On November 30, XPeng released Q3 financial report.
Steady growth through fluctuations and effective improvement in operating efficiency
- Cash reserve* (strongly supporting long-term strategy): 40.12 billion yuan
- Total revenue (up 19.3% year-on-year): 6.82 billion yuan
- Total deliveries (up 15% YoY): 29,570 units
* Includes cash and cash equivalents, restricted cash, short-term investments and time deposits
- Gross profit margin (up 2.6 percentage points quarter-on-quarter): 13.5%
- Net loss (narrowed QoQ): -12.0%
- SG&A expenses (decrease QoQ): – 2.3%
- Comprehensive income brought about by exchange rate changes: +1.14 billion yuan
- 407 sales stores covering 143 cities across the country
- 1,011 XPeng self-operated charging stations, covering all prefecture-level cities across the country
Adhere to long-term principle of intelligentization, and continuously implement innovative achievements
Q3 R&D investment reached 1.50 billion yuan, and historical cumulative R&D investment exceeded 12.5 billion yuan*
*2018 to the end of the third quarter of 2022
On September 17, the City NGP debuted in Guangzhou. The first high-end intelligent assisted driving mass production landed in urban scenes.
On September 21, XPeng G9 was officially launched, and at the end of October, large-scale delivery in hundreds of cities across the country began.
In November, XPeng G9 obtained the road test qualification of Guangzhou Autonomous Driving and became the first mass-produced car on sale without modification to obtain the qualification of China’s self-driving road test.
Projection for Q4 2022
- Delivery: between 20,000 to 21,000 units
- Revenue: between 4.8 billion to 5.1 billion yuan
“Our management team recently conducted an in-depth review of our growth strategy, products and operations. We have implemented organizational restructuring and some strategic adjustments. I am confident that with our industry-leading intelligent and electrified technologies, we can create highly competitive products and attract a larger customer base. ” Mr. He Xiaopeng, Chairman and CEO of XPeng, said, “I would also like to thank all shareholders for their valuable suggestions.”
“We will implement prudent cost control and improve operational efficiency.”
Dr. Gu Hongdi, Honorary Vice Chairman and President of XPeng, said, “Through the launch of our various new products and new technologies, we are confident that we will achieve a significant increase in sales volume and average selling price.”