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GUANGZHOU, China, Nov. 15, 2023 (GLOBE NEWSWIRE) -- 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 ended September 30, 2023.
Operational and Financial Highlights for the Three Months Ended September 30, 2023
| 2023Q3 | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | |
| Total deliveries | 40,008 | 23,205 | 18,230 | 22,204 | 29,570 | 34,422 |
Key Financial Results(in RMB billions, except for percentage)
| For the Three Months Ended | % Changei | |||||||||
| September 30, | June 30, | September 30, | ||||||||
| 2023 | 2023 | 2022 | YoY | QoQ | ||||||
| Vehicle sales | 7.84 | 4.42 | 6.24 | 25.7% | 77.3% | |||||
| Vehicle margin | -6.1% | -8.6% | 11.6% | -17.7pts | 2.5pts | |||||
| Total revenues | 8.53 | 5.06 | 6.82 | 25.0% | 68.5% | |||||
| Gross (loss) profit | (0.23) | (0.20) | 0.92 | -124.7% | 15.5% | |||||
| Gross margin | -2.7% | -3.9% | 13.5% | -16.2pts | 1.2pts | |||||
| Net loss | 3.89 | 2.80 | 2.38 | 63.6% | 38.6% | |||||
| Non-GAAP net loss | 2.79 | 2.67 | 2.22 | 25.5% | 4.5% | |||||
| Net loss attributable to ordinary shareholders | 3.89 | 2.80 | 2.38 | 63.6% | 38.6% | |||||
| Non-GAAP net loss attributable to ordinary shareholders | 2.79 | 2.67 | 2.22 | 25.5% | 4.5% | |||||
| Comprehensive loss attributable to ordinary shareholders | 4.01 | 1.93 | 0.69 | 481.1% | 107.9% | |||||
| i. Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented | ||||||||||
Management Commentary
“In 2023, XPENG was the first mover in reaching the inflection point for both the development and mass adoption of ADAS technologies. I believe that over the next five years, ADAS technologies will experience increasing and massive acceptance by consumers. As we lead the nationwide rollout of XNGP, XPENG will become the go-to smart EV brand for customers,” said Mr. He Xiaopeng, Chairman and CEO of XPENG. “In the third quarter of 2023, our business stepped into the initial phase of a virtuous cycle. I am confident that the transformational adjustments we began to implement early this year will yield more positive results in 2024 and beyond, accelerating our virtuous cycle and rapid growth by the fourth quarter of 2024.”
“XPENG vehicle deliveries have grown for nine consecutive months and our free cash flow has substantially improved,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of XPENG. “Our new products and technology-driven cost controls are expected to result in notable improvements to our gross margin. Leveraging these strengths, we expect even stronger free cash flow in the fourth quarter, marking the starting point of our journey towards long-term scalable profitability.”
Recent Developments
DeliveriesinOctober2023
XPENG2023TechDay
On October 24, 2023, XPENG hosted its fifth annual 1024 Tech Day in Guangzhou. The Company unveiled its cutting-edge technology roadmap for autonomous driving and mobility ecosystem, including its Smart EVs and robotics.
ESGPerformance
On October 11, 2023, XPENG announced that Morgan Stanley Capital International (“MSCI”) has upgraded its MSCI ESG Rating for the Company from “AA” to “AAA”, which is MSCI’s highest rating and is given to companies that are leading their industries in managing ESG risks and opportunities.
LaunchofXPENGG92024Edition
On September 19, 2023, XPENG introduced XPENG G9 2024 Edition and commenced deliveries during the same month.
Unaudited Financial Results for the Three Months Ended September 30, 2023
Totalrevenues were RMB8.53 billion (US$1.17 billion) for the third quarter of 2023, representing an increase of 25.0% from RMB6.82 billion for the same period of 2022 and an increase of 68.5% from RMB5.06 billion for the second quarter of 2023.
Revenues from vehicle sales were RMB7.84 billion (US$1.08 billion) for the third quarter of 2023, representing an increase of 25.7% from the same period of 2022, and an increase of 77.3% from the second quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly attributable to the accelerating sales growth of the G6 in the third quarter of 2023.
