XPeng Reports Third Quarter 2021 Unaudited Financial Results

XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data)

	31 December,	As of 30 September,	30 September,
	2020 (audited) RMB	2021 (unaudited) RMB	2021 (unaudited) USD
Assets
Current assets Cash and cash equivalents	29,209,388	15,393,548	2,389,041
Restricted cash	2,332,145	829,652	128,760
Short-term deposits	979,897	23,201,524	3,600,820
Short-term investments	2,820,711	3,393,298	526,632
Derivative assets-current	105,183	5,037	782
Accounts receivable, net	1,128,892	2,072,972	321,720
Current portion of finance lease receivables, net	156,069	573,879	89,065
Inventory	1,343,025	2,306,979	358,038
Amounts due from related parties	682	22,456	3,485
Prepayments and other current assets	1,603,286	2,467,881	383,005
Total current assets	39,679,278	50,267,226	7,801,348

Non-current assets
Property, plant and equipment, net	3,081,502	4,551,409	706,368
Right-of-use assets	461,184	1,250,949	194,144
Intangible assets, net	607,781	856,911	132,991
Land use rights, net	249,934	598,578	92,898
Finance lease receivables, net	397,467	1,333,751	206,995
Long-term deposits	—	2,539,886	394,184
Other non-current assets	228,633	152,444	23,659
Long-term investments	1,000	44,830	6,958
Total non-current assets	5,027,501	11,328,758	1,758,197
Total assets	44,706,779	61,595,984	9,559,545

XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data)

	31 December,	As of 30 September,	30 September,
	2020 (audited) RMB	2021 (unaudited) RMB	2021 (unaudited) USD
Liabilities
Current liabilities
Short-term borrowings	127,900	57,000	8,846
Accounts and notes payable	5,111,745	8,840,669	1,372,050
Amount due to a related party	12,062	19,371	3,006
Current portion of lease liabilities	119,565	328,604	50,999
Current portion of deferred revenue	163,617	223,473	34,682
Current portion of long-term borrowings	45,000	—	—
Accruals and other liabilities	2,256,165	3,516,042	545,681
Income taxes payable	1,209	—	—

Total current liabilities	7,837,263	12,985,159	2,015,264

Non-current liabilities
Long-term borrowings	1,645,000	1,323,656	205,428
Lease liabilities — non current	352,501	922,528	143,174
Deferred revenue	144,767	383,089	59,454
Other non-current liabilities	297,439	2,067,996	320,948

Total non-current liabilities	2,439,707	4,697,269	729,004

Total liabilities	10,276,970	17,682,428	2,744,268

Shareholder’s equity
Class A Ordinary shares	63	87	14
Class B Ordinary shares	26	25	4
Class C Ordinary shares	12	—	—
Additional paid in capital	46,482,512	59,891,688	9,295,044
Accumulated other comprehensive loss	(730,381)	(1,079,890)	(167,596)
Accumulated deficit	(11,322,423)	(14,898,354)	(2,312,189)

Total shareholders’ equity	34,429,809	43,913,556	6,815,277

Noncontrolling interests	—	—	—

Total shareholders’ equity	34,429,809	43,913,556	6,815,277

Total liabilities, mezzanine equity and shareholders’ equity	44,706,779	61,595,984	9,559,545

XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(All amounts in thousands, except for share and per share data)

	Three Months Ended
	September 30,		June 30,		September 30,		September 30,
	2020 (unaudited)		2021 (unaudited)		2021 (unaudited)		2021 (unaudited)
	RMB		RMB		*RMB*		*USD*
Revenues
— Vehicle sales	1,898,041		3,584,364		5,460,063		847,388
— Services and others	92,078		176,915		259,855		40,329

Total revenues	1,990,119		3,761,279		5,719,918		887,717

Cost of sales
— Vehicle sales	(1,836,756	)	(3,191,489	)	(4,718,809	)	(732,348	)
— Services and others	(61,822	)	(121,210	)	(180,285	)	(27,980	)

Total cost of sales	(1,898,578	)	(3,312,699	)	(4,899,094	)	(760,328	)

Gross profit	91,541		448,580		820,824		127,389

Operating expenses
Research and development
expenses	(635,373	)	(863,524	)	(1,264,240	)	(196,207	)
Selling, general and administrative
expenses	(1,203,792	)	(1,030,767	)	(1,538,420	)	(238,759	)

