小鹏汽车2023年Q2业绩公告-

XPENGReportsSecondQuarter2023UnauditedFinancialResults

8月18,2023

·Cashandcashequivalents,restrictedcash,short-terminvestmentsandtimedepositswereRMB33.74billion(US$4.65billion)asofJune30,2023

QuarterlytotalrevenueswereRMB5.06billion,a25.5%increasequarter-over-quarter

·Quarterlygrossmarginwasnegative3.9%,adecreaseof5.6percentagepointsquarter-over-quarter

GUANGZHOU,China--(BUSINESSWIRE)--Aug.18,2023--XPengInc.(“XPENG”orthe“Company,”NYSE:XPEVandHKEX:9868),aleadingChinesesmartelectricvehicle(“SmartEV”)company,todayannounceditsunauditedfinancialresultsforthethreemonthsendedJune30,2023.

OperationalandFinancialHighlightsfortheThreeMonthsEndedJune30,2023

2023Q22023Q12022Q42022Q32022Q22022Q1

Totaldeliveries23,20518,23022,20429,57034,42234,561

Totaldeliveriesofvehicleswere23,205forthesecondquarterof2023,representinganincreaseof27.3%from18,230forthefirstquarterof2023.

·XPENG’sphysicalsalesnetworkhadatotalof411storesasofJune30,2023.

·XPENGself-operatedchargingstationnetworkreached1,024stations,including824XPENGself-operatedsuperchargingstationsand200destinationchargingstationsasofJune30,2023.

·TotalrevenueswereRMB5.06billion(US$0.70billion)forthesecondquarterof2023,representingadecreaseof31.9%fromthesameperiodof2022,andanincreaseof25.5%fromthefirstquarterof2023.

·RevenuesfromvehiclesaleswereRMB4.42billion(US$0.61billion)forthesecondquarterof2023,representingadecreaseof36.2%fromthesameperiodof2022,andanincreaseof25.9%fromthefirstquarterof2023.

·Grossmarginwasnegative3.9%forthesecondquarterof2023,comparedwith10.9%forthesameperiodof2022and1.7%forthefirstquarterof2023.

·Vehiclemargin,whichisgrossprofitorlossofvehiclesalesasapercentageofvehiclesalesrevenue,wasnegative8.6%forthesecondquarterof2023,comparedwith9.1%forthesameperiodof2022andnegative2.5%forthefirstquarterof2023.

·NetlosswasRMB2.80billion(US$0.39billion)forthesecondquarterof2023,comparedwithRMB2.70billionforthe

sameperiodof2022andRMB2.34billionforthefirstquarterof2023.Excludingshare-basedcompensationexpenses,

non-GAAPnetlosswasRMB2.67billion(US$0.37billion)forthesecondquarterof2023,comparedwithRMB2.46billionforthesameperiodof2022andRMB2.21billionforthefirstquarterof2023.

·NetlossattributabletoordinaryshareholdersofXPENGwasRMB2.80billion(US$0.39billion)forthesecondquarterof2023,comparedwithRMB2.70billionforthesameperiodof2022andRMB2.34billionforthefirstquarterof2023.

Excludingshare-basedcompensationexpenses,non-GAAPnetlossattributabletoordinaryshareholdersof

XPENGwasRMB2.67billion(US$0.37billion)forthesecondquarterof2023,comparedwithRMB2.46billionforthesameperiodof2022andRMB2.21billionforthefirstquarterof2023.

·BasicanddilutednetlossperAmericandepositaryshare(ADS)werebothRMB3.25(US$0.45)andbasicand

dilutednetlossperordinarysharewerebothRMB1.63(US$0.22)forthesecondquarterof2023.EachADSrepresentstwoClassAordinaryshares.

·Non-GAAPbasicanddilutednetlossperADSwerebothRMB3.10(US$0.43)andnon-GAAPbasicanddilutednetlossperordinarysharewerebothRMB1.55(US$0.21)forthesecondquarterof2023.

