XPeng Experiences Fourth Quarter and Fiscal 12 months 2020 Unaudited Monetary Outcomes

GUANGZHOU, China–(BUSINESS WIRE)–XPeng Inc. (“XPeng” or the “Firm”, NYSE: XPEV), a number one Chinese language sensible electrical car (“Good EV”) firm, at present introduced its unaudited monetary outcomes for the fourth quarter and financial yr ended December 31, 2020.

Fourth Quarter 2020 Operational and Monetary Highlights

  • Deliveries of autos reached 12,964 within the fourth quarter of 2020, representing a rise of 302.9% from 3,218 within the corresponding interval of 2019 and a rise of 51.1% from 8,578 within the third quarter of 2020.
  • Deliveries of the P71 reached 8,527 within the fourth quarter of 2020, representing a rise of 37.3% from 6,210 within the third quarter of 2020.
  • Among the many complete P7s delivered for the quarter, 95% can assist XPILOT 2.5 or XPILOT 3.0.
  • As of December 31, 2020, XPeng’s bodily gross sales and repair community consisted of a complete of 160 shops and 54 service facilities, overlaying 69 cities.
  • As of December 31, 2020, Xpeng-branded tremendous charging stations expanded to 159, overlaying 54 cities.
  • Complete revenues have been RMB2,851.4 million (US$437.0 million) for the fourth quarter of 2020, representing a rise of 345.5% from RMB640.0 million for a similar interval of 2019 and a rise of 43.3% from RMB1,990.1 million for the third quarter of 2020.
  • Revenues from car gross sales have been RMB2,735.4 million (US$419.2 million) for the fourth quarter of 2020, representing a rise of 375.7% from RMB575.0 million for a similar interval of 2019, and a rise of 44.1% from RMB1,898.0 million for the third quarter of 2020.
  • Gross margin was 7.4% for the fourth quarter of 2020, in contrast with adverse 6.6% for a similar interval of 2019 and 4.6% for the third quarter of 2020.
  • Automobile margin, which is gross revenue of auto gross sales as a share of revenues from car gross sales, was 6.8% for the fourth quarter of 2020, in comparison with adverse 8.5% for a similar interval of 2019 and three.2% for the third quarter of 2020.
  • Web loss was RMB787.4 million (US$120.7 million) for the fourth quarter of 2020, in contrast with RMB997.1 million for a similar interval of 2019 and RMB1,148.8 million for the third quarter of 2020. Excluding share-based compensation bills and truthful worth change on by-product liabilities associated to the redemption proper of most popular shares, non-GAAP internet loss was RMB712.6 million (US$109.2 million) within the fourth quarter of 2020, in contrast with RMB1,097.1 million for a similar interval of 2019 and RMB864.9 million for the third quarter of 2020.
  • Web loss attributable to odd shareholders of XPeng Inc. was RMB787.4 million (US$120.7 million) for the fourth quarter of 2020, in contrast with RMB1,354.6 million for a similar interval of 2019 and RMB2,025.8 million within the third quarter of 2020. Excluding share-based compensation bills, truthful worth change on by-product liabilities associated to the redemption proper of most popular shares and accretion on most popular shares to redemption worth, non-GAAP internet loss attributable to odd shareholders of XPeng Inc. was RMB712.6 million (US$109.2 million) for the fourth quarter of 2020, in contrast with RMB1,097.1 million for a similar interval of 2019 and RMB864.9 million for the third quarter of 2020.
  • Primary and diluted internet loss per American depositary share (ADS) have been each RMB1.05 (US$0.16) for the fourth quarter of 2020. Non-GAAP primary and diluted internet loss per ADS have been each RMB0.95 (US$0.15) for the fourth quarter of 2020. Every ADS represents two Class A odd shares.
  • Money and money equivalents, restricted money, short-term deposits and short-term investments have been RMB35,342.1 million (US$5,416.4 million) as of December 31, 2020.

Fiscal 12 months 2020 Operational and Monetary Highlights

  • Deliveries of autos reached 27,041 in fiscal yr 2020, representing a rise of 112.5% from 12,728 for the prior yr.
  • Deliveries of the P71 reached 15,062 in fiscal yr 2020.
  • Complete revenues have been RMB5,844.3 million (US$895.7 million) for fiscal yr 2020, representing a rise of 151.8% from RMB2,321.2 million for the prior yr.
  • Revenues from car gross sales have been RMB5,546.8 million (US$850.1 million) for fiscal yr 2020, representing a rise of 155.5% from RMB2,171.2 million for the prior yr.
  • Gross margin was 4.6% for fiscal yr 2020, in contrast with adverse 24.0% for the prior yr.
  • Automobile margin, which is gross revenue of auto gross sales as a share of revenues from car gross sales, was 3.5% for fiscal yr 2020, in comparison with adverse 25.9% for the prior yr.
  • Web loss was RMB2,732.0 million (US$418.7 million) for fiscal yr 2020, in contrast with RMB3,691.7 million for the prior yr. Excluding share-based compensation bills and truthful worth change on by-product liabilities associated to the redemption proper of most popular shares, non-GAAP internet loss was RMB2,991.8 million (US$458.5 million) for fiscal yr 2020, in contrast with RMB3,718.8 million for the prior yr.
  • Web loss attributable to odd shareholders of XPeng Inc. was RMB4,889.7 million (US$749.4 million) for fiscal yr 2020, in contrast with RMB4,642.8 million for the prior yr. Excluding share-based compensation bills, truthful worth change on by-product liabilities associated to the redemption proper of most popular shares and accretion on most popular shares to redemption worth, non-GAAP internet loss attributable to odd shareholders of XPeng Inc. was RMB2,991.8 million (US$458.5 million) for fiscal yr 2020, in contrast with RMB3,708.9 million for the prior yr.
  • Primary and diluted internet loss per ADS have been each RMB12.97 (US$1.99) for fiscal yr 2020. Non-GAAP primary and diluted internet loss per ADS have been each RMB7.93 (US$1.22) for fiscal yr 2020.

