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 and fiscal year ended December 31, 2023.
Operational and Financial Highlights for
the Three Months Ended December 31, 2023
|
2023Q4 |
2023Q3 |
2023Q2 |
2023Q1 |
2022Q4 |
2022Q3 |
Total deliveries |
60,158 |
40,008 |
23,205 |
18,230 |
22,204 |
29,570 |
- Total deliveries of
vehicles were 60,158 for the fourth quarter of 2023,
representing an increase of 170.9% from 22,204 in the corresponding
period of 2022.
- XPENG’s physical sales
network had a total of 500 stores, covering 181 cities as
of December 31, 2023.
- XPENG self-operated
charging station network reached 1,108 stations, including
902 XPENG self-operated supercharging stations and 206 destination
charging stations as of December 31, 2023.
- Total revenues
were RMB13.05 billion (US$1.84 billion) for the fourth quarter of
2023, representing an increase of 153.9% from the same period of
2022, and an increase of 53.0% from the third quarter of 2023.
- Revenues
from vehicle
sales were RMB12.23 billion (US$1.72 billion) for
the fourth quarter of 2023, representing an increase of 162.3% from
the same period of 2022, and an increase of 55.9% from the third
quarter of 2023.
- Gross margin was
6.2% for the fourth quarter of 2023, compared with 8.7% for the
same period of 2022 and negative 2.7% for the third quarter of
2023.
- Vehicle margin,
which is gross profit or loss of vehicle sales as a percentage of
vehicle sales revenue, was 4.1% for the fourth quarter of 2023,
compared with 5.7% for the same period of 2022 and negative 6.1%
for the third quarter of 2023.
-
Fair value gain
(loss) on
derivative liability was gain of
RMB0.56 billion (US$0.08 billion) for the fourth quarter of 2023,
compared with loss of RMB0.97 billion for the third quarter of
2023. This non-cash gain (loss) resulted from the fluctuation in
the fair value of the forward share purchase agreement, measured
through profit or loss, related to the issuance of shares by the
Company for strategic minority investment by the Volkswagen Group
(“Volkswagen”).
- Net loss was
RMB1.35 billion (US$0.19 billion) for the fourth quarter of 2023,
compared with RMB2.36 billion for the same period of 2022 and
RMB3.89 billion for the third quarter of 2023. Excluding
share-based compensation expenses, fair value gain (loss) on
derivative liability and fair value gain on derivative liability
relating to the contingent consideration, non-GAAP net
loss was RMB1.77 billion (US$0.25 billion) for the fourth
quarter of 2023, compared with RMB2.21 billion for the same period
of 2022 and RMB2.79 billion for the third quarter of 2023.
- Net loss attributable to
ordinary shareholders of XPENG was RMB1.35 billion
(US$0.19 billion) for the fourth quarter of 2023, compared with
RMB2.36 billion for the same period of 2022 and RMB3.89 billion for
the third quarter of 2023. Excluding share-based compensation
expenses, fair value gain (loss) on derivative liability and fair
value gain on derivative liability relating to the contingent
consideration, non-GAAP net loss attributable to ordinary
shareholders of XPENG was RMB1.77 billion (US$0.25
billion) for the fourth quarter of 2023, compared with RMB2.21
billion for the same period of 2022 and RMB2.79 billion for the
third quarter of 2023.
- Basic and diluted net loss
per American depositary share (ADS) were both RMB1.51
(US$0.21) and basic and diluted net loss per ordinary
share were both RMB0.75 (US$0.11) for the fourth quarter
of 2023. Each ADS represents two Class A ordinary shares.
- Non-GAAP
basic and
diluted net loss
per ADS were both RMB1.98
(US$0.28) and non-GAAP basic and diluted net loss per
ordinary share were both RMB0.99 (US$0.14) for the fourth
quarter of 2023.
- Cash and cash equivalents,
restricted cash, short-term investments and time deposits
were RMB45.70 billion (US$6.44 billion) as of December 31, 2023,
compared with RMB36.48 billion as of September 30, 2023. 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 |
|
December 31, |
|
September 30, |
|
December 31, |
|
|
|
2023 |
|
2023 |
|
2022 |
|
YoY |
|
QoQ |
|
|
|
|
|
|
|
Vehicle sales |
12.23 |
|
7.84 |
|
4.66 |
|
162.3 |
% |
55.9 |
% |
Vehicle margin |
4.1% |
|
-6.1% |
|
5.7% |
|
-1.6pts |
10.2pts |
Total revenues |
13.05 |
|
8.53 |
|
5.14 |
|
153.9 |
% |
53.0 |
% |
Gross profit (loss) |
0.81 |
|
(0.23 |
) |
0.45 |
|
81.9 |
% |
-455.1 |
% |
Gross margin |
6.2% |
|
-2.7% |
|
8.7% |
|
-2.5pts |
8.9pts |
Net loss |
1.35 |
|
3.89 |
|
2.36 |
|
-42.9 |
% |
-65.3 |
% |
Non-GAAP net loss |
1.77 |
|
2.79 |
|
2.21 |
|
-19.9 |
% |
-36.5 |
% |
Net loss attributable to
ordinary shareholders |
1.35 |
|
3.89 |
|
2.36 |
|
-42.9 |
% |
-65.3 |
% |
Non-GAAP net loss attributable
to ordinary shareholders |
1.77 |
|
2.79 |
|
2.21 |
|
-19.9 |
% |
-36.5 |
% |
Comprehensive loss
attributable to ordinary shareholders |
1.57 |
|
4.01 |
|
2.68 |
|
-41.4 |
% |
-60.8 |
% |
___________________i Except for
vehicle margin and gross margin, where absolute changes instead of
percentage changes are presented
Management Commentary
“In 2023, vehicle deliveries of XPENG increased
quarter by quarter, exceeding 60,000 units in the fourth quarter,”
said Mr. Xiaopeng He, Chairman and CEO of XPENG. “Looking beyond
short-term challenges, XPENG is about to embark on a major product
cycle. We plan to launch more than 10 brand new models over the
next three years. We will continue to lead the innovation of
autonomous driving technology, making it affordable and accessible
to a much broader customer base. We will also make market entry
into more international markets. We will continue to expand our
scale and strengthen our technology leadership, as well as
accelerate the commercialization of our industry leading
technologies.”