Revenuesfromservicesandothers were RMB0.69 billion (US$0.09 billion) for the third quarter of 2023, representing an increase of 17.7% from RMB0.58 billion for the same period of 2022 and an increase of 7.4% from RMB0.64 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly attributable to the increases of maintenance, supercharging and auto financing services sales, which were in line with higher accumulated vehicle sales.
Costofsales was RMB8.76 billion (US$1.20 billion) for the third quarter of 2023, representing an increase of 48.4% from RMB5.90 billion for the same period of 2022 and an increase of 66.5% from RMB5.26 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly in line with vehicle deliveries as described above. In addition, the year-over-year increase was attributable to inventory write-downs amounting to RMB0.23 billion related to the model G3i as management lowered its forecasted sales due to stronger-than-expected market demands for newly launched vehicle models.
Gross margin was negative 2.7% for the third quarter of 2023, compared with 13.5% for the same period of 2022 and negative 3.9% for the second quarter of 2023.
Vehiclemargin was negative 6.1% for the third quarter of 2023, compared with 11.6% for the same period of 2022 and negative 8.6% for the second quarter of 2023. The year-over-year decrease was explained by (i) the inventory write-downs related to the G3i, with a negative impact of 2.9 percentage points on vehicle margin for the third quarter of 2023, and (ii) increased sales promotions, and the expiry of new energy vehicle subsidies. The quarter-over-quarter increase was primarily attributable to the improvement in product mix of models and the cost reduction.
Research and development expenses were RMB1.31 billion (US$0.18 billion) for the third quarter of 2023, representing a decrease of 12.9% from RMB1.50 billion for the same period of 2022 and a decrease of 4.5% from RMB1.37 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter decreases were mainly in line with timing and progress of new vehicle programs.
Selling,generalandadministrativeexpenses were RMB1.69 billion (US$0.23 billion) for the third quarter of 2023, representing an increase of 4.0% from RMB1.63 billion for the same period of 2022 and an increase of 9.6% from RMB1.54 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter increases were primarily attributable to the higher commission paid to the franchised stores.
Lossfromoperations was RMB3.16 billion (US$0.43 billion) for the third quarter of 2023, compared with RMB2.18 billion for the same period of 2022 and RMB3.09 billion for the second quarter of 2023.
Non-GAAP loss from operations, which excludes share-based compensation expenses, was RMB3.04 billion (US$0.42 billion) for the third quarter of 2023, compared with RMB2.02 billion for the same period of 2022 and RMB2.96 billion for the second quarter of 2023.
Net loss was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023.
Fairvaluelossonderivativeliability was RMB0.97 billion (US$0.13 billion) for the third quarter 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 Group.
Non-GAAP net loss, which excludes share-based compensation expenses and fair value loss on derivative liability, was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.
NetlossattributabletoordinaryshareholdersofXPENG was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023.
Non-GAAP net loss attributable to ordinary shareholders of XPENG, which excludes share-based compensation expenses and fair value loss on derivative liability, was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.
Basic and diluted net loss per ADS were both RMB4.49 (US$0.62) for the third quarter of 2023, compared with RMB2.77 for the third quarter of 2022 and RMB3.25 for the second quarter of 2023.
Non-GAAPbasicanddilutednetlossperADS were both RMB3.23 (US$0.44) for the third quarter of 2023, compared with RMB2.59 for the third quarter of 2022 and RMB3.10 for the second quarter of 2023.
Balance Sheets
As of September 30, 2023, the Company had cash and cash equivalents, restricted cash, short-term investments and time deposits of RMB36.48 billion (US$5.00 billion), compared with RMB38.25 billion as of December 31, 2022 and RMB33.74 billion as of June 30, 2023.
Business Outlook
For the fourth quarter of 2023, the Company expects:
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 AMU.S. Eastern Time on November 15, 2023 (9:00 PM Beijing/Hong Kong Time on November 15, 2023).
