XPeng Releases 2023Q1 Financial Report
I. 2023Q1 Financial Data
-
Total revenue of RMB 40.3 billion, a year-on-year decrease of 46%, and a quarter-on-quarter decrease of 22%;
-
Automotive business revenue of RMB 35.1 billion, a year-on-year decrease of 50%, and a quarter-on-quarter decrease of 25%;
-
Gross profit of RMB 0.67 billion, a year-on-year decrease of 93%, and a quarter-on-quarter decrease of 85%;
-
Overall gross margin was 2%, compared with 12% in the same period last year and 9% in the previous quarter;
-
Gross margin per vehicle was 0%, down from the previous quarter (6%);
-
Sales cost was RMB 39.7 billion, a year-on-year decrease of 39%, and a quarter-on-quarter decrease of 16%;
-
Net loss of RMB 23.4 billion, net loss of RMB 23.6 billion in the previous quarter;
-
Company cash reserve (cash and cash equivalents, restricted cash and balance of time deposits and short-term investments) was RMB 341.2 billion, compared with RMB 382.5 billion in the previous quarter;
-
XPeng’s R&D expenses in the first quarter amounted to RMB 13 billion, a quarter-on-quarter increase of 6%, accounting for 32% of the total quarterly revenue;
-
Sales and management expenses were RMB 13.9 billion, a year-on-year decrease of 15%, and a quarter-on-quarter decrease of 21%.
II. 2023Q2 Business Forecast
-
Expected vehicle deliveries of 21,000 to 22,000 units, representing a growth of approximately -39% to -36% compared to 2022Q2;
-
Expected total revenue between RMB 45 billion and RMB 47 billion, representing a growth of approximately -39% to -37% compared to 2022Q2.
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.