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XPeng Q1 Revenues Reach RMB7,454.9 Million, A 152.6% Increase YoY

Tiger Newspress2022-05-23

  • Quarterly total revenues reached RMB7,454.9 million, a 152.6% increase year-over-year
  • Quarterly vehicle deliveries reached 34,561, a 159% increase year-over-year
  • Quarterly gross margin reached 12.2%, an increase of 100 basis points year-over-year

XPeng Inc. (NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle company, today announced its unaudited financial results for the three months ended March 31, 2022.

XPeng shares fell more than 4% after reporting its quarterly results.

Operational and Financial Highlights for the Three Months Ended March 31, 2022

  • Total deliveries of vehicles were 34,561 in the first quarter of 2022, representing an increase of 159% from 13,340 in the corresponding period of 2021.
  • Deliveries of the P7 smart sports sedan were 19,427 in the first quarter of 2022, representing an increase of 144% from 7,974 in the corresponding period of 2021. Monthly delivery of the P7 smart sports sedan exceeded 9,000 in March 2022 for the first time.
  • Deliveries of the P5 smart family sedan sustained ramp-up momentum following its mass-delivery launch in October 2021 and reached 10,486 in the first quarter of 2022, among which over 50% can support XPILOT 3.0 or XPILOT 3.5.
  • XPeng’s physical sales network continued expansion with a total of 366 stores, covering 138 cities as of March 31, 2022.
  • XPeng self-operated charging station network further expanded to 933 stations, including 757 XPeng self-operated supercharging stations and 176 destination charging stations as of March 31, 2022.
  • Total revenues were RMB7,454.9 million (US$1,176.0 million) for the first quarter of 2022, representing an increase of 152.6% from the same period of 2021, and a decrease of 12.9% from the fourth quarter of 2021.
  • Revenues from vehicle sales were RMB6,998.8 million (US$1,104.0 million) for the first quarter of 2022, representing an increase of 149.0% from the same period of 2021, and a decrease of 14.5% from the fourth quarter of 2021.
  • Gross margin was 12.2% for the first quarter of 2022, compared with 11.2% for the same period of 2021 and 12.0% for the fourth quarter of 2021.
  • Vehicle margin,which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.4% for the first quarter of 2022, compared with 10.1% for the same period of 2021 and 10.9% for the fourth quarter of 2021.
  • Net loss was RMB1,700.8 million (US$268.3 million) for the first quarter of 2022, compared with RMB786.6 million for the same period of 2021 and RMB1,287.2 million for the fourth quarter of 2021. Excluding share-based compensation expenses,non-GAAP net losswas RMB1,528.2 million (US$241.1 million) in the first quarter of 2022, compared with RMB696.3 million for the same period of 2021 and RMB1,198.3 million for the fourth quarter of 2021.
  • Net loss attributable to ordinary shareholders of XPeng was RMB1,700.8 million (US$268.3 million) for the first quarter of 2022, compared with RMB786.6 million for the same period of 2021 and RMB1,287.2 million in the fourth quarter of 2021. Excluding share-based compensation expenses,non-GAAP net loss attributable to ordinary shareholders of XPengwas RMB1,528.2 million (US$241.1 million) for the first quarter of 2022, compared with RMB696.3 million for the same period of 2021 and RMB1,198.3 million for the fourth quarter of 2021.
  • Basic and diluted net loss per American depositary share (ADS) were both RMB2.00 (US$0.32) for the first quarter of 2022.Non-GAAP basic and diluted net loss per ADS were both RMB1.80 (US$0.28) for the first quarter of 2022. 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 RMB41,714.0 million (US$6,580.2 million) as of March 31, 2022, compared with RMB43,543.9 million as of December 31, 2021.

Business Outlook

For the second quarter of 2022, the Company expects:

  • Deliveries of vehiclesto be between 31,000 and 34,000, representing a year-over-year increase of approximately 78.2% to 95.4%.
  • Total revenuesto be between RMB6.8 billion and RMB7.5 billion, representing a year-over-year increase of approximately 80.8% to 99.4%.

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment14

  • CHECK1894
    ·2022-05-24
    加油
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  • ahVenroar
    ·2022-05-23
    ,[Cool]  up up up
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  • AndrewL
    ·2022-05-23
    Nice
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  • BhaskarB
    ·2022-05-23
    Like
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  • BhaskarB
    ·2022-05-23
    Like
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  • TeikLeong
    ·2022-05-23
    Like
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  • TeikLeong
    ·2022-05-23
    Like
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  • Nanamoney
    ·2022-05-23
    Funny !!! All increase and yet share price down
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  • Lulup
    ·2022-05-23
    ok
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  • bryan08
    ·2022-05-23
    All the way up
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  • shoude
    ·2022-05-23
    Like and comment
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  • RyanTT
    ·2022-05-23
    Very good 
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  • RyanTT
    ·2022-05-23
    Good
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  • blessed_1
    ·2022-05-23
    Ok
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