XPeng Releases Unaudited Financial Results for the Second Quarter of 2021

XPeng Releases Unaudited Financial Results

XPeng Releases Unaudited Financial Results

August 26, 2021, GUANGZHOU, CHINA— (PRESS RELEASE) — XPeng Inc. (NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle ("Smart EV") firm, today released its unaudited financial results for the three months ended June 30, 2021.Highlights of Operations and Finance for the Three Months Ended June 30, 2021:Vehicle deliveries totaled 17,398 in the second quarter of 2021, a new quarterly high, up 439 percent from 3,228 in the same time of 2020 and up 30.4 percent from 13,340 in the first quarter of 2021.

The P71 received 11,522 deliveries in the second quarter of 2021, a new quarterly high and a 44.5 percent increase over the first quarter's 7,974 deliveries.97 percent of the P7s shipped in the second quarter of 2021 are capable of running XPILOT 2.5 or 3.0.XPeng's physical sales and service network had 200 outlets and 64 service facilities as of June 30, 2021, covering 74 cities.The number of XPeng-branded super charging stations have grown to 231, encompassing 65 cities as of June 30, 2021.For the second quarter of 2021, total revenues were RMB3,761.3 million (US$582.5 million), up 536.7 percent from RMB590.8 million in the same period of 2020 and up 27.5 percent from RMB2,950.9 million in the first quarter of 2021.

Revenues from vehicle sales totaled RMB3,584.4 million (US$555.1 million) in the second quarter of 2021, up 562.4 percent from RMB541.1 million in the same period of 2020 and up 27.5 percent from RMB2,810.3 million in the first quarter of 2021.In the second quarter of 2021, gross margin was 11.9 percent, compared to minus 2.7 percent in the same time of 2020 and 11.2 percent in the first quarter of 2021.Vehicle margin, which is gross profit from vehicle sales as a percentage of sales revenue, was 11.0 percent in the second quarter of 2021, compared to negative 5.6 percent in the same period of 2020 and 10.1 percent in the first quarter of 2021.The second quarter of 2021 saw a net loss of RMB1,194.6 million (US$185.0 million), compared to RMB146.0 million in the same period of 2020 and RMB786.6 million in the first quarter of 2021.

Non-GAAP net loss in the second quarter of 2021 was RMB1,096.4 million (US$169.8 million), compared to RMB769.5 million in the same period of 2020 and RMB696.3 million in the first quarter of 2021, excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares.In the second quarter of 2021, XPeng's net loss attributable to ordinary shareholders was RMB1,194.6 million (US$185.0 million), compared to RMB1,141.5 million in the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares, and accretion on preferred shares to redemption value,

XPeng's non-GAAP net loss attributable to ordinary shareholders was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared to RMB769.5 million in the same period of 2020 and RMB696.3 million in the first quarter of 2021.For the second quarter of 2021, the basic and diluted net loss per American depositary share (ADS) were both RMB1.50 (US$0.23). For the second quarter of 2021, the non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21). Each ADS represents two ordinary shares of Class A.As of June 30, 2021, the total value of cash and cash equivalents, restricted cash, short-term deposits, short-term investments, and long-term deposits was RMB32,871.2 million (US$5,091.1 million).

Source: Yahoo! finance

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