“We closed 2020 on a robust word, with a file variety of complete deliveries within the fourth quarter of 12,964 autos, led by the P7, our second Good EV mannequin, which fueled our strong operational and monetary efficiency all year long,” mentioned Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our relentless concentrate on offering extremely differentiated Good EV merchandise to our clients and increasing our gross sales and repair community supported our achievements in 2020 and empowers our sustainable future progress.

“We spearhead innovation in China’s Good EV market by pursuing end-to-end R&D and closed-loop of knowledge capabilities. We proudly supply our clients a revolutionary in-car voice system and sensible cockpit know-how, in addition to XPILOT 3.0, our self-developed full-stack autonomous driving system, and we’re poised to launch our LIDAR-equipped third Good EV mannequin within the second half of 2021.

“We stay dedicated to our mission to drive Good EV transformation with know-how and information, shaping the mobility expertise of future. As a part of our long-term technique, we’re pursuing a set of cutting-edge Good EV applied sciences and merchandise, together with the next-generation autonomous driving system and powertrain platform that will probably be utilized to our future sensible fashions,” Mr. He concluded.

“XPeng’s stable leads to the fourth quarter and all through fiscal 2020 exemplify our capacity to efficiently meet fast-growing market demand for a sensible mobility expertise,” Dr. Brian Gu, Vice Chairman and President of XPeng mentioned, “Pushed by robust progress of auto deliveries, our income elevated 345.5% within the fourth quarter and 151.8% for the total yr, each on a year-over-year foundation.

“Our profitability continued to enhance, due to fast gross sales progress following the start of mass deliveries of P7. Particularly, our gross margin improved sequentially within the fourth quarter, and for the primary time, we achieved optimistic full-year gross margin, marking a big milestone in our firm historical past, reflecting the ability of our enterprise mannequin. Furthermore, our robust money place supplies us with a stable monetary basis, which we consider will assist execution of our progress methods, strengthen our aggressive edge and allow us to seize immense market alternatives for future progress,” Mr. Gu concluded.

Current Developments

Deliveries in January and February 2021

  • Complete Good EV deliveries reached 6,015 items in January 2021, representing a 470% improve year-over-year. The deliveries consisted of three,710 P7s, XPeng’s sensible sports activities sedan, and a couple of,305 G3s, XPeng’s compact sensible SUV.
  • Complete Good EV deliveries reached 2,223 items in February 2021, representing a 1,281% improve year-over-year. The deliveries consisted of 1,409 P7s, XPeng’s sensible sports activities sedan, and 814 G3s, XPeng’s compact sensible SUV. As of February 28, 2020, a cumulative complete of 20,181 P7s have been delivered.

Completion of Comply with-On Public Providing of American Depositary Shares

In December 2020, XPeng accomplished the providing of 55,200,000 American depositary shares (“ADSs”), every representing two Class A odd shares of the Firm, at a public providing worth of US$45.00 per ADS. The variety of ADSs issued at closing included the train in filled with the underwriters’ choice to buy 7,200,000 further ADSs from the Firm.

Getting into right into a Strategic Cooperation Settlement with Banks for RMB12.8 Billion Credit score Services

In January 2021, XPeng entered right into a strategic cooperation settlement with a handful of main home banks to safe a credit score line of RMB12.8 billion with a number of credit score amenities. These credit score amenities will assist the Firm’s enterprise operation and enlargement in its manufacturing, gross sales and repair capabilities, whereas optimizing effectivity.

OTA Launch of New Xmart OS 2.5.0 and XPilot 3.0

On January 26, 2021, XPeng launched a big over-the-air (OTA) replace for the P7, releasing a brand new model of P7’s working system, Xmart OS 2.5.0. The brand-new in-car working system options greater than 40 new features, together with enhancements and optimization of numerous present options. The brand new features cowl a number of modules, together with autonomous driving help, voice help, sensible cockpit, in-car App choices and customized settings. Particularly, this OTA replace options XPeng’s navigation assisted freeway autonomous driving resolution NGP (Navigation Guided Pilot), which constitutes core capabilities of XPILOT 3.0.