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 Third Quarter 2023 Earnings Conference Call |
| Pre-registration link: | https://s1.c-conf.com/diamondpass/10034271-dqxo0v.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 November 22, 2023, 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: | 10034271 |
AboutXPENG
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://heyXPENG.com.
UseofNon-GAAPFinancialMeasures
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 and fair value loss on derivative liability, 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.
ExchangeRateInformation
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 RMB7.2960 to US$1.00, the exchange rate on September 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.
SafeHarborStatement
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.
ForInvestorEnquiriesIR Department XPeng 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) | ||||||||
| December 31, | September 30, | September 30, | ||||||
| 2022 | 2023 | 2023 | ||||||
| RMB | RMB | US$ | ||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | 14,607,774 | 12,197,669 | 1,671,830 | |||||
| Restricted cash | 106,272 | 1,139,599 | 156,195 | |||||
| Short-term deposits | 14,921,688 | 12,152,077 | 1,665,581 | |||||
| Restricted short-term deposits | - | 1,010,000 | 138,432 | |||||
| Short-term investments | 1,262,129 | 181,007 | 24,809 | |||||
| Long-term deposits, current portion | 427,466 | 4,487,216 | 615,024 | |||||
| Accounts and notes receivable, net | 3,872,846 | 3,244,400 | 444,682 | |||||
| Installment payment receivables, net, current portion | 1,294,665 | 1,697,592 | 232,674 | |||||
| Inventory | 4,521,373 | 5,287,550 | 724,719 | |||||
| Amounts due from related parties | 47,124 | 27,867 | 3,819 | |||||
| Prepayments and other current assets | 2,466,084 | 2,232,540 | 305,996 | |||||
| Total current assets | 43,527,421 | 43,657,517 | 5,983,761 | |||||
| Non-current assets | ||||||||
| Long-term deposits | 6,926,450 | 4,563,512 | 625,481 | |||||
| Restricted long-term deposits | - | 750,000 | 102,796 | |||||
| Property, plant and equipment, net | 10,606,745 | 10,911,466 | 1,495,541 | |||||
| Right-of-use assets, net | 1,954,618 | 1,560,903 | 213,940 | |||||
| Intangible assets, net | 1,042,972 | 1,040,171 | 142,567 | |||||
| Land use rights, net | 2,747,854 | 2,802,005 | 384,047 | |||||
| Installment payment receivables, net | 2,188,643 | 2,616,312 | 358,595 | |||||
| Long-term investments | 2,295,032 | 2,492,948 | 341,687 | |||||
| Other non-current assets | 201,271 | 147,690 | 20,243 | |||||
| Total non-current assets | 27,963,585 | 26,885,007 | 3,684,897 | |||||
| Total assets | 71,491,006 | 70,542,524 | 9,668,658 | |||||
| XPENGINC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data) | ||||||||
| December 31, | September 30, | September 30, | ||||||
| 2022 | 2023 | 2023 | ||||||
| RMB | RMB | US$ | ||||||
| LIABILITIES | ||||||||
| Current liabilities | ||||||||
| Short-term borrowings | 2,419,210 | 4,226,815 | 579,333 | |||||
| Accounts and notes payable | 14,222,856 | 16,566,450 | 2,270,621 | |||||
| Amount due to related parties | 91,111 | 52,094 | 7,140 | |||||
| Operating lease liabilities, current portion | 490,811 | 400,032 | 54,829 | |||||
| Finance lease liabilities, current portion | 128,279 | 74,890 | 10,265 | |||||
| Deferred revenue, current portion | 389,243 | 536,649 | 73,554 | |||||
