零跑汽车(09863) - 2022 - 年度业绩

Financial Performance - Total vehicle deliveries in 2022 reached 111,168 units, an increase of 154.1% compared to 43,748 units in 2021[3] - Revenue for 2022 was RMB 12,384.6 million, representing a 295.4% increase from 2021[4] - The gross margin for 2022 improved to (15.4%) from (44.3%) in 2021[4] - Net loss for 2022 was RMB 5,108.9 million, compared to RMB 2,845.8 million in 2021[4] - The gross loss for the year was RMB 1,911.32 million, up from a gross loss of RMB 1,387.63 million in the previous year, indicating a deterioration in profitability[44] - Operating loss increased to RMB 5,226.80 million from RMB 2,868.32 million year-on-year, reflecting ongoing challenges in operational efficiency[44] - The net loss attributable to equity holders for the year was RMB 5,108.89 million, compared to RMB 2,845.77 million in 2021, marking a substantial increase in losses[44] - Total expenses for the year were RMB 17,662,277,000, compared to RMB 6,085,870,000 in 2021, indicating an increase of approximately 190%[62] Sales and Deliveries - The C11 model delivered 44,371 units in 2022, a staggering increase of 1,019.1% from 3,965 units in 2021[5] - Electric vehicle and component sales amounted to RMB 12,378.0 million in 2022, up 304.7% from RMB 3,058.8 million in 2021, with deliveries increasing from 43,748 units in 2021 to 111,168 units in 2022[14] - The company launched the C01 model in September 2022, which features the innovative CTC technology[11] Cash and Liquidity - As of December 31, 2022, cash and cash equivalents totaled RMB 9,781.9 million, a 40.3% increase from RMB 6,974.1 million as of December 31, 2021[20] - Free cash flow for 2022 was RMB (3,817.9) million, an increase of 50.1% from RMB (2,544.1) million in 2021[21] - Cash and cash equivalents increased to RMB 6,948.99 million from RMB 4,337.97 million, showing improved liquidity position[45] Research and Development - Research and development expenses rose to RMB 1,410.6 million in 2022, a 90.6% increase from RMB 740.0 million in 2021, driven by an increase in R&D personnel[17] - The company has been engaged in the production, research, and development of new energy vehicles since its establishment in December 2015, indicating a focus on innovation in the automotive sector[50] Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 19,267.85 million, up from RMB 12,526.48 million in 2021, indicating growth in asset base[45] - Non-current liabilities rose to RMB 1,751.61 million from RMB 966.74 million, indicating increased financial obligations[46] - Current liabilities surged to RMB 5,986.76 million from RMB 2,596.11 million, highlighting a significant increase in short-term financial commitments[46] Employee and Operational Metrics - The company employed 8,336 full-time employees as of December 31, 2022, with 50.3% in manufacturing and 26.3% in research and development[35] - The company operates primarily in the production, research and development, and sales of new energy vehicles in China, considering it as a single operating segment for strategic decision-making[55] Future Outlook and Plans - A new vehicle model based on a new platform is set to be launched in the second half of 2023, incorporating the latest R&D achievements[10] - The company plans to adopt several new accounting standards effective from January 1, 2023, which may impact future financial reporting[53] - The group plans to launch more pure electric and extended-range vehicle models in the coming years to meet diverse user needs[93] Compliance and Governance - The company maintained compliance with corporate governance codes, although it did not separate the roles of Chairman and CEO, which the board believes aids in effective decision-making[39] - The group has maintained compliance with all loan covenants and is not subject to significant financial covenants[88] Market Expansion - The company entered the global market by opening its first overseas stores in Israel in November 2022[8] - As of December 31, 2022, the sales network expanded to 582 stores covering 180 cities[6] Financial Management - The company raised RMB 5,687,687 thousand from issuing H shares during its global offering, contributing to a net cash inflow from financing activities of RMB 6,355,410 thousand for the year[49] - The group has unused tax losses of approximately RMB 9,023,285,000 as of December 31, 2022, compared to RMB 4,567,379,000 in 2021, which can be carried forward to future taxable income[68]