Fourth Quarter 2020 Unaudited Monetary Outcomes

Complete revenues have been RMB2,851.4 million (US$437.0 million) for the fourth quarter of 2020, representing a rise of 345.5% from RMB640.0 million for a similar interval of 2019 and a rise of 43.3% from RMB1,990.1 million for the third quarter of 2020.

Revenues from car gross sales have been RMB2,735.4 million (US$419.2 million) for the fourth quarter of 2020, representing a rise of 375.7% from RMB575.0 million for a similar interval of 2019 and a rise of 44.1% from RMB1,898.0 million for the third quarter of 2020. The year-over-year improve was primarily resulting from mass supply of the P7, which began on the finish of June 2020. The quarter-over-quarter improve was primarily resulting from accelerated car deliveries of the P7 and the G3 within the fourth quarter of 2020.

Revenues from providers and others have been RMB116.0 million (US$17.8 million) for the fourth quarter of 2020, representing a rise of 78.5% from RMB65.0 million for a similar interval of 2019 and a rise of 26.0% from RMB92.1 million for the third quarter of 2020. The year-over-year and the quarter-over-quarter will increase have been primarily attributed to elevated income from after-sales providers and the rise in sale of retail merchandising providers, which each have been related to the rise within the collected variety of autos delivered.

Price of gross sales was RMB2,640.8 million (US$404.7 million) for the fourth quarter of 2020, representing a rise of 287.2% from RMB682.1 million for a similar interval of 2019, and a rise of 39.1% from RMB1,898.6 million for the third quarter of 2020. The year-over-year and the quarter-over-quarter will increase have been primarily because of the improve of auto deliveries as described above.

Gross margin was 7.4% for the fourth quarter of 2020, in comparison with adverse 6.6% and 4.6% for the fourth quarter of 2019 and the third quarter of 2020, respectively.

Automobile margin was 6.8% for the fourth quarter of 2020, in comparison with adverse 8.5% for a similar interval of 2019 and three.2% for the third quarter of 2020. The development was primarily resulting from higher product combine, decreased materials prices and elevated manufacturing effectivity.

Analysis and improvement bills have been RMB460.0 million (US$70.5 million) for the fourth quarter of 2020, representing a lower of 29.4% from RMB652.0 million for a similar interval of 2019 and a lower of 27.6% from RMB635.4 million for the third quarter of 2020. The year-over-year lower was primarily resulting from greater bills referring to the event of the P7 in the identical interval of 2019. The quarter-over-quarter lower was primarily resulting from decreased share-based compensation bills within the fourth quarter in comparison with a one-off great amount acknowledged within the third quarter associated to the share-based awards granted to the Firm’s staff with a efficiency situation of an IPO.

Promoting, common and administrative bills have been RMB917.9 million (US$140.7 million) for the fourth quarter of 2020, representing a rise of 132.7% from RMB394.5 million for a similar interval of 2019 and a lower of 23.7% from RMB1,203.8 million for the third quarter of 2020. The year-over-year improve was primarily resulting from (i) greater advertising, promotional and promoting bills to assist car gross sales, (ii) the enlargement of our gross sales community and related personnel price for gross sales employees, lease bills for bodily gross sales and repair facilities, and fee for the franchised shops. The quarter-over-quarter lower was primarily resulting from decreased quantity of share-based compensation bills in contrast with the one-off great amount acknowledged within the earlier quarter associated to the share-based awards aforementioned, offset by will increase in advertising, promotional and promoting bills, personnel price, lease bills and fee as talked about above. Excluding the share-based compensation bills, the year-over-year and the quarter-over-quarter will increase primarily resulted from the upper advertising, promotional and promoting bills to assist new car gross sales, the enlargement of our gross sales community and related personnel price for gross sales employees, and elevated fee to the franchised shops.

Loss from operations was RMB1,121.2 million (US$171.8 million) for the fourth quarter of 2020, in contrast with RMB1,086.1 million for a similar interval of 2019 and RMB1,744.2 million for the third quarter of 2020.

Non-GAAP loss from operations, which excludes share-based compensation bills, was RMB1,046.4 million (US$160.4 million) within the fourth quarter, in contrast with RMB1,086.0 million for a similar interval of 2019 and RMB822.6 million for the third quarter of 2020.

Web loss was RMB787.4 million (US$120.7 million) for the fourth quarter of 2020, in contrast with RMB997.1 million for a similar interval of 2019 and RMB1,148.8 million for the third quarter of 2020.

Non-GAAP internet loss, which excludes share-based compensation bills and truthful worth change on by-product liabilities associated to the redemption proper of most popular shares, was RMB712.6 million (US$109.2 million) for the fourth quarter of 2020, in contrast with RMB1,097.1 million for a similar interval of 2019 and RMB864.9 million for the third quarter of 2020.

