XPeng Releases 2022Q1 Financial Report
I. 2022Q1 Financial Data
- Total revenue of RMB 7.455 billion, representing a YoY increase of 153% and a QoQ decrease of 13%;
- Automotive sales revenue of RMB 6.999 billion, representing a YoY increase of 149% and a QoQ decrease of 15%;
- Total gross profit of RMB 911 million, representing a YoY increase of 176% and a QoQ decrease of 11%;
- Overall gross margin was 12.2%, up from 11.2% in the same period of last year and down from 12% in the previous quarter;
- Gross margin per vehicle was 10.4%, down from 10.9% in the previous quarter;
- Sales cost of RMB 6.544 billion, representing a YoY increase of 150% and a QoQ decrease of 13%;
- Net loss of RMB 1.701 billion, up from a net loss of RMB 1.287 billion in the previous quarter;
- Company’s cash reserves (cash and cash equivalents, restricted cash, and short-term investment balance) of RMB 41.714 billion, down from RMB 43.544 billion in the previous quarter;
- XPeng’s R&D expenses in the first quarter was RMB 1.221 billion, down 16% QoQ, accounting for 16% of the quarter’s total revenue;
- Sales and administrative expenses were RMB 1.642 billion, representing a YoY increase of 128% and a QoQ decrease of 19%.
II. 2022Q2 Business Expectations
- Expected vehicle deliveries of 31,000 to 34,000, an increase of approximately 78% to 95% compared to Q2 2021;
- Expected revenue to be between RMB 6.8 billion to RMB 7.5 billion, representing an increase of approximately 81% to 99% compared to Q2 2021.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.