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Recently, Douyin user "Brother Yu" around the world posted a number of comments about Xiaopeng car on Douyin platform. Xiaopeng Automobile issued a statement refuting the rumor in response to the user's comments. Xiaopeng said it reserves the right to pursue legal liability against those responsible.

The thing is, the blogger said in a video post yesterday that a friend close to Xiaopeng's car sales revealed to him that Xiaopeng first sold a large number of new cars to second-hand car dealers in order to do a good job in bookkeeping. Second-hand car dealers then sell their cars to third-and fourth-tier cities or car rental companies at lower prices. Take the G3 as an example, the price on arrival appears to be 170000, but the price sold by used car dealers is only about 110000.

According to Xiaopeng's financial report, Xiaopeng achieved an operating income of 1.99 billion yuan in the third quarter of 2020, with a gross profit margin of 4.6%. Although the gross profit margin has become positive, Xiaopeng has yet to turn losses into profits. It lost 1.149 billion yuan in the third quarter, expanding from-776 million yuan in the same period last year. The financial report shows that the losses mainly come from R & D and sales, general and administrative expenses.

In terms of R & D expenditure, Xiaopeng spent 635 million yuan in the third quarter of 2020, compared with 435 million yuan in the same period last year; in terms of sales, general and administrative expenses, Xiaopeng spent 1.203 billion yuan, compared with 286 million yuan in the same period last year.

The blogger said that this mode of operation well explains why Xiaopeng Motor had a positive gross profit margin in the third quarter, but its operating cost reached 1.2 billion yuan. The blogger explained that Xiaopeng Automobile rectifies the gross profit price of selling cars in the report, but puts the contract prices of discount middlemen into operating costs, which can reflect a better book. after the 180-day stock ban period expires, shareholders will cash in large quantities.

Regarding the above remarks, Xiaopeng official said in a statement this morning: recently, it has been found that Tik Tok users have continuously released a large number of false information, and carried out groundless speculation and rumors about Xiaopeng's operation. This kind of behavior has seriously damaged Xiaopeng's reputation and caused a very bad influence on public opinion. In this regard, Xiaopeng Motor will reserve the right to investigate the legal responsibility of the relevant responsible persons, in order to protect the legitimate rights and interests of Xiaopeng Automobile.

After Xiaopeng released its statement, the blogger posted a video response to Xiaopeng and posted screenshots of netizens' revelations. The blogger said that the used car website can buy a discount Xiaopeng G3. This year, the official price of the new G3520 is 169800 yuan, the starting price of the used car website is only 149800 yuan, and the car sold to a car rental company for 10,000 to 20,000 kilometers is about 110000 yuan.

Without knowing the authenticity of the blogger's revelations, we will continue to follow the progress of the incident. As of Monday's close, Xiaopeng Motor was down 2.11%, with a total market capitalization of $35.486 billion.

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