Xpeng Announces Q3 2023 Financial Results
I. Q3 2023 Financial Data
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Total revenue of RMB 50.6 billion, a year-on-year decrease of 26%, and a quarter-on-quarter increase of 26%;
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Automotive business revenue of RMB 44.2 billion, a year-on-year decrease of 29%, and a quarter-on-quarter increase of 26%;
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Total gross profit of RMB 0 billion, a year-on-year decrease of 100%, and a quarter-on-quarter decrease of 100%;
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Overall gross margin was 0%, compared to 14% for the same period last year, and 2% for the previous quarter;
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Gross margin per vehicle is 0%, down from the previous quarter (0%);
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Selling costs were RMB 52.6 billion, a year-on-year decrease of 11%, and a quarter-on-quarter increase of 32%;
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Net loss of RMB 2.8 billion, with a net loss of RMB 2.34 billion in the previous quarter;
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The company’s cash reserves (cash and cash equivalents, restricted cash & deposits and short-term investments) were RMB 33.74 billion, compared to RMB 34.12 billion in the previous quarter;
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Xpeng’s R&D expenses for the third quarter were RMB 1.37 billion, a quarter-on-quarter increase of 5%, accounting for 27% of the total quarterly revenue;
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Selling and administrative expenses were RMB 1.54 billion, a year-on-year decrease of 6%, and a quarter-on-quarter increase of 11%.
II. Q4 2023 Business Outlook
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Vehicle deliveries are expected to be between 39,000 and 41,000 units, approximately 76% to 85% compared to Q4 2022;
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Total revenue is expected to be between RMB 8.5 billion and RMB 9 billion, which is approximately 65% to 75% compared to Q4 2022.
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.