• XPENG Reports Third Quarter 2023 Unaudited Financial Results

    来源: Nasdaq GlobeNewswire / 15 11月 2023 05:00:01   America/New_York

    • Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB36.48 billion (US$5.00 billion) as of September 30, 2023
    • Quarterly total revenues were RMB8.53 billion, a 68.5% increase quarter-over-quarter
    • Quarterly gross margin was negative 2.7%, an increase of 1.2 percentage points quarter-over-quarter

    GUANGZHOU, China, Nov. 15, 2023 (GLOBE NEWSWIRE) -- XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the three months ended September 30, 2023.

    Operational and Financial Highlights for the Three Months Ended September 30, 2023

     2023Q32023Q22023Q12022Q42022Q32022Q2
    Total deliveries40,00823,20518,23022,20429,57034,422
           


    • Total deliveries of vehicles were 40,008 for the third quarter of 2023, representing an increase of 72.4% from 23,205 for the second quarter of 2023.
    • XPENG’s physical sales network had a total of 395 stores as of September 30, 2023.
    • XPENG self-operated charging station network reached 1,057 stations, including 854 XPENG self-operated supercharging stations and 203 destination charging stations as of September 30, 2023.
    • Total revenues were RMB8.53 billion (US$1.17 billion) for the third quarter of 2023, representing an increase of 25.0% from the same period of 2022, and an increase of 68.5% from the second quarter of 2023.
    • Revenues from vehicle sales were RMB7.84 billion (US$1.08 billion) for the third quarter of 2023, representing an increase of 25.7% from the same period of 2022, and an increase of 77.3% from the second quarter of 2023.
    • Gross margin was negative 2.7% for the third quarter of 2023, compared with 13.5% for the same period of 2022 and negative 3.9% for the second quarter of 2023.
    • Vehicle margin, which is gross profit or loss of vehicle sales as a percentage of vehicle sales revenue, was negative 6.1% for the third quarter of 2023, compared with 11.6% for the same period of 2022 and negative 8.6% for the second quarter of 2023.
    • Fair value loss on derivative liability was RMB0.97 billion (US$0.13 billion) for the third quarter of 2023. This non-cash loss resulted from the fluctuation in the fair value of the forward share purchase agreement, measured through profit or loss, related to the issuance of shares by the Company for strategic minority investment by the Volkswagen Group (“Volkswagen”).
    • Net loss was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023. Excluding share-based compensation expenses and fair value loss on derivative liability, non-GAAP net loss was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.
    • Net loss attributable to ordinary shareholders of XPENG was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023. Excluding share-based compensation expenses and fair value loss on derivative liability, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.
    • Basic and diluted net loss per American depositary share (ADS) were both RMB4.49 (US$0.62) and basic and diluted net loss per ordinary share were both RMB2.25 (US$0.31) for the third quarter of 2023. Each ADS represents two Class A ordinary shares.
    • Non-GAAP basic and diluted net loss per ADS were both RMB3.23 (US$0.44) and non-GAAP basic and diluted net loss per ordinary share were both RMB1.61 (US$0.22) for the third quarter of 2023.
    • Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB36.48 billion (US$5.00 billion) as of September 30, 2023, compared with RMB33.74 billion as of June 30, 2023. Time deposits include restricted short-term deposits, short-term deposits, restricted long-term deposits, current portion and non-current portion of long-term deposits.

    Key Financial Results
    (in RMB billions, except for percentage)

     For the Three Months Ended % Changei
     September 30, June 30, September 30,  
     2023 2023 2022 YoY QoQ 
               
    Vehicle sales7.84 4.42 6.24 25.7% 77.3% 
    Vehicle margin-6.1% -8.6% 11.6% -17.7pts 2.5pts 
    Total revenues8.53 5.06 6.82 25.0% 68.5% 
    Gross (loss) profit(0.23) (0.20) 0.92 -124.7% 15.5% 
    Gross margin-2.7% -3.9% 13.5% -16.2pts 1.2pts 
    Net loss3.89 2.80 2.38 63.6% 38.6% 
    Non-GAAP net loss2.79 2.67 2.22 25.5% 4.5% 
    Net loss attributable to ordinary shareholders3.89 2.80 2.38 63.6% 38.6% 
    Non-GAAP net loss attributable to ordinary shareholders2.79 2.67 2.22 25.5% 4.5% 
    Comprehensive loss attributable to ordinary shareholders4.01 1.93 0.69 481.1% 107.9% 
               
    i. Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented
     

    Management Commentary

    “In 2023, XPENG was the first mover in reaching the inflection point for both the development and mass adoption of ADAS technologies. I believe that over the next five years, ADAS technologies will experience increasing and massive acceptance by consumers. As we lead the nationwide rollout of XNGP, XPENG will become the go-to smart EV brand for customers,” said Mr. He Xiaopeng, Chairman and CEO of XPENG. “In the third quarter of 2023, our business stepped into the initial phase of a virtuous cycle. I am confident that the transformational adjustments we began to implement early this year will yield more positive results in 2024 and beyond, accelerating our virtuous cycle and rapid growth by the fourth quarter of 2024.”