Web loss attributable to odd shareholders of XPeng Inc. was RMB787.4 million (US$120.7 million) for the fourth quarter of 2020, in contrast with RMB1,354.6 million for a similar interval of 2019 and RMB2,025.8 million within the third quarter of 2020.

Non-GAAP internet loss attributable to odd shareholders of XPeng Inc., which excludes share-based compensation bills, truthful worth change on by-product liabilities associated to the redemption proper of most popular shares and accretion on most popular shares to redemption worth, was RMB712.6 million (US$109.2 million) for the fourth quarter of 2020, in contrast with RMB1,097.1 million for a similar interval of 2019 and RMB864.9 million for the third quarter of 2020.

Primary and diluted internet loss per ADS have been each RMB1.05 (US$0.16) for the fourth quarter of 2020, in comparison with RMB7.75 for the fourth quarter of 2019 and RMB5.07 for the third quarter of 2020.

Non-GAAP primary and diluted internet loss per ADS have been each RMB0.95 (US$0.15) for the fourth quarter of 2020, in comparison with RMB6.28 for the fourth quarter of 2019 and RMB2.16 for the third quarter of 2020.

Stability Sheets

As of December 31, 2020, the Firm had money and money equivalents, restricted money, short-term deposits and short-term investments of RMB35,342.1 million (US$5,416.4 million), in comparison with RMB2,815.6 million as of December 31, 2019.

Fiscal 12 months 2020 Unaudited Monetary Outcomes

Complete revenues have been RMB5,844.3 million (US$895.7 million) for the fiscal yr of 2020, representing a rise of 151.8% from RMB2,321.2 million for the prior yr.

Revenues from car gross sales have been RMB5,546.8 million (US$850.1 million) for fiscal yr 2020, representing a rise of 155.5% from RMB2,171.2 million for the prior yr. The rise was primarily resulting from greater gross sales and higher product combine on account of mass supply of the P7 within the second quarter of 2020.

Revenues from providers and others have been RMB297.5 million (US$45.6 million) for fiscal yr 2020, representing a rise of 98.3% from RMB150.0 million for the prior yr. The rise was primarily attributed to elevated income from after-sales providers and sale of retail merchandise which have been related to the rise in collected variety of autos delivered.

Price of gross sales was RMB5,578.3 million (US$854.9 million) for fiscal yr 2020, representing a rise of 93.7% from RMB2,879.4 million for the prior yr. The rise was primarily because of the improve of auto deliveries as described above.

Gross margin was 4.6% for fiscal yr 2020, in comparison with adverse 24.0% for the prior yr.

Automobile margin was 3.5% for fiscal yr 2020, in comparison with adverse 25.9% for the prior yr, primarily resulting from higher product combine, decreased materials prices and improved manufacturing effectivity.

Analysis and improvement bills have been RMB1,725.9 million (US$264.5 million) for fiscal yr 2020, representing a lower of 16.6% from RMB2,070.2 million for the prior yr. The lower was primarily resulting from greater bills referring to the event of the P7 in 2019.

Promoting, common and administrative bills have been RMB2,920.6 million (US$447.6 million) for fiscal yr 2020, representing a rise of 150.8% from RMB1,164.6 million for the prior yr. The rise was primarily resulting from (i) greater advertising, promotional and promoting bills to assist car gross sales, (ii) the enlargement of our gross sales community and related personnel price for gross sales employees, lease bills for the bodily gross sales and repair facilities, and fee to the franchised shops, and (iii) share-based compensation bills acknowledged from the share-based awards granted to the Firm’s staff in 2020, together with a one-off great amount acknowledged within the third quarter associated to the share-based awards granted to the Firm’s staff with a efficiency situation of an IPO.

Loss from operations was RMB4,293.7 million (US$658.0 million) for fiscal yr 2020, in contrast with RMB3,780.6 million for the prior yr.

Non-GAAP loss from operations, which excludes share-based compensation bills, was RMB3,297.3 million (US$505.3 million) for fiscal yr 2020, in contrast with RMB3,780.1 million for the prior yr.

Web loss was RMB2,732.0 million (US$418.7 million) for fiscal yr 2020, in contrast with RMB3,691.7 million for the prior yr.

Non-GAAP internet loss, which excludes share-based compensation bills and truthful worth change on by-product liabilities associated to the redemption proper of most popular shares, was RMB2,991.8 million (US$458.5 million) for fiscal yr 2020, in contrast with RMB3,718.8 million for the prior yr.

Web loss attributable to odd shareholders of XPeng Inc. was RMB4,889.7 million (US$749.4 million) for fiscal yr 2020, in contrast with RMB4,642.8 million for the prior yr.

Non-GAAP internet loss attributable to odd shareholders of XPeng Inc., which excludes share-based compensation bills, truthful worth change on by-product liabilities associated to the redemption proper of most popular shares and accretion on most popular shares to redemption worth, was RMB2,991.8 million (US$458.5 million) for fiscal yr 2020, in contrast with RMB3,708.9 million for the prior yr.

Primary and diluted internet loss per ADS have been each RMB12.97 (US$1.99) for fiscal yr 2020, in comparison with RMB26.57 for the prior yr.

