net
loss attributable to ordinary shareholders of XPeng was RMB1,492.1
million (US$231.6 million) for the third quarter of 2021, compared
with RMB864.9 million for the same period of 2020 and RMB1,096.4
million for the second quarter of 2021.
- Basic and diluted net loss per American depositary share
(ADS) were both RMB1.89(US$0.29) for the third quarter of 2021.
Non-GAAP basic and diluted net loss per ADS were both RMB1.77
(US$0.27) for the third 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
RMB45,357.9 million (US$7,039.4 million)as of September 30, 2021,
compared with RMB35,342.1 million as of December 31, 2020 and
RMB32,871.2 million as of June 30, 2021.
Key Financial
Results
(in RMB millions, except for per ordinary
share data and percentages)
For the Three Months
Ended
% Change1
September 30,
June 30,
September 30,
2020
2021
2021
YoY
QoQ
Vehicle sales
1,898.0
3,584.4
5,460.1
187.7%
52.3%
Vehicle margin
3.2%
11.0%
13.6%
1,040bp
260bp
Total revenues
1,990.1
3,761.3
5,719.9
187.4%
52.1%
Gross profit
91.5
448.6
820.8
796.7%
83.0%
Gross margin
4.6%
11.9%
14.4%
980bp
250bp
Net loss
1,148.8
1,194.6
1,594.8
38.8%
33.5%
Non-GAAP net loss
864.9
1,096.4
1,492.1
72.5%
36.1%
Net loss attributable to
ordinary shareholders
2,025.8
1,194.6
1,594.8
-21.3%
33.5%
Non-GAAP net loss
attributable to ordinary
shareholders
864.9
1,096.4
1,492.1
72.5%
36.1%
1 Except for vehicle margin and gross margin, where absolute
changes instead of percentage changes are presented
Management Commentary
Mr. He Xiaopeng, Chairman and CEO of XPeng, said, “In the third
quarter, we continued record-setting growth with the highest
vehicle deliveries among China’s startup new energy vehicle
automakers. This outperformance testifies to the market’s
recognition of the differentiated value our vertically integrated
in-house developed software and hardware bring to our
vehicles.”
Mr. He added, “We are committed to advancing the clear roadmap
for our full-stack in-house technology and making high-performance
smart products accessible to a broader customer base. Our leading
technology is further showcased in the upcoming Navigation Guided
Pilot (“NGP”) that expands usage to complex city driving
scenarios. The solid progress we’ve made in the NGP fuels greater
confidence in our ability to explore autonomous driving enabled
mobility solutions in the future, such as robotaxi
technologies.”
“Looking forward, XPeng will continue to trailblaze new and
disruptive advancements that redefine China’s automobile industry,
transforming future mobility with technology,” Mr. He
concluded.
“We achieved strong growth momentum in the third quarter despite
the challenges of semiconductor shortage. Our third quarter
delivery number approximated 2020’s full-year delivery total and
our year-to-date deliveries more than doubled last year’s full-year
delivery count,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman
and President of XPeng. “Our record-high deliveries drove
significant revenue growth of 187.4% year-over-year in the third
quarter with further gross margin expansion. We believe our
innovative mindset, outstanding full-stack R&D capabilities and
a powerful pipeline of products will continue to drive our future
success.”
Recent Developments
Deliveries in October 2021
Total Smart EV deliveries of XPeng reached 10,138 in October
2021, representing a 233% increase year-over-year. The October
deliveries consisted of 6,044 P7 smart sports sedans and 3,657 G3
and G3i smart SUVs. The P5, XPeng’s smart family sedan that was
officially launched in September 2021, demonstrated strong market
appeal with 437 units delivered in October and a solid order
backlog. As of October 31, 2021, year-to-date total vehicle
deliveries reached 66,542, representing a 289% increase
year-over-year. The Company’s cumulative deliveries exceeded
100,000 as at the end of October 2021, reflecting its robust
business momentum and customer recognition.