    “XPENG vehicle deliveries have grown for nine consecutive months and our free cash flow has substantially improved,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of XPENG. “Our new products and technology-driven cost controls are expected to result in notable improvements to our gross margin. Leveraging these strengths, we expect even stronger free cash flow in the fourth quarter, marking the starting point of our journey towards long-term scalable profitability.”

    Recent Developments

    Deliveries in October 2023

    • Total deliveries were 20,002 vehicles in October 2023.
    • As of October 31, 2023, year-to-date total deliveries were 101,445 vehicles.

    XPENG 2023 Tech Day

    On October 24, 2023, XPENG hosted its fifth annual 1024 Tech Day in Guangzhou. The Company unveiled its cutting-edge technology roadmap for autonomous driving and mobility ecosystem, including its Smart EVs and robotics.

    ESG Performance

    On October 11, 2023, XPENG announced that Morgan Stanley Capital International (“MSCI”) has upgraded its MSCI ESG Rating for the Company from “AA” to “AAA”, which is MSCI’s highest rating and is given to companies that are leading their industries in managing ESG risks and opportunities.

    Launch of XPENG G9 2024 Edition

    On September 19, 2023, XPENG introduced XPENG G9 2024 Edition and commenced deliveries during the same month.

    Unaudited Financial Results for the Three Months Ended September 30, 2023

    Total revenues were RMB8.53 billion (US$1.17 billion) for the third quarter of 2023, representing an increase of 25.0% from RMB6.82 billion for the same period of 2022 and an increase of 68.5% from RMB5.06 billion for the second quarter of 2023.

    Revenues from vehicle sales were RMB7.84 billion (US$1.08 billion) for the third quarter of 2023, representing an increase of 25.7% from the same period of 2022, and an increase of 77.3% from the second quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly attributable to the accelerating sales growth of the G6 in the third quarter of 2023.

    Revenues from services and others were RMB0.69 billion (US$0.09 billion) for the third quarter of 2023, representing an increase of 17.7% from RMB0.58 billion for the same period of 2022 and an increase of 7.4% from RMB0.64 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly attributable to the increases of maintenance, supercharging and auto financing services sales, which were in line with higher accumulated vehicle sales.

    Cost of sales was RMB8.76 billion (US$1.20 billion) for the third quarter of 2023, representing an increase of 48.4% from RMB5.90 billion for the same period of 2022 and an increase of 66.5% from RMB5.26 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter increases were mainly in line with vehicle deliveries as described above. In addition, the year-over-year increase was attributable to inventory write-downs amounting to RMB0.23 billion related to the model G3i as management lowered its forecasted sales due to stronger-than-expected market demands for newly launched vehicle models.

    Gross margin was negative 2.7% for the third quarter of 2023, compared with 13.5% for the same period of 2022 and negative 3.9% for the second quarter of 2023.

    Vehicle margin was negative 6.1% for the third quarter of 2023, compared with 11.6% for the same period of 2022 and negative 8.6% for the second quarter of 2023. The year-over-year decrease was explained by (i) the inventory write-downs related to the G3i, with a negative impact of 2.9 percentage points on vehicle margin for the third quarter of 2023, and (ii) increased sales promotions, and the expiry of new energy vehicle subsidies. The quarter-over-quarter increase was primarily attributable to the improvement in product mix of models and the cost reduction.

    Research and development expenses were RMB1.31 billion (US$0.18 billion) for the third quarter of 2023, representing a decrease of 12.9% from RMB1.50 billion for the same period of 2022 and a decrease of 4.5% from RMB1.37 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter decreases were mainly in line with timing and progress of new vehicle programs.