Non-GAAP primary and diluted internet loss per ADS have been each RMB7.93 (US$1.22) for fiscal yr 2020, in comparison with RMB21.23 for the prior yr.

Enterprise Outlook

For the primary quarter of 2021, the Firm expects:

  • Deliveries of autos to be roughly 12,500 autos, representing a year-over-year improve of roughly 450%.
  • Complete revenues to be roughly RMB2.6 billion, representing a year-over-year improve of roughly 531%.

The above outlook is predicated on the present market situations and displays the Firm’s preliminary estimates of market and working situations, and buyer demand, that are all topic to vary.

Convention Name

The Firm’s administration will host an earnings convention name at 8:00 AM U.S. Jap Time on March 8, 2021 (9:00 PM Beijing/Hong Kong time on March 8, 2021).

Dial-in particulars for the earnings convention name are as follows:

United States:

+1-833-350-1333

United Kingdom

+44-203-547-8612

Worldwide:

+1-236-389-2427

Hong Kong, China:

+852-3012-6671

Mainland China:

400-820-9391

Convention ID:

9292911

Individuals ought to dial-in at the very least 5 minutes earlier than the scheduled begin time to be related to the decision.

Moreover, a stay and archived webcast of the convention name will probably be out there on the Firm’s investor relations web site at http://ir.xiaopeng.com.

A replay of the convention name will probably be accessible roughly two hours after the conclusion of the decision till March 15, 2021, by dialing the next phone numbers:

United States:

+1-800-585-8367

Worldwide:

+1-416-621-4642

Replay Entry Code:

9292911

About XPeng Inc.

XPeng Inc. is a number one Chinese language sensible electrical car firm that designs, develops, manufactures, and markets Good EVs that attraction to the big and rising base of technology-savvy middle-class customers in China. Its mission is to drive Good EV transformation with know-how and information, shaping the mobility expertise of the longer term. So as to optimize its clients’ mobility expertise, XPeng develops in-house its full-stack autonomous driving know-how and in-car clever working system, in addition to core car techniques together with powertrain and the electrification/digital structure. XPeng is headquartered in Guangzhou, China, with workplaces in Beijing, Shanghai, Silicon Valley, and San Diego within the U.S. The Firm’s Good EVs are manufactured at vegetation in Zhaoqing and Zhengzhou, positioned in Guangdong and Henan provinces, respectively. For extra data, please go to https://en.xiaopeng.com.

Use of Non-GAAP Monetary Measures

The Firm makes use of non-GAAP measures, reminiscent of non-GAAP loss from operations, non-GAAP internet loss, non-GAAP internet loss attributable to odd shareholders, non-GAAP primary loss per weighted common variety of odd shares and non-GAAP primary loss per ADS, in evaluating its working outcomes and for monetary and operational decision-making functions. By excluding the impression of share-based compensation bills, truthful worth change on by-product liabilities associated to the redemption proper of most popular shares and/or accretion on most popular shares to redemption worth, the Firm believes that the non-GAAP monetary measures assist determine underlying tendencies in its enterprise and improve the general understanding of the Firm’s previous efficiency and future prospects. The Firm additionally believes that the non-GAAP monetary measures enable for larger visibility with respect to key metrics utilized by the Firm’s administration in its monetary and operational decision-making. The non-GAAP monetary measures will not be offered in accordance with U.S. GAAP and could also be totally different from non-GAAP strategies of accounting and reporting utilized by different corporations. The non-GAAP monetary measures have limitations as analytical instruments and when assessing the Firm’s working efficiency, buyers mustn’t take into account them in isolation, or as an alternative to internet loss or different consolidated statements of complete loss information ready in accordance with U.S. GAAP. The Firm encourages buyers and others to evaluate its monetary data in its entirety and never depend on a single monetary measure. The Firm mitigates these limitations by reconciling the non-GAAP monetary measures to essentially the most comparable U.S. GAAP efficiency measures, all of which needs to be thought-about when evaluating the Firm’s efficiency.

For extra data on the non-GAAP monetary measures, please see the desk captioned “Reconciliation of GAAP and non-GAAP Outcomes” set forth on the finish of this press launch.

Alternate Charge Info

This announcement incorporates translations of sure RMB quantities into U.S. {dollars} at a specified fee solely for the comfort of the reader. Except in any other case famous, all translations from RMB to U.S. {dollars} and from U.S. {dollars} to RMB are made at a fee of RMB6.5250 to US$1.00, the trade fee on December 31, 2020 set forth within the H.10 statistical launch of the Federal Reserve Board. The Firm makes no illustration that the RMB or U.S. {dollars} quantities referred might be transformed into U.S. {dollars} or RMB, because the case could also be, at any explicit fee or in any respect.