“Our plans on cost reduction through technology
and engineering as well as operational improvement have begun to
bear fruit. Our vehicle margin increased by approximately 10
percentage points quarter-over-quarter in the fourth quarter,” said
Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of
XPENG. “By the end of 2023, our total cash on hand exceeded RMB45
billion. Robust capital base bolsters our confidence to achieve
high-quality and fast growth in a competitive environment.”
Recent Developments
Deliveries in
January and February 2024
- Total deliveries
were 8,250 vehicles in January 2024.
- Total deliveries
were 4,545 vehicles in February 2024.
- As of February
29, 2024, year-to-date total deliveries were 12,795 vehicles.
Launch of
XPENG X9
On January 1, 2024, XPENG launched XPENG X9
ultra smart large seven-seater MPV and commenced deliveries during
the same month.
Entry into Master Agreement on Strategic
Technical Collaboration and Joint Sourcing Program with the
Volkswagen Group
XPENG and the Volkswagen Group entered into a
Master Agreement on Platform and Software strategic technical
collaboration (“Master Agreement”), marking a
significant milestone in the strategic partnership of both parties.
As part of the Master Agreement, both parties also entered into a
Joint Sourcing Program, targeting to jointly reduce the cost of the
platform.
Unaudited Financial Results for the
Three Months Ended December 31, 2023
Total revenues were RMB13.05
billion (US$1.84 billion) for the fourth quarter of 2023,
representing an increase of 153.9% from RMB5.14 billion for the
same period of 2022 and an increase of 53.0% from RMB8.53 billion
for the third quarter of 2023.
Revenues from vehicle sales
were RMB12.23 billion (US$1.72 billion) for the fourth quarter of
2023, representing an increase of 162.3% from the same period of
2022, and an increase of 55.9% from the third quarter of 2023. The
year-over-year and quarter-over-quarter increases were mainly
attributable to the accelerating sales growth of the G6 and the G9
in the fourth quarter of 2023.
Revenues from services and
others were RMB0.82 billion (US$0.12 billion) for the
fourth quarter of 2023, representing an increase of 71.6% from
RMB0.48 billion for the same period of 2022 and an increase of
20.0% from RMB0.69 billion for the third quarter of 2023. The
year-over-year increase was mainly attributable to the increases of
second-hand vehicle sales, maintenance and supercharging services
sales, which were in line with higher accumulated vehicle sales.
The quarter-over-quarter increase was mainly attributable to the
increase of maintenance and second-hand vehicle sales services,
which were in line with higher accumulated vehicle sales.
Cost of sales was RMB12.24
billion (US$1.72 billion) for the fourth quarter of 2023,
representing an increase of 160.7% from RMB4.70 billion for the
same period of 2022 and an increase of 39.8% from RMB8.76 billion
for the third quarter of 2023. The year-over-year and
quarter-over-quarter increases were mainly in line with vehicle
deliveries as described above.
Gross margin was 6.2% for the
fourth quarter of 2023, compared with 8.7% for the same period of
2022 and negative 2.7% for the third quarter of 2023.
Vehicle margin was 4.1% for the
fourth quarter of 2023, compared with 5.7% for the same period of
2022 and negative 6.1% for the third quarter of 2023. The
year-over-year decrease was explained by (i) the inventory
provision and losses on purchase commitment as a result of upgrades
of existing models, with a negative impact of 1.9 percentage points
on vehicle margin for the fourth quarter of 2023, and (ii)
increased sales promotions, and the expiry of new energy vehicle
subsidies, offset partially by cost reduction and improvement in
product mix of models. The quarter-over-quarter increase was
primarily attributable to the cost reduction and the improvement in
product mix of models.
Research and development
expenses were RMB1.31 billion (US$0.18 billion) for the
fourth quarter of 2023, representing an increase of 6.3% from
RMB1.23 billion for the same period of 2022 and an increase of 0.1%
from RMB1.31 billion for the third quarter of 2023. The
year-over-year increase was mainly in line with timing and progress
of new vehicle programs.
Selling, general and administrative
expenses were RMB1.94 billion (US$0.27 billion) for the
fourth quarter of 2023, representing an increase of 10.3% from
RMB1.76 billion for the same period of 2022 and an increase of
14.4% from RMB1.69 billion for the third quarter of 2023. The
year-over-year and quarter-over-quarter increases were primarily
attributable to the higher commission to the franchised stores
driven by higher sales volume. Furthermore, the
quarter-over-quarter increase was also due to higher marketing,
promotional and advertising expenses to support vehicle sales.