ESG Performance
XPeng released its inaugural Environment Social and Governance
Report (https://ir.xiaopeng.com/ESG/default.aspx) on
October 15, 2021. XPeng received an “AA” rating from MSCI ESG
Research, the highest MSCI ESG rating among automobile companies
worldwide in 2021 for the second consecutive year.
XPeng Tech Day 2021: Technology Unveiled
On October 24, 2021, XPeng hosted its third annual 1024 Tech Day
event where it unveiled a series of breakthrough innovations,
including a mass-production 800V high-voltage SiC platform and
lightweight 480kW high-voltage supercharging piles.
Additionally, the Company showcased its XPILOT 3.5 driver
assistance system featuring industry-leading capabilities for urban
driving scenarios.
The new Smart EV model and 2021 Guangzhou International
Automobile Exhibition (“Auto Guangzhou”)
On November 19, 2021, XPeng launched its fourth Smart EV model,
the G9, at Auto Guangzhou. The G9 will be the first mass-produced
Smart EV that supports XPILOT 4.0. Meanwhile, the G9 will be
equipped with an 800V high-voltage SiC platform and XPeng’s new
proprietary X-EEA 3.0 electronic and electrical architecture that
adopts domain controllers, deeply integrating hardware, software
and communications architecture to achieve powerful performance and
high flexibility in OTA upgrades.
Flying Vehicle Announces Series A Funding
On October 19, 2021, XPeng’s urban air mobility affiliate, HT
Aero, announced that it entered into a definitive agreement with a
consortium of investors to raise over US$500 million for its Series
A funding, which marked the largest single-tranche fundraising to
date in Asia’s low-altitude flying vehicle sector.
Unaudited Financial Results for the
Three Months Ended September 30, 2021
Total revenues were RMB5,719.9 million (US$887.7 million)
for the third quarter of 2021, representing an increase of 187.4%
from RMB1,990.1 million for the same period of 2020 and an increase
of 52.1% from RMB3,761.3 million for the second quarter of
2021.
Revenues from vehicle sales were RMB5,460.1 million (US$847.4
million) for the third quarter of 2021, representing an increase of
187.7% from RMB1,898.0 million for the same period of 2020 and an
increase of 52.3% from RMB3,584.4 million for the second quarter of
2021. The year-over-year and the quarter-over-quarter increases
were mainly attributable to higher vehicle deliveries, especially
of the P7, as a result of channel expansion and brand value
improvement.
Revenues from services and others were RMB259.9 million (US$40.3
million) for the third quarter of 2021, representing an increase of
182.2% from RMB92.1 million for the same period of 2020 and an
increase of 46.9% from RMB176.9 million for the second quarter of
2021. The year-over-year and the quarter-over-quarter increases
were mainly attributed to more income from service, parts and
accessory sales in line with higher accumulated vehicle sales.
Cost of sales was RMB4,899.1 million (US$760.3 million)
for the third quarter of 2021, representing an increase of 158.0%
from RMB1,898.6 million for the same period of 2020 and an increase
of 47.9% from RMB3,312.7 million for the second quarter of 2021.
The year-over-year and the quarter-over-quarter increases were
mainly due to the increase of vehicle deliveries as described
above.
Gross margin was 14.4% for the third quarter of 2021,
compared with 4.6% and 11.9% for the third quarter of 2020 and the
second quarter of 2021, respectively.
Vehicle margin was 13.6% for the third quarter of 2021,
compared with 3.2% for the same period of 2020 and 11.0% for the
second quarter of 2021. The improvement was primarily attributable
to better product mix and manufacturing efficiency driven by
economies of scale.
Research and development expenses were RMB1,264.2 million
(US$196.2 million) for the third quarter of 2021, representing an
increase of 99.0% from RMB635.4 million for the same period of 2020
and an increase of 46.4% from RMB863.5 million for the second
quarter of 2021. The year-over-year and the quarter-over-quarter
increases were mainly due to (i) the increase in employee
compensation as a result of expanded research and development
staff, and (ii) higher expenses relating to the development of our
new models, namely the G9 and the P5, and related software
technologies to support future growth.
