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Desertpig
2021-05-17
Buy doge, xpev for 2021. Thank me later
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Desertpig
2021-05-13
Sayonara tesla
Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>
Desertpig
2021-05-13
Saynora tesla
Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>
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Thank me later","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/192791967","repostId":"2136980120","repostType":4,"isVote":1,"tweetType":1,"viewCount":2192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191701518,"gmtCreate":1620904731734,"gmtModify":1634195422870,"author":{"id":"3562313390569885","authorId":"3562313390569885","name":"Desertpig","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562313390569885","idStr":"3562313390569885"},"themes":[],"htmlText":"Sayonara tesla","listText":"Sayonara tesla","text":"Sayonara tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191701518","repostId":"1172412248","repostType":4,"repost":{"id":"1172412248","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620896640,"share":"https://www.laohu8.com/m/news/1172412248?lang=zh_CN&edition=full","pubTime":"2021-05-13 17:04","market":"us","language":"en","title":"Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172412248","media":"Tiger Newspress","summary":"XPeng Inc. a leading Chinese smart electric vehicle company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the tot","content":"<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-13 17:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172412248","content_text":"XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.Shares +1.78% PM.First Quarter 2021 Operational HighlightsDeliveries of vehiclesreached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.First Quarter 2021 Financial HighlightsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.Gross marginwas 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.Vehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,non-GAAP net losswas RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per American depositary share (ADS)were both RMB0.99 (US$0.15) for the first quarter of 2021.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term depositswere RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.Recent DevelopmentsDeliveries in April 2021Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.New Smart EV Manufacturing BaseOn April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.Debut of Third Production ModelIn April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.Forming New Strategic PartnershipOn April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.First Quarter 2021 Unaudited Financial ResultsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.Revenues from services and otherswere RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.Cost of saleswas RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.Gross marginwas 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.Vehicle marginwas 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.Research and development expenseswere RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.Selling, general and administrative expenseswere RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.Loss from operationswas RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.Non-GAAP loss from operations,which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.Non-GAAP net loss,which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc., which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per ADSwere both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.Balance SheetsAs of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.Business OutlookFor the second quarter of 2021, the Company expects:Deliveries of vehiclesto be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.Total revenuesto be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.