Other income, net was RMB0.35
billion (US$0.05 billion) for the fourth quarter of 2023,
representing an increase of 1408.7% from RMB0.02 billion for the
same period of 2022 and an increase of 440.5% from RMB0.07 billion
for the third quarter of 2023. The year-over-year and
quarter-over-quarter increases were primarily attributable to the
increased government subsidies.
Loss from operations was
RMB2.05 billion (US$0.29 billion) for the fourth quarter of 2023,
compared with RMB2.52 billion for the same period of 2022 and
RMB3.16 billion for the third quarter of 2023.
Non-GAAP loss from operations,
which excludes share-based compensation expenses and fair value
gain on derivative liability relating to the contingent
consideration, was RMB1.92 billion (US$0.27 billion) for the fourth
quarter of 2023, compared with RMB2.37 billion for the same period
of 2022 and RMB3.04 billion for the third quarter of 2023.
Net loss was RMB1.35 billion
(US$0.19 billion) for the fourth quarter of 2023, compared with
RMB2.36 billion for the same period of 2022 and RMB3.89 billion for
the third quarter of 2023.
Fair value gain (loss) on derivative
liability was gain of RMB0.56 billion (US$0.08 billion)
for the fourth quarter of 2023, compared with loss of RMB0.97
billion for the third quarter of 2023. This non-cash gain (loss)
resulted from the fluctuation in the fair value of the forward
share purchase agreement, measured through profit or loss, related
to the issuance of shares by the Company for strategic minority
investment by the Volkswagen.
Non-GAAP net loss, which
excludes share-based compensation expenses, fair value gain (loss)
on derivative liability and fair value gain on derivative liability
relating to the contingent consideration, was RMB1.77 billion
(US$0.25 billion) for the fourth quarter of 2023, compared with
RMB2.21 billion for the same period of 2022 and RMB2.79 billion for
the third quarter of 2023.
Net loss attributable to ordinary
shareholders of XPENG was RMB1.35 billion (US$0.19
billion) for the fourth quarter of 2023, compared with RMB2.36
billion for the same period of 2022 and RMB3.89 billion for the
third quarter of 2023.
Non-GAAP net loss attributable to
ordinary shareholders of XPENG, which excludes share-based
compensation expenses, fair value gain (loss) on derivative
liability and fair value gain on derivative liability relating to
the contingent consideration, was RMB1.77 billion (US$0.25 billion)
for the fourth quarter of 2023, compared with RMB2.21 billion for
the same period of 2022 and RMB2.79 billion for the third quarter
of 2023.
Basic and diluted net loss per
ADS were both RMB1.51 (US$0.21) for the fourth quarter of
2023, compared with RMB2.74 for the fourth quarter of 2022 and
RMB4.49 for the third quarter of 2023.
Non-GAAP basic and diluted net loss per
ADS were both RMB1.98 (US$0.28) for the fourth quarter of
2023, compared with RMB2.57 for the fourth quarter of 2022 and
RMB3.23 for the third quarter of 2023.
Balance Sheets
As of December 31, 2023, the Company had cash
and cash equivalents, restricted cash, short-term investments and
time deposits of RMB45.70 billion (US$6.44 billion), compared with
RMB38.25 billion as of December 31, 2022 and RMB36.48 billion as of
September 30, 2023.
Unaudited Financial Results for the
Fiscal Year Ended December 31, 2023
Total revenues were RMB30.68
billion (US$4.32 billion) for fiscal year of 2023, representing an
increase of 14.2% from RMB26.86 billion for the prior year.
Revenues from vehicle sales
were RMB28.01 billion (US$3.95 billion) for fiscal year of 2023,
representing an increase of 12.8% from RMB24.84 billion for the
prior year. The year-over-year increase was mainly attributable to
the accelerating sales growth of the G6 and the G9 in the fiscal
year.
Revenues from
services and
others were RMB2.67 billion (US$0.38 billion) for
fiscal year of 2023, representing an increase of 32.2% from RMB2.02
billion for the prior year. The year-over-year increase was mainly
attributable to the increases of second-hand vehicle sales,
maintenance and supercharging services sales, which were in line
with higher accumulated vehicle sales.
Cost of
sales was RMB30.22 billion (US$4.26 billion) for
fiscal year of 2023, representing an increase of 27.2% from
RMB23.77 billion for the prior year. The year-over-year increase
was mainly in line with vehicle deliveries as described above.
Gross margin
was 1.5% for fiscal year of 2023, compared with 11.5% for the prior
year.
Vehicle margin
was negative 1.6% for fiscal year of 2023, compared with 9.4% for
the prior year. The year-over-year decrease was explained by (i)
increased sales promotions, and the expiry of new energy vehicle
subsidies, and (ii) the inventory provisions and losses on purchase
commitment related to the G3i and upgrades of existing models, with
a negative impact of 2.4 percentage points on vehicle margin for
the fiscal year. Excluding aforementioned (ii), the vehicle margin
was positive 0.8%.
Research and
development expenses were RMB5.28
billion (US$0.74 billion) for fiscal year of 2023, representing an
increase of 1.2% from RMB5.21 billion for the prior year. The
year-over-year increase was mainly in line with timing and progress
of new vehicle programs.
