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 June 30, 2024.
Operational and Financial Highlights for the Three Months Ended June 30, 2024
|
|
2024Q2 |
2024Q1 |
2023Q4 |
2023Q3 |
2023Q2 |
2023Q1 |
|
Total deliveries |
30,207 |
21,821 |
60,158 |
40,008 |
23,205 |
18,230 |
|
|
|
|
|
|
|
|
- Total deliveries of
vehicles were 30,207 for the second quarter of 2024,
representing an increase of 30.2% from 23,205 in the corresponding
period of 2023.
- XPENG’s physical sales
network had a total of 611 stores, covering 185 cities as
of June 30, 2024.
-
XPENG
self-operated
charging
station
network reached 1,298 stations,
including 442 XPENG S4 ultra-fast charging stations as of June 30,
2024.
- Total revenues
were RMB8.11 billion (US$1.12 billion) for the second quarter of
2024, representing an increase of 60.2% from the same period of
2023, and an increase of 23.9% from the first quarter of 2024.
- Revenues
from vehicle
sales were RMB6.82 billion (US$0.94 billion) for
the second quarter of 2024, representing an increase of 54.1% from
the same period of 2023, and an increase of 23.0% from the first
quarter of 2024.
- Gross margin was
14.0% for the second quarter of 2024, compared with negative 3.9%
for the same period of 2023 and 12.9% for the first quarter of
2024.
- Vehicle margin,
which is gross profit or loss of vehicle sales as a percentage of
vehicle sales revenue, was 6.4% for the second quarter of 2024,
compared with negative 8.6% for the same period of 2023 and 5.5%
for the first quarter of 2024.
- Net loss was
RMB1.28 billion (US$0.18 billion) for the second quarter of 2024,
compared with RMB2.80 billion for the same period of 2023 and
RMB1.37 billion for the first quarter of 2024. Excluding
share-based compensation expenses and fair value gain on derivative
liability relating to the contingent consideration,
non-GAAP net loss was RMB1.22 billion (US$0.17
billion) for the second quarter of 2024, compared with RMB2.67
billion for the same period of 2023 and RMB1.41 billion for the
first quarter of 2024.
- Net loss attributable to
ordinary shareholders of XPENG was RMB1.28 billion
(US$0.18 billion) for the second quarter of 2024, compared with
RMB2.80 billion for the same period of 2023 and RMB1.37 billion for
the first quarter of 2024. Excluding share-based compensation
expenses and fair value gain on derivative liability relating to
the contingent consideration, non-GAAP net loss
attributable to ordinary shareholders of XPENG was RMB1.22
billion (US$0.17 billion) for the second quarter of 2024, compared
with RMB2.67 billion for the same period of 2023 and RMB1.41
billion for the first quarter of 2024.
- Basic and diluted net loss
per American depositary share (ADS) were both RMB1.36
(US$0.19) and basic and diluted net loss per ordinary
share were both RMB0.68 (US$0.09) for the second quarter
of 2024. Each ADS represents two Class A ordinary shares.
- Non-GAAP basic and diluted
net loss per ADS were both RMB1.29 (US$0.18) and
non-GAAP basic and diluted net loss per ordinary
share were both RMB0.65 (US$0.09) for the second quarter
of 2024.