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.","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":3292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191701008,"gmtCreate":1620904684904,"gmtModify":1634195423592,"author":{"id":"3562313390569885","authorId":"3562313390569885","name":"Desertpig","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562313390569885","idStr":"3562313390569885"},"themes":[],"htmlText":"Saynora tesla","listText":"Saynora tesla","text":"Saynora tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191701008","repostId":"1172412248","repostType":4,"repost":{"id":"1172412248","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620896640,"share":"https://www.laohu8.com/m/news/1172412248?lang=zh_CN&edition=full","pubTime":"2021-05-13 17:04","market":"us","language":"en","title":"Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172412248","media":"Tiger Newspress","summary":"XPeng Inc. a leading Chinese smart electric vehicle company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the tot","content":"<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-13 17:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172412248","content_text":"XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.Shares +1.78% PM.First Quarter 2021 Operational HighlightsDeliveries of vehiclesreached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.First Quarter 2021 Financial HighlightsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.Gross marginwas 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.Vehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,non-GAAP net losswas RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per American depositary share (ADS)were both RMB0.99 (US$0.15) for the first quarter of 2021.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term depositswere RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.Recent DevelopmentsDeliveries in April 2021Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.New Smart EV Manufacturing BaseOn April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.Debut of Third Production ModelIn April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.Forming New Strategic PartnershipOn April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.First Quarter 2021 Unaudited Financial ResultsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.Revenues from services and otherswere RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.Cost of saleswas RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.Gross marginwas 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.Vehicle marginwas 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.Research and development expenseswere RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.Selling, general and administrative expenseswere RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.Loss from operationswas RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.Non-GAAP loss from operations,which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.Non-GAAP net loss,which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc., which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per ADSwere both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.Balance SheetsAs of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.Business OutlookFor the second quarter of 2021, the Company expects:Deliveries of vehiclesto be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.Total revenuesto be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.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.","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":192791967,"gmtCreate":1621228036359,"gmtModify":1634193212700,"author":{"id":"3562313390569885","authorId":"3562313390569885","name":"Desertpig","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562313390569885","idStr":"3562313390569885"},"themes":[],"htmlText":"Buy doge, xpev for 2021. Thank me later","listText":"Buy doge, xpev for 2021. Thank me later","text":"Buy doge, xpev for 2021. Thank me later","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/192791967","repostId":"2136980120","repostType":4,"isVote":1,"tweetType":1,"viewCount":2192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191701518,"gmtCreate":1620904731734,"gmtModify":1634195422870,"author":{"id":"3562313390569885","authorId":"3562313390569885","name":"Desertpig","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562313390569885","idStr":"3562313390569885"},"themes":[],"htmlText":"Sayonara tesla","listText":"Sayonara tesla","text":"Sayonara tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191701518","repostId":"1172412248","repostType":4,"repost":{"id":"1172412248","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620896640,"share":"https://www.laohu8.com/m/news/1172412248?lang=zh_CN&edition=full","pubTime":"2021-05-13 17:04","market":"us","language":"en","title":"Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172412248","media":"Tiger Newspress","summary":"XPeng Inc. a leading Chinese smart electric vehicle company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the