Xiaopeng Motors: The revenue in the second quarter is 7.4 billion yuan, and the revenue in the third quarter is expected to be up to 7.2 billion yuan

Reporter/Wu Yuli

Xiaopeng Motors (NYSE: XPEV; 9868.HK) expanded its losses in the second quarter due to foreign exchange losses.

On August 23, Xiaopeng Motors released its financial report for the second quarter ended June 30, 2022. According to the financial report, Xiaopeng Motors achieved revenue of 7.436 billion yuan in the second quarter, a year-on-year increase of 97.7%, which was the same as the first quarter of this year; the net loss in the second quarter was 2.709 billion yuan, an increase of 126.1% year-on-year and a month-on-month increase of 58.8%.

Xiaopeng Motors financial data, from the financial report

It is worth noting that Xpeng Motors’ loss widened this quarter, largely due to foreign exchange losses. The financial report shows that in the second quarter of 2022, the foreign currency exchange loss of Xiaopeng Motors was as high as 938 million yuan. The financial report stated that “it was mainly due to the impact of the revaluation of assets held mainly in RMB by subsidiaries with the US dollar as the functional currency in the second quarter and the impact of RMB. depreciation against the dollar.”

From the perspective of profit margin indicators, Xiaopeng Motors gross profit margin is 10.9% in the second quarter of 2022, 11.9% in the same period in 2021, and 12.2% in the first quarter of 2022; its automotive profit margin is 9.1%, compared with the same period in 2021. 11.0%, compared to 10.4% in the first quarter of 2022.

The quarter-over-quarter decline in profit margins was primarily due to higher battery costs, partially offset by higher revenue due to selling price adjustments, the report said.

In terms of sales volume, Xpeng Motors delivered 34,000 vehicles in the second quarter, an increase of 98% year-on-year, and it still ranks first in the sales volume of new car manufacturers.

In terms of models, the delivery volume of Xiaopeng P7 smart sports sedan was 16,000 units, a year-on-year increase of 39%; the delivery volume of Xiaopeng P5 smart family sedan was 12,800 units.

Thanks to the increase in sales, Xiaopeng Motors’ second-quarter auto sales revenue was 6.938 billion yuan, a year-on-year increase of 93.6%.

Xpeng Motors delivery data, from the financial report

Xiaopeng Motors CEO He Xiaopeng said in the financial report, “We will accelerate the pace of new product launches and enrich our product matrix in the price range of RMB 150,000 to 500,000. We plan to launch two competitive models in 2023, further Drive rapid sales growth.”

In terms of research and development, Xiaopeng Motors’ research and development expenditure in the second quarter was 1.265 billion yuan, an increase of 46.5% year-on-year and a month-on-month increase of 3.6%. Gu Hongdi, president of Xiaopeng Motors, said in the financial report, “I believe that our investment in research and development will enter the harvest period with the launch of a variety of new products in the next few quarters.”

From the perspective of cash level, as of June 30, 2022, Xiaopeng Motors’ cash and cash equivalents were 41.339 billion yuan, the same as the end of the previous quarter.

For the third quarter of 2022, Xiaopeng expects that the car delivery volume will be 29,000-31,000 units, a year-on-year increase of 13.0%-20.8%. The total revenue was 6.8-7.2 billion yuan, a year-on-year increase of 18.9%-25.9%.

As of press time, Xiaopeng Automobile’s US stock market reported US$20.08 per share before the market, down 4.38%; Hong Kong stocks closed down 2.18% at HK$82.95 per share.

media coverage

NetEase News IT Home Fast Technology TechWeb Lei Technology Sina Technology IT Home CNBeta IT Home
event tracking

This article is reprinted from: https://readhub.cn/topic/8iIzhspaj2P
This site is for inclusion only, and the copyright belongs to the original author.

Leave a Comment Cancel Reply