- Cash and cash equivalents,
restricted cash, short-term investments and time deposits
were RMB37.33 billion (US$5.14 billion) as of June 30, 2024,
compared with RMB41.40 billion as of March 31, 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 |
|
|
June 30, |
March 31, |
June 30, |
|
|
|
2024 |
2024 |
2023 |
YoY |
QoQ |
|
|
|
|
|
|
|
| Vehicle sales |
6.82 |
5.54 |
4.42 |
54.1% |
23.0% |
| Vehicle margin |
6.4% |
5.5% |
-8.6% |
15.0 pts |
0.9 pts |
| Total revenues |
8.11 |
6.55 |
5.06 |
60.2% |
23.9% |
| Gross profit (loss) |
1.14 |
0.84 |
(0.20) |
675.4% |
34.6% |
| Gross margin |
14.0% |
12.9% |
-3.9% |
17.9 pts |
1.1 pts |
| Net loss |
1.28 |
1.37 |
2.80 |
-54.2% |
-6.1% |
| Non-GAAP net loss |
1.22 |
1.41 |
2.67 |
-54.3% |
-13.4% |
| Net loss attributable to
ordinary shareholders |
1.28 |
1.37 |
2.80 |
-54.2% |
-6.1% |
| Non-GAAP net loss attributable
to ordinary shareholders |
1.22 |
1.41 |
2.67 |
-54.3% |
-13.4% |
| Comprehensive loss
attributable to ordinary shareholders |
1.20 |
1.34 |
1.93 |
-37.9% |
-10.7% |
i Except for vehicle margin and
gross margin, where absolute changes instead of percentage changes
are presented
Management Commentary
“Starting from the launch of MONA M03 in August,
we are about to enter into a strong product cycle. In the next 3
years, we will have a large number of new models and facelift
versions in the pipeline for market launch,” said Mr. Xiaopeng He,
Chairman and CEO of XPENG. “I believe that through a powerful
product cycle and more efficient marketing, the technological
advantages we have accumulated through a long period of time and
the breakthroughs we have achieved in AI will be transformed into
sales growth in China and the international market. We are
confident that we will return to the track of fast growth, and we
resolve on winning the industry competition for smart technologies
and global expansion.”
“With cost reduction through technical
improvement and revenues from technical collaboration in our
strategic partnership with Volkswagen, our gross profit margin in
the second quarter of 2024 has further increased to 14.0%,” said
Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of
XPENG. “I expect as the big product cycle drives our sales growth
in the global market, our economy of scale, operating efficiency
and cash flow will significantly improve.”
Recent Developments
Deliveries in
July 2024
- Total deliveries
were 11,145 vehicles in July 2024.
- As of July 31,
2024, year-to-date total deliveries were 63,173 vehicles.
Entry into the Master Agreement on E/E
Architecture Technical Collaboration with the Volkswagen
Group
On July 22, 2024, XPENG and the Volkswagen
Group (“Volkswagen”) announced the entry of a
Master Agreement (“Master Agreement”) on technical
collaboration with respect to electrical/electronic architecture
(“E/E Architecture”), which solidifies both
parties’ commitment to jointly develop industry-leading E/E
Architecture for all locally produced vehicles based on
Volkswagen’s China Main Platform (CMP) and Modular Electric Drive
Matrix (MEB) platform. For details, please refer to the
announcement of the Company dated July 22, 2024.
OTA update of XOS 5.2.0
On July 30, 2024, XPENG fully rolled out its XOS
5.2.0 to XPENG users via the Over-the-Air (“OTA”)
update. XNGP has been leveled up from “available nationwide” to
“smooth experience anywhere”, offering users nationwide access to
the enhanced XNGP on all public roads with navigation maps,
regardless of city, route, or road condition.
Unaudited Financial Results for the
Three Months Ended June 30, 2024
Total revenues were RMB8.11
billion (US$1.12 billion) for the second quarter of 2024,
representing an increase of 60.2% from RMB5.06 billion for the same
period of 2023 and an increase of 23.9% from RMB6.55 billion for
the first quarter of 2024.
Revenues from vehicle sales
were RMB6.82 billion (US$0.94 billion) for the second quarter of
2024, representing an increase of 54.1% from RMB4.42 billion for
the same period of 2023, and an increase of 23.0% from RMB5.54
billion for the first quarter of 2024. The year-over-year and
quarter-over-quarter increases were mainly attributable to higher
deliveries.
Revenues from services and
others were RMB1.29 billion (US$0.18 billion) for the
second quarter of 2024, representing an increase of 102.5% from
RMB0.64 billion for the same period of 2023 and an increase of
28.8% from RMB1.00 billion for the first quarter of 2024. The
year-over-year and quarter-over-quarter increases were mainly
attributable to higher sales from maintenance services, which was
in line with higher accumulated vehicle sales, and the increased
sales from technical research and development services related to
the platform and software strategic technical collaboration with
the Volkswagen Group.