tot","content":"<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-13 17:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172412248","content_text":"XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.Shares +1.78% PM.First Quarter 2021 Operational HighlightsDeliveries of vehiclesreached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.First Quarter 2021 Financial HighlightsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.Gross marginwas 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.Vehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,non-GAAP net losswas RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per American depositary share (ADS)were both RMB0.99 (US$0.15) for the first quarter of 2021.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term depositswere RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.Recent DevelopmentsDeliveries in April 2021Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.New Smart EV Manufacturing BaseOn April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.Debut of Third Production ModelIn April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.Forming New Strategic PartnershipOn April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.First Quarter 2021 Unaudited Financial ResultsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.Revenues from services and otherswere RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.Cost of saleswas RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.Gross marginwas 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.Vehicle marginwas 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.Research and development expenseswere RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.Selling, general and administrative expenseswere RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.Loss from operationswas RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.Non-GAAP loss from operations,which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.Non-GAAP net loss,which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc., which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per ADSwere both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.Balance SheetsAs of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.Business OutlookFor the second quarter of 2021, the Company expects:Deliveries of vehiclesto be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.Total revenuesto be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.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.","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":3292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191701008,"gmtCreate":1620904684904,"gmtModify":1634195423592,"author":{"id":"3562313390569885","authorId":"3562313390569885","name":"Desertpig","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562313390569885","idStr":"3562313390569885"},"themes":[],"htmlText":"Saynora tesla","listText":"Saynora tesla","text":"Saynora tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191701008","repostId":"1172412248","repostType":4,"repost":{"id":"1172412248","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620896640,"share":"https://www.laohu8.com/m/news/1172412248?lang=zh_CN&edition=full","pubTime":"2021-05-13 17:04","market":"us","language":"en","title":"Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172412248","media":"Tiger Newspress","summary":"XPeng Inc. a leading Chinese smart electric vehicle company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the tot","content":"<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXpeng EPS beats by $0.07, misses on revenue<blockquote>小鹏汽车EPS超过预期0.07美元，营收不及预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-13 17:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>中国领先的智能电动汽车（“智能电动汽车”）公司小鹏汽车今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><ul><li>Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.</li><li>Revenue of $450.4M misses by $15.38M.</li><li>Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul>Shares +1.78% PM.</p><p><blockquote><ul><li>小鹏汽车第一季度非GAAP每股收益为-0.13美元，超过预期为0.07美元；GAAP每股收益为-0.15美元低于预期为0.02美元。</li><li>收入4.504亿美元低于预期1538万美元。</li><li>2021年第一季度汽车交付量达到13,340辆，较2020年同期的2,271辆增长487.4%，较2020年第四季度的12,964辆增长2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由合共178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul>股价+1.78%PM。