Cashandcashequivalents,restrictedcash,short-terminvestmentsandtimedepositswereRMB33.74billion

(US$4.65billion)asofJune30,2023,comparedwithRMB38.25billionasofDecember31,2022.Timedepositsincluderestrictedshort-termdeposits,short-termdeposits,restrictedlong-termdeposits,currentportionandnon-currentportionoflong-termdeposits.

KeyFinancialResults

(inRMBbillions,exceptforpercentage)

FortheThreeMonthsEnded

%Changei

June30,March31,June30,

202320232022

YoYQoQ

Vehiclesales4.423.516.94-36.2%25.9%

Vehiclemargin-8.6%-2.5%9.1%-17.7pts-6.1pts

Totalrevenues

5.06

4.03

7.44-31.9%25.5%

Gross(loss)profit

(0.20)

0.07

0.81-124.4%-394.5%

Grossmargin

-3.9%

1.7%

10.9%-14.8pts-5.6pts

Netloss

2.80

2.34

2.703.8%20.0%

Non-GAAPnetloss

2.67

2.21

2.46

8.3%20.7%

Netlossattributabletoordinary

shareholders

2.80

2.34

2.70

3.8%20.0%

Non-GAAPnetlossattributable

toordinaryshareholders2.672.212.468.3%20.7%

Comprehensivelossattributable

toordinaryshareholders1.932.580.78147.8%-25.3%

iExceptforvehiclemarginandgrossmargin,whereabsolutechangesinsteadofpercentagechangesarepresented

ManagementCommentary

“XPENGG6,ourfirststrategicmodelbuiltonSEPA2.0,hasquicklybecomeoneofthebest-sellingmodelsfollowingitsofficiallaunchinJune,

turbochargingoursalesgrowthmomentum.IbelievethesuccessoftheG6isjustthebeginningandmovingforward,awiderrangeofSEPA2.0-

enabledmodelswillbebroughttoourcustomers,”saidMr.HeXiaopeng,ChairmanandCEOofXPENG.“Alongwithourunwaveringcommitmenttoadvancingtechnologyinnovationoverthepast9yearssinceourestablishment,we’vecreatedmeaningfulbreakthroughsincommercializingour

industry-leadingfull-stackEVplatformandsmarttechnologies,bothdevelopedin-house.ThisisclearlyevidencedbytheincreasingADASadoptionamongourcustomersandourstrategicpartnershipwithVolkswagen,aworld-leadingcarmaker.”

“Benefittingfromthenewproductsandsupportedbymoreefficientsaleschannels,ourvehicledeliverieshavepostedsequentialgrowthforsixconsecutivemonths,”saidDr.HongdiBrianGu,HonoraryViceChairmanandCo-PresidentofXPENG.“WiththeG6andothernewproductsacceleratingsalesgrowth,weexpectgrossmargintograduallyrecoverwhileoperatingefficiencycontinuestoimproveandfreecashflowtosubstantiallyimprove.”

RecentDevelopments

DeliveriesinJuly2023

Totaldeliverieswere11,008vehiclesinJuly2023.

·AsofJuly31,2023,year-to-datetotaldeliverieswere52,443vehicles.

AppointmentofVicePresident

Mr.JiamingWu(“Mr.Wu”)hasbeenappointedasthevicepresidentoffinanceandaccountingoftheCompany.PriortojoiningtheCompany,Mr.WuservedasthevicepresidentandchieffinancialofficerofSAIC-GM-WulingAutomotiveCo.,Ltd.fromJuly2022toMay2023.Mr.Wuservedasthe

vicepresidentandchieffinancialofficerofPTSGMWMotorIndonesiafromJuly2019toJune2022.FromApril2017toJune2019,Mr.WuworkedasafinancemanagerattheUSheadquartersofGeneralMotorsCompany.FromJuly2012toMarch2017,Mr.Wuworkedasaregionalfinance

manageratGeneralMotorsInternationalOperations(GMIO).Mr.Wureceivedhismaster’sdegreeinbusinessadministrationfromYaleUniversityin2012,andhisbachelor’sdegreeineconomicsfromShanghaiUniversityofInternationalBusinessandEconomicsin2006.