Selling, general and administrative expenses were
RMB1,538.4 million (US$238.8 million) for the third quarter of
2021, representing an increase of 27.8% from RMB1,203.8 million for
the same period of 2020 and an increase of 49.3% from RMB1,030.8
million for the second quarter of 2021. The year-over-year and the
quarter-over-quarter increases were mainly due to (i) higher
marketing, promotional and advertising expenses to support vehicle
sales, and (ii) the expansion of our sales network and associated
personnel cost, and commission for franchised store sales.
Other income was RMB179.2 million (US$27.8 million) for
the third quarter of 2021. The Company received higher government
subsidies of approximately RMB312.1 million, offset partially by
relocation and disposal cost of approximately RMB132.9 million
related to Haima Plant.
Loss from operations was RMB1,802.6 million (US$279.8
million) for the third quarter of 2021, compared with RMB1,744.2
million for the same period of 2020 and RMB1,443.2 million for the
second quarter of 2021. The higher year-over-year and
quarter-over-quarter losses were mainly attributable to higher
operating expenses as described above.
Non-GAAP loss from operations, which excludes share-based
compensation expenses, was RMB1,700.0 million (US$263.8 million)
for the third quarter of 2021, compared with RMB822.6 million for
the same period of 2020 and RMB1,345.0 million for the second
quarter of 2021.
Net loss was RMB1,594.8 million (US$247.5 million) for
the third quarter of 2021, compared with RMB1,148.8 million for the
same period of 2020 and RMB1,194.6 million for the second quarter
of 2021.
Non-GAAP net loss, which excludes share-based
compensation expenses and fair value change on derivative
liabilities related to the redemption right of preferred shares,
was RMB1,492.1 million (US$231.6 million) for the third quarter of
2021, compared with RMB864.9 million for the same period of 2020
and RMB1,096.4 million for the second quarter of 2021.
Net loss attributable to ordinary shareholders of XPeng
was RMB1,594.8 million (US$247.5 million) for the third quarter of
2021, compared with RMB2,025.8 million for the same period of 2020
and RMB1,194.6 million for the second quarter of 2021.
Non-GAAP net loss attributable to ordinary shareholders of
XPeng, which excludes share-based compensation expenses, fair
value change on derivative liabilities related to the redemption
right of preferred shares and accretion on preferred shares to
redemption value, was RMB1,492.1 million (US$231.6 million) for the
third quarter of 2021, compared with RMB864.9 million for the same
period of 2020 and RMB1,096.4 million for the second quarter of
2021.
Basic and diluted net loss per ADS were both RMB1.89
(US$0.29) for the third quarter of 2021, compared with RMB5.07 for
the third quarter of 2020 and RMB1.50 for the second quarter of
2021.
Non-GAAP basic and diluted net loss per ADS were both
RMB1.77 (US$0.27) for the third quarter of 2021, compared with
RMB2.16 for the third quarter of 2020 and RMB1.38 for the second
quarter of 2021.
Balance Sheets
As of September 30, 2021, the Company had cash and cash
equivalents, restricted cash, short-term deposits, short-term
investments and long-term deposits of RMB45,357.9 million
(US$7,039.4 million), compared with RMB35,342.1 million as of
December 31, 2020 and RMB32,871.2 million as of June 30, 2021.
Business Outlook
For the fourth quarter of 2021, the Company expects:
- Deliveries of vehicles to be between 34,500 and 36,500,
representing a year-over-year increase of approximately 166.1% to
181.5%.
- Total revenues to be between RMB7.1 billion and RMB7.5
billion, representing a year-over-year increase of approximately
149.0% to 163.0%.
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 23, 2021 (9:00 PM
Beijing/Hong Kong time on November 23, 2021).
Dial-in details for the earnings conference call are as
follows:
United States:
+1-833-654-9168
United Kingdom
+44-208-602-0818
International:
+1-209-313-0576
Hong Kong, China:
+852-5808-6567
China Mainland:
400-682-8629
Conference ID:
2381058
Participants please 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 December 3, 2021,
by dialing the following telephone numbers:
United States:
+1-855-859-2056
International:
+1-404-537-3406
Replay Access Code:
2381058
About XPeng
XPeng is a leading Chinese Smart EV company that designs,
develops, manufactures, and markets Smart EVs that appeal to the
large and growing base of technology-savvy middle-class consumers
in China. Its mission is to drive Smart EV transformation with
technology and data, shaping the mobility experience of the future.