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3d69e0ac387bcf35b348fc3b8585197a\" tg-width=\"766\" tg-height=\"494\" referrerpolicy=\"no-referrer\"><b>First Quarter 2021 Operational Highlights</b></p><p><blockquote><b>2021年第一季度运营亮点</b></blockquote></p><p><ul><li><b>Deliveries of vehicles</b>reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.</li><li>Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.</li><li>As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.</li><li>As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.</li></ul><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><ul><li><b>车辆交付</b>2021年第一季度达到13,340人，较2020年同期的2,271人增加487.4%，较2020年第四季度的12,964人增加2.9%。</li><li>在截至本季度交付的P7总数中，96%可以支持XPILOT 2.5或XPILOT 3.0。</li><li>截至2021年3月31日，小鹏汽车的实体销售和服务网络由178家门店和61个服务中心组成，覆盖70个城市。</li><li>截至2021年3月31日，小鹏品牌超级充电站扩容至172座，覆盖60个城市。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</li><li><b>Revenues from vehicle sales</b>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.</li><li><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.</li><li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.</li><li><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,<b>non-GAAP net loss</b>was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,<b>non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per American depositary share (ADS)</b>were both RMB0.99 (US$0.15) for the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.</li><li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.</li></ul>“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.</p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</li><li><b>汽车销售收入</b>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。</li><li><b>毛利率</b>2021年第一季度为11.2%，而2020年同期为负4.8%，2020年第四季度为7.4%。</li><li><b>车辆余量</b>2021年第一季度汽车销售毛利占汽车销售收入的百分比为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。</li><li><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。不包括与优先股赎回权相关的以股份为基础的薪酬开支及衍生负债的公允价值变动，<b>非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。不包括以股份为基础的薪酬开支、与优先股赎回权相关的衍生负债的公允价值变动及优先股至赎回价值的增值，<b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</li><li><b>每股美国存托股(ADS)基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元）。<b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元）。每份美国存托凭证代表两股A类普通股。</li><li><b>现金及现金等价物、受限制现金、短期存款、短期投资和长期存款</b>截至2021年3月31日为人民币362.01亿元（55.254亿美元）。</li></ul>小鹏汽车董事长兼首席执行官何小鹏先生表示：“尽管汽车需求季节性放缓且半导体短缺，但第一季度的汽车交付量仍创历史新高，为2021年开局良好。”“我们本季度的强劲势头得益于我们行业领先的全栈自动驾驶技术、稳健的差异化产品战略以及引领智能电动汽车开发和转型的愿景。</blockquote></p><p></p><p>“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.</p><p><blockquote>“值得注意的是，自1月底发布XPILOT 3.0的OTA更新以来，我们现在正在确认来自专有XPILOT软件的收入。随着我们在全栈内部研发能力和强大的闭环支持下快速技术迭代的不断增长数据能力，我相信XPILOT的软件货币化将成为经常性收入，作为我们车辆销售收入的一部分。</blockquote></p><p>“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.</p><p><blockquote>“快速的软件迭代也支持我们不断推出具有更强大硬件的新车型的能力。全球首款量产的配备激光雷达的智能电动汽车P5的首次亮相凸显了我们塑造未来移动体验的使命。</blockquote></p><p>“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.</p><p><blockquote>“展望未来，我们将继续致力于我们的长期战略路线图和技术创新，以推动智能电动汽车转型。此外，我们将继续长期投资建设我们的销售、服务和充电设施，以及我们的生产和供应链能力，以支持未来几年的强劲增长，”何先生补充道。</blockquote></p><p>“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.</p><p><blockquote>小鹏汽车副董事长兼总裁顾布莱恩博士表示：“小鹏汽车在2021年第一季度的强劲业绩证明了我们制造差异化智能电动汽车的强大能力，以满足庞大且不断增长的客户群的各种需求。”“得益于本季度创纪录的交付量，我们第一季度的收入达到人民币29.509亿元，同比增长616.1%。我们的盈利能力也进一步提高。特别是我们的毛利率继续保持上升趋势，本季度达到11.2%。</blockquote></p><p>“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.</p><p><blockquote>“此外，我们专有软件实现的收入反映出我们在自动驾驶软件订阅方面处于行业前列。此外，我们良好的财务状况和强劲的现金状况使我们能够更好地执行增长战略，巩固竞争优势并抓住智能电动汽车领域的巨大增长机会，”顾博士总结道。</blockquote></p><p><b>Recent Developments</b></p><p><blockquote><b>最近的发展</b></blockquote></p><p><b>Deliveries in April 2021</b></p><p><blockquote><b>2021年4月交付量</b></blockquote></p><p>Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.</p><p><blockquote>2021年4月，智能电动汽车总交付量达到5,147辆，同比增长285.3%。4月份交付量包括2,995辆小鹏智能运动轿车P7和2,152辆小鹏紧凑型智能SUV G3。截至2021年4月30日，年初至今的交付量达到18,487台，同比增长412.5%。</blockquote></p><p><b>New Smart EV Manufacturing Base</b></p><p><blockquote><b>新的智能电动汽车制造基地</b></blockquote></p><p>On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).</p><p><blockquote>2021年4月8日，小鹏汽车与武汉市签订合作协议，开发建设小鹏汽车武汉智能电动汽车制造基地（“武汉基地”）。</blockquote></p><p>Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.</p><p><blockquote>在武汉市政府的支持下，小鹏汽车将开始建设新的武汉基地，包括制造和动力总成工厂以及研发设施。武汉基地的年产能为10万辆，将进一步增强小鹏汽车抓住消费者对智能电动汽车不断增长的需求的能力。</blockquote></p><p>Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.</p><p><blockquote>在当地政府的大力支持下，小鹏汽车扩张成为中国主要的汽车制造中心，是小鹏汽车战略发展的又一里程碑，巩固了其在智能电动汽车领域的领导地位。</blockquote></p><p><b>Debut of Third Production Model</b></p><p><blockquote><b>第三款量产车型亮相</b></blockquote></p><p>In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.