LaunchoftheG6

OnJune29,2023,XPENGannouncedtheofficiallaunchofitsG6UltraSmartCoupeSUV,theCompany’sinauguralmodelbasedonitsnext-generationtechnologyarchitecture,SEPA2.0,inChina.DeliveriesoftheG6commencedinJuly2023forcustomersinChina.

FormingStrategicPartnershipwiththeVolkswagenGroup

OnJuly26,2023,XPENGandtheVolkswagenGroup(“Volkswagen”)enteredintoaframeworkagreementonstrategictechnicalcollaborationandasharepurchaseagreementforastrategicminorityinvestmentbyVolkswagenintheCompanyforanexpectedtotalconsiderationofapproximatelyUS$700millionincash.Fordetails,pleaserefertotheannouncementoftheCompanydatedJuly26,2023.

UnauditedFinancialResultsfortheThreeMonthsEndedJune30,2023

TotalrevenueswereRMB5.06billion(US$0.70billion)forthesecondquarterof2023,representingadecreaseof31.9%fromRMB7.44billionforthesameperiodof2022andanincreaseof25.5%fromRMB4.03billionforthefirstquarterof2023.

RevenuesfromvehiclesaleswereRMB4.42billion(US$0.61billion)forthesecondquarterof2023,representingadecreaseof36.2%fromthesameperiodof2022,andanincreaseof25.9%fromthefirstquarterof2023.Theyear-over-yeardecreasewasmainlyattributabletolowervehicle

deliveriesanddiscontinuationofnewenergyvehiclesubsidy,whilethequarter-over-quarterincreasewasmainlyduetohighervehicledeliveriesoftheP7i.

RevenuesfromservicesandotherswereRMB0.64billion(US$0.09billion)forthesecondquarterof2023,representinganincreaseof28.2%fromRMB0.50billionforthesameperiodof2022andanincreaseof22.8%fromRMB0.52billionforthefirstquarterof2023.Theyear-over-yearand

quarter-over-quarterincreasesweremainlyattributabletotheincreaseofpartsandservicessales,whichwasinlinewithhigheraccumulatedvehiclesales.

CostofsaleswasRMB5.26billion(US$0.73billion)forthesecondquarterof2023,representingadecreaseof20.6%fromRMB6.63billionforthesameperiodof2022andanincreaseof32.6%fromRMB3.97billionforthefirstquarterof2023.Theyear-over-yeardecreaseandthequarter-

over-quarterincreaseweremainlyinlinewithvehicledeliveriesasdescribedabove.Additionally,forthesecondquarterof2023,theCompanyrecordedtheinventorywrite-downsandlossesoninventorypurchasecommitmentsamountingtoRMB0.20billionrelatedtothemodelG3ias

managementlowereditsforecastedsalesduetostronger-than-expectedmarketdemandsfornewlylaunchedvehiclemodels,resultinginthequarter-over-quarterincrease.

Grossmarginwasnegative3.9%forthesecondquarterof2023,comparedwith10.9%forthesameperiodof2022and1.7%forthefirstquarterof2023.

Vehiclemarginwasnegative8.6%forthesecondquarterof2023,comparedwith9.1%forthesameperiodof2022andnegative2.5%forthefirstquarterof2023.Theyear-over-yearandquarter-over-quarterdecreaseswereexplainedby(i)theinventorywrite-downsandlossesoninventorypurchasecommitmentsrelatedtotheG3i,withanegativeimpactof4.5percentagepointsonvehiclemarginforthesecondquarterof2023,and(ii)increasedsalespromotions,andtheexpiryofnewenergyvehiclesubsidiesmentionedabove.

ResearchanddevelopmentexpenseswereRMB1.37billion(US$0.19billion)forthesecondquarterof2023,representinganincreaseof8.1%fromRMB1.26billionforthesameperiodof2022andanincreaseof5.5%fromRMB1.30billionforthefirstquarterof2023.Theyear-over-yearand

quarter-over-quarterincreasesweremainlyduetohigherexpensesrelatedtothedevelopmentofnewvehiclemodelsastheCompanyexpandeditsproductportfoliotosupportfuturegrowth.