In order to optimize its customers’ mobility experience, XPeng
develops in-house its full-stack advanced driver-assistance system
technology and in-car intelligent operating system, as well as core
vehicle systems including powertrain and the electrification/
electronic architecture. XPeng is headquartered in Guangzhou,
China, with main offices in Beijing, Shanghai, Silicon Valley, San
Diego and Amsterdam. The Company’s Smart EVs are mainly
manufactured at its plant in Zhaoqing, Guangdong province. For more
information, please visit https://en.xiaopeng.com.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP measures, such as non-GAAP loss from
operations, non-GAAP net loss, non-GAAP net loss attributable to
ordinary shareholders, non-GAAP basic loss per weighted average
number of ordinary shares and non-GAAP basic loss per ADS, in
evaluating its operating results and for financial and operational
decision-making purposes. By excluding the impact of share-based
compensation expenses, fair value change on derivative liabilities
related to the redemption right of preferred shares and/or
accretion on preferred shares to redemption value, the Company
believes that the non-GAAP financial measures help identify
underlying trends in its business and enhance the overall
understanding of the Company’s past performance and future
prospects. The Company also believes that the non-GAAP financial
measures allow for greater visibility with respect to key metrics
used by the Company’s management in its financial and operational
decision-making. The non-GAAP financial measures are not presented
in accordance with U.S. GAAP and may be different from non-GAAP
methods of accounting and reporting used by other companies. The
non-GAAP financial measures have limitations as analytical tools
and when assessing the Company’s operating performance, investors
should not consider them in isolation, or as a substitute for net
loss or other consolidated statements of comprehensive loss data
prepared in accordance with U.S. GAAP. The Company encourages
investors and others to review its financial information in its
entirety and not rely on a single financial measure. The Company
mitigates these limitations by reconciling the non-GAAP financial
measures to the most comparable U.S. GAAP performance measures, all
of which should be considered when evaluating the Company’s
performance.
For more information on the non-GAAP financial measures, please
see the table captioned “Unaudited Reconciliations of GAAP and
non-GAAP Results” set forth 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
RMB6.4434 to US$1.00, the exchange rate on September 30, 2021 set
forth in the H.10 statistical release of the Federal Reserve Board.
The Company makes no representation that the RMB or U.S. dollars
amounts referred could be converted into U.S. dollars or RMB, as
the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates” and similar statements. Statements
that are not historical facts, including statements about XPeng’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: XPeng’s goal
and strategies; XPeng’s expansion plans; XPeng’s future business
development, financial condition and results of operations; the
trends in, and size of, China’s EV market; XPeng’s expectations
regarding demand for, and market acceptance of, its products and
services; XPeng’s expectations regarding its relationships with
customers, contract manufacturer, suppliers, third-party service
providers, strategic partners and other stakeholders; general
economic and business conditions; and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks is included in XPeng’s filings with the
United States Securities and Exchange Commission. All information
provided in this announcement is as of the date of this
announcement, and XPeng does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except
for share and per share data)
31 December,
As of
30 September,
30 September,
2020 (audited) RMB
2021 (unaudited) RMB
2021 (unaudited) USD
Assets
Current assets Cash and cash
equivalents
29,209,388
15,393,548
2,389,041
Restricted cash
2,332,145
829,652
128,760