| Long-term borrowings, current portion | 761,859 | 776,793 | 106,468 | |||||
| Accruals and other liabilities | 5,583,829 | 6,671,159 | 914,358 | |||||
| Income taxes payable | 27,655 | 13,339 | 1,828 | |||||
| Derivative liability | - | 972,753 | 133,327 | |||||
| Total current liabilities | 24,114,853 | 30,290,974 | 4,151,723 | |||||
| Non-current liabilities | ||||||||
| Long-term borrowings | 4,613,057 | 6,421,177 | 880,096 | |||||
| Operating lease liabilities | 1,854,576 | 1,554,029 | 212,997 | |||||
| Finance lease liabilities | 797,743 | 780,584 | 106,988 | |||||
| Deferred revenue | 694,006 | 678,972 | 93,061 | |||||
| Other non-current liabilities | 2,506,106 | 2,022,850 | 277,255 | |||||
| Total non-current liabilities | 10,465,488 | 11,457,612 | 1,570,397 | |||||
| Total liabilities | 34,580,341 | 41,748,586 | 5,722,120 | |||||
| SHAREHOLDERS’ EQUITY | ||||||||
| Class A Ordinary shares | 92 | 92 | 13 | |||||
| Class B Ordinary shares | 21 | 21 | 3 | |||||
| Additional paid-in capital | 60,691,019 | 61,074,518 | 8,370,959 | |||||
| Statutory and other reserves | 6,425 | 25,127 | 3,444 | |||||
| Accumulated deficit | (25,330,916) | (34,359,076) | (4,709,303) | |||||
| Accumulated other comprehensive income | 1,544,024 | 2,053,256 | 281,422 | |||||
| Total shareholders' equity | 36,910,665 | 28,793,938 | 3,946,538 | |||||
| Total liabilities and shareholders’ equity | 71,491,006 | 70,542,524 | 9,668,658 | |||||
| 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 | |||||||||||
| September 30, | June 30, | September 30, | September 30, | ||||||||
| 2022 | 2023 | 2023 | 2023 | ||||||||
| RMB | RMB | RMB | US$ | ||||||||
| Revenues | |||||||||||
| Vehicle sales | 6,241,143 | 4,424,537 | 7,844,239 | 1,075,142 | |||||||
| Services and others | 582,344 | 638,159 | 685,282 | 93,926 | |||||||
| Total revenues | 6,823,487 | 5,062,696 | 8,529,521 | 1,169,068 | |||||||
| Cost of sales | |||||||||||
| Vehicle sales | (5,514,695) | (4,804,535) | (8,319,890) | (1,140,336) | |||||||
| Services and others | (385,554) | (455,552) | (437,589) | (59,977) | |||||||
| Total cost of sales | (5,900,249) | (5,260,087) | (8,757,479) | (1,200,313) | |||||||
| Gross profit (loss) | 923,238 | (197,391) | (227,958) | (31,245) | |||||||
| Operating expenses | |||||||||||
| Research and development expenses | (1,498,550) | (1,367,107) | (1,305,868) | (178,984) | |||||||
| Selling, general and administrative expenses | (1,626,343) | (1,543,625) | (1,692,194) | (231,934) | |||||||
| Total operating expenses | (3,124,893) | (2,910,732) | (2,998,062) | (410,918) | |||||||
| Other income, net | 24,824 | 17,940 | 65,192 | 8,935 | |||||||
| Loss from operations | (2,176,831) | (3,090,183) | (3,160,828) | (433,228) | |||||||
| Interest income | 289,954 | 303,637 | 314,004 | 43,038 | |||||||
| Interest expense | (38,968) | (67,007) | (65,767) | (9,014) | |||||||
| Fair value loss on derivative assets or derivative liabilities | (8,003) | - | (971,832) | (133,201) | |||||||
| Fair value gain (loss) on long-term investments | 129,240 | (38,704) | (8,782) | (1,204) | |||||||
| Exchange (loss) gain from foreign currency transactions | (550,775) | 42,663 | 5,972 | 819 | |||||||
| Other non-operating (loss) income, net | (2,600) | 4,286 | 4,282 | 587 | |||||||
| Loss before income tax expenses and share of results of equity method investees | (2,357,983) | (2,845,308) | (3,882,951) | (532,203) | |||||||
| Income tax expenses | (21,017) | (8,217) | (682) | (93) | |||||||