Selling,generalandadministrativeexpenseswereRMB1.54billion(US$0.21billion)forthesecondquarterof2023,representingadecreaseof

7.3%fromRMB1.66billionforthesameperiodof2022andanincreaseof11.3%fromRMB1.39billionforthefirstquarterof2023.Theyear-over-yeardecreasewasprimarilyattributabletothereductionincommissionpaidtothefranchisedstoresandlowermarketingandadvertisingexpenses.Thequarter-over-quarterincreasewasmainlyresultingfromhighermarketingandadvertisingexpensestosupportnewproductlaunches.

LossfromoperationswasRMB3.09billion(US$0.43billion)forthesecondquarterof2023,comparedwithRMB2.09billionforthesameperiodof2022andRMB2.59billionforthefirstquarterof2023.

Non-GAAPlossfromoperations,whichexcludesshare-basedcompensationexpenses,wasRMB2.96billion(US$0.41billion)forthesecondquarterof2023,comparedwithRMB1.85billionforthesameperiodof2022andRMB2.46billionforthefirstquarterof2023.

NetlosswasRMB2.80billion(US$0.39billion)forthesecondquarterof2023,comparedwithRMB2.70billionforthesameperiodof2022andRMB2.34billionforthefirstquarterof2023.

Non-GAAPnetloss,whichexcludesshare-basedcompensationexpenses,wasRMB2.67billion(US$0.37billion)forthesecondquarterof2023,comparedwithRMB2.46billionforthesameperiodof2022andRMB2.21billionforthefirstquarterof2023.

NetlossattributabletoordinaryshareholdersofXPENGwasRMB2.80billion(US$0.39billion)forthesecondquarterof2023,comparedwithRMB2.70billionforthesameperiodof2022andRMB2.34billionforthefirstquarterof2023.

Non-GAAPnetlossattributabletoordinaryshareholdersofXPENG,whichexcludesshare-basedcompensationexpenses,wasRMB2.67billion(US$0.37billion)forthesecondquarterof2023,comparedwithRMB2.46billionforthesameperiodof2022andRMB2.21billionforthefirstquarterof2023.

BasicanddilutednetlossperADSwerebothRMB3.25(US$0.45)forthesecondquarterof2023,comparedwithRMB3.16forthesecondquarterof2022andRMB2.71forthefirstquarterof2023.

Non-GAAPbasicanddilutednetlossperADSwerebothRMB3.10(US$0.43)forthesecondquarterof2023,comparedwithRMB2.88forthesecondquarterof2022andRMB2.57forthefirstquarterof2023.

BalanceSheets

AsofJune30,2023,theCompanyhadcashandcashequivalents,restrictedcash,short-terminvestmentsandtimedepositsofRMB33.74billion(US$4.65billion),comparedwithRMB38.25billionasofDecember31,2022andRMB34.12billionasofMarch31,2023.

BusinessOutlook

Forthethirdquarterof2023,theCompanyexpects:

·Deliveriesofvehiclestobebetween39,000and41,000,representingayear-over-yearincreaseofapproximately31.9%to38.7%.

·TotalrevenuestobebetweenRMB8.5billionandRMB9.0billion,representingayear-over-yearincreaseofapproximately24.6%to31.9%.

TheaboveoutlookisbasedonthecurrentmarketconditionsandreflectstheCompany’spreliminaryestimatesofmarketandoperatingconditions,andcustomerdemand,whichareallsubjecttochange.

ConferenceCall

TheCompany’smanagementwillhostanearningsconferencecallat8:00AMU.S.EasternTimeonAugust18,2023(8:00PMBeijing/HongKongTimeonAugust18,2023).

Forparticipantswhowishtojointhecallbyphone,pleaseaccessthelinkprovidedbelowtocompletethepre-registrationprocessanddialin5minutespriortothescheduledcallstarttime.Uponregistration,eachparticipantwillreceivedial-indetailstojointheconferencecall.

EventTitle:XPENGSecondQuarter2023EarningsConferenceCall

Pre-registrationlink:

/diamondpass/10032444-7wgtf6.html

Additionally,aliveandarchivedwebcastoftheconferencecallwillbeavailableontheCompany’sinvestorrelationswebsiteat

.