    Selling, general and administrative expenses were RMB1.69 billion (US$0.23 billion) for the third quarter of 2023, representing an increase of 4.0% from RMB1.63 billion for the same period of 2022 and an increase of 9.6% from RMB1.54 billion for the second quarter of 2023. The year-over-year and quarter-over-quarter increases were primarily attributable to the higher commission paid to the franchised stores.

    Loss from operations was RMB3.16 billion (US$0.43 billion) for the third quarter of 2023, compared with RMB2.18 billion for the same period of 2022 and RMB3.09 billion for the second quarter of 2023.

    Non-GAAP loss from operations, which excludes share-based compensation expenses, was RMB3.04 billion (US$0.42 billion) for the third quarter of 2023, compared with RMB2.02 billion for the same period of 2022 and RMB2.96 billion for the second quarter of 2023.

    Net loss was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023.

    Fair value loss on derivative liability was RMB0.97 billion (US$0.13 billion) for the third quarter of 2023. This non-cash loss resulted from the fluctuation in the fair value of the forward share purchase agreement, measured through profit or loss, related to the issuance of shares by the Company for strategic minority investment by the Volkswagen Group.

    Non-GAAP net loss, which excludes share-based compensation expenses and fair value loss on derivative liability, was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.

    Net loss attributable to ordinary shareholders of XPENG was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023.

    Non-GAAP net loss attributable to ordinary shareholders of XPENG, which excludes share-based compensation expenses and fair value loss on derivative liability, was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.

    Basic and diluted net loss per ADS were both RMB4.49 (US$0.62) for the third quarter of 2023, compared with RMB2.77 for the third quarter of 2022 and RMB3.25 for the second quarter of 2023.

    Non-GAAP basic and diluted net loss per ADS were both RMB3.23 (US$0.44) for the third quarter of 2023, compared with RMB2.59 for the third quarter of 2022 and RMB3.10 for the second quarter of 2023.

    Balance Sheets

    As of September 30, 2023, the Company had cash and cash equivalents, restricted cash, short-term investments and time deposits of RMB36.48 billion (US$5.00 billion), compared with RMB38.25 billion as of December 31, 2022 and RMB33.74 billion as of June 30, 2023.

    Business Outlook

    For the fourth quarter of 2023, the Company expects:

    • Deliveries of vehicles to be between 59,500 and 63,500, representing a year-over-year increase of approximately 101.2% to 114.7%.
    • Total revenues to be between RMB12.7 billion and RMB13.6 billion, representing a year-over-year increase of approximately 86.1% to 99.3%.

    The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.

    Conference Call

    The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on November 15, 2023 (9:00 PM Beijing/Hong Kong Time on November 15, 2023).

    For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.

    Event Title:XPENG Third Quarter 2023 Earnings Conference Call
    Pre-registration link:https://s1.c-conf.com/diamondpass/10034271-dqxo0v.html
      


    Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.xiaopeng.com.

    A replay of the conference call will be accessible approximately an hour after the conclusion of the call until November 22, 2023, by dialing the following telephone numbers:

    United States:+1-855-883-1031
    International:+61-7-3107-6325
    Hong Kong, China:800-930-639
    Mainland China:400-120-9216
    Replay Access Code:10034271
      


    About     XPENG

    XPENG is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit https://heyXPENG.com.

    Use of Non-GAAP Financial Measures

    The Company uses non-GAAP measures, such as non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic loss per weighted average number of ordinary shares and non-GAAP basic loss per ADS, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and fair value loss on derivative liability, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

    For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and non-GAAP Results” set forth in this announcement.

    Exchange Rate Information

    This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2960 to US$1.00, the exchange rate on September 29, 2023, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPENG’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG’s goal and strategies; XPENG’s expansion plans; XPENG’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPENG’s expectations regarding demand for, and market acceptance of, its products and services; XPENG’s expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG’s filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For Investor Enquiries
    IR Department
    XPeng Inc.
    E-mail: ir@xiaopeng.com

    Jenny Cai
    Piacente Financial Communications
    Tel: +1-212-481-2050 or +86-10-6508-0677
    E-mail: xpeng@tpg-ir.com

    For Media Enquiries
    PR Department
    XPeng Inc.
    E-mail: pr@xiaopeng.com

    Source: XPeng Inc.


