On June 23, Bloomberg reported that XPeng Motors had obtained approval from the Hong Kong Stock Exchange for its listing. Subsequently, the Hong Kong Stock Exchange disclosed XPeng Motors’ information collection after the hearing, of which key points are as follows:
Financial Data
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Total revenue:
2018: CNY 97 million;
2019: CNY 23,212 million;
2020: CNY 58,443 million. -
Deliveries:
2018: 29 vehicles;
2019: 12,728 vehicles;
2020: 27,041 vehicles. -
Gross profit margin:
2018: 24.3%;
2019: 24.0%;
2020: 4.6%.
Product Summary
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G3: XPeng started delivering G3 in December 2018. As of March 31, 2021, it has delivered 30,102 G3 vehicles to customers.
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P7: XPeng started delivering P7 in May 2020. As of March 31, 2021, it has delivered 23,036 P7 vehicles to customers.
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P7 Wing Edition: started delivering in March 2021.
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LFP battery version models: In March 2021, XPeng launched new versions of G3 and P7 equipped with LFP batteries.
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P5: XPeng released P5 in April 2021 and plans to start mass delivery in the fourth quarter of 2021.
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Mid-term facelift G3: XPeng plans to start delivering a mid-term facelift version G3i in the third quarter of 2021.
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New model: XPeng plans to release its fourth smart electric vehicle in 2022, an SUV equipped with advanced autonomous driving systems and an enhanced core vehicle system.
Fourth New ModelPeng Motor plans to launch its fourth smart electric vehicle, an SUV model, in 2022. The new car is based on the same Edward platform as P7, which means the new car’s wheelbase is between 2,800 millimeters and 3,100 millimeters. It will be equipped with advanced autonomous driving systems and lidar and will support XPILOT 4.0. Peng Motor said that the core vehicle system of the new model will be enhanced to provide fast charging capability, a more comprehensive domain control unit, stronger OTA capability, and will be equipped with an intelligent chassis and air suspension system.
Based on the delivery time and price positioning information in the figure, the price of the fourth SUV model will be between the P7 Wing Edition (starting at 366,900 yuan) and the P7 (starting at 229,900 yuan), and is expected to begin delivery in the second half of 2022.
Sales and Service Network
As of March 31, 2021, Peng Motor’s physical sales and service network consists of 178 stores and 61 service centers, covering 70 cities in China. Of these 178 stores, 88 are self-operated stores and 90 are franchised stores; of these 61 service centers, 4 are self-operated service centers and 57 are franchised service centers. Peng Motor said that its service centers are delivery and after-sales service centers, and customers can pick up their cars and receive after-sales service at the service centers.
Charging Solutions
- Home charging. As of March 31, 2021, over 50% of customers have installed Peng Motor’s home charging station.
- Peng Motor brand super charging stations. As of March 31, 2021, Peng Motor has operated 172 Peng Motor brand super charging stations, covering 60 cities in China. Each Peng Motor brand super charging station is equipped with an average of 6 to 7 super charging piles, with a peak power output of 120 kW.
- Third-party charging stations. As of March 31, 2021, Peng Motor’s charging network has been connected to over 200,000 third-party charging stations nationwide.
Research and DevelopmentAs of March 31st, 2021, Xpeng employs 6,132 staff members in China and the United States. As of the same date, 39.8% of the employees are dedicated to research and development, among which 62.1%, 16.3%, and 21.5% of the employees are committed to car design and engineering, autonomous driving, and intelligent operating systems, respectively. In addition to the existing two smart electric vehicle platforms, David and Edward, Xpeng has announced the initiation of a new platform development.
🔗 Source: HKEX
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.