Short-term deposits
979,897
23,201,524
3,600,820
Short-term investments
2,820,711
3,393,298
526,632
Derivative assets-current
105,183
5,037
782
Accounts receivable, net
1,128,892
2,072,972
321,720
Current portion of finance lease
receivables, net
156,069
573,879
89,065
Inventory
1,343,025
2,306,979
358,038
Amounts due from related parties
682
22,456
3,485
Prepayments and other current assets
1,603,286
2,467,881
383,005
Total current assets
39,679,278
50,267,226
7,801,348
Non-current assets
Property, plant and equipment, net
3,081,502
4,551,409
706,368
Right-of-use assets
461,184
1,250,949
194,144
Intangible assets, net
607,781
856,911
132,991
Land use rights, net
249,934
598,578
92,898
Finance lease receivables, net
397,467
1,333,751
206,995
Long-term deposits
—
2,539,886
394,184
Other non-current assets
228,633
152,444
23,659
Long-term investments
1,000
44,830
6,958
Total non-current assets
5,027,501
11,328,758
1,758,197
Total assets
44,706,779
61,595,984
9,559,545
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except
for share and per share data)
31 December,
As of
30 September,
30 September,
2020 (audited) RMB
2021 (unaudited) RMB
2021 (unaudited) USD
Liabilities
Current liabilities
Short-term borrowings
127,900
57,000
8,846
Accounts and notes payable
5,111,745
8,840,669
1,372,050
Amount due to a related party
12,062
19,371
3,006
Current portion of lease liabilities
119,565
328,604
50,999
Current portion of deferred revenue
163,617
223,473
34,682
Current portion of long-term
borrowings
45,000
—
—
Accruals and other liabilities
2,256,165
3,516,042
545,681
Income taxes payable
1,209
—
—
Total current liabilities
7,837,263
12,985,159
2,015,264
Non-current liabilities
Long-term borrowings
1,645,000
1,323,656
205,428
Lease liabilities — non current
352,501
922,528
143,174
Deferred revenue
144,767
383,089
59,454
Other non-current liabilities
297,439
2,067,996
320,948
Total non-current liabilities
2,439,707
4,697,269
729,004
Total liabilities
10,276,970
17,682,428
2,744,268
Shareholder’s equity
Class A Ordinary shares
63
87
14
Class B Ordinary shares
26
25
4
Class C Ordinary shares
12
—
—
Additional paid in capital
46,482,512
59,891,688
9,295,044
Accumulated other comprehensive loss
(730,381)
(1,079,890)
(167,596)
Accumulated deficit
(11,322,423)
(14,898,354)
(2,312,189)
Total shareholders’ equity
34,429,809
43,913,556
6,815,277
Noncontrolling interests
—
—
—
Total shareholders’ equity
34,429,809
43,913,556
6,815,277
Total liabilities, mezzanine equity and
shareholders’ equity
44,706,779
61,595,984
9,559,545
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(All amounts in thousands, except
for share and per share data)
Three Months Ended
September 30,
June 30,
September 30,
September 30,
2020 (unaudited)
2021 (unaudited)
2021 (unaudited)
2021 (unaudited)
RMB
RMB
RMB
USD
Revenues
— Vehicle sales
1,898,041
3,584,364
5,460,063
847,388
— Services and others
92,078
176,915
259,855
40,329
Total revenues
1,990,119
3,761,279
5,719,918
887,717
Cost of sales
— Vehicle sales
(1,836,756
)
(3,191,489
)
(4,718,809
)
(732,348
)
— Services and others
(61,822
)
(121,210
)
(180,285
)
(27,980
)
Total cost of sales
(1,898,578
)
(3,312,699
)
(4,899,094
)
(760,328
)
Gross profit
91,541
448,580
820,824
127,389
Operating expenses
Research and development
expenses
(635,373
)
(863,524
)
(1,264,240
)
(196,207
)
Selling, general and administrative
expenses
(1,203,792
)
(1,030,767
)
(1,538,420
)
(238,759
)
Total operating expenses
(1,839,165
)
(1,894,291
)
(2,802,660
)
(434,966
)
Other income
3,440
2,546
179,196
27,811
Loss from operations
(1,744,184
)
(1,443,165
)
(1,802,640
)
(279,766
)
Interest income
23,216
150,029
193,888
30,091
Interest expense
(3,926
)
(24,006
)
(16,347
)
(2,537
)
Fair value gain on derivative
liabilities
620,209
77,790
30,190
4,685
Other non-operating (loss)/income,
net
(44,070
)
44,783
411
64
Loss before income taxes
(1,148,755
)
(1,194,569
)
(1,594,498
)
(247,463
)
Income tax expenses
(6
)
—
(303
)
(47
)
Net loss
(1,148,761
)
(1,194,569
)
(1,594,801
)
(247,510
)
Accretion on Preferred Shares to
redemption value
(877,007
)
—
—
—
Net loss attributable to
ordinary
shareholders of XPeng
Inc.