     XPENG INC.
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
     
     December 31,  September 30,   September 30,  
     2022  2023   2023 
     RMB   RMB   US$ 
             
    ASSETS        
    Current assets        
    Cash and cash equivalents14,607,774   12,197,669    1,671,830  
    Restricted cash106,272   1,139,599    156,195  
    Short-term deposits14,921,688   12,152,077    1,665,581  
    Restricted short-term deposits-   1,010,000    138,432  
    Short-term investments1,262,129   181,007    24,809  
    Long-term deposits, current portion427,466   4,487,216    615,024  
    Accounts and notes receivable, net3,872,846   3,244,400    444,682  
    Installment payment receivables, net, current portion1,294,665   1,697,592    232,674  
    Inventory4,521,373   5,287,550    724,719  
    Amounts due from related parties47,124   27,867    3,819  
    Prepayments and other current assets2,466,084   2,232,540    305,996  
    Total current assets43,527,421   43,657,517    5,983,761  
    Non-current assets        
    Long-term deposits6,926,450   4,563,512    625,481  
    Restricted long-term deposits-   750,000    102,796  
    Property, plant and equipment, net10,606,745   10,911,466    1,495,541  
    Right-of-use assets, net1,954,618   1,560,903    213,940  
    Intangible assets, net1,042,972   1,040,171    142,567  
    Land use rights, net2,747,854   2,802,005    384,047  
    Installment payment receivables, net2,188,643   2,616,312    358,595  
    Long-term investments2,295,032   2,492,948    341,687  
    Other non-current assets201,271   147,690    20,243  
    Total non-current assets27,963,585   26,885,007    3,684,897  
    Total assets71,491,006   70,542,524    9,668,658  
             


    XPENG INC.
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
    (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
        
     December 31,  September 30,   September 30,  
     2022  2023   2023 
     RMB   RMB   US$ 
        
    LIABILITIES   
    Current liabilities   
    Short-term borrowings2,419,210   4,226,815    579,333  
    Accounts and notes payable14,222,856   16,566,450    2,270,621  
    Amount due to related parties91,111   52,094    7,140  
    Operating lease liabilities, current portion490,811   400,032    54,829  
    Finance lease liabilities, current portion128,279   74,890    10,265  
    Deferred revenue, current portion389,243   536,649    73,554  
    Long-term borrowings, current portion761,859   776,793    106,468  
    Accruals and other liabilities5,583,829   6,671,159    914,358  
    Income taxes payable27,655   13,339    1,828  
    Derivative liability-   972,753    133,327  
    Total current liabilities24,114,853   30,290,974    4,151,723  
    Non-current liabilities        
    Long-term borrowings4,613,057   6,421,177    880,096  
    Operating lease liabilities1,854,576   1,554,029    212,997  
    Finance lease liabilities797,743   780,584    106,988  
    Deferred revenue694,006   678,972    93,061  
    Other non-current liabilities2,506,106   2,022,850    277,255  
    Total non-current liabilities10,465,488   11,457,612    1,570,397  
    Total liabilities34,580,341   41,748,586    5,722,120  
             
    SHAREHOLDERS’ EQUITY   
    Class A Ordinary shares92   92    13  
    Class B Ordinary shares21   21    3  
    Additional paid-in capital60,691,019   61,074,518    8,370,959  
    Statutory and other reserves6,425   25,127    3,444  
    Accumulated deficit(25,330,916)   (34,359,076)   (4,709,303) 
    Accumulated other comprehensive income1,544,024   2,053,256    281,422  
    Total shareholders' equity36,910,665   28,793,938    3,946,538  
    Total liabilities and shareholders’ equity71,491,006   70,542,524    9,668,658  
             


    XPENG INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
      
     Three Months Ended
     September 30,  June 30,  September 30,   September 30,  
     2022   2023   2023   2023  
     RMB  RMB  RMB  US$ 
               