Protected Harbor Assertion

This announcement incorporates forward-looking statements. These statements are made beneath the “protected harbor” provisions of the US Non-public Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology reminiscent of “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Statements that aren’t historic information, together with statements about XPeng’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A lot of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: XPeng’s aim and methods; XPeng’s enlargement plans; XPeng’s future enterprise improvement, monetary situation and outcomes of operations; the tendencies in, and dimension of, China’s EV market; XPeng’s expectations relating to demand for, and market acceptance of, its services and products; XPeng’s expectations relating to its relationships with clients, contract producer, suppliers, third-party service suppliers, strategic companions and different stakeholders; common financial and enterprise situations; and assumptions underlying or associated to any of the foregoing. Additional data relating to these and different dangers is included in XPeng’s filings with the SEC. All data supplied on this press launch is as of the date of this press launch, and XPeng doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All quantities in hundreds, aside from share and per share information)

As of

December 31, 2019

December 31, 2020

December 31, 2020

(audited)

(unaudited)

(unaudited)

RMB

RMB

USD

Property

Present belongings:

Money and money equivalents

1,946,931

29,209,388

4,476,535

Restricted money

460,812

2,332,145

357,417

Brief-term deposits

979,897

150,176

Brief-term investments

407,844

2,820,711

432,293

By-product assets-current

105,183

16,120

Accounts receivable, internet

539,199

1,128,892

173,010

Present portion of finance lease

receivables, internet

45,836

156,069

23,919

Stock

454,116

1,343,025

205,828

Quantities due from associated events

22,605

682

105

Prepayments and different present belongings

1,083,307

1,603,286

245,714

Complete present belongings

4,960,650

39,679,278

6,081,117

Non-current belongings:

Property, plant and gear, internet

3,229,952

3,081,502

472,261

Proper-of-use belongings

440,097

461,184

70,680

Intangible belongings, internet

117,932

607,781

93,147

Land use rights, internet

255,257

249,934

38,304

Finance lease receivables, internet

109,965

397,467

60,914

Different non-current belongings

137,512

228,633

35,040

Lengthy-term investments

1,000

153

Complete non-current belongings

4,290,715

5,027,501

770,499

Complete belongings

9,251,365

44,706,779

6,851,616

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All quantities in hundreds, aside from share and per share information)

 

As of

December 31, 2019

December 31, 2020

December 31, 2020

(audited)

(unaudited)

(unaudited)

RMB

RMB

USD

Liabilities

Present liabilities

Brief-term borrowings

419,950

127,900

19,602

Accounts and notes payable

953,946

5,111,745

783,409

Quantity resulting from a associated occasion

678

12,062

1,849

Present portion of lease liabilities

90,740

119,565

18,324

Present portion of deferred income

16,382

163,617

25,075

Present portion of long-term borrowings

60,000

45,000

6,897

Accruals and different liabilities

1,755,995

2,256,165

345,773

Revenue taxes payable

1,209

185

Complete present liabilities

3,297,691

7,837,263

1,201,114

Non-current liabilities

Lengthy-term borrowings

1,690,000

1,645,000

252,107

Lease liabilities

361,404

352,501

54,023

Deferred income

69,116

144,767

22,187

Different non-current liabilities

73,015

297,439

45,585

By-product liabilities

897,091

Complete non-current liabilities

3,090,626

2,439,707

373,902

Complete liabilities

6,388,317

10,276,970

1,575,016

Mezzanine Fairness

convertible redeemable most popular shares

9,693,478

Complete mezzanine fairness

9,693,478

Shareholder’s fairness

Class A Atypical shares

2

63

10

Class B Atypical shares

19

26

4

Class C Atypical shares

12

2

Further paid in capital

46,482,512

7,123,757

Gathered different complete loss

(5,948

)

(730,381

)

(111,936

)

Gathered deficit

(6,824,503

)

(11,322,423

)

(1,735,237

)

Complete shareholders’ fairness

(6,830,430

)

34,429,809

5,276,600

Noncontrolling pursuits

Complete shareholders’ fairness

(6,830,430

)

34,429,809

5,276,600

Complete liabilities, mezzanine fairness and

   shareholders’ fairness

9,251,365

44,706,779

6,851,616

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(All quantities in hundreds, aside from share and per share information)

 

Three Months Ended

December 31, 2019

September 30, 2020

December 31, 2020

December 31, 2020

(unaudited)

(unaudited)

(unaudited)

(unaudited)

RMB

RMB

RMB

USD

Revenues

-Automobile gross sales

574,957

1,898,041

2,735,444

419,225

-Providers and others

65,053

92,078

115,908

17,764

Complete revenues

640,010

1,990,119

2,851,352

436,989

Price of gross sales

-Automobile gross sales

(623,998

)

(1,836,756

)

(2,550,587

)

(390,895

)

-Providers and others

(58,061

)

(61,822

)

(90,201

)

(13,824

)

Complete price of gross sales

(682,059

)

(1,898,578

)

(2,640,788

)

(404,719

)

Gross (loss)/revenue

(42,049

)

91,541

210,564

32,270

Working bills

 

Analysis and improvement bills

(651,958

)

(635,373

)

(459,955

)

(70,491

)

Promoting, common and administrative

   bills

(394,462

)

