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• Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB36.48 billion (US$5.00 billion) as of September 30, 2023
• Quarterly total revenues were RMB8.53 billion, a 68.5% increase quarter-over-quarter
• Quarterly gross margin was negative 2.7%, an increase of 1.2 percentage points quarter-over-quarter

(SeaPRwire) –   GUANGZHOU, China, Nov. 15, 2023 — XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), isang nangungunang Chinese na kumpanyang smart electric vehicle (“Smart EV”) ay nag-anunsyo ng kanyang hindi pa na-audit na resulta ng pananalapi para sa tatlong buwan na nagwakas noong Setyembre 30, 2023.

Operational and Financial Highlights for the Three Months Ended September 30, 2023

• Total deliveries of vehicles were 40,008 for the third quarter of 2023, representing an increase of 72.4% from 23,205 for the second quarter of 2023.
• XPENG’s physical sales network had a total of 395 stores as of September 30, 2023.
• XPENG self-operated charging station network reached 1,057 stations, including 854 XPENG self-operated supercharging stations and 203 destination charging stations as of September 30, 2023.

• Total revenues were RMB8.53 billion (US$1.17 billion) for the third quarter of 2023, representing an increase of 25.0% from the same period of 2022, and an increase of 68.5% from the second quarter of 2023.
• Revenues from vehicle sales were RMB7.84 billion (US$1.08 billion) for the third quarter of 2023, representing an increase of 25.7% from the same period of 2022, and an increase of 77.3% from the second quarter of 2023.
• Gross margin was negative 2.7% for the third quarter of 2023, compared with 13.5% for the same period of 2022 and negative 3.9% for the second quarter of 2023.
• Vehicle margin, which is gross profit or loss of vehicle sales as a percentage of vehicle sales revenue, was negative 6.1% for the third quarter of 2023, compared with 11.6% for the same period of 2022 and negative 8.6% for the second quarter of 2023.
• Fair value loss on derivative liability was RMB0.97 billion (US$0.13 billion) for the third quarter of 2023. This non-cash loss resulted from the fluctuation in the fair value of the forward share purchase agreement, measured through profit or loss, related to the issuance of shares by the Company for strategic minority investment by the Volkswagen Group (“Volkswagen”).
• Net loss was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023. Excluding share-based compensation expenses and fair value loss on derivative liability, non-GAAP net loss was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.
• Net loss attributable to ordinary shareholders of XPENG was RMB3.89 billion (US$0.53 billion) for the third quarter of 2023, compared with RMB2.38 billion for the same period of 2022 and RMB2.80 billion for the second quarter of 2023. Excluding share-based compensation expenses and fair value loss on derivative liability, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB2.79 billion (US$0.38 billion) for the third quarter of 2023, compared with RMB2.22 billion for the same period of 2022 and RMB2.67 billion for the second quarter of 2023.
• Basic and diluted net loss per American depositary share (ADS) were both RMB4.49 (US$0.62) and basic and diluted net loss per ordinary share were both RMB2.25 (US$0.31) for the third quarter of 2023. Each ADS represents two Class A ordinary shares.
• Non-GAAP basic and diluted net loss per ADS were both RMB3.23 (US$0.44) and non-GAAP basic and diluted net loss per ordinary share were both RMB1.61 (US$0.22) for the third quarter of 2023.
• Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB36.48 billion (US$5.00 billion) as of September 30, 2023, compared with RMB33.74 billion as of June 30, 2023. Time deposits include restricted short-term deposits, short-term deposits, restricted long-term deposits, current portion and non-current portion of long-term deposits.

Key Financial Results
(in RMB billions, except for percentage)

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