Financial Performance - Total vehicle deliveries for Q4 2024 reached 91,507 units, a 52.1% increase compared to 60,158 units in Q4 2023[6] - Q4 2024 total revenue was RMB 16.11 billion (USD 2.21 billion), up 23.4% year-over-year and 59.4% quarter-over-quarter[7] - The automotive gross margin for Q4 2024 was 10.0%, an increase of 5.9 percentage points from 4.1% in Q4 2023[8] - The net loss for Q4 2024 was RMB 1.33 billion (USD 180 million), a slight improvement from RMB 1.35 billion in Q4 2023[8] - The automotive sales revenue for Q4 2024 was RMB 14.67 billion (USD 2.01 billion), a 20.0% increase year-over-year[8] - Total revenue for Q4 2024 reached RMB 16.11 billion (USD 2.21 billion), a 23.4% increase year-over-year from RMB 13.05 billion, and a 59.4% increase from Q3 2024's RMB 10.10 billion[12] - Automotive sales revenue in Q4 2024 was RMB 14.67 billion (USD 2.01 billion), up 20.0% year-over-year from RMB 12.23 billion, and up 66.8% from Q3 2024's RMB 8.80 billion[12] - Q4 2024 service and other revenue was RMB 1.43 billion (USD 0.20 billion), a 74.4% increase year-over-year from RMB 0.82 billion, and a 9.7% increase from Q3 2024's RMB 1.31 billion[12] - For the fiscal year 2024, total revenue was RMB 40.87 billion (USD 5.60 billion), a 33.2% increase from RMB 30.68 billion in the previous year[21] - Fiscal year 2024 automotive sales revenue was RMB 35.83 billion (USD 4.91 billion), a 27.9% increase from RMB 28.01 billion in the previous year[21] - The expected vehicle deliveries for Q1 2025 are between 91,000 and 93,000 units, representing a year-over-year increase of approximately 317.0% to 326.2%[30] - Total revenue for Q1 2025 is projected to be between RMB 15 billion and RMB 15.7 billion, reflecting a year-over-year increase of approximately 129.1% to 139.8%[30] Loss and Expenses - The net loss for the fiscal year 2024 was RMB 5.79 billion (USD 790 million), down from RMB 10.38 billion last year[27] - The non-GAAP net loss for the fiscal year 2024 was RMB 5.55 billion (USD 760 million), compared to RMB 9.44 billion last year[27] - The basic and diluted net loss per American depositary share for the fiscal year 2024 was RMB 6.12 (USD 0.84), down from RMB 11.92 last year[27] - The non-GAAP basic and diluted net loss per American depositary share for the fiscal year 2024 was RMB 5.87 (USD 0.80), compared to RMB 10.85 last year[27] - The operating loss for the fiscal year 2024 was RMB 6.66 billion (USD 910 million), an improvement from RMB 10.89 billion last year[25] - Operating loss for 2023 was RMB 10,889,434, a decrease to RMB 6,658,138 in 2024, representing a 38.5% improvement[57] - Non-GAAP operating loss for 2023 was RMB 10,368,238, reduced to RMB 6,418,728 in 2024, indicating a 38.5% decrease[57] - Net loss for 2023 was RMB 10,375,775, which decreased to RMB 5,790,264 in 2024, reflecting a 44.5% reduction[57] - Non-GAAP net loss for 2023 was RMB 9,444,162, down to RMB 5,550,854 in 2024, showing a 41.5% improvement[57] Cash and Assets - As of December 31, 2024, cash and cash equivalents totaled RMB 41.96 billion (USD 5.75 billion), down from RMB 45.70 billion a year earlier[7] - Cash and cash equivalents stood at RMB 21,127,163 as of December 31, 2023, down from RMB 18,586,274 at the end of 2024[40] - Total assets decreased to RMB 84,162,541 in 2023 from RMB 82,706,105 in 2024, indicating a reduction in overall asset base[43] - Total liabilities increased to RMB 51,431,317 in 2024 from RMB 47,834,014 in 2023, reflecting a rise in financial obligations[43] Strategic Initiatives - The company plans to significantly expand its market share in the smart electric vehicle industry in China and globally[9] - A strategic partnership with Volkswagen Group (China) was announced to develop one of China's largest ultra-fast charging networks[11] - The company aims to launch more strong new products in 2025, enhancing profitability and free cash flow[9] - The company plans to expand its market presence and invest in new technologies to enhance product offerings in the upcoming fiscal year[45] - XPeng Inc. aims to improve operational efficiency and reduce losses through strategic cost management initiatives[45] Research and Development - R&D expenses for Q4 2024 were RMB 2.01 billion (USD 0.27 billion), a 53.4% increase year-over-year from RMB 1.31 billion, and a 22.9% increase from Q3 2024's RMB 1.63 billion[15] - Research and development expenses for Q4 2023 totaled RMB 2,006,463, an increase from RMB 1,633,071 in Q3 2023, indicating continued investment in innovation[45] - Operating expenses for the year were RMB 11,835,516,000, with research and development expenses amounting to RMB 5,276,574,000[52] Earnings Conference - The company plans to hold an earnings conference call on March 18, 2025, to discuss the fourth quarter and fiscal year 2024 results[29] - The company emphasizes the use of non-GAAP financial metrics to provide a clearer understanding of its operational performance and trends[33]
小鹏汽车(09868) - 2024 Q4 - 季度业绩