(1,203,792

)

(917,883

)

(140,672

)

Complete working bills

(1,046,420

)

(1,839,165

)

(1,377,838

)

(211,163

)

Different revenue

2,370

3,440

46,097

7,065

Loss from operations

(1,086,099

)

(1,744,184

)

(1,121,177

)

(171,828

)

Curiosity revenue

8,237

23,216

88,867

13,619

Curiosity expense

(9,872

)

(3,926

)

(2,571

)

(394

)

Truthful worth acquire on by-product liabilities

100,122

620,209

123,374

18,908

Different non-operating (loss)/revenue, internet

(9,455

)

(44,070

)

125,303

19,204

Loss earlier than revenue taxes

(997,067

)

(1,148,755

)

(786,204

)

(120,491

)

Revenue tax bills

(1

)

(6

)

(1,217

)

(187

)

Web loss

(997,068

)

(1,148,761

)

(787,421

)

(120,678

)

Accretion on Most popular Shares

   to redemption worth

(357,529

)

(877,007

)

Web loss attributable to odd

shareholders of XPeng Inc.

(1,354,597

)

(2,025,768

)

(787,421

)

(120,678

)

Web loss

(997,068

)

(1,148,761

)

(787,421

)

(120,678

)

Different complete loss

Overseas foreign money translation adjustment,

   internet of nil tax

(7,379

)

(143,220

)

(565,814

)

(86,715

)

Complete different complete loss

(7,379

)

(143,220

)

(565,814

)

(86,715

)

Complete complete loss

(1,004,447

)

(1,291,981

)

(1,353,235

)

(207,393

)

Accretion on Most popular Shares to

redemption worth

(357,529

)

(877,007

)

Complete loss attributable to

odd shareholders of XPeng Inc.

(1,361,976

)

(2,168,988

)

(1,353,235

)

(207,393

)

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(All quantities in hundreds, aside from share and per share information)

 

Three Months Ended

December 31, 2019

September 30, 2020

December 31, 2020

December 31, 2020

(unaudited)

(unaudited)

(unaudited)

(unaudited)

RMB

RMB

RMB

USD

Weighted common variety of

odd shares utilized in computing

internet loss per share

Primary and diluted

349,558,977

799,364,696

1,495,225,306

1,495,225,306

Web loss per share attributable to

odd shareholders

Primary and diluted

(3.88

)

(2.53

)

(0.53

)

(0.08

)

Weighted common variety of ADS

utilized in computing internet loss per

share

Primary and diluted

174,779,489

399,682,348

747,612,653

747,612,653

Web loss per ADS attributable to odd shareholders

Primary and diluted

(7.75

)

(5.07

)

(1.05

)

(0.16

)

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(All quantities in hundreds, aside from share and per share information)

 

For the 12 months Ended December 31,

2019

2020

2020

(audited)

(unaudited)

(unaudited)

RMB

RMB

USD

Revenues

-Automobile gross sales

2,171,231

5,546,754

850,077

-Providers and others

149,988

297,567

45,604

Complete revenues

2,321,219

5,844,321

895,681

 

Price of gross sales

-Automobile gross sales

(2,733,531

)

(5,350,479

)

(819,997

)

-Providers and others

(145,829

)

(227,853

)

(34,920

)

Complete price of gross sales

(2,879,360

)

(5,578,332

)

(854,917

)

 

Gross (loss)/revenue

(558,141

)

265,989

40,764

Working bills

Analysis and improvement bills

(2,070,158

)

(1,725,906

)

(264,507

)

Promoting, common and administrative bills

(1,164,569

)

(2,920,649

)

(447,609

)

Complete working bills

(3,234,727

)

(4,646,555

)

(712,116

)

Different revenue

12,294

86,830

13,307

Loss from operations

(3,780,574

)

(4,293,736

)

(658,045

)

Curiosity revenue

88,843

133,036

20,389

Curiosity expense

(32,017

)

(22,451

)

(3,441

)

Truthful worth acquire on by-product liabilities

27,679

1,362,025

208,739

Different non-operating revenue

4,397

90,364

13,849

Loss earlier than revenue taxes

(3,691,672

)

(2,730,762

)

(418,509

)

Revenue tax bills

(1

)

(1,223

)

(187

)

Web loss

(3,691,673

)

(2,731,985

)

(418,696

)

Accretion on Most popular Shares to redemption worth

(961,050

)

(2,157,744

)

(330,689

)

Deemed contribution from repurchase of Most popular

   Shares

9,969

Web loss attributable to odd shareholders of

XPeng Inc.

(4,642,754

)

(4,889,729

)

(749,385

)

 

Web loss

(3,691,673

)

(2,731,985

)

(418,696

)

Different complete loss

Overseas foreign money translation adjustment, internet of nil tax

(2,968

)

(724,433

)

(111,024

)

Complete different complete loss

(2,968

)

(724,433

)

(111,024

)

Complete complete loss

(3,694,641

)

(3,456,418

)

(529,720

)

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(All quantities in hundreds, aside from share and per share information)

For the 12 months Ended December 31,

2019

2020

2020

(audited)

(unaudited)

(unaudited)

RMB

RMB

USD

Accretion on Most popular Shares to redemption worth

(961,050

)

(2,157,744

)

(330,689

)

Deemed contribution from repurchase of Most popular

   Shares

9,969

Complete loss attributable to odd

shareholders of XPeng Inc.

