Financial Performance - Total vehicle deliveries for 2024 reached 190,068 units, an increase of approximately 34.2% compared to 141,601 units in 2023[4]. - Total revenue for the fiscal year 2024 was RMB 40.87 billion, up 33.2% from RMB 30.68 billion in 2023[9]. - Vehicle sales revenue for fiscal year 2024 was RMB 35.83 billion, a 27.9% increase from RMB 28.01 billion in 2023[9]. - Gross margin for fiscal year 2024 improved to 14.3%, compared to 1.5% in the previous year[10]. - The net loss for fiscal year 2024 was RMB 5.79 billion, down from RMB 10.38 billion in 2023[6]. - The operating loss for the fiscal year 2024 was RMB 6.66 billion, compared to RMB 10.89 billion in the previous year[13]. - The cumulative loss as of December 31, 2024, reached RMB 41.59 billion, with a net cash outflow from operating activities of approximately RMB 2.01 billion for the fiscal year 2024[18]. - XPeng Inc. reported total revenue of RMB 40,866,309 thousand for the year ended December 31, 2024, representing a 33.3% increase from RMB 30,676,067 thousand in 2023[64]. - The company achieved a gross profit of RMB 5,845,768 thousand in 2024, compared to RMB 451,155 thousand in 2023, indicating a significant improvement in profitability[64]. - XPeng Inc. recorded a net loss of RMB 5,790,264 thousand for 2024, a reduction of 44.5% from the net loss of RMB 10,375,775 thousand in 2023[66]. - The company’s operating loss improved to RMB 6,658,138 thousand in 2024 from RMB 10,889,434 thousand in 2023, showcasing operational efficiency gains[64]. - Basic and diluted loss per share for 2024 was RMB (3.06), compared to RMB (5.96) in 2023, reflecting a significant decrease in loss per share[85]. - Non-GAAP operating loss improved to RMB (6,418,728) thousand in 2024 compared to RMB (10,368,238) thousand in 2023, a reduction of 38.9%[96]. Research and Development - Research and development expenses for fiscal year 2024 were RMB 6.46 billion, an increase of 22.4% from RMB 5.28 billion in 2023[10]. - Research and development expenses increased to RMB 6,456,734 thousand in 2024, up from RMB 5,276,574 thousand in 2023, reflecting the company's commitment to innovation[64]. Cash and Liquidity - As of December 31, 2024, the cash and cash equivalents totaled RMB 41.96 billion, down from RMB 45.70 billion in 2023[6]. - The total cash and cash equivalents, restricted cash, short-term investments, and time deposits as of December 31, 2024, amounted to RMB 41.96 billion, a decrease from RMB 45.70 billion as of December 31, 2023[15]. - The company's cash and cash equivalents stood at RMB 18,586,274 thousand at the end of 2024, a decrease from RMB 21,127,163 thousand in 2023[68]. Debt and Liabilities - As of December 31, 2024, the total short-term bank loans amounted to RMB 4.61 billion, with an effective annual interest rate of 2.24%[21]. - The total secured borrowings from multiple banks as of December 31, 2024, was RMB 6.62 billion, compared to RMB 6.50 billion as of December 31, 2023[23]. - XPeng Inc. reported a total liability of RMB 51,431,317 thousand as of December 31, 2024, compared to RMB 47,834,014 thousand in 2023, indicating an increase in financial obligations[72]. - The total amount of bank loans and other borrowings as of December 31, 2024, were valued in RMB, with no covenant breaches reported[29]. - The leverage ratio as of December 31, 2024, was 38.8%, up from 30.0% as of December 31, 2023[31]. Employee and Corporate Governance - The total number of employees as of December 31, 2024, was 15,364, with 6,200 in R&D, 4,888 in sales and marketing, and 3,702 in production[40]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with all relevant provisions during the reporting period[46][47]. - The board of directors does not recommend the distribution of a final dividend for the year ending December 31, 2024[53]. Future Outlook - The company plans to launch more strong new products in 2025, aiming to improve profitability and free cash flow[5]. - The projected vehicle deliveries for Q1 2025 are expected to be between 91,000 and 93,000 units, representing an annual increase of approximately 317.0% to 326.2%[17]. - Total revenue for Q1 2025 is anticipated to be between RMB 15 billion and RMB 15.7 billion, reflecting an annual increase of approximately 129.1% to 139.8%[17]. - XPeng Inc. plans to continue expanding its market presence and investing in new technologies to enhance its product offerings and customer experience[63]. Other Information - The company emphasizes the use of non-GAAP financial metrics to assess operational performance, which helps identify potential business trends[58]. - The company is committed to sustainable growth and creating value for its shareholders[56]. - The company is a leading smart electric vehicle manufacturer in China, focusing on technology-driven transformation in the automotive industry[57]. - The company will publish its annual report, containing all required information, at an appropriate time for shareholders[54]. - The audit committee has reviewed the unaudited consolidated financial statements for the year ending December 31, 2024, ensuring effective internal controls[52]. - The company has not reported any significant events affecting the group since December 31, 2024, up to the date of this announcement[49].
小鹏汽车-W(09868) - 2024 - 年度业绩