</p><p><blockquote>2021年4月，小鹏推出了第三款量产车型小鹏P5智能轿车，这是全球首款搭载车规级激光雷达技术的量产智能EV。P5搭载小鹏汽车自主研发的全栈自动驾驶技术XPILOT和智能车载操作系统Xmart OS，将在XPILOT 3.5和Xmart OS 3.0上为用户提供市场领先的智能电动汽车驾驶体验。</blockquote></p><p><b>Forming New Strategic Partnership</b></p><p><blockquote><b>建立新的战略伙伴关系</b></blockquote></p><p>On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.</p><p><blockquote>2021年4月15日，小鹏汽车与中升集团签订谅解备忘录，建立长期战略合作伙伴关系，向消费者提供小鹏汽车行业领先的智能电动汽车产品和中升汽车的优质服务，以进一步推动中国的智能电动汽车转型。</blockquote></p><p><b>First Quarter 2021 Unaudited Financial Results</b></p><p><blockquote><b>2021年第一季度未经审计的财务业绩</b></blockquote></p><p><b>Total revenues</b>were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.</p><p><blockquote><b>总收入</b>2021年第一季度为人民币29.509亿元（4.504亿美元），较2020年同期的人民币4.121亿元增长616.1%，较2020年第四季度的人民币28.514亿元增长3.5%。</blockquote></p><p></p><p><i>Revenues from vehicle sales</i>were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.</p><p><blockquote><i>汽车销售收入</i>2021年第一季度为人民币28.103亿元（4.289亿美元），较2020年同期的人民币3.722亿元增长655.2%，较2020年第四季度的人民币27.354亿元增长2.7%。同比增长主要是由于P7于2020年6月底开始交付。环比增长主要归因于2021年第一季度XPILOT 3.0软件的收入确认，因为该功能已交付给累积的软件购买者群体，但部分被政府对新能源汽车的补贴减少所抵消。今年一月。</blockquote></p><p><i>Revenues from services and others</i>were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.</p><p><blockquote><i>服务及其他收入</i>2021年第一季度为人民币1.406亿元（2150万美元），较2020年同期的人民币39.9百万元增长252.2%，较2020年第四季度的人民币1.159亿元增长21.3%。同比和环比增长主要归因于零部件、配件和服务销量的增加，与累计汽车销量的增加一致。</blockquote></p><p><b>Cost of sales</b>was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.</p><p><blockquote><b>销售成本</b>2021年第一季度为人民币26.211亿元（4.001亿美元），较2020年同期的人民币4.319亿元增长506.8%，较2020年第四季度的人民币26.408亿元下降0.7%。同比增长主要是由于如上所述的车辆交付量增加，而环比下降主要是由于有利的材料成本降低。</blockquote></p><p><b>Gross margin</b>was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.</p><p><blockquote><b>毛利率</b>2021年第一季度为11.2%，而2020年第一季度和2020年第四季度分别为负4.8%和7.4%。</blockquote></p><p><b>Vehicle margin</b>was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.</p><p><blockquote><b>车辆余量</b>2021年第一季度为10.1%，而2020年同期为负5.3%，2020年第四季度为负6.8%。该改善主要归因于材料成本降低及XPILOT软件销售的收入确认。</blockquote></p><p><b>Research and development expenses</b>were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.</p><p><blockquote><b>研发费用</b>2021年第一季度为人民币5.351亿元（8170万美元），较2020年同期的人民币3.108亿元增长72.2%，较2020年第四季度的人民币4.60亿元增长16.3%。同比增长主要是由于(i)研发人员扩大导致员工薪酬增加，(ii)与P5开发相关的费用增加，以及(iii)2021年第一季度确认的股份薪酬费用。环比增长主要是由于(i)员工薪酬随着工程人员的增加而增加，以及(ii)与P5开发相关的费用增加。</blockquote></p><p><b>Selling, general and administrative expenses</b>were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.</p><p><blockquote><b>销售、一般及行政开支</b>2021年第一季度为人民币7.208亿元（1.1亿美元），较2020年同期的人民币3.218亿元增长124.0%，较2020年第四季度的人民币9.179亿元下降21.5%。同比增长主要是由于(i)支持汽车销售的营销、促销和广告费用增加，(ii)我们销售网络的扩张和相关人员成本、销售和服务店的租赁费用以及佣金加盟店，以及(iii)2021年第一季度确认的股权激励费用。环比下降主要是由于与第四季度销售旺季相比，营销、促销和广告费用较低。</blockquote></p><p><b>Loss from operations</b>was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.</p><p><blockquote><b>经营亏损</b>2021年第一季度为人民币9.039亿元（1.380亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币11.212亿元。</blockquote></p><p><b>Non-GAAP loss from operations,</b>which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则运营损失，</b>不包括股权激励费用，2021年第一季度为人民币8.137亿元（1.242亿美元），而2020年同期为人民币6.493亿元，2020年第四季度为人民币10.464亿元。</blockquote></p><p><b>Net loss</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.</p><p><blockquote><b>净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币6.498亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p><b>Non-GAAP net loss,</b>which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>非公认会计准则净亏损，</b>不包括以股份为基础的薪酬费用和与优先股赎回权相关的衍生负债公允价值变动，2021年第一季度为人民币6.963亿元（1.063亿美元），而2020年同期为人民币6.448亿元2020年和2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Net loss attributable to ordinary shareholders of XPeng Inc.</b>was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的净亏损</b>2021年第一季度为人民币7.866亿元（1.201亿美元），而2020年同期为人民币9.351亿元，2020年第四季度为人民币7.874亿元。</blockquote></p><p></p><p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.</b>, which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.</p><p><blockquote><b>归属于小鹏汽车普通股股东的非公认会计准则净亏损</b>2021年第一季度为人民币6.963亿元（1.063亿美元），不包括以股份为基础的薪酬费用、与优先股赎回权相关的衍生负债公允价值变动以及优先股至赎回价值的增值，2020年同期为人民币6.448亿元，2020年第四季度为人民币7.126亿元。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2021年第一季度均为人民币0.99元（0.15美元），而2020年第一季度为人民币5.16元，2020年第四季度为人民币1.05元。</blockquote></p><p><b>Non-GAAP basic and diluted net loss per ADS</b>were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.88元（0.13美元），而2020年第一季度为人民币3.56元，2020年第四季度为人民币0.95元。</blockquote></p><p><b>Balance Sheets</b></p><p><blockquote><b>资产负债表</b></blockquote></p><p>As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.