AreplayoftheconferencecallwillbeaccessibleapproximatelyanhouraftertheconclusionofthecalluntilAugust25,2023,bydialingthefollowingtelephonenumbers:

UnitedStates:+1-855-883-1031

International:+61-7-3107-6325

HongKong,China:800-930-639

MainlandChina:400-120-9216

ReplayAccessCode:10032444

AboutXPENG

XPENGisaleadingChineseSmartEVcompanythatdesigns,develops,manufactures,andmarketsSmartEVsthatappealtothelargeandgrowingbaseoftechnology-savvymiddle-classconsumers.ItsmissionistodriveSmartEVtransformationwithtechnology,shapingthemobilityexperienceofthefuture.Inordertooptimizeitscustomers’mobilityexperience,XPENGdevelopsin-houseitsfull-stackadvanceddriver-assistancesystem

technologyandin-carintelligentoperatingsystem,aswellascorevehiclesystemsincludingpowertrainandtheelectrical/electronicarchitecture.XPENGisheadquarteredinGuangzhou,China,withmainofficesinBeijing,Shanghai,SiliconValley,SanDiegoandAmsterdam.TheCompany’s

SmartEVsaremainlymanufacturedatitsplantsinZhaoqingandGuangzhou,Guangdongprovince.Formoreinformation,pleasevisit

https://heyXPENG.com.

UseofNon-GAAPFinancialMeasures

TheCompanyusesnon-GAAPmeasures,suchasnon-GAAPlossfromoperations,non-GAAPnetloss,non-GAAPnetlossattributabletoordinaryshareholders,non-GAAPbasiclossperweightedaveragenumberofordinarysharesandnon-GAAPbasiclossperADS,inevaluatingitsoperatingresultsandforfinancialandoperationaldecision-makingpurposes.Byexcludingtheimpactofshare-basedcompensationexpenses,theCompanybelievesthatthenon-GAAPfinancialmeasureshelpidentifyunderlyingtrendsinitsbusinessandenhancetheoverallunderstandingofthe

Company’spastperformanceandfutureprospects.TheCompanyalsobelievesthatthenon-GAAPfinancialmeasuresallowforgreatervisibilitywithrespecttokeymetricsusedbytheCompany’smanagementinitsfinancialandoperationaldecision-making.Thenon-GAAPfinancialmeasuresarenotpresentedinaccordancewithU.S.GAAPandmaybedifferentfromnon-GAAPmethodsofaccountingandreportingusedbyothercompanies.

Thenon-GAAPfinancialmeasureshavelimitationsasanalyticaltoolsandwhenassessingtheCompany’soperatingperformance,investorsshould

notconsidertheminisolation,orasasubstitutefornetlossorotherconsolidatedstatementsofcomprehensivelossdatapreparedinaccordancewithU.S.GAAP.TheCompanyencouragesinvestorsandotherstoreviewitsfinancialinformationinitsentiretyandnotrelyonasinglefinancialmeasure.

TheCompanymitigatestheselimitationsbyreconcilingthenon-GAAPfinancialmeasurestothemostcomparableU.S.GAAPperformancemeasures,allofwhichshouldbeconsideredwhenevaluatingtheCompany’sperformance.

Formoreinformationonthenon-GAAPfinancialmeasures,pleaseseethetablecaptioned“UnauditedReconciliationsofGAAPandnon-GAAPResults”setforthinthisannouncement.

ExchangeRateInformation

ThisannouncementcontainstranslationsofcertainRMBamountsintoU.S.dollarsataspecifiedratesolelyfortheconvenienceofthereader.Unlessotherwisenoted,alltranslationsfromRMBtoU.S.dollarsandfromU.S.dollarstoRMBaremadeatarateofRMB7.2513toUS$1.00,theexchangerateonJune30,2023,setforthintheH.10statisticalreleaseoftheFederalReserveBoard.TheCompanymakesnorepresentationthattheRMBorU.S.dollarsamountsreferredcouldbeconvertedintoU.S.dollarsorRMB,asthecasemaybe,atanyparticularrateoratall.