Selling, general and administrative
expenses were RMB6.56 billion (US$0.92 billion) for fiscal
year of 2023, representing a decrease of 1.9% from RMB6.69 billion
for the prior year. The year-over-year decrease was primarily
attributable to the decrease of marketing, promotional and
advertising expenses.
Other income,
net was RMB0.47 billion (US$0.07 billion) for
fiscal year of 2023, representing an increase of 326.5% from
RMB0.11 billion for the prior year. The year-over-year increase was
primarily attributable to the increased government subsidies.
Loss from
operations was RMB10.89 billion (US$1.53 billion)
for fiscal year of 2023, compared with RMB8.71 billion for the
prior year.
Non-GAAP loss
from operations, which excludes
share-based compensation expenses and fair value gain on derivative
liability relating to the contingent consideration, was RMB10.37
billion (US$1.46 billion) for fiscal year of 2023, compared with
RMB8.00 billion for the prior year.
Net loss was
RMB10.38 billion (US$1.46 billion) for fiscal year of 2023,
compared with RMB9.14 billion for the prior year.
Fair value
loss on
derivative liability was RMB0.41
billion (US$0.06 billion) for fiscal year of 2023. For fiscal year
of 2023, this non-cash loss resulted from the fluctuation in the
fair value of the forward share purchase agreement, measured
through profit or loss, related to the issuance of shares by the
Company for strategic minority investment by the Volkswagen.
Non-GAAP net loss, which
excludes share-based compensation expenses, fair value gain (loss)
on derivative liability and fair value gain on derivative liability
relating to the contingent consideration, was RMB9.44 billion
(US$1.33 billion) for fiscal year of 2023, compared with RMB8.43
billion for the prior year.
Net loss
attributable to ordinary
shareholders of XPENG was RMB10.38 billion (US$1.46
billion) for fiscal year of 2023, compared with RMB9.14 billion for
the prior year.
Non-GAAP net
loss attributable
to ordinary
shareholders of
XPENG, which excludes share-based compensation
expenses, fair value gain (loss) on derivative liability and fair
value gain on derivative liability relating to the contingent
consideration, was RMB9.44 billion (US$1.33 billion) for fiscal
year of 2023, compared with RMB8.43 billion for the prior year.
Basic and
diluted net loss
per ADS were both RMB11.92
(US$1.68) for fiscal year of 2023, compared with RMB10.67 for the
prior year.
Non-GAAP basic and diluted net loss per
ADS were both RMB10.85 (US$1.53) for fiscal year of 2023,
compared with RMB9.84 for the prior year.
Business Outlook
For the first quarter of 2024, the Company
expects:
- Deliveries
of vehicles to be between 21,000
and 22,500, representing a year-over-year increase of approximately
15.2% to 23.4%.
-
Total revenues to be between
RMB5.8 billion and RMB6.2 billion, representing a year-over-year
increase of approximately 43.8% to 53.7%.
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 March 19, 2024
(8:00 PM Beijing/Hong Kong Time on March 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 Fourth
Quarter and Fiscal Year 2023 Earnings Conference Call |
Pre-registration link: |
https://s1.c-conf.com/diamondpass/10036740-6pn4dk.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 March 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: |
10036740 |
|
|
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 RMB7.0999 to US$1.00, the exchange rate on
December 29, 2023, set forth in the H.10 statistical release of the
Federal Reserve Board. The Company makes no representation that the
RMB or U.S. dollars amounts referred could be converted into U.S.
dollars or RMB, as the case may be, at any particular rate or at
all.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates” and similar
statements. Statements that are not historical facts, including
statements about XPENG’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: XPENG’s goal and strategies; XPENG’s expansion plans;
XPENG’s future business development, financial condition and
results of operations; the trends in, and size of, China’s EV
market; XPENG’s expectations regarding demand for, and market
