Financial Performance - Total revenue for Q3 2022 reached RMB 6.82 billion (USD 960 million), an increase of 19.3% year-over-year, but a decrease of 8.2% quarter-over-quarter [4] - Net loss for Q3 2022 was RMB 2.38 billion (USD 330 million), compared to RMB 1.59 billion in Q3 2021 [5] - The gross margin for Q3 2022 was 13.5%, down 0.9 percentage points from 14.4% in Q3 2021 [4] - The average vehicle profit margin for Q3 2022 was 11.6%, compared to 13.6% in Q3 2021 [4] - Operating loss for Q3 2022 was RMB 2.18 billion (USD 310 million), compared to RMB 1.80 billion in Q3 2021 and RMB 2.09 billion in Q2 2022 [13] - The company reported a gross profit of RMB 923,238 for Q3 2022, compared to RMB 820,824 in Q3 2021, which is an increase of approximately 12.5% [29] - The net loss for Q3 2022 was RMB 2,376,148, compared to a net loss of RMB 1,594,801 in Q3 2021, indicating a deterioration in financial performance [33] - The company reported a significant increase in share-based compensation expenses, contributing to the overall net loss figures [34] Vehicle Deliveries and Sales - Total vehicle deliveries in Q3 2022 were 29,570 units, up 15% from 25,666 units in Q3 2021 [2] - The vehicle sales revenue for Q3 2022 was RMB 6.24 billion (USD 880 million), a 14.3% increase year-over-year [7] - In October 2022, total deliveries reached 5,101 units, including 2,104 P7s and 1,665 P5s [9] - Cumulative total deliveries for the year as of October 31, 2022, reached 103,654 units, representing a 56% year-over-year growth [9] Revenue Breakdown - Automotive sales revenue for Q3 2022 was RMB 6.24 billion (USD 880 million), up 14.3% year-over-year but down 10.1% quarter-over-quarter [11] - Service and other revenue for Q3 2022 was RMB 580 million (USD 80 million), a significant increase of 124.1% year-over-year and 17.0% quarter-over-quarter [12] - Total revenue for Q4 2022 is projected to be between RMB 4.8 billion and RMB 5.1 billion, a year-over-year decrease of approximately 40.4% to 43.9% [18] Cash and Assets - As of September 30, 2022, cash and cash equivalents, restricted cash, short-term investments, and time deposits totaled RMB 40.12 billion (USD 5.64 billion) [6] - Cash and cash equivalents as of September 30, 2022, totaled RMB 40.12 billion (USD 5.64 billion), down from RMB 43.54 billion at the end of 2021 [16] - The total current assets decreased to RMB 43,939,892 thousand as of September 30, 2022, down from RMB 48,830,736 thousand as of December 31, 2021, representing a decline of approximately 10% [27] - The company’s inventory increased significantly to RMB 4,378,007 thousand as of September 30, 2022, compared to RMB 2,661,921 thousand as of December 31, 2021, reflecting a growth of approximately 64% [27] - Non-current assets rose to RMB 27,850,250 thousand as of September 30, 2022, up from RMB 16,820,566 thousand as of December 31, 2021, indicating an increase of about 65% [27] - The total assets of XPeng Inc. reached RMB 71,790,142 thousand as of September 30, 2022, compared to RMB 65,651,302 thousand as of December 31, 2021, marking an increase of approximately 9% [27] Future Outlook - For Q4 2022, the company expects vehicle deliveries to be between 20,000 and 21,000 units, representing a year-over-year decrease of approximately 49.7% to 52.1% [18] - The company emphasized the importance of non-GAAP financial metrics to identify business trends and enhance understanding of past performance and future outlook [21] - XPeng Inc. is actively investing in new product development and market expansion to enhance its competitive position in the EV sector [34] Strategic Initiatives - XPeng Inc. has developed its own full-stack intelligent driving technology and in-car operating system to optimize customer travel experiences [20] - The company is focused on expanding its market presence and enhancing its product offerings through technology-driven innovations [24] - XPeng Inc. has a strategic plan to strengthen relationships with customers, contract manufacturers, suppliers, and other stakeholders to support its growth objectives [24]
小鹏汽车-W(09868) - 2022 Q3 - 季度财报