小鹏汽车2023年Q1业绩公告-9页_183kb

XPENG Q1 2023 Financial Summary

Core Content

XPENG Inc. (NYSE: XPEV, HKEX: 9868) released its unaudited financial results for the first quarter of 2023, highlighting both financial performance and strategic developments. The company is a leading Chinese smart electric vehicle (Smart EV) manufacturer, focusing on technology-driven mobility solutions.

Key Financial Highlights

• Total Deliveries: 18,230 vehicles in Q1 2023, a 17.9% decrease from Q4 2022.
• Cash and Cash Equivalents: RMB34.12 billion (US$4.97 billion) as of March 31, 2023, down from RMB41.71 billion as of March 31, 2022.
• Total Revenues: RMB4.03 billion (US$0.59 billion), a 45.9% YoY decrease and 21.5% QoQ decrease.
• Gross Margin: 1.7% in Q1 2023, down 7.0 percentage points from Q4 2022.
• Vehicle Margin: Negative 2.5% in Q1 2023, compared to 10.4% in Q1 2022 and 5.7% in Q4 2022.
• Net Loss: RMB2.34 billion (US$0.34 billion), an increase of 37.4% YoY and a slight decrease of 1.0% QoQ.
• Non-GAAP Net Loss: RMB2.21 billion (US$0.32 billion), up 44.8% YoY and stable QoQ.
• Earnings Per Share (EPS): Basic and diluted net loss per ordinary share was RMB1.36 (US$0.20), and per ADS was RMB2.71 (US$0.40). Non-GAAP EPS was RMB1.28 (US$0.19) and RMB2.57 (US$0.37), respectively.

Operational and Strategic Developments

• XPENG expanded its physical sales network to 425 stores across 145 cities as of March 31, 2023.
• The self-operated charging station network reached 1,016 stations, including 816 supercharging stations.
• The G6, a new model based on the SEPA2.0 technology architecture, was set for launch in June 2023.
• The company emphasized its commitment to accelerating sales growth and improving cash flow from operations.

Revenue Breakdown

• Vehicle Sales Revenue: RMB3.51 billion (US$0.51 billion), a 49.8% YoY decrease and 24.6% QoQ decrease.
• Services and Others Revenue: RMB0.52 billion (US$0.08 billion), up 13.9% YoY and 8.4% QoQ, driven by increased parts and service sales.

Expense Overview

• Cost of Sales: RMB3.97 billion (US$0.58 billion), down 39.4% YoY and 15.5% QoQ, in line with lower vehicle deliveries.
• Research and Development Expenses: RMB1.30 billion (US$0.19 billion), up 6.1% YoY and 5.3% QoQ, due to new vehicle development efforts.
• Selling, General and Administrative Expenses: RMB1.39 billion (US$0.20 billion), down 15.5% YoY and 21.0% QoQ, attributed to reduced commission and marketing expenses.

Balance Sheet Summary

• Total Assets: RMB67.459 billion (US$9.82 billion) as of March 31, 2023, compared to RMB71.491 billion (US$10.54 billion) as of December 31, 2022.
• Total Liabilities: RMB33.004 billion (US$4.80 billion) as of March 31, 2023, compared to RMB34.580 billion (US$5.07 billion) as of March 31, 2022.
• Shareholders' Equity: RMB34.454 billion (US$5.02 billion) as of March 31, 2023, compared to RMB36.910 billion (US$5.41 billion) as of March 31, 2022.

Business Outlook

For Q2 2023, XPENG expects:

• Vehicle Deliveries: Between 21,000 and 22,000 units, a 36.1% to 39.0% YoY decrease.
• Total Revenues: Between RMB4.5 billion and RMB4.7 billion, a 36.8% to 39.5% YoY decrease.

Conference Call

XPENG will host a Q1 2023 earnings conference call on May 24, 2023, at 8:00 AM U.S. Eastern Time. Participants can join via the following pre-registration link:
https://s1.c-conf.com/diamondpass/10030387-tfg8sj.html

A live and archived webcast will be available on the Company's investor relations website:
http://ir.xiaopeng.com

Replay details:

• United States: +1-855-883-1031
• International: +61-7-3107-6325
• Hong Kong, China: 800-930-639
• Mainland China: 400-120-9216
• Access Code: 10030387

About XPENG

XPENG is a leading Chinese Smart EV company that designs, develops, and markets smart electric vehicles for technology-savvy middle-class consumers. It is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego, and Amsterdam. Its vehicles are primarily manufactured in Zhaoqing and Guangzhou, Guangdong province.

Non-GAAP Financial Measures

The company uses non-GAAP measures to evaluate performance and for decision-making purposes. These include non-GAAP net loss and non-GAAP loss from operations, which exclude share-based compensation expenses. Non-GAAP measures provide insight into underlying trends but are not presented in accordance with U.S. GAAP and should not be used in isolation.

Exchange Rate Information

All RMB amounts are translated to U.S. dollars using the rate of RMB6.8676 to US$1.00, as of March 31, 2023. The company does not guarantee the conversion rate for future periods.

Safe Harbor Statement

This report contains forward-looking statements under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties and may differ materially from actual results. For more details, refer to the company's filings with the U.S. SEC.