Xpeng Motors Financial Report: In Q1 2022, Xpeng Motors' net loss was 1.7 billion, an increase of nearly 1 billion yuan year-on-year

Recently, Xpeng Motors announced its unaudited financial results for the three months ending March 31, 2022. According to the financial report, Xpeng Motors' revenue in the first quarter was 7.45 billion yuan, a year-on-year increase of 152.6%; its net loss in the first quarter was 1.70 billion yuan, compared with 787 million yuan in the same period last year. The quarterly gross profit margin reached 12.2%, up 100 basis points year-on-year.

Xpeng Motors delivered 34,561 vehicles in the first quarter, a year-on-year increase of 159%; it expects deliveries in the second quarter to be between 31,000 and 34,000 vehicles.

Financial Summary :

Total vehicle deliveries in the first quarter of 2022 were 34,561, up 159% from 13,340 in the same period of 2021.

‧ The delivery volume of the smart sports sedan P7 in the first quarter of 2022 was 19,427 units, an increase of 144% from 7,974 units in the same period of 2021. The monthly delivery volume of the smart sports sedan P7 exceeded 9,000 units for the first time in March 2022.

‧ After mass production began in October 2021, the delivery volume of the smart family sedan P5 maintained a steady growth momentum, reaching 10,486 units in the first quarter of 2022, of which more than 50% can support XPILOT3.0 or XPILOT 3.5.

Management Comments

"Our first quarter results are a strong start to 2022. Demand for our high-quality electric vehicle products is strong, and our self-developed technology continues to lead the industry," said Mr. He Xiaopeng, Chairman and CEO of Xpeng Motors. "Excellent self-developed technology development capabilities and proactive supply chain management enable us to respond to supply chain challenges more efficiently. Despite the impact of semiconductor shortages and the COVID-19 pandemic, we remain confident in expanding our market share."

"We are pleased to start the new year with a strong quarter. Our total revenue in the first quarter of 2022 increased 152.6% year-on-year, and gross margin remained healthy," said Dr. Gu Hongdi, Honorary Vice Chairman and President of Xpeng Motors. "We will continue to navigate supply chain uncertainties and remain confident in the exciting product pipeline we plan to launch in 2022 and beyond. In addition, we plan to further leverage economies of scale and continue to improve our operating efficiency."

Recent Developments

‧ In April 2022, total deliveries reached 9,002 units, up 75% year-on-year. The deliveries included 3,714 P7 (smart sports sedan), 3,564 P5 (smart family sedan) and 1,724 G3 and G3 (compact smart i SUV).

‧ As of April 30, 2022, total deliveries for the year reached 43,563 vehicles, a year-on-year increase of 136%.

Business Outlook

For the second quarter of 2022, the Company expects:

‧ Vehicle deliveries will be between 31,000 and 34,000 units, representing year-over-year growth of approximately 78.2% to 95.4%.

Total revenue will be between RMB6.8 billion and RMB7.5 billion, representing a year-on-year increase of approximately 80.8% to 99.4%.