Cost of sales was RMB6.98
billion (US$0.96 billion) for the second quarter of 2024,
representing an increase of 32.6% from RMB5.26 billion for the same
period of 2023 and an increase of 22.3% from RMB5.70 billion for
the first quarter of 2024. The year-over-year and
quarter-over-quarter increases were mainly in line with vehicle
deliveries as described above, respectively.
Gross margin was 14.0% for the
second quarter of 2024, compared with negative 3.9% for the same
period of 2023 and 12.9% for the first quarter of 2024.
Vehicle margin was 6.4% for the
second quarter of 2024, compared with negative 8.6% for the same
period of 2023 and 5.5% for the first quarter of 2024. The
year-over-year increase was primarily attributable to the cost
reduction and the improvement in product mix of models. The
quarter-over-quarter increase was primarily attributable to the
cost reduction.
Services and others margin was
54.3% for the second quarter of 2024, compared with 28.6% for the
same period of 2023 and 53.9% for the first quarter of 2024. The
year-over-year and quarter-over-quarter increases were primarily
attributable to the higher gross margin from the aforementioned
revenue from technical research and development services.
Research and development
expenses were RMB1.47 billion (US$0.20 billion) for the
second quarter of 2024, representing an increase of 7.3% from
RMB1.37 billion for the same period of 2023 and an increase of 8.6%
from RMB1.35 billion for the first quarter of 2024. The
year-over-year and quarter-over-quarter increases were mainly due
to higher expenses related to the development of new vehicle models
as the Company expanded its product portfolio to support future
growth.
Selling, general and administrative
expenses were RMB1.57 billion (US$0.22 billion) for the
second quarter of 2024, representing an increase of 1.9% from
RMB1.54 billion for the same period of 2023 and an increase of
13.3% from RMB1.39 billion for the first quarter of 2024. The
year-over-year and quarter-over-quarter increases were mainly due
to higher commission to the franchised stores and higher marketing,
promotional and advertising expenses.
Other income, net was RMB0.28
billion (US$0.04 billion) for the second quarter of 2024,
representing an increase of 1,454.3% from RMB0.02 billion for the
same period of 2023 and an increase of 276.6% from RMB0.07 billion
for the first quarter of 2024. The year-over-year and
quarter-over-quarter increases were primarily attributable to the
increase of government subsidies.
Fair value gain on derivative liability
relating to the contingent consideration was RMB0.02
billion (US$0.002 billion) for the second quarter of 2024, compared
with RMB0.18 billion for the first quarter of 2024. This non-cash
gain resulted from the fair value change of the contingent
consideration related to the acquisition of DiDi’s smart auto
business.
Loss from operations was
RMB1.61 billion (US$0.22 billion) for the second quarter of 2024,
compared with RMB3.09 billion for the same period of 2023 and
RMB1.65 billion for the first quarter of 2024.
Non-GAAP loss from operations,
which excludes share-based compensation expenses and fair value
gain on derivative liability relating to the contingent
consideration, was RMB1.54 billion (US$0.21 billion) for the second
quarter of 2024, compared with RMB2.96 billion for the same period
of 2023 and RMB1.69 billion for the first quarter of 2024.
Net loss was RMB1.28 billion
(US$0.18 billion) for the second quarter of 2024, compared with
RMB2.80 billion for the same period of 2023 and RMB1.37 billion for
the first quarter of 2024.
Non-GAAP net loss, which
excludes share-based compensation expenses and fair value gain on
derivative liability relating to the contingent consideration, was
RMB1.22 billion (US$0.17 billion) for the second quarter of 2024,
compared with RMB2.67 billion for the same period of 2023 and
RMB1.41 billion for the first quarter of 2024.
Net loss attributable to ordinary
shareholders of XPENG was RMB1.28 billion (US$0.18
billion) for the second quarter of 2024, compared with RMB2.80
billion for the same period of 2023 and RMB1.37 billion for the
first quarter of 2024.