acceptance of, its products and services; XPENG’s expectations
regarding its relationships with customers, 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) |
|
|
|
|
|
As of December 31 |
|
|
2022 |
|
2023 |
|
2023 |
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
14,607,774 |
|
21,127,163 |
|
2,975,699 |
Restricted cash |
|
106,272 |
|
3,174,886 |
|
447,173 |
Short-term deposits |
|
14,921,688 |
|
9,756,979 |
|
1,374,242 |
Short-term investments |
|
1,262,129 |
|
781,216 |
|
110,032 |
Long-term deposits, current
portion |
|
427,466 |
|
7,054,915 |
|
993,664 |
Accounts and notes receivable,
net |
|
3,872,846 |
|
2,716,216 |
|
382,571 |
Installment payment
receivables, net, current portion |
|
1,294,665 |
|
1,881,755 |
|
265,040 |
Inventory |
|
4,521,373 |
|
5,526,212 |
|
778,351 |
Amounts due from related
parties |
|
47,124 |
|
12,948 |
|
1,824 |
Prepayments and other current
assets |
|
2,466,084 |
|
2,489,339 |
|
350,616 |
Total current
assets |
|
43,527,421 |
|
54,521,629 |
|
7,679,212 |
Non-current
assets |
|
|
|
|
|
|
Long-term deposits |
|
6,926,450 |
|
3,035,426 |
|
427,531 |
Restricted long-term
deposits |
|
- |
|
767,899 |
|
108,156 |
Property, plant and equipment,
net |
|
10,606,745 |
|
10,954,485 |
|
1,542,907 |
Right-of-use assets, net |
|
1,954,618 |
|
1,455,865 |
|
205,054 |
Intangible assets, net |
|
1,042,972 |
|
4,948,992 |
|
697,051 |
Land use rights, net |
|
2,747,854 |
|
2,789,367 |
|
392,874 |
Installment payment
receivables, net |
|
2,188,643 |
|
3,027,795 |
|
426,456 |
Long-term investments |
|
2,295,032 |
|
2,084,933 |
|
293,657 |
Other non-current assets |
|
201,271 |
|
576,150 |
|
81,149 |
Total non-current
assets |
|
27,963,585 |
|
29,640,912 |
|
4,174,835 |
Total
assets |
|
71,491,006 |
|
84,162,541 |
|
11,854,047 |
|
|
|
|
|
|
|
XPENG INC.UNAUDITED
CONDENSED CONSOLIDATED BALANCE
SHEETS (CONTINUED)(All amounts in
thousands, except for ADS/ordinary share and per ADS/ordinary share
data) |
|
|
|
|
|
As of December 31 |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
Short-term borrowings |
|
2,419,210 |
|
|
3,889,100 |
|
|
547,768 |
|
Accounts and notes
payable |
|
14,222,856 |
|
|
22,210,431 |
|
|
3,128,274 |
|
Amounts due to related
parties |
|
91,111 |
|
|
30,880 |
|
|
4,349 |
|
Operating lease liabilities,
current portion |
|
490,811 |
|
|
365,999 |
|
|
51,550 |
|
Finance lease liabilities,
current portion |
|
128,279 |
|
|
34,382 |
|
|
4,843 |
|
Deferred revenue, current
portion |
|
389,243 |
|
|
630,997 |
|
|
88,874 |
|
Long-term borrowings, current
portion |
|
761,859 |
|
|
1,363,835 |
|
|
192,092 |
|
Accruals and other
liabilities |
|
5,583,829 |
|
|
7,580,195 |
|
|
1,067,648 |
|
Income taxes payable |
|
27,655 |
|
|
5,743 |
|
|
809 |
|
Total current
liabilities |
|
24,114,853 |
|
|
36,111,562 |
|
|
5,086,207 |
|
Non-current
liabilities |
|
|
|
|
|
|
Long-term borrowings |
|
4,613,057 |
|
|
5,650,782 |
|
|
795,896 |
|
Operating lease
liabilities |
|
1,854,576 |
|
|
1,490,882 |
|
|
209,986 |
|
Finance lease liabilities |
|
797,743 |
|
|
777,697 |
|
|
109,536 |
|
Deferred revenue |
|
694,006 |
|
|
668,946 |
|
|
94,219 |
|
Derivative liability |
|
- |
|
|
393,473 |
|
|
55,420 |
|
Deferred tax liabilities |
|
- |
|
|
404,018 |
|
|
56,905 |
|
Other non-current
liabilities |
|
2,506,106 |
|
|
2,336,654 |
|
|
329,111 |
|
Total non-current
liabilities |
|
10,465,488 |
|
|
11,722,452 |
|
|
1,651,073 |
|
Total
liabilities |
|
34,580,341 |
|
|
47,834,014 |
|
|
6,737,280 |
|
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
Class A Ordinary shares |
|
92 |
|
|
103 |
|
|
15 |
|
Class B Ordinary shares |
|
21 |
|
|
21 |
|
|
3 |
|
Additional paid-in
capital |
|
60,691,019 |
|
|
70,198,031 |
|
|
9,887,186 |
|
Statutory and other
reserves |
|
6,425 |
|
|
60,035 |
|
|
8,456 |
|
Accumulated deficit |
|
(25,330,916 |
) |
|
(35,760,301 |
) |
|
(5,036,733 |
) |
Accumulated other
comprehensive income |
|
1,544,024 |
|
|
1,830,638 |
|
|
257,840 |
|
Total shareholders'
equity |
|
36,910,665 |
|
|
36,328,527 |
|
|
5,116,767 |
|
Total liabilities and
shareholders’ equity |
|
71,491,006 |
|
|
84,162,541 |
|
|
11,854,047 |
|
|
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 |
|
December 31, |
|
|
September 30, |
