• 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
  • Quarterly total revenues were RMB13.05 billion, a 53.0% increase quarter-over-quarter
  • Quarterly gross margin was 6.2%, an increase of 8.9 percentage points quarter-over-quarter
  • Full year vehicle deliveries reached 141,601, a 17.3% increase year-over-year
  • Full year revenues reached RMB30.68 billion
  • Full year gross margin was 1.5%, a decrease of 10.0 percentage points year-over-year

(SeaPRwire) –   GUANGZHOU, China, March 19, 2024 — XPENG Inc. (“XPENG” or ang “Kumpanya,” NYSE: XPEV at HKEX: 9868), isang nangungunang Tsino na kumpanya ng smart electric vehicle (“Smart EV”) ay nag-aanunsyo ng hindi pa na-audit na resulta ng pananalapi para sa tatlong buwan at taong-kalendaryo na nagtapos noong Disyembre 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 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)

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For the Three Months Ended % Changei
2023Q4 2023Q3 2023Q2 2023Q1 2022Q4 2022Q3 Q/Q Y/Y Q1-Q4/Q1-Q4
Total revenues 13.05 8.47 5.34 3.82 5.14 4.01 53.9% 153.9% N/A
Gross profit 0.81 -0.23 0.34 0.13 0.45 0.35 N/A 80.0% N/A
Gross margin 6.2% -2.7% 6.4% 3.4% 8.7% 8.7% N/A 8.9% N/A
Net loss -1.35 -3.89 -2.32 -1.59 -2.36 -1.56 65.3% 42.8%