Non-GAAP net loss attributable to
ordinary shareholders of XPENG, which excludes share-based
compensation expenses and fair value gain on derivative liability
relating to the contingent consideration, was RMB1.22 billion
(US$0.17 billion) for the second quarter of 2024, compared with
RMB2.67 billion for the same period of 2023 and RMB1.41 billion for
the first quarter of 2024.
Basic and diluted net loss per
ADS were both RMB1.36 (US$0.19) for the second quarter of
2024, compared with RMB3.25 for the second quarter of 2023 and
RMB1.45 for the first quarter of 2024.
Non-GAAP basic and diluted net loss per
ADS were both RMB1.29 (US$0.18) for the second quarter of
2024, compared with RMB3.10 for the second quarter of 2023 and
RMB1.49 for the first quarter of 2024.
Balance Sheets
As of June 30, 2024, the Company had cash and
cash equivalents, restricted cash, short-term investments and time
deposits of RMB37.33 billion (US$5.14 billion), compared with
RMB33.74 billion as of June 30, 2023 and RMB41.40 billion as of
March 31, 2024.
Business Outlook
For the third quarter of 2024, the Company
expects:
- Deliveries
of vehicles to be between 41,000
and 45,000, representing a year-over-year increase of approximately
2.5% to 12.5%.
- Total
revenues to be between RMB9.1 billion and RMB9.8
billion, representing a year-over-year increase of approximately
6.7% to 14.9%.
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 August 20, 2024
(8:00 PM Beijing/Hong Kong Time on August 20, 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 Second Quarter 2024 Earnings
Conference Call Pre-registration link:
https://s1.c-conf.com/diamondpass/10040571-yt6du.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 August 27, 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: |
10040571 |
|
|
|
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 RMB7.27 to US$1.00, the exchange rate on June
28, 2024, set forth in the H.10 statistical release of the Federal
Reserve Board. The Company makes no representation that the RMB or
U.S. dollars amounts referred could be converted into U.S. dollars
or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates” and similar
statements. Statements that are not historical facts, including
statements about XPENG’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: XPENG’s goal and strategies; XPENG’s expansion plans;
XPENG’s future business development, financial condition and
results of operations; the trends in, and size of, China’s EV
market; XPENG’s expectations regarding demand for, and market
acceptance of, its products and services; XPENG’s expectations
regarding its relationships with customers, suppliers, third-party
service providers, strategic partners and other stakeholders;
general economic and business conditions; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in XPENG’s filings with
the United States Securities and Exchange Commission. All
information provided in this announcement is as of the date of this
announcement, and XPENG does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
For Investor
EnquiriesIR DepartmentXPeng Inc.E-mail:
ir@xiaopeng.com
Jenny CaiPiacente Financial CommunicationsTel:
+1-212-481-2050 or +86-10-6508-0677E-mail: xpeng@tpg-ir.com
For Media Enquiries PR