Total operating expenses	(1,839,165	)	(1,894,291	)	(2,802,660	)	(434,966	)

Other income	3,440		2,546		179,196		27,811

Loss from operations	(1,744,184	)	(1,443,165	)	(1,802,640	)	(279,766	)

Interest income	23,216		150,029		193,888		30,091
Interest expense	(3,926	)	(24,006	)	(16,347	)	(2,537	)
Fair value gain on derivative
liabilities	620,209		77,790		30,190		4,685
Other non-operating (loss)/income,
net	(44,070	)	44,783		411		64

Loss before income taxes	(1,148,755	)	(1,194,569	)	(1,594,498	)	(247,463	)

Income tax expenses	(6	)	—		(303	)	(47	)

Net loss	(1,148,761	)	(1,194,569	)	(1,594,801	)	(247,510	)

Accretion on Preferred Shares to
redemption value	(877,007	)	—		—		—

Net loss attributable to ordinary
shareholders of XPeng Inc.	(2,025,768	)	(1,194,569	)	(1,594,801	)	(247,510	)

XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (CONTINUED)
(All amounts in thousands, except for share and per share data)

	Three Months Ended
	September 30,	June 30,	September 30,	September 30,
	2020 (unaudited)	2021 (unaudited)	2021 (unaudited)	2021 (unaudited)
	RMB	RMB	*RMB*	*USD*
Net loss	(1,148,761)	(1,194,569)	(1,594,801)	(247,510)
Other comprehensive loss
Foreign currency translation
adjustment, net of nil tax	(143,220)	(424,123)	(26,478)	(4,109)
Total comprehensive loss	(1,291,981)	(1,618,692)	(1,621,279)	(251,619)

Accretion on Preferred Shares to redemption value	(877,007)	—	—	—

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.	(2,168,988)	(1,618,692)	(1,621,279)	(251,619)

Weighted average number of ordinary shares used in computing net loss per share Basic and diluted	799,364,696	1,592,387,877	1,689,885,370	1,689,885,370

Net loss per share attributable to ordinary shareholders Basic and diluted	(2.53)	(0.75)	(0.94)	(0.15)

Weighted average number of ADS used in computing net loss per share Basic and diluted	399,682,348	796,193,938	844,942,685	844,942,685

Net loss per ADS attributable to ordinary shareholders
Basic and diluted	(5.07)	(1.50)	(1.89)	(0.29)

XPENG INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except for share and per share data)

	Three Months Ended
	September 30,		June 30,		September 30,		September 30,
	2020 (unaudited)		2021 (unaudited)		2021 (unaudited)		2021 (unaudited)
	RMB		RMB		*RMB*		*USD*
Loss from operations	(1,744,184	)	(1,443,165	)	(1,802,640	)	(279,766	)
Share-based compensation
expenses	921,610		98,153		102,673		15,935

Non-GAAP loss from operations	(822,574	)	(1,345,012	)	(1,699,967	)	(263,831	)
Net loss	(1,148,761	)	(1,194,569	)	(1,594,801	)	(247,510	)
Fair value gain of convertible
redeemable preferred shares	(637,779	)	—		—		—
Share-based compensation
expenses	921,610		98,153		102,673		15,935

Non-GAAP net loss	(864,930	)	(1,096,416	)	(1,492,128	)	(231,575	)

Net loss attributable to ordinary
shareholders	(2,025,768	)	(1,194,569	)	(1,594,801	)	(247,510	)
Fair value gain of convertible
redeemable preferred shares	(637,779	)	—		—		—
Share-based compensation
expenses	921,610		98,153		102,673		15,935
Accretion on Preferred Shares to
redemption value	877,007		—		—		—

Non-GAAP net loss attributable
to ordinary shareholders of
XPeng Inc.	(864,930	)	(1,096,416	)	(1,492,128	)	(231,575	)

Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share Basic and diluted	799,364,696		1,592,387,877		1,689,885,370		1,689,885,370

Non-GAAP net loss per ordinary share Basic and diluted	(1.08	)	(0.69	)	(0.88	)	(0.14	)

Weighted average number of ADS used in calculating Non-GAAP net loss per share Basic and diluted	399,682,348		796,193,938		844,942,685		844,942,685

Non-GAAP net loss per ADS Basic and diluted	(2.16	)	(1.38	)	(1.77	)	(0.27	)

« Previous Page 1 | 2 | 3 | 4 | 5 Next Page »