Financial Performance - Q4 2022 total revenue was RMB 5.14 billion (USD 750 million), a year-over-year decrease of 39.9% and a quarter-over-quarter decrease of 24.7% [5] - Full-year 2022 total revenue was RMB 26.86 billion (USD 3.89 billion), up 28.0% from RMB 20.99 billion in 2021 [8] - For the fiscal year 2022, total revenue was RMB 26.86 billion (USD 3.89 billion), an increase of 28.0% from RMB 20.99 billion in 2021 [19] - Total revenue for the year ended December 31, 2022, was RMB 5,140,349, equivalent to USD 745,281, showing a decrease from RMB 8,556,008 in 2021 [31] - Total revenue for 2022 was RMB 26,855,119, an increase from RMB 20,988,131 in 2021, representing a growth of approximately 28.5% [34] Vehicle Deliveries - Q4 2022 vehicle deliveries were 22,204 units, down 46.8% year-over-year [5] - Full-year 2022 vehicle deliveries reached 120,757 units, an increase of 23.0% compared to 2021 [8] - The company delivered 11,228 vehicles in the first two months of 2023, with 5,218 in January and 6,010 in February [12] - For Q1 2023, XPeng Motors expects vehicle deliveries to be between 18,000 and 19,000 units, representing a year-over-year decrease of approximately 45.0% to 47.9% [22] Profitability and Loss - Q4 2022 net loss was RMB 2.36 billion (USD 340 million), compared to RMB 1.29 billion in the same quarter of 2021 [5] - For the fiscal year 2022, the net loss was RMB 9.14 billion (USD 1.33 billion), compared to RMB 4.86 billion in the previous year, representing an increase of 87.9% [10] - The operating loss for fiscal year 2022 was RMB 8.71 billion (USD 1.26 billion), compared to RMB 6.58 billion in the previous year [20] - The net loss for fiscal year 2022 was RMB 9.14 billion (USD 1.33 billion), compared to RMB 4.86 billion in 2021 [20] - Net loss attributable to ordinary shareholders for 2022 was RMB 9,138,972, compared to RMB 4,863,096 in 2021, marking an increase of around 88.5% [35] Margins - Q4 2022 gross margin was 8.7%, down 3.3 percentage points year-over-year [5] - Full-year 2022 vehicle gross margin was 9.4%, down from 11.5% in 2021 [8] - The gross margin for fiscal year 2022 was 11.5%, down from 12.5% in the previous year [19] - Vehicle sales revenue for the fiscal year 2022 was RMB 24.84 billion, with a profit margin of 9.4%, down from 11.5% in the previous year [10] Research and Development - R&D expenses in Q4 2022 were RMB 1.23 billion (USD 0.18 billion), a decrease of 15.3% from RMB 1.45 billion in the same quarter of 2021 [16] - R&D expenses for fiscal year 2022 were RMB 5.21 billion (USD 760 million), a 26.8% increase from RMB 4.11 billion in 2021, primarily due to increased personnel costs and expenses related to new model development [20] - Research and development expenses for the year ended December 31, 2022, were RMB (1,230,049), compared to RMB (1,451,389) in 2021, reflecting a decrease of approximately 15.2% [31] Cash and Assets - As of December 31, 2022, cash and cash equivalents, restricted cash, short-term investments, and time deposits totaled RMB 38.25 billion (USD 5.55 billion) [6] - The company reported a total asset increase from RMB 65.65 billion in 2021 to RMB 71.49 billion in 2022, representing an increase of approximately 8.5% [29] - Cash and cash equivalents rose from RMB 11.02 billion in 2021 to RMB 14.61 billion in 2022, marking a growth of about 32.5% [29] - The company’s total current assets decreased from RMB 48.83 billion in 2021 to RMB 43.53 billion in 2022, a decline of approximately 10.5% [29] Company Strategy and Leadership - The company aims to enhance operational efficiency and reduce costs while regaining sales and market share [11] - The appointment of Ms. Wang Fengying as president took effect on January 30, 2023, bringing extensive experience from Great Wall Motors [13] - XPeng Inc. continues to focus on expanding its market presence and developing new technologies to enhance its product offerings [34] Inventory and Liabilities - The company’s inventory increased from RMB 2.66 billion in 2021 to RMB 4.52 billion in 2022, indicating a rise of approximately 69.9% [29] - The total liabilities increased from RMB 23,504,724 in 2021 to RMB 34,580,341 in 2022, representing a growth of approximately 47.2% [30] - The total equity decreased from RMB 42,146,578 in 2021 to RMB 36,910,665 in 2022, a decline of about 12.4% [30]
小鹏汽车(09868) - 2022 Q4 - 季度业绩