DepartmentXPeng 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 |
|
June 30,2024 |
|
June 30,2024 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
| Current
assets |
|
|
|
|
|
|
| Cash and cash equivalents |
|
21,127,163 |
|
14,253,645 |
|
1,961,367 |
| Restricted cash |
|
3,174,886 |
|
3,451,099 |
|
474,887 |
| Short-term deposits |
|
9,756,979 |
|
10,868,694 |
|
1,495,582 |
| Restricted short-term
deposits |
|
- |
|
533,377 |
|
73,395 |
| Short-term investments |
|
781,216 |
|
250,967 |
|
34,534 |
| Long-term deposits, current
portion |
|
7,054,915 |
|
2,765,569 |
|
380,555 |
| Accounts and notes receivable,
net |
|
2,716,216 |
|
2,135,141 |
|
293,805 |
| Installment payment
receivables, net, current portion |
|
1,881,755 |
|
1,972,380 |
|
271,409 |
| Inventory |
|
5,526,212 |
|
5,565,776 |
|
765,876 |
| Amounts due from related
parties |
|
12,948 |
|
33,533 |
|
4,614 |
| Prepayments and other current
assets |
|
2,489,339 |
|
2,902,937 |
|
399,456 |
| Total current
assets |
|
54,521,629 |
|
44,733,118 |
|
6,155,480 |
| Non-current
assets |
|
|
|
|
|
|
| Long-term deposits |
|
3,035,426 |
|
3,915,641 |
|
538,810 |
| Restricted long-term
deposits |
|
767,899 |
|
1,287,281 |
|
177,136 |
| Property, plant and equipment,
net |
|
10,954,485 |
|
10,467,934 |
|
1,440,436 |
| Right-of-use assets, net |
|
1,455,865 |
|
1,270,676 |
|
174,851 |
| Intangible assets, net |
|
4,948,992 |
|
4,705,139 |
|
647,449 |
| Land use rights, net |
|
2,789,367 |
|
2,764,487 |
|
380,406 |
| Installment payment
receivables, net |
|
3,027,795 |
|
3,187,137 |
|
438,565 |
| Long-term investments |
|
2,084,933 |
|
2,061,775 |
|
283,710 |
| Other non-current assets |
|
576,150 |
|
605,601 |
|
83,333 |
| Total non-current
assets |
|
29,640,912 |
|
30,265,671 |
|
4,164,696 |
| Total
assets |
|
84,162,541 |
|
74,998,789 |
|
10,320,176 |
| |
|
|
|
|
|
|
|
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 |
|
June 30,2024 |
|
June 30,2024 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
| Current
liabilities |
|
|
|
|
|
|
| Short-term borrowings |
|
3,889,100 |
|
4,157,200 |
|
572,050 |
| Accounts and notes
payable |
|
22,210,431 |
|
16,389,995 |
|
2,255,338 |
| Amounts due to related
parties |
|
30,880 |
|
175 |
|
24 |
| Operating lease liabilities,
current portion |
|
365,999 |
|
323,210 |
|
44,475 |
| Finance lease liabilities,
current portion |
|
34,382 |
|
34,878 |
|
4,799 |
| Deferred revenue, current
portion |
|
630,997 |
|
889,625 |
|
122,416 |
| Long-term borrowings, current
portion |
|
1,363,835 |
|
1,977,994 |
|
272,181 |
| Accruals and other
liabilities |
|
7,580,195 |
|
6,015,270 |
|
827,729 |
| Income taxes payable |
|
5,743 |
|
7,852 |
|
1,080 |
| Total current
liabilities |
|
36,111,562 |
|
29,796,199 |
|
4,100,092 |
| Non-current
liabilities |
|
|
|
|
|
|
| Long-term borrowings |
|
5,650,782 |
|
5,358,915 |
|
737,411 |
| Operating lease
liabilities |
|
1,490,882 |
|
1,367,459 |
|
188,169 |
| Finance lease liabilities |
|
777,697 |
|
796,947 |
|
109,664 |
| Deferred revenue |
|
668,946 |
|
667,165 |
|
91,805 |
| Derivative liability |
|
393,473 |
|
208,974 |
|
28,756 |
| Deferred tax liabilities |
|
404,018 |
|
364,272 |
|
50,125 |
| Other non-current
liabilities |
|
2,336,654 |
|
2,433,492 |
|
334,860 |
| Total non-current
liabilities |
|
11,722,452 |
|
11,197,224 |
|
1,540,790 |