| Share of results of equity method investees | 2,852 | 48,873 | (2,917) | (400) | |||||||
| Net loss | (2,376,148) | (2,804,652) | (3,886,550) | (532,696) | |||||||
| Net loss attributable to ordinary shareholders of XPeng Inc. | (2,376,148) | (2,804,652) | (3,886,550) | (532,696) | |||||||
| XPENGINC.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 | |||||||||||
| September 30, | June 30, | September 30, | September 30, | ||||||||
| 2022 | 2023 | 2023 | 2023 | ||||||||
| RMB | RMB | RMB | US$ | ||||||||
| Net loss | (2,376,148) | (2,804,652) | (3,886,550) | (532,696) | |||||||
| Other comprehensive income (loss) | |||||||||||
| Foreign currency translation adjustment, net of tax | 1,686,156 | 876,266 | (123,081) | (16,870) | |||||||
| Total comprehensive loss attributable to XPeng Inc. | (689,992) | (1,928,386) | (4,009,631) | (549,566) | |||||||
| Comprehensive loss attributable to ordinary shareholders of XPeng Inc. | (689,992) | (1,928,386) | (4,009,631) | (549,566) | |||||||
| Weighted average number of ordinary shares used in computing net loss per ordinary share | |||||||||||
| Basic and diluted | 1,718,162,864 | 1,723,369,664 | 1,729,980,347 | 1,729,980,347 | |||||||
| Net loss per ordinary share attributable to ordinary shareholders | |||||||||||
| Basic and diluted | (1.38) | (1.63) | (2.25) | (0.31) | |||||||
| Weighted average number of ADS used in computing net loss per share | |||||||||||
| Basic and diluted | 859,081,432 | 861,684,832 | 864,990,174 | 864,990,174 | |||||||
| Net loss per ADS attributable to ordinary shareholders | |||||||||||
| Basic and diluted | (2.77) | (3.25) | (4.49) | (0.62) | |||||||
| XPENGINC.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 | |||||||||||
| September 30, | June 30, | September 30, | September 30, | ||||||||
| 2022 | 2023 | 2023 | 2023 | ||||||||
| RMB | RMB | RMB | US$ | ||||||||
| Loss from operations | (2,176,831) | (3,090,183) | (3,160,828) | (433,228) | |||||||
| Share-based compensation expenses | 152,695 | 134,570 | 124,291 | 17,035 | |||||||
| Non-GAAP loss from operations | (2,024,136) | (2,955,613) | (3,036,537) | (416,193) | |||||||
| Net loss | (2,376,148) | (2,804,652) | (3,886,550) | (532,696) | |||||||
| Fair value loss on derivative liability | - | - | 971,832 | 133,201 | |||||||
| Share-based compensation expenses | 152,695 | 134,570 | 124,291 | 17,035 | |||||||
| Non-GAAP net loss | (2,223,453) | (2,670,082) | (2,790,427) | (382,460) | |||||||
| Net loss attributable to ordinary shareholders | (2,376,148) | (2,804,652) | (3,886,550) | (532,696) | |||||||
| Fair value loss on derivative liability | - | - | 971,832 | 133,201 | |||||||
| Share-based compensation expenses | 152,695 | 134,570 | 124,291 | 17,035 | |||||||
| Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc. | (2,223,453) | (2,670,082) | (2,790,427) | (382,460) | |||||||
| Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share | |||||||||||
| Basic and diluted | 1,718,162,864 | 1,723,369,664 | 1,729,980,347 | 1,729,980,347 | |||||||
| Non-GAAP net loss per ordinary share | |||||||||||
| Basic and diluted | (1.29) | (1.55) | (1.61) | (0.22) | |||||||
| Weighted average number of ADS used in calculating Non-GAAP net loss per share | |||||||||||
| Basic and diluted | 859,081,432 | 861,684,832 | 864,990,174 | 864,990,174 | |||||||
| Non-GAAP net loss per ADS | |||||||||||
| Basic and diluted | (2.59) | (3.10) | (3.23) | (0.44) | |||||||
