Xpeng's 2023 Q4 Financial Report: A Breakdown

Xpeng Releases Q4 2023 Financial Report

I. Q4 2023 Financial Data

  • Total revenue was CNY 85.3 billion, an increase of 66% YoY and 69% QoQ.

  • Revenue from the automobile business was CNY 78.4 billion, an increase of 68% YoY and 77% QoQ.

  • Total gross profit was CNY 0 billion, a decrease of 100% YoY and NaN% QoQ.

  • The overall gross profit margin was 0%, compared to 9% in the same period last year and 0% in the previous quarter.

  • The per-vehicle gross profit margin was 0%, a decrease from the previous quarter (0%).

  • Cost of sales was CNY 87.6 billion, an increase of 86% YoY and 67% QoQ.

  • Net loss was CNY 38.9 billion, compared with a net loss of CNY 28 billion in the previous quarter.

  • The company’s cash reserves (cash and cash equivalents, restricted cash & time deposits and short-term investment balance) were CNY 364.8 billion, up from CNY 337.4 billion in the previous quarter.

  • Xpeng’s R&D expenses in the fourth quarter were CNY 1.31 billion, a decrease of 4% QoQ, accounting for 15% of the total quarterly revenue.

  • Sales and administrative expenses amounted to CNY 1.69 billion, a decrease of 4% YoY and an increase of 10% QoQ.

II. Business Expectations for Q1 2024

  • The company expects vehicle deliveries to be between 59,500 and 63,500 units, an increase of approximately 226% to 248% compared to Q1 2023.

  • Total revenue is expected to be between CNY 12.7 billion and CNY 13.6 billion, an increase of approximately 215% to 237% compared to Q1 2023.

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.