Financial Performance - Total revenue for Q1 2022 reached RMB 7,454.9 million, an increase of 152.6% year-over-year[4] - Total vehicle deliveries for Q1 2022 amounted to 34,561 units, up 159% compared to 13,340 units in Q1 2021[2] - Vehicle sales revenue for Q1 2022 was RMB 6,998.8 million, a 149.0% increase year-over-year[4] - Total revenue for Q1 2022 was RMB 7,454.9 million (USD 1,176.0 million), an increase of 152.6% year-over-year but a decrease of 12.9% quarter-over-quarter[10] - Automotive sales revenue for Q1 2022 was RMB 6,998.8 million (USD 1,104.0 million), up 149.0% year-over-year and down 14.5% quarter-over-quarter[10] - Service and other revenue for Q1 2022 was RMB 456.1 million (USD 72.0 million), a year-over-year increase of 224.5% and a quarter-over-quarter increase of 23.7%[10] - Gross margin for Q1 2022 was 12.2%, an increase of 100 basis points year-over-year[4] - Gross margin for Q1 2022 was 12.2%, compared to 11.2% in Q1 2021 and 12.0% in Q4 2021[11] - Net loss for Q1 2022 was RMB 1,700.8 million, compared to RMB 786.6 million in Q1 2021, representing a 116.2% increase[5] - Operating loss for Q1 2022 was RMB 1,920.5 million (USD 302.9 million), compared to RMB 903.9 million in Q1 2021 and RMB 2,429.7 million in Q4 2021[13] - Net loss for Q1 2022 was RMB 1,700.8 million (USD 268.3 million), compared to RMB 786.6 million in Q1 2021 and RMB 1,287.2 million in Q4 2021[14] - Total liabilities increased to RMB 26,464,349 as of March 31, 2022, up from RMB 23,504,724 as of December 31, 2021[28] - Total equity decreased to RMB 40,520,038 as of March 31, 2022, down from RMB 42,146,578 as of December 31, 2021[28] Deliveries and Production - In April 2022, total deliveries reached 9,002 units, a year-over-year increase of 75%[9] - The P7 model delivered 19,427 units in Q1 2022, a 144% increase from 7,974 units in Q1 2021[3] - The P5 model, launched in October 2021, achieved deliveries of 10,486 units in Q1 2022, with over 50% supporting XPILOT 3.0 or 3.5[3] - The company expects vehicle deliveries for Q2 2022 to be between 31,000 and 34,000 units, representing a year-over-year growth of approximately 78.2% to 95.4%[16] Cash and Assets - As of March 31, 2022, the cash and cash equivalents totaled RMB 41,714.0 million, down from RMB 43,543.9 million as of December 31, 2021[6] - The company reported cash and cash equivalents of RMB 9,320,455 thousand as of March 31, 2022, down from RMB 11,024,906 thousand as of December 31, 2021, representing a decrease of approximately 15.4%[27] - Total assets increased to RMB 66,984,387 thousand as of March 31, 2022, compared to RMB 65,651,302 thousand as of December 31, 2021, reflecting a growth of about 2.0%[27] - The company’s inventory rose significantly to RMB 3,670,513 thousand as of March 31, 2022, up from RMB 2,661,921 thousand as of December 31, 2021, indicating an increase of approximately 37.8%[27] - Non-current assets totaled RMB 20,961,540 thousand as of March 31, 2022, compared to RMB 16,820,566 thousand as of December 31, 2021, marking an increase of around 24.5%[27] - The company’s short-term investments decreased to RMB 2,160,274 thousand as of March 31, 2022, from RMB 2,833,763 thousand as of December 31, 2021, a decline of approximately 23.7%[27] - The company’s total current assets were reported at RMB 46,022,847 thousand as of March 31, 2022, down from RMB 48,830,736 thousand as of December 31, 2021, a decrease of about 5.8%[27] - The company’s long-term investments increased to RMB 1,645,034 thousand as of March 31, 2022, from RMB 1,549,176 thousand as of December 31, 2021, reflecting a growth of approximately 6.2%[27] Research and Development - R&D expenses for Q1 2022 were RMB 1,221.3 million (USD 192.7 million), an increase of 128.2% year-over-year and a decrease of 15.9% quarter-over-quarter[11] - The company plans to continue investing in R&D and expanding its market presence despite the current losses[29] - The company plans to develop a full-scenario intelligent driving assistance system to enhance accessibility and performance for customers[8] Financial Metrics and Reporting - The company emphasized the importance of non-GAAP financial metrics in assessing operational performance and future prospects, although these metrics are not in accordance with GAAP[21] - The company highlighted the potential trends in its business through the use of non-GAAP financial indicators, which are believed to provide a clearer understanding of past performance and future outlook[21] - The company noted that the exchange rate used for converting RMB to USD was 6.3393, as of March 31, 2022, for financial reporting purposes[23] Quarterly Comparisons - Total revenue for Q1 2022 was RMB 7,454,938, a decrease of 12.8% compared to RMB 8,556,008 in Q4 2021[29] - Vehicle sales revenue for Q1 2022 was RMB 6,998,815, representing a decline from RMB 8,187,181 in Q4 2021[29] - Gross profit for Q1 2022 was RMB 910,729, down from RMB 1,023,310 in Q4 2021, indicating a gross margin of approximately 12.2%[29] - Operating loss for Q1 2022 was RMB 1,920,465, compared to RMB 2,429,667 in Q4 2021, showing an improvement in operational efficiency[29] - Net loss attributable to ordinary shareholders for Q1 2022 was RMB 1,700,767, compared to RMB 1,287,165 in Q4 2021[29] - The weighted average number of ordinary shares for Q1 2022 was 1,702,708,311, compared to 1,700,956,007 in Q4 2021[30]
小鹏汽车-W(09868) - 2022 Q1 - 季度财报