| Total
liabilities |
|
47,834,014 |
|
40,993,423 |
|
5,640,882 |
| |
|
|
|
|
|
|
| SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
| Class A Ordinary shares |
|
103 |
|
103 |
|
14 |
| Class B Ordinary shares |
|
21 |
|
21 |
|
3 |
| Additional paid-in
capital |
|
70,198,031 |
|
70,414,048 |
|
9,689,295 |
| Statutory and other
reserves |
|
60,035 |
|
79,337 |
|
10,917 |
| Accumulated deficit |
|
(35,760,301) |
|
(38,432,174) |
|
(5,288,443) |
| Accumulated other
comprehensive income |
|
1,830,638 |
|
1,944,031 |
|
267,508 |
| Total shareholders'
equity |
|
36,328,527 |
|
34,005,366 |
|
4,679,294 |
| Total liabilities and
shareholders’ equity |
|
84,162,541 |
|
74,998,789 |
|
10,320,176 |
|
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 |
|
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
|
2023 |
|
2024 |
|
2024 |
|
2024 |
|
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
Vehicle sales |
4,424,537 |
|
5,544,396 |
|
6,818,867 |
|
938,307 |
|
Services and others |
638,159 |
|
1,003,700 |
|
1,292,540 |
|
177,859 |
| Total
revenues |
5,062,696 |
|
6,548,096 |
|
8,111,407 |
|
1,116,166 |
| Cost of
sales |
|
|
|
|
|
|
|
|
Vehicle sales |
(4,804,535) |
|
(5,242,040) |
|
(6,384,289) |
|
(878,507) |
|
Services and others |
(455,552) |
|
(462,303) |
|
(591,328) |
|
(81,369) |
| Total cost of
sales |
(5,260,087) |
|
(5,704,343) |
|
(6,975,617) |
|
(959,876) |
| Gross (loss)
profit |
(197,391) |
|
843,753 |
|
1,135,790 |
|
156,290 |
| Operating
expenses |
|
|
|
|
|
|
|
|
Research and development expenses |
(1,367,107) |
|
(1,350,448) |
|
(1,466,752) |
|
(201,832) |
|
Selling, general and administrative expenses |
(1,543,625) |
|
(1,388,447) |
|
(1,573,601) |
|
(216,535) |
| Total operating
expenses |
(2,910,732) |
|
(2,738,895) |
|
(3,040,353) |
|
(418,367) |
| Other income, net |
17,940 |
|
74,040 |
|
278,843 |
|
38,370 |
| Fair value gain on derivative
liability relating to the contingent consideration |
- |
|
175,131 |
|
16,662 |
|
2,293 |
| Loss from
operations |
(3,090,183) |
|
(1,645,971) |
|
(1,609,058) |
|
(221,414) |
| Interest income |
303,637 |
|
398,645 |
|
356,682 |
|
49,081 |
| Interest expense |
(67,007) |
|
(85,121) |
|
(81,399) |
|
(11,201) |
| Investment loss on long-term
investments |
(38,704) |
|
(19,456) |
|
(35,836) |
|
(4,931) |
| Exchange gain (loss) from
foreign currency transactions |
42,663 |
|
(12,915) |
|
20,801 |
|
2,862 |
| Other non-operating income,
net |
4,286 |
|
4,092 |
|
3,525 |
|
485 |
| Loss before income tax
(expenses) benefit and share of |
|
|
|
|
|
|
|
| results of
equity method investees |
(2,845,308) |
|
(1,360,726) |
|
(1,345,285) |
|
(185,118) |
| Income tax (expenses)
benefit |
(8,217) |
|
(1,060) |
|
33,773 |
|
4,647 |
| Share of results of equity
method investees |
48,873 |
|
(6,104) |
|
26,831 |
|
3,692 |
| Net loss |
(2,804,652) |
|
(1,367,890) |
|
(1,284,681) |
|
(176,779) |
| Net loss attributable
to ordinary shareholders of XPeng Inc. |
(2,804,652) |
|
(1,367,890) |
|
(1,284,681) |
|
(176,779) |
|
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 |
|
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
|
2023 |
|
2024 |
|
2024 |
|
2024 |
|
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
| Net loss |
(2,804,652) |
|
(1,367,890) |
|
(1,284,681) |
|
(176,779) |
| Other comprehensive
