零跑汽车(09863) - 2023 - 年度业绩

Financial Performance - Total vehicle deliveries for 2023 reached 144,155 units, an increase of 29.7% compared to 111,168 units in 2022[4] - Revenue for 2023 was RMB 16,746.7 million, representing a 35.2% increase from RMB 12,396.5 million in 2022[11] - The gross margin for 2023 was 0.5%, a significant improvement from 15.4% in 2022[7] - The net loss for 2023 was RMB 4,216.3 million, reduced from RMB 5,108.9 million in 2022[7] - Operating cash flow for 2023 was RMB 1,081.6 million, a turnaround from a cash outflow of RMB 2,399.8 million in 2022[7] - Gross profit turned positive at RMB 80.5 million in 2023, compared to a gross loss of RMB 1,911.3 million in 2022, with a gross margin improvement from (15.4%) in 2022 to 0.5% in 2023[30] - Operating loss decreased to RMB 4,377.4 million in 2023 from RMB 5,226.8 million in 2022, primarily due to improved business performance and increased revenue[35] - The total net loss for the year ended December 31, 2023, was RMB (4,216,274) thousand, compared to RMB (5,108,886) thousand in 2022, indicating a decrease of about 17%[54] - The adjusted net loss for the year ended December 31, 2023, was RMB (3,518,483) thousand, an improvement from RMB (4,565,509) thousand in 2022, representing a reduction of approximately 23%[54] Vehicle Deliveries and Models - The C11 model delivered 80,708 units in 2023, an increase of 81.9% from 44,371 units in 2022[5] - The C01 model saw deliveries of 24,993 units, a remarkable increase of 419.1% from 4,815 units in 2022[5] - The company has launched four pure electric vehicle models, including the T03, C11, C01, and C10, as part of its dual-power strategy initiated in 2023[125] Strategic Partnerships and Expansion - The company plans to launch its brand of electric vehicles in Europe in 2024 as part of a global strategy with Stellantis[9] - The company has established a partnership with Stellantis to create a joint venture named "Leapmotor International" for overseas sales[9] - The company established a global strategic partnership with Stellantis on October 26, 2023, involving the issuance of 194,260,030 H-shares, representing 14.53% of the company's expanded share capital[18] Research and Development - Research and development expenses increased by 36.1% to RMB 1,919.8 million in 2023 from RMB 1,410.6 million in 2022, due to increased investment in R&D activities and a rise in the number of R&D personnel[34] - The company upgraded its technology architecture from LEAP1.0 to LEAP3.0, set to be officially released on January 10, 2024, featuring industry-first technologies[21] - The company completed six OTA upgrades in 2023, enhancing user experience with over 100 new features[20] Cash Flow and Financial Position - As of December 31, 2023, cash and cash equivalents totaled RMB 19,388.1 million, a 98.2% increase from RMB 9,781.9 million at the end of 2022[40] - Free cash flow improved significantly to RMB (322.7) million in 2023 from RMB (3,817.9) million in 2022, an increase of RMB 3,495.2 million[41] - Total borrowings increased to RMB 2,473.0 million as of December 31, 2023, from RMB 1,791.8 million at the end of 2022[43] - The company reported a net cash inflow from operating activities of RMB 1,081,571 thousand, a turnaround from a cash outflow of RMB 2,399,765 thousand in 2022[75] Employee and Operational Metrics - The company had 9,314 full-time employees as of December 31, 2023, with 48.72% in manufacturing, 31.45% in R&D, and 13.68% in sales and marketing[57] - Employee welfare expenses for the reporting period amounted to approximately RMB 3,478.6 million[57] - The company has adopted a competitive compensation package and a vibrant work environment to encourage employee initiative[58] Market and Sales Performance - Sales revenue from electric vehicles and components was RMB 16,732.8 million in 2023, up 35.2% from RMB 12,378.0 million in 2022, with the number of delivered electric vehicles increasing from 111,168 in 2022 to 144,155 in 2023[28] - The company exported RMB 104,001,000 worth of electric vehicles and components outside mainland China in 2023, up from RMB 81,165,000 in 2022, an increase of 28.0%[91] - The company’s total revenue from mainland China was RMB 16,642,688,000 in 2023, up from RMB 12,303,465,000 in 2022, representing a growth of 35.5%[91] Expenses and Liabilities - The total expenses for the year ended December 31, 2023, amounted to RMB 21,238,714,000, an increase of 20.4% from RMB 17,662,277,000 in 2022[97] - The cost of raw materials and consumables used was RMB 15,285,027,000, up from RMB 13,736,948,000 in 2022, reflecting an increase of 11.3%[97] - Trade payables for materials amounted to RMB 5,057,648,000 in 2023, a significant increase from RMB 2,345,688,000 in 2022, reflecting a growth of 115.0%[120] Future Outlook - The company plans to hold an earnings conference call on March 25, 2024, to discuss its annual performance for the year ending December 31, 2023[124] - The company is focused on maximizing user value and providing exceptional experiences through continuous technological innovation[125] - The company is committed to developing core components for new energy vehicles and providing cloud-based IoT solutions[125]