|
|
December 31, |
|
|
December 31, |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
Vehicle sales |
4,661,182 |
|
|
7,844,239 |
|
|
12,228,314 |
|
|
1,722,322 |
|
Services and others |
479,167 |
|
|
685,282 |
|
|
822,116 |
|
|
115,793 |
|
Total
revenues |
5,140,349 |
|
|
8,529,521 |
|
|
13,050,430 |
|
|
1,838,115 |
|
Cost of
sales |
|
|
|
|
|
|
|
Vehicle sales |
(4,397,201 |
) |
|
(8,319,890 |
) |
|
(11,732,955 |
) |
|
(1,652,552 |
) |
Services and others |
(298,084 |
) |
|
(437,589 |
) |
|
(508,003 |
) |
|
(71,551 |
) |
Total cost of
sales |
(4,695,285 |
) |
|
(8,757,479 |
) |
|
(12,240,958 |
) |
|
(1,724,103 |
) |
Gross profit
(loss) |
445,064 |
|
|
(227,958 |
) |
|
809,472 |
|
|
114,012 |
|
Operating
expenses |
|
|
|
|
|
|
|
Research and development expenses |
(1,230,049 |
) |
|
(1,305,868 |
) |
|
(1,307,745 |
) |
|
(184,192 |
) |
Selling, general and administrative expenses |
(1,755,815 |
) |
|
(1,692,194 |
) |
|
(1,936,503 |
) |
|
(272,751 |
) |
Total operating
expenses |
(2,985,864 |
) |
|
(2,998,062 |
) |
|
(3,244,248 |
) |
|
(456,943 |
) |
Other income, net |
23,357 |
|
|
65,192 |
|
|
352,391 |
|
|
49,633 |
|
Fair value gain on derivative
liability |
|
|
|
|
|
|
|
|
|
|
|
relating to the contingent consideration |
- |
|
|
- |
|
|
29,339 |
|
|
4,132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations |
(2,517,443 |
) |
|
(3,160,828 |
) |
|
(2,053,046 |
) |
|
(289,166 |
) |
Interest income |
273,367 |
|
|
314,004 |
|
|
342,780 |
|
|
48,280 |
|
Interest expense |
(51,079 |
) |
|
(65,767 |
) |
|
(73,225 |
) |
|
(10,314 |
) |
Fair value gain (loss) on
derivative assets or derivative liabilities |
1,398 |
|
|
(971,832 |
) |
|
561,415 |
|
|
79,074 |
|
Investment loss on long-term
investments |
(102,798 |
) |
|
(8,782 |
) |
|
(185,318 |
) |
|
(26,101 |
) |
Exchange (loss) gain from
foreign currency transactions |
(17,454 |
) |
|
5,972 |
|
|
46,362 |
|
|
6,530 |
|
Other non-operating income,
net |
37,761 |
|
|
4,282 |
|
|
27,364 |
|
|
3,854 |
|
Loss before income tax
benefit (expenses) and share of results of
equity method investees |
(2,376,248 |
) |
|
(3,882,951 |
) |
|
(1,333,668 |
) |
|
(187,843 |
) |
Income tax benefit
(expenses) |
10,445 |
|
|
(682 |
) |
|
(21,754 |
) |
|
(3,064 |
) |
Share of results of equity
method investees |
4,628 |
|
|
(2,917 |
) |
|
7,807 |
|
|
1,100 |
|
Net loss |
(2,361,175 |
) |
|
(3,886,550 |
) |
|
(1,347,615 |
) |
|
(189,807 |
) |
Net loss attributable
to ordinary shareholders of XPeng Inc. |
(2,361,175 |
) |
|
(3,886,550 |
) |
|
(1,347,615 |
) |
|
(189,807 |
) |
|
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 |
|
December 31, |
|
|
September 30, |
|
|
December 31, |
|
|
December 31, |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
Net loss |
(2,361,175 |
) |
|
(3,886,550 |
) |
|
(1,347,615 |
) |
|
(189,807 |
) |
Other comprehensive
loss |
|
|
|
|
|
|
|
Foreign currency translation
adjustment, net of tax |
(318,072 |
) |
|
(123,081 |
) |
|
(222,618 |
) |
|
(31,355 |
) |
Total comprehensive
loss |
|
|
|
|
|
|
|
|
|
|
|
attributable to XPeng Inc. |
(2,679,247 |
) |
|
(4,009,631 |
) |
|
(1,570,233 |
) |
|
(221,162 |
) |
Comprehensive loss
attributable to |
|
|
|
|
|
|
|
|
|
|
|
ordinary shareholders of XPeng Inc. |
(2,679,247 |
) |
|
(4,009,631 |
) |
|
(1,570,233 |
) |
|
(221,162 |
) |
|
|
|
|
|
|
|
|
Weighted average
number of |
|
|
|
|
|
|
|
ordinary shares used in computing net loss per ordinary
share |
|
|
|
|
|
|
|
Basic and diluted |
1,720,448,811 |
|
|
1,729,980,347 |
|
|
1,787,655,242 |
|
|
1,787,655,242 |
|
Net loss per ordinary
share attributable to ordinary shareholders |
|
|
|
|
|
|
|
Basic and diluted |
(1.37 |
) |
|
(2.25 |
) |
|
(0.75 |
) |
|
(0.11 |
) |
|
|
|
|
|
|
|
|
Weighted average
number of ADS |
|
|
|
|
|
|
|
used in computing net loss per share |
|
|
|
|
|
|
|
Basic and diluted |
860,224,405 |
|
|
864,990,174 |
|
|
893,827,621 |
|
|
893,827,621 |
|
Net loss per ADS
attributable to ordinary shareholders |
|
|
|
|
|
|
|
Basic and diluted |
(2.74 |
) |
|
(4.49 |
) |
|
(1.51 |
) |
|
(0.21 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
December 31, |
|
|
September 30, |
|
|
December 31, |
|
|
December 31, |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
