- Quarterly vehicle deliveries reached 41,751, a 222% increase year-over-year
- Quarterly total revenues reached RMB8,556.0 million, a 200.1% increase year-over-year
- Quarterly gross margin reached 12.0%, an increase of 4.6 percentage points year-over-year
- Full year deliveries were 98,155 vehicles, a 263% increase year-over-year
- Full year total revenues reached RMB20,988.1 million
- Full year gross margin reached 12.5%, an increase of 7.9 percentage points year-over-year
XPeng shares jumped more than 5% in premarket trading.
XPeng reports fourth quarter and fiscal year 2021 unaudited financial results.
- Total deliveries of vehicleswere 41,751 in the fourth quarter of 2021, representing an increase of 222% from 12,964 in the corresponding period of 2020 and an increase of 63% from 25,666 in the third quarter of 2021. Deliveries exceeded the monthly delivery benchmark of 15,000 units for two consecutive months in November and December 2021.
- Deliveries of the P7 smart sports sedanwere 21,342 in the fourth quarter of 2021, representing an increase of 150% from 8,527 in the corresponding period of 2020. The order for the P7 is continuing to gain momentum.
- Deliveries of the P5 smart family sedansustained solid ramp-up momentum following its mass-delivery launch in October 2021 and reached 5,030 in December 2021. Among the total P5s delivered in the fourth quarter of 2021, over 50% can support XPILOT 3.0 or XPILOT 3.5.
- Inaugural debut of the G9 flagship smart SUV,XPeng’s fourth production model, was featured at the Guangzhou International Auto Exhibition on November 19, 2021. Official launch of the G9 is expected in the third quarter of 2022.
- XPeng’s physical sales networkcontinued rapid expansion with a total of 357 stores in operation, covering 129 cities as of December 31, 2021.
- XPeng-branded supercharging stationsexpanded to 772, covering 308 cities across China as of December 31, 2021, offering a more comprehensive charging network.
- Total revenueswere RMB8,556.0 million (US$1,342.6 million) for the fourth quarter of 2021, representing an increase of 200.1% from the same period of 2020, and an increase of 49.6% from the third quarter of 2021.
- Revenues from vehicle saleswere RMB8,187.2 million (US$1,284.7 million) for the fourth quarter of 2021, representing an increase of 199.3% from the same period of 2020, and an increase of 49.9% from the third quarter of 2021.
- Gross marginwas 12.0% for the fourth quarter of 2021, compared with 7.4% for the same period of 2020 and 14.4% for the third quarter of 2021.
- Vehicle margin,which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.9% for the fourth quarter of 2021, compared with 6.8% for the same period of 2020 and 13.6% for the third quarter of 2021.
- Net losswas RMB 1,287.2 million (US$202.0 million) for the fourth quarter of 2021, compared with RMB787.4 million for the same period of 2020 and RMB1,594.8 million for the third quarter of 2021. Excluding share-based compensation expenses, non-GAAP net loss was RMB1,198.3 million (US$188.0 million) in the fourth quarter of 2021, compared with RMB712.6 million for the same period of 2020 and RMB1,492.1 million for the third quarter of 2021.
- Net loss attributable to ordinary shareholders of XPengwas RMB1,287.2 million (US$ 202.0 million) for the fourth quarter of 2021, compared with RMB787.4 million for the same period of 2020 and RMB1,594.8 million in the third quarter of 2021. Excluding share-based compensation expenses, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,198.3 million (US$188.0 million) for the fourth quarter of 2021, compared with RMB712.6 million for the same period of 2020 and RMB1,492.1 million for the third quarter of 2021.
- Basic and diluted net loss per American depositary share (ADS)were both RMB1.51 (US$0.24) for the fourth quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.41 (US$0.22) for the fourth 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 depositswere RMB43,543.9 million (US$6,833.0 million) as of December 31, 2021, compared with RMB35,342.1 million as of December 31, 2020 and RMB45,357.9 million as of September 30, 2021.
Key Financial Results
Business Outlook
For the first quarter of 2022, the Company expects:
- Deliveries of vehiclesto be between 33,500 and 34,000, representing a year-over-year increase of approximately 151.1% to 154.9%.
- Total revenuesto be between RMB7.2 billion and RMB7.3 billion, representing a year-over-year increase of approximately 144.0% to 147.4%.
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