(2,025,768
)
(1,194,569
)
(1,594,801
)
(247,510
)
XPENG INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(CONTINUED)
(All amounts in thousands, except
for share and per share data)
Three Months Ended
September 30,
June 30,
September 30,
September 30,
2020 (unaudited)
2021 (unaudited)
2021 (unaudited)
2021 (unaudited)
RMB
RMB
RMB
USD
Net loss
(1,148,761)
(1,194,569)
(1,594,801)
(247,510)
Other comprehensive loss
Foreign currency translation
adjustment, net of nil
tax
(143,220)
(424,123)
(26,478)
(4,109)
Total comprehensive loss
(1,291,981)
(1,618,692)
(1,621,279)
(251,619)
Accretion on Preferred Shares to
redemption value
(877,007)
—
—
—
Comprehensive loss attributable to
ordinary shareholders of XPeng Inc.
(2,168,988)
(1,618,692)
(1,621,279)
(251,619)
Weighted average number
of ordinary shares used in
computing net loss
per share Basic and diluted
799,364,696
1,592,387,877
1,689,885,370
1,689,885,370
Net loss per share attributable to
ordinary shareholders Basic and diluted
(2.53)
(0.75)
(0.94)
(0.15)
Weighted average number of
ADS used in computing net loss
per share Basic and diluted
399,682,348
796,193,938
844,942,685
844,942,685
Net loss per ADS attributable to
ordinary shareholders
Basic and diluted
(5.07)
(1.50)
(1.89)
(0.29)
XPENG INC.
UNAUDITED RECONCILIATIONS OF
GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except
for share and per share data)
Three Months Ended
September 30,
June 30,
September 30,
September 30,
2020 (unaudited)
2021 (unaudited)
2021 (unaudited)
2021 (unaudited)
RMB
RMB
RMB
USD
Loss from operations
(1,744,184
)
(1,443,165
)
(1,802,640
)
(279,766
)
Share-based compensation
expenses
921,610
98,153
102,673
15,935
Non-GAAP loss from operations
(822,574
)
(1,345,012
)
(1,699,967
)
(263,831
)
Net loss
(1,148,761
)
(1,194,569
)
(1,594,801
)
(247,510
)
Fair value gain of convertible
redeemable preferred
shares
(637,779
)
—
—
—
Share-based compensation
expenses
921,610
98,153
102,673
15,935
Non-GAAP net loss
(864,930
)
(1,096,416
)
(1,492,128
)
(231,575
)
Net loss attributable to ordinary
shareholders
(2,025,768
)
(1,194,569
)
(1,594,801
)
(247,510
)
Fair value gain of convertible
redeemable preferred
shares
(637,779
)
—
—
—
Share-based compensation
expenses
921,610
98,153
102,673
15,935
Accretion on Preferred Shares to
redemption value
877,007
—
—
—
Non-GAAP net loss attributable
to ordinary shareholders of
XPeng Inc.
(864,930
)
(1,096,416
)
(1,492,128
)
(231,575
)
Weighted average number
of ordinary shares used in
calculating Non-GAAP
net loss per share Basic and diluted
799,364,696
1,592,387,877
1,689,885,370
1,689,885,370
Non-GAAP net loss per ordinary
share Basic and diluted
(1.08
)
(0.69
)
(0.88
)
(0.14
)
Weighted average number of ADS used in
calculating Non-GAAP net loss per share Basic
and diluted
399,682,348
796,193,938
844,942,685
844,942,685
Non-GAAP net loss per ADS Basic and
diluted
(2.16
)
(1.38
)
(1.77
)
(0.27
)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211123005688/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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