Financial Performance - Total vehicle deliveries for the six months ended June 30, 2022, reached 68,983 units, an increase of 124% compared to 30,738 units for the same period in 2021[1]. - Total revenue for the six months ended June 30, 2022, was RMB 14,891.3 million, up 121.9% from RMB 6,712.2 million for the same period in 2021[2]. - Vehicle sales revenue for the six months ended June 30, 2022, was RMB 13,937.3 million, an increase of 118.0% compared to RMB 6,394.7 million for the same period in 2021[2]. - The company reported a significant increase in service and other income, reaching RMB 954.0 million, up 200.5% from RMB 317.5 million for the same period in 2021[7]. - The net loss for the six months ended June 30, 2022, was RMB 4,401.6 million, compared to RMB 1,981.1 million for the same period in 2021[4]. - The basic and diluted loss per American depositary share for the six months ended June 30, 2022, was RMB 5.16, compared to RMB 2.49 for the same period in 2021, indicating a 107.2% increase[11]. - The total comprehensive loss attributable to XPeng Inc. for the six months ended June 30, 2022, was RMB 2,577,160 thousand, compared to RMB 2,304,161 thousand in 2021, indicating an increase of approximately 11.8%[34]. - The net loss for the six months ended June 30, 2022, was RMB 4,401,649 thousand, compared to a net loss of RMB 1,981,130 thousand for the same period in 2021, representing an increase in loss of approximately 122%[34]. Research and Development - Research and development expenses for the six months ended June 30, 2022, were RMB 2,486.2 million, an increase of 77.8% from RMB 1,398.6 million for the same period in 2021[8]. - Research and development expenses for the six months ended June 30, 2022, amounted to RMB 2,486,237, an increase from RMB 1,398,638 for the same period in 2021[97]. - Research and development payables increased to RMB 1,059,620 from RMB 939,488, reflecting a growth of 12.8%[149]. Cash and Liquidity - As of June 30, 2022, the total cash and cash equivalents, restricted cash, short-term deposits, and short-term investments amounted to approximately RMB 41,337.9 million, down from RMB 43,534.0 million as of December 31, 2021[13]. - The net cash used in operating activities for the six months ended June 30, 2022, was approximately RMB 2,286.3 million, compared to RMB 2,562.5 million for the same period in 2021, showing a decrease of about 10.7%[12]. - The company has a cash and cash equivalents balance of approximately RMB 32,608,110 as of June 30, 2022, which is deemed sufficient to meet operational funding needs for the next twelve months[56]. - Cash and cash equivalents as of June 30, 2022, were RMB 9,012,419, down from RMB 11,024,906 at the end of 2021[29]. - Cash generated from financing activities was RMB 1,723,814 thousand, an increase from RMB 1,409,745 thousand in the same period last year[40]. Inventory and Assets - The company reported a significant increase in inventory, which reached RMB 4,239,617, compared to RMB 2,661,921 in the previous year[29]. - Total assets increased to RMB 69,281,236 as of June 30, 2022, compared to RMB 65,651,302 at the end of 2021[31]. - Total liabilities rose to RMB 29,302,810, up from RMB 23,504,724 at the end of 2021, indicating increased leverage[30]. - The net value of machinery and equipment reached RMB 1,374,627 thousand as of June 30, 2022, an increase from RMB 1,123,512 thousand as of December 31, 2021[124]. - Total intangible assets amounted to RMB 956,499 thousand as of June 30, 2022, an increase from RMB 936,066 thousand as of December 31, 2021[126]. Financing and Debt - The company secured a credit facility of up to RMB 1,600.0 million from Zhaoqing High-tech Zone for the construction of its manufacturing facility, with an outstanding balance of RMB 100.0 million as of June 30, 2022[14]. - Long-term borrowings increased to RMB 2,610,246, up from RMB 1,675,106 at the end of 2021, reflecting the company's financing strategy[30]. - As of June 30, 2022, the company had total borrowings of RMB 3,406,927, significantly higher than RMB 1,675,106 as of December 31, 2021, representing a growth of 103.6%[152]. - The company confirmed interest subsidies from local governments to reduce capitalized interest expenses related to the construction of manufacturing plants[155]. - The company has not violated any financial covenants related to its credit facilities as of June 30, 2022[156]. Shareholder Information - The company reported a basic and diluted loss per share of RMB (2.58) for the six months ended June 30, 2022, compared to RMB (1.25) for the same period in 2021, reflecting a deterioration in per-share performance[178]. - The weighted average number of ordinary shares outstanding for basic and diluted loss per share was 1,705,649,044 for the six months ended June 30, 2022, compared to 1,589,568,703 for the same period in 2021, indicating an increase of about 7.3%[178]. - The company issued 7,885,864 Class A ordinary shares during the six months ended June 30, 2022, of which 1,555,380 shares were transferred to employees as restricted stock units[171]. - As of June 30, 2022, the company had issued a total of 1,310,797,056 Class A ordinary shares, with 1,298,776,088 shares in circulation[172]. Government Subsidies and Income - Government subsidies recognized as other income amounted to RMB 60,987 thousand and RMB 24,707 thousand for the six months ended June 30, 2022, and 2021, respectively[101]. - The company confirmed subsidies from local governments to reduce capitalized interest expenses related to the construction of its Wuhan manufacturing facility[16]. Operational Commitments - The company had capital commitments of RMB 2,115.6 million for property, plant, and equipment purchases as of June 30, 2022[21]. - The company has capital commitments of RMB 2,786,774, an increase of 120.0% from RMB 1,261,759 as of December 31, 2021[185]. Employee and Management Information - The total number of employees as of June 30, 2022, was 13,955, with 5,554 in R&D and 5,679 in sales and marketing[24]. - The company reported a total management compensation of RMB 124,585 for the six months ended June 30, 2022, compared to RMB 39,444 for the same period in 2021, reflecting a significant increase of 215.5%[184]. Accounting and Financial Reporting - The unaudited condensed consolidated financial statements are prepared in accordance with US GAAP, reflecting the financial position as of June 30, 2022, and the operating results for the six months ended June 30, 2022, and 2021[57]. - The company reports in Renminbi (RMB), while its subsidiaries in various regions use USD or local currencies as their functional currencies[60]. - The company recognizes revenue from electric vehicle sales and related services, with multiple performance obligations outlined in sales contracts, including free battery charging for 4 years or 100,000 kilometers and lifetime warranty services[84].
小鹏汽车(09868) - 2022 - 中期财报