SafeHarborStatement

Thisannouncementcontainsforward-lookingstatements.Thesestatementsaremadeunderthe“safeharbor”provisionsoftheUnitedStatesPrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas“will,”“expects,”“anticipates,”

“future,”“intends,”“plans,”“believes,”“estimates”andsimilarstatements.Statementsthatarenothistoricalfacts,includingstatementsaboutXPENG’sbeliefsandexpectations,areforward-lookingstatements.Forward-lookingstatementsinvolveinherentrisksanduncertainties.Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement,includingbutnotlimitedtothefollowing:

XPENG’sgoalandstrategies;XPENG’sexpansionplans;XPENG’sfuturebusinessdevelopment,financialconditionandresultsofoperations;thetrendsin,andsizeof,China’sEVmarket;XPENG’sexpectationsregardingdemandfor,andmarketacceptanceof,itsproductsandservices;

XPENG’sexpectationsregardingitsrelationshipswithcustomers,suppliers,third-partyserviceproviders,strategicpartnersandotherstakeholders;

generaleconomicandbusinessconditions;andassumptionsunderlyingorrelatedtoanyoftheforegoing.FurtherinformationregardingtheseandotherrisksisincludedinXPENG’sfilingswiththeUnitedStatesSecuritiesandExchangeCommission.Allinformationprovidedinthisannouncementisasofthedateofthisannouncement,andXPENGdoesnotundertakeanyobligationtoupdateanyforward-lookingstatement,exceptasrequiredunderapplicablelaw.

XPENGINC.

UNAUDITEDCONDENSEDCONSOLIDATEDBALANCESHEETS

(Allamountsinthousands,exceptforADS/ordinaryshareandperADS/ordinarysharedata)

December31,

June30,June30,

2022

20232023

RMB

RMBUS$

ASSETS

Currentassets

Cashandcashequivalents

Restrictedcash

Short-termdeposits

14,607,77411,010,4471,518,410

106,272675,87293,207

14,921,68811,220,8401,547,425

Restrictedshort-termdeposits

Short-terminvestments

Long-termdeposits,currentportion

Accountsandnotesreceivable,net

Installmentpaymentreceivables,net,currentportion

Inventory

Amountsduefromrelatedparties

Prepaymentsandothercurrentassets

Totalcurrentassets

Non-currentassets

Long-termdeposits

Restrictedlong-termdeposits

Property,plantandequipment,net

Right-of-useassets

Intangibleassets,net

Landuserights,net

Installmentpaymentreceivables,net

Long-terminvestments

Othernon-currentassets

Totalnon-currentassets

Totalassets

-

1,262,129

427,466

3,872,846

1,294,665

4,521,373

47,124

2,466,084

1,010,000

462,598

4,887,318

3,593,413

1,533,143

3,572,087

25,562

2,364,098

139,285

63,795

673,992

495,554

211,430

492,613

3,525

326,026

43,527,42140,355,3785,565,262

6,926,4503,927,324541,603

-550,00075,848

10,606,74511,364,3761,567,219

1,954,618

1,042,972

2,747,854

2,188,643

2,295,032

201,271

1,776,965

1,085,643

2,811,804

2,262,552

2,455,199

95,423

245,055

149,717

387,766

312,020

338,587

13,159

27,963,58526,329,2863,630,974

71,491,00666,684,6649,196,236

XPENGINC.

UNAUDITEDCONDENSEDCONSOLIDATEDBALANCESHEETS

(CONTINUED)

(Allamountsinthousands,exceptforADS/ordinaryshareandperADS/ordinarysharedata)