</p><p><blockquote>截至2021年3月31日，公司的现金及现金等价物、受限制现金、短期存款、短期投资和长期存款为人民币36,201.0百万元（5,525.4百万美元），而截至2020年12月31日为人民币35,342.1百万元。</blockquote></p><p><b>Business Outlook</b></p><p><blockquote><b>业务展望</b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p><ul><li><b>Deliveries of vehicles</b>to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.</li><li><b>Total revenues</b>to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.</li></ul>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.</p><p><blockquote><ul><li><b>车辆交付</b>在15,500辆至16,000辆之间，同比增长约380.2%至395.7%。</li><li><b>总收入</b>人民币34亿元至人民币35亿元，同比增长约475.5%至492.4%。</li></ul>上述展望基于当前市场状况，反映了公司对市场和经营状况以及客户需求的初步估计，这些都可能发生变化。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172412248","content_text":"XPeng Inc. a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.Xpeng Q1 Non-GAAP EPS of -$0.13beats by $0.07; GAAP EPS of -$0.15misses by $0.02.Revenue of $450.4M misses by $15.38M.Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As of March 31, 2021, XPeng’s physical sales and service network consisted of a total of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.Shares +1.78% PM.First Quarter 2021 Operational HighlightsDeliveries of vehiclesreached 13,340 in the first quarter of 2021, representing an increase of 487.4% from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.As ofMarch 31, 2021,XPeng’s physical sales and service network consisted of atotal of 178 stores and 61 service centers, covering 70 cities.As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.First Quarter 2021 Financial HighlightsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.Gross marginwas 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of 2020 and 7.4% for the fourth quarter of 2020.Vehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares,non-GAAP net losswas RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. 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,non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per American depositary share (ADS)were both RMB0.99 (US$0.15) for the first quarter of 2021.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term depositswere RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.Recent DevelopmentsDeliveries in April 2021Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.New Smart EV Manufacturing BaseOn April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.Debut of Third Production ModelIn April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.Forming New Strategic PartnershipOn April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.First Quarter 2021 Unaudited Financial ResultsTotal revenueswere RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.Revenues from vehicle saleswere RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.Revenues from services and otherswere RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.Cost of saleswas RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.Gross marginwas 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.Vehicle marginwas 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.Research and development expenseswere RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.Selling, general and administrative expenseswere RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.Loss from operationswas RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.Non-GAAP loss from operations,which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.Net losswas RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.Non-GAAP net loss,which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Net loss attributable to ordinary shareholders of XPeng Inc.was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc., which excludes 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,was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.Basic and diluted net loss per ADSwere both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020.Non-GAAP basic and diluted net loss per ADSwere both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.Balance SheetsAs of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.Business OutlookFor the second quarter of 2021, the Company expects:Deliveries of vehiclesto be between 15,500 and 16,000 vehicles, representing a year-over-year increase of approximately 380.2% to 395.7%.Total revenuesto be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year increase of approximately 475.5% to 492.4%.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.","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
