On May 23, Xiaopeng automobile announced its unaudited financial results for the three months ended March 31, 2022. According to the financial report data, the revenue of Xiaopeng automobile in the first quarter was 7.45 billion yuan, a year-on-year increase of 152.6%; The net loss in the first quarter was 1.7 billion yuan, compared with 787 million yuan in the same period last year. The quarterly gross profit margin reached 12.2%, an increase of 100 basis points year-on-year.
Xiaopeng automobile delivered 34561 vehicles in the first quarter, a year-on-year increase of 159%; It is estimated that 31000 to 34000 vehicles will be delivered in the second quarter.
*Summary of financial statements *:
· in the first quarter of 2022, the total delivery of vehicles was 34561, up 159% from 13340 in the same period of 2021.
· in the first quarter of 2022, the delivery volume of intelligent sports car P7 was 19427, an increase of 144% compared with 7974 in the same period of 2021. The monthly delivery volume of intelligent sports car P7 exceeded 9000 for the first time in March 2022.
• after mass production began in October 2021, the delivery of smart family car P5 maintained a steady growth momentum, reaching 10486 vehicles in the first quarter of 2022, of which more than 50% can support xpilot3 0 or xpilot 3.5.
Management comments
"Our first quarter results are a strong start to 2022. There is strong demand for our high-quality electric vehicle products, and our self-developed technology continues to lead the industry." Mr. He Xiaopeng, chairman and CEO of Xiaopeng automobile, said. "Our excellent self-developed technology development capability and proactive supply chain management enable us to respond to supply chain challenges more efficiently. Despite the impact of semiconductor shortage and COVID-19, we are still confident to expand market share."
"We are pleased to start the new year with a strong quarter. Our total revenue increased 152.6% year-on-year in the first quarter of 2022, and our gross profit margin remained stable." Dr. Gu Hongdi, honorary vice chairman and President of Xiaopeng automobile, said. "We will continue to deal with the uncertainties in the supply chain and are confident in the exciting product line we plan to launch in 2022 and beyond. In addition, we plan to further realize economies of scale and continuously improve our operational efficiency."
Recent development
· in April 2022, the total delivery volume reached 9002, an annual increase of 75%. The delivery includes 3714 P7 (smart sports car), 3564 P5 (smart family car) and 1724 G3 and G3 (compact smart I SUV).
· as of April 30, 2022, the cumulative total delivery volume during the year reached 43563, an increase of 136% year-on-year.
Business outlook
For the second quarter of 2022, the company expects:
· the delivery volume of vehicles will range from 31000 to 34000, with an annual increase of about 78.2% to 95.4%.
The total revenue will range from 6.8 billion yuan to 7.5 billion yuan, an annual increase of about 80.8% to 99.4%.