LIABILITIES

Currentliabilities

Short-termborrowings

Accountsandnotespayable

Amountduetorelatedparties

Operatingleaseliabilities,currentportionFinanceleaseliabilities,currentportion

Deferredrevenue,currentportion

Long-termborrowings,currentportionAccrualsandotherliabilities

Incometaxespayable

Totalcurrentliabilities

Non-currentliabilities

Long-termborrowings

Operatingleaseliabilities

Financeleaseliabilities

Deferredrevenue

Othernon-currentliabilities

Totalnon-currentliabilities

Totalliabilities

SHAREHOLDERS’EQUITY

ClassAOrdinaryshares

December31,2022

RMB

June30,2023

RMB

June30,2023

US$

2,419,210

14,222,856

91,111

490,811

128,279

389,243

761,859

5,583,829

27,655

4,259,210

11,306,075

30,468

450,129

98,997

429,348

622,607

6,203,300

32,289

587,372

1,559,179

4,202

62,076

13,652

59,210

85,861

855,474

4,453

24,114,853

4,613,057

23,432,423

3,231,479

5,388,395

743,094

1,854,576

1,731,421

238,774

797,743

802,685

110,695

694,006

698,206

96,287

2,506,106

10,465,488

34,580,341

1,958,571

270,099

10,579,278

1,458,949

34,011,701

4,690,428

929213

ClassBOrdinaryshares

21

21

3

Additionalpaid-incapital

60,691,019

60,950,227

8,405,421

Statutoryandotherreserves

6,425

18,812

2,594

Accumulateddeficit(25,330,916)(30,472,526)(4,202,354)

Accumulatedothercomprehensiveincome1,544,0242,176,337300,131

Totalshareholders'equity36,910,66532,672,9634,505,808

Totalliabilitiesandshareholders’equity71,491,00666,684,6649,196,236

XPENGINC.

UNAUDITEDCONDENSEDCONSOLIDATEDSTATEMENTSOF

COMPREHENSIVELOSS

(Allamountsinthousands,exceptforADS/ordinaryshareandperADS/ordinarysharedata)

ThreeMonthsEnded

June30,March31,June30,June30,

Revenues

Vehiclesales

2022

RMB

6,938,497

2023

RMB

2023

RMB

2023

US$

3,513,7674,424,537610,172

Servicesandothers

497,848519,653638,15988,006

Totalrevenues

7,436,3454,033,4205,062,696698,178

Costofsales

Vehiclesales(6,309,727)(3,600,529)(4,804,535)(662,576)

Servicesandothers(317,258)(365,859)(455,552)(62,823)

Totalcostofsales(6,626,985)(3,966,388)(5,260,087)(725,399)

Grossprofit(loss)809,36067,032(197,391)(27,221)

Operatingexpenses

Researchanddevelopmentexpenses(1,264,959)(1,295,854)(1,367,107)(188,533)

Selling,generalandadministrative

expenses(1,664,513)(1,386,620)(1,543,625)(212,876)

Totaloperatingexpenses(2,929,472)(2,682,474)(2,910,732)(401,409)

Otherincome,net

29,32830,06517,9402,474

Lossfromoperations

(2,090,784)(2,585,377)(3,090,183)(426,156)

Interestincome267,506299,741303,63741,873

Interestexpense(22,311)(62,667)(67,007)(9,241)

Fairvaluegainonderivativeassetsor

derivativeliabilities84,211---

Fairvaluegain(loss)onlong-term

investments15,8698,440(38,704)(5,338)

Exchange(loss)gainfromforeigncurrency

transactions(938,327)2,08342,6635,883

Othernon-operating(loss)income,net(1,948)6,0024,286591

Lossbeforeincometaxexpensesand

shareofresultsofequitymethod

investees(2,685,784)(2,331,778)(2,845,308)(392,388)

Incometaxexpenses(11,735)(6,157)(8,217)(1,133)

Shareofresultsofequitymethodinvestees(3,363)97748,8736,740

Netloss

(2,700,882)(2,336,958)(2,804,652)(386,781)

NetlossattributabletoordinaryshareholdersofXPengInc.

(2,700,882)(2,336,958)(2,804,652)(386,781)

XPENGINC.

UNAUDITEDCONDENSEDCONSOLIDATEDSTATEMENTSOF

COMPREHENSIVELOSS(CONTINUED)

(Allamountsinthousands,exceptforADS/ordinaryshareandperADS/ordinarysharedata)

ThreeMonthsEnded

Netloss

Othercomprehensiveincome(loss)

June30,

2022

RMB

(2,700,882)

March31,

2023

RMB

(2,336,958)

J