(4,645,722

)

(5,614,162

)

(860,409

)

 

Weighted common variety of odd shares used

in computing internet loss per share

Primary and diluted

349,450,580

754,270,914

754,270,914

Web loss per share attributable to odd

shareholders

Primary and diluted

(13.29

)

(6.48

)

(0.99

)

 

Weighted common variety of ADS utilized in

computing internet loss per share

Primary and diluted

174,725,290

377,135,457

377,135,457

Web loss per ADS attributable to odd

shareholders

Primary and diluted

(26.57

)

(12.97

)

(1.99

)

 

XPENG INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All quantities in hundreds, aside from share and per share information)

 

Three Months Ended

December 31, 2019

September 30, 2020

December 31, 2020

December 31, 2020

(unaudited)

(unaudited)

(unaudited)

(unaudited)

RMB

RMB

RMB

USD

Loss from operations

(1,086,099

)

(1,744,184

)

(1,121,177

)

(171,828

)

Share-based compensation

   bills

131

921,610

74,807

11,465

Non-GAAP loss from

   operations

(1,085,968

)

(822,574

)

(1,046,370

)

(160,363

)

 

Web loss

(997,068

)

(1,148,761

)

(787,421

)

(120,678

)

Share-based compensation

   bills

131

921,610

74,807

11,465

Truthful worth acquire of convertible

   redeemable most popular shares

(100,122

)

(637,779

)

Non-GAAP internet loss

(1,097,059

)

(864,930

)

(712,614

)

(109,213

)

 

Web loss attributable to

   odd shareholders

(1,354,597

)

(2,025,768

)

(787,421

)

(120,678

)

Share-based compensation

   bills

131

921,610

74,807

11,465

Truthful worth acquire of convertible

   redeemable most popular shares

(100,122

)

(637,779

)

Accretion on Most popular Shares

   to redemption worth

357,529

877,007

Non-GAAP internet loss attributable

to odd shareholders of

XPeng Inc.

(1,097,059

)

(864,930

)

(712,614

)

(109,213

)

 
 

Weighted common variety of

odd shares utilized in

calculating Non-GAAP internet loss

per share

Primary and diluted

349,558,977

799,364,696

1,495,225,306

1,495,225,306

 

Non-GAAP internet loss per

odd share

(3.14

)

(1.08

)

(0.48

)

(0.07

)

Primary and diluted

 

Weighted common variety of

ADS utilized in calculating Non-

GAAP internet loss per share

Primary and diluted

174,779,489

399,682,348

747,612,653

747,612,653

 

Non-GAAP internet loss per ADS

Primary and diluted

(6.28

)

(2.16

)

(0.95

)

(0.15

)

XPENG INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All quantities in hundreds, aside from share and per share information)

 

For the 12 months Ended December 31,

2019

2020

2020

(audited)

(unaudited)

(unaudited)

RMB’000

RMB’000

USD’000

Loss from operations

(3,780,574

)

(4,293,736

)

(658,045

)

Share-based compensation

bills

517

996,417

152,708

Non-GAAP loss from

operations

(3,780,057

)

(3,297,319

)

(505,337

)

 

Web loss

(3,691,673

)

(2,731,985

)

(418,696

)

Share-based compensation

   bills

517

996,417

152,708

Truthful worth acquire of convertible

   redeemable most popular shares

(27,679

)

(1,256,221

)

(192,524

)

Non-GAAP internet loss

(3,718,835

)

(2,991,789

)

(458,512

)

 

Web loss attributable to

   odd shareholders

(4,642,754

)

(4,889,729

)

(749,385

)

Share-based compensation

   bills

517

996,417

152,708

Truthful worth acquire of convertible

   redeemable most popular shares

(27,679

)

(1,256,221

)

(192,524

)

Accretion on Most popular Shares

   to redemption worth

961,050

2,157,744

330,689

Non-GAAP internet loss attributable

to odd shareholders of

XPeng Inc.

(3,708,866

)

(2,991,789

)

(458,512

)

 
 

Weighted common variety of

odd shares utilized in

calculating Non-GAAP internet loss

per share

Primary and diluted

349,450,580

754,270,914

754,270,914

 

Non-GAAP internet loss per

odd share

Primary and diluted

(10.61

)

(3.97

)

(0.61

)

 

Weighted common variety of

ADS utilized in calculating Non-

GAAP internet loss per share

Primary and diluted

174,725,290

377,135,457

377,135,457

 

Non-GAAP internet loss per ADS

Primary and diluted

(21.23

)

(7.93

)

(1.22

)


1 XPeng began mass supply of the P7 in late June 2020.

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