Loss from operations |
(2,517,443 |
) |
|
(3,160,828 |
) |
|
(2,053,046 |
) |
|
(289,166 |
) |
Fair value gain on derivative
liability |
|
|
|
|
|
|
|
|
|
|
|
relating to the contingent consideration |
- |
|
|
- |
|
|
(29,339 |
) |
|
(4,132 |
) |
Share-based compensation
expenses |
148,783 |
|
|
124,291 |
|
|
167,036 |
|
|
23,527 |
|
Non-GAAP loss from
operations |
(2,368,660 |
) |
|
(3,036,537 |
) |
|
(1,915,349 |
) |
|
(269,771 |
) |
Net loss |
(2,361,175 |
) |
|
(3,886,550 |
) |
|
(1,347,615 |
) |
|
(189,807 |
) |
Fair value gain on derivative
liability |
|
|
|
|
|
|
|
|
|
|
|
relating to the contingent consideration |
- |
|
|
- |
|
|
(29,339 |
) |
|
(4,132 |
) |
Fair value loss (gain) on
derivative liability |
- |
|
|
971,832 |
|
|
(561,415 |
) |
|
(79,074 |
) |
Share-based compensation
expenses |
148,783 |
|
|
124,291 |
|
|
167,036 |
|
|
23,527 |
|
Non-GAAP net
loss |
(2,212,392 |
) |
|
(2,790,427 |
) |
|
(1,771,333 |
) |
|
(249,486 |
) |
Net loss attributable to
ordinary shareholders |
(2,361,175 |
) |
|
(3,886,550 |
) |
|
(1,347,615 |
) |
|
(189,807 |
) |
Fair value gain on derivative
liability |
|
|
|
|
|
|
|
|
|
|
|
relating to the contingent consideration |
- |
|
|
- |
|
|
(29,339 |
) |
|
(4,132 |
) |
Fair value loss (gain) on
derivative liability |
- |
|
|
971,832 |
|
|
(561,415 |
) |
|
(79,074 |
) |
Share-based compensation
expenses |
148,783 |
|
|
124,291 |
|
|
167,036 |
|
|
23,527 |
|
Non-GAAP net loss
attributable to ordinary shareholders of XPeng
Inc. |
(2,212,392 |
) |
|
(2,790,427 |
) |
|
(1,771,333 |
) |
|
(249,486 |
) |
|
|
|
|
|
|
|
|
XPENG INC.UNAUDITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(CONTINUED)(All amounts in thousands, except for
ADS/ordinary share and per ADS/ordinary share data) |
|
|
|
Three Months Ended |
|
December 31, |
|
|
September 30, |
|
|
December 31, |
|
|
December 31, |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
2023 |
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in
calculating Non-GAAP net loss per
share |
|
|
|
|
|
|
|
Basic and diluted |
1,720,448,811 |
|
|
1,729,980,347 |
|
|
1,787,655,242 |
|
|
1,787,655,242 |
|
Non-GAAP net loss per
ordinary share |
|
|
|
|
|
|
|
Basic and diluted |
(1.29 |
) |
|
(1.61 |
) |
|
(0.99 |
) |
|
(0.14 |
) |
Weighted average
number of ADS used in calculating Non-GAAP
net loss per share |
|
|
|
|
|
|
|
Basic and diluted |
860,224,405 |
|
|
864,990,174 |
|
|
893,827,621 |
|
|
893,827,621 |
|
Non-GAAP net loss per
ADS |
|
|
|
|
|
|
|
Basic and diluted |
(2.57 |
) |
|
(3.23 |
) |
|
(1.98 |
) |
|
(0.28 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
XPENG INC.UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
LOSS(All amounts in thousands, except for ADS/ordinary
share and per ADS/ordinary share data) |
|
|
|
For the Year Ended December 31 |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
Vehicle sales |
|
24,839,637 |
|
|
28,010,857 |
|
|
3,945,247 |
|
Services and others |
|
2,015,482 |
|
|
2,665,210 |
|
|
375,387 |
|
Total
revenues |
|
26,855,119 |
|
|
30,676,067 |
|
|
4,320,634 |
|
Cost of
sales |
|
|
|
|
|
|
Vehicle sales |
|
(22,493,122 |
) |
|
(28,457,909 |
) |
|
(4,008,213 |
) |
Services and others |
|
(1,273,606 |
) |
|
(1,767,003 |
) |
|
(248,877 |
) |
Total cost of
sales |
|
(23,766,728 |
) |
|
(30,224,912 |
) |
|
(4,257,090 |
) |
Gross
profit |
|
3,088,391 |
|
|
451,155 |
|
|
63,544 |
|
Operating
expenses |
|
|
|
|
|
|
Research and development
expenses |
|
(5,214,836 |
) |
|
(5,276,574 |
) |
|
(743,190 |
) |
Selling, general and
administrative expenses |
|
(6,688,246 |
) |
|
(6,558,942 |
) |
|
(923,808 |
) |
Total operating
expenses |
|
(11,903,082 |
) |
|
(11,835,516 |
) |
|
(1,666,998 |
) |
Other income, net |
|
109,168 |
|
|
465,588 |
|
|
65,577 |
|
Fair value gain on derivative
liability |
|
|
|
|
|
|
|
|
|
relating to the contingent consideration |
|
- |
|
|
29,339 |
|
|
4,132 |
|
Loss from
operations |
|
(8,705,523 |
) |
|
(10,889,434 |
) |
|
(1,533,745 |
) |
Interest income |
|
1,058,771 |
|
|
1,260,162 |
|
|
177,490 |
|
Interest expense |
|
(132,192 |
) |
|
(268,666 |
) |
|
(37,841 |
) |
Fair value gain (loss) on
derivative assets or derivative liabilities |
|