    Revenues          
    Vehicle sales6,241,143  4,424,537   7,844,239    1,075,142  
    Services and others582,344  638,159   685,282    93,926  
    Total revenues6,823,487  5,062,696   8,529,521    1,169,068  
    Cost of sales          
    Vehicle sales(5,514,695)  (4,804,535)   (8,319,890)   (1,140,336) 
    Services and others(385,554)  (455,552)   (437,589)   (59,977) 
    Total cost of sales(5,900,249)  (5,260,087)   (8,757,479)   (1,200,313) 
    Gross profit (loss)923,238  (197,391)   (227,958)   (31,245) 
    Operating expenses          
    Research and development expenses(1,498,550)  (1,367,107)   (1,305,868)   (178,984) 
    Selling, general and administrative expenses(1,626,343)  (1,543,625)   (1,692,194)   (231,934) 
    Total operating expenses(3,124,893)  (2,910,732)   (2,998,062)   (410,918) 
    Other income, net24,824  17,940   65,192    8,935  
    Loss from operations(2,176,831)  (3,090,183)   (3,160,828)   (433,228) 
    Interest income289,954  303,637   314,004    43,038  
    Interest expense(38,968)  (67,007)   (65,767)   (9,014) 
    Fair value loss on derivative assets or derivative liabilities(8,003)  -   (971,832)   (133,201) 
    Fair value gain (loss) on long-term investments129,240  (38,704)   (8,782)   (1,204) 
    Exchange (loss) gain from foreign currency transactions(550,775)  42,663   5,972    819  
    Other non-operating (loss) income, net(2,600)  4,286   4,282    587  
    Loss before income tax expenses and
        share of results of equity method investees    		(2,357,983)  (2,845,308)   (3,882,951)   (532,203) 
    Income tax expenses(21,017)  (8,217)   (682)   (93) 
    Share of results of equity method investees2,852  48,873   (2,917)   (400) 
    Net loss(2,376,148)  (2,804,652)   (3,886,550)   (532,696) 
    Net loss attributable to ordinary
        shareholders of XPeng Inc.    		(2,376,148)  (2,804,652)   (3,886,550)   (532,696) 
                


    XPENG INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED)
    (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
      
     Three Months Ended
     September 30,  June 30,  September 30,   September 30,  
     2022  2023  2023  2023 
     RMB  RMB  RMB  US$ 
            
    Net loss(2,376,148)  (2,804,652)   (3,886,550)   (532,696) 
    Other comprehensive income (loss)       
    Foreign currency translation adjustment, net of tax1,686,156  876,266   (123,081)   (16,870) 
    Total comprehensive loss
        attributable to XPeng Inc.    		(689,992)  (1,928,386)   (4,009,631)   (549,566) 
    Comprehensive loss attributable to
        ordinary shareholders of XPeng Inc.    		(689,992)  (1,928,386)   (4,009,631)   (549,566) 
            
    Weighted average number of ordinary
        shares used in computing net loss per
        ordinary share    		       
    Basic and diluted1,718,162,864  1,723,369,664   1,729,980,347    1,729,980,347  
    Net loss per ordinary share attributable
        to ordinary shareholders    		       
    Basic and diluted(1.38)  (1.63)   (2.25)   (0.31) 
            
    Weighted average number of ADS used
        in computing net loss per share    		       
    Basic and diluted859,081,432  861,684,832   864,990,174    864,990,174  
    Net loss per ADS attributable to
        ordinary shareholders    		       
    Basic and diluted(2.77)  (3.25)   (4.49)   (0.62) 
                


    XPENG INC.
    UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
      
     Three Months Ended
     September 30,  June 30,  September 30,   September 30,  
     2022  2023  2023  2023 
     RMB  RMB  RMB  US$ 
            
    Loss from operations(2,176,831)  (3,090,183)   (3,160,828)   (433,228) 
    Share-based compensation expenses152,695  134,570   124,291    17,035  
    Non-GAAP loss from operations(2,024,136)  (2,955,613)   (3,036,537)   (416,193) 
    Net loss(2,376,148)  (2,804,652)   (3,886,550)   (532,696) 
    Fair value loss on derivative liability-  -   971,832    133,201  
    Share-based compensation expenses152,695  134,570   124,291    17,035  
    Non-GAAP net loss(2,223,453)  (2,670,082)   (2,790,427)   (382,460) 
    Net loss attributable to ordinary shareholders(2,376,148)  (2,804,652)   (3,886,550)   (532,696) 
    Fair value loss on derivative liability-  -   971,832    133,201  
    Share-based compensation expenses152,695  134,570   124,291    17,035  
    Non-GAAP net loss attributable to
        ordinary shareholders of XPeng Inc.    		(2,223,453)  (2,670,082)   (2,790,427)   (382,460) 
    Weighted average number of ordinary
        shares used in calculating Non-GAAP net loss per share     		       
    Basic and diluted1,718,162,864  1,723,369,664   1,729,980,347    1,729,980,347  
    Non-GAAP net loss per ordinary share        
    Basic and diluted(1.29)  (1.55)   (1.61)   (0.22) 
    Weighted average number of ADS used
        in calculating Non-GAAP net loss per share    		       
    Basic and diluted859,081,432  861,684,832   864,990,174    864,990,174  
    Non-GAAP net loss per ADS       
    Basic and diluted(2.59)  (3.10)   (3.23)   (0.44) 
                

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