Xpeng Releases Q4 2023 Financial Report
I. Q4 2023 Financial Data
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Total revenue was CNY 85.3 billion, an increase of 66% YoY and 69% QoQ.
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Revenue from the automobile business was CNY 78.4 billion, an increase of 68% YoY and 77% QoQ.
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Total gross profit was CNY 0 billion, a decrease of 100% YoY and NaN% QoQ.
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The overall gross profit margin was 0%, compared to 9% in the same period last year and 0% in the previous quarter.
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The per-vehicle gross profit margin was 0%, a decrease from the previous quarter (0%).
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Cost of sales was CNY 87.6 billion, an increase of 86% YoY and 67% QoQ.
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Net loss was CNY 38.9 billion, compared with a net loss of CNY 28 billion in the previous quarter.
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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.
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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.
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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
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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.
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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.