59,357 |
|
|
(410,417 |
) |
|
(57,806 |
) |
Investment gain (loss) on
long-term investments |
|
25,062 |
|
|
(224,364 |
) |
|
(31,601 |
) |
Exchange (loss) gain from
foreign currency transactions |
|
(1,460,151 |
) |
|
97,080 |
|
|
13,673 |
|
Other non-operating income,
net |
|
36,318 |
|
|
41,934 |
|
|
5,906 |
|
Loss before income tax
expenses and share of results of equity method
investees |
|
(9,118,358 |
) |
|
(10,393,705 |
) |
|
(1,463,924 |
) |
Income tax expenses |
|
(24,731 |
) |
|
(36,810 |
) |
|
(5,185 |
) |
Share of results of equity
method investees |
|
4,117 |
|
|
54,740 |
|
|
7,710 |
|
Net loss |
|
(9,138,972 |
) |
|
(10,375,775 |
) |
|
(1,461,399 |
) |
Net loss attributable
to ordinary shareholders of XPeng Inc. |
|
(9,138,972 |
) |
|
(10,375,775 |
) |
|
(1,461,399 |
) |
|
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) |
|
|
|
For the Year Ended December 31 |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
Net loss |
|
(9,138,972 |
) |
|
(10,375,775 |
) |
|
(1,461,399 |
) |
Other comprehensive income |
|
|
|
|
|
|
Foreign currency translation
adjustment, net of tax |
|
3,192,573 |
|
|
286,614 |
|
|
40,369 |
|
Total comprehensive
loss attributable to XPeng Inc. |
|
(5,946,399 |
) |
|
(10,089,161 |
) |
|
(1,421,030 |
) |
Comprehensive loss
attributable to ordinary shareholders of XPeng
Inc. |
|
(5,946,399 |
) |
|
(10,089,161 |
) |
|
(1,421,030 |
) |
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in computing net loss
per ordinary share |
|
|
|
|
|
|
Basic and diluted |
|
1,712,533,564 |
|
|
1,740,921,519 |
|
|
1,740,921,519 |
|
Net loss per ordinary
share attributable to ordinary shareholders |
|
|
|
|
|
|
Basic and diluted |
|
(5.34 |
) |
|
(5.96 |
) |
|
(0.84 |
) |
|
|
|
|
|
|
|
Weighted average
number of ADS used in computing net loss per
share |
|
|
|
|
|
|
Basic and diluted |
|
856,266,782 |
|
|
870,460,760 |
|
|
870,460,760 |
|
Net loss per ADS
attributable to ordinary shareholders |
|
|
|
|
|
|
Basic and diluted |
|
(10.67 |
) |
|
(11.92 |
) |
|
(1.68 |
) |
|
|
|
|
|
|
|
|
|
|
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) |
|
|
|
For the Year Ended December 31 |
|
|
2022 |
|
|
2023 |
|
|
2023 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
|
|
|
|
|
|
Loss from operations |
|
(8,705,523 |
) |
|
(10,889,434 |
) |
|
(1,533,745 |
) |
Share-based compensation
expenses |
|
710,486 |
|
|
550,535 |
|
|
77,541 |
|
Fair value gain on derivative
liability relating to the contingent consideration |
|
- |
|
|
(29,339 |
) |
|
(4,132 |
) |
Non-GAAP loss from
operations |
|
(7,995,037 |
) |
|
(10,368,238 |
) |
|
(1,460,336 |
) |
Net loss |
|
(9,138,972 |
) |
|
(10,375,775 |
) |
|
(1,461,399 |
) |
Fair value gain on derivative
liability relating to the contingent consideration |
|
- |
|
|
(29,339 |
) |
|
(4,132 |
) |
Fair value loss on derivative
liability |
|
- |
|
|
410,417 |
|
|
57,806 |
|
Share-based compensation
expenses |
|
710,486 |
|
|
550,535 |
|
|
77,541 |
|
Non-GAAP net
loss |
|
(8,428,486 |
) |
|
(9,444,162 |
) |
|
(1,330,184 |
) |
Net loss attributable to
ordinary shareholders |
|
(9,138,972 |
) |
|
(10,375,775 |
) |
|
(1,461,399 |
) |
Fair value gain on derivative
liability relating to the contingent consideration |
|
- |
|
|
(29,339 |
) |
|
(4,132 |
) |
Fair value loss on derivative
liability |
|
- |
|
|
410,417 |
|
|
57,806 |
|
Share-based compensation
expenses |
|
710,486 |
|
|
550,535 |
|
|
77,541 |
|
Non-GAAP net loss
attributable to ordinary shareholders of XPeng Inc. |
|
(8,428,486 |
) |
|
(9,444,162 |
) |
|
(1,330,184 |
) |
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in |
|
|
|
|
|
|
calculating Non-GAAP net loss per share |
|
|
|
|
|
|
Basic and diluted |
|
1,712,533,564 |
|
|
1,740,921,519 |
|
|
1,740,921,519 |
|
Non-GAAP net loss per
ordinary share |
|
|
|
|
|
|
Basic and diluted |
|
(4.92 |
) |
|
(5.42 |
) |
|
(0.76 |
) |
Weighted average
number of ADS used in calculating Non-GAAP net loss per
share |
|
|
|
|
|
|
Basic and diluted |
|
856,266,782 |
|
|
870,460,760 |
|
|
870,460,760 |
|
Non-GAAP net loss per
ADS |
|
|
|
|
|
|
Basic and diluted |
|
(9.84 |
) |
|
(10.85 |
) |
|
(1.53 |
) |
|
|
|
|
|
|
|
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