loss |
|
|
|
|
|
|
|
| Foreign currency translation
adjustment, net of tax |
876,266 |
|
26,684 |
|
86,709 |
|
11,932 |
| Total comprehensive
loss attributable to XPeng Inc. |
(1,928,386) |
|
(1,341,206) |
|
(1,197,972) |
|
(164,847) |
| Comprehensive loss
attributable to ordinary shareholders of XPeng Inc. |
(1,928,386) |
|
(1,341,206) |
|
(1,197,972) |
|
(164,847) |
| |
|
|
|
|
|
|
|
| Weighted average
number of ordinary shares used in computing net |
|
|
|
|
|
|
|
| loss per
ordinary share |
|
|
|
|
|
|
|
| Basic and diluted |
1,723,369,664 |
|
1,885,395,377 |
|
1,888,024,660 |
|
1,888,024,660 |
| Net loss per ordinary
share attributable to ordinary shareholders |
|
|
|
|
|
|
|
| Basic and diluted |
(1.63) |
|
(0.73) |
|
(0.68) |
|
(0.09) |
| |
|
|
|
|
|
|
|
| Weighted average
number of ADS used in computing net loss per share |
|
|
|
|
|
|
|
| Basic and diluted |
861,684,832 |
|
942,697,689 |
|
944,012,330 |
|
944,012,330 |
| Net loss per ADS
attributable to ordinary shareholders |
|
|
|
|
|
|
|
| Basic and diluted |
(3.25) |
|
(1.45) |
|
(1.36) |
|
(0.19) |
|
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 |
|
|
June 30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
|
2023 |
|
2024 |
|
2024 |
|
2024 |
|
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
| Loss from operations |
(3,090,183) |
|
(1,645,971) |
|
(1,609,058) |
|
(221,414) |
| Fair value gain on derivative
liability relating to the contingent consideration |
- |
|
(175,131) |
|
(16,662) |
|
(2,293) |
| Share-based compensation
expenses |
134,570 |
|
134,711 |
|
81,306 |
|
11,188 |
| Non-GAAP loss from
operations |
(2,955,613) |
|
(1,686,391) |
|
(1,544,414) |
|
(212,519) |
| Net loss |
(2,804,652) |
|
(1,367,890) |
|
(1,284,681) |
|
(176,779) |
| Fair value gain on derivative
liability relating to the contingent consideration |
- |
|
(175,131) |
|
(16,662) |
|
(2,293) |
| Share-based compensation
expenses |
134,570 |
|
134,711 |
|
81,306 |
|
11,188 |
| Non-GAAP net
loss |
(2,670,082) |
|
(1,408,310) |
|
(1,220,037) |
|
(167,884) |
| Net loss attributable to
ordinary shareholders |
(2,804,652) |
|
(1,367,890) |
|
(1,284,681) |
|
(176,779) |
| Fair value gain on derivative
liability relating to the contingent consideration |
- |
|
(175,131) |
|
(16,662) |
|
(2,293) |
| Share-based compensation
expenses |
134,570 |
|
134,711 |
|
81,306 |
|
11,188 |
| Non-GAAP net loss
attributable to ordinary shareholders of XPeng Inc. |
(2,670,082) |
|
(1,408,310) |
|
(1,220,037) |
|
(167,884) |
| Weighted average
number of ordinary shares used in calculating |
|
|
|
|
|
|
|
| Non-GAAP
net loss per share |
|
|
|
|
|
|
|
| Basic and diluted |
1,723,369,664 |
|
1,885,395,377 |
|
1,888,024,660 |
|
1,888,024,660 |
| Non-GAAP net loss per
ordinary share |
|
|
|
|
|
|
|
| Basic and diluted |
(1.55) |
|
(0.75) |
|
(0.65) |
|
(0.09) |
| Weighted average
number of ADS used in calculating Non-GAAP |
|
|
|
|
|
|
|
| net
loss per share |
|
|
|
|
|
|
|
| Basic and diluted |
861,684,832 |
|
942,697,689 |
|
944,012,330 |
|
944,012,330 |
| |
|
|
|
|
|
|
|
| Non-GAAP net loss per
ADS |
|
|
|
|
|
|
|
| Basic and diluted |
(3.10) |
|
(1.49) |
|
(1.29) |
|
(0.18) |
XPeng (NYSE:XPEV)
Historical Stock Chart
From Dec 2024 to Jan 2025
XPeng (NYSE:XPEV)
Historical Stock Chart
From Jan 2024 to Jan 2025
