XPENG-W released its second-quarter performance report, with a net loss of 2.8 billion yuan, a 20% increase compared to the previous quarter, and a 3.8% increase compared to the same period last year.
Zhitong Financial APP News, XPENG-W released the results for the second quarter of the three months ended June 30, 2023. The group achieved a total income of RMB 5.06 billion yuan (the same below), up 25.5 from the previous month and down 31.9 from the previous year. Car sales revenue was 4.42 billion yuan, up 25.9 from the previous month and down 36.2 from the previous year. Net loss was 2.8 billion yuan, up 20% from the previous month and 3.8 from the previous year; net loss of basic and diluted common stock of $1.63. "Our first strategic model, the G6, built on the soaring architecture, was officially launched in June and quickly became one of the best-selling models, giving us tremendous momentum for sales growth. I believe the success of the G6 is just the beginning, and we will see more models launched on the soaring architecture in the future." Mr. He Xiaopeng, chairman and chief executive officer of XPENG-W, said. "In the nine years since the XPENG-W was founded, we have always adhered to our faith in technology. Our industry-leading full-stack self-developed electric platform and intelligent technology have made substantial breakthroughs in commercialization, both on the client side and in our strategic cooperation with Volkswagen Group, the world's leading car company." "Driven by new products and more efficient channels, our deliveries have increased for six consecutive months." Dr. Gu Hongdi, honorary vice chairman and co-president of XPENG-W, said. "As new products such as the G6 drive significant growth in our sales, we expect gross margin to gradually recover and operating efficiency to continue to improve, resulting in significant improvements in free cash flow.
XPENG-W (09868) released its second quarter performance for the three months ending June 30, 2023. The group achieved a total revenue of RMB 5.06 billion, representing a MoM increase of 25.5% and a YoY decrease of 31.9%. Automotive sales revenue reached RMB 4.42 billion, with a MoM increase of 25.9% and a YoY decrease of 36.2%. The net loss was RMB 2.8 billion, showing a MoM increase of 20% and a YoY increase of 3.8%. The basic and diluted net loss per share was RMB 1.63.
"Our first strategic model, G6, built on the Flying Architecture, was officially launched in June and quickly became one of the best-selling models, bringing significant momentum to our sales growth. I believe the success of G6 is just the beginning, and we will see the launch of more models on the Flying Architecture in the future," said Mr. He Xiaopeng, Chairman and CEO of XPENG-W. "XPENG-W has been established for 9 years, and we have always adhered to our technological beliefs. Our industry-leading full-stack self-developed electric platform and intelligent technology have made substantial breakthroughs in commercialization, both in terms of end-users and strategic cooperation with global leading automaker Mass Motor Group."
"With the promotion of new products and more efficient channels, our delivery volume has been growing for 6 consecutive months," said Dr. Gu Hongdi, Honorary Vice Chairman and Co-President of XPENG-W. "As new products like G6 drive our sales growth significantly, we expect the gross margin to gradually recover, operational efficiency to continue improving, and a substantial improvement in free cash flow."
For the third quarter of 2023, the company expects that the car delivery volume will range from 39,000 to 41,000 units, representing a YoY increase of approximately 31.9% to 38.7%. Total revenue is projected to be between RMB 8.5 billion and RMB 9 billion